Shenandoah Valley Workforce Investment Board Inc
- Assets
- $773.6k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 20
- Location
- Harrisonburg, VA
- Founding
- 10/2000
- Data as of
- 06/2023
- EIN
- 54-1993339
Organization Overview
Shenandoah Valley Workforce Investment Board Inc is located in Harrisonburg, VA. The organization was established in 2000. 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 06/2023, Shenandoah Valley Workforce Investment Board Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shenandoah Valley 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 06/2023, Shenandoah Valley Workforce Investment Board Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SVWDB IS TO: BUILD PARTNERSHIPS TO CREATE WORKFORCE OPPORTUNITIES THAT CULTIVATE BUSINESS, GROW JOBS, DEVELOP PEOPLE AND BUILD COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHENADOAH VALLEY PROVIDED JOB TRAINING FOR ADULTS UNDER THE WIOA ADULT PROGRAM. ADULTS THAT MET CERTAIN CRITERIA AND DISPLAYED A NEED FOR TRAINING RECEIVED TRAINING IN CERTAIN AREAS THAT WOULD PROVIDE THEM WITH A SKILL THAT WOULD MAKE THEM MORE MARKETABLE.
EXPENSES: 20,876 INCLUDING GRANTS OF: 0 REVENUE: 24,678 DESCRIPTION: PROVIDED THE NECESSARY JOB TRAINING AND EDUCATIONAL SKILLS TO IN SCHOOL YOUTH THAT MET THE REQUIREMENTS ESTABLISHED BY DEPARTMENT OF LABOR EXPENSES: 41,608 INCLUDING GRANTS OF: 0 REVENUE: 50,193 DESCRIPTION: WORKFORCE INNOVATION GRANT EXPENSES: 100,420 INCLUDING GRANTS OF: 0 REVENUE: 100,420 DESCRIPTION: GUARD GRANT EXPENSES: 16,234 INCLUDING GRANTS OF: 0 REVENUE: 19,471 DESCRIPTION: NETWORK2WORK EXPENSES: 100,988 INCLUDING GRANTS OF: 0 REVENUE: 17,380 DESCRIPTION: OTHER
PROVIDE JOB TRAINING AND EDUCATION TO CLIENTS THAT WERE DISPLACED FROM THEIR JOBS DURING THE YEAR. THIS WAS DONE UNDER THE DISLOCATED WORKER PROGRAM AS FUNDED UNDER THE WIOA DISLOCATED WORKER PROGRAM.
PROVIDED THE NECESSARY JOB TRAINING AND EDUCATIONAL SKILLS TO OUT OF SCHOOL YOUTH THAT MET THE REQUIREMENTS ESTABLISHED BY DEPARTMENT OF LABOR. THIS WAS DONE UNDER WIOA OUT OF SCHOOL SCHOOL YOUTH PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Lee Loveland Link Secretary/tr | OfficerTrustee | 1 | $0 |
John Albert Board Member | Trustee | 1 | $0 |
Patrick Barker Board Member | Trustee | 1 | $0 |
Sharon Baroncelli Board Member | Trustee | 1 | $0 |
Corey Berkstresser Board Member | Trustee | 1 | $0 |
Andrew Breeding Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lord Fairfax Service Provider | 6/29/17 | $272,906 |
Goodwill Industries Service Provider | 6/29/17 | $1,544,986 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,798,037 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,471 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,817,508 |
| Total Program Service Revenue | $0 |
| Investment income | $161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $83,665 |
| 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 | $1,901,334 |
| 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. | $150,569 |
| Compensation of current officers, directors, key employees. | $74,260 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $554,161 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $195,411 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,725 |
| 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 | $117,830 |
| Information technology | $13,286 |
| Royalties | $0 |
| Occupancy | $137,984 |
| Travel | $31,928 |
| 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 | $10,373 |
| All other expenses | $1,458 |
| Total functional expenses | $1,905,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,194 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $127,278 |
| 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 | $57,320 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $384,775 |
| Total assets | $773,567 |
| Accounts payable and accrued expenses | $55,482 |
| Grants payable | $0 |
| Deferred revenue | $255,435 |
| 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 | $430,359 |
| Total liabilities | $741,276 |
| Net assets without donor restrictions | $32,291 |
| 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 | $773,567 |