Workforce Development Institute Inc
- Assets
- $4.2m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 39
- Location
- Albany, NY
- Founding
- 07/2004
- Data as of
- 06/2023
- EIN
- 56-2420045
Organization Overview
Workforce Development Institute Inc is located in Albany, NY. The organization was established in 2004. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2023, Workforce Development Institute Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workforce Development Institute 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, Workforce Development Institute Inc generated $11.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $11.2m during the year ending 06/2023. While expenses have increased by 4.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE LIVES OF WORKING FAMILIES ACROSS NYS BY GATHERING WORKFORCE INTELLIGENCE THAT IS USED TO DEVELOP PROGRAMS IN EDUCATION AND TRAINING, ECONOMIC DEVELOPMENT, FAMILY SUPPORT, DISABLED AND DISLOCATED WORKERS SERVICES AND CULTURAL ENRICHMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WORKERS EDUCATION AND TRAINING PROGRAM PROVIDES EMPLOYMENT RELATED SERVICES TO INCUMBENT AND DISLOCATED WORKERS ACROSS NYS.
THE CHILD CARE PROGRAM FACILITATES THE ENROLLMENT AND EXPANDS ACCESS TO CHILD CARE SUBSIDIES FOR WORKING PARENTS EARNING UP TO 400% OF THE FEDERAL POVERTY LEVEL, SO THAT THEY ARE AVAILABLE FOR EDUCATION AND SKILL TRAINING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Desjardins Exec Dir | OfficerTrustee | 35 | $184,925 |
Allison Bashkoff CFO | Officer | 35 | $162,565 |
Jenn Duck Former Schneider Secretary | Trustee | 1 | $0 |
Daniel Mcgraw Treasurer | Trustee | 1 | $0 |
Jeffrey Binz Board Member | Trustee | 1 | $0 |
Samantha Deriso Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nys Labor-management Cooperation Committ Program Training | 6/29/23 | $269,437 |
Csea Inc Program Training | 6/29/23 | $259,780 |
Laborers' Local 17 Training & Educ Fund Program Training | 6/29/23 | $173,426 |
Labor Educ & Community Services Agency Program Training | 6/29/23 | $163,788 |
Multi-craft Appren Preparation Program Program Training | 6/29/23 | $156,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,191,363 |
| 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 | $10,191,363 |
| Total Program Service Revenue | $1,272,931 |
| Investment income | $540 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,900 |
| 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 | $11,476,077 |
| 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. | $386,661 |
| Compensation of current officers, directors, key employees. | $291,198 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,719,818 |
| Pension plan accruals and contributions | $180,947 |
| Other employee benefits | $543,056 |
| Payroll taxes | $242,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,645 |
| Fees for services: Accounting | $46,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $750,127 |
| Advertising and promotion | $441 |
| Office expenses | $378,821 |
| Information technology | $226,509 |
| Royalties | $0 |
| Occupancy | $342,840 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $166,333 |
| Interest | $84,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $24,919 |
| All other expenses | $0 |
| Total functional expenses | $11,230,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,367 |
| Savings and temporary cash investments | $211,495 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,133,281 |
| 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 | $157,969 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $658,795 |
| Total assets | $4,183,907 |
| Accounts payable and accrued expenses | $1,103,064 |
| Grants payable | $0 |
| Deferred revenue | $1,018,304 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $655,948 |
| Total liabilities | $3,277,316 |
| Net assets without donor restrictions | $906,591 |
| 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 | $4,183,907 |