Workforce Essentials Inc
- Assets
- $30.3m
- Revenue
- $10.6m
- Investments
- $6.6m
- Employees
- 251
- Location
- Clarksville, TN
- Founding
- 09/1992
- Data as of
- 06/2023
- EIN
- 62-1498440
Organization Overview
Workforce Essentials Inc is located in Clarksville, TN. The organization was established in 1992. 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, Workforce Essentials Inc employed 251 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workforce Essentials 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 Essentials Inc generated $10.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $10.5m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) 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
JOB TRAINING & SUPPORT PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
WIOA//NEG PROGRAMS - JOB COUNSELING AND JOB TRAINING FOR UNEMPLOYED AND DISLOCATED WORKERS FROM WAVERLY FLOOD. SERVED APPROX 31 PARTICIPANTS. ALSO PROVIDES FISCAL AGENT SERVICES TO NORTHERN MIDDLE TENNESSEE LOCAL WORKFORCE DEVELOPMENT BOARD WIOA PROGRAMS WHICH SERVED 3,331 PARTICIPANTS.
BUSINESS SERVICES PROGRAMS - PROVIDE SUPPORT TO EMPLOYERS AND OFFER VARIOUS TRAINING AND TESTING. APPROX 1,275 CLIENTS SERVED.
FAMILIES FIRST PROGRAMS - PROVIDE TRANSPORTATION, NEEDS BASED PAYMENTS, AND TRAINING FOR LOW INCOME AND DISADVANTAGED PARENTS. APPROX 2,508 FAMILIES SERVED. TENNESSEE ALLIANCE FOR ECONOMIC MOBILITY SERVED 419 CLIENTS.
ADULT EDUCATION - PROVIDE SERVICES IN THE FORM OF INSTRUCTION IN LITERACY AND ENGLISH LANGUAGE AND ACADEMIC INSTRUCTION TO ASSIST INDIVIDUALS IN OBTAINING A HIGH SCHOOL EQUIVALENCY DIPLOMA. SERVED APPROX 3,149 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marla Rye President | Officer | 40 | $111,813 |
Robert Beecham Board Member | Trustee | 1 | $0 |
Howard Bradley Board Member | Trustee | 1 | $0 |
Joey Brake Board Member | Trustee | 1 | $0 |
Marilyn Bristol Secretary | Trustee | 1 | $0 |
Debra Daniels Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,512,961 |
| 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 | $5,512,961 |
| Total Program Service Revenue | $4,713,266 |
| Investment income | $127,651 |
| 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 | $10,596,456 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,475,985 |
| Pension plan accruals and contributions | $82,430 |
| Other employee benefits | $700,538 |
| Payroll taxes | $407,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,154 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $60,658 |
| Office expenses | $16,123 |
| Information technology | $67,759 |
| Royalties | $0 |
| Occupancy | $334,676 |
| Travel | $159,913 |
| 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 | $633,781 |
| Insurance | $293,084 |
| All other expenses | $483,749 |
| Total functional expenses | $10,495,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,797,785 |
| Savings and temporary cash investments | $91,568 |
| Pledges and grants receivable | $1,236,543 |
| Accounts receivable, net | $679,621 |
| 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 | $51,340 |
| Net Land, buildings, and equipment | $16,843,333 |
| Investments—publicly traded securities | $941,602 |
| Investments—other securities | $6,643,771 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,285,563 |
| Accounts payable and accrued expenses | $537,621 |
| Grants payable | $0 |
| Deferred revenue | $22,053 |
| 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 | $5,236 |
| Total liabilities | $564,910 |
| Net assets without donor restrictions | $29,715,635 |
| Net assets with donor restrictions | $5,018 |
| 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 | $30,285,563 |