Workforce Midsouth Inc
- Assets
- $3.8m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 30
- Location
- Memphis, TN
- Founding
- Data as of
- 06/2022
- EIN
- 85-0869795
Organization Overview
Workforce Midsouth Inc is located in Memphis, TN. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2022, Workforce Midsouth Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workforce Midsouth 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 06/2022, Workforce Midsouth Inc generated $13.2m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $13.1m during the year ending 06/2022. While expenses have increased by 12.2% per year over the past 2 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
IMPLEMENTATION OF THE WORKFORCE INNOVATION & OPORTUNITY ACT (WIOA) OF 2014. THIS IS A FEDERAL GOVERNMENT FUNDED ACT THAT IS CHANNELD THROUGH THE STATE OF TN DEPARTMENT OF LABOR & WORKFORCE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE MID-SOUTH, INC. (WMS ) IS A NONPROFIT CORPORATION-DOMESTIC ORGANZATION. ITS'S PRIMARY ROLE IS FOR THE IMPLEMENTATION OF THE WORKFORCE INNOVATION AND OPPORTUNITY ACT (WIOA) OF 2014. THIS IS A FEDERAL GOVERNMENT FUNDED ACT THAT IS CHANNELED THROUGH THE STATE OF TENNESSEE DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT(TLOD). WIOA PROVIDED AUTHORIZING LEGISLATION FOR OVEERSIGHTAND ADMINISTRATION OF PUBLIC EMPLOYMENT AND TRAINING PROGRAMS DELIVERED THROUGH STATEWIDE SYSTEMS. THIS IS PRIMARILY ASSISTANCE TO THOSE MARGINILIZED POPULATIONS UPSKILL, EDUCATE AND EMPOWER FOR EMPLOYMENT, AND IMPROVEMENT IN EMPLOYMENT. WMS ALSO WORKS WITH EMPLOYERS TO IDENTIFY SKILLS THEY NEED TO KNOW NOW AND IN THE FUTURE. AS PRESENTED IN ITS TENNESSEE REGISTRATION, WMS SHALL BE FUNDED AND EQUIPPED TO SERVE THE FOUR COUNTY AREAS ON WEST TN, NAMELY SHELBY COUNTY, FAYETTE COUNTY, TIPTON COUNTY AND LAUDERDALE COUNTY - AS A NONPROFIT CORPORATION, WMS ALSO UTILIZES OTHER FUNDS TO SUPPORT OTHER INITIATIVES THAT ARE OUTSIDE THE SCOPE AND RESTRICTIONS OF WIOA ACTIVITIES. THESE INITIATIVES ARE COMPLENTARY TO AND SUPPORT THE OBJECTIVES OF WIOA AND THE REGIONAL NEEDS OF THE LOCAL COMMUNITIES. THE ORGANIZATION ALSO WORKS TOGETHER WITH KEY STAKEHOLDERS SUCH AS POLICY MAKERS, LOCAL BUSINESSES, AND EDUCATION ENTITIES ETC. TO BETTER UNDERSTAND THE WORKFORCE NEEDS, TO IDENTIFY SOLUTIONS TO WORKFORCE PROBLEMS AND STRATEGICALLY WORK TO MEET THOSE NEEDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyla Guyette President | Officer | 40 | $130,066 |
Lee Harris Director | Trustee | 1 | $0 |
Rhea Taylor Director | Trustee | 1 | $0 |
Maurice Gaines Director | Trustee | 1 | $0 |
Jeff Huffman Director | Trustee | 1 | $0 |
James Robinson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $13,057,955 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $123,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,181,588 |
| 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 | $13,181,588 |
| 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 | $3,953,518 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $160,702 |
| Payroll taxes | $1,363,175 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $711,972 |
| Travel | $37,632 |
| 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 | -$1 |
| Insurance | $0 |
| All other expenses | $1,463,088 |
| Total functional expenses | $13,104,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,483 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,609,672 |
| 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 | $8,076 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,578 |
| Total assets | $3,846,809 |
| Accounts payable and accrued expenses | $3,662,256 |
| Grants payable | $0 |
| Deferred revenue | $32,028 |
| 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 | $3,694,284 |
| Net assets without donor restrictions | $152,525 |
| 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 | $3,846,809 |