Gulf Coast Workforce Development Board Inc

Nonprofit profile at a glance

EIN
593455773
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Panama City, FL, USA
Phone
8509133285
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$2,821,079
Expenses
$3,070,271
Assets
$3,217,500
Liabilities
$2,548,538

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

Leadership & pay

20 people listed

Executive titles in this filing

  • KIMBERLY BODINE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIMBERLY BODINE (EXECUTIVE DIRECTOR): $169,648 total reported compensation
  • JANINE DEXTER (FINANCE DIRECTOR): $94,302 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 customized employment and training solutions that facilitate economic prosperity in partnership with education, economic development, chambers of commerce, community-based organizations, local governments and businesses.

What it reported doing in 2024

Careersource gulf coast provides a wide variety of resources and services at no- costs: one-on-one career guidance, resume assistance, job referrals, workshops, and training program scholarships.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - 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: 79
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 24
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.7%; rating input score 92
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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; 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.8%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 91.7% of revenue deployed · 84.2% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $170K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.