Civic Intelligence

Valeo Vocation

990 • Fiscal year 2023 • EIN 82-4092268

Jan 01, 2023 to Dec 31, 2023 • Filed on Jan 17, 2025

Organization Profilewww.valeovocation.org
Po Box 5907Tacoma, WA 98412

(253) 301-2134

Siviq Scores

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

Liabilities / Assets

75th percentile

0.42x

Higher debt load relative to assets than 75% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.30x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

84th percentile

33%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

62nd percentile

$154,563

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

98th percentile

233%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

84th percentile

46%

Faster revenue growth than 84% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$5,846,330

Up $4,092,991 (+233%) from 2022

Net Assets

Up

$3,404,788

Up $2,634,128 (+342%) from 2022

Liabilities

Up

$2,441,542

Up $1,458,863 (+148%) from 2022

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin84th percentile

Revenue

Up

$8,053,706

Up $2,522,018 (+46%) from 2022

Expenses

Up

$5,403,099

Up $504,272 (+10%) from 2022

Net Income

Up

$2,650,607

Up $2,017,746 (+319%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2023

Assets$5,846,330
Liabilities$2,441,542
Net Assets$3,404,788
Open 2023 Filing

Operations Trend

Revenue Growth84th 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

2023

Revenue$8,053,706
Expenses$5,403,099
Net Income$2,650,607
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jan 17, 2025
Return Version
2023v6.0
Gross Receipts
$8,059,772
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
Land, Buildings, and Equipment, Net$57,277$3,835,123▲ $3,777,846
Savings and Temporary Cash Investments$723$847,606▲ $846,883
Accounts Receivable$1,266,611$775,106▼ $491,505
Pledges and Grants Receivable$0$279,985▲ $279,985
Cash and Non-Interest-Bearing Accounts$70,857$66,150▼ $4,707
Prepaid Expenses and Deferred Charges$3,618$42,360▲ $38,742
Other Notes and Loans Receivable, Net$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$1,753,339$5,846,330▲ $4,092,991
Other Assets Total$354,253$0▼ $354,253
Liabilities
Mortgage Notes Payable Secured by Investment Property$0$1,788,000▲ $1,788,000
Accounts Payable and Accrued Expenses$417,694$454,642▲ $36,948
Other Liabilities$366,085$0▼ $366,085
Unsecured Notes Loans Payable$198,900$198,900→ $0
Grants Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$982,679$2,441,542▲ $1,458,863
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$770,660$3,404,788▲ $2,634,128
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$770,660$3,404,788▲ $2,634,128
Total Liabilities and Net Assets / Fund Balance$1,753,339$5,846,330▲ $4,092,991

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,245,980$0-
Other Land Buildings$3,088$5,980-
Land$575,424--
Equipment$10,631$14,961-
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherri JensenExecutive DirectorFT$142,115$12,448$154,563

Board Members and Trustees

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

Highest Paid Contractors

ContractorServicesLocationCompensation
Synergi Partners IncCARES Act ConsultingPO Box 5599, Florence, SC 29502$145,631
Revenue and Support

Revenue Composition

Contributions and Grants
$4,852,347
Program Service Revenue
$3,182,168
Investment Income
$19,024
Other Revenue
$167
All Other Contributions
$19,891
Change in Net Assets
$2,650,607
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,461,284
Other Expenses$922,085
Total Fundraising Expense$116,535
Professional Fundraising Fees$19,730
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,321,901$314,206$0$3,636,107
Payroll Taxes$494,473$38,071$4,397$536,941
Fees for Services Management$39,250$190,192$29,750$259,192
Other Employee Benefits$96,159$43,477$6,485$146,121
Current Officers, Directors, Trustees, and Key Employees$44,285$55,186$42,644$142,115
Fees for Services Accounting$0$136,290$0$136,290
Occupancy$50,337$13,422$3,356$67,115
Information Technology$32,579$11,851$631$45,061
Fees for Services Legal$0$28,380$0$28,380
Office Expenses$18,000$6,548$348$24,896
Insurance$21,740$1,911$239$23,890
Travel$13,237$8,264$0$21,501
Fees for Services Professional Fundraising--$19,730$19,730
Interest$0$17,836$0$17,836
Depreciation Depletion$11,962$3,190$797$15,949
Other Expenses$12,538$0$0$12,538
All Other Expenses$2,590$3,616$2,891$9,097
Conferences and Meetings$2,566$5,845$0$8,411
Advertising$0$0$4,554$4,554
Total Functional Expenses$4,298,082$988,482$116,535$5,403,099
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$19,730
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
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 Directors 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 5907, Tacoma, WA 98412

