Newark Workforce Development Board Inc (EIN 223784963) - 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

2002

Legal Domicile

Phone

9737334897

Tax Period

2023-07-01 to 2024-06-30

Newark Workforce Development Board Inc, founded in 2002, is a community nonprofit in the Youth Development sector that reported $1.8M in total revenue in fiscal year 2023. Revenue surged 99% from the prior year, signaling strong growth momentum. Expenses of $1.7M left a modest 7% surplus.

Mission

To lead amd empoer the Newark Workforce system by leveraging assets amd resources to ensore the educational and professional and economic success of Newark residents and the prosperity of its businesses. Provides oversight of workforce Investment Act funds and Newark One Stop Center

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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 $1,823,100

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,823,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $247,617

Fundraising Expenses $0

Program Expenses $1,384,056

Other Expenses $1,445,551

TOTAL EXPENSES $1,693,168

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,823,100	$917,684	+1.0%
Expenses	$1,693,168	$560,866	+2.0%
Net Income	$129,932	$356,818	-0.6%

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

N/A

Employees

Volunteers

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

$127,678

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Karen Gaylord	Executive Direcor	40.00	Officer	$127,678	$0	$127,678
Nathaly Agosto Fillion	Board Member	1.00	Director	$0	$0	$0
Latoya Ball	Board Member	1.00	Director	$0	$0	$0
Glenn Best	Board Member	1.00	Director	$0	$0	$0
Sybil Bost	Board Memeber	1.00	Director	$0	$0	$0
Earl Brown	Board Member	1.00	Director	$0	$0	$0
Caucci Sam	Board Member	1.00	Director	$0	$0	$0
Vesta Godwin Clark	Interim Chairperson	4.00	Director	$0	$0	$0
Rick Archer	Board Member	1.00	Director	$0	$0	$0
DrBorgaonker Ashish	Board Member	1.00	Director	$0	$0	$0
Chosolm Michael	Board Member	1.00	Director	$0	$0	$0
Mitra Choudhury	Board Member	1.00	Director	$0	$0	$0
Clark Robert	Board Member	1.00	Director	$0	$0	$0
Dunns Shanell	Board Member	1.00	Director	$0	$0	$0
Joseph Epps Jr	Board Member	1.00	Director	$0	$0	$0
Danny Denise Gonzalez	Secretary/ Board Member	1.00	Director	$0	$0	$0
Michele Gonzalez	Board Member	1.00	Director	$0	$0	$0
Chip Hallock	Board Member	1.00	Director	$0	$0	$0
Dexter Hendricks	Board Member	1.00	Director	$0	$0	$0
Marland Jenkins	Board Member	1.00	Director	$0	$0	$0
Ralonda Johnson	Board Treasurer	4.00	Director	$0	$0	$0
Jonathan Kobza	Board Member	1.00	Director	$0	$0	$0
Helen kogan	Board Member	1.00	Director	$0	$0	$0
Rocco Lepore	Board Member	1.00	Director	$0	$0	$0
Emily Manz	Board Member	1.00	Director	$0	$0	$0
Morris Murray	Board Member	1.00	Director	$0	$0	$0
Krystal Peatree-Mclean	Board Member	1.00	Director	$0	$0	$0
Edna Rashid	Board Member	1.00	Director	$0	$0	$0
Mauren Ritchie	Board Member	1.00	Director	$0	$0	$0
Alex Rivera	Board Member	1.00	Director	$0	$0	$0
Safanya Searcy	Board Member	1.00	Officer Director	$0	$0	$0
Anthony Smith	Board Member	1.00	Director	$0	$0	$0
Bhavama Tailor	Board Member	1.00	Director	$0	$0	$0
Bilal Walker	Board Member	1.00	Director	$0	$0	$0
Evan Weis	Board Member	1.00	Director	$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	$1,823,100	$1,579,799	$1,311,118	$243,301
2024	$1,823,100	$1,693,168	$1,234,920	$129,932
2023	$1,605,734	$1,423,755	$938,854	$181,979
2022	$1,242,041	$916,192	$1,193,412	$325,849
2022	$1,376,921	$1,062,958	$1,186,912	$313,963
2021	$917,687	$560,866	$788,360	$356,821
2020	$521,521	$438,861	$413,042	$82,660
2019	$533,554	$559,782	$334,341	$-26,228
2018	$594,729	$543,728	$376,240	$51,001

Newark Workforce Development Board Inc