Workforce Development Board of Herkimer Madison and Oneida Counti

Analysis

Workforce Development Board of Herkimer Madison and Oneida Counti is a registered charity in United States, based in Utica, NY. It received its IRS tax-exemption ruling in April 1981, 45 years ago. Its declared purposes cover employment, 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, Workforce Development Board of Herkimer Madison and Oneida Counti reported income of $4.5m and spending of $4.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.1m to $4.5m (-12%), an average of -3.1% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workforce Development Board of Herkimer Madison and Oneida Counti sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Broward County Community Development Corporation Inc ($4.5m), Alliance for Strategic Growth Inc ($4.5m) and Honorable Order of Kentucky Colonels Inc ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $266k (5.8% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $2.3m against liabilities of $931k, net assets of $1.4m. It reported 137 employees.