Civic Intelligence

Work2Future Foundation

990 • Fiscal year 2016 • EIN 45-3156415

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 15, 2017

Organization ProfileWWW.WORK2FUTUREFOUNDATION.ORG
1601 Foxworthy AveSan Jose, CA 95118

(408) 794-1100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.38x

Higher debt load relative to assets than 74% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

41st percentile

0.07x

Higher debt load relative to revenue than 41% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

62nd percentile

6.6%

Higher net margin than 62% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

79th percentile

$130,974

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

96th percentile

111%

Faster asset growth than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

86th percentile

38%

Faster revenue growth than 86% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$855,642

Up $450,013 (+111%) from 2015

Net Assets

Up

$526,920

Up $325,413 (+161%) from 2015

Liabilities

Up

$328,722

Up $124,600 (+61%) from 2015

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin62nd percentile

Revenue

Up

$4,918,130

Up $1,364,484 (+38%) from 2015

Expenses

Up

$4,592,717

Up $1,219,607 (+36%) from 2015

Net Income

Up

$325,413

Up $144,877 (+80%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2014: $121,193Liabilities 2014: $100,222Net Assets 2014: $20,9712014Assets 2015: $405,629Liabilities 2015: $204,122Net Assets 2015: $201,5072015Assets 2016: $855,642Liabilities 2016: $328,722Net Assets 2016: $526,9202016Assets 2017: $1,004,298Liabilities 2017: $400,124Net Assets 2017: $604,1742017Assets 2018: $1,245,100Liabilities 2018: $475,265Net Assets 2018: $769,8352018Assets 2019: $566,037Liabilities 2019: $399,577Net Assets 2019: $166,4602019Assets 2020: $323,291Liabilities 2020: $76,836Net Assets 2020: $246,4552020Assets 2021: $187,898Liabilities 2021: $16,560Net Assets 2021: $171,3382021Assets 2022: $254,693Liabilities 2022: $93,432Net Assets 2022: $161,2612022Assets 2023: $149,028Liabilities 2023: $8,532Net Assets 2023: $140,4962023Assets 2024: $97,724Liabilities 2024: $8,024Net Assets 2024: $89,7002024

Highlighted filing

2016

Assets$855,642
Liabilities$328,722
Net Assets$526,920
Open 2016 Filing

Operations Trend

Revenue Growth86th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $623,643Expenses 2014: $643,230Net Income 2014: -$19,5872014Revenue 2015: $3,553,646Expenses 2015: $3,373,110Net Income 2015: $180,5362015Revenue 2016: $4,918,130Expenses 2016: $4,592,717Net Income 2016: $325,4132016Revenue 2017: $5,043,471Expenses 2017: $4,966,217Net Income 2017: $77,2542017Revenue 2018: $5,108,498Expenses 2018: $4,942,837Net Income 2018: $165,6612018Revenue 2019: $4,554,552Expenses 2019: $5,157,927Net Income 2019: -$603,3752019Revenue 2020: $625,159Expenses 2020: $691,136Net Income 2020: -$65,9772020Revenue 2021: $178,998Expenses 2021: $254,115Net Income 2021: -$75,1172021Revenue 2022: $140,255Expenses 2022: $150,332Net Income 2022: -$10,0772022Revenue 2023: $193,411Expenses 2023: $214,176Net Income 2023: -$20,7652023Revenue 2024: $124,730Expenses 2024: $175,526Net Income 2024: -$50,7962024

Highlighted filing

2016

Revenue$4,918,130
Expenses$4,592,717
Net Income$325,413
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 15, 2017
Return Version
2015v3.0
Gross Receipts
$4,918,130
Mission and Program Overview

Mission

September of 2011 with the purpose of creating and advancing new opportunities to connect workforce and economic development as well as to promote small business development, growth and sustainability. The foundation is a 501(c)(3) corporation that provides private and publicly funded vocational education and training programs. The primary activity of the foundation is to support resource and fund development for workforce and economic development, small business development, and growth and sustainability initiatives as well as serve as a catalyst and incubator of new economic and workforce models.

The work2future foundation was established in september of 2011 with the purpose of creating and advancing new opportunities to connect workforce and economic development as well as to promote small business development, growth and sustainability. The work2future foundation provides private and publicly funded vocational education and training programs in santa clara county and its unincorporated areas. The work2future foundation serves an estimated 5,000 job seekers each year.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$186,035$643,348▲ $457,313
Pledges and Grants Receivable$189,381$144,165▼ $45,216
Prepaid Expenses and Deferred Charges$30,213$68,129▲ $37,916
Total Assets$405,629$855,642▲ $450,013
Liabilities
Accounts Payable and Accrued Expenses$179,007$184,628▲ $5,621
Other Liabilities$25,115$144,094▲ $118,979
Total Liabilities$204,122$328,722▲ $124,600
Net Assets / Fund Balance
Temporarily Rstr Net Assets$179,951$462,997▲ $283,046
Unrestricted Net Assets$21,556$63,923▲ $42,367
Total Net Assets Fund Balance$201,507$526,920▲ $325,413
Total Liabilities and Net Assets / Fund Balance$405,629$855,642▲ $450,013
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseTotal
David MirrioneExecutive DiFT$130,974$130,974

Board Members and Trustees

NameTitle
Benny BovedaChair
Dr Ingrid ThompsonDirector
Jason CameronDirector
Marzieh NabiDirector
Sara MoghadamDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$4,917,022
Program Service Revenue
$0
Investment Income
$1,108
Other Revenue
$0
All Other Contributions
$2,002,984
Change in Net Assets
$325,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,335,166
Other Expenses$257,551
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,233,252$33,005-$3,266,257
Other Employee Benefits$618,991$30,179-$649,170
Payroll Taxes$276,101$12,664-$288,765
Current Officers, Directors, Trustees, and Key Employees-$130,974-$130,974
Fees for Services Other$54,433$68,021-$122,454
Travel$27,476$1,092-$28,568
Other Expenses$5,658$565-$6,223
All Other Expenses-$1,136-$1,136
Total Functional Expenses$4,270,777$321,940$0$4,592,717
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$144,094
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The accountant and executive director review the 990 and compare it to the organization's financial statements and accounting reports.”

