Little Rock Workforce Development Board

Analysis

Little Rock Workforce Development Board is a registered charity in United States, based in Little Rock, AR. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, 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, Little Rock Workforce Development Board reported income of $2.9m and spending of $2.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $2.9m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 65%. 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, Little Rock Workforce Development Board 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 89th percentile, and in the 89th percentile within AR. Charities of a similar size with the same main cause include West Central Wisconsin Workforce Development Board Inc ($2.9m), Shaping Our Appalachian Region Inc ($2.9m) and Office of Port Job Opportunities and Business Support ($2.9m).

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 $148k (5.3% of expenses). Other salaries and wages came to $311k. At year end it held assets of $781k against liabilities of $1.5m, net assets of -$683k. It reported 3 employees.