Workforce Development Institute Inc

Analysis

Workforce Development Institute Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Development Institute Inc reported income of $11.5m and spending of $11.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.0m to $11.5m (+27%), an average of +6.2% a year. The sharpest change came in the year to June 2022, when income rose by 52%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Workforce Development Institute 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 95th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Teachers Treasures Inc ($11.5m), University of Alberta Foundation USA Inc ($11.5m) and Afya Baltimore Incorporated ($11.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $387k (3.4% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $4.2m against liabilities of $3.3m, net assets of $907k. It reported 39 employees.