West Piedmont Workforce Investment Board

Analysis

West Piedmont Workforce Investment Board is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in March 2003, 23 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, West Piedmont Workforce Investment Board reported income of $2.9m and spending of $2.9m, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $2.9m (+57%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 55%. 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, West Piedmont Workforce Investment Board sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include East Colfax Community Collective ($2.9m), New Braunfels Area Community Foundation ($2.9m) and On Broadway Inc ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $97k (3.4% of expenses). Other salaries and wages came to $187k. At year end it held assets of $2.4m against liabilities of $2.3m, net assets of $89k.