Independence Works Inc
Independence Works Inc. shows consistent revenue growth and zero officer compensation, with a recent minor deficit.
EIN: 203383117 · West Palm Bch, FL · NTEE: P80 · Updated: 2026-03-28
Is Independence Works Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Independence Works Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Independence Works Inc
Independence Works Inc (EIN: 203383117) is a nonprofit organization based in West Palm Bch, FL, classified under NTEE code P80. The organization reported total revenue of $1.6M and total assets of $549K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independence Works Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Independence Works Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-75,502 |
| Total Assets | $867K |
| Total Liabilities | $179K |
| Net Assets | $689K |
| Operating Margin | -4.3% |
| Debt-to-Asset Ratio | 20.6% |
| Months of Reserves | 5.7 months |
Financial Health Grade: B
In 2023, Independence Works Inc reported a deficit of $76K with expenses exceeding revenue, holds 5.7 months of operating reserves (adequate), has a debt-to-asset ratio of 20.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Independence Works Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.0% | +28.8% | -9.5% |
| 2022 | +26.4% | +13.0% | +103.2% |
| 2021 | +5.8% | -6.0% | +77.1% |
| 2020 | +20.9% | +19.8% | +6.2% |
| 2019 | +42.5% | +45.7% | -12.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Independence Works Inc with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Independence Works Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $76K, with expenses exceeding revenue.
- Debt-to-asset ratio: 20.6%.
Executive Compensation Analysis
Independence Works Inc. reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly unusual and suggests a volunteer-led or externally funded leadership structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Independence Works Inc's IRS 990 filings:
- Recent minor deficit in 202306 ($1,745,060 revenue vs. $1,820,562 expenses)
Strengths
The following positive indicators were identified for Independence Works Inc:
- Consistent revenue growth over the past decade
- Zero officer compensation reported across all filings
- Significant growth in assets from $250,975 in 201906 to $867,423 in 202306
- Generally positive net income (revenue exceeding expenses) in most periods
Frequently Asked Questions about Independence Works Inc
Is Independence Works Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independence Works Inc (EIN: 203383117) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does Independence Works Inc spend its money?
Independence Works Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Independence Works Inc tax-deductible?
Independence Works Inc is registered as a tax-exempt nonprofit (EIN: 203383117). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Independence Works Inc. financially stable?
Yes, the organization appears financially stable, with consistent revenue growth over the past decade and a healthy accumulation of assets, increasing from $250,975 in 201906 to $867,423 in 202306. While there was a slight deficit in 202306, it's an outlier in a trend of surpluses.
How does Independence Works Inc. manage executive compensation?
Independence Works Inc. reports 0% officer compensation in all available IRS 990 filings, indicating that no salaries are paid to officers, which is a strong positive for transparency and resource allocation to programs.
What is the trend in the organization's assets?
The organization's assets have shown significant growth, increasing from $250,975 in 201906 to $867,423 in 202306, demonstrating a healthy accumulation of resources.
Does Independence Works Inc. spend efficiently?
Based on the 0% officer compensation and consistent surpluses in most years, the organization appears to spend efficiently, directing resources towards its mission rather than administrative overhead or executive salaries.
Filing History
IRS 990 filing history for Independence Works Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Independence Works Inc's revenue has grown by 303.1%, moving from $433K to $1.7M. Total assets increased by 453.6% over the same period, from $157K to $867K. Total functional expenses rose by 360.1%, from $396K to $1.8M. In its most recent filing year (2023), Independence Works Inc reported a deficit of $76K, with expenses exceeding revenue. The organization holds $179K in liabilities against $867K in assets (debt-to-asset ratio: 20.6%), resulting in net assets of $689K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.8M | $867K | $179K | — | View 990 |
| 2022 | $1.8M | $1.4M | $959K | $195K | — | View 990 |
| 2021 | $1.4M | $1.3M | $472K | $93K | — | View 990 |
| 2020 | $1.3M | $1.3M | $267K | $59K | — | View 990 |
| 2019 | $1.1M | $1.1M | $251K | $57K | — | View 990 |
| 2018 | $781K | $763K | $286K | $93K | — | View 990 |
| 2017 | $613K | $575K | $254K | $81K | — | View 990 |
| 2016 | $511K | $491K | $181K | $47K | — | View 990 |
| 2015 | $545K | $563K | $194K | $81K | — | View 990 |
| 2014 | $677K | $602K | $251K | $120K | — | View 990 |
| 2013 | $378K | $388K | $148K | $91K | — | View 990 |
| 2012 | $433K | $399K | $145K | $79K | — | View 990 |
| 2011 | $433K | $396K | $157K | $124K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.8M, and assets of $867K (revenue -3.0% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.4M, and assets of $959K (revenue +26.4% year-over-year).
- 2021: Revenue of $1.4M, expenses of $1.3M, and assets of $472K (revenue +5.8% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.3M, and assets of $267K (revenue +20.9% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $251K (revenue +42.5% year-over-year).
- 2018: Revenue of $781K, expenses of $763K, and assets of $286K (revenue +27.3% year-over-year).
- 2017: Revenue of $613K, expenses of $575K, and assets of $254K (revenue +19.9% year-over-year).
- 2016: Revenue of $511K, expenses of $491K, and assets of $181K (revenue -6.1% year-over-year).
- 2015: Revenue of $545K, expenses of $563K, and assets of $194K (revenue -19.6% year-over-year).
- 2014: Revenue of $677K, expenses of $602K, and assets of $251K (revenue +79.0% year-over-year).
- 2013: Revenue of $378K, expenses of $388K, and assets of $148K (revenue -12.5% year-over-year).
- 2012: Revenue of $433K, expenses of $399K, and assets of $145K (revenue -0.1% year-over-year).
- 2011: Revenue of $433K, expenses of $396K, and assets of $157K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Independence Works Inc:
Data Sources and Methodology
This transparency report for Independence Works Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.