Better Business Bureau Report for
Valley Initiative for Development and Advancement

Better Business Bureau Report issued January 2012
Better Business Bureau Report expires January 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Valley Initiative for Development and Advancement
Address: 1715 East Pike Blvd.
  Weslaco, TX 78596
Phone:
Web Address: http://www.vidacareers.org/
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Better Business Bureau Comments

Year, State Incorporated:
Affiliates: None
Stated Purpose: VIDA’s mission is to formulate new institutional relationships in the Rio Grande Valley that simultaneously address employers’ needs for skilled workers and link the area’s unemployed and underemployed with high skilled, high wage jobs identified in the region. The program provides job-training services to economically disadvantaged, unemployed, and underemployed adults with family responsibilities.

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Evaluation Conclusions

               

Valley Initiative for Development and Advancement (VIDA) meets the 20 Standards for Charity Accountability.
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Programs

               

VIDA helps low-income, unemployed and underemployed Valley residents get the skills they need to secure high-skilled, high-wage jobs. In 209-10, VIDA served 701 valley residents.

For the fiscal year ended September 30, 2010, VIDA's program expenses were:

  
Total: 2,767,443
Total Program Expenses: $2,767,443
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Governance

               

Chief Executive : Myra Caridad Garcia, Executive Director
Compensation*:
 $122,173

Chair of the Board: David Handley
Chair's Profession / Business Affiliation: Chief Executive Officer, Valley Regional Medical Center

Board Size: 10

Paid Staff Size: 20

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

grant proposals, raffle
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $2,955,473, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on VIDA's audited financial statements for the fiscal year ended September 30, 2010.

Source of Funds  
Grants 2,804,026
Donations and other 151,447
Total Income $2,955,473


chart



Uses of Funds as a % of Total Expenses

Programs: 95%  Fund Raising: 1%  Administrative: 4% 

Total income   $2,955,473
  Program expenses $2,767,443
  Fund raising expenses 17,290
  Administrative expenses 126,462
 
Total expenses   $2,911,195
Income in Excess of Expenses   44,278
Beginning net assets   58,980
Ending net assets   103,258
Total liabilities   569,564
Total assets   $672,822


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Complaints

               

The BBB has processed no complaints about this organization in the past 36 months, our standard reporting period.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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