Civic Intelligence

Education at Work Inc

990 • Fiscal year 2018 • EIN 45-4035038

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

2300 Wall Street Suite RCincinnati, OH 45212

(513) 841-3600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

4.18x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

0.66x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

57th percentile

5.6%

Higher net margin than 57% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

97th percentile

$1,571,495

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

3rd percentile

-20%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

95th percentile

121%

Faster revenue growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Down

$4,078,375

Down $1,006,185 (-20%) from 2017

Net Assets

Up

-$12,953,360

Up $2,572,252 (+17%) from 2017

Liabilities

Down

$17,031,735

Down $3,578,437 (-17%) from 2017

Revenue

Up

$25,920,319

Up $14,214,805 (+121%) from 2017

Expenses

Down

$24,466,694

Down $2,029,995 (-7.7%) from 2017

Net Income

Up

$1,453,625

Up $16,244,800 (+110%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0-$10M-$20MAssets 2012: $1,007,259Liabilities 2012: $1,997,594Net Assets 2012: -$990,3352012Assets 2013: $626,899Liabilities 2013: $3,057,969Net Assets 2013: -$2,431,0702013Assets 2014: $1,016,885Liabilities 2014: $4,569,781Net Assets 2014: -$3,552,8962014Assets 2015: $3,052,519Liabilities 2015: $2,697,263Net Assets 2015: $355,2562015Assets 2016: $6,423,494Liabilities 2016: $8,167,791Net Assets 2016: -$1,744,2972016Assets 2017: $5,084,560Liabilities 2017: $20,610,172Net Assets 2017: -$15,525,6122017Assets 2018: $4,078,375Liabilities 2018: $17,031,735Net Assets 2018: -$12,953,3602018Assets 2019: $8,698,379Liabilities 2019: $5,104,654Net Assets 2019: $3,593,7252019Assets 2020: $7,418,747Liabilities 2020: $3,507,363Net Assets 2020: $3,911,3842020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2018

Assets$4,078,375
Liabilities$17,031,735
Net Assets-$12,953,360

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2012: $1,751,6842012Revenue 2013: $3,253,854Expenses 2013: $4,694,589Net Income 2013: -$1,440,7352013Revenue 2014: $5,998,405Expenses 2014: $7,120,231Net Income 2014: -$1,121,8262014Revenue 2015: $5,307,744Expenses 2015: $7,634,075Net Income 2015: -$2,326,3312015Revenue 2016: $3,207,242Expenses 2016: $6,655,533Net Income 2016: -$3,448,2912016Revenue 2017: $11,705,514Expenses 2017: $26,496,689Net Income 2017: -$14,791,1752017Revenue 2018: $25,920,319Expenses 2018: $24,466,694Net Income 2018: $1,453,6252018Revenue 2019: $37,590,135Expenses 2019: $26,826,326Net Income 2019: $10,763,8092019Revenue 2020: $27,265,167Expenses 2020: $28,198,129Net Income 2020: -$932,9622020Revenue 2021: $18,009,330Expenses 2021: $18,511,379Net Income 2021: -$502,0492021

Highlighted filing

2018

Revenue$25,920,319
Expenses$24,466,694
Net Income$1,453,625
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$26,697,324
Mission and Program Overview

Mission

Education@work is a start-up organization whose mission is to provide employment and financial assistance to college students to help them get their degree and then, help them secure full-time employment. Many of the students helped will be first generation college students and minorities, where the affordability of college is the most challenging.

Education at work, inc.'s mission is to provide financial and other support for, and to otherwise operate for the benefit of, roadtrip nation, ltd. To pursue their mission of empowering students to find their road in life, their life path, through education curriculum and hands on experiences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,533,571$1,882,067▲ $348,496
Land, Buildings, and Equipment, Net$2,662,947$1,654,338▼ $1,008,609
Cash and Non-Interest-Bearing Accounts$707,131$586,276▼ $120,855
Pledges and Grants Receivable$125,105$34,109▼ $90,996
Prepaid Expenses and Deferred Charges$55,806$-78,415▼ $134,221
Total Assets$5,084,560$4,078,375▼ $1,006,185
Liabilities
Other Liabilities$15,646,750$14,969,295▼ $677,455
Accounts Payable and Accrued Expenses$2,910,359$1,829,610▼ $1,080,749
Deferred Revenue$1,903,063$232,830▼ $1,670,233
Mortgage Notes Payable Secured by Investment Property$150,000$0▼ $150,000
Total Liabilities$20,610,172$17,031,735▼ $3,578,437
Net Assets / Fund Balance
Temporarily Rstr Net Assets$125,105$34,109▼ $90,996
Unrestricted Net Assets$-15,650,717$-12,987,469▲ $2,663,248
Total Net Assets Fund Balance$-15,525,612$-12,953,360▲ $2,572,252
Total Liabilities and Net Assets / Fund Balance$5,084,560$4,078,375▼ $1,006,185

