Talent First INC FY2023 filing

Tax-deductible

Grand Rapids, MI501(c)(3)Community DevelopmentEIN 27-0193853

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A catalyst to ensure an ongoing supply of world class Talent in west michigan. Convene and facilitate effective collaboration with stakeholders to illuminate performance gaps, evaluate solutions, and advocate for leading practices.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$344K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $6K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$344K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
28 mo
of spending, in cash
Looks good: 28.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $38K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.9M
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+61% vs prior year
Spent
$1.7M
To programs
84%
Net assets
$185K
By yearFY2020–FY2024
Revenue
$1.7M
FY2023▲ +61%
Revenue by fiscal year
FY2020$726K
FY2021$703K
FY2022$1.1M
FY2023$1.7M
FY2024$3.2M
Expenses
$1.7M
FY2023▲ +46%
Expenses by fiscal year
FY2020$838K
FY2021$626K
FY2022$1.1M
FY2023$1.7M
FY2024$3.3M
Net assets
$185K
FY2023▲ +102%
Net assets by fiscal year
FY2020$49K
FY2021$125K
FY2022$92K
FY2023$185K
FY2024$153K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $1.4M Management & general 13% · $218K Fundraising 3% · $55K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $344K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$224,388Pt VII · Sec A
Director of Mi Center for Adult College Success
$120,070Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Kevin Stotts’s $231K as President is at the 75th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kevin Stotts$231,325$224,388$217,991$199,236$180,314
Jeremy Hendges$157,287$120,070———
Matt Demonbrun$114,628————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Talent First INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects businesses and educators to develop skilled workers for West Michigan.

Provided by the organization

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2 programs · $1.4M · in their own filed words · FY2023
01

In 2023, talent first began activities for the michigan center for adult college success to serve as the state's primary resource for research, support, and best practices on ensuring adult enrollment and completion of credentials. This initiative is funded with an appropriation by the state of michigan.

$694Kprogram expense
02

Talent first is a ceo alliance serving 13 counties in west michigan providing leadership on today's complex talent challenges. We rely on data and expertise to illuminate gaps, evaluate strategies, and advocate for solutions to attract, retain, and develop the talent west michigan employers need and to ensure all individuals and the…

