Work2future Foundation: FY2022 Nonprofit Profile & Form 990 (EIN 45-3156415)

Revenue by fiscal year
FY2020	$625K
FY2021	$179K
FY2022	$140K
FY2023	$193K
FY2024	$125K
FY2025	$106K

Expenses by fiscal year
FY2020	$691K
FY2021	$254K
FY2022	$150K
FY2023	$214K
FY2024	$176K
FY2025	$129K

Net assets by fiscal year
FY2020	$246K
FY2021	$171K
FY2022	$161K
FY2023	$140K
FY2024	$90K
FY2025	$67K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2011.

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

Where the money goes

70 cents of each dollar spent went to programs.

70%

30%

Program services 70% · $106K Management & general 30% · $45K

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

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Khanh Russo

Board Chair

$0Pt VII · Sec A

Nick Almeida

Director

$0Pt VII · Sec A

Tamara Alvarado

Director

$0Pt VII · Sec A

See Work2future Foundation executive salaries →

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

Provides job training and workforce development to connect people with economic opportunities.

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1 program · $106K · in their own filed words · FY2021

01

The primary activity of the foundation is to support resource and fund development for workforce and economic development, small business development, and growth and sustainability initiatives as well as serve as a catalyst and incubator of new economic and workforce models.

$106Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

Wells Fargo FoundationFY2024$100K

Cities for Financial Empowerment Fund INCFY2024$40K

Total grants receivedfrom 2 funders$140K

Grants paid · 7 grants · $628K · 2020–2024

City of San JoseFY2024$85,000

City of San JoseFY2023$97,750

Global Policy Leadership AcademyFY2023$25,000

City of San JoseFY2022$119,000

Boys and Girls Clubs of Silicon ValFY2022$40,836

City of San JoseFY2021$99,900

City of San JoseFY2020$160,250

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs

Year ending Jun 2019 · $2.5M federal money spent

Wia Youth ActivitiesDepartment of Labor · ALN 17.259 · Through California Employment Development Department$1.1M

Wia Adult ProgramDepartment of Labor · ALN 17.258 · Through California Employment Development Department$618K

Wia Dislocated Worker Formula GrantsDepartment of Labor · ALN 17.278 · Through California Employment Development Department$395K

Workforce Investment Act (wia) National Emergency Grants - Wioa FloodDepartment of Labor · ALN 17.277 · Through California Employment Development Department$215K

H-1b Job Training Grants: Ready to Work ProgramDepartment of Labor · ALN 17.268 · Through California Employment Development Department$89K

The auditor reported: doubt the group can keep going.

Year ending Jun 2018 · $3.7M federal money spent

Wia Youth ActivitiesDepartment of Labor · ALN 17.259 · Through California Employment Development Department$1.6M

Wia Adult ProgramDepartment of Labor · ALN 17.258 · Through California Employment Development Department$732K

Workforce Investment Act (wia) National Emergency GrantsDepartment of Labor · ALN 17.277 · Through Gsa_migration$617K

Wia Dislocated Worker Formula GrantsDepartment of Labor · ALN 17.278 · Through California Employment Development Department$564K

H-1b Job Training GrantsDepartment of Labor · ALN 17.268 · Through California Employment Development Department$204K

The auditor reported no findings.

Year ending Jun 2017 · $3.4M federal money spent

Wia Youth ActivitiesDepartment of Labor · ALN 17.259 · Through California Development Department$1.7M

Wia Adult ProgramDepartment of Labor · ALN 17.258 · Through California Development Department$852K

Wia Dislocated Worker Formula GrantsDepartment of Labor · ALN 17.278 · Through California Development Department$763K

H-1b Job Training GrantsDepartment of Labor · ALN 17.268 · Through California Development Department$91K

The auditor reported no findings.

Year ending Jun 2016 · $2.9M federal money spent

Wia Youth ActivitiesDepartment of Labor · ALN 17.259 · Through California Employment Development Department$1.0M

Wia Adult ProgramDepartment of Labor · ALN 17.258 · Through California Employment Development Department$955K

Wia Dislocated Worker Formula GrantsDepartment of Labor · ALN 17.278 · Through California Employment Development Department$768K

H-1b Job Training GrantsDepartment of Labor · ALN 17.268 · Through California Employment Development Department$88K

Workforce Investment Act (wia) National Emergency GrantsDepartment of Labor · ALN 17.277 · Through California Employment Development Department$56K

The auditor reported no findings.

