Lower Rio Grande Valley Work Force Development Board Inc

Analysis

Lower Rio Grande Valley Work Force Development Board Inc is a registered charity in United States, based in MC Allen, TX. It received its IRS tax-exemption ruling in March 2001, 25 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, Lower Rio Grande Valley Work Force Development Board Inc reported income of $95.4m and spending of $95.2m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $62.2m to $95.4m (+53%), an average of +11% a year. The sharpest change came in the year to September 2022, when income rose by 43%. 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, Lower Rio Grande Valley Work Force Development Board Inc sits at the 100th 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 Bosma Industries for the Blind Inc ($95.3m), Uniquesource Products & Services ($98.5m) and Goodwill Industries Manasota Inc ($94.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $298k (0.3% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $11.8m against liabilities of $10.7m, net assets of $1.2m. It reported 43 employees.