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,102,890$982,611$2,085,501
Leasehold Improvements$519,457$431,957$951,414
Other Land Buildings$31,991$84,206$116,197
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig P AndersonBoard MemberFT$124,166$740,157$864,323
Brian AllisonVP AdministrationFT$77,813$253,029$330,842
Laura S BlackburnVP, Customer SupportFT$69,198$237,888$307,086
Tanya J MahonChief Development OfficerFT$183,716$71,968$255,684
Renee F KuwaharaChief Operating OfficerFT$185,192$63,560$248,752
Kim M FishDirector Prod InnovationFT$47,426$181,025$228,451
Dave DoughertyFormer Highest Compensated Employee-$210,000$227,344$227,344
Elizabeth a BrandesVP MarketingFT$67,765$155,618$223,383
Kim SchroederChief Technology OfficerFT$152,788$34,272$187,060

Board Members and Trustees

NameTitle
William HansenChairman and Pres. (thru 11/9/18)
Larry LutzPresident (beg. 11/9/18)
Erin RothBoard Member
Scott FlemingBoard Member
Thomas DawsonBoard Member
Jinee MajorsSecretary
Matthew B Murphy IiiTreasurer (beg. 11/9/18)
Stephen C HamTreasurer (thru 3/9/18)

Highest Paid Contractors

ContractorServicesLocationCompensation
Eimagine Technology Group INCConsulting Services8925 NORTH MERIDIAN STREET SUITE 1, Indianapolis, IN 46260$321,089
Securitas Security ServicesSecurity Services9101 NORTH WESLEYAN ROAD 200, Indianapolis, IN 46268$188,523
Allegis Group Holdings INCConsulting Services7301 PARKWAY DR, Hanover, MD 21076$168,833
Digital Visions LLCConsulting Services2951 E KEMPER ROAD, Cincinnati, OH 45241$131,544
Elwood Staffing Services INCContractor Services4111 CENTRAL AVENUE, Columbus, IN 47202-1024$113,642
Revenue and Support

Revenue Composition

Contributions and Grants
$12,670,249
Program Service Revenue
$14,027,075
Investment Income
$-777,005
Other Revenue
$0
All Other Contributions
$200,319
Change in Net Assets
$1,453,625
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,673,245
Other Expenses$6,793,449
Total Fundraising Expense$36,728
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,506,993$2,861,180$33,283$13,401,456
Other Employee Benefits$2,097,962$266,832-$2,364,794
Occupancy$1,299,830$79,242-$1,379,072
Information Technology$574,468$802,629-$1,377,097
Payroll Taxes$984,729$201,598$3,445$1,189,772
Interest-$889,152-$889,152
Depreciation Depletion$581,978$200,539-$782,517
Current Officers, Directors, Trustees, and Key Employees$194,641$522,582-$717,223
Fees for Services Other$60,337$636,006-$696,343
Travel$211,509$149,906-$361,415
Office Expenses$223,211$76,132-$299,343
Advertising$69,739$122,782-$192,521
Conferences and Meetings$7,997$67,537-$75,534
Fees for Services Legal-$18,500-$18,500
Other Expenses$70$11,958-$12,028
Fees for Services Accounting$3,429$5,307-$8,736
Insurance$122$2,749-$2,871
Fees for Service Investment Mgmnt Fees$120$1,640-$1,760
Total Functional Expenses$17,242,734$7,187,232$36,728$24,466,694
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit From Strada Education Network, Inc.$14,969,295
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Persons listed in part vii may have a "business relationship" with each other by virtue of sitting on related education at work, inc. Boards or by virtue of their employment with related education at work, inc. Entities.

Form 990, Part VI, Section A, Line 6

Strada education network, inc. Is the sole member of education at work, inc.

Form 990, Part VI, Section A, Line 7A

Strada education network, inc. Is the sole member of education at work, inc. As the sole member, strada education network, inc. Has the right to (a) elect and remove the members of the board of trustees of education at work, inc. And (b) fill any vacancy of the board of trustees.

Form 990, Part VI, Section A, Line 7B

Education at work, inc.'s sole member is strada education network, inc. Which shall have the rights and duties as provided in the corporation's regulations. In furtherance and not in limitation of powers conferred by law, the member is expressly authorized to make, adopt, alter, amend and repeal, from time to time, the regulations of the corporation. The member shall act through action taken by its board of trustees.

Form 990, Part VI, Section B, Line 11B

Once the form 990 is prepared by the company, with assistance from the external tax accounting firm, the form 990 and all applicable schedules are electronically sent out to the full board of education at work, inc. In advance of the form 990 being filed with the irs, allowing time for review and comment by the full board.

