Civic Intelligence

Work2Future Foundation

990 • Fiscal year 2018 • EIN 45-3156415

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

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

0.38x

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

36th percentile

0.09x

Higher debt load relative to revenue than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

51st percentile

3.2%

Higher net margin than 51% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

28th percentile

$71,679

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

86th percentile

24%

Faster asset growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

42nd percentile

1.3%

Faster revenue growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$1,245,100

Up $240,802 (+24%) from 2017

Net Assets

Up

$769,835

Up $165,661 (+27%) from 2017

Liabilities

Up

$475,265

Up $75,141 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin51st percentile

Revenue

Up

$5,108,498

Up $65,027 (+1.3%) from 2017

Expenses

Down

$4,942,837

Down $23,380 (-0.5%) from 2017

Net Income

Up

$165,661

Up $88,407 (+114%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth86th 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

2018

Assets$1,245,100
Liabilities$475,265
Net Assets$769,835
Open 2018 Filing

Operations Trend

Revenue Growth42nd 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

2018

Revenue$5,108,498
Expenses$4,942,837
Net Income$165,661
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$5,108,498
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$697,800$1,036,011▲ $338,211
Pledges and Grants Receivable$177,486$140,155▼ $37,331
Land, Buildings, and Equipment, Net$73,561$42,867▼ $30,694
Prepaid Expenses and Deferred Charges$29,936$26,067▼ $3,869
Accounts Receivable$25,515--
Total Assets$1,004,298$1,245,100▲ $240,802
Liabilities
Accounts Payable and Accrued Expenses$400,124$475,265▲ $75,141
Total Liabilities$400,124$475,265▲ $75,141
Net Assets / Fund Balance
Unrestricted Net Assets$433,909$619,121▲ $185,212
Temporarily Rstr Net Assets$170,265$150,714▼ $19,551
Total Net Assets Fund Balance$604,174$769,835▲ $165,661
Total Liabilities and Net Assets / Fund Balance$1,004,298$1,245,100▲ $240,802

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$42,867$49,215$92,082
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jose Rivera-lluberasExecutive DiFT$71,679$71,679

Board Members and Trustees

NameTitle
Jason CameronChair
Joe FosterDirector
Marzieh NabiDirector
Sara MoghadamDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$4,788,931
Program Service Revenue
$317,694
Investment Income
$1,873
Other Revenue
$0
All Other Contributions
$1,104,522
Change in Net Assets
$165,661

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$436,534Market Value in Area
Total Noncash Contributions1$436,534-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,252,549
Other Expenses$690,288
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,274,268$68,235-$3,342,503
Other Employee Benefits$480,995$52,180-$533,175
Occupancy$436,534--$436,534
Payroll Taxes$299,433$5,759-$305,192
Fees for Services Other$23,509$65,033-$88,542
Current Officers, Directors, Trustees, and Key Employees$71,679--$71,679
Depreciation Depletion-$30,694-$30,694
Insurance-$24,343-$24,343
Travel$16,731$536-$17,267
Other Expenses$2,940$2,366-$5,306
All Other Expenses-$2,772-$2,772
Total Functional Expenses$4,654,561$288,276$0$4,942,837
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
Kim Mccoy
Title
Interim Exec. Direct
Phone
4087941100
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Mccoy
Formed
2011
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
746

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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,245,100
Liabilities
$475,265
Net assets
$769,835
Revenue
$5,108,498
Expenses
$4,942,837
Net income
$165,661
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
2018Detailed filing. Detailed filing data is available for this year.$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