Form 990, Page 6, Part VI, Line 12C

“Individual board members report and the full board discusses any potential conflicts of interest if/when they arise.”

Form 990, Page 6, Part VI, Line 15A

“The process to determine the compensation of the organization's management officials all of the following elements: (1) review and approval by the board of directors or compensation committee of the organization; (2) use of data as to comparable compensation; and (3) contemporaneous documentation and recordkeeping.”

Form 990, Page 6, Part VI, Line 15B

“The process to determine the compensation of the organization's management officials all of the following elements: (1) review and approval by the board of directors or compensation committee of the organization; (2) use of data as to comparable compensation; and (3) contemporaneous documentation and recordkeeping.”

Form 990, Page 6, Part VI, Line 19

“These documents are available on the organization's website and on request.”

Filing and Contact Details

Filer

Filer Name
Work2future Foundation
EIN
45-3156415
Phone
4087941100
Address
1601 FOXWORTHY AVE, SAN JOSE, CA 95118

Signing Officer

Name
David Mirrione
Title
Executive Director
Phone
4087941100
Signed
2017-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Mirrione
Formed
2011
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
554

Preparer

Firm
Chavan & Associates Llp
Address
1475 SARATOGA AVE SUITE 180, SAN JOSE, CA 95129-4951
Preparer
Sheldon Chavan
Phone
4082178749
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The work2future foundation was established in september of 2011 with the purpose of creating and advancing new opportunities to connect workforce and economic development as well as to promote small business development, growth and sustainability. The work2future foundation provides private and publicly funded vocational education and training programs in santa clara county and its unincorporated areas. The work2future foundation serves an estimated 5,000 job seekers each year.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WORK2FUTURE FOUNDATION WAS ESTABLISHED IN SEPTEMBER OF 2011 WITH THE PURPOSE OF CREATING AND ADVANCING NEW OPPORTUNITIES TO CONNECT WORKFORCE AND ECONOMIC DEVELOPMENT AS WELL AS TO PROMOTE SMALL BUSINESS DEVELOPMENT, GROWTH AND SUSTAINABILITY. THE WORK2FUTURE FOUNDATION PROVIDES PRIVATE AND PUBLICLY FUNDED VOCATIONAL EDUCATION AND TRAINING PROGRAMS IN SANTA CLARA COUNTY AND ITS UNINCORPORATED AREAS. THE WORK2FUTURE FOUNDATION SERVES AN ESTIMATED 5,000 JOB SEEKERS EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ACCOUNTANT AND EXECUTIVE DIRECTOR REVIEW THE 990 AND COMPARE IT TO THE ORGANIZATION'S FINANCIAL STATEMENTS AND ACCOUNTING REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDIVIDUAL BOARD MEMBERS REPORT AND THE FULL BOARD DISCUSSES ANY POTENTIAL CONFLICTS OF INTEREST IF/WHEN THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS TO DETERMINE THE COMPENSATION OF THE ORGANIZATION'S MANAGEMENT OFFICIALS ALL OF THE FOLLOWING ELEMENTS: (1) REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OF THE ORGANIZATION; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS TO DETERMINE THE COMPENSATION OF THE ORGANIZATION'S MANAGEMENT OFFICIALS ALL OF THE FOLLOWING ELEMENTS: (1) REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OF THE ORGANIZATION; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THESE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04270777
IRS990/TotalFunctionalExpensesGrp/TotalAmt04592717
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IRS990/TotalProgramServiceExpensesAmt04270777
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01108
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IRS990/WebsiteAddressTxt0WWW.WORK2FUTUREFOUNDATION.ORG
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID MIRRIONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04087941100
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-15
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHAVAN & ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01475 SARATOGA AVE SUITE 180
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN JOSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0951294951
ReturnHeader/PreparerPersonGrp/PhoneNum04082178749
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELDON CHAVAN
ReturnHeader/ReturnTs02017-02-22T14:41:11-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$855,642
Liabilities
$328,722
Net assets
$526,920
Revenue
$4,918,130
Expenses
$4,592,717
Net income
$325,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.01$0.09$0.12$0.18$0.05
2023Summary only. Only limited summary data is available for this year.$0.15$0.01$0.14$0.19$0.21$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.25$0.09$0.16$0.14$0.15$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.02$0.17$0.18$0.25$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.08$0.25$0.63$0.69$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.40$0.17$4.55$5.16$0.60
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.25$0.48$0.77$5.11$4.94$0.17
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.40$0.60$5.04$4.97$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.86$0.33$0.53$4.92$4.59$0.33
2015Summary only. Only limited summary data is available for this year.$0.41$0.20$0.20$3.55$3.37$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.12$0.10$0.02$0.62$0.64$0.02