Gulf Coast Workforce Development Board Inc

Analysis

Gulf Coast Workforce Development Board Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in March 1998, 28 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, Gulf Coast Workforce Development Board Inc reported income of $4.1m and spending of $4.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.5m to $4.1m (-37%), an average of -11% a year. The sharpest change came in the year to June 2020, when income rose by 93%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gulf Coast Workforce Development Board Inc 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 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Maine Special Education Mental ($4.1m), Union Academy Foundation ($4.1m) and Lighthouse Christian School Inc ($4.1m).

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 $345k (7.6% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $4.3m against liabilities of $3.3m, net assets of $1.0m. It reported 56 employees.