Overview
What is Workforce Mid-South Inc?
Workforce Mid-South Inc, based in Memphis, Tennessee, is a nonprofit organization primarily focused on implementing the Workforce Innovation and Opportunity Act (WIOA) of 2014. Funded by the Federal Government and administered through the Tennessee Department of Labor and Workforce Development, its mission is to assist and empower marginalized populations by upskilling and educating them for employment. WMS serves the four western Tennessee counties of Shelby, Fayette, Tipton, and Lauderdale. As a complement to WIOA activities, the organization also utilizes additional funds for initiatives that support the act's objectives and address the needs of local communities. Through collaboration with stakeholders like policy makers, local businesses, and education entities, WMS strives to understand workforce requirements, find solutions to workforce issues, and meet these needs effectively.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Stars
Workforce Mid-South Inc has received a 67% rating from Charity Navigator, indicating some strengths in its governance and accountability practices, but also notable weaknesses in financial health. The organization scores highly in areas such as board independence and financial oversight, demonstrating a robust commitment to ethical standards and transparency.
However, the charity faces significant challenges regarding its financial ratios. With a liabilities to assets ratio exceeding 100%, and a negative working capital ratio, these indicators suggest potential financial instability. Additionally, their fundraising efficiency is extremely low, which raises concerns about the sustainability of their operations and impact.
While the high program expense ratio demonstrates a strong commitment to program spending, the overall financial challenges may limit their ability to effectively fulfill their mission in the long term. Stakeholders should consider these financial aspects when evaluating the organization's overall effectiveness and future prospects.
This AI summary has been generated from information found on Charity Navigator.
Is Workforce Mid-South Inc legitimate?
Workforce Mid-South Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Workforce Mid-South Inc 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,953,518
For more financial information, click here
What is the mission statement of Workforce Mid-South Inc?
Workforce Mid-South Inc is a non-profit organization dedicated to implementing the Workforce Innovation and Opportunity Act (WIOA) of 2014. This Federal Act is administered through the Tennessee Department of Labor and Workforce Development. The mission of Workforce Mid-South is to assist marginalized populations in upskilling, education, and empowerment for employment. They work with employers to identify current and future skills requirements and provide assistance to meet these needs. In addition to WIOA activities, the organization utilizes other funds for initiatives that support the objectives of WIOA and address the regional needs of local communities, working collaboratively with stakeholders including policy makers, businesses, and education entities.
Who is the CEO of Workforce Mid-South Inc?
Kyla Guyette is the President of Workforce Mid-South Inc.
What is the revenue of Workforce Mid-South Inc?
Workforce Mid-South Inc's revenue in 2022 was $13,181,588.
Who are the executives of Workforce Mid-South Inc and what are their salaries?
The average compensation at Workforce Mid-South Inc during 2022 was $131,784. There are 30 employees and 10 volunteers at Workforce Mid-South Inc.
Here are 10 key members and their salaries:
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Where can I find the form 990 for Workforce Mid-South Inc?
Workforce Mid-South Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Workforce Mid-South Inc
Workforce Mid-South Inc, a nonprofit organization, is dedicated to the implementation of the Workforce Innovation and Opportunity Act (WIOA) of 2014. This federal funding is funneled through the Tennessee Department of Labor and Workforce Development. The primary mission of Workforce Mid-South is to provide assistance and empower marginalized populations, enabling them to upskill and improve their employment opportunities.
The organization's role extends beyond the scope of WIOA activities as it also utilizes additional funds for complementary initiatives. These initiatives align with the objectives of WIOA and cater to the specific needs of local communities. Workforce Mid-South collaborates with key stakeholders, including policy makers, local businesses, and education entities, to identify workforce needs, find solutions to workforce issues, and strategically address these needs.
Workforce Mid-South's efforts are focused on the implementation of WIOA, which provides oversight and administration of public employment and training programs. The organization plays a crucial role in delivering these programs through statewide systems, with the ultimate goal of improving employment opportunities for individuals in need. By working with employers to identify current and future skill requirements, Workforce Mid-South strives to ensure that its initiatives remain responsive to the needs of the workforce and the regional economy.
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Impact
October, 2024
Workforce Mid-South Inc has a significant and positive impact on the communities it serves in West Tennessee, particularly in Shelby, Fayette, Tipton, and Lauderdale Counties. By implementing the Workforce Innovation and Opportunity Act (WIOA) of 2014, the organization focuses on empowering marginalized populations through education, skills training, and workforce development initiatives. This effort enhances employability and assists individuals in securing sustainable employment.
Additionally, Workforce Mid-South collaborates closely with local employers to identify current and future skills needed in the workforce, ensuring that training programs align with market demands. This proactive approach not only uplifts individuals but also supports local businesses in cultivating a skilled workforce that meets their needs.
The organization also engages with various stakeholders, including policymakers, educational institutions, and community organizations, to address workforce challenges strategically. Through this collaboration, Workforce Mid-South contributes to creating solutions that benefit both the local economy and the individuals within these communities, ultimately fostering a more robust and inclusive workforce. By aligning its initiatives with the objectives of WIOA, the organization effectively addresses the regional needs and enhances economic opportunities for all.
This information is meant to be a general summary of Workforce Mid-South Inc. 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: $13,181,588
Assets and Liabilities:
- Total Assets: $3,846,809
- Total Liabilities: $3,694,284
- Net Assets: $152,525
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Organization Details
Founding Year
2020
Phone
(901) 707-8800Principal Officer
Kyla Guyette
Main Address
40 S Main St, Memphis, TN, 38103
NTEE Category
Code: P20 - Human services
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