Form 990 for tax year 2024
Filed by PUGET SOUND OPPORTUNTIES INDUSTRIALIZATION CENTER.
Totals
- Total revenue
- $1,104,246
- Total expenses
- $942,407
- Contributions and grants received
- $1,094,544
- Grants paid
- $0
- Program service revenue
- $8,795
- Investment income
- $907
- Other revenue
- $0
- Total assets, end of year
- $685,144
- Total liabilities, end of year
- $25,609
- Net assets or fund balances, end of year
- $659,535
- Program services expenses (Part IX)
- $849,500
- Management and general expenses
- $84,206
- Fundraising expenses
- $8,701
- Program service expenses (Part III)
- $849,500
Program services were 90.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$909,624
-
1f · All other contributions, gifts and grants
$184,920
-
2a · Program service revenue: Private Pay Training
total $5,795 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Private contracts
total $3,000 · unrelated business $0 · excluded $0
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7a · Gross sales of assets other than inventory
other assets $1,200
-
7b · Less cost or other basis and sales expenses
other assets $293
-
7c · Gain or loss
other assets $907
-
7d · Net gain or loss
total $907 · related or exempt $907 · unrelated business $0 · excluded $0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $57,665 · program services $6,605 · management and general $51,060 · fundraising $0
-
7 · Other salaries and wages
total $574,881 · program services $567,998 · management and general $0 · fundraising $6,883
-
9 · Other employee benefits
total $31,151 · program services $26,210 · management and general $4,046 · fundraising $895
-
10 · Payroll taxes
total $56,813 · program services $50,072 · management and general $5,848 · fundraising $893
-
11a · Fees: management
total $24,334 · program services $15,692 · management and general $8,642 · fundraising $0
-
12 · Advertising and promotion
total $10,406 · program services $10,406 · management and general $0 · fundraising $0
-
13 · Office expenses
total $26,632 · program services $23,696 · management and general $2,927 · fundraising $9
-
14 · Information technology
total $2,706 · program services $2,305 · management and general $401 · fundraising $0
-
16 · Occupancy
total $108,931 · program services $104,425 · management and general $4,506 · fundraising $0
-
17 · Travel
total $1,422 · program services $1,284 · management and general $117 · fundraising $21
-
19 · Conferences, conventions and meetings
total $4,449 · program services $2,133 · management and general $2,316 · fundraising $0
-
20 · Interest
total $405 · program services $1 · management and general $404 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $4,592 · program services $4,530 · management and general $62 · fundraising $0
-
23 · Insurance
total $11,463 · program services $9,171 · management and general $2,292 · fundraising $0
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24a · Other expenses: Miscellaneous
total $940 · program services $776 · management and general $164 · fundraising $0
-
24b · Other expenses: Dues and subscriptions
total $1,978 · program services $1,377 · management and general $601 · fundraising $0
-
24c · Other expenses: Equipment rental, repairs and purchases
total $5,420 · program services $4,956 · management and general $464 · fundraising $0
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24d · Other expenses: Student services and empl verif
total $16,010 · program services $16,010 · management and general $0 · fundraising $0
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24e · All other expenses
total $2,209 · program services $1,853 · management and general $356 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $413,805 · end of year $396,492
-
4 · Accounts receivable
beginning of year $135,891 · end of year $259,448
-
9 · Prepaid expenses and deferred charges
beginning of year $2,525 · end of year $2,833
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10a · Land, buildings and equipment: cost or other basis
$158,971
-
10b · Land, buildings and equipment: accumulated depreciation
$134,199
-
10c · Land, buildings and equipment, net
beginning of year $2,634 · end of year $24,772
-
14 · Intangible assets
beginning of year $1,000 · end of year $1,000
-
15 · Other assets
end of year $599
-
17 · Accounts payable and accrued expenses
beginning of year $58,158 · end of year $25,609
-
27 · Net assets without donor restrictions
beginning of year $465,197 · end of year $659,535
-
28 · Net assets with donor restrictions
beginning of year $32,500
Mission and programs · 2024
Mission
The Mission of Puget Sound Training Center is to provide customized skills training opportunities for the low income individuals in the Puget Sound Region, and to develop and provide employment opportunities at a
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1) The Limited English Proficiency (LEP) Program, funded by the Office of Refugee and Immigrant Assistance,serves newly arrived refugees and immigrants by providing a range of services designed to promote financial independence and long-term employment stability. The program offers career planning, comprehensive case management, cultural navigation, financial literacy education, customized job training, job placement support, and ongoing retention services for both participants and employers. In Fiscal Year 2025, the program supported 399 refugees and immigrants, empowering them to build sustainable careers and achieve greater financial security. Key Services Provided: 399 individuals received culturally competent employment support and training. Career Planning: Personalized career assessments and skill development. Financial Literacy: Workshops on budgeting, saving, and financial independence. Job Placement:Assistance with securing employment and long-term job retention support. Employer Partnerships: Collaboration with local employers to secure positions for participants and ensure workplace integration.
Expenses $430,502 · Revenue $8,795
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The Basic Food Employment & Training (BFET Program) provides essential employment and training services to low-income individuals receiving food assistance. Funded by the state and federal government, the program aims to help participants find sustainable career opportunities, improve their employability through skill-building, and progress in their careers over time. In Fiscal Year 2025, the program served 98 individuals, offering support through job coaching, skill development, credentialing opportunities, and wage progression. Key Services Provided: 98 participants received job readiness training and employment support. Job Coaching: One-on-one sessions to help participants identify career goals and strategies. Credentialing Opportunities: Access to local training programs and certifications to increase employability. Wage Progression Assistance: Support in navigating wage increases and career advancement. Impact: Enabled low-income individuals to secure and retain employment while advancing in their careers through continued support and resources.
Expenses $200,583
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3) Food Assistance Program (FAP) The Food Assistance Program (FAP), funded by the Office of Refugee and Immigrant Assistance, helps newly arrived refugees and immigrants access career planning, job training, financial literacy, and long-term job retention support. In fiscal year 2025, the program provided vital services to help individuals transition from food assistance to sustainable employment. Key Services Provided: Career planning and culturally competent job placement services. 266 individuals received case management, cultural navigation, and financial literacy education. Impact: Empowered refugees and asylees to gain independence, develop life skills, and pursue sustainable careers. Focused on both immediate employment support and long-term educational and career pathways.
Expenses $116,562
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Refugee Youth Mentoring Program- Focuses on young refugees and asylees aged 18-24 who have been in the U.S. for five years or less. This program provides a combination of employment services, educational support, job training, and mentorship to help these young individuals successfully integrate into the workforce and society. The program helps participants overcome the challenges they face as they transition into adulthood and navigate life in a new country. In Fiscal Year 2025, the program served 29 youth, providing them with the resources and support to build a strong foundation.
Expenses $101,853
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ron Newton
Board Chair
- Total calculated
- $0
- Hours/week
- 2
-
Samantha Nelson
Secretary/Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Peter Gunter
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Joseph P Drake
CEO
- Total calculated
- $129,785
- From this org
- $129,785
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Gloria Barber
Member
- Total calculated
- $0
- Hours/week
- 1
-
Shannon Matson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Heidi Odom
Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeff Glessner
Member
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349321561
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