Southwest Virginia Workforce Development Board

Analysis

Southwest Virginia Workforce Development Board is a registered charity in United States, based in Lebanon, VA. It received its IRS tax-exemption ruling in June 2002, 24 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, Southwest Virginia Workforce Development Board reported income of $2.7m and spending of $2.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $2.7m (+12%), an average of +3.0% a year. The sharpest change came in the year to June 2021, when income rose by 25%. 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, Southwest Virginia Workforce Development 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 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Rising Star Resource Development Corporation ($2.7m), Growth Sector Company ($2.7m) and Local 697 Ibew Apprentice ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $984k. At year end it held assets of $283k against liabilities of $81k, net assets of $203k. It reported 24 employees.