Eastern Connecticut Workforce Investment Board Inc
- Assets
- $2.2m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 13
- Location
- Franklin, CT
- Founding
- 07/1985
- Data as of
- 06/2022
- EIN
- 22-2595913
Organization Overview
Eastern Connecticut Workforce Investment Board Inc is located in Franklin, CT. The organization was established in 1985. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2022, Eastern Connecticut Workforce Investment Board Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern Connecticut Workforce Investment Board Inc 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, Eastern Connecticut Workforce Investment Board Inc generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $11.3m during the year ending 06/2022. While expenses have increased by 4.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CORPORATION SHALL BE TO ESTABLISH AND OVERSEE A SEAMLESS SYSTEM OF WORKFORCE SERVICES THAT: CREATIVELY MEETS THE NEEDS OF EMPLOYERS, EMPLOYEES, JOB SEEKERS, AND YOUTH. PARTNERS WITH APPROPRIATE OPERATING UNITS OF THE STATE OF CT, THE TWO COUNCILS OF GOVERNMENT WITHIN THE EASTERN CT WORKFORCE INVESTMENT AREA. THEY UTILIZES STATE OF THE ART CONCEPTS AND APPROACHES, PROMOTES PERFORMANCE BASED OUTCOMES, MAXIMIZES AND LEVERAGES MULTIPLE SOURCES OF FUNDING, FOUR REGIONAL CTWORKS-EAST ONE-STOP CAREER CENTERS LOCATED IN DANIELSON, NEW LONDON, NORWICH, AND WILLIMANTIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANUFACTURING PIPELINE INITIATIVE SERVICES
ADULT RELATED EMPLOYMENT SERVICES
YOUTH RELATED EMPLOYMENT SERVICES
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hill President/ceo | 40 | $158,286 | |
John Beauregard Special Advisor | 40 | $146,000 | |
Guy Saporito Chief Financial & Admin. Officer | 40 | $130,397 | |
Carol Labelle Senior Director | 40 | $120,209 | |
Thayne D Hutchins Jr Vice Chairman | Officer | 1 | $0 |
Christopher Jewell Chairman | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,971,867 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,052,697 |
| Total Program Service Revenue | $0 |
| Investment income | $7,649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,319 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,033,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $708,499 |
| Compensation of current officers, directors, key employees. | $473,502 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $481,528 |
| Pension plan accruals and contributions | $36,093 |
| Other employee benefits | $173,704 |
| Payroll taxes | $80,226 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,950 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $182,056 |
| Total functional expenses | $11,259,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,133,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $811,211 |
| Accounts receivable, net | $15,050 |
| 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 | $12,232 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $241,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,517 |
| Total assets | $2,220,849 |
| Accounts payable and accrued expenses | $1,062,774 |
| Grants payable | $0 |
| Deferred revenue | $152,953 |
| 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 | $17,318 |
| Total liabilities | $1,233,045 |
| Net assets without donor restrictions | $643,365 |
| Net assets with donor restrictions | $344,439 |
| 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 | $2,220,849 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Eastern Connecticut Workforce Investment Board Inc has recieved totaling $21,000.
| Awarding Organization | Amount |
|---|---|
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $10,000 |
Liberty Bank Foundation Middletown, CT PURPOSE: TO SUPPORT THE SUMMER YOUTH EMPLOYMENT PROGRAM IN SOUTHEASTERN CT | $5,000 |
Centreville Savings Bank Charitable Foundation West Warwick, RI PURPOSE: EXEMPT PURPOSE | $5,000 |
Eastern Ct Savings Bank Foundation Inc Norwich, CT PURPOSE: TO FUND A YOUTH JOB SKILLS TRAINING PROGRAM. THE PROGRAM WILLPREPARE 300 ATRISK YOUTH AGES 14 24 FOR EMPLOYMENT. WORKSITESFROM THE NEW LONDON/WINDHAM COUNTY AREA WILL BE RECRUITED TOMENTOR THE TRAINEES. | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consortium For Worker Education Inc New York, NY | $27,138,774 | $23,461,109 |
Youthbuild Usa Inc Roxbury, MA | $41,660,191 | $41,513,584 |
Capital Workforce Partners Inc Hartford, CT | $3,681,949 | $22,085,213 |
National Telecommuting Institute Boston, MA | $7,581,785 | $15,508,649 |
Masshire Hampden County Workforce Board Inc Springfield, MA | $3,346,725 | $13,329,757 |
South Middlesex Non-Profit Housing Corporation Framingham, MA | $86,868,885 | $12,461,508 |
Lifestyles For The Disabled Inc Staten Island, NY | $5,937,706 | $11,027,240 |
Buffalo And Erie County Workforce Development Consortium Inc Buffalo, NY | $1,944,049 | $11,546,333 |
Eastern Connecticut Workforce Investment Board Inc Franklin, CT | $2,220,849 | $11,033,375 |
Workforce Alliance Inc New Haven, CT | $2,201,686 | $11,291,916 |
Academy Of Management Inc Briarcliff Manor, NY | $56,747,597 | $15,919,073 |
Career Resources Inc Bridgeport, CT | $3,329,042 | $9,544,012 |