Form 990, Part VI, Section B, Line 12C

All trustees and officers of education at work, inc. Are employees of the sole member - strada education network, inc. Which requires an annual conflict of interest statement. For strada employees, a conflict of interest and disclosure questionnaire is required, annually, to be completed. The purpose of the questionnaire is to solicit information about relationships that may constitute a potential conflict of interest. Each member of the board of trustees signs an annual conflict of interest disclosure statement that discloses actual or potential conflicts of interest as set forth in the approved conflict of interest policy for trustees. The disclosure statements are reviewed by the governance committee of the board of trustees. When any such conflict of interest is relevant to a matter requiring action by the board of trustees or any committee, the interested person shall call it to the attention of the chair of the committee, and such person shall not vote on the matter. Moreover, the person having the conflict shall leave the room in which the meeting is held and not participate in the final deliberations or decisions regarding the matter under consideration. A trustee shall advise the chair of the governance committee and the corporate secretary in the writing of any potential conflicts of interest which arise after signing the conflict of interest disclosure statement.

Form 990, Part VI, Section B, Line 15

Compensation determinations of education at work, inc.'s president and the other officers for calendar year 2018 were made by a compensation committee of the board of trustees of the sole member, strada education network, inc. Whose members have no conflict of interest within the meaning of the treas. Reg. 53.4958-6(c)(1)(iii). The compensation committee establishes the compensation philosophy, and with comparability data provided by an independent compensation consultant, annually evaluates the performance of the president and all other officers, and determines in advance the reasonableness of compensation paid to and benefits provided to such individuals. The determinations made and the basis of such determinations are contemporaneously documented in written minutes. Final determinations are reported to the full board of trustees of strada education network, inc.

Form 990, Part VI, Section C, Line 19

The organization makes any document open to public inspection available upon request.

Filing and Contact Details

Filer

Filer Name
Education at Work Inc
EIN
45-4035038
Phone
5138413600
Address
2300 WALL STREET SUITE R, CINCINNATI, OH 45212

Signing Officer

Name
Jaime Nunez
Title
President
Phone
5138413600
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jaime Nunez
Formed
2011
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
0
Employees
1,414
Volunteers
0

Preparer

Firm
Deloitte Tax Llp
Address
111 MONUMENT CIRCLE SUITE 4200, INDIANAPOLIS, IN 46204-5108
Preparer
Samantha Bokori
Phone
3174648600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Effective june 4, 2018, student connections, llc, a disregarded entity of education at work, inc., ceased operations under education at work, inc. And all assets were disposed to an unrelated organization.

FORM 990, PART XI, LINE 9:

Transfer of net assets from strada education network, inc. 619,875.

Financial Statement Notes

PART X, LINE 2:

Education at work, inc. Is included in the consolidated financial statements of strada education network, inc. Per the consolidated financial statements, "strada accounts for uncertainties in income taxes on a more-likely-than-not criterion based on the positions taken or expected to be taken in a tax return. There were no uncertainties that require recognition or disclosure as of december 31, 2018 and 2017."

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0EDUCATION AT WORK, INC.'S MISSION IS TO PROVIDE FINANCIAL AND OTHER SUPPORT FOR, AND TO OTHERWISE OPERATE FOR THE BENEFIT OF, ROADTRIP NATION, LTD. TO PURSUE THEIR MISSION OF EMPOWERING STUDENTS TO FIND THEIR ROAD IN LIFE, THEIR LIFE PATH, THROUGH EDUCATION CURRICULUM AND HANDS ON EXPERIENCES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIR PROD INNOVATION
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP, CUSTOMER SUPPORT
IRS990/Form990PartVIISectionAGrp/TitleTxt15CHIEF DEVELOPMENT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16FORMER HIGHEST COMPENSATED EMPLOYEE
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IRS990/MissionDesc0EDUCATION AT WORK, INC.'S MISSION IS TO PROVIDE FINANCIAL AND OTHER SUPPORT FOR, AND TO OTHERWISE OPERATE FOR THE BENEFIT OF, ROADTRIP NATION, LTD. TO PURSUE THEIR MISSION OF EMPOWERING STUDENTS TO FIND THEIR ROAD IN LIFE, THEIR LIFE PATH, THROUGH EDUCATION CURRICULUM AND HANDS ON EXPERIENCES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION AT WORK, INC., THROUGH ITS DISREGRADED ENTITY STUDENT CONNECTIONS, LLC, PROVIDES PRODUCTS AND SERVICES WHICH INCLUDE A STUDENT-LOAN DEFAULT-PREVENTION SOLUTION AND AN INTERACTIVE LEARNING TECHNOLOGY THAT BUILDS SKILLS THAT DRIVE COLLEGE RETENTION AND COMPLETION. STUDENT CONNECTIONS, LLC PARTNERS WITH POSTSECONDARY INSTITUTIONS TO SUPPORT THE SUCCESS OF 3.5 MILLION STUDENTS ACROSS MORE THAN 500 CAMPUSES THROUGHOUT THE U.S. TO HELP RESOLVE THE DELINQUENCIES AND PREVENT THE DEFAULT OF STUDENT LOANS.
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