Eastern Connecticut Workforce Investment Board Inc

Analysis

Eastern Connecticut Workforce Investment Board Inc is a registered charity in United States, based in Franklin, CT. It received its IRS tax-exemption ruling in July 1985, 41 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, Eastern Connecticut Workforce Investment Board Inc reported income of $17.1m and spending of $16.9m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.2m to $17.1m (+86%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Eastern Connecticut Workforce Investment Board Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within CT. Charities of a similar size with the same main cause include Commission on Economic Opportunity for the Rensselaer County Area Inc ($17.1m), Galt Foundation ($17.2m) and Northwest Arkansas Council Foundation ($17.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $780k (4.6% of expenses). Other salaries and wages came to $479k. At year end it held assets of $3.0m against liabilities of $2.0m, net assets of $1.0m. It reported 13 employees.