Workspace Education Incorporated

Nonprofit profile at a glance

EIN
814491447
IRS 990 coverage
2016–2020
Forms available
Form 990 2020
Location
Wilton, CT, USA
Phone
2035051743
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education

Reported finances

Revenue
$345,736
Expenses
$980,953
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • CATHERINE FRAISE (PRESIDENT)

People named in this filing

  • CATHERINE FRAISE (PRESIDENT)
  • GEORGE FRAISE (TREASURER)
  • CAROLYN VALDIVIESO (SECRETARY)

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

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Workspace education incorporated is a vibrant learning community, led by parents, that provides its member families with programming and other resources to facilitate homeschooling opportunities.

What it reported doing in 2020

Educational services - providing resources and a 21st century learning environment, including co-working spaces. Children and their parents receive guidance regarding education, educational opportunities, and a place to do their studies.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 9
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.3%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 77.8%; rating input score 78; 19th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -183.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 29.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 18.3% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.3% of spending went to programs
  • Governance: 7 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $817K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2016 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.