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← PUGET SOUND OPPORTUNTIES INDUSTRIALIZATION CENTER

Form 990 for tax year 2022

Filed by PUGET SOUND OPPORTUNTIES INDUSTRIALIZATION CENTER.

Totals

Total revenue
$716,403
Total expenses
$584,457
Contributions and grants received
$709,265
Grants paid
$0
Program service revenue
$5,945
Investment income
$0
Other revenue
$1,193
Total assets, end of year
$412,346
Total liabilities, end of year
$44,938
Net assets or fund balances, end of year
$367,408
Program services expenses (Part IX)
$486,975
Management and general expenses
$97,482
Fundraising expenses
$0
Program service expenses (Part III)
$486,975

Program services were 83.3% 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)

    $679,538

  • 1f · All other contributions, gifts and grants

    $29,727

  • 2a · Program service revenue: Private Pay Training

    total $2,915 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Private contracts

    total $3,030 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $1,193 · related or exempt $1,193 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,193

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $90,000 · program services $28,800 · management and general $61,200 · fundraising $0

  • 7 · Other salaries and wages

    total $299,384 · program services $291,348 · management and general $8,036 · fundraising $0

  • 9 · Other employee benefits

    total $19,328 · program services $18,486 · management and general $842 · fundraising $0

  • 10 · Payroll taxes

    total $34,508 · program services $27,406 · management and general $7,102 · fundraising $0

  • 11a · Fees: management

    total $1,500 · program services $1,080 · management and general $420 · fundraising $0

  • 11c · Fees: accounting

    total $18,674 · program services $11,306 · management and general $7,368 · fundraising $0

  • 13 · Office expenses

    total $5,442 · program services $4,172 · management and general $1,270 · fundraising $0

  • 14 · Information technology

    total $4,266 · program services $3,752 · management and general $514 · fundraising $0

  • 16 · Occupancy

    total $72,714 · program services $68,440 · management and general $4,274 · fundraising $0

  • 17 · Travel

    total $1,365 · program services $960 · management and general $405 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $1,066 · program services $780 · management and general $286 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,369 · program services $4,079 · management and general $290 · fundraising $0

  • 23 · Insurance

    total $11,194 · program services $8,956 · management and general $2,238 · fundraising $0

  • 24a · Other expenses: Supplies

    total $5,419 · program services $4,672 · management and general $747 · fundraising $0

  • 24b · Other expenses: Dues and subscriptions

    total $3,618 · program services $2,949 · management and general $669 · fundraising $0

  • 24c · Other expenses: Equipment rental, repairs and purchases

    total $1,740 · program services $1,740 · management and general $0 · fundraising $0

  • 24d · Other expenses: Student services and empl verif

    total $2,917 · program services $2,917 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $6,953 · program services $5,132 · management and general $1,821 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $176,881 · end of year $249,296

  • 2 · Savings and temporary cash investments

    end of year $30,000

  • 4 · Accounts receivable

    beginning of year $106,269 · end of year $122,483

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,382 · end of year $3,987

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

    $135,459

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

    $129,934

  • 10c · Land, buildings and equipment, net

    beginning of year $8,416 · end of year $5,525

  • 14 · Intangible assets

    beginning of year $2,534 · end of year $1,055

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,020 · end of year $14,938

  • 19 · Deferred revenue

    end of year $30,000

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $289,462 · end of year $337,408

  • 28 · Net assets with donor restrictions

    end of year $30,000

Mission and programs · 2022

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

  • Limited English Proficiency (LEP Program) The program is funded through the Office of Refugee and Immigrant Assistance, provides newly arrived refugees and immigrants with career planning, comprehensive case management, cultural navigation, financial literacy, sustainable job placement and long-term job retention support for participants and employers. In fiscal year 2023, a total of 297 immigrants and refugees moved towards financial stability through culturally competent employment and customized job training and and 70% maintained their employment for over 90 days.

    Expenses $219,138

  • The Basic Food Employment & Training (BFET Program) provides employment and training assistance to low-income individuals receiving food benefits. The program provides on-going support to help individuals find sustainable career opportunities, including wage progression assistance and access to credentials and training opportunities in the community. In the federal fiscal year of 2022 a total of 63 low-income individuals benefited from employment support, job coaching and training.

    Expenses $122,392

  • The Digital Navigator Program provides one-on-one digital navigation services to participants which helps guide them on how to use digital devices, such as laptops, and assist participants in registering for ESL classes, applying for food assistance or any other type of economic relief resources. As well as one-on-one, this program also provided digital skills training to participants to learn how to navigate the internet and use Microsoft programs, in a classroom setting. In the federal fiscal year of 2022, 131 individuals benefited from our digital navigator program and more than 1,000 hours were spent with the participants in assisting them with digital literacy.

    Expenses $48,871

  • The Human Services program funded by the human services funds from the city of Kent, Renton, Burien and Tukwila provides low-income individuals with job training, career coaching, job placement assistance, wage progression and access to case management services. A total of 104 individuals benefited from employment support, job coaching and training. Labor and Industries and the Department of Vocational Rehabilitation. Customers receive customized skills training and receive the help and assistance they need to move towards financial stability.

    Expenses $96,574

As filed on the 2022 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

    Total calculated
    $0
    Hours/week
    1

  • Peter Gunter

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph P Drake

    CEO

    Total calculated
    $125,863
    From this org
    $125,863
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Gloria Barber

    Member

    Total calculated
    $0
    Hours/week
    0.5

  • Lidia Escoto

    Finance Manager

    Total calculated
    $14,800
    From this org
    $14,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Heidi Odom

    Member

    Total calculated
    $0
    Hours/week
    0.5

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
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202441369349311314

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