Southwest Virginia Workforce Development Board
- Assets
- $371.0k
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 24
- Location
- Lebanon, VA
- Founding
- 06/2002
- Data as of
- 06/2022
- 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 06/2022, Southwest Virginia Workforce Development Board employed 24 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 06/2022, Southwest Virginia Workforce Development Board generated $2.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 3.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF TRAINING AND EDUCATION TO LOW-INCOME OR UNEMPLOYED INDIVIDUALS USING GRANTS FROM THE DEPARTMENT OF LABOR PASSED THROUGH LOCAL AND STATE AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF JOBS TRAINING, EDUCATION, AND SUPPORT FOR LOW-INCOME AND UNEMPLOYED WORKERS IN SOUTHWEST VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Miranda Board Member | Trustee | $0 | |
Andre Richmond Board Member | Trustee | $0 | |
Becky O'quinn-Purdie Board Member | Trustee | $0 | |
Bill Franklin Board Chair | OfficerTrustee | $0 | |
Beverly Proffitt Board Member | Trustee | $0 | |
Chris Sanders Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,599,441 |
| 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 | $2,599,441 |
| 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 | $2,599,441 |
| 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. | $85,077 |
| Compensation of current officers, directors, key employees. | $17,015 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $946,860 |
| Pension plan accruals and contributions | $16,363 |
| Other employee benefits | $185,950 |
| Payroll taxes | $78,201 |
| 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 | $21,472 |
| Advertising and promotion | $0 |
| Office expenses | $58,173 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $126,230 |
| Travel | $2,446 |
| 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 | $42,491 |
| All other expenses | $1,057,178 |
| Total functional expenses | $2,620,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,530 |
| 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 | $256,518 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $371,048 |
| Accounts payable and accrued expenses | $117,726 |
| 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 | $117,726 |
| Net assets without donor restrictions | $253,322 |
| 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 | $371,048 |