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← PROFESSIONAL CONTRACT SERVICES INC

Form 990 for tax year 2023

Filed by PROFESSIONAL CONTRACT SERVICES INC.

Totals

Total revenue
$202,355,470
Total expenses
$180,441,705
Contributions and grants received
$0
Grants paid
$782,815
Program service revenue
$198,137,068
Investment income
$4,144,992
Other revenue
$73,410
Total assets, end of year
$209,946,874
Total liabilities, end of year
$43,192,325
Net assets or fund balances, end of year
$166,754,549
Program services expenses (Part IX)
$157,022,695
Management and general expenses
$23,419,010
Fundraising expenses
$0
Program service expenses (Part III)
$157,022,695

Program services were 87.0% 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.

  • 2a · Program service revenue: GOVERNMENT SERVICE CONTRACT REVEN

    total $197,958,425 · related or exempt $197,958,425

  • 2b · Program service revenue: OTHER PROGRAM SERVICES

    total $178,643 · related or exempt $178,643

  • 3 · Investment income

    total $1,987,898 · excluded $1,987,898

  • 7a · Gross sales of assets other than inventory

    securities $32,509,364 · other assets $68,503

  • 7b · Less cost or other basis and sales expenses

    securities $30,419,125 · other assets $1,648

  • 7c · Gain or loss

    securities $2,090,239 · other assets $66,855

  • 7d · Net gain or loss

    total $2,157,094 · excluded $2,157,094

  • 11a · Other revenue: PROMPT PAY DISCOUNT

    total $73,410 · related or exempt $73,410

  • 11e · Other revenue, total

    $73,410

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $655,536 · program services $655,536

  • 2 · Grants to domestic individuals

    total $127,279 · program services $127,279

  • 5 · Compensation of officers, directors and key employees

    total $3,220,138 · program services $2,684,783 · management and general $535,355

  • 7 · Other salaries and wages

    total $84,381,621 · program services $72,767,821 · management and general $11,613,800

  • 8 · Pension plan contributions

    total $6,518,736 · program services $6,183,974 · management and general $334,762

  • 9 · Other employee benefits

    total $16,411,737 · program services $13,403,458 · management and general $3,008,279

  • 10 · Payroll taxes

    total $6,912,014 · program services $6,032,563 · management and general $879,451

  • 11a · Fees: management

    total $588,605 · program services $56,651 · management and general $531,954

  • 11b · Fees: legal

    total $218,361 · program services $21,016 · management and general $197,345

  • 11c · Fees: accounting

    total $141,607 · program services $13,629 · management and general $127,978

  • 11f · Fees: investment management

    total $484,976 · management and general $484,976

  • 11g · Fees: other

    total $35,457,162 · program services $33,617,672 · management and general $1,839,490

  • 12 · Advertising and promotion

    total $342,770 · program services $4,765 · management and general $338,005

  • 13 · Office expenses

    total $583,442 · program services $482,600 · management and general $100,842

  • 14 · Information technology

    total $178,947 · program services $149,142 · management and general $29,805

  • 16 · Occupancy

    total $2,047,104 · program services $1,870,587 · management and general $176,517

  • 17 · Travel

    total $1,619,488 · program services $768,568 · management and general $850,920

  • 20 · Interest

    total $529,235 · program services $534 · management and general $528,701

  • 22 · Depreciation, depletion and amortization

    total $1,800,928 · program services $964,660 · management and general $836,268

  • 23 · Insurance

    total $2,776,422 · program services $2,091,455 · management and general $684,967

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $13,775,939 · program services $13,668,619 · management and general $107,320

  • 24b · Other expenses: UNIFORMS/SAFETY

    total $542,959 · program services $531,120 · management and general $11,839

  • 24c · Other expenses: SMALL TOOLS AND EQUIPME

    total $534,232 · program services $471,446 · management and general $62,786

  • 24d · Other expenses: AUTOMOBILE/REPAIR&MAINT

    total $382,540 · program services $335,210 · management and general $47,330

  • 24e · All other expenses

    total $209,927 · program services $119,607 · management and general $90,320

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,216,557 · end of year $10,276,834

