Eastern Connecticut Workforce Investment Board Inc
Eastern Connecticut Workforce Investment Board: Strong Program Spending, Modest Reserves
EIN: 222595913 · Franklin, CT · NTEE: J20 · Updated: 2026-04-04
Is Eastern Connecticut Workforce Investment Board Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Eastern Connecticut Workforce Investment Board Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Eastern Connecticut Workforce Investment Board Inc
Eastern Connecticut Workforce Investment Board Inc (EIN: 222595913) is a nonprofit organization based in Franklin, CT, classified under NTEE code J20. The organization reported total revenue of $16.4M and total assets of $3.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Eastern Connecticut Workforce Investment Board Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Eastern Connecticut Workforce Investment Board Inc is a large nonprofit that has been operating for 41 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $17.1M |
| Total Expenses | $16.9M |
| Surplus / Deficit | +$211K |
| Total Assets | $3.0M |
| Total Liabilities | $2.0M |
| Net Assets | $1.0M |
| Operating Margin | 1.2% |
| Debt-to-Asset Ratio | 65.6% |
| Months of Reserves | 2.1 months |
Financial Health Grade: B
In 2024, Eastern Connecticut Workforce Investment Board Inc reported a surplus of $211K with revenue exceeding expenses, holds 2.1 months of operating reserves (limited), has a debt-to-asset ratio of 65.6% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Eastern Connecticut Workforce Investment Board Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +21.0% | +18.1% | +50.8% |
| 2023 | +28.2% | +27.1% | -10.5% |
| 2022 | +7.1% | +10.6% | +2.3% |
| 2021 | +15.7% | +16.2% | +3.0% |
| 2020 | -3.2% | -2.7% | +11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Eastern Connecticut Workforce Investment Board Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Eastern Connecticut Workforce Investment Board Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $211K, with revenue exceeding expenses.
- Debt-to-asset ratio: 65.6%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided high-level financial data, making a specific assessment difficult without further filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Eastern Connecticut Workforce Investment Board Inc's IRS 990 filings:
- The organization's liabilities have increased significantly from $1,166,041 in 2023 to $1,964,675 in 2024, warranting further investigation into the nature of these liabilities.
Strengths
The following positive indicators were identified for Eastern Connecticut Workforce Investment Board Inc:
- Consistently high program spending, with 85% of expenses dedicated to programs in the most recent filing.
- Strong revenue growth from $14,145,000 in 2023 to $17,114,768 in 2024, indicating increasing support and activity.
- Healthy asset growth from $1,987,104 in 2023 to $2,996,999 in 2024, improving financial stability.
- Consistent operational efficiency with expenses closely tracking revenue over multiple years.
Frequently Asked Questions about Eastern Connecticut Workforce Investment Board Inc
Is Eastern Connecticut Workforce Investment Board Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Eastern Connecticut Workforce Investment Board Inc (EIN: 222595913) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Eastern Connecticut Workforce Investment Board Inc spend its money?
Eastern Connecticut Workforce Investment Board Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Eastern Connecticut Workforce Investment Board Inc tax-deductible?
Eastern Connecticut Workforce Investment Board Inc is registered as a tax-exempt nonprofit (EIN: 222595913). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Eastern Connecticut Workforce Investment Board Inc do?
Eastern Connecticut Workforce Investment Board Inc is a nonprofit organization in the Employment sector, located in Franklin, Connecticut. It is classified under NTEE code J20.
How much revenue does Eastern Connecticut Workforce Investment Board Inc have?
Eastern Connecticut Workforce Investment Board Inc reported total revenue of $16,365,607. Based on 14 IRS 990 filings on record.
What are Eastern Connecticut Workforce Investment Board Inc's total assets?
Eastern Connecticut Workforce Investment Board Inc holds total assets of $3,515,030 as reported in IRS 990 filings.
Where is Eastern Connecticut Workforce Investment Board Inc located?
Eastern Connecticut Workforce Investment Board Inc is based in Franklin, Connecticut.
What is Eastern Connecticut Workforce Investment Board Inc's EIN?
Eastern Connecticut Workforce Investment Board Inc's Employer Identification Number (EIN) is 222595913. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Eastern Connecticut Workforce Investment Board Inc?
Eastern Connecticut Workforce Investment Board Inc is classified under NTEE code J20 (Employment).
Is Eastern Connecticut Workforce Investment Board Inc a registered 501(c)(3)?
Yes, Eastern Connecticut Workforce Investment Board Inc is recognized as a tax-exempt organization by the IRS. EIN: 222595913.
Does Eastern Connecticut Workforce Investment Board Inc file IRS Form 990?
Yes, Eastern Connecticut Workforce Investment Board Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Eastern Connecticut Workforce Investment Board Inc's revenue in 2024?
In the 202406 filing period, Eastern Connecticut Workforce Investment Board Inc reported total revenue of $17,114,768, total expenses of $16,903,507, and net assets of $2,996,999.
Is Eastern Connecticut Workforce Investment Board Inc's revenue growing or declining?
Eastern Connecticut Workforce Investment Board Inc's revenue is growing. Revenue went from $14,145,000 (202306) to $17,114,768 (202406), a +21.0% change. Based on 14 filings on record.
What is Eastern Connecticut Workforce Investment Board Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Eastern Connecticut Workforce Investment Board Inc covers tax period 202406. It shows revenue of $17,114,768, expenses of $16,903,507, total assets of $2,996,999, and liabilities of $1,964,675.
