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Passes our checks

Institute for Work and the Economy a Not-For-Profit Corporation

EIN 36-4389954 · Oak Park, IL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair59 out of 100GovernanceGood70 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It reported loans to or from officers, directors or other insiders.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE INSTITUTE FOR WORK & THE ECONOMY IS AN INDEPENDENT, NON-PARTISAN, PUBLIC POLICY COLLABORATIVE UNDER THE DIRECTION OF A DIVERSE BOARD. THE MISSION IS TO SERVE AS A CONDUIT FOR INNOVATIVE WORKFORCE STRATEGIES AND POLICIES THAT FOSTER ECONOMIC SECURITY, EQUITY, AND OPPORTUNITY FOR ALL WORKERS

Income
$359,171
Spending
$311,376
Spent on programs
85%
Reserves
0.7 months of spending
Largest source of income
fees for its services, 71%
Employees
2
Volunteers
0
Highest pay
$109,000, president & executive director

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 59 out of 100. Higher than 28% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    4 of 35

    Spendable reserves would cover 0.7 months of spending.

  • Debt

    10 of 20

    It owes 48% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 13% of income.

  • Income trend

    15 of 15

    Income rose 141% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 70 out of 100. Higher than 42% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    20 of 20 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    12 of 15

    Its accounts were reviewed or compiled by an independent accountant, but not audited.

  • No reported misuse

    0 of 10

    Reports at least one of: diversion of assets, excess benefits, loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $237,723 spent. THE INSTITUTE IS DESIGNING AND MANAGING THE DEVELOPMENT AND BUILD-OUT OF A STATEWIDE (ILLINOIS) INNOVATION ECOSYSTEM TO SUPPORT THE DISCOVERY OF NON-FOOD USES FOR SOYBEANS. WE MANAGE THE ANNUAL SPRINGBOARD CHALLENGE COMPETITION, HANDLE ALL CONTRACTUAL MATTERS WITH AWARDEES ON BEHALF OF THE ISB, AND SUPERVISE AWARDEES' PERFORMANCE.
  2. $27,781 spent. THE INSTITUTE CONDUCTED AN EVALUATION OF THE ABE-LINC DIGITAL NAVIGATOR PROGRAM PURSUANT TO THE TERMS OF A CONTRACT WITH CHICAGO STATE UNIVERSITY AND SUBJECT TO THE HUMAN SUBJECTS RESEARCH PARAMETERS ESTABLISHED BY THE UNIVERSITY'S INSTITUTIONAL REVIEW BOARD. CHICAGO STATE UNIVERSITY RECEIVED FUNDING FOR THIS PROJECT UNDER THE BROADBAND EQUITY, ACCESS, AND DEPLOYMENT PROGRAM FROM THE NATIONAL TELECOMMUNICATIONS AND INFORMATION ADMINISTRATION, U.S. DEPARTMENT OF COMMERCE. THE INSTITUTE WAS NOT A DIRECT RECIPIENT OF FEDERAL FUNDS.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.