Workforce Innovations

Analysis

Workforce Innovations is a registered charity in United States, based in Dyersburg, TN. It received its IRS tax-exemption ruling in October 2017, 9 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 Innovations reported income of $6.0m and spending of $6.1m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.6m to $6.0m (+67%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 59%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workforce Innovations sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within TN. Charities of a similar size with the same main cause include Oregon Manufacturing Extension Partnership Inc ($6.0m), Neighborhood Housing Services of Baltimore Inc ($6.0m) and City of Baltimore Development Corporation ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $191k (3.2% of expenses). Other salaries and wages came to $797k. At year end it held assets of $1.9m against liabilities of $1.8m, net assets of $116k. It reported 17 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.