Rural Capital Area Workforce Development Board Inc

Analysis

Rural Capital Area Workforce Development Board Inc is a registered charity in United States, based in Cedar Park, TX. It received its IRS tax-exemption ruling in August 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 September 2023, Rural Capital Area Workforce Development Board Inc reported income of $45.7m and spending of $46.4m, spending 102% of its income. Across the 6 years on record, from June 2019 to September 2023, income grew from $28.6m to $45.7m (+59%), an average of +9.8% a year. The sharpest change came in the year to September 2021, when income rose by 259%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rural Capital Area Workforce Development Board Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include American Welding Society Inc ($45.4m), Goodwill Industries of the Columbia ($45.8m) and Youth Co-Op Inc ($45.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $8.7m against liabilities of $7.8m, net assets of $885k. It reported 28 employees.