The Greater Louisville Workforce Development Board Inc

Nonprofit profile at a glance

EIN
464856936
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5025743145
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$21,626,387
Expenses
$23,113,027
Assets
$12,504,216
Liabilities
$13,200,410

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

Leadership & pay

35 people listed

Executive titles in this filing

  • MICHAEL GRITTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MICHAEL GRITTON (EXECUTIVE DIRECTOR): $146,783 total reported compensation
  • TERA WEST (DEPUTY DIRECTOR): $121,275 total reported compensation
  • DANA MOORER (CFO): $104,910 total reported compensation

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

Overview

Mission

Engaging employers, educators, and job seekers with resources to build a stronger community through the dignity of work.

What it reported doing in 2024

Provided workforce development, educational assistance and other related programs for the region.

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 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some related-organization disclosures are missing and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 86
  • Accountability: 91
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.5%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -6.9%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 8.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 18.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.5% of spending went to programs
  • Governance: 32 of 32 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $22.1M in reported program spending
  • Leadership: top reported pay $147K · 35 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.