Metro Southwest Workforce Board Inc

Analysis

Metro Southwest Workforce Board Inc is a registered charity in United States, based in Marlborough, MA. It received its IRS tax-exemption ruling in June 2018, 8 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, Metro Southwest Workforce Board Inc reported income of $6.8m and spending of $6.9m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $6.8m (+75%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 100%. 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, Metro Southwest Workforce Board Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include National Accrediting Commission of Career Arts & Sciences Inc ($6.8m), Wayne State Univ Research & Techno- Logy Park in the City of Detroit ($6.8m) and Buffalo & Erie County Industrial Land Development Corp ($6.8m).

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 $362k (5.2% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $1.5m against liabilities of $1.4m, net assets of $105k. It reported 37 employees.