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Nonprofiteer
← FEDCAP NYC INC

Form 990 for tax year 2024

Filed by FEDCAP NYC INC.

Totals

Total revenue
$10,921,907
Total expenses
$9,230,331
Contributions and grants received
$24,733
Grants paid
$442,892
Program service revenue
$10,897,174
Investment income
$0
Other revenue
$0
Total assets, end of year
$8,280,794
Total liabilities, end of year
$6,183,635
Net assets or fund balances, end of year
$2,097,159
Program services expenses (Part IX)
$7,384,674
Management and general expenses
$1,845,657
Fundraising expenses
$0
Program service expenses (Part III)
$7,384,674

Program services were 80.0% 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.

  • 1f · All other contributions, gifts and grants

    $24,733

  • 2a · Program service revenue: REHAB & VOCATIONAL SERVICES

    total $10,897,174 · related or exempt $10,897,174

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $442,892 · program services $442,892

  • 7 · Other salaries and wages

    total $3,997,828 · program services $3,583,201 · management and general $414,627

  • 8 · Pension plan contributions

    total $271,797 · program services $243,608 · management and general $28,189

  • 9 · Other employee benefits

    total $543,067 · program services $486,744 · management and general $56,323

  • 10 · Payroll taxes

    total $185,845 · program services $166,570 · management and general $19,275

  • 11g · Fees: other

    total $33,879 · program services $33,879

  • 12 · Advertising and promotion

    total $5,077 · program services $5,077

  • 13 · Office expenses

    total $123,202 · program services $123,202

  • 14 · Information technology

    total $19,846 · program services $19,846

  • 16 · Occupancy

    total $1,779,158 · program services $1,779,158

  • 19 · Conferences, conventions and meetings

    total $3,670 · program services $3,670

  • 22 · Depreciation, depletion and amortization

    total $6,801 · program services $6,801

  • 23 · Insurance

    total $110,521 · program services $110,521

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

    total $1,492,761 · program services $182,132 · management and general $1,310,629

  • 24b · Other expenses: SECURITY EXPENSES

    total $184,502 · program services $184,502

  • 24e · All other expenses

    total $29,485 · program services $12,871 · management and general $16,614

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $77,700 · end of year $0

  • 4 · Accounts receivable

    beginning of year $6,420,258 · end of year $4,033,852

  • 9 · Prepaid expenses and deferred charges

    end of year $284,421

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

    $36,383

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

    $32,138

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $4,245

  • 15 · Other assets

    beginning of year $0 · end of year $3,958,276

  • 17 · Accounts payable and accrued expenses

    beginning of year $520,189 · end of year $507,204

  • 25 · Other liabilities

    beginning of year $5,572,186 · end of year $5,676,431

  • 27 · Net assets without donor restrictions

    beginning of year $405,583 · end of year $2,097,159

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO PROVIDE WORKFORCE DEVELOPMENT OPPORTUNITIES FOR PEOPLE WHO FACE BARRIERS TO ECONOMIC WELL-BEING.

  • FEDCAP NYC PROVIDES A FULL RANGE OF WORKFORCE DEVELOPMENT SERVICES FROM EVALUATION AND CAREER COUNSELING THROUGH VOCATIONAL AND SOFT-SKILLS TRAINING TO JOB PLACEMENT AND POST-EMPLOYMENT SUPPORT. THESE PROGRAMS ARE FUNDED THROUGH VARIOUS COMPETITIVE-BID CONTRACTS AWARDED BY STATE AND LOCAL GOVERNMENT AGENCIES THAT ARE TARGETED TO ASSIST LOW-INCOME INDIVIDUALS WHO QUALIFY FOR PUBLIC ASSISTANCE. SOME OF THESE PROGRAMS ARE ALSO FUNDED BY PRIVATE SECTOR COMPANY CONTRACTS AWARDED THROUGH A COMPETITIVE BID PROCESS. THESE CONTRACTS ALSO ALSO ALLOW FEDCAP TO FILL JOB OPENINGS AND MEET OUTSOURCING NEEDS FOR COMPANIES WITH FEDCAP PROGRAM GRADUATES, THEREBY FULFILLING ITS MISSION TO HELP THOSE FACING BARRIERS ACHIEVE ECONOMIC INDEPENDENCE AND WELL-BEING.

    Expenses $7,384,674 · Grants $442,892 · Revenue $10,897,174

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CAROL KHOURY

    CFO OF FEDCAP & CHAIR OF FEDCAP NYC

    Total calculated
    $405,031
    From this org
    $0
    From related orgs
    $373,709
    Other
    $31,322
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $373,709 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,875 related
    Nontaxable benefits
    $0 + $2,447 related
    Filer's total
    $0 + $405,031 related

  • KENNETH S BREZENOFF

    GEN COUNSEL & VP STRAT. INIT.

    Total calculated
    $259,975
    From this org
    $0
    From related orgs
    $241,290
    Other
    $18,685
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,290 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,500 related
    Nontaxable benefits
    $0 + $11,185 related
    Filer's total
    $0 + $259,975 related

  • GRANT COLLINS

    SECRETARY

    Total calculated
    $317,708
    From this org
    $0
    From related orgs
    $296,214
    Other
    $21,494
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $296,214 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,000 related
    Nontaxable benefits
    $0 + $12,494 related
    Filer's total
    $0 + $317,708 related

  • CHRISTINE MCMAHON

    PRESIDENT & CEO OF FEDCAP

    Total calculated
    $894,189
    From this org
    $0
    From related orgs
    $742,054
    Other
    $152,135
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $742,054 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $140,350 related
    Nontaxable benefits
    $0 + $11,785 related
    Filer's total
    $0 + $894,189 related

  • GERALD MONROE

    DIRECTOR OF CAREER SERVICES

    Total calculated
    $111,969
    From this org
    $108,555
    From related orgs
    $0
    Other
    $3,414
    Hours/week
    40

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

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 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 2024 WAS $130,000. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.

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
2024
IRS schema version
2024v5.5
Source object
202632269349303068

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