Workforce Mid-South Inc

EIN: 850869795 501(c)(3) Human Services

Memphis, TN

Total Revenue
$12,705,550
Total Expenses
$13,180,592
Total Assets
$2,157,973
Net Assets
$-328,575
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
TN
Principal Officer
Kyla Guyette
Phone
9017078800
Tax Period
2022-07-01 to 2023-06-30

Workforce Mid-South Inc, founded in 2020, is a mid-sized nonprofit in the Human Services sector that reported $12.7M in total revenue in fiscal year 2022.

Mission

Implementation of the workforce innovation & Oportunity Act (WIOA) of 2014. This is a Federal Government funded Act that is channeld through the State of TN Department of Labor & Workforce Development.

Program Service Accomplishments

Program 1
Expenses: $12,018,023 Revenue: $12,705,550

Workforce Mid-South, Inc. (WMS ) is a nonprofit corporation-domestic organzation. Its's primary role is for the implementation of the Workforce Innovation and Opportunity Act (WIOA) of 2014. This is...

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Workforce Mid-South, Inc. (WMS ) is a nonprofit corporation-domestic organzation. Its's primary role is for the implementation of the Workforce Innovation and Opportunity Act (WIOA) of 2014. This is a Federal Government funded Act that is channeled through the State of Tennessee Department of Labor and Workforce Development(TLoD). WIOA provided authorizing legislation for Labor and Workforce Development (TLoD). WIOA provided authorizing legislation for oversight and administration of public employment and training programs delivered through statewide systems. These are primarily assistance to those marginalized populations to upskill retain educate and empower for employment, and improvement in employment. WMS also works with employers to identify skills they need now and in the future. It then works at matching unemloyed to employers. This is done through key programs for Adult, Youth and Dislocated population. WMS partners with other initiatives such as TANF,SNAP, Justice involved etc. to create a comprehensive One Stop System that addresses the needs of those in challenged circumstances. . As presented in its Tennessee registration, WMS shall be funded and equipped to serve the four county areas on West TN, namely Shelby County, Fayette County, Tipton County and Lauderdale County - As a nonprofit corporation, WMS also utilizes other funds to support other initiatives that are outside the scope and restrictions of WIOA activities. These initiatives are complentary to and support the objectives of WIOA and the regional needs of the local communities. The organization also works together with key stakeholders such as policy makers, local businesses, and education entities etc. to better understand the workforce needs, to identify solutions to workforce problems and strategically work to meet those needs.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $12,705,550
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $12,705,550

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,211,701
Fundraising Expenses $22,598
Program Expenses $12,018,023
Other Expenses $11,968,891
TOTAL EXPENSES $13,180,592

Year-over-Year Comparison

2022 2021 Change
Revenue $12,705,550 $13,181,588 0.0%
Expenses $13,180,592 $13,104,304 +0.0%
Net Income $-475,042 $77,284 -7.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
29
Independent Members
29
Employees
30
Volunteers
10

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
0
$0
Total Directors
9
$0
Key Employees
1
$13,066
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kyla Guyette President 40.00
Key Emp
$13,066 $0 $13,066
Lee Harris Director 1.00
Director
$0 $0 $0
Rhea Taylor Director 1.00
Director
$0 $0 $0
Maurice Gaines Director 1.00
Director
$0 $0 $0
Jeff Huffman Director 1.00
Director
$0 $0 $0
James Robinson Director 1.00
Director
$0 $0 $0
Quennetta Stanford Director 1.00
Director
$0 $0 $0
Melanie Connell Sprenkle Director 1.00
Director
$0 $0 $0
Mark Herbison Director 1.00
Director
$0 $0 $0
Emily Land Director 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
2023 $12,705,550 $13,180,592 $2,157,973 $-475,042
2022 $13,181,588 $13,104,304 $3,846,809 $77,284
2021 $10,480,556 $10,405,303 $2,245,492 $75,253
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