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Nonprofiteer
← VOCATIONAL DEVELOPMENT FOUNDATION

Form 990 for tax year 2022

Filed by VOCATIONAL DEVELOPMENT FOUNDATION.

Totals

Total revenue
$37,427,883
Total expenses
$14,084,331
Contributions and grants received
$30,000,000
Grants paid
$13,200,000
Program service revenue
$0
Investment income
$7,238,021
Other revenue
$189,862
Total assets, end of year
$259,250,538
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$259,250,538
Program services expenses (Part IX)
$13,200,000
Management and general expenses
$884,331
Fundraising expenses
$0
Program service expenses (Part III)
$13,200,000

Program services were 93.7% 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.

  • 1f · All other contributions, gifts and grants

    $30,000,000

  • 3 · Investment income

    total $5,507,653 · excluded $5,507,653

  • 6a · Gross rents

    real property $273,127

  • 6b · Less rental expenses

    real property $83,265

  • 6c · Rental income or loss

    real property $189,862

  • 6d · Net rental income or loss

    total $189,862 · excluded $189,862

  • 7a · Gross sales of assets other than inventory

    securities $67,660,012 · other assets $573,439

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

    securities $66,503,083

  • 7c · Gain or loss

    securities $1,156,929 · other assets $573,439

  • 7d · Net gain or loss

    total $1,730,368 · excluded $1,730,368

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,200,000 · program services $13,200,000

  • 11b · Fees: legal

    total $970 · management and general $970

  • 11c · Fees: accounting

    total $15,400 · management and general $15,400

  • 11f · Fees: investment management

    total $859,070 · management and general $859,070

  • 23 · Insurance

    total $6,080 · management and general $6,080

  • 24a · Other expenses: OR DEPT JUSTICE FEES

    total $2,400 · management and general $2,400

  • 24b · Other expenses: BANK FEES

    total $411 · management and general $411

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,451 · end of year $44,218

  • 2 · Savings and temporary cash investments

    beginning of year $14,048,310 · end of year $3,122,520

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

    $4,525,418

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

    $1,246,729

  • 10c · Land, buildings and equipment, net

    beginning of year $3,361,952 · end of year $3,278,689

  • 11 · Investments: publicly traded securities

    beginning of year $261,763,552 · end of year $252,214,821

  • 15 · Other assets

    beginning of year $438,270 · end of year $590,290

  • 27 · Net assets without donor restrictions

    beginning of year $279,670,535 · end of year $259,250,538

Mission and programs · 2022

Mission

SUPPORT FOR VOCATIONAL REHABILITATION SERVICES.

  • SUPPORTING OTHER ORGANIZATIONS SERVING CHARITABLE PURPOSES THROUGH THE FOLLOWING ACTIVITIES (SEE SCHEDULE O): PROVIDING FUNDING FOR VOCATIONAL REHABILITATION SERVICES, TRAINING, EMPLOYMENT AND OPPORTUNITIES FOR PERSONAL GROWTH AS AN INTERIM STEP IN THE VOCATIONAL REHABILITATION PROCESS FOR PEOPLE WITH DISABILITIES AND THE DISADVANTAGED WHO CANNOT BE READILY ABSORBED IN THE COMPETITIVE LABOR MARKET OR DURING SUCH TIMES AS EMPLOYMENT OPPORTUNITIES FOR THEM IN THE COMPETITIVE LABOR MARKET DO NOT EXIST; AND/OR ASSISTING PEOPLE WITH DISABILITIES AND THE DISADVANTAGED TO ATTAIN THE FULLEST DEVELOPMENT OF WHICH THEY ARE CAPABLE THROUGH THE SKILLFUL USE OF RECOGNIZED TECHNIQUES OF VOCATIONAL REHABILITATION, SOCIAL WORK, LIFE GUIDANCE, EVALUATION, TRAINING, THE INSPIRATION OF RELIGION, AND/OR USEFUL EMPLOYMENT.

    Expenses $13,200,000 · Grants $13,200,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MELINDA KACAL

    TREAS/TT

    Total calculated
    $0
    Hours/week
    1

  • KARL KOCH

    SEC/TT

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL M MILLER

    PRES/TT

    Total calculated
    $0
    Hours/week
    1

  • THOMAS C YOUNG

    CHAIRMAN/TT

    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

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202341929349300524

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