Workforce Development Board of FLTN Montgomery & Schoharie Cnties Inc

Analysis

Workforce Development Board of FLTN Montgomery & Schoharie Cnties Inc is a registered charity in United States, based in Amsterdam, NY. It received its IRS tax-exemption ruling in October 2005, 21 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 2024, Workforce Development Board of FLTN Montgomery & Schoharie Cnties Inc reported income of $1.6m and spending of $1.6m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $1.6m (+0.2%), an average of +0.1% a year. The sharpest change came in the year to June 2021, when income dropped 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, Workforce Development Board of FLTN Montgomery & Schoharie Cnties Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Providence International Enterprises ($1.6m), Pacific Northwest Tribal Lending a Community Development Financial ($1.6m) and Barberton Community Development Corporation ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $85k (5.2% of expenses). Other salaries and wages came to $128k. At year end it held assets of $150k against liabilities of $70k, net assets of $80k. It reported 4 employees.