National Fund For Workforce Solutions
- Assets
- $7.9m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 23
- Location
- Washington, DC
- Founding
- 01/2016
- Data as of
- 09/2022
- EIN
- 47-5172476
Organization Overview
National Fund For Workforce Solutions is located in Washington, DC. The organization was established in 2016. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 09/2022, National Fund For Workforce Solutions employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Fund For Workforce Solutions 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 09/2022, National Fund For Workforce Solutions generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $6.0m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, National Fund For Workforce Solutions has awarded 99 individual grants totaling $10,183,981. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVATE EMPLOYERS TO MAKE JOBS BETTER:WE TAKE A DEMAND-DRIVEN APPROACH TO WORKFORCE DEVELOPMENT, BECAUSE EMPLOYERS ARE CRITICAL PARTNERS IN COMMUNITY DEVELOPMENT AND IN ACHIEVING OUR MISSION. BUT CONNECTING PEOPLE TO EMPLOYMENT IS NOT ENOUGH--WORKERS THRIVE IN GOOD JOBS AT AN ORGANIZATION WHERE THEY ARE VALUED. INVESTING IN FRONTLINE WORKERS IMPROVES RECRUITMENT AND RETENTION AND CREATES COMPETITIVE ADVANTAGE. WE ACTIVATE EMPLOYERS TO MAKE JOBS BETTER BECAUSE GOOD JOBS GENERATE BENEFITS FOR INDIVIDUALS AND THEIR FAMILIES, BUSINESSES, AND COMMUNITIES.
EQUIP WORKERS FOR SUCCESS:WORKERS SUCCEED IN A WELL-DESIGNED JOB AT AN ORGANIZATION WHERE THEY ARE VALUED. FROM TRAINING, UPSKILLING, AND APPRENTICESHIP TO WORKER ENGAGEMENT, SATISFACTION, AND WELL-BEING, WE PROMOTE THE FULL RANGE OF SKILLS DEVELOPMENT AND SUPPORTS THAT ENABLE WORKERS TO THRIVE. WE RECOGNIZE THE HUMANITY OF WORKERS AND ADVANCE PRACTICES AND WORKPLACE CULTURES THAT ALLOW WORKERS TO SHOW UP AS THEIR FULL SELVES.
CHANGE SYSTEMS:SOLVING WORKFORCE PROBLEMS REQUIRES SEEING THE WHOLE PICTURE, IN ALL OF ITS COMPLEXITY. IT MEANS MAKING CONNECTIONS AMONG ORGANIZATIONS, POLICIES, AND MINDSETS. SYSTEMS THINKING HELPS IDENTIFY THE RIGHT THING TO WORK ON--TO ADDRESS WHAT IS PREVENTING A PROBLEM FROM BEING SOLVED. SYSTEMS CHANGE STRATEGIES GO BEYOND SYMPTOMS AND SEEK TO TREAT CAUSES, EXAMINING THE UNDERLYING CONDITIONS OF POWER AND RELATIONSHIPS THAT ARE DRIVING EVENTS. SUCH STRATEGIES CAN BE A CRITICAL STEP TO HELP COMMUNITIES SYSTEMATICALLY ADDRESS RACIAL DISPARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whitney Smith Chairman | OfficerTrustee | 2 | $0 |
Peter Strange Chairman Emeritus | Trustee | 1 | $0 |
Earl Buford Treasurer | OfficerTrustee | 2 | $0 |
Ivye Allen Board Member | Trustee | 1 | $0 |
Denise Cherenfant Board Member | Trustee | 1 | $0 |
Paula Gilberto Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Workforce & Organizational Research Cent Consulting - Research | 9/29/22 | $182,270 |
Washington University Consulting - Study Of Collaboratives | 9/29/22 | $256,438 |
Design Impact Consulting - Activate Emp. Prgrm | 9/29/22 | $155,078 |
Anthology Communications Llc Consulting - Public Relations | 9/29/22 | $100,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,897,030 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,897,030 |
| Total Program Service Revenue | $294,456 |
| Investment income | $12,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,204,741 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,095,000 |
| 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. | $393,282 |
| Compensation of current officers, directors, key employees. | $126,331 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,429,239 |
| Pension plan accruals and contributions | $41,864 |
| Other employee benefits | $227,018 |
| Payroll taxes | $129,786 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,942 |
| Fees for services: Accounting | $127,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $623,489 |
| Advertising and promotion | $21,213 |
| Office expenses | $26,622 |
| Information technology | $62,309 |
| Royalties | $0 |
| Occupancy | $180,929 |
| Travel | $132,286 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $445,489 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,800 |
| Insurance | $3,167 |
| All other expenses | $12,921 |
| Total functional expenses | $6,020,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,526,904 |
| Savings and temporary cash investments | $2,037,091 |
| Pledges and grants receivable | $3,023,529 |
| Accounts receivable, net | $6,301 |
| 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 | $72,764 |
| Net Land, buildings, and equipment | $16,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,262,745 |
| Total assets | $7,945,834 |
| Accounts payable and accrued expenses | $617,642 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,459,245 |
| Total liabilities | $2,076,887 |
| Net assets without donor restrictions | $575,799 |
| Net assets with donor restrictions | $5,293,148 |
| 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 | $7,945,834 |
Grants Awarded
Over the last fiscal year, National Fund For Workforce Solutions has awarded $2,090,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
FUND FOR OUR ECONOMIC FUTURE PURPOSE: TO SUPPORT ACTIVATE EMPLOYERS PROGRAM | $285,000 |
ECONOMIC DEVELOPMENT COUNCIL OF WESTERN MASSACHUSETTS PURPOSE: TO SUPPORT THE CHANGE SYSTEMS & EQUIP WORKERS FOR SUCCESS PROGRAMS | $45,000 |
GREATER NEW ORLEANS FOUNDATION PURPOSE: TO SUPPORT ACTIVATE EMPLOYERS PROGRAM | $50,000 |
CENTERSTATE CEO FOUNDATION PURPOSE: TO SUPPORT THE ACTIVATE EMPLOYERS & EQUIP WORKERS FOR SUCCESS PROGRAMS | $290,000 |
KENTUCKIANAWORKS PURPOSE: TO SUPPORT THE ACTIVATE EMPLOYERS, CHANGE SYSTEMS, & EQUIP WORKERS FOR SUCCESS PROGRAMS | $230,000 |
MARYLAND PHILANTHROPY NETWORK PURPOSE: TO SUPPORT ACTIVATE EMPLOYERS PROGRAM | $50,000 |