Suncoast Workforce Board Inc

Nonprofit profile at a glance

EIN
592334811
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Sarasota, FL, USA
Phone
9413584200
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$7,367,204
Expenses
$7,437,729
Assets
$1,618,517
Liabilities
$812,302

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

Leadership & pay

36 people listed

Executive titles in this filing

  • JOSHUA MATLOCK (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • JOSHUA MATLOCK (CHIEF EXECUTIVE OFFICER): $171,153 total reported compensation
  • ROBIN DAWSON (CHIEF FINANCIAL & ADMINISTRATIVE OFFICER): $152,970 total reported compensation
  • KATHLEEN BOUCHARD (CHIEF TALENT OFFICER): $139,067 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 organization's mission is to identify and invest in workforce development solutions to meet the needs of manatee and sarasota counties.

What it reported doing in 2024

Employment service programs - these programs include wagner peyser and veterans services. Wagner peyser programs are designed to improve the functioning of the nation's labor market by bringing together individuals who are seeking employment with the employers who are seeking workers. The program includes recruitment, referrals, assessments and coaching, job fairs, and a mobile career opportunity which offers the same services to areas outside of local transportation areas. Veterans programs are used to provide job development, placement and support services for disabled and other veterans and to provide outreach to veterans through community agencies and organizations. Total persons served during the year under these programs was 6,977 (6,456 in the wagner peyser program and 521 in the veterans program). One hundred, fifty-one (151) persons were placed in employment (118 in the wagner peyser program and 33 in the veterans program).

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 68% for direct work, and 32% 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: 81
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 21
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 91.5%; rating input score 91
  • 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: 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: -1%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 11.4%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 92.4% of revenue deployed · 91.5% of spending went to programs
  • Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $6.8M in reported program spending
  • Leadership: top reported pay $171K · 36 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $734K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.