Newark Workforce Investment Board Inc

Analysis

Newark Workforce Investment Board Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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, Newark Workforce Investment Board Inc reported income of $1.6m and spending of $1.4m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $534k to $1.6m (+201%), an average of +32% a year. The sharpest change came in the year to June 2021, when income rose by 76%. Over the whole period it spent 81% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Newark Workforce Investment Board Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within NJ. Charities of a similar size with the same main cause include Manitou Council Inc ($1.6m), Upward Unlimited ($1.6m) and Boys and Girls Club of Cape Cod Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $939k against liabilities of $58k, net assets of $881k. It reported 5 employees.