Workforce Solutions Inc

Nonprofit profile at a glance

EIN
823840319
IRS 990-EZ coverage
2023–2024
Forms available
Form 990 2022, Form 990-EZ 2024
Location
Mishawaka, IN, USA
Phone
5742715145
Rating
92
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$28,498
Expenses
$147,100
Assets
$0
Liabilities
$241,273

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • LARRY GARATONI (PRESIDENT)

People named in this filing

  • CHARLES LOESER (SECRETARY)
  • LARRY GARATONI (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We believe in the transformative power of technology and creating advancement opportunities for all. We are committed to supporting our diverse community and industries by developing tech talent pipelines through education, work-based learning, and comprehensive student resources.

What it reported doing in 2024

Strengthening the information technology in the region to benefit and enhance our community's quality of life, and support the development a technologically skilled workforce through innovative educational pathways with the goal of retaining talent in the region to foster economic growth. An employer-driven steering committee of local leaders and community stakeholders exists to further collaborate on workforce develoment efforts and guides our actions on program development and offerings.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 9
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -416.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 30.1% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: -4.6% per year; rating input score 0; 35th percentile among comparable filings
  • Asset growth: -47.7% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $147K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.