Overview
What is Workforce Development Corporation?
Workforce Development Corporation is a nonprofit organization situated in New York City, specifically at One Liberty Plaza STE 11th F, New York, NY 10006. Their primary mission is to foster workforce development and stimulate job creation by designing targeted activities aimed at cultivating a skilled workforce within the City of New York. They accomplish this through various training programs, such as Employer-based training, Food and Beverage Industry partnership, Sector-based training, Jamaica Now Action Plan, Media and Entertainment training, Manufacturing Industry Partnership, and Tech Industry partnerships. By leveraging significant funding from EDC, they connect New Yorkers to sector-specific occupational skills training and internship opportunities, ultimately leading to full-time employment. Additionally, the organization assists businesses in enhancing their competitiveness by offering skills training for their employees, resulting in higher wages and transferrable skills for the workers.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Workforce Development Corporation has received a two-star rating from Charity Navigator, indicating a need for improvement with a score of 71%. The organization shows strengths in its financial oversight, as evidenced by a perfect score on its audit and oversight committee and no material diversion of assets. Additionally, its program expense ratio is notably high at 99.58%, suggesting that the majority of its expenditures are directed towards its programs.
Despite these strengths, the organization struggles with governance, as only 37% of its board members are independent. Furthermore, there are critical areas where the organization is lacking, such as the absence of its website on its tax form and the failure to post tax documents on its website. These shortcomings affect their overall accountability and transparency scores.
Overall, while the Workforce Development Corporation demonstrates a strong commitment to its programming, improvements in board independence and online transparency are necessary to enhance its standing and trust with donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Workforce Development Corporation legitimate?
Workforce Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Workforce Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $1,922,553
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What is the mission statement of Workforce Development Corporation?
The Workforce Development Corporation is dedicated to promoting workforce development and job creation. They accomplish this by designing specific activities aimed at cultivating a skilled workforce. Their mission is to equip individuals with necessary skills, ultimately leading to employment opportunities. Through partnerships with various sectors such as food and beverage, manufacturing, and tech industries, they offer training programs and internships, ultimately connecting participants to full-time jobs. Additionally, the organization assists businesses in enhancing their competitiveness by offering skills training for their employees, thereby increasing wages and transferable skills for the workforce.
Who is the CEO of Workforce Development Corporation?
Jackie Mallon is the Executive Director of Workforce Development Corporation.
What is the revenue of Workforce Development Corporation?
Workforce Development Corporation's revenue in 2022 was $9,301,383.
Who are the executives of Workforce Development Corporation and what are their salaries?
The average compensation at Workforce Development Corporation during 2022 was $48,064. There are 40 employees at Workforce Development Corporation.
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Where can I find the form 990 for Workforce Development Corporation?
Workforce Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Workforce Development Corporation
The Workforce Development Corporation, a notable organization, is committed to fostering workforce development and job creation in New York City. Their mission is accomplished through various activities meticulously designed to cultivate a skilled workforce within the city. By implementing initiatives such as employer-based training, sector-based training, and industry partnerships with sectors like food and beverage, manufacturing, tech, and media and entertainment, the organization aims to bridge the gap between job seekers and potential employment opportunities. Their efforts also extend to helping businesses enhance their competitiveness by providing skills training for their employees, thereby leading to higher wages and transferable skills for the workers. In essence, the Workforce Development Corporation serves as a catalyst for fostering a skilled workforce and promoting job creation in New York City.
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Impact
October, 2024
Workforce Development Corporation significantly enhances the job market in New York City by creating pathways to skilled employment for its residents. Through various tailored workforce training programs, such as employer-based training, partnerships in key sectors like food and beverage, media, manufacturing, and technology, the organization effectively bridges the gap between job seekers and employers.
By aligning training with the specific needs of industries, Workforce Development Corporation not only empowers individuals with essential skills but also directly contributes to their economic mobility. Participants gain access to sector-based occupational skills training and internship opportunities, which lead to full-time job placements. This model not only uplifts the workforce but also strengthens local businesses by providing them with a trained and competent workforce, enhancing their competitiveness in the marketplace.
In addition, the initiative yields tangible outcomes, such as increased wages and the development of transferrable skills for workers, thereby fostering a more robust economic environment in New York. By focusing on strategic partnerships and targeted training initiatives, Workforce Development Corporation plays a crucial role in promoting job creation and workforce development throughout the city.
This information is meant to be a general summary of Workforce Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,100
- Gross Receipts: $9,301,383
Assets and Liabilities:
- Total Assets: $11,524,641
- Total Liabilities: $7,053,673
- Net Assets: $4,470,968
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Organization Details
Founding Year
1991
Principal Officer
Jackie Mallon
Main Address
One Liberty Plaza STE 11th F, New York, NY, 10006
NTEE Category
Code: B99 - Education
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