Brevard Workforce Development Board Inc

Nonprofit profile at a glance

EIN
593031785
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Rockledge, FL, USA
Phone
3213940790
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Sheltered Employment

Official website

Reported finances

Revenue
$16,507,655
Expenses
$16,517,667
Assets
$5,113,783
Liabilities
$4,307,027

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

34 people listed

Executive titles in this filing

  • MARCI MURPHY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARCI MURPHY (EXECUTIVE DIRECTOR): $219,591 total reported compensation
  • YVONNE KOBRIN (CFO): $134,471 total reported compensation
  • JEFFREY WITT (VP OF IT AND FACILITIES): $125,042 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Csbfv shall facilitate and be the catalyst for workforce development activities that are responsive to the employment and training needs of businesses and job seekers.

What it reported doing in 2024

The reemployment services and eligibility assessment (resea) program is designed to address the reemployment needs of reemployment assistance (ra) claimants. Individuals filing ra claims may be selected to participate in the state's resea program. Participants are made aware of, and referred to, a variety of reemployment services

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.1%; rating input score 92
  • Program expense ratio: 92%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 92.1% of revenue deployed · 92% of spending went to programs
  • Governance: 28 of 28 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $15.2M in reported program spending
  • Leadership: top reported pay $220K · 34 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.