Upper Cumberland Local Workforce Development Board Inc
- Assets
- $1.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Cookeville, TN
- Founding
- 08/2019
- Data as of
- 06/2023
- EIN
- 83-3661707
Organization Overview
Upper Cumberland Local Workforce Development Board Inc is located in Cookeville, TN. The organization was established in 2019. 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, Upper Cumberland Local Workforce Development Board Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upper Cumberland Local Workforce Development Board 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, Upper Cumberland Local Workforce Development Board Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. While expenses have increased by 8.5% per year over the past 4 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 ENGAGE EMPLOYERS, EDUCATORS AND COMMUNITY PARTNERS IN CREATING A LIFE-LONG LEARNING ENVIRONMENT IN THE UPPER CUMBERLAND THAT ATTRACTS AND RETAINS STRONG BUSINESSES AS WELL AS A DIVERSE, TALENTED WORKFORCE CRITICAL FOR SUSTAINING A VIBRANT, GROWING AND INNOVATIVE ECONOMY. THE UCLWDB WILL ACHIEVE THIS MISSION BY:DEVELOPING STRATEGIC PARTNERSHIPS WITH EMPLOYERS AND TRAINING PROVIDERS TO ALIGN TRAINING SERVICES WITH THE NEEDS OF AREA EMPLOYERS;ENHANCING CAREER DEVELOPMENT SERVICES FOR JOB SEEKERS TO INCREASE JOB SUCCESS AND KNOWLEDGE OF HIGH SKILL AND IN-DEMAND CAREERS;SECURING STATE AND/OR FEDERAL FUNDING TO DEVELOP NEW SKILLS TO MEET HIGH SKILL AND IN-DEMAND CAREERS; ANDCOORDINATING WIOA ACTIVITIES WITH THE REGION'S ECONOMIC DEVELOPMENT PLAN TO COORDINATE CURRENT AND FUTURE WORKFORCE GOALS AND ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENGAGE EMPLOYERS, EDUCATORS AND COMMUNITY PARTNERS IN CREATING A LIFE-LONG LEARNING ENVIRONMENT IN THE UPPER CUMBERLAND THAT ATTRACTS AND RETAINS STRONG BUSINESSES AS WELL AS A DIVERSE, TALENTED WORKFORCE CRITICAL FOR SUSTAINING A VIBRANT, GROWING AND INNOVATIVE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Williams Director | Trustee | 0.5 | $0 |
Bob Young Chairman | OfficerTrustee | 0.5 | $0 |
Randy Porter Cleo | OfficerTrustee | 0.5 | $0 |
John Bell Director | Trustee | 0.5 | $0 |
Ryan Barnhart Director | Trustee | 0.5 | $0 |
Tammy Hogan Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,524,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,246 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,561,541 |
| 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 | $3,561,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,395,360 |
| 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. | $141,458 |
| Compensation of current officers, directors, key employees. | $141,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,242 |
| Pension plan accruals and contributions | $26,420 |
| Other employee benefits | $43,499 |
| Payroll taxes | $19,785 |
| 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 | $75,209 |
| Advertising and promotion | $0 |
| Office expenses | $34,461 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,817 |
| Travel | $0 |
| 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 | $6,892 |
| All other expenses | $0 |
| Total functional expenses | $3,508,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $359,850 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $675,341 |
| 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 | $904 |
| 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 | $1,036,095 |
| Accounts payable and accrued expenses | $846,678 |
| 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 | $89,638 |
| Total liabilities | $936,316 |
| Net assets without donor restrictions | $0 |
| 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 | $99,779 |
| Total liabilities and net assets/fund balances | $1,036,095 |
Grants Awarded
Over the last fiscal year, Upper Cumberland Local Workforce Development Board Inc has awarded $2,395,360 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CAREER TEAM LLC PURPOSE: EMPLOYEE TRAINING, CHILD CARE, AND TRANSPORTATION FOR WORKFORCE DEVELOPMENT AND GROWTH IN THE MID-CUMBERLAND AREA. | $2,294,566 |
IN THE DOOR LLC PURPOSE: EMPLOYEE TRAINING, CHILD CARE, AND TRANSPORTATION FOR WORKFORCE DEVELOPMENT AND GROWTH IN THE MID-CUMBERLAND AREA. | $100,794 |