EASTERN CONNECTICUT WORKFORCE INVESTMENT BOARD INC (EIN 222595913) - Form 990 Financial Analysis & Trantor Score

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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

1984

Legal Domicile

Phone

8608594100

Tax Period

2024-07-01 to 2025-06-30

EASTERN CONNECTICUT WORKFORCE INVESTMENT BOARD INC, founded in 1984, is a mid-sized nonprofit in the Employment sector that reported $16.4M in total revenue in fiscal year 2024.

Mission

EWIB efficiently coordinates employment-related services in concert with a multitude of state and local agencies at benefit to both businesses and job-seekers. These services offer new opportunities and/or skills to the regional workforce, including those entering the workforce for the first time, the unemployed, the under-employed, those transitioning into new occupations, or those adding skills to remain competitive within their company or industry. EWIB also collaborates with regional business leaders to ensure these programs meet their needs in both good and bad economic times.

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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 (2024)

Revenue Breakdown

Contributions & Grants $16,329,831

Program Service Revenue $0

Investment Income $26,168

Other Revenue $9,608

TOTAL REVENUE $16,365,607

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,551,209

Fundraising Expenses $0

Program Expenses $15,727,051

Other Expenses $14,829,206

TOTAL EXPENSES $16,380,415

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,365,607	$17,114,768	0.0%
Expenses	$16,380,415	$16,903,507	0.0%
Net Income	$-14,808	$211,261	-1.1%

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

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
MICHAEL NOGELO	PRESIDENT/CEO	40.00		$183,409	$51,588	$234,997
JOHN BEAUREGARD	SPECIAL ADVISOR	40.00		$151,480	$48,546	$200,026
GUY SAPORITO	CHIEF FINANCIAL & ADMIN. OFFICER	40.00		$153,116	$43,575	$196,691
CAROL LABELLE	SENIOR DIRECTOR	40.00		$135,778	$49,683	$185,461
NEREIDA BRAASCH	Director	1.00	Director	$0	$0	$0
RAYMOND COOMBS JR	Director	1.00	Director	$0	$0	$0
DAVID JARVIS	Director	1.00	Director	$0	$0	$0
MARY ELLEN JUKOSKI	Director	1.00	Director	$0	$0	$0
LIZ LI	Director	1.00	Director	$0	$0	$0
ERIC PROTULIS	Director	1.00	Director	$0	$0	$0
JESSICA CORNEAU	Director	1.00	Director	$0	$0	$0
LINDA LADAS	Director	1.00	Director	$0	$0	$0
JESSICA VAN DER SWAAGH	Director	1.00	Director	$0	$0	$0
DANIEL MELLIO	Director	0.00	Director	$0	$0	$0
DANIEL MELLO	Director	1.00	Director	$0	$0	$0
GINGER FRASCA	Director	1.00	Director	$0	$0	$0
DINA SEARS-GRAVES	Director	1.00	Director	$0	$0	$0
COURTNEY MURPHY	Director	1.00	Director	$0	$0	$0
WILLIAM LOUIS	Director	1.00	Director	$0	$0	$0
NICOLE GALO	Director	1.00	Director	$0	$0	$0
SUSAN ADAMS	Director	1.00	Director	$0	$0	$0
SUSAN KOCABA	Director	1.00	Director	$0	$0	$0
DR ANDREW MCKILLOP	Director	1.00	Director	$0	$0	$0
CAPTAIN PAUL WHITESCARVER	Director	1.00	Director	$0	$0	$0
THAYNE D HUTCHINS JR	VICE CHAIRMAN	1.00	Officer	$0	$0	$0
CHRISTOPHER JEWELL	Chairman	1.00	Officer	$0	$0	$0
MICHAEL PHELPS	Treasurer	1.00	Officer	$0	$0	$0
CALEB ROSEME	Secretary	1.00	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	$16,365,607	$16,380,415	$3,515,030	$-14,808
2024	$17,114,768	$16,903,507	$2,996,999	$211,261
2023	$14,145,000	$14,311,741	$1,987,104	$-166,741
2022	$11,033,375	$11,259,563	$2,220,849	$-226,188
2021	$10,297,872	$10,179,273	$2,171,968	$118,599
2020	$8,904,329	$8,761,999	$2,107,821	$142,330
2019	$9,200,259	$9,004,881	$1,897,735	$195,378
2018	$9,679,889	$9,468,908	$1,903,366	$210,981

EASTERN CONNECTICUT WORKFORCE INVESTMENT BOARD INC