Working in Support of Education Inc

Nonprofit profile at a glance

EIN
134024627
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2124212700
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$3,001,119
Expenses
$2,877,142
Assets
$3,606,413
Liabilities
$1,002,873

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

Leadership & pay

19 people listed

Executive titles in this filing

  • DAVID ANDERSON (PRESIDENT/CEO)
  • KRISTY NGUYEN (SENIOR VICE PRESIDENT)

Highest reported compensation

  • DAVID ANDERSON (PRESIDENT/CEO): $263,383 total reported compensation
  • KRISTY NGUYEN (SENIOR VICE PRESIDENT): $171,864 total reported compensation
  • DARIO STIPISIC (SENIOR DIRECTOR, FINANCIAL): $169,110 total reported compensation

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

Overview

Mission

The mission of w! Se is to improve economic mobility through programs that develop financial literacy and readiness for college and careers. Our success is built on five pillars relevancy, digital leadership, real-world experiences, volunteerism, and evaluation.

What it reported doing in 2024

Domestic violence program - moneyw! Secreated in 2009 and currently offered in 22 u.s. Cities with 30 partner sites, moneyw! Se is a 10-12 session comprehensive personal finance course for domestic violence survivors and other underserved women's groups. Moneyw! Se helps its participants develop the financial knowledge, skills and confidence to break free of abusive relationships and find a pathway to financial independence. Participants take a pre-test to benchmark knowledge prior to instruction. On the last day, they take w! Se's financial literacy certification test; those passing become "certified financially literate", a credential that can help them in their search for work. Moneyw! Se is provided free of charge to partner centers (e.g., ywcas, family justice centers, and non-profits) and their clients. Moneyw! Se instructors offer their services on a volunteer basis. They comprise senior finance experts from leading financial institutions in nyc and across the country; many are certified financial planners (cfps) recruited by financial planning associations in cities where moneyw! Se is offered. Each session is 90 minutes with the instructor dedicating at least 3 hours/class to prepare for and deliver the session. To encourage attendance, a light meal, public transportation cards/other transportation cost support, childcare, and participation incentives (typically gift cards) can be offered, thanks to external grant financing. 90% of participants are lower, middle income (lmi). An average of 83% of participants earn the financial literacy certification. Quality of lifethe quality of life innovations (qli) program is a project-based learning experience that empowers students to research a community issue, develop an evidence-based recommendation, and implement a real solution. The program builds civic readiness, professional skills, and academic confidence while connecting students with mentors who support their growth. In april, students will submit their work (a 10 to 17-page research proposal) to the qli competition where the winners earn college scholarships.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 76
  • Accountability: 96
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67%; rating input score 67
  • Program expense ratio: 69.2%; rating input score 69
  • Fundraising efficiency: $2.76 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 53%; rating input score 53; 16th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.1%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 25.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 67% of revenue deployed · 69.2% of spending went to programs
  • Governance: 15 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $263K · 19 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $351K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 53/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.