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Nonprofiteer
← FEDCAP INC

Form 990 for tax year 2022

Filed by FEDCAP INC.

Totals

Total revenue
$39,407,444
Total expenses
$33,328,578
Contributions and grants received
$227,707
Grants paid
$1,722,674
Program service revenue
$39,105,172
Investment income
$44
Other revenue
$74,521
Total assets, end of year
$18,129,872
Total liabilities, end of year
$7,591,209
Net assets or fund balances, end of year
$10,538,663
Program services expenses (Part IX)
$30,361,737
Management and general expenses
$2,963,280
Fundraising expenses
$3,561
Program service expenses (Part III)
$30,361,737

Program services were 91.1% 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.

  • 1f · All other contributions, gifts and grants

    $227,707

  • 2a · Program service revenue: REHAB AND VOCATIONAL PROGRAMS

    total $39,105,172 · related or exempt $39,105,172

  • 3 · Investment income

    total $44 · excluded $44

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $74,521 · excluded $74,521

  • 11e · Other revenue, total

    $74,521

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,722,674 · program services $1,722,674

  • 5 · Compensation of officers, directors and key employees

    total $300,000 · program services $300,000

  • 7 · Other salaries and wages

    total $15,689,672 · program services $13,571,566 · management and general $2,118,106

  • 8 · Pension plan contributions

    total $1,077,449 · program services $931,993 · management and general $145,456

  • 9 · Other employee benefits

    total $1,508,301 · program services $1,304,680 · management and general $203,621

  • 10 · Payroll taxes

    total $1,475,181 · program services $1,276,032 · management and general $199,149

  • 11b · Fees: legal

    total $270,695 · program services $270,695

  • 11g · Fees: other

    total $1,257,277 · program services $1,253,716 · fundraising $3,561

  • 12 · Advertising and promotion

    total $19,364 · program services $19,364

  • 13 · Office expenses

    total $679,121 · program services $679,121

  • 14 · Information technology

    total $336,243 · program services $336,243

  • 16 · Occupancy

    total $4,085,821 · program services $4,085,821

  • 17 · Travel

    total $659,565 · program services $659,461 · management and general $104

  • 19 · Conferences, conventions and meetings

    total $44,043 · program services $44,043

  • 22 · Depreciation, depletion and amortization

    total $42,773 · program services $42,773

  • 23 · Insurance

    total $430,750 · program services $430,750

  • 24a · Other expenses: REIMBURSED EXP (FEDCAP)

    total $2,963,176 · program services $2,666,332 · management and general $296,844

  • 24b · Other expenses: SECURITY EXPENSES

    total $215,618 · program services $215,618

  • 24c · Other expenses: MAINTENANCE EXPENSES

    total $125,548 · program services $125,548

  • 24d · Other expenses: BANK FEES

    total $1,639 · program services $1,639

  • 24e · All other expenses

    total $423,668 · program services $423,668

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $90,230 · end of year $669,119

  • 4 · Accounts receivable

    beginning of year $9,114,576 · end of year $13,560,832

  • 9 · Prepaid expenses and deferred charges

    end of year $8,950

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

    $30,814

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

    $16,411

  • 10c · Land, buildings and equipment, net

    beginning of year $20,566 · end of year $14,403

  • 15 · Other assets

    beginning of year $0 · end of year $3,876,568

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,754,813 · end of year $2,245,892

  • 19 · Deferred revenue

    beginning of year $128,069

  • 25 · Other liabilities

    beginning of year $2,886,120 · end of year $5,345,317

  • 27 · Net assets without donor restrictions

    beginning of year $4,456,370 · end of year $10,437,492

  • 28 · Net assets with donor restrictions

    end of year $101,171

Mission and programs · 2022

Mission

FEDCAP, INC. MAKES HIGH OUTCOME, LIFE-CHANGING, SUSTAINABLE DIFFERENCES FOR INDIVIDUALS AND FAMILIES TO IMPROVE THEIR ECONOMIC WELL-BEING THROUGH WORK. (SEE SCHEDULE O)

Activities or mission (Part I)

WE SEEK TO IMPROVE THE ECONOMIC WELL-BEING OF INDIVIDUALS & FAMILIES IN NEED.

