Workforce Dev BD of the Tres Coast

Analysis

Workforce Dev BD of the Tres Coast is a registered charity in United States, based in Fort Pierce, FL. It received its IRS tax-exemption ruling in November 1988, 38 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, Workforce Dev BD of the Tres Coast reported income of $5.9m and spending of $6.0m, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $6.5m to $5.9m (-8.4%), an average of -2.9% a year. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workforce Dev BD of the Tres Coast 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 Choicelight Inc ($5.9m), Mayfield Graves LTRG Inc ($5.9m) and Chesterfield-Marlboro Counties Economic Opportunity Council Inc ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $379k (6.3% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $4.0m against liabilities of $3.8m, net assets of $145k. It reported 51 employees.