  • 2 · Savings and temporary cash investments

    beginning of year $8,922,240 · end of year $10,893,571

  • 4 · Accounts receivable

    beginning of year $32,211,945 · end of year $42,270,228

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,997,636 · end of year $1,963,919

  • 10a · Land, buildings and equipment: cost or other basis

    $32,242,883

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,481,846

  • 10c · Land, buildings and equipment, net

    beginning of year $22,710,991 · end of year $22,761,037

  • 11 · Investments: publicly traded securities

    beginning of year $71,548,644 · end of year $92,014,042

  • 12 · Investments: other securities

    beginning of year $21,794,917 · end of year $23,239,699

  • 15 · Other assets

    beginning of year $310,711 · end of year $6,527,544

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,415,232 · end of year $20,060,268

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,689,316 · end of year $15,241,825

  • 25 · Other liabilities

    beginning of year $1,181,845 · end of year $7,890,232

  • 27 · Net assets without donor restrictions

    beginning of year $134,427,248 · end of year $166,754,549

Mission and programs · 2023

Mission

MISSION: ENHANCE THE LIVES OF PEOPLE WITH DISABILITIES THROUGH EMPLOYMENT, ADVOCACY, AND PARTNERSHIPS. SEE SCHEDULE O FOR THE VISION.VISION: - THE NATION'S PREMIER NON-PROFIT OF ITS KIND, A MODEL OF BALANCING BUSINESS ACUMEN WITH SOCIAL RESPONSIBILITY. - KNOWN TO ALL PEOPLE WITH DISABILITIES AND THEIR FAMILIES AS THE MOST COMPASSIONATE AND CAPABLE SOURCE OF EMPLOYMENT AND WORKPLACE ADVOCACY IN THE COUNTRY. - KNOWN TO LOCAL, STATE, AND FEDERAL GOVERNMENT ENTITIES NATIONWIDE AS CHAMPIONS OF FAIRNESS AND THE CONSCIENCE OF FULL INCLUSION FOR THE PEOPLE WE SERVE. - KNOWN TO CUSTOMERS AND POTENTIAL CUSTOMERS AS THE PREFERRED SOURCE FOR A SUPERIOR SERVICES WORKFORCE. - LED AND STAFFED BY PASSIONATE, MISSION-FOCUSED MEMBERS OF A TEAM WHO ARE ACTIVELY PROUD OF THEIR ORGANIZATION AND COMMITTED TO TAKING CARE OF EACH OTHER WHILE IMPROVING THE LIVES OF OTHERS.

Activities or mission (Part I)

ENHANCE THE LIVES OF PEOPLE WITH DISABILITIES THROUGH EMPLOYMENT, ADVOCACY, AND PARTNERSHIPS.

  • THE ORGANIZATION CONTRACTS WITH STATE AND FEDERAL AGENCIES THROUGH SOURCEAMERICA AND WORKQUEST. THE INCOME AND JOBS FROM THESE SOURCES ARE THEN USED TO PROVIDE TRAINING, EDUCATION AND EMPLOYMENT OPPORTUNITIES TO DISABLED INDIVIDUALS.

    Expenses $157,022,695 · Grants $782,815 · Revenue $198,210,478

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CUCOLO III ANTHONY A

    PRESIDENT & CEO

    Total calculated
    $667,128
    From this org
    $572,524
    From related orgs
    $0
    Other
    $94,604
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $468,333
    Bonus
    $100,000
    Other
    $4,191
    Deferred
    $93,300
    Nontaxable benefits
    $1,304
    Filer's total
    $667,128

  • HILL JAMES TOM

    BOARD OF DIRECTOR

    Total calculated
    $27,497
    From this org
    $27,497
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • OVELAND GREG A

    BOARD OF DIRECTOR

    Total calculated
    $25,437
    From this org
    $25,437
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • THOMAS ALICIA HILL

    BOARD OF DIRECTOR

    Total calculated
    $20,673
    From this org
    $20,673
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • LUSK CRAIG

    BOARD OF DIRECTOR

    Total calculated
    $21,297
    From this org
    $21,297
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • SCHUBERT CARROLL W

    BOARD OF DIRECTOR

    Total calculated
    $32,800
    From this org
    $32,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JONES MARK K

