Institute for Workforce Development

Nonprofit profile at a glance

EIN
912140837
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Olympia, WA, USA
Phone
3609431600
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Reported finances

Revenue
$923,405
Expenses
$657,466
Assets
$1,436,023
Liabilities
$0

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

Leadership & pay

21 people listed

Highest reported compensation

  • KRISTOFER JOHNSON (SECRETARY-TREASURER): $865,888 total reported compensation

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

Overview

Mission

Providing the business community with tools and resources to build a strong workforce.

What it reported doing in 2024

The institute continued to work with the state's 34 community and technical colleges, acting as a liaison between the colleges and the state's business community. The institute conducted interviews, site visits and group discussions with educators and business executives in order to meet the state's need for highly trained and skilled workers, including fulfillment of training workers in the manufacturing cluster.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% 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

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.6%; rating input score 59
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28.8%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 2.18; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 24.6%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 58.6% of revenue deployed · 82.3% of spending went to programs
  • Governance: 17 of 18 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $541K in reported program spending
  • Leadership: top reported pay $866K · 21 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $120K reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 10/100.