West Piedmont Workforce Investment… - 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

2000

Legal Domicile

Principal Officer

Adam Wright

Phone

2766566190

Tax Period

2024-07-01 to 2025-06-30

West Piedmont Workforce Investment Board, founded in 2000, is a community nonprofit in the Community Improvement sector that reported $3.3M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

The West Piedmont Workforce Investment Board is a nonprofit organization established in Virginia as a means to direct federal workforce training funds to designated service areas. The Board serves independent cities of Martinsville and Danville and the counties of Henry, Patrick, and Pittsylvania.

Program Service Accomplishments

Program 1

Expenses: $3,094,459 Revenue: $477,505

To connect individuals with 21st century skills and talents to meet the needs of businesses

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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 $2,817,947

Program Service Revenue $0

Investment Income $5,779

Other Revenue $477,505

TOTAL REVENUE $3,301,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $411,371

Fundraising Expenses $0

Program Expenses $3,094,459

Other Expenses $2,854,989

TOTAL EXPENSES $3,266,360

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,301,231	$3,044,980	+0.1%
Expenses	$3,266,360	$3,038,462	+0.1%
Net Income	$34,871	$6,518	+4.3%

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

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

$106,891

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Freeland	Executive Director	40.00	Key Emp	$106,891	$0	$106,891
Adam Wright	Chairman	N/A	Officer Director	$0	$0	$0
Corrie Teague Bobe	Director	N/A	Director	$0	$0	$0
David Collins	Director	N/A	Director	$0	$0	$0
Debra Buchanan	Director	N/A	Director	$0	$0	$0
Blake Shumate	Director	N/A	Director	$0	$0	$0
Donna Higdon	Director	N/A	Director	$0	$0	$0
Jason Davis	Director	N/A	Director	$0	$0	$0
Jess Wade	Director	N/A	Director	$0	$0	$0
Jim Daniel	Director	N/A	Director	$0	$0	$0
John Moody	Director	N/A	Director	$0	$0	$0
John Parkinson	Secretary/Treasurer	N/A	Officer Director	$0	$0	$0
Julie Brown	Director	N/A	Director	$0	$0	$0
Mark Powers	Director	N/A	Director	$0	$0	$0
Marsha Mendenhall	Director	N/A	Director	$0	$0	$0
Rebecca Adcock	Director	N/A	Director	$0	$0	$0
Rhonda Hodges	Director	N/A	Director	$0	$0	$0
R J Weaver	Director	N/A	Director	$0	$0	$0
Lori Fox	Director	N/A	Director	$0	$0	$0
Shannon Hair	Vice Chairman	N/A	Officer Director	$0	$0	$0
Sharon Barksdale	Director	N/A	Director	$0	$0	$0
Stacey Wright	Director	N/A	Director	$0	$0	$0
Teresa Fontaine	Director	N/A	Director	$0	$0	$0
Tim Clark	Director	N/A	Director	$0	$0	$0
Tora Terry	Director	N/A	Director	$0	$0	$0
Mike Minter	Director	N/A	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	$3,301,231	$3,266,360	$1,954,310	$34,871
2024	$3,044,980	$3,038,462	$2,320,152	$6,518
2023	$2,852,568	$2,879,847	$2,359,510	$-27,279
2022	$2,434,707	$2,353,184	$883,374	$81,523
2021	$2,820,052	$2,777,599	$1,000,579	$42,453
2020	$1,817,126	$1,817,486	$1,048,766	$-360
2019	$2,235,083	$2,234,981	$711,530	$102

West Piedmont Workforce Investment Board