  • SEE SCHEDULE O

    Expenses $30,361,737 · Grants $1,722,674 · Revenue $39,105,172

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

Listed in Part VII

  • Kenneth Raisler

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Martha Sproule

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Michael Weinstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ron Torok

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christine McMahon

    PRESIDENT AND CEO

    Total calculated
    $852,042
    From this org
    $0
    From related orgs
    $700,590
    Other
    $151,452
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $700,590 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $140,535 related
    Nontaxable benefits
    $0 + $10,917 related
    Filer's total
    $0 + $852,042 related

  • Carol Khoury

    CFO

    Total calculated
    $334,066
    From this org
    $0
    From related orgs
    $325,340
    Other
    $8,726
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,340 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,375 related
    Nontaxable benefits
    $0 + $2,351 related
    Filer's total
    $0 + $334,066 related

  • Kenneth Brezenoff

    GEN COUNSEL & VP STRAT. INIT.

    Total calculated
    $260,667
    From this org
    $0
    From related orgs
    $242,410
    Other
    $18,257
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $242,410 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,442 related
    Nontaxable benefits
    $0 + $10,815 related
    Filer's total
    $0 + $260,667 related

  • Grant Collins

    PRESIDENT OF FEDCAP, INC.

    Total calculated
    $323,930
    From this org
    $260,610
    From related orgs
    $22,660
    Other
    $40,660
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $260,610 + $22,660 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $29,000 related
    Nontaxable benefits
    $0 + $11,660 related
    Filer's total
    $260,610 + $63,320 related

  • Jacqueline Kosloski

    SENIOR DIR. OF WORKFORCE DEV.

    Total calculated
    $177,837
    From this org
    $154,060
    From related orgs
    $9,826
    Other
    $13,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,060 + $9,826 related
    Bonus
    $26,000
    Other
    $0
    Deferred
    $0 + $4,608 related
    Nontaxable benefits
    $0 + $9,343 related
    Filer's total
    $154,060 + $23,777 related

  • Dennis Sze

    DIRECTOR OF FINANCIAL OPERATIONS

    Total calculated
    $191,042
    From this org
    $148,126
    From related orgs
    $11,154
    Other
    $31,762
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $148,126 + $11,154 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,101 related
    Nontaxable benefits
    $0 + $26,661 related
    Filer's total
    $148,126 + $42,916 related

  • Serena Powell

    EXECUTIVE DIRECTOR

    Total calculated
    $174,435
    From this org
    $148,090
    From related orgs
    $11,653
    Other
    $14,692
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,090 + $11,653 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,972 related
    Nontaxable benefits
    $0 + $9,720 related
    Filer's total
    $148,090 + $26,345 related

  • Kelly Washburn

    SENIOR DIR. OF WORKFORCE OPER.

    Total calculated
    $159,671
    From this org
    $134,322
    From related orgs
    $11,194
    Other
    $14,155
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,322 + $11,194 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,500 related
    Nontaxable benefits
    $0 + $9,655 related
    Filer's total
    $134,322 + $25,349 related

  • Carla Smith

    DIR. OF OFFICE ADMIN. & PERSONNEL

    Total calculated
    $150,626
    From this org
    $135,834
    From related orgs
    $11,093
    Other
    $3,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,834 + $11,093 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $2,905 related
    Nontaxable benefits
    $0 + $794 related
    Filer's total
    $135,834 + $14,792 related

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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
PRESIDENT/CEO, CHRISTINE MCMAHON PARTICIPATES IN FEDCAP'S SUPPLEMENTAL NONQUALIFIED SECTION 457(F) RETIREMENT PLAN. THE EMPLOYER CONTRIBUTION TO THE SECTION 457(F) PLAN IN CALENDAR YEAR 2022 WAS $130,000; THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.
PART I, LINE 7
FEDCAP, INC. AWARDED A PERFORMANCE BASED BONUS TO SENIOR DIRECTOR OF WORKFORCE DEVELOPMENT, JACQUELINE KOSLOSKI, FOR HER EXTRAORDINARY EFFORTS. THE BONUS WAS APPROVED BY THE BOARD OF DIRECTORS AND MEMORIALIZED IN BOARD COMMITTEE MINUTES.
PART I, LINE 3:
FOR THE FIRST TWO MONTHS OF CALENDAR YEAR 2022, SEVERAL OF THE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES RECEIVED THEIR COMPENSATION FROM A RELATED ORGANIZATION, FEDCAP REHABILITATION SERVICES, INC. FEDCAP, INC. INSTITUTED ITS OWN PAYROLL IN MARCH OF 2022 AT WHICH TIME THESE INDIVIDUALS TRANSITIONED TO THE FEDCAP, INC. PAYROLL. IN THIS TRANSITION YEAR, THESE INDIVIDUALS ARE REPORTING COMPENSATION FROM TWO DIFFERENT ORGANIZATIONS.

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

No itemized grants to organizations on this return.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FEDCAP VR LLC

    WORKFORCE DEV · NY

    Directly controlled by FEDCAP GROUP INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202402289349300540

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