South Western West Virginia Region 2 Work Force Investment Board
- Assets
- $715.6k
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 38
- Location
- Huntington, WV
- Founding
- 01/2001
- Data as of
- 06/2022
- EIN
- 55-0775376
Organization Overview
South Western West Virginia Region 2 Work Force Investment Board is located in Huntington, WV. The organization was established in 2001. 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, South Western West Virginia Region 2 Work Force Investment Board employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Western West Virginia Region 2 Work Force Investment 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, South Western West Virginia Region 2 Work Force Investment Board generated $4.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $4.7m during the year ending 06/2022. While expenses have increased by 7.9% 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
TO PROVIDE ACTIVITIES UNDER THE WORKFORCE DEVELOPMENT SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE POLICY GUIDANCE AND EXERCISE OVERSIGHT FOR ACTIVITIES UNDER THE WORKFORCE DEVELOPMENT SYSTEM AND ITS SERVICE DELIVERY AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Shaw Youth Chairman | OfficerTrustee | 2 | $0 |
Greg Atkinson Director | Trustee | 2 | $0 |
Tommy Adkins Director | Trustee | 2 | $0 |
Jim Morgan Director | Trustee | 2 | $0 |
Thomas Taylor Director | Trustee | 2 | $0 |
Hugh Roberts Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,765,252 |
| 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 | $4,765,252 |
| 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 | $4,765,252 |
| 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. | $117,726 |
| Compensation of current officers, directors, key employees. | $117,726 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $859,980 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,743 |
| Payroll taxes | $90,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,000 |
| Fees for services: Accounting | $83,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $329,234 |
| Advertising and promotion | $0 |
| Office expenses | $146,920 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $415,856 |
| Travel | $72,780 |
| 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 | $25,719 |
| All other expenses | $0 |
| Total functional expenses | $4,738,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,916 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $312,627 |
| 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 | $7,081 |
| 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 | $715,624 |
| Accounts payable and accrued expenses | $364,647 |
| Grants payable | $0 |
| Deferred revenue | $9,258 |
| 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 | $373,905 |
| Net assets without donor restrictions | $341,719 |
| 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 | $715,624 |