Polk County Workforce Development Board Inc

Analysis

Polk County Workforce Development Board Inc is a registered charity in United States, based in Bartow, FL. It received its IRS tax-exemption ruling in April 1997, 29 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, Polk County Workforce Development Board Inc reported income of $5.9m and spending of $5.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.7m to $5.9m (-24%), an average of -6.6% a year. The sharpest change came in the year to June 2021, when income rose by 45%. 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, Polk County Workforce Development Board Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Renaissance Development Fund ($5.9m), Centro de Economia Creativa Inc ($5.9m) and Southern Minnesota Initiative Foundation ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $401k (6.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $3.0m against liabilities of $1.5m, net assets of $1.5m. It reported 139 employees.