WORKFORCE DEVELOPMENT BOARD OF FLA… - 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

MARCI MURPHY

Phone

3863237074

Tax Period

2023-07-01 to 2024-06-30

WORKFORCE DEVELOPMENT BOARD OF FLAGLER AND VOLUSIA COUNTIES INC, founded in 1996, is a community nonprofit that reported $7.5M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $8.3M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO BE THE PREMIER ORGANIZATION FOR EMPLOYMENT AND TRAINING SOLUTIONS TO THE BUSINESSES AND WORKFORCE OF VOLUSIA AND FLAGLER COUNTIES. OUR MISSION IS TO PROVIDE INNOVATIVE CUSTOMIZED EMPLOYMENT AND TRAINING SOLUTIONS TO SUPPORT ECONOMIC PROSPERITY IN COLLABORATION WITH ECONOMIC DEVELOPMENT, EDUCATION, CHAMBERS OF COMMERCE, COMMUNITY-BASED ORGANIZATIONS, LOCAL GOVERNMENTS AND ACTIVE BUSINESS PARTNERS.

Program Service Accomplishments

Program 1

Expenses: $4,004,366 Revenue: $104,549

WORKFORCE INNOVATION AND OPPORTUNITY ACT (ADULT, YOUTH AND DISLOCATED WORKER TRAINING PROGRAMS). ASSISTING THESE GROUPS IN FINDING EMPLOYMENT BY PREPARING WORKERS FOR ENTRY INTO THE LABOR FORCE...

WORKFORCE INNOVATION AND OPPORTUNITY ACT (ADULT, YOUTH AND DISLOCATED WORKER TRAINING PROGRAMS). ASSISTING THESE GROUPS IN FINDING EMPLOYMENT BY PREPARING WORKERS FOR ENTRY INTO THE LABOR FORCE AND/OR PROVIDING TRAINING TO INDIVIDUALS WHO FACE BARRIERS TO EMPLOYMENT.

Program 2

Expenses: $1,364,344

WELFARE TRANSITION PROGRAM - SERVICES PROVIDED INCLUDE TRAINING PROGRAMS, ASSISTANCE IN FINDING EMPLOYMENT, AND SKILLS ASSESSMENTS.

Program 3

Expenses: $941,601 Revenue: $58,038

EMPLOYMENT SERVICE THROUGH FLORIDA AGENCY FOR WORKFORCE INNOVATION (WAGNER PEYSER, DISABLED VETERANS, LOCAL VETERANS' EMPLOYMENT REPRESENTATIVES). SERVICES INCLUDE OCCUPATIONAL TRAINING, SKILLS...

EMPLOYMENT SERVICE THROUGH FLORIDA AGENCY FOR WORKFORCE INNOVATION (WAGNER PEYSER, DISABLED VETERANS, LOCAL VETERANS' EMPLOYMENT REPRESENTATIVES). SERVICES INCLUDE OCCUPATIONAL TRAINING, SKILLS ASSESSMENTS, RESOURCE ROOMS, ASSISTANCE FOR JOB SEEKERS, AND SUPPORT SERVICES.

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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 $7,347,415

Program Service Revenue $162,587

Investment Income $145

Other Revenue $0

TOTAL REVENUE $7,510,147

Expense Breakdown

Grants Paid $4,990,866

Salaries & Benefits $1,844,371

Fundraising Expenses $0

Program Expenses $7,510,963

Other Expenses $1,504,482

TOTAL EXPENSES $8,339,719

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,510,147	$9,743,244	-0.2%
Expenses	$8,339,719	$10,468,469	-0.2%
Net Income	$-829,572	$-725,225	+0.1%

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

N/A

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

$241,952

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY BRADLEY	DIRECTOR	5.00	Director	$0	$0	$0
DR AUBREY LONG	CHAIR	5.00	Officer Director	$0	$0	$0
BRET SCHMITZ	TREASURER	5.00	Officer Director	$0	$0	$0
ELIZABETH ALBERT	DIRECTOR	2.00	Director	$0	$0	$0
GREG BLOSE	DIRECTOR	2.00	Director	$0	$0	$0
DENISE BRENEMAN	DIRECTOR	2.00	Director	$0	$0	$0
BOB DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
COURTNEY EDGCOMB	DIRECTOR	2.00	Director	$0	$0	$0
DOLORES KEY	DIRECTOR	2.00	Director	$0	$0	$0
MARK LANHAM	DIRECTOR	2.00	Director	$0	$0	$0
DR TOM LOBASSO	DIRECTOR	2.00	Director	$0	$0	$0
MARY JO ALLEN	VICE CHAIR	5.00	Officer Director	$0	$0	$0
MATT NELSON	DIRECTOR	2.00	Director	$0	$0	$0
DONALD O'BRIEN	DIRECTOR	2.00	Director	$0	$0	$0
DR KENT SHARPLES	DIRECTOR	2.00	Director	$0	$0	$0
CARLOS VALDERRAMA	DIRECTOR	2.00	Director	$0	$0	$0
HELGA VAN ECKERT	DIRECTOR	2.00	Director	$0	$0	$0
TYRONE WALKER	SECRETARY	5.00	Officer Director	$0	$0	$0
JOHN WANAMAKER	DIRECTOR	2.00	Director	$0	$0	$0
ANGIE WHITE	DIRECTOR	2.00	Director	$0	$0	$0
CYRUS CALLUM	DIRECTOR	2.00	Director	$0	$0	$0
JAKE JOHANSSON	DIRECTOR	2.00	Director	$0	$0	$0
JOHN SUBERS	DIRECTOR	2.00	Director	$0	$0	$0
ROBIN R KING	PRESIDENT AND CEO	40.00	Officer	$142,587	$27,203	$169,790
DAN LAUX	CFO UNTIL 1/8/2024	40.00	Officer	$61,663	$10,499	$72,162
CHARLES HOWELL	VP BUSINESS DEV. AND TECHN	40.00	Highest	$103,080	$15,401	$118,481

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
2024	$7,510,147	$8,339,719	No data	$-829,572
2023	$9,743,244	$10,468,469	$2,108,527	$-725,225
2022	$8,211,477	$8,170,606	$2,463,348	$40,871
2021	$7,861,799	$7,909,309	$2,375,230	$-47,510
2020	$7,485,101	$7,546,056	$1,804,317	$-60,955
2019	$6,930,089	$6,898,067	$1,565,854	$32,022

WORKFORCE DEVELOPMENT BOARD OF FLAGLER AND VOLUSIA COUNTIES INC