Workforce Development Board of Flagler and Volusia Counties Inc

Nonprofit profile at a glance

EIN
593391587
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Daytona Beach, FL, USA
Phone
3863237074
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$7,510,147
Expenses
$8,339,719
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • ROBIN R KING (PRESIDENT AND CEO)

Highest reported compensation

  • ROBIN R KING (PRESIDENT AND CEO): $169,790 total reported compensation
  • CHARLES HOWELL (VP BUSINESS DEV. AND TECHN): $118,481 total reported compensation
  • DAN LAUX (CFO UNTIL 1/8/2024): $72,162 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To be the premier organization for employment and training solutions to the businesses and workforce of volusia and flagler counties. Our mission is to provide innovative customized employment and training solutions to support economic prosperity in collaboration with economic development, education, chambers of commerce, community-based organizations, local governments and active business partners.

What it reported doing in 2023

Employment service through Florida agency for workforce innovation (wagner peyser, disabled veterans, local veterans' employment representatives). Services include occupational training, skills assessments, resource rooms, assistance for job seekers, and support services.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 79
  • Accountability: 42
  • Sustainability: 13
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: Limited
  • 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: -11%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.3%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.1% of spending went to programs
  • Governance: 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $7.5M in reported program spending
  • Leadership: top reported pay $170K · 26 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $371K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.