Second Chance Initiative Inc
- Assets
- $319.5k
- Revenue
- $578.1k
- Investments
- $0.0
- Employees
- 21
- Location
- Boca Raton, FL
- Founding
- 08/2018
- Data as of
- 12/2023
- EIN
- 83-1405102
Organization Overview
Second Chance Initiative Inc is located in Boca Raton, FL. The organization was established in 2018. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Second Chance Initiative Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Second Chance Initiative 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, Second Chance Initiative Inc generated $578.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $458.6k during the year ending 12/2023. While expenses have increased by 32.7% per year over the past 5 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
WE CREATE JOBS THAT HELP WOMEN IN RECOVERY FLOURISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAVE ONE PROGRAM SERVICE - TO OFFER JOBS TO WOMEN IN RECOVERY. THE WOMEN WE EMPLOY HAVE OVERCOME SIGNIFICANT OBSTACLES IN THEIR LIVES, RANGING FROM ABUSE AND POST TRAUMATIC STRESS DISORDER TO ADDICTION AND HOMELESSNESS. WE OFFER THEM JOBS THROUGH THE SOCIAL ENTERPRISE MODEL, WHICH ALLOWS US TO SELF-FUND A PORTION OF OUR PROGRAM, WHILE GIVING OUR PROGRAM PARTICIPANTS RELEVANT AND MARKETABLE WORK EXPERIENCE IN A REAL-WORLD SETTING. OUR SOCIAL ENTERPRISE IS A PRODUCT BASED ECOMMERCE SHOP. THE MAJORITY OF OUR LADIES ARE TRANSITIONAL EMPLOYEES; WE OFFER THEM A CARING ENVIRONMENT OF STRUCTURED JOBS TO HELP THEM OVERCOME OBSTACLES TO RE- ENTERING THE WORKFORCE. THEY, FOR THE MOST PART, PERFORM ENTRY LEVEL TASKS INCLUDING CUSTOMER SERVICE AND ORDER FULFILLMENT. EACH OF THESE FUNCTIONAL AREAS IS DESIGNED TO ALLOW THE PROGRAM PARTICPANTS TO MOVE TO A ROLE IN THE TRADITIONAL WORKFORCE. WE ALSO OFFER A SELECT NUMBER OF PROGRAM PARTICPANTS LONGER-TERM LEADERSHIP ROLES TO HELP US GROW OUR SOCIAL ENTERPRISE THEREBY CREATING MORE JOB OPPORTUNITIES. IN ADDITION, WE PROVIDE SEVERAL WELLNESS ACTIVITIES REGULARLY ALONG WITH TUTORIAL PROGRAMS TO AID IN OUR PARTICIPANTS' ABILITY TO SUCCESSFULLY COMPETE FOR AND RETAIN JOBS IN THE REAL-WORLD. ALL OF OUR PARTICIPANTS SELF-IDENTIFY AS BEING IN RECOVERY FROM A VARIETY OF SITUATIONS AND CONDITIONS. EACH IS GRATEFUL FOR THE OPPORTUNITY WE PROVIDE. WE ARE, IN TURN, BOTH HUMBLED AND THRILLED TO SEE THEIR HARD WORK BUILD A BRIGHTER FUTURE FOR THEMSELVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keely Carney Founder & Di | Trustee | 1 | $0 |
Christopher Malfitano President & | OfficerTrustee | 1 | $0 |
Casey L Gunnell Treasurer & | OfficerTrustee | 1 | $0 |
Sarah Lucas Secretary & | OfficerTrustee | 1 | $0 |
Joel L Moses Director | Trustee | 1 | $0 |
Bruce Rosetto Director | Trustee | 1 | $0 |
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 | $502,915 |
| Noncash contributions included in lines 1a–1f | $950 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $502,915 |
| Total Program Service Revenue | $0 |
| Investment income | $2,357 |
| 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 | $72,780 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $578,052 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $283,794 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,339 |
| Payroll taxes | $21,292 |
| Fees for services: Management | $7,898 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,968 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,968 |
| Advertising and promotion | $14,802 |
| Office expenses | $21,222 |
| Information technology | $58 |
| Royalties | $0 |
| Occupancy | $46,273 |
| Travel | $3,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $426 |
| Insurance | $7,471 |
| All other expenses | $0 |
| Total functional expenses | $458,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,904 |
| Savings and temporary cash investments | $102,357 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $623 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,815 |
| Prepaid expenses and deferred charges | $10,074 |
| Net Land, buildings, and equipment | $10,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $319,505 |
| Accounts payable and accrued expenses | $15,701 |
| 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 | $0 |
| Total liabilities | $15,701 |
| Net assets without donor restrictions | $183,807 |
| Net assets with donor restrictions | $119,997 |
| 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 | $319,505 |