Workforce Development Board Of Herkimer Madison And Oneida Counti
Workforce Development Board maintains stable finances with no reported officer compensation.
EIN: 161140488 · Utica, NY · NTEE: J20Z · Updated: 2026-03-28
Is Workforce Development Board Of Herkimer Madison And Oneida Counti Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Workforce Development Board Of Herkimer Madison And Oneida Counti directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Workforce Development Board Of Herkimer Madison And Oneida Counti
Workforce Development Board Of Herkimer Madison And Oneida Counti (EIN: 161140488) is a nonprofit organization based in Utica, NY, classified under NTEE code J20Z. The organization reported total revenue of $5.7M and total assets of $3.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Workforce Development Board Of Herkimer Madison And Oneida Counti's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Workforce Development Board Of Herkimer Madison And Oneida Counti with a Mission Score of 95 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Workforce Development Board Of Herkimer Madison And Oneida Counti allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is exceptional for an organization with revenues consistently in the multi-million dollar range, indicating a strong commitment to directing funds towards its mission rather than executive salaries.
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.
Strengths
The following positive indicators were identified for Workforce Development Board Of Herkimer Madison And Oneida Counti:
- Consistent 0% officer compensation reported across all filings, indicating high program focus.
- Steady growth in assets from $983,580 in 2015 to $2,329,177 in 2023, demonstrating financial stability.
- Long and consistent IRS 990 filing history (13 filings), indicating strong transparency and compliance.
- Liabilities are well-managed and covered by assets, with a healthy liability-to-asset ratio.
- Revenues and expenses are generally in close alignment, suggesting efficient budget management.
Frequently Asked Questions about Workforce Development Board Of Herkimer Madison And Oneida Counti
Is Workforce Development Board Of Herkimer Madison And Oneida Counti a legitimate charity?
Based on AI analysis of IRS 990 filings, Workforce Development Board Of Herkimer Madison And Oneida Counti (EIN: 161140488) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Workforce Development Board Of Herkimer Madison And Oneida Counti spend its money?
Workforce Development Board Of Herkimer Madison And Oneida Counti directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Workforce Development Board Of Herkimer Madison And Oneida Counti tax-deductible?
Workforce Development Board Of Herkimer Madison And Oneida Counti is registered as a tax-exempt nonprofit (EIN: 161140488). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Workforce Development Board Of Herkimer Madison And Oneida Counti a good charity?
Based on the provided data, the organization appears to be a very good charity. It consistently reports 0% officer compensation, indicating a strong focus on its mission, and maintains stable financial health with growing assets.
How has the organization's financial health changed over time?
The organization's financial health has generally improved, with assets growing from $983,580 in 2015 to $2,329,177 in 2023, while liabilities have remained manageable relative to assets.
What is the trend in revenue and expenses?
Revenue and expenses have fluctuated but generally track closely, with revenues ranging from $2.7 million to over $5 million annually. In most years, expenses are slightly below or very close to revenue, indicating sound operational management.
Filing History
IRS 990 filing history for Workforce Development Board Of Herkimer Madison And Oneida Counti showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Workforce Development Board Of Herkimer Madison And Oneida Counti's revenue has grown by 24.5%, moving from $3.6M to $4.5M. Total assets increased by 193.6% over the same period, from $793K to $2.3M. Total functional expenses rose by 35.5%, from $3.4M to $4.6M. In its most recent filing year (2023), Workforce Development Board Of Herkimer Madison And Oneida Counti reported a deficit of $59K, with expenses exceeding revenue. The organization holds $931K in liabilities against $2.3M in assets (debt-to-asset ratio: 40.0%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $4.5M | $4.6M | $2.3M | $931K | — | View 990 |
| 2022 | $5.1M | $4.8M | $2.1M | $676K | — | View 990 |
| 2021 | $3.1M | $2.8M | $1.9M | $654K | — | View 990 |
| 2020 | $3.4M | $3.5M | $1.4M | $473K | — | View 990 |
| 2019 | $5.1M | $5.0M | $1.6M | $548K | — | View 990 |
| 2018 | $5.1M | $5.0M | $1.6M | $621K | — | View 990 |
| 2017 | $4.3M | $4.2M | $1.4M | $510K | — | View 990 |
| 2016 | $3.2M | $3.1M | $1.1M | $331K | — | View 990 |
| 2015 | $2.7M | $2.8M | $984K | $279K | — | View 990 |
| 2014 | $3.1M | $3.1M | $1.2M | $420K | — | View 990 |
| 2013 | $3.6M | $3.5M | $1.0M | $344K | — | View 990 |
| 2012 | $4.0M | $3.8M | $1.1M | $440K | — | View 990 |
| 2011 | $3.6M | $3.4M | $793K | $379K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.5M, expenses of $4.6M, and assets of $2.3M (revenue -11.4% year-over-year).
- 2022: Revenue of $5.1M, expenses of $4.8M, and assets of $2.1M (revenue +63.8% year-over-year).
- 2021: Revenue of $3.1M, expenses of $2.8M, and assets of $1.9M (revenue -7.2% year-over-year).
- 2020: Revenue of $3.4M, expenses of $3.5M, and assets of $1.4M (revenue -34.7% year-over-year).
- 2019: Revenue of $5.1M, expenses of $5.0M, and assets of $1.6M (revenue +0.7% year-over-year).
- 2018: Revenue of $5.1M, expenses of $5.0M, and assets of $1.6M (revenue +18.3% year-over-year).
- 2017: Revenue of $4.3M, expenses of $4.2M, and assets of $1.4M (revenue +35.7% year-over-year).
- 2016: Revenue of $3.2M, expenses of $3.1M, and assets of $1.1M (revenue +16.0% year-over-year).
- 2015: Revenue of $2.7M, expenses of $2.8M, and assets of $984K (revenue -11.7% year-over-year).
- 2014: Revenue of $3.1M, expenses of $3.1M, and assets of $1.2M (revenue -13.1% year-over-year).
- 2013: Revenue of $3.6M, expenses of $3.5M, and assets of $1.0M (revenue -11.3% year-over-year).
- 2012: Revenue of $4.0M, expenses of $3.8M, and assets of $1.1M (revenue +10.9% year-over-year).
- 2011: Revenue of $3.6M, expenses of $3.4M, and assets of $793K.
Data Sources and Methodology
This transparency report for Workforce Development Board Of Herkimer Madison And Oneida Counti 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.