Eastern Carolina Workforce Development Board Inc

Analysis

Eastern Carolina Workforce Development Board Inc is a registered charity in United States, based in New Bern, NC. It received its IRS tax-exemption ruling in January 2000, 26 years ago. 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, Eastern Carolina Workforce Development Board Inc reported income of $3.9m and spending of $3.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.2m to $3.9m (-7.5%), an average of -1.9% a year. The sharpest change came in the year to June 2021, when income dropped by 20%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Eastern Carolina Workforce Development Board Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Jewish Community Center of Allentown Pennsylvania ($3.9m), Notre Dame Village ($3.9m) and Palmer Senior Citizens Center Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $186k (4.8% of expenses). Other salaries and wages came to $391k. At year end it held assets of $457k against liabilities of $456k, net assets of $1,308. It reported 9 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.