Workforce Development Corp

Organization Overview

Workforce Development Corp is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Workforce Development Corp employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workforce Development Corp 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 06/2021, Workforce Development Corp generated $12.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $14.4m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Workforce Development Corp has awarded 283 individual grants totaling $49,336,398. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE WORKFORCE DEVELOPMENT AND JOB CREATION THROUGH ACTIVITIES SPECIFICALLY DESIGNED TO CREATE SKILLED WORKFORCE IN THE CITY OF NEW YORK.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WORKFORCE TRAINING PROGRAMS INCLUDE CUSTOMIZED TRAINING, CAREER PATHWAYS TRAINING, EMPLOYER-BASED TRAINING, ENTERPRENEUR TRAINING, FOOD AND BEVERAGE INDUSTRY PARTNERSHIP,SECTOR BASED TRAINING, JAMAICA NOW ACTION PLAN, MEDIA AND ENTERTAINMENT TRAINING, AND TECH INDUSTRY PARTNERSHIPS. THROUGH MAJOR FUNDING SOURCE FROM EDC, THE ORGANIZATION HELPED CONNECT NEW YORKERS TO SECTOR-BASED OCCUPATIONAL SKILLS TRAINING AND INTERNSHIP OPPORTUNITIES, AND THEN TO FULL-TIME JOBS. IN ADDITION, THE ORGANIZATION HELPED BUSINESSES INCREASE THEIR COMPETITIVENESS BY PROVIDING SKILLS TRAINING FOR THEIR WORKERS, WHICH ALSO YIELDED HIGHER WAGES AND TRANSFERRABLE SKILLS FOR THE WORKERS.


BUSINESS FINANCIAL ASSISTANCE PROGRAM - THROUGH MAJOR FUNDING SOURCE FROM EDC AND IN RESPONSE TO COVID-19, THE ORGANIZATION DEVELOPED AND ADMINISTERED THE NYC EMPLOYEE RETENTION GRANT PROGRAM FOR BUSINESSES AFFECTED BY COVID-19 TO PROVIDE GRANTS TO EMPLOYERS WITH 5 OR LESS EMPLOYEES. SMALL BUSINESS EMERGENCY GRANT, SRRG AND INTEREST RATE REDUCTION GRANT, INTEREST RATE REDUCTION LOAN AND GRANT PROGRAMS


HEALTHCARE INDUSTRY PARTNERSHIP - THROUGH NYACH PROGRAMMING, THE ORGANIZATION HELPED CONNECT LOW INCOME AND UNEMPLOYED NEW YORKERS TO HEALTH CARE OCCUPATIONAL SKILLS TRAINING AND INTERNSHIP OPPORTUNITIES, AND THEN TO FULL TIME JOBS. IN ADDITION, THE ORGANIZATION HELPED DEVELOP HEALTHCARE TRAINING CURRICULUM BETTER ALIGNED TO THE NEEDS OF THE EMPLOYER.


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Board, Officers & Key Employees

Name (title)Compensation
Andy Schwartz
Chairman Of The Board
$0
Jackie Mallon
Executive Director
$0
Chenelle Dennis
Director
$0
Ismail Mohamed
Treasurer
$0
Lucinda Glover
Board Member
$0
David Berman
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $12,474,901
All other contributions, gifts, grants, and similar amounts not included above$66,672
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$12,541,573
Total Program Service Revenue$0
Investment income $24,742
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 $12,566,315

Grants Awarded

Over the last fiscal year, Workforce Development Corp has awarded $400,072 in support to 4 organizations.

Grant RecipientAmount

THE EDWARD J MALLOY INITIATIVE FOR

Org PageRecipient Profile

New York, NY

PURPOSE: Career Pathways Training

$285,204

PATHWAYS TO APPRENTICESHIP INC

Org PageRecipient Profile

Brooklyn, NY

PURPOSE: Career Pathways Training

$105,651

ADAM DAVID SCHAFFNER MD PLLC

PURPOSE: Business Financial Assistance Program

$9,217

CONT ON ATTACHED PDF

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$0
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Workforce Development Corp has recieved totaling $1,437,822.

Awarding OrganizationAmount
Robin Hood Foundation

New York, NY

PURPOSE: General

$825,000
Robin Hood Foundation

New York, NY

PURPOSE: General

$425,000
Jobs For The Future Inc

Boston, MA

PURPOSE: To support participation in the National Fund for Workforce Solutions Initiative

$187,822
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Pennsylvania Virtual Charter School
King Of Prussia, PA
$49,068,085
Tiegerman School
Glen Cove, NY
$36,850,171
Proteus Fund Inc
Amherst, MA
$46,264,432
Teach For All Inc
New York, NY
$50,938,774
Pay It Forward Foundation Inc
Pittsburgh, PA
$29,731,720
Lifesteps Inc
Butler, PA
$32,536,752
Lsny Bronx Corporation
New York, NY
$24,578,698
Boston Plastic & Oral Surgery Foundation Inc
Boston, MA
$23,739,730
Benefits Data Trust
Philadelphia, PA
$26,526,932
El Education Inc
New York, NY
$30,858,452
Voices For Independence
Erie, PA
$20,276,084
John A Coleman School
Yonkers, NY
$19,245,814

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