Civic Intelligence

Work2Future Foundation

990 • Fiscal year 2020 • EIN 45-3156415

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2020

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

72nd percentile

0.24x

Higher debt load relative to assets than 72% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

0.12x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

23rd percentile

-11%

Higher net margin than 23% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

3rd percentile

-43%

Faster asset growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-86%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$323,291

Down $242,746 (-43%) from 2019

Net Assets

Up

$246,455

Up $79,995 (+48%) from 2019

Liabilities

Down

$76,836

Down $322,741 (-81%) from 2019

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin23rd percentile

Revenue

Down

$625,159

Down $3,929,393 (-86%) from 2019

Expenses

Down

$691,136

Down $4,466,791 (-87%) from 2019

Net Income

Up

-$65,977

Up $537,398 (+89%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2020

Assets$323,291
Liabilities$76,836
Net Assets$246,455
Open 2020 Filing

Operations Trend

Revenue Growth2nd 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

2020

Revenue$625,159
Expenses$691,136
Net Income-$65,977
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2020
Return Version
2019v5.0
Gross Receipts
$625,159
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
Pledges and Grants Receivable$450,230--
Cash and Non-Interest-Bearing Accounts$101,605$323,291▲ $221,686
Land, Buildings, and Equipment, Net$12,173--
Prepaid Expenses and Deferred Charges$2,029--
Total Assets$566,037$323,291▼ $242,746
Liabilities
Accounts Payable and Accrued Expenses$399,577$76,836▼ $322,741
Total Liabilities$399,577$76,836▼ $322,741
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-131,754$191,455▲ $323,209
Net Assets With Donor Restrictions$298,214$55,000▼ $243,214
Total Net Assets Fund Balance$166,460$246,455▲ $79,995
Total Liabilities and Net Assets / Fund Balance$566,037$323,291▼ $242,746
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Khanh RussoChair
Nick AlmeidaDirector
Kim MccoyExec. Direct
Revenue and Support

Revenue Composition

Contributions and Grants
$534,968
Program Service Revenue
$89,698
Investment Income
$493
Other Revenue
$0
All Other Contributions
$534,968
Change in Net Assets
$-65,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$536,960
Other Expenses$154,176
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$416,104$16,287-$432,391
Fees for Services Other$10,490$63,579-$74,069
Other Employee Benefits$12,304$40,396-$52,700
Payroll Taxes$45,735$6,134-$51,869
Insurance-$12,912-$12,912
Depreciation Depletion-$12,173-$12,173
Other Expenses$303$1,249-$1,249
Travel$631--$631
All Other Expenses-$170-$170
Total Functional Expenses$488,187$202,949$0$691,136
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 35% controlled entity
No
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
Exec. Direct
Phone
4087941100
Signed
2020-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Mccoy
Formed
2011
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
2
Employees
5

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.”

Form 990, Part IX, Line 11G

“Professional services 10,490 63,579 0”

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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/ExplanationTxt6PROFESSIONAL SERVICES 10,490 63,579 0
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0566037
IRS990/TotalAssetsEOYAmt0323291
IRS990/TotalAssetsGrp/BOYAmt0566037
IRS990/TotalAssetsGrp/EOYAmt0323291
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0534968
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0202949
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0488187
IRS990/TotalFunctionalExpensesGrp/TotalAmt0691136
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0399577
IRS990/TotalLiabilitiesEOYAmt076836
IRS990/TotalLiabilitiesGrp/BOYAmt0399577
IRS990/TotalLiabilitiesGrp/EOYAmt076836
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0166460
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0246455
IRS990/TotalProgramServiceExpensesAmt0488187
IRS990/TotalProgramServiceRevenueAmt089698
IRS990/TotalRevenueGrp/ExclusionAmt0493
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt089698
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0625159
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0566037
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0323291
IRS990/TravelGrp/ProgramServicesAmt0631
IRS990/TravelGrp/TotalAmt0631
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SAN JOSE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd095118
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.WORK2FUTUREFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KIM MCCOY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC. DIRECT
ReturnHeader/BusinessOfficerGrp/PhoneNum04087941100
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WORK2FUTURE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WORK
ReturnHeader/Filer/EIN0453156415
ReturnHeader/Filer/PhoneNum04087941100
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270630496
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/PreparationDt02021-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELDON CHAVAN
ReturnHeader/ReturnTs02021-05-16T14:27:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$323,291
Liabilities
$76,836
Net assets
$246,455
Revenue
$625,159
Expenses
$691,136
Net income
-$65,977
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
2020Detailed filing. Detailed filing data is available for this year.$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