Southwest Florida Workforce Development Board Inc

Nonprofit profile at a glance

EIN
650778245
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Fort Myers, FL, USA
Phone
2392252500
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$12,400,588
Expenses
$12,335,556
Assets
$8,923,566
Liabilities
$8,651,789

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

Leadership & pay

24 people listed

Executive titles in this filing

  • PEG ELMORE (PRESIDENT/CEO)

Highest reported compensation

  • PEG ELMORE (PRESIDENT/CEO): $241,458 total reported compensation
  • MICHAEL EGAN (FINANCE DIRECTOR): $156,022 total reported compensation
  • ANDREA HOFFER (HR DIRECTOR): $110,695 total reported compensation

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

Overview

Mission

The purpose of the organization is to provide administration and oversight to organizations and and individuals who serve those seeking employment opportunities through job training, job placement, counseling and other assistance.

What it reported doing in 2024

Welfare transition - welfare transition programs are designed to emphasize work, self sufficiency, and personal responsibility for welfare recipients and to enable them to move from welfare to work.

Operating model

Revenue model
Grant-funded. 96% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 60% for direct work, and 40% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.6%; rating input score 89
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 99.7%; rating input score 100; 36th 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; 66th 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: 0.5%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.72; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 88.6% of revenue deployed · 89.1% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $11M in reported program spending
  • Leadership: top reported pay $241K · 24 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $113K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.