Building Futures

Tax-deductible

Providence, RI501(c)(3)Since 2016EmploymentEIN 81-3939129

Building futures' mission is achieved through pre-apprenticeship training and social service supports for individuals experiencing poverty who seek careers in the building trades through registered apprenticeship; and strategies to increase employer use of apprentices on construction projects; as well as technical assistance to non-construction employers who wish to develop, launch and operate registered apprenticeship training programs in other high growth sectors.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Run by 15 volunteers and 28 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
5 of 5
filings with a surplus
Average surplus $549K a year · 16% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$552K
to officers and key staff · 13% of spending
Top officer’s pay higher than 77% of similar orgs
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $215K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$327K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.2M
-0.9% vs prior year
Spent
$4.1M
To programs
85%
Net assets
$4.1M
By yearFY2020–FY2024
Revenue
$5.2M
FY2024▼ -0.9%
Revenue by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$3.1M
FY2023$3.5M
FY2024$5.2M
FY2024$5.2M
Expenses
$4.1M
FY2024▼ -2%
Expenses by fiscal year
FY2020$2.3M
FY2021$2.6M
FY2022$2.4M
FY2023$2.9M
FY2024$4.2M
FY2024$4.1M
Net assets
$4.1M
FY2024▲ +35%
Net assets by fiscal year
FY2020$521K
FY2021$596K
FY2022$1.4M
FY2023$2.0M
FY2024$3.0M
FY2024$4.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2016.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $3.5M Management & general 15% · $611K Fundraising 0% · $9K

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

Who runs it and what they're paid

13 people listed on the 990; $552K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$175,568Pt VII · Sec A
$144,012Pt VII · Sec A
Training Director
$120,123Pt VII · Sec A
Director of Finance
$112,703Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Andrew Cortes’s $176K as President & CEO is at the 77th percentile of top reported officer pay among 1245 $1–10M employment 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 · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Andrew Cortes$175,568$150,229$143,578$136,813$127,001$121,233
Rita Holahan$144,012$124,102$119,765$97,350$93,686$88,198
Ian Chase$120,123$107,012————
Maribeth Marceau$112,703$28,130————

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 Building Futures 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 Rhode Islanders to family-sustaining careers through registered apprenticeships.

Provided by the organization

This section is blank until Building Futures claims this page.

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2 program services account for $3.5M of program spending, described in the organization's own filed words · FY2024.
01

Building futures -building futures' mission is achieved through pre-apprenticeship training and social service supports for individuals experiencing poverty who seek careers in the building trades through registered apprenticeship; strategies to increase employer demand for apprentices on construction projects; as well as technical…

$2.3Mprogram expense
02

Apprenticeship ri initiative -apprenticeship rhode island (ari), an initiative in partnership with the ri DLT, is an effort to expand registered apprenticeship in high-growth, non-construction occupations and industries.

