GREATER NEW BEDFORD WORKFORCE INVE… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

MICHAEL SANTOS

Phone

5089791504

Tax Period

2023-07-01 to 2024-06-30

GREATER NEW BEDFORD WORKFORCE INVESTMENT BOARD INC, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $5.7M in total revenue in fiscal year 2023.

Mission

MEET THE WORKFORCE NEEDS OF EMPLOYERS AND SUPPORT ECONOMIC DEVELOPMENT IN GREATER NEW BEDFORD.

Program Service Accomplishments

Program 1

Expenses: $5,686,807 Revenue: $5,700,799

MET THE NEEDS OF INDUSTRIES, BUSINESSES, AND WORKERS BY DRIVING WORKFORCE SOLUTIONS IN THE GREATER NEW BEDFORD REGION. PARTNERED WITH THE OPERATOR TO MANAGE THE CAREER CENTER TO ENSURE EXCELLENT...

MET THE NEEDS OF INDUSTRIES, BUSINESSES, AND WORKERS BY DRIVING WORKFORCE SOLUTIONS IN THE GREATER NEW BEDFORD REGION. PARTNERED WITH THE OPERATOR TO MANAGE THE CAREER CENTER TO ENSURE EXCELLENT CUSTOMER SERVICE WAS PROVIDED TO JOB SEEKERS AND EMPLOYERS IN THE REGION WITH A FOCUS ON CONTINUOUS IMPROVEMENT. CONTINUED TO CREATE A WORKFORCE SYSTEM THAT SUPPORTS STRONG REGIONAL ECONOMIES AND PLAYS AN ACTIVE ROLE IN COMMUNITY, ECONOMIC, AND WORKFORCE DEVELOPMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,623,568

Program Service Revenue $63,934

Investment Income $13,297

Other Revenue $0

TOTAL REVENUE $5,700,799

Expense Breakdown

Grants Paid $0

Salaries & Benefits $941,188

Fundraising Expenses $0

Program Expenses $5,686,807

Other Expenses $5,125,439

TOTAL EXPENSES $6,066,627

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,700,799	$5,548,783	+0.0%
Expenses	$6,066,627	$5,616,875	+0.1%
Net Income	$-365,828	$-68,092	+4.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NELSON ABREU	BOARD MEMBER	0.00	Director	$0	$0	$0
JOSE BAHENA	BOARD MEMBER	0.00	Director	$0	$0	$0
STEVEN A BEAUREGARD	BOARD MEMBER	0.00	Director	$0	$0	$0
JEAN BREAULT	BOARD MEMBER	0.00	Director	$0	$0	$0
DAVID A CABRAL	BOARD MEMBER	0.00	Director	$0	$0	$0
SARA CUNHA	BOARD MEMBER	0.00	Director	$0	$0	$0
HELENA DASILVA HUGHES	BOARD MEMBER	0.00	Director	$0	$0	$0
DR LAURA DOUGLAS	BOARD MEMBER	0.00	Director	$0	$0	$0
JOHN FERNANDES	BOARD MEMBER	0.00	Director	$0	$0	$0
SHANNON FINNING	BOARD MEMBER	0.00	Director	$0	$0	$0
JEFF GLASSMAN	BOARD MEMBER	0.00	Director	$0	$0	$0
MARGARITA GRAHAM	BOARD MEMBER	0.00	Director	$0	$0	$0
BERNICE JENSEN	BOARD MEMBER	0.00	Director	$0	$0	$0
HASKELL KENNEDY III	BOARD MEMBER	0.00	Director	$0	$0	$0
PAM KUECHLER	BOARD MEMBER	0.00	Director	$0	$0	$0
JANE MCARDLE	BOARD MEMBER	0.00	Director	$0	$0	$0
RON MELBOURNE	BOARD MEMBER	0.00	Director	$0	$0	$0
BONNIE MELLO	BOARD MEMBER	0.00	Director	$0	$0	$0
STEPHEN MERRILL	BOARD MEMBER	0.00	Director	$0	$0	$0
JENNIFER PATNAUDE	BOARD MEMBER	0.00	Director	$0	$0	$0
VICTOR PEREIRA	BOARD MEMBER	0.00	Director	$0	$0	$0
AARON POLANSKY	BOARD MEMBER	0.00	Director	$0	$0	$0
CHARLES QUINN	BOARD MEMBER	0.00	Director	$0	$0	$0
CHRISTOPHER REZENDES	BOARD MEMBER	0.00	Director	$0	$0	$0
DEREK SANTOS	BOARD MEMBER	0.00	Director	$0	$0	$0
WENDY SAVARY	BOARD MEMBER	0.00	Director	$0	$0	$0
TRACY SILVIA	BOARD MEMBER	0.00	Director	$0	$0	$0
MICHAEL TAVARES	BOARD MEMBER	0.00	Director	$0	$0	$0
YVONNE TOBEY	BOARD MEMBER	0.00	Director	$0	$0	$0
ED ANTHES-WASHBURN	BOARD MEMBER	0.00	Director	$0	$0	$0
MICHAEL WATSON	BOARD MEMBER	0.00	Director	$0	$0	$0
STEVEN WHITE	BOARD MEMBER	0.00	Director	$0	$0	$0
CORINN WILLIAMS	BOARD MEMBER	0.00	Director	$0	$0	$0
MICHAEL WILLIAMS	BOARD MEMBER	0.00	Director	$0	$0	$0
DAVID SLUTZ	CHAIR	40.00	Officer	$0	$0	$0
DUARTE SILVA	VICE CHAIR	0.00	Officer	$0	$0	$0
CARL TABOR	TREASURER	0.00	Officer	$0	$0	$0
JEFFREY PELLETIER	ASSISTANT TREASURER	0.00	Officer	$0	$0	$0
LISA LEMIEUX	SECRETARY	0.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$5,700,799	$6,066,627	$1,934,372	$-365,828
2023	$5,548,783	$5,616,875	$1,396,242	$-68,092
2022	$4,498,189	$4,446,625	$1,114,287	$51,564
2021	$3,887,016	$3,635,404	$1,194,439	$251,612
2020	$3,242,120	$3,216,964	$878,151	$25,156
2019	$3,223,933	$3,188,738	$1,030,367	$35,195

GREATER NEW BEDFORD WORKFORCE INVESTMENT BOARD INC