Overview
What is The Working World Inc?
The Working World Inc, based in New York City, serves as an applied research organization dedicated to fostering community economic development. By expanding democratic enterprises and community-controlled non-extractive capital, they aim to improve the lives of low-income, marginalized, and at-risk populations. In 2022, they made 52 below-market rate loans to 37 democratic enterprises, benefiting over 3,000 worker-owners, with 49 loans going to cooperative businesses in the US and 3 in Nicaragua. The loan selection process considers both financial and social impact, assessing projected yields and social benefits such as income enhancement, increased employment, and community stability. Since inception, 98% of loans have been repaid, significantly increasing the capital of the enterprises in financial, human, and social categories, ultimately improving the financial situations and boosting production and employment for these small businesses.
Official website here: www.seedcommons.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 78% (Three-Star out of Four Star rating)
The Working World Inc has achieved a 78% rating on Charity Navigator, which reflects a solid performance in accountability and finance, scoring 90%. The organization has a program expense ratio of 88.88%, indicating a strong commitment to directing resources towards its programs. Additionally, the working capital ratio of 4.42 years suggests financial stability and the ability to sustain operations over the long term.
In terms of cultural and community engagement, the organization scored 10%, with a culture and community score of 85. This indicates a positive perception among stakeholders regarding the organization's impact and outreach efforts. The implementation of seven equity practices further highlights its commitment to fostering an inclusive and equitable environment.
However, while the financial metrics are strong, the relatively lower score in culture and community suggests there may be areas for growth in stakeholder engagement and outreach. Overall, The Working World Inc demonstrates effective financial management and a commitment to equity, but could enhance its community impact initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is The Working World Inc legitimate?
The Working World Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Working World Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $760,143
Professional Fundraising Fees: $16,594
Other Salaries and Wages: $2,141,857
For more financial information, click here
Official website here: www.seedcommons.org
What is the mission statement of The Working World Inc?
The Working World Inc, through its applied research organization Seed Commons, focuses on studying, testing, assessing, and implementing best practices for community economic development. This is achieved by expanding democratic enterprise and community-controlled non-extractive capital. In 2022, Seed Commons made 52 below-market rate loans to 37 democratic enterprises, benefiting over 3,000 worker-owners. These loans, primarily given to cooperative businesses in the U.S. and Nicaragua, prioritize low-income, marginalized, and at-risk communities. The loan selection process considers both the financial benefit to the cooperative and its social impact, which can include income enhancement, increased employment, and community stability. Since its inception, Seed Commons has seen a high rate of loan repayment, significantly increasing the capital of the enterprises in three categories: financial, human, and social. These loans have improved the financial situations of small businesses and often resulted in increased production and employment.
Official website here: www.seedcommons.org
What is the revenue of The Working World Inc?
The Working World Inc's revenue in 2023 was $9,581,365.
Official website here: www.seedcommons.org
Who are the executives of The Working World Inc and what are their salaries?
The average compensation at The Working World Inc during 2023 was $54,755. There are 53 employees and 10 volunteers at The Working World Inc.
Here are 14 key members and their salaries:
- Compensation: $87,292
- Related: $0
- Other: $9,683
- Compensation: $62,107
- Related: $0
- Other: $8,344
- Compensation: $38,300
- Related: $0
- Other: $408
- Compensation: $43,580
- Related: $0
- Other: $437
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $124,953
- Related: $0
- Other: $20,232
- Compensation: $107,372
- Related: $0
- Other: $8,825
- Compensation: $129,590
- Related: $0
- Other: $4,331
- Compensation: $106,124
- Related: $0
- Other: $8,565
Official website here: www.seedcommons.org
Where can I find the form 990 for The Working World Inc?
The Working World Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.seedcommons.org
Learn more at the official website: www.seedcommons.org
Mission Statement of The Working World Inc
The Working World Inc, an applied research organization, is dedicated to studying, testing, assessing, and implementing best practices for community economic development. Their mission revolves around expanding democratic enterprise and community-controlled non-extractive capital. This nonprofit organization focuses on communities with populations that are low-income, marginalized, and at risk. They achieve this by providing below-market rate loans to democratic enterprises, benefiting over 3,000 worker-owners. The loan selection process considers both the financial yield of the project and its social impact, which can include income enhancement, increased employment, and capacity development. Since its inception, The Working World Inc has seen a high repayment rate of 98%, significantly increasing the capital of the enterprises in three categories: financial, human, and social. These loans have improved the financial situations of small businesses and, in most cases, resulted in a substantial increase in production and employment.
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Impact
August, 2024
The Working World Inc's impact is significant in the realm of community economic development. Through its SEED COMMONS program, the organization has made below-market rate loans to democratic enterprises, benefiting over 3,000 worker-owners in 2022 alone. The focus on cooperative businesses in low-income and marginalized communities reflects a commitment to empowering the most vulnerable populations. With a loan repayment rate of 98%, these investments have substantially increased the capital and stability of the recipient enterprises, leading to improved financial situations, increased production, and employment opportunities. This approach not only fosters economic growth but also enhances community stability and capacity development, showcasing a holistic approach to fostering sustainable and equitable development.
This information is meant to be a general summary of The Working World Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,204,790
- Program Service Revenue: $1,190,474
- Gross Receipts: $9,581,365
Assets and Liabilities:
- Total Assets: $77,022,754
- Total Liabilities: $57,312,911
- Net Assets: $19,709,843
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,275,336
PROGRAM SERVICES FEES
Revenue
$37,852
LOSS FROM PROGRAM RELATED EQUITY
Revenue
-$122,714
Organization Details
Founding Year
2005
Principal Officer
Brendan Martin
Website
www.seedcommons.orgNTEE Category
Code: S30 - Community improvement
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