Civic Intelligence

Valeo Vocation

990 • Fiscal year 2022 • EIN 82-4092268

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 16, 2023

Organization Profilewww.valeovocation.org
Po Box 5970Tacoma, WA 98412

(253) 301-2134

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.56x

Higher debt load relative to assets than 82% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

52nd percentile

0.18x

Higher debt load relative to revenue than 52% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

59th percentile

11%

Higher net margin than 59% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

48th percentile

$118,299

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

99th percentile

419%

Faster asset growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

91st percentile

85%

Faster revenue growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$1,753,339

Up $1,415,685 (+419%) from 2021

Net Assets

Up

$770,660

Up $663,793 (+621%) from 2021

Liabilities

Up

$982,679

Up $751,892 (+326%) from 2021

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin59th percentile

Revenue

Up

$5,531,688

Up $2,546,525 (+85%) from 2021

Expenses

Up

$4,898,827

Up $2,062,835 (+73%) from 2021

Net Income

Up

$632,861

Up $483,690 (+324%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2018: $49,306Liabilities 2018: $28,5012018Assets 2019: $177,815Liabilities 2019: $182,360Net Assets 2019: -$4,5452019Assets 2020: $201,408Liabilities 2020: $243,954Net Assets 2020: -$42,5462020Assets 2021: $337,654Liabilities 2021: $230,787Net Assets 2021: $106,8672021Assets 2022: $1,753,339Liabilities 2022: $982,679Net Assets 2022: $770,6602022Assets 2023: $5,846,330Liabilities 2023: $2,441,542Net Assets 2023: $3,404,7882023Assets 2024: $5,664,490Liabilities 2024: $1,033,534Net Assets 2024: $4,630,9562024

Highlighted filing

2022

Assets$1,753,339
Liabilities$982,679
Net Assets$770,660
Open 2022 Filing

Operations Trend

Revenue Growth91st percentile

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

$10M$5.0M$0-$5.0MRevenue 2018: $153,325Expenses 2018: $132,520Net Income 2018: $20,8052018Revenue 2019: $832,145Expenses 2019: $857,495Net Income 2019: -$25,3502019Revenue 2020: $1,615,309Expenses 2020: $1,653,310Net Income 2020: -$38,0012020Revenue 2021: $2,985,163Expenses 2021: $2,835,992Net Income 2021: $149,1712021Revenue 2022: $5,531,688Expenses 2022: $4,898,827Net Income 2022: $632,8612022Revenue 2023: $8,053,706Expenses 2023: $5,403,099Net Income 2023: $2,650,6072023Revenue 2024: $7,316,182Expenses 2024: $5,984,879Net Income 2024: $1,331,3032024

Highlighted filing

2022

Revenue$5,531,688
Expenses$4,898,827
Net Income$632,861
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 16, 2023
Return Version
2022v5.0
Gross Receipts
$5,531,688
Mission and Program Overview

Mission

Valeos purpose is to use employment as a tool to end homelessness for participants by providing transitional jobs subsidized employment vocational training comprehensive case management financial counseling career navigation and support services.

Provide wraparound support and access to income to empower transformational change while helping individuals find dignified meaningful employment and permanent housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$270,899$1,266,611▲ $995,712
Cash and Non-Interest-Bearing Accounts$24,775$70,857▲ $46,082
Land, Buildings, and Equipment, Net$35,479$57,277▲ $21,798
Prepaid Expenses and Deferred Charges$6,501$3,618▼ $2,883
Savings and Temporary Cash Investments$0$723▲ $723
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$337,654$1,753,339▲ $1,415,685
Other Assets Total$0$354,253▲ $354,253
Liabilities
Accounts Payable and Accrued Expenses$230,787$417,694▲ $186,907
Other Liabilities$0$366,085▲ $366,085
Unsecured Notes Loans Payable$0$198,900▲ $198,900
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$230,787$982,679▲ $751,892
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$106,867$770,660▲ $663,793
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$106,867$770,660▲ $663,793
Total Liabilities and Net Assets / Fund Balance$337,654$1,753,339▲ $1,415,685

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,319$4,749-
Equipment$15,816$9,776-
Leasehold Improvements$30,142$6,861-
Other Assets Org$354,253--
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherri JensenExecutive DirectorFT$107,836$10,463$118,299

Board Members and Trustees

NameTitle
Luis Rivera ZayasPresident
Bruce TaylorBoard Member
Corwin ScottBoard Member
Erica AzcuetaBoard Member
James PogueBoard Member
Mark WinterBoard Member
Levongia CarreraTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None--$0
Revenue and Support

Revenue Composition

Contributions and Grants
$1,761,034
Program Service Revenue
$3,770,641
Investment Income
$13
Other Revenue
$0
All Other Contributions
$75,248
Change in Net Assets
$632,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,271,966
Other Expenses$598,861
Total Fundraising Expense$107,091
Professional Fundraising Fees$28,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,313,007$256,214$2,350$3,571,571
Payroll Taxes$438,583$28,625$4,349$471,557
Other Employee Benefits$78,111$38,706$4,185$121,002
Current Officers, Directors, Trustees, and Key Employees$21,568$43,134$43,134$107,836
Occupancy$72,610$14,069$7,742$94,421
Fees for Services Accounting$0$64,386$0$64,386
Interest$0$61,476$0$61,476
Office Expenses$33,310$22,429$3,701$59,440
Travel$12,256$18,380$0$30,636
Fees for Services Professional Fundraising--$28,000$28,000
Fees for Services Management$0$14,570$5,650$20,220
Insurance$17,223$1,546$235$19,004
Information Technology$11,274$3,006$752$15,032
Other Expenses$13,511$0$0$13,511
Depreciation Depletion$5,606$7,135$0$12,741
Conferences and Meetings$3,120$4,350$0$7,470
Advertising$0$0$5,268$5,268
Fees for Services Legal$0$2,813$0$2,813
Total Functional Expenses$4,141,851$649,885$107,091$4,898,827
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$28,000
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability - Lease Obligation$366,085
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11B

“A copy of the 990 is provided to the board prior to filing.”

