Lat Workforce Investment Board Inc

Nonprofit profile at a glance

EIN
721476016
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Houma, LA, USA
Phone
9855807249
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$1,617,924
Expenses
$1,634,753
Assets
$155,591
Liabilities
$146,054

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

Leadership & pay

22 people listed

Executive titles in this filing

  • FRANK LEWIS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • FRANK LEWIS (EXECUTIVE DIRECTOR): $96,435 total reported compensation

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

Overview

Mission

Workforce area #3 consists of lafourche, assumption, and terrebonne parishes governed by the lat workforce development board, inc. The mission of the workforce area #3 is to provide a comprehensive program which administers core, intensive, training and follow-up services as required by the workforce investment act (wia) to meet the needs of job seekers and employers. These services are to be rendered in a one-stop environment consisting of the necessary partners as required by wia. The intent is to provide a skilled and productive workforce to our area.

What it reported doing in 2024

Workforce investment act title i-b: youth - funds are distributed to subrecipients who provide services to increase the employability of economically disadvantaged youth through participation in classroom and on-the-job training, work experience, examplary youth, and other supportive service programs. In addition, employer outreach, job search and direct placement activities are conducted.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as 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: 72
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.4%; rating input score 81
  • Program expense ratio: 80.6%; rating input score 81
  • 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 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 81.4% of revenue deployed · 80.6% of spending went to programs
  • Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $96K · 22 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.