Overview
What is Newark Workforce Development Board?
The Newark Workforce Development Board is a nonprofit organization situated in Newark, New Jersey. Its primary mission is to identify the requirements of the local job market and utilize community assets to foster the educational, professional, and economic growth of Newark's residents and businesses. By collaborating with economic development organizations, the board aims to promote economic expansion and integrate publicly funded workforce services and job training programs into a cohesive, responsive, and accountable system tailored to both workers and businesses. The organization's vision includes creating a progressive and innovative workforce development system that effectively leverages community resources to ensure the success of Newark's businesses and residents. With a workforce of six individuals, the Newark Workforce Development Board plays a significant role in shaping Newark's workforce development landscape.
Official website here: www.nlwdb.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Newark Workforce Development Board has achieved an impressive Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. With a perfect score in several key areas, including independent board membership and financial oversight, the organization demonstrates a commitment to transparency and effective governance.
Financially, the Newark Workforce Development Board showcases a robust program expense ratio of 81.91%, indicating that a significant portion of its resources is allocated directly to its mission-driven programs. The low liabilities to assets ratio of 6.17% further underscores its financial stability and prudent management of resources, ensuring that funds are being utilized effectively to support workforce development initiatives.
While the organization excels in many metrics, potential areas for growth may involve expanding its program offerings or outreach efforts. However, the current data highlights a strong foundation built on accountability and sound financial practices, positioning the Newark Workforce Development Board as a reliable nonprofit dedicated to enhancing workforce opportunities in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Newark Workforce Development Board legitimate?
Newark Workforce Development Board is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newark Workforce Development Board 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: $277,834
For more financial information, click here
Official website here: www.nlwdb.org
What is the mission statement of Newark Workforce Development Board?
The Newark Workforce Development Board's mission is to establish a progressive and innovative workforce development system. This system effectively leverages community assets to ensure the success of businesses and residents. The board develops strategies, establishes policies, and provides direction and oversight for Workforce Innovation and Opportunity Act (WIOA) programs and services. The primary goal is to identify the needs of local job markets and utilize community resources to promote the educational, professional, and economic success of both residents and businesses. The board collaborates with economic development organizations to facilitate economic growth and integrate publicly funded workforce services and job training programs into a flexible, seamless, accountable, and responsive system that caters to the needs of both workers and businesses. It also oversees and monitors its responsibilities under the Workforce Investment Act and the WIOA.
Official website here: www.nlwdb.org
Who is the CEO of Newark Workforce Development Board?
Karen S Gaylord is the Board Member of Newark Workforce Development Board.
Official website here: www.nlwdb.org
What is the revenue of Newark Workforce Development Board?
Newark Workforce Development Board's revenue in 2022 was $1,242,041.
Official website here: www.nlwdb.org
Who are the executives of Newark Workforce Development Board and what are their salaries?
The average compensation at Newark Workforce Development Board during 2022 was $46,306. There are 6 employees at Newark Workforce Development Board.
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Official website here: www.nlwdb.org
Where can I find the form 990 for Newark Workforce Development Board?
Newark Workforce Development Board's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nlwdb.org
Learn more at the official website: www.nlwdb.org
Mission Statement of Newark Workforce Development Board
The Newark Workforce Development Board is dedicated to establishing a cutting-edge and forward-thinking workforce development system. This system leverages community resources to foster the success of both Newark businesses and residents. The organization plays a crucial role in strategizing, establishing policies, and providing guidance for programs and services under the Workforce Innovation and Opportunity Act (WIOA).
The Newark Workforce Development Board identifies the needs of local job markets and utilizes community assets to ensure the educational, professional, and economic prosperity of Newark's residents and businesses. The board collaborates with economic development organizations to promote economic growth and integrates publicly funded workforce services and job training programs into a cohesive system. This system is designed to be flexible, seamless, accountable, and responsive to the needs of both workers and businesses. The board also carries out oversight and monitoring responsibilities under the Workforce Investment Act and, more recently, the Workforce Innovation and Opportunity Act.
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Impact
October, 2024
The Newark Workforce Development Board plays a crucial role in shaping an effective workforce development system in Newark, New Jersey. By strategically identifying the needs of the local job market, the board leverages community assets to foster both the educational and economic success of residents and businesses alike.
Through its oversight of the Workforce Innovation and Opportunity Act (WIOA) programs, the board ensures that job training initiatives are not only accessible but also tailored to meet evolving workforce demands. This commitment to creating a flexible and responsive workforce system promotes economic growth and enhances the professional development opportunities available to residents.
By collaborating with economic development organizations, the board integrates workforce services and job training programs, ensuring a seamless experience for job seekers and employers. This approach not only supports local businesses by providing a skilled workforce but also empowers residents to achieve sustainable employment, ultimately contributing to the overall economic vitality of Newark. Youth development is a key focus, helping to guide the next generation toward promising career paths.
This information is meant to be a general summary of Newark Workforce Development Board. 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.
- Gross Receipts: $1,242,041
Assets and Liabilities:
- Total Assets: $1,193,412
- Total Liabilities: $142,068
- Net Assets: $1,051,344
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Organization Details
Founding Year
2002
Phone
(973) 733-5995Principal Officer
Karen S Gaylord
Main Address
990 BROAD STREET 2ND FLOOR, NEWARK, NJ, 07102
Website
www.nlwdb.orgNTEE Category
Code: O02 - Youth development
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