Part VI, Line 12C

“All board members sign the conflict of interest policy annually.”

Part VI, Line 15

“The board decides on and approves the Executive Director's salary annually. In their determination they refer to independent salary data for reasonableness.”

Part VI, Line 19

“Valeo Vocations governing documents financials and conflict of interest policies are available upon request.”

Filing and Contact Details

Filer

Filer Name
Valeo Vocation
EIN
82-4092268
In Care Of
% Sherri Jensen
Phone
2533012134
Address
Po Box 5970, Tacoma, WA 98412

Signing Officer

Name
Sherri Jensen
Title
Executive Director
Signed
2023-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherri Jensen
Formed
2018
Legal Domicile
Wa
Voting Board Members
8
Independent Board Members
7
Employees
495
Volunteers
0

Preparer

Firm
Solid Chops Accounting
Address
5401 South Tacoma Way, Tacoma, WA 98409
Preparer
Brian Forsythe
Supplemental Narrative

Additional Explanations

Part XII, Line 3B

“Valeo Vocation is currently undergoing a financial statement and single audits but as of filing date they are not complete.”

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IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt0752
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt03006
IRS990/InformationTechnologyGrp/ProgramServicesAmt011274
IRS990/InformationTechnologyGrp/TotalAmt015032
IRS990/InsuranceGrp/FundraisingAmt0235
IRS990/InsuranceGrp/ManagementAndGeneralAmt01546
IRS990/InsuranceGrp/ProgramServicesAmt017223
IRS990/InsuranceGrp/TotalAmt019004
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt061476
IRS990/InterestGrp/ProgramServicesAmt00
IRS990/InterestGrp/TotalAmt061476
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt013
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt013
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt021386
IRS990/LandBldgEquipBasisNetGrp/BOYAmt035479
IRS990/LandBldgEquipBasisNetGrp/EOYAmt057277
IRS990/LandBldgEquipCostOrOtherBssAmt078663
IRS990/LegalDomicileStateCd0WA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LessRentalExpensesGrp/PersonalAmt00
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt00
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0false
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0Valeo's purpose is to use employment as a tool to end homelessness for participants by providing transitional jobs subsidized employment vocational training comprehensive case management financial counseling career navigation and support services.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt0106867
IRS990/NetAssetsOrFundBalancesEOYAmt0770660
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt00
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncomeFromGamingGrp/ExclusionAmt00
IRS990/NetIncomeFromGamingGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncomeOrLossGrp/ExclusionAmt00
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0106867
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0770660
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt07742
IRS990/OccupancyGrp/ManagementAndGeneralAmt014069
IRS990/OccupancyGrp/ProgramServicesAmt072610
IRS990/OccupancyGrp/TotalAmt094421
IRS990/OfficeExpensesGrp/FundraisingAmt03701
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt022429
IRS990/OfficeExpensesGrp/ProgramServicesAmt033310
IRS990/OfficeExpensesGrp/TotalAmt059440
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0354253
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt04185
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt038706
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt078111
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0121002
IRS990/OtherExpensesGrp/Desc0Program Supplies and Supportive Services
IRS990/OtherExpensesGrp/Desc1Excise Taxes, Bank and Business Registration
IRS990/OtherExpensesGrp/Desc2Staff Development and Volunteer Appreciation
IRS990/OtherExpensesGrp/Desc3Program Recruiting Costs
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt21725
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt157695
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt211351
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt088358
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt233314
IRS990/OtherExpensesGrp/ProgramServicesAmt313511
IRS990/OtherExpensesGrp/TotalAmt088358
IRS990/OtherExpensesGrp/TotalAmt157695
IRS990/OtherExpensesGrp/TotalAmt246390
IRS990/OtherExpensesGrp/TotalAmt313511
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0366085
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/ExclusionAmt20
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt00
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt10
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt20
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt02350
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0256214
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03313007
IRS990/OtherSalariesAndWagesGrp/TotalAmt03571571
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04349
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt028625
IRS990/PayrollTaxesGrp/ProgramServicesAmt0438583

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,753,339
Liabilities
$982,679
Net assets
$770,660
Revenue
$5,531,688
Expenses
$4,898,827
Net income
$632,861
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.66$1.03$4.63$7.32$5.98$1.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.85$2.44$3.40$8.05$5.40$2.65
2022Detailed filing. Detailed filing data is available for this year.$1.75$0.98$0.77$5.53$4.90$0.63
2021Detailed filing. Detailed filing data is available for this year.$0.34$0.23$0.11$2.99$2.84$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.20$0.24$0.04$1.62$1.65$0.04
2019Summary only. Only limited summary data is available for this year.$0.18$0.18$0.00$0.83$0.86$0.03
2018Summary only. Only limited summary data is available for this year.$0.05$0.03$0.15$0.13$0.02