Working Solutions Cdfi
- Assets
- $18.5m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 27
- Location
- San Francisco, CA
- Founding
- 05/1999
- Data as of
- 09/2023
- EIN
- 91-1951777
Organization Overview
Working Solutions Cdfi, operating under the name Working Solutions, is located in San Francisco, CA. The organization was established in 1999. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 09/2023, Working Solutions employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Working Solutions is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Working Solutions generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $4.6m during the year ending 09/2023. While expenses have increased by 12.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WORKING SOLUTIONS IS A CERTIFIED NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) THAT SUPPORTS NORTHERN CALIFORNIA ENTREPRENEURS TO START AND GROW THRIVING LOCAL BUSINESSES. WE SPECIALIZE IN START-UP AND EARLY-STAGE FINANCING FOR INDIVIDUALS VIA CAPITAL, CONSULTING, AND COMMUNITY CONNECTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKING SOLUTIONS CDFI ("WORKING SOLUTIONS OR "THE ORGANIZATION") IS A CALIFORNIA NONPROFIT CORPORATION AND A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). WORKING SOLUTIONS IS THE FIRST TO BELIEVE IN START-UP AND EARLY-STAGE BUSINESSES BY PROVIDING AFFORDABLE CAPITAL, CUSTOMIZED BUSINESS CONSULTING, AND COMMUNITY CONNECTIONS TO DIVERSE ENTREPRENEURS - WITH A FOCUS ON LOW-INCOME INDIVIDUALS, ENTREPRENEURS OF COLOR, AND WOMEN - TO INCREASE ECONOMIC OPPORTUNITY IN NORTHERN CALIFORNIA. WORKING SOLUTIONS SUPPORTS MICROENTERPRISE GROWTH TO STRENGTHEN THE LOCAL ECONOMY, CREATE JOBS, AND BUILD STRONG COMMUNITIES. WORKING SOLUTIONS PROVIDES THE FOLLOWING SERVICES: (I) LOANS FROM $5,000 TO $100,000; (II) SMALL BUSINESS GRANTS; (III) FREE, ONE-ON-ONE BUSINESS CONSULTING TO HELP ENTREPRENEURS NAVIGATE THE CHALLENGES OF OWNING A SMALL BUSINESS WITH A SPECIFIC FOCUS ON FINANCIAL MANAGEMENT AND RISK MITIGATION; AND (IV) REFERRALS TO FREE OR LOW-COST INDUSTRY EXPERTS FOR LEGAL, ACCOUNTING, MARKETING, AND OTHER TYPES OF SPECIALIZED SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marci Rosenfeld Chair | OfficerTrustee | 1 | $0 |
Olivia Rebanal Vice Chair | OfficerTrustee | 1 | $0 |
Christina Travers Treasurer | OfficerTrustee | 1 | $0 |
Mindy Christensen Secretary | OfficerTrustee | 1 | $0 |
Haseeb Chaudhry Board Member | Trustee | 1 | $0 |
Emily Gasner Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,072,009 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,668,882 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,740,891 |
| Total Program Service Revenue | $942,774 |
| Investment income | $922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,684,587 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $610,544 |
| Compensation of current officers, directors, key employees. | $263,427 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,027,986 |
| Pension plan accruals and contributions | $44,135 |
| Other employee benefits | $305,089 |
| Payroll taxes | $197,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $98,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $134,138 |
| Advertising and promotion | $9,018 |
| Office expenses | $40,922 |
| Information technology | $198,072 |
| Royalties | $0 |
| Occupancy | $127,777 |
| Travel | $57,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,711 |
| Interest | $132,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,446 |
| Insurance | $13,671 |
| All other expenses | $0 |
| Total functional expenses | $4,561,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,653 |
| Savings and temporary cash investments | $2,900,446 |
| Pledges and grants receivable | $4,582,693 |
| Accounts receivable, net | $93,528 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,669 |
| Net Land, buildings, and equipment | $12,822 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,288,249 |
| Intangible assets | $0 |
| Other assets | $273,892 |
| Total assets | $18,529,952 |
| Accounts payable and accrued expenses | $372,811 |
| Grants payable | $0 |
| Deferred revenue | $304,278 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $8,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $7,687,500 |
| Other liabilities | $747,607 |
| Total liabilities | $9,120,196 |
| Net assets without donor restrictions | $6,426,541 |
| Net assets with donor restrictions | $2,983,215 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,529,952 |