Chipola Regional Workforce Development Board Inc
Nonprofit profile at a glance
- EIN
- 593384516
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Marianna, FL, USA
- Phone
- 8506334417
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Parent/Teacher Group
Reported finances
- Revenue
- $1,725,217
- Expenses
- $1,651,241
- Assets
- $1,237,366
- Liabilities
- $640,656
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- RICHARD WILLIAMS (EXECUTIVE DIRECTOR)
Highest reported compensation
- RICHARD WILLIAMS (EXECUTIVE DIRECTOR): $142,623 total reported compensation
- SARA JOHNSON (FINANCE DIRECTOR): $109,340 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide for the involvement of the business community, including small businesses, minority business enterprises, labor and community based organizations in the employment and training activities of the workforce innovation and opportunity act; to increase employment opportunities for economically disadvantaged persons; and to serve as the business and industry contact point in the local employment and training system by presenting the private sector's views and recommendations for making programs more responsive to local employment needs.
What it reported doing in 2024
The board is responsible for administering the workforce innovation and opportunity act program with the purpose of preparing youth and unskilled or displaced adults for entry into the labor force in five counties in north Florida.
Operating model
- Revenue model
- Grant-funded. 97% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
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: 76
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.4%; rating input score 84
- Program expense ratio: 88%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd 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: 4.3%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 0.75; rating input score 34; 34th percentile among comparable filings
- Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 15.3%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 0.8% per year; rating input score 100; 21st percentile among comparable filings
- Revenue growth: 0.1% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 84.4% of revenue deployed · 88% of spending went to programs
- Governance: 21 of 21 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.5M in reported program spending
- Leadership: top reported pay $143K · 23 people listed
- Highest-paid contractors: 2 contractors listed · $224K reported
- Consistency: 30 of 30 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Sustainability: Operating margin scored 48/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 15/100.
- High — Sustainability: Officer compensation ratio scored 22/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.