Southwestern West Virginia Region 2 Workforce Development Board Incorp

Analysis

Southwestern West Virginia Region 2 Workforce Development Board Incorp is a registered charity in United States, based in Huntington, WV. It received its IRS tax-exemption ruling in January 2001, 25 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, Southwestern West Virginia Region 2 Workforce Development Board Incorp reported income of $4.5m and spending of $4.4m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $4.5m (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2022, when income rose by 18%. 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, Southwestern West Virginia Region 2 Workforce Development Board Incorp sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WV. Charities of a similar size with the same main cause include Nuestra Comunidad Development Corp ($4.5m), Coastal Counties Workforce Inc ($4.5m) and Metro Community Development Inc ($4.5m).

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 $103k (2.3% of expenses). Other salaries and wages came to $851k. At year end it held assets of $792k against liabilities of $430k, net assets of $363k. It reported 28 employees.