Is Workforce Development Board Of Herkimer Madison And Oneida Counti Legit?

The Workforce Development Board Of Herkimer Madison And Oneida Counti demonstrates consistent financial activity, with revenues and expenses generally in close alignment over the past decade. For instance, in 2023, expenses of $4,575,884 slightly exceeded revenues of $4,516,700, indicating a tight operational budget. The organization's assets have shown a steady increase, growing from $983,580 in 2015 to $2,329,177 in 2023, suggesting prudent financial management and accumulation of resources. Liabilities have also increased but remain well-covered by assets, with a liability-to-asset ratio of approximately 0.40 in 2023 ($930,756 liabilities / $2,329,177 assets). Spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings, which is a significant positive indicator for program focus. While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the absence of officer compensation suggests a high proportion of funds are directed towards the mission. The organization's consistent filing history and growth in assets point to a stable and well-managed entity. Transparency is high due to the readily available and consistent IRS 990 filings, which show no red flags regarding executive pay.