Signing Officer

Name
Sherri Jensen
Title
Executive Director
Signed
2025-01-17
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
464
Volunteers
0

Preparer

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

Additional Explanations

Part XII, Line 3B

“We are working through the audit on 2022. Once that is complete the 2023 audit will begin.”

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IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt0631
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt011851
IRS990/InformationTechnologyGrp/ProgramServicesAmt032579
IRS990/InformationTechnologyGrp/TotalAmt045061
IRS990/InsuranceGrp/FundraisingAmt0239
IRS990/InsuranceGrp/ManagementAndGeneralAmt01911
IRS990/InsuranceGrp/ProgramServicesAmt021740
IRS990/InsuranceGrp/TotalAmt023890
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt017836
IRS990/InterestGrp/ProgramServicesAmt00
IRS990/InterestGrp/TotalAmt017836
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt07742
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt07742
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/LandBldgEquipAccumDeprecAmt020941
IRS990/LandBldgEquipBasisNetGrp/BOYAmt057277
IRS990/LandBldgEquipBasisNetGrp/EOYAmt03835123
IRS990/LandBldgEquipCostOrOtherBssAmt03856064
IRS990/LegalDomicileStateCd0WA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt06066
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/MissionDesc0Valeos 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/EOYAmt01788000
IRS990/NetAssetsOrFundBalancesBOYAmt0770660
IRS990/NetAssetsOrFundBalancesEOYAmt03404788
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt011282
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt011282
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/BOYAmt0770660
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03404788
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt03356
IRS990/OccupancyGrp/ManagementAndGeneralAmt013422
IRS990/OccupancyGrp/ProgramServicesAmt050337
IRS990/OccupancyGrp/TotalAmt067115
IRS990/OfficeExpensesGrp/FundraisingAmt0348
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06548
IRS990/OfficeExpensesGrp/ProgramServicesAmt018000
IRS990/OfficeExpensesGrp/TotalAmt024896
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0354253
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt06485
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt043477
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt096159
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0146121
IRS990/OtherExpensesGrp/Desc0Program Supplies and Supportive Services
IRS990/OtherExpensesGrp/Desc1Excise Taxes, Bank and Business License Fees
IRS990/OtherExpensesGrp/Desc2Staff Development and Volunteer Appreciation
IRS990/OtherExpensesGrp/Desc3Program Recruiting Costs
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt2713
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt196801
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt213396
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt099640
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt236825
IRS990/OtherExpensesGrp/ProgramServicesAmt312538
IRS990/OtherExpensesGrp/TotalAmt099640
IRS990/OtherExpensesGrp/TotalAmt196801
IRS990/OtherExpensesGrp/TotalAmt250934
IRS990/OtherExpensesGrp/TotalAmt312538
IRS990/OtherLiabilitiesGrp/BOYAmt0366085
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueMiscGrp/BusinessCd0561499
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous Revenue
IRS990/OtherRevenueMiscGrp/ExclusionAmt0167
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/ExclusionAmt20
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0167
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt10
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt20
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20
IRS990/OtherRevenueTotalAmt0167
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0314206
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03321901
IRS990/OtherSalariesAndWagesGrp/TotalAmt03636107
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04397
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt038071
IRS990/PayrollTaxesGrp/ProgramServicesAmt0494473
IRS990/PayrollTaxesGrp/TotalAmt0536941
IRS990/PensionPlanContributionsGrp/FundraisingAmt00

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,846,330
Liabilities
$2,441,542
Net assets
$3,404,788
Revenue
$8,053,706
Expenses
$5,403,099
Net income
$2,650,607
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
2023Detailed filing. Detailed filing data is available for this year.$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