How much does Eastern Connecticut Workforce Investment Board Inc spend on programs vs administration?
Based on IRS 990 analysis, Eastern Connecticut Workforce Investment Board Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Eastern Connecticut Workforce Investment Board Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Eastern Connecticut Workforce Investment Board Inc appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 4 strengths noted.
What are the red flags for Eastern Connecticut Workforce Investment Board Inc?
The following concerns were identified: The organization's liabilities have increased significantly from $1,166,041 in 2023 to $1,964,675 in 2024, warranting further investigation into the nature of these liabilities.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Eastern Connecticut Workforce Investment Board Inc's strengths?
Positive indicators for Eastern Connecticut Workforce Investment Board Inc include: Consistently high program spending, with 85% of expenses dedicated to programs in the most recent filing.. Strong revenue growth from $14,145,000 in 2023 to $17,114,768 in 2024, indicating increasing support and activity.. Healthy asset growth from $1,987,104 in 2023 to $2,996,999 in 2024, improving financial stability.. Consistent operational efficiency with expenses closely tracking revenue over multiple years.. These findings are derived from AI analysis of the organization's financial filings.
How does Eastern Connecticut Workforce Investment Board Inc compensate executives?
Executive compensation is not explicitly detailed in the provided high-level financial data, making a specific assessment difficult without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial increase in revenue and assets, what specific strategic initiatives or program expansions contributed to this growth in the 2024 fiscal year?
The provided data shows a significant jump in revenue from $14.1M to $17.1M and assets from $1.9M to $2.9M between 2023 and 2024. This suggests successful grant acquisition or expansion of workforce development programs, but specific initiatives would require deeper analysis of their annual reports or program descriptions.
Filing History
IRS 990 filing history for Eastern Connecticut Workforce Investment Board Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Eastern Connecticut Workforce Investment Board Inc's revenue has grown by 86.3%, moving from $9.2M to $17.1M. Total assets increased by 69.5% over the same period, from $1.8M to $3.0M. Total functional expenses rose by 84.1%, from $9.2M to $16.9M. In its most recent filing year (2024), Eastern Connecticut Workforce Investment Board Inc reported a surplus of $211K, with revenue exceeding expenses. The organization holds $2.0M in liabilities against $3.0M in assets (debt-to-asset ratio: 65.6%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $17.1M | $16.9M | $3.0M | $2.0M | — | View 990 |
| 2023 | $14.1M | $14.3M | $2.0M | $1.2M | — | View 990 |
| 2022 | $11.0M | $11.3M | $2.2M | $1.2M | — | View 990 |
| 2021 | $10.3M | $10.2M | $2.2M | $958K | — | View 990 |
| 2020 | $8.9M | $8.8M | $2.1M | $1.0M | — | View 990 |
| 2019 | $9.2M | $9.0M | $1.9M | $945K | — | View 990 |
| 2018 | $9.7M | $9.5M | $1.9M | $1.1M | — | View 990 |
| 2017 | $9.8M | $9.7M | $1.6M | $1.0M | — | View 990 |
| 2016 | $8.4M | $8.3M | $1.5M | $1.1M | — | View 990 |
| 2015 | $8.0M | $8.0M | $1.2M | $796K | — | View 990 |
| 2014 | $7.9M | $7.9M | $1.2M | $888K | — | View 990 |
| 2013 | $7.3M | $7.3M | $1.0M | $764K | — | View 990 |
| 2012 | $7.7M | $7.7M | $972K | $782K | — | View 990 |
| 2011 | $9.2M | $9.2M | $1.8M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $17.1M, expenses of $16.9M, and assets of $3.0M (revenue +21.0% year-over-year).
- 2023: Revenue of $14.1M, expenses of $14.3M, and assets of $2.0M (revenue +28.2% year-over-year).
- 2022: Revenue of $11.0M, expenses of $11.3M, and assets of $2.2M (revenue +7.1% year-over-year).
- 2021: Revenue of $10.3M, expenses of $10.2M, and assets of $2.2M (revenue +15.7% year-over-year).
- 2020: Revenue of $8.9M, expenses of $8.8M, and assets of $2.1M (revenue -3.2% year-over-year).
- 2019: Revenue of $9.2M, expenses of $9.0M, and assets of $1.9M (revenue -5.0% year-over-year).
- 2018: Revenue of $9.7M, expenses of $9.5M, and assets of $1.9M (revenue -1.7% year-over-year).
- 2017: Revenue of $9.8M, expenses of $9.7M, and assets of $1.6M (revenue +17.3% year-over-year).
- 2016: Revenue of $8.4M, expenses of $8.3M, and assets of $1.5M (revenue +4.4% year-over-year).
- 2015: Revenue of $8.0M, expenses of $8.0M, and assets of $1.2M (revenue +1.3% year-over-year).
- 2014: Revenue of $7.9M, expenses of $7.9M, and assets of $1.2M (revenue +8.5% year-over-year).
- 2013: Revenue of $7.3M, expenses of $7.3M, and assets of $1.0M (revenue -4.9% year-over-year).
- 2012: Revenue of $7.7M, expenses of $7.7M, and assets of $972K (revenue -16.3% year-over-year).
- 2011: Revenue of $9.2M, expenses of $9.2M, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Eastern Connecticut Workforce Investment Board Inc:
Data Sources and Methodology
This transparency report for Eastern Connecticut Workforce Investment Board Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.