$1.2Mprogram expense

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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
Total grants receivedfrom 2 funders$215K
Grants paid · 43 grants · $2.1M · 2019–2024
Ftisne INCCT · FY2024$65,937
Ubc & Ja Local 330RI · FY2024$46,298
Ibew Local 99 JatcRI · FY2024$17,537
University of Rhode IslandFY2024$7,384
University of Rhode IslandFY2023$49,642
Vantage Point INCFY2022$7,448
See all 43 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.2M
Ln 12
Gifts and grantsLn 1h$5.1M
Investment incomeLn 3$109K
Other incomeLn 4–11$13K
Money outPt IX
$4.1M
Ln 25
Programscol B$3.5M
Managementcol C$611K
Fundraisingcol D$9K
Owns and owesPt X
$4.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$4.4M
LiabilitiesLn 26$327K
PeoplePt VI, VII
13
listed · VII A
PaidVII A4
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.1M
Government grantsLn 1e$3.2M
Investment incomeLn 3$109K
Other incomeLn 4–11$13K
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
CashLn 1$204K
SavingsLn 2$3.3M
Cash and savings togetherLn 1–2$3.5M
Land, buildings, equipmentLn 10c$236K
Other assetsLn 15$26K
Total assetsLn 16$4.4M
LiabilitiesLn 26$327K
Net assetsLn 32$4.1M
OperationsPt I, VI
EmployeesI 528
VolunteersI 615
Fiscal year endsHeaderDecember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$2.3M$3.5M
Land, buildings, equipmentLn 10c$121K$236K
Total assetsLn 16$3.3M$4.4M
LiabilitiesLn 26$272K$327K
Net assetsLn 32$3.0M$4.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$354K$354K
Pay of current officers, directors and key staffLn 5$496K$298K$196K$2K
Other salaries and wagesLn 7$1.6M$1.4M$169K$1K
Pension plan contributionsLn 8$59K$58K$1K$56
Other employee benefitsLn 9$222K$207K$15K$62
Payroll taxesLn 10$193K$163K$30K$394
Accounting feesLn 11c$33K$33K
Other fees for servicesLn 11g$481K$422K$59K
Office expensesLn 13$81K$47K$30K$3K
Information technologyLn 14$66K$18K$48K$2
OccupancyLn 16$103K$92K$11K$27
TravelLn 17$21K$21K
Conferences, conventions and meetingsLn 19$16K$16K$25
Depreciation, depletion and amortizationLn 22$51K$47K$4K$13
InsuranceLn 23$30K$20K$10K$1
Other expenses (24a–d)Ln 24$296K$288K$5K$3K
All other expensesLn 24e$868$868
Total functional expensesLn 25$4.1M$3.5M$611K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.2M$4.2M$1.0M$3.0M 990 PDF
FY2023 $3.5M$2.9M$653K$2.0M 990 PDF
FY2022 $3.1M$2.4M$756K$1.4M 990 PDF
FY2021 $2.7M$2.6M$75K$596K 990 PDF
FY2020 $2.5M$2.3M$222K$521K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $5,174,271 across 7 lines filed
VIII-1a Federated campaigns$100,000
VIII-1e Government grants$3,218,425
VIII-1f All other contributions, gifts and grants$1,734,735
VIII-1h Total contributions, gifts and grants$5,053,160
VIII-3 Investment incomeExcluded from tax $108,558$108,558
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $12,553$12,553
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $121,111$5,174,271
Part IX · Statement of functional expenses $4,109,450 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $354,457$354,457
IX-5 Pay of current officers, directors and key staffPrograms $298,247 · Management $195,925 · Fundraising $1,852$496,024
IX-7 Other salaries and wagesPrograms $1,436,584 · Management $169,024 · Fundraising $1,059$1,606,667
IX-8 Pension plan contributionsPrograms $57,678 · Management $1,190 · Fundraising $56$58,924
IX-9 Other employee benefitsPrograms $206,764 · Management $14,774 · Fundraising $62$221,600
IX-10 Payroll taxesPrograms $162,850 · Management $29,961 · Fundraising $394$193,205
IX-11c Accounting feesManagement $32,519$32,519
IX-11g Other fees for servicesPrograms $421,803 · Management $59,158$480,961
IX-13 Office expensesPrograms $47,425 · Management $30,033 · Fundraising $3,260$80,718
IX-14 Information technologyPrograms $18,313 · Management $47,944 · Fundraising $2$66,259
IX-16 OccupancyPrograms $92,044 · Management $11,213 · Fundraising $27$103,284
IX-17 TravelPrograms $21,104$21,104
IX-19 Conferences, conventions and meetingsPrograms $16,370 · Management $25$16,395
IX-22 Depreciation, depletion and amortizationPrograms $46,813 · Management $4,204 · Fundraising $13$51,030
IX-23 InsurancePrograms $19,546 · Management $10,004 · Fundraising $1$29,551
IX-24 Other expenses (24a–d)Programs $288,201 · Management $5,180 · Fundraising $2,503$295,884
IX-24e All other expensesPrograms $868$868
IX-25 Total functional expensesPrograms $3,489,067 · Management $611,154 · Fundraising $9,229$4,109,450
Part X · Balance sheet $4,434,992 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $143,277$204,443
X-2 Savings and temporary cash investmentsStart of year $2,153,957$3,317,995
X-3 Pledges and grants receivableStart of year $766,457$610,127
X-9 Prepaid expenses and deferred chargesStart of year $36,205$41,019
X-10c Land, buildings and equipment, netStart of year $121,327$235,550
X-15 Other assetsStart of year $94,103$25,858
X-16 Total assetsStart of year $3,315,326$4,434,992
X-17 Accounts payable and accrued expensesStart of year $179,324$304,433
X-25 Other liabilitiesStart of year $92,551$22,287
X-26 Total liabilitiesStart of year $271,875$326,720
X-27 Net assets without donor restrictionsStart of year $705,507$1,120,948
X-28 Net assets with donor restrictionsStart of year $2,337,944$2,987,324
X-32 Total net assets or fund balancesStart of year $3,043,451$4,108,272
X-33 Total liabilities and net assetsStart of year $3,315,326$4,434,992
Part XI · Reconciliation of net assets $4,108,272 net assets at year end
XI-1 Total revenue$5,174,271
XI-2 Total expenses$4,109,450
XI-3 Revenue less expenses$1,064,821
XI-4 Net assets at start of year$3,043,451
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,108,272

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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