    SR VP & CFO

    Total calculated
    $423,018
    From this org
    $343,388
    From related orgs
    $0
    Other
    $79,630
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $288,605
    Bonus
    $50,000
    Other
    $4,783
    Deferred
    $57,925
    Nontaxable benefits
    $21,705
    Filer's total
    $423,018

  • BARBOSA ERIC

    SR VP & GENERAL COUNSEL

    Total calculated
    $415,475
    From this org
    $337,063
    From related orgs
    $0
    Other
    $78,412
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $289,204
    Bonus
    $43,000
    Other
    $4,859
    Deferred
    $44,375
    Nontaxable benefits
    $34,037
    Filer's total
    $415,475

  • WALKER WILLIAM K

    SR VP OF BUSINESS DEVELOPMENT

    Total calculated
    $367,398
    From this org
    $336,066
    From related orgs
    $0
    Other
    $31,332
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $289,042
    Bonus
    $43,000
    Other
    $4,024
    Deferred
    $19,800
    Nontaxable benefits
    $11,532
    Filer's total
    $367,398

  • CLOUD MICHAEL K

    SR VP OF CORP SERVICES

    Total calculated
    $341,974
    From this org
    $277,321
    From related orgs
    $0
    Other
    $64,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,698
    Bonus
    $0
    Other
    $8,623
    Deferred
    $50,209
    Nontaxable benefits
    $14,444
    Filer's total
    $341,974

  • CANNON CHARLES C

    SR VP OF OPERATIONS

    Total calculated
    $365,986
    From this org
    $303,336
    From related orgs
    $0
    Other
    $62,650
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,875
    Bonus
    $43,000
    Other
    $3,461
    Deferred
    $51,118
    Nontaxable benefits
    $11,532
    Filer's total
    $365,986

  • FERGUSON VANESSA

    SR VP OF WORKFORCE DEVELOPMENT

    Total calculated
    $366,337
    From this org
    $289,943
    From related orgs
    $0
    Other
    $76,394
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,331
    Bonus
    $41,000
    Other
    $4,612
    Deferred
    $41,548
    Nontaxable benefits
    $34,846
    Filer's total
    $366,337

  • GREENE LUCINDIA R

    SR VP OF PEOPLE TEAM

    Total calculated
    $325,034
    From this org
    $275,966
    From related orgs
    $0
    Other
    $49,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,246
    Bonus
    $29,000
    Other
    $4,720
    Deferred
    $47,376
    Nontaxable benefits
    $1,692
    Filer's total
    $325,034

  • CLARK BLUE

    VP OF IT & FACILITIES

    Total calculated
    $286,531
    From this org
    $261,028
    From related orgs
    $0
    Other
    $25,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,514
    Bonus
    $29,566
    Other
    $3,948
    Deferred
    $875
    Nontaxable benefits
    $24,628
    Filer's total
    $286,531

  • KELLY JR JOHN

    VP OF GOVERNMENT AFFAIRS & STRATEGY

    Total calculated
    $264,137
    From this org
    $251,360
    From related orgs
    $0
    Other
    $12,777
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,605
    Bonus
    $33,750
    Other
    $1,005
    Deferred
    $2,569
    Nontaxable benefits
    $10,208
    Filer's total
    $264,137

  • CURD BARBARA

    VP OF SAFETY LOSS

    Total calculated
    $246,277
    From this org
    $220,574
    From related orgs
    $0
    Other
    $25,703
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,077
    Bonus
    $24,772
    Other
    $3,725
    Deferred
    $13,077
    Nontaxable benefits
    $12,626
    Filer's total
    $246,277

  • MILLER KURT

    DIRECTOR OF FINANCIAL COMPLIANCE

    Total calculated
    $250,368
    From this org
    $220,813
    From related orgs
    $0
    Other
    $29,555
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,587
    Bonus
    $22,896
    Other
    $330
    Deferred
    $13,277
    Nontaxable benefits
    $16,278
    Filer's total
    $250,368

  • SUMNER KYLE W

    CONTROLLER

    Total calculated
    $249,579
    From this org
    $214,209
    From related orgs
    $0
    Other
    $35,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,442
    Bonus
    $22,963
    Other
    $2,804
    Deferred
    $13,316
    Nontaxable benefits
    $22,054
    Filer's total
    $249,579

