WORKFORCE DEVELOPMENT INSTITUTE INC (EIN 562420045) - 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

2003

Legal Domicile

Principal Officer

AMY DESJARDINS

Phone

5184632141

Tax Period

2024-07-01 to 2025-06-30

WORKFORCE DEVELOPMENT INSTITUTE INC, founded in 2003, is a mid-sized nonprofit in the Education sector that reported $16.4M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

WORKFORCE DEVELOPMENT INSTITUTE ("WDI") IS A STATEWIDE ORGANIZATION THAT WORKS FOR ALL NEW YORKERS TO SUCCEED IN THE WORKFORCE WHILE EARNING FAMILY SUSTAINING WAGES. THROUGH PROGRAMS IN EDUCATION AND TRAINING, ECONOMIC DEVELOPMENT, AND WORKFORCE SUPPORT, WDI FILLS GAPS NOT COVERED BY OTHER ORGANIZATIONS WITH THE GOAL OF IMPROVING THE LIVES OF WORKERS AND STRENGTHING NEW YORK'S WORKFORCE.

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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 $14,821,285

Program Service Revenue $1,514,256

Investment Income $2,448

Other Revenue $24,666

TOTAL REVENUE $16,362,655

Expense Breakdown

Grants Paid $4,604,204

Salaries & Benefits $4,426,623

Fundraising Expenses $0

Program Expenses $13,898,016

Other Expenses $6,929,613

TOTAL EXPENSES $15,960,440

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,362,655	$14,076,337	+0.2%
Expenses	$15,960,440	$13,775,806	+0.2%
Net Income	$402,215	$300,531	+0.3%

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

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

$411,787

Total Directors

$203,718

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY DESJARDINS	EXECUTIVE DIRECTOR	35.00	Officer Director	$191,101	$12,617	$203,718
ALLISON BASHKOFF	CHIEF FINANCIAL OFFICER	35.00	Officer	$180,166	$27,903	$208,069
DANIEL W CULLEN	DIRECTOR FIELD OFFICER	35.00	Highest	$148,081	$23,733	$171,814
ROBYN FELLRATH	REGIONAL DIRECTOR	35.00	Highest	$120,242	$35,594	$155,836
LISA E FUTTERMAN	REGIONAL DIRECTOR	35.00	Highest	$127,763	$18,406	$146,169
ELLIOT CRESSWELL	DIRECTOR OF RESEARCH	35.00	Highest	$126,059	$17,887	$143,946
CYNTHIA M THOMAS-O'DELL	DIRECTOR	35.00	Highest	$119,179	$17,726	$136,905
JENN DUCK	SECRETARY	1.00	Officer Director	$0	$0	$0
DANIEL MCGRAW	TREASURER	1.00	Officer Director	$0	$0	$0
SAMANTHA DERISO	BOARD MEMBER - THRU 05/25	1.00	Director	$0	$0	$0
JOE LAPAGLIA	BOARD MEMBER - EFF 6/25	1.00	Director	$0	$0	$0
NIKKI KATEMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
SANTOS RODRIGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
ERNIE HARTMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG LANCETTE	BOARD MEMBER	1.00	Director	$0	$0	$0
ALITHIA RODRIGUEZ - ROLON	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVE WASIURA	BOARD MEMBER	1.00	Director	$0	$0	$0
AL CATALANO	CHAIR	1.00	Officer Director	$0	$0	$0
RICHARD DAVIS	BOARD MEMBER - THRU 12/24	1.00	Director	$0	$0	$0
CARMINE D'AMATO	BUSINESS MANAGER - EFF 1/25	1.00	Director	$0	$0	$0
NAGMA SINGH	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	$16,362,655	$15,960,440	$4,421,493	$402,215
2024	$14,076,337	$13,775,806	$4,234,829	$300,531
2023	$11,476,077	$11,230,902	$4,183,907	$245,175
2022	$10,204,057	$9,241,416	$2,796,326	$962,641
2021	$6,706,234	$7,145,037	$2,357,250	$-438,803
2020	$8,110,006	$8,107,867	$2,716,890	$2,139
2019	$9,025,925	$9,035,572	$2,752,871	$-9,647
2018	$8,387,904	$8,397,210	$2,774,986	$-9,306

WORKFORCE DEVELOPMENT INSTITUTE INC