Talent First Inc
- Assets
- $4.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 9
- Location
- Grand Rapids, MI
- Founding
- 09/2010
- Data as of
- 12/2023
- EIN
- 27-0193853
Organization Overview
Talent First Inc is located in Grand Rapids, MI. The organization was established in 2010. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Talent First Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Talent First Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Talent First Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 13.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CATALYZE AN ALIGNED TALENT SYSTEM FROM EARLY CHILDHOOD TO CAREER, SO EMPLOYERS HAVE THE TALENT THEY NEED NOW AND IN THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TALENT FIRST IS A CEO ALLIANCE SERVING 13 COUNTIES IN WEST MICHIGAN PROVIDING LEADERSHIP ON TODAY'S COMPLEX TALENT CHALLENGES. WE RELY ON DATA AND EXPERTISE TO ILLUMINATE GAPS, EVALUATE STRATEGIES, AND ADVOCATE FOR SOLUTIONS TO ATTRACT, RETAIN, AND DEVELOP THE TALENT WEST MICHIGAN EMPLOYERS NEED AND TO ENSURE ALL INDIVIDUALS AND THE REGION CAN THRIVE. IN 2023, WE CONVENED STAKEHOLDERS FROM OUR WORKING GROUPS TO DEVELOP INSIGHTS AND SOLUTIONS TO ENHANCE THE REGION'S TALENT ATTRACTION, RETENTION, AND DEVELOPMENT EFFORTS.
IN 2023, TALENT FIRST BEGAN ACTIVITIES FOR THE MICHIGAN CENTER FOR ADULT COLLEGE SUCCESS TO SERVE AS THE STATE'S PRIMARY RESOURCE FOR RESEARCH, SUPPORT, AND BEST PRACTICES ON ENSURING ADULT ENROLLMENT AND COMPLETION OF CREDENTIALS. THIS INITIATIVE IS FUNDED WITH AN APPROPRIATION BY THE STATE OF MICHIGAN. ACTIVITIES INCLUDED HIRING STAFF, PUBLISHING A REPORT ASSESSING THE STATE'S PERFORMANCE SERVING ADULT LEARNERS AND NATIONAL BEST PRACTICES, CONVENING LEADERS FROM POST-SECONDARY INSTITUTIONS, AND PROVIDING TECHNICAL ASSISTANCE TO INSTITUTIONS THAT WANT TO EXPLORE HOW TO IMPROVE ADULT LEARNER OUTCOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark White Co-Chair | OfficerTrustee | 2 | $0 |
Matt Biersack Co-Chair | OfficerTrustee | 2 | $0 |
Rhonda Huisman Treasurer | OfficerTrustee | 2 | $0 |
Ginny Seyferth Secretary | OfficerTrustee | 1.5 | $0 |
Leslie Brown Director | Trustee | 1.5 | $0 |
Fred Keller Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Diploma Equity Project Consulting Research | 12/30/23 | $150,000 |
Basis Policy Research Consulting Research | 12/30/23 | $121,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $535,710 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $752,529 |
| All other contributions, gifts, grants, and similar amounts not included above | $316,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,604,739 |
| Total Program Service Revenue | $33,209 |
| Investment income | $86,694 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,925 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,743,577 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $251,886 |
| Compensation of current officers, directors, key employees. | $75,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $460,872 |
| Pension plan accruals and contributions | $9,934 |
| Other employee benefits | $43,878 |
| Payroll taxes | $49,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,276 |
| Fees for services: Accounting | $57,697 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,264 |
| Advertising and promotion | $37,470 |
| Office expenses | $27,850 |
| Information technology | $26,465 |
| Royalties | $0 |
| Occupancy | $68,641 |
| Travel | $17,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,494 |
| Interest | $3,616 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,074 |
| Insurance | $2,522 |
| All other expenses | $4,981 |
| Total functional expenses | $1,658,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,688 |
| Savings and temporary cash investments | $3,663,614 |
| Pledges and grants receivable | $17,790 |
| Accounts receivable, net | $92,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,616 |
| Net Land, buildings, and equipment | $47,495 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,442 |
| Total assets | $4,111,145 |
| Accounts payable and accrued expenses | $123,961 |
| Grants payable | $0 |
| Deferred revenue | $3,614,730 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $125,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $62,247 |
| Total liabilities | $3,925,938 |
| Net assets without donor restrictions | $152,707 |
| Net assets with donor restrictions | $32,500 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,111,145 |