Greater New Bedford Workforce Investment Board Inc

Analysis

Greater New Bedford Workforce Investment Board Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in January 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Greater New Bedford Workforce Investment Board Inc reported income of $5.5m and spending of $5.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.2m to $5.5m (+72%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater New Bedford Workforce Investment Board Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Lift Orlando Inc ($5.5m), Worklife Partnership ($5.6m) and Sacramento Regional Conservation Corps Inc ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $228k (4.1% of expenses). Other salaries and wages came to $484k. At year end it held assets of $1.4m against liabilities of $879k, net assets of $518k.