Greater New Bedford Workforce Investment Board Inc
- Assets
- $1.1m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- New Bedford, MA
- Founding
- 01/1997
- Data as of
- 06/2022
- EIN
- 04-3306335
Organization Overview
Greater New Bedford Workforce Investment Board Inc, operating under the name Masshire Greater New Bedford, is located in New Bedford, MA. The organization was established in 1997. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masshire Greater New Bedford is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Masshire Greater New Bedford generated $4.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $4.4m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Masshire Greater New Bedford has awarded 27 individual grants totaling $1,136,169. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COORDINATOR OF WORKFORCE DEVELOPMENT TRAINING. THE WORKFORCE BOARD MISSION IS TO PROVIDE LEADERSHIP AND OVERSIGHT FOR THE LOCAL WORKFORCE DEVELOPMENT SYSTEM BY SECURING AND ALLOCATING PUBLIC AND PRIVATE FUNDS TO PROGRAMS AND INITIATIVES THAT DEVELOP A SKILLED AND EDUCATED WORKFORCE, MEET THE WORKFORCE NEEDS OF EMPLOYERS AND SUPPORT ECONOMIC DEVELOPMENT IN GREATER NEW BEDFORD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MET THE NEEDS OF BUSINESSES AND WORKERS BY DRIVING WORKPLACE SOLUTIONS IN THE GREATER NEW BEDFORD REGION. OVERSAW THE INSTITUTION THROUGH THE CAREER CENTER OF EXCELLENT CUSTOMER SERVICE TO JOB SEEKERS AND EMPLOYERS WITH A FOCUS ON CONTINUOUS IMPROVEMENT. CONTINUED TO CREATE A WORKFORCE SYSTEM THAT SUPPORTS STRONG REGIONAL ECONOMIES AND PLAYS AN ACTIVE ROLE IN COMMUNITY AND WORKFORCE DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margarita Graham Board Director | Trustee | 0 | $0 |
David Cabral Board Director | Trustee | 0 | $0 |
Haskell Kennedy III Board Director | Trustee | 0 | $0 |
David Maher Board Director | Trustee | 0 | $0 |
Jeff Glassman Board Director | Trustee | 0 | $0 |
Ron Melbourne Board Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paaca Training | 6/29/18 | $131,653 |
New Directions Southcoast Inc Lead Operator | 6/29/18 | $1,786,992 |
Bristol Community College Youth&adult Ed | 6/29/18 | $122,702 |
Mass Manufacturing Extension Partne Youth &Adult Ed | 6/29/18 | $110,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,440,567 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,440,567 |
| Total Program Service Revenue | $56,534 |
| Investment income | $1,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,498,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $452,133 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $164,679 |
| Compensation of current officers, directors, key employees. | $35,764 |
| Compensation to disqualified persons | $31,012 |
| Other salaries and wages | $690,707 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $140,024 |
| Payroll taxes | $82,038 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,994 |
| Office expenses | $40,591 |
| Information technology | $28,032 |
| Royalties | $0 |
| Occupancy | $26,183 |
| Travel | $1,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,047 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $462,332 |
| Total functional expenses | $4,446,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,922 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $906,831 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,038 |
| Net Land, buildings, and equipment | $49,496 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,114,287 |
| Accounts payable and accrued expenses | $401,050 |
| Grants payable | $0 |
| Deferred revenue | $127,580 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $528,630 |
| Net assets without donor restrictions | $585,657 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,114,287 |
Grants Awarded
Over the last fiscal year, Greater New Bedford Workforce Investment Board Inc has awarded $452,133 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BIC PURPOSE: GRANT | $7,930 |
NORTH STAR PURPOSE: GRANT | $84,880 |
EWORKS PURPOSE: GRANT | $57,417 |
HOME HEALTH PURPOSE: GRANT | $6,576 |
PACE PURPOSE: GRANT | $76,533 |
HAMPDEN PURPOSE: GRANT | $38,351 |