Eastern Carolina Workforce Development Board Inc

Nonprofit profile at a glance

EIN
561762333
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New Bern, NC, USA
Phone
2526366901
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,929,739
Expenses
$3,936,207
Assets
$468,956
Liabilities
$456,522

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

Leadership & pay

30 people listed

Highest reported compensation

  • BILL GREEN (EXEC DIRECTOR): $93,351 total reported compensation
  • PHILLIP PRESCOTT (ASST DIRECTOR): $70,434 total reported compensation

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

Overview

Mission

Our mission is to ensure that our workforce development system is customer focused, demand-driven, and accountable for preparing our current and future workforce to meet the changing needs of a highly-competitive global economy.

What it reported doing in 2024

The wioa youth program served 239 participants throughout the nine county region. The us department of labor established four performance standards to determine overall program effectiveness and ecwdb met all standards. The youth program targets young people who are ages 14 through 24, are low income, and may need help to complete an educational program or find and hold employment. Youth programs provide a wide variety of services that help low-income young people succeed in school and work. Program participants may receive services such as occupational skills training, counseling, interships, work experience and job placements, mentoring, tutoring, leadership development and supportive services. Strategies are developed for each person based on results in assessments of academics, skill levels and support service needs. Strategies may include summer employment, study skills training, or instruction in obtaining a ged or equivalent. The program goal is to enhance youth education, encourage school completion through alternative educational programs and provide exposure to the world of work through apprenticeships and career exploration.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 92%; rating input score 92
  • 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: Limited
  • 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: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 92% of spending went to programs
  • Governance: 28 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.6M in reported program spending
  • Leadership: top reported pay $93K · 30 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.