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
BOARD MEMBERS SPOUSE TRAVEL FOR ANNUAL EMPLOYEE RECOGNITION AND AWARDS CEREMONY.
PART I, LINE 4B
IN JULY 2003, THE ORGANIZATION ADOPTED A NONQUALIFIED DEFERRED COMPENSATION PLAN, UNDER IRC SECTION 457(F), COVERING CERTAIN OFFICERS. THE PLAN WAS AMENDED IN JANUARY 2011 AND STATED THAT NET EARNINGS AND LOSSES SHALL BE CREDITED TO THE RECIPIENT'S ACCOUNT FROM TIME TO TIME, AS DETERMINED BY THE ORGANIZATION. THE ORGANIZATION ACCRUED AMOUNTS ANNUALLY, AS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. TO VEST IN THE ALLOCATED AMOUNTS, THE PARTICIPANT MUST HAVE REMAINED IN CONTINUOUS SERVICE AS AN EMPLOYEE WITH THE ORGANIZATION. THE ORGANIZATION PAID, IN A SINGLE LUMP-SUM PAYMENT, AN AMOUNT EQUAL TO THE VESTED AMOUNT WITHIN 90 DAYS OF THE DATE OF VESTING. AT JULY 1, 2021 THE PLAN BECAME FULLY VESTED AND FULLY VESTED DEFERRED COMPENSATION WAS PAID OUT IN ACCORDANCE WITH THE PLAN DOCUMENT. IN DECEMBER 2021, THE ORGANIZATION ADOPTED A NONQUALIFIED DEFERRED COMPENSATION PLAN, UNDER IRC SECTION 457(F), COVERING CERTAIN OFFICERS. THE ORGANIZATION ACCRUED AMOUNTS ANNUALLY, AS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. TO VEST IN THE ALLOCATED AMOUNTS, THE PARTICIPANT MUST HAVE REMAINED IN CONTINUOUS SERVICE AS AN EMPLOYEE WITH THE ORGANIZATION. THE ORGANIZATION PAID, IN A SINGLE LUMP-SUM PAYMENT, AN AMOUNT EQUAL TO THE VESTED AMOUNT WITHIN 30 DAYS OF THE DATE OF VESTING THESE PAYMENTS ARE PAID FROM THE GENERAL ASSETS OF THE ORGANIZATION. ALTHOUGH IT IS NOT REQUIRED TO DO SO, THE ORGANIZATION MAY ELECT TO INVEST AMOUNTS IN ORDER TO MEET ITS OBLIGATIONS UNDER THIS DEFERRED COMPENSATION PLAN. COMPENSATION BENEFITS ACCRUED AND DEFERRED UNDER THE DEFERRED COMPENSATION PLAN ARE SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE SHOULD THE PARTICIPANT TERMINATE HIS OR HER RELATIONSHIP WITH THE ORGANIZATION PRIOR TO THE RESPECTIVE SCHEDULED VESTING DATE, AS DEFINED. AS OF JUNE 30, 2024 AND 2023, THE ORGANIZATION HAD ACCRUED $1,275,610 AND $889,208 IN DEFERRED COMPENSATION UNDER THE AMENDED PLAN, RESPECTIVELY. THE FOLLOWING OFFICERS PARTICIPATE IN THE 457(F) PLAN AND HAD THE FOLLOWING ACCRUALS FOR FY24: ANTHONY A. CUCOLO III - $88,694 MARK K. JONES - $51,727 ERIC BARBOSA - $48,923 WILLIAM K. WALKER - $16,805 CHARLES C. CANNON - $48,105 VANESSA FERGUSON - $44,215 MICHAEL K. CLOUD - $44,598 LUCINDA R. GREENE - $43,335

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PCSI EMPLOYEE BENEFIT TRUST

    501(C)(9) · TO PROVIDE BENEFITS FOR PCSI EMPLOYEES · TX · controlled entity

    Directly controlled by PROFESSIONAL CONTRACT SERVICES INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PCSI TEXAS LLC

    CONTRACT SERVICES · TX · income $631,656 · assets $1,231,193

    Directly controlled by PROFESSIONAL CONTRACT SERVICES INC

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202511299349303066

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