Southwest Virginia Workforce Development Board
EIN: 542010445 · Lebanon, VA · NTEE: J20
Is Southwest Virginia Workforce Development Board Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Southwest Virginia Workforce Development Board
Southwest Virginia Workforce Development Board (EIN: 542010445) is a nonprofit organization based in Lebanon, VA, classified under NTEE code J20. The organization reported total revenue of $2.4M and total assets of $568K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southwest Virginia Workforce Development Board's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southwest Virginia Workforce Development Board is a mid-size nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-50,824 |
| Total Assets | $283K |
| Total Liabilities | $81K |
| Net Assets | $203K |
| Operating Margin | -1.9% |
| Debt-to-Asset Ratio | 28.5% |
| Months of Reserves | 1.2 months |
Financial Health Grade: C
In 2023, Southwest Virginia Workforce Development Board reported a deficit of $51K with expenses exceeding revenue, holds 1.2 months of operating reserves (limited), has a debt-to-asset ratio of 28.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2010–2023), Southwest Virginia Workforce Development Board's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.5% | +6.6% | -23.6% |
| 2022 | -19.8% | -18.9% | +97.3% |
| 2021 | +25.4% | +24.1% | +83.9% |
| 2020 | +5.9% | +9.7% | -33.9% |
| 2019 | -3.7% | -11.7% | -52.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Southwest Virginia Workforce Development Board has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Southwest Virginia Workforce Development Board with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $51K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.5%.
Frequently Asked Questions about Southwest Virginia Workforce Development Board
Is Southwest Virginia Workforce Development Board a legitimate charity?
Based on AI analysis of IRS 990 filings, Southwest Virginia Workforce Development Board (EIN: 542010445) insufficient data. 0 red flags identified, 0 strengths noted.
How does Southwest Virginia Workforce Development Board spend its money?
Detailed spending breakdown data is not yet available for Southwest Virginia Workforce Development Board. Check back for updated IRS 990 analysis.
Are donations to Southwest Virginia Workforce Development Board tax-deductible?
Southwest Virginia Workforce Development Board is registered as a tax-exempt nonprofit (EIN: 542010445). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Southwest Virginia Workforce Development Board showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Southwest Virginia Workforce Development Board's revenue has grown by 45.7%, moving from $1.9M to $2.7M. Total assets decreased by 61.1% over the same period, from $728K to $283K. Total functional expenses rose by 47.8%, from $1.9M to $2.8M. In its most recent filing year (2023), Southwest Virginia Workforce Development Board reported a deficit of $51K, with expenses exceeding revenue. The organization holds $81K in liabilities against $283K in assets (debt-to-asset ratio: 28.5%), resulting in net assets of $203K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.8M | $283K | $81K | — | — |
| 2022 | $2.6M | $2.6M | $371K | $118K | — | View 990 |
| 2021 | $3.2M | $3.2M | $188K | $125K | — | — |
| 2020 | $2.6M | $2.6M | $102K | $73K | — | — |
| 2019 | $2.4M | $2.4M | $155K | $96K | — | View 990 |
| 2018 | $2.5M | $2.7M | $328K | $532K | — | View 990 |
| 2017 | $2.6M | $2.6M | $299K | $350K | — | View 990 |
| 2016 | $2.1M | $2.1M | $293K | $324K | — | View 990 |
| 2015 | $2.0M | $1.9M | $339K | $241K | — | View 990 |
| 2014 | $1.8M | $1.8M | $556K | $376K | — | View 990 |
| 2013 | $2.2M | $2.0M | $443K | $263K | — | View 990 |
| 2011 | $2.1M | $2.1M | $297K | $287K | — | View 990 |
| 2010 | $1.9M | $1.9M | $728K | $606K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.8M, and assets of $283K (revenue +5.5% year-over-year).
- 2022: Revenue of $2.6M, expenses of $2.6M, and assets of $371K (revenue -19.8% year-over-year).
- 2021: Revenue of $3.2M, expenses of $3.2M, and assets of $188K (revenue +25.4% year-over-year).
- 2020: Revenue of $2.6M, expenses of $2.6M, and assets of $102K (revenue +5.9% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.4M, and assets of $155K (revenue -3.7% year-over-year).
- 2018: Revenue of $2.5M, expenses of $2.7M, and assets of $328K (revenue -3.6% year-over-year).
- 2017: Revenue of $2.6M, expenses of $2.6M, and assets of $299K (revenue +23.8% year-over-year).
- 2016: Revenue of $2.1M, expenses of $2.1M, and assets of $293K (revenue +7.2% year-over-year).
- 2015: Revenue of $2.0M, expenses of $1.9M, and assets of $339K (revenue +11.5% year-over-year).
- 2014: Revenue of $1.8M, expenses of $1.8M, and assets of $556K (revenue -19.4% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.0M, and assets of $443K (revenue +4.1% year-over-year).
- 2011: Revenue of $2.1M, expenses of $2.1M, and assets of $297K (revenue +12.5% year-over-year).
- 2010: Revenue of $1.9M, expenses of $1.9M, and assets of $728K.
Data Sources and Methodology
This transparency report for Southwest Virginia Workforce Development Board 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.