The Working World, Inc.
The Working World, Inc.
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About this organization
Mission
The Working World builds cooperative businesses in low-income communities, using a groundbreaking model that combines non-extractive finance with tailor-made business support. More broadly, we see ourselves as part of a burgeoning movement of movements against the dual contemporary crises of socio-economic inequality and climate change.
About
IN 2018, THE WORKING WORLD MADE 41 BELOW-MARKET RATE LOANS TO 26 DEMOCRATIC ENTERPRISES WHICH BENEFITED OVER 600 WORKER-OWNERS. OF THOSE 41 LOANS, 34 WERE MADE TO COOPERATIVE BUSINESSES IN THE US AND 7 WERE MADE IN NICARAGUA. THE ORGANIZATION CONTINUES TO FOCUS ITS WORK IN COMMUNITIES WHOSE POPULATIONS ARE LOW-INCOME, MARGINALIZED, AND AT-RISK. THE LOAN SELECTION PROCESS INVOLVES A DOUBLE BOTTOM LINE, WHEREIN WE ASSESS THE BUSINESS PLAN TO MEASURE THE PROJECTED YIELD IN FINANCIAL BENEFIT TO THE COOPERATIVE AND ALSO MEASURE THE SOCIAL IMPACT, WHICH CAN INCLUDE SUCH QUANTIFIABLE PARAMETERS AS INCOME ENHANCEMENT (ESPECIALLY WHEN RISING ABOVE THE POVERTY LINE), INCREASED EMPLOYMENT, AND MORE ABSTRACT VARIABLES SUCH AS CAPACITY DEVELOPMENT AND INCREASED COMMUNITY STABILITY. SINCE THE ORGANIZATION'S INCEPTION, 98% OF LOANS MADE HAVE BEEN PAID BACK AND HAVE SUBSTANTIALLY INCREASED THE CAPITAL OF THE ENTERPRISE IN THREE CATEGORIES: FINANCIAL, HUMAN AND SOCIAL. THESE LOANS IMPROVED THE FINANCIAL SITUATIONS OF THESE SMALL BUSINESSES AND, IN MOST CASES, ALSO RESULTED IN A SUBSTANTIAL INCREASE IN PRODUCTION AND EMPLOYMENT.
Interesting data from their 2020 990 filing
The non-profit's mission is outlined in the filing as being “The working world is an applied research organization studying, testing, assessing and implementing best practices for community economic development through the expansion of democratic enterprise and community-controlled non-extractive capital.”.
When outlining its responsibilities, they were referred to as: “The working world is an applied research organization studying, testing, assessing and implementing best practices for community economic development through the expansion of democratic enterprise and community-controlled non-extractive capital.”.
- The state in which the non-profit operates has been officially reported as ME.
- The filing reveals the non-profit's address in 2020 to be 116 NASSAU STREET NO 513, NEW YORK, NY, 10038.
- As per the non-profit's form for 2020, they have 17 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $948,490.
- The organization has 6 independent voting members.
- The organization was formed in 2005.
- The organization pays $980,184 in salary, compensation, and benefits to its employees.
- The organization pays $51,019 in fundraising expenses.
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