Civic Intelligence

Work2Future Foundation

990 • Fiscal year 2017 • EIN 45-3156415

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

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

69th percentile

0.40x

Higher debt load relative to assets than 69% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

32nd percentile

0.08x

Higher debt load relative to revenue than 32% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

45th percentile

1.5%

Higher net margin than 45% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

80th percentile

17%

Faster asset growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

44th percentile

2.5%

Faster revenue growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$1,004,298

Up $148,656 (+17%) from 2016

Net Assets

Up

$604,174

Up $77,254 (+15%) from 2016

Liabilities

Up

$400,124

Up $71,402 (+22%) from 2016

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin45th percentile

Revenue

Up

$5,043,471

Up $125,341 (+2.5%) from 2016

Expenses

Up

$4,966,217

Up $373,500 (+8.1%) from 2016

Net Income

Down

$77,254

Down $248,159 (-76%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2017

Assets$1,004,298
Liabilities$400,124
Net Assets$604,174
Open 2017 Filing

Operations Trend

Revenue Growth44th 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

2017

Revenue$5,043,471
Expenses$4,966,217
Net Income$77,254
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$5,043,471
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$643,348$697,800▲ $54,452
Pledges and Grants Receivable$144,165$177,486▲ $33,321
Land, Buildings, and Equipment, Net-$73,561-
Prepaid Expenses and Deferred Charges$68,129$29,936▼ $38,193
Accounts Receivable-$25,515-
Total Assets$855,642$1,004,298▲ $148,656
Liabilities
Accounts Payable and Accrued Expenses$184,628$400,124▲ $215,496
Other Liabilities$144,094--
Total Liabilities$328,722$400,124▲ $71,402
Net Assets / Fund Balance
Unrestricted Net Assets$63,923$433,909▲ $369,986
Temporarily Rstr Net Assets$462,997$170,265▼ $292,732
Total Net Assets Fund Balance$526,920$604,174▲ $77,254
Total Liabilities and Net Assets / Fund Balance$855,642$1,004,298▲ $148,656

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$73,561$18,521$92,082
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

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

Board Members and Trustees

NameTitle
Jason CameronChair
Marzieh NabiDirector
Sara MoghadamDirector
Stacey SauberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,872,011
Program Service Revenue
$170,135
Investment Income
$1,325
Other Revenue
$0
All Other Contributions
$1,539,583
Change in Net Assets
$77,254

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$530,127Similar Property
Total Noncash Contributions1$530,127-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,707,245
Other Expenses$258,972
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,637,312$72,824-$3,710,136
Other Employee Benefits$507,764$12,789-$520,553
Payroll Taxes$321,557$24,025-$345,582
Current Officers, Directors, Trustees, and Key Employees$130,974--$130,974
Fees for Services Other$16,552$34,882-$51,434
Travel$21,355$1,913-$23,268
Insurance-$22,044-$22,044
Depreciation Depletion-$16,227-$16,227
Other Expenses$4,545$4,971-$9,516
All Other Expenses$1,153$6,148-$7,301
Total Functional Expenses$4,735,832$230,385$0$4,966,217
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
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
Stacey Sauber
Title
Treasurer
Phone
4087941100
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Mirrione
Formed
2011
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
701

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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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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,004,298
Liabilities
$400,124
Net assets
$604,174
Revenue
$5,043,471
Expenses
$4,966,217
Net income
$77,254
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
2017Detailed filing. Detailed filing data is available for this year.$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