$691Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$38K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$106K
Fees for servicesLn 2g$33K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.4M
Managementcol C$218K
Fundraisingcol D$55K
Owns and owesPt X
$185K
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
18
listed · VII A
PaidVII A2
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$753K
Fees for servicesLn 2g$33K
Investment incomeLn 3$106K
Other incomeLn 4–11$10
Gains on assetsLn 7$19K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$214K
SavingsLn 2$3.7M
Cash and savings togetherLn 1–2$3.9M
Land, buildings, equipmentLn 10c$47K
Other assetsLn 15$60K
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.9M
Net assetsLn 32$185K
OperationsPt I, VI
EmployeesI 56
VolunteersI 614
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$111K$3.9M
Land, buildings, equipmentLn 10c$12K$47K
Total assetsLn 16$559K$4.1M
LiabilitiesLn 26$467K$3.9M
Net assetsLn 32$92K$185K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$252K$151K$76K$25K
Other salaries and wagesLn 7$461K$414K$35K$12K
Pension plan contributionsLn 8$10K$9K$831$401
Other employee benefitsLn 9$44K$37K$4K$3K
Payroll taxesLn 10$49K$39K$7K$2K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$58K$3K$54K
Other fees for servicesLn 11g$70K$59K$11K$1K
Advertising and promotionLn 12$37K$32K$3K$2K
Office expensesLn 13$28K$24K$3K$933
Information technologyLn 14$26K$21K$4K$1K
OccupancyLn 16$69K$62K$3K$3K
TravelLn 17$18K$14K$4K
Conferences, conventions and meetingsLn 19$33K$33K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$9K$8K$454$454
InsuranceLn 23$3K$2K$817$95
Other expenses (24a–d)Ln 24$478K$472K$3K$3K
All other expensesLn 24e$5K$3K$2K$53
Total functional expensesLn 25$1.7M$1.4M$218K$55K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.2M$3.3M−$24K$153K 990 PDF
FY2023 Viewing $1.7M$1.7M$85K$185K 990 PDF
FY2022 $1.1M$1.1M−$58K$92K 990 PDF
FY2021 $703K$626K$77K$125K 990 PDF
FY2020 $726K$838K−$112K$49K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,743,577 across 9 lines filed
VIII-1b Membership dues$535,710
VIII-1e Government grants$752,529
VIII-1f All other contributions, gifts and grants$316,500
VIII-1h Total contributions, gifts and grants$1,604,739
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,209$33,209
VIII-3 Investment incomeExcluded from tax $86,694$86,694
VIII-7 Net gain or loss on sales of assetsExcluded from tax $18,925$18,925
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $10$10
VIII-12 Total revenueRelated to mission $33,209 · Unrelated business $0 · Excluded from tax $105,629$1,743,577
Part IX · Statement of functional expenses $1,658,458 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $151,131 · Management $75,566 · Fundraising $25,189$251,886
IX-7 Other salaries and wagesPrograms $413,577 · Management $35,471 · Fundraising $11,824$460,872
IX-8 Pension plan contributionsPrograms $8,702 · Management $831 · Fundraising $401$9,934
IX-9 Other employee benefitsPrograms $37,407 · Management $3,930 · Fundraising $2,541$43,878
IX-10 Payroll taxesPrograms $39,469 · Management $7,400 · Fundraising $2,467$49,336
IX-11b Legal feesManagement $4,276$4,276
IX-11c Accounting feesPrograms $3,480 · Management $54,217$57,697
IX-11g Other fees for servicesPrograms $58,661 · Management $10,565 · Fundraising $1,038$70,264
IX-12 Advertising and promotionPrograms $32,426 · Management $3,094 · Fundraising $1,950$37,470
IX-13 Office expensesPrograms $24,223 · Management $2,694 · Fundraising $933$27,850
IX-14 Information technologyPrograms $21,437 · Management $3,705 · Fundraising $1,323$26,465
IX-16 OccupancyPrograms $61,777 · Management $3,432 · Fundraising $3,432$68,641
IX-17 TravelPrograms $14,365 · Management $3,591$17,956
IX-19 Conferences, conventions and meetingsPrograms $33,494$33,494
IX-20 InterestManagement $3,616$3,616
IX-22 Depreciation, depletion and amortizationPrograms $8,166 · Management $454 · Fundraising $454$9,074
IX-23 InsurancePrograms $1,610 · Management $817 · Fundraising $95$2,522
IX-24 Other expenses (24a–d)Programs $471,918 · Management $2,924 · Fundraising $3,404$478,246
IX-24e All other expensesPrograms $3,198 · Management $1,730 · Fundraising $53$4,981
IX-25 Total functional expensesPrograms $1,385,041 · Management $218,313 · Fundraising $55,104$1,658,458
Part X · Balance sheet $4,111,145 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $110,546$213,688
X-2 Savings and temporary cash investments$3,663,614
X-3 Pledges and grants receivableStart of year $291,551$17,790
X-4 Accounts receivableStart of year $23,000$92,500
X-9 Prepaid expenses and deferred chargesStart of year $16,617$15,616
X-10c Land, buildings and equipment, netStart of year $11,663$47,495
X-15 Other assetsStart of year $105,257$60,442
X-16 Total assetsStart of year $558,634$4,111,145
X-17 Accounts payable and accrued expensesStart of year $234,990$123,961
X-19 Deferred revenue$3,614,730
X-25 Other liabilitiesStart of year $106,822$62,247
X-26 Total liabilitiesStart of year $466,812$3,925,938
X-27 Net assets without donor restrictionsStart of year $91,822$152,707
X-28 Net assets with donor restrictions$32,500
X-32 Total net assets or fund balancesStart of year $91,822$185,207
X-33 Total liabilities and net assetsStart of year $558,634$4,111,145
Part XI · Reconciliation of net assets $185,207 net assets at year end
XI-1 Total revenue$1,743,577
XI-2 Total expenses$1,658,458
XI-3 Revenue less expenses$85,119
XI-4 Net assets at start of year$91,822
XI-5 Net unrealized gains (losses) on investments$8,266
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$185,207

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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