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$140K

Ln 12

Gifts and grantsLn 1h$113K

Fees for servicesLn 2g$27K

Money outPt IX

$150K

Ln 25

Programscol B$106K

Managementcol C$45K

Owns and owesPt X

$161K

net assets · Ln 32

Cash and savingsLn 1–2$255K

Total assetsLn 16$255K

LiabilitiesLn 26$93K

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$113K

Fees for servicesLn 2g$27K

Total revenueLn 12$140K

Assets in detailPt X, end of year

CashLn 1$255K

Cash and savings togetherLn 1–2$255K

Total assetsLn 16$255K

LiabilitiesLn 26$93K

Net assetsLn 32$161K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$188K	$255K
Total assetsLn 16	$188K	$255K
LiabilitiesLn 26	$17K	$93K
Net assetsLn 32	$171K	$161K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$100K	$100K
Other fees for servicesLn 11g	$41K	$6K	$35K
InsuranceLn 23	$7K		$7K
Other expenses (24a–d)Ln 24	$2K		$2K
Total functional expensesLn 25	$150K	$106K	$45K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS May 14, 2026	$106K	$129K	−$23K	$67K	990 PDF
FY2024Filed with the IRS May 15, 2025	$125K	$176K	−$51K	$90K	990 PDF
FY2023Filed with the IRS May 15, 2024	$193K	$214K	−$21K	$140K	990 PDF
FY2022 ViewingFiled with the IRS May 15, 2023	$140K	$150K	−$10K	$161K	990 PDF
FY2021Filed with the IRS May 16, 2022	$179K	$254K	−$75K	$171K	990 PDF
FY2020Filed with the IRS May 16, 2021	$625K	$691K	−$66K	$246K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2022 990

Part I · Summary $140,255 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $170,000$112,810

I-9 Program service revenuePrior year $8,854$27,445

I-10 Investment incomePrior year $144$0

I-11 Other revenue$0

I-12 Total revenuePrior year $178,998$140,255

I-13 Grants and similar amounts paidPrior year $160,250$99,900

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $752$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $93,113$50,432

I-18 Total expensesPrior year $254,115$150,332

I-19 Revenue less expensesPrior year −$75,117−$10,077

Part VI · Governance 3 of 3 board members independent, no flags

VI-1a Voting members of the governing body3

VI-1b Independent voting members3

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $140,255 across 4 lines filed

VIII-1f All other contributions, gifts and grants$112,810

VIII-1h Total contributions, gifts and grants$112,810

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,445$27,445

VIII-12 Total revenueRelated to mission $27,445$140,255

Part IX · Statement of functional expenses $150,332 across 4 lines filed

IX-1 Grants to domestic organizationsPrograms $99,900$99,900

IX-11g Other fees for servicesPrograms $5,851 · Management $35,463$41,314

IX-23 InsuranceManagement $7,124$7,124

IX-24 Other expenses (24a–d)Management $1,994$1,994

IX-25 Total functional expensesPrograms $105,751 · Management $44,581 · Fundraising $0$150,332

Part X · Balance sheet $254,693 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $187,898$254,693

X-16 Total assetsStart of year $187,898$254,693

X-17 Accounts payable and accrued expensesStart of year $16,560$93,432

X-26 Total liabilitiesStart of year $16,560$93,432

X-27 Net assets without donor restrictionsStart of year $171,338$161,261

X-32 Total net assets or fund balancesStart of year $171,338$161,261

X-33 Total liabilities and net assetsStart of year $187,898$254,693

Part XI · Reconciliation of net assets $161,261 net assets at year end

XI-1 Total revenue$140,255

XI-2 Total expenses$150,332

XI-3 Revenue less expenses−$10,077

XI-4 Net assets at start of year$171,338

XI-10 Net assets at end of year$161,261

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Work2future Foundation FY2022 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Work2future Foundation

Funders

Grants

Federal money

By the numbers

Filing history

Schedules filed Part IV