Southwest Virginia Workforce Development Board
- Assets
- $188.1k
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 23
- Location
- Lebanon, VA
- Founding
- 06/2002
- Data as of
- 06/2021
- EIN
- 54-2010445
Organization Overview
Southwest Virginia Workforce Development Board is located in Lebanon, VA. The organization was established in 2002. 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 06/2021, Southwest Virginia Workforce Development Board employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Virginia Workforce Development Board 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, Southwest Virginia Workforce Development Board generated $3.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $3.2m during the year ending 06/2021. While expenses have increased by 7.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF TRAINING AND EDUCATION TO UNEMPLOYED OR LOW INCOME INDIVIDUALS USING WORKFORCE INVESTMENT GRANTS FROM VIRGINIA EMPLOYMENT COMMISSION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF JOBS TRAINING, EDUCATION AND SUPPORT FOR UNEMPLOYED WORKERS (LOW INCOME) AND SUMMER PROGRAMS FOR LOWER INCOME YOUTHS IN AREA THROUGH GRANTS FROM THE DEPARTMENT OF LABOR PASS THROUGH LOCAL STATE AGENCIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aleta Spicer Executor Dir | OfficerTrustee | 40 | $0 |
Larry Mosely Chair | Trustee | $0 | |
Mike Hymes Vice Chair | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,241,975 |
| 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 | $3,241,975 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $3,241,975 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $16,008 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,036,533 |
| Pension plan accruals and contributions | $16,167 |
| Other employee benefits | $221,846 |
| Payroll taxes | $85,414 |
| 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 | $66,911 |
| Advertising and promotion | $0 |
| Office expenses | $64,518 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $107,831 |
| Travel | $756 |
| 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 | $23,994 |
| All other expenses | $1,528,501 |
| Total functional expenses | $3,232,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,067 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $188,067 |
| Accounts payable and accrued expenses | $125,272 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $125,272 |
| Net assets without donor restrictions | $62,795 |
| 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 | $188,067 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Southwest Virginia Workforce Development Board has recieved totaling $607,500.
| Awarding Organization | Amount |
|---|---|
The Thompson Charitable Foundation Knoxville, TN PURPOSE: PROJECT RECONNECT | $100,000 |
The Thompson Charitable Foundation Knoxville, TN PURPOSE: S-BEE PROGRAM | $100,000 |
The Thompson Charitable Foundation Knoxville, TN PURPOSE: LETS TRAIN PROGRAM | $100,000 |
The Thompson Charitable Foundation Knoxville, TN PURPOSE: S-BEE PROGRAM | $100,000 |
The Thompson Charitable Foundation Knoxville, TN PURPOSE: LETS TRAIN PROGRAM | $100,000 |
The Thompson Charitable Foundation Knoxville, TN PURPOSE: PROJECT RECONNECT | $77,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Generation Usa Washington, DC | $17,938,466 | $7,677,123 |
Change Incorporated Weirton, WV | $10,912,278 | $21,367,906 |
Opportunities Industrialization Center Inc Rocky Mount, NC | $10,127,019 | $21,768,634 |
Skills Usa Inc Leesburg, VA | $8,575,895 | $14,271,991 |
Opportunity At Work Inc Washington, DC | $8,759,075 | $9,572,974 |
Southeast Community Capital Corporation Nashville, TN | $264,396,878 | $22,555,455 |
Second Chance Inc Baltimore, MD | $22,971,247 | $13,264,528 |
Northern Middle Tennessee Local Workforce Development Board Inc Clarksville, TN | $2,905,431 | $10,764,896 |
Anne Arundel Workforce Development Corporation Inc Millersville, MD | $2,854,225 | $10,470,291 |
Workforce Essentials Inc Clarksville, TN | $30,139,027 | $9,106,360 |
Experience Works Inc Severna Park, MD | $76,388 | $8,997,468 |
Urban Alliance Foundation Inc Washington, DC | $17,000,062 | $13,601,733 |