Workforce Development Corporation EIN 13-3632018

Workforce Development Corporation

EIN  13-3632018 Public charity (501(c)(3)) New York, NY Founded 1991
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/22/26 · see original filing: IRS
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Size
$10–100M
What they do
Creates a skilled workforce and promotes job creation in New York City by providing industrial and construction career training programs for local workers.
Leadership
Brandan Collins · Executive Director Ttp · $156K
Money in and out
$11.6M revenue, $11.4M expenses
Bottom line
100% program efficiency

Creates a skilled workforce and promotes job creation in New York City by providing industrial and construction career training programs for local workers. For fiscal year 2024 it reported $11.6M in revenue, $11.4M in expenses, and $3.7M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$11.6M
Pt VIII · Ln 12
Total expenses
$11.4M
Pt IX · Ln 25
Net assets
$3.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $243K
Where spending went · Part IX cols B–D
Program services $1.00 Management & general $0.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
11.0mo
months of highly liquid reserves at operating expense rate▲ +244% vs prior filing year
Surplus margin
+2%
revenue over expenses, this year▲ +135% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$11.6M
FY2024▲ +18%
Expenses
$11.4M
FY2024▲ +9%
Total assets
$16.9M
FY2024▲ +101%
Total liabilities
$13.2M
FY2024▲ +167%
Total revenue
$11.6M
Pt VIII · Ln 12
Total expenses
$11.4M
Pt IX · Ln 25
Net assets
$3.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$243K
Total assetsPt X · Ln 16$16.9M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 41
Mission & Programs · Part III

Where the work happens

3 program services account for $9.9M of program spending, described in the organization's own filed words · FY2024.
01

Workforce Training Programs

Workforce training programs include Employer-based training, Food and Beverage Industry partnership, Sector based training, Cannabis OJT, Media and Entertainment training, Manufacturing Industry Partnership, and Tech Industry partnerships - Through major funding source from EDC, the Organization helped connect New Yorkers to sector-based…

$6.3Mprogram expense
02

Business Services

WDC collaborated with an organization to conduct a comprehensive national landscape study and analysis. This study aimed to provide insights to guide New York Citys strategy in fostering equitable development within the emerging legal cannabis industry.

$2.2Mprogram expense
03

Internship/Apprenticeship

Develop and implement new registered apprenticeships.

$1.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWorkforce Development Corporation
EINHdr · item D13-3632018
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.workforcedevelopment.com
Year of formationHdr · item L1991
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99)
Ruling yearIRS BMFSep 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b1
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director Ttp
$155,596Pt VII · Sec A
Managing Dir Strategic Initiatives
$145,223Pt VII · Sec A
Executive Director
$141,657Pt VII · Sec A
Senior Product Researcher
$140,037Pt VII · Sec A
Uxui Designer
$124,477Pt VII · Sec A
Director Construction
$113,764Pt VII · Sec A
Senior Advisor
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Brandan Collins’s $156K as Executive Director Ttp is at the 18th percentile of top reported officer pay among 3682 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2020
Brandan Collins$155,596
Webster Ross$149,019
Priscilla Kwak$145,223
Chenelle Dennis$141,657$139,050$92,305
Jelynne Morse$140,037
Lauren Andersen$127,299
Jaylene Rubio$124,477
Trey Reid$113,764

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$11.3M · 97%
Investment income$304K · 3%
Contributions & grants97%$11.3M
Investment income3%$304K
Other revenue$841
— government grantsLn 1e$11.1M
Total revenueLn 12$11.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00 Management & general $0.00
Program services100%$11.4M
Management & general$11K
Total functional expensesLn 25$11.4M

Balance Sheet

Part X · end of year
CashLn 1$10.4M
Total assetsLn 16$16.9M
Total liabilitiesLn 26$13.2M
Total net assetsLn 32$3.7M
Months of cash on handcomputed11.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $10.4M · Operating expenses/yr $11.4M
11.0 months
Where the money goes
Program services
Program services $11.4M · Total expenses $11.4M
100%
Management & General
Management & general $11K · Total expenses $11.4M
0%
Fundraising
Fundraising $0 · Total expenses $11.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $132K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $11.3M · Total revenue $11.6M
97%
Government reliance
Government grants $11.1M · Total revenue $11.6M
95%
Earned-income share
Program service revenue $0 · Total revenue $11.6M
0%
Investment reliance
Investment income $304K · Total revenue $11.6M
+3%
Program self-sufficiency
Program service revenue $0 · Total expenses $11.4M
0%
Growth & trend
Revenue growth (YoY)
This year $11.6M · Prior year $9.9M
+18%
Revenue CAGR
FY2019 $32.3M · FY2024 $11.6M
-18%
Net-asset trend (YoY)
End of year $3.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $11.6M · Expenses $11.4M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $16.9M
Net-asset ratio
Net assets $3.7M · Total assets $16.9M
22%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $16.9M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brandan Collins · Reported title Executive Director TTP · Highest reported compensation $156K · Total expenses $11.4M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $4.3M · Total expenses $11.4M
38%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Revenue growth 18%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$950K
Grants paid · 318 grants · $32.9M · 2019–2024
Codesmith LLCFY2024$1,263,521
Hot Bread Kitchen LtdNY · FY2024$853,365
Soulful Synergy LLCFY2024$462,400
Staten Island Makerspace INCNY · FY2024$375,679
Vizient INCFY2024$336,777
Union Settlement AssocNY · FY2024$333,838
Leap INCNY · FY2024$324,517
The Forum for Urban Design INCNY · FY2024$250,000
Uptown Grand Central CorpNY · FY2024$231,144
Empowered Hospitality LLCFY2024$149,088
Helping Hands Licensed Behavior AnaFY2024$92,897
Urbane Development Group LtdFY2024$87,250
Jsd Holdings INC DBA Salon 718FY2024$64,060
The New SchoolNY · FY2024$60,000
Per Scholas INCNY · FY2024$45,000
See all 318 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$9.9M revenue · ⤓ 990 PDF
FY2023$7.0M revenue · ⤓ 990 PDF
FY2022$9.3M revenue · ⤓ 990 PDF
FY2021$12.6M revenue · ⤓ 990 PDF
FY2020$32.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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