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Fvo Solutions INC FY2020 filing

Pasadena, CAUnknown exempt organizationEIN 95-2375691

The mission of fvo solutions is to create jobs for people with barriers to employment.

76¢ of each $1 spent went to programs.
$192K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Is it filing on time?
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 3 years is a concern.
IRS e-file · Filing history
How much reaches the programs?
76%
of spending
Looks good: 76% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
What are leaders paid?
$192K
to officers and key staff · 13% of spending
Looks good: leaders' pay is 13% of spending; 15% or less looks good.
Pt VII · Sec A
Do they have reserves?
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more looks good.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
2
named funders · $32K
Worth a look: 2 funders name it on their filings; under 3 is worth a look.
Funders’ Sch. I, 990-PF
Do they carry debt?
$189K
liabilities
Looks good: debts are 5% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
12
independent of 12 voting board members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$1.2M
Spent
$1.5M
To programs
76%
Net assets
$3.3M
By yearFY2020–FY2020
Revenue
$1.2M
FY2020
Revenue by fiscal year
FY2020$1.2M
FY2020$154K
Expenses
$1.5M
FY2020
Expenses by fiscal year
FY2020$1.5M
FY2020$244K
Net assets
$3.3M
FY2020
Net assets by fiscal year
FY2020$3.3M
FY2020$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2020) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
No filing since FY2020 — 6 yrs
Legal name (IRS)Hdr · item CFvo Solutions INC
EINHdr · item D95-2375691
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2020 · Form 990
Principal addressHdr · item CPasadena, CA
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.fvosolutions.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.22 Fundraising $0.02
Program services76%$1.2M
Management & general22%$339K
Fundraising2%$33K
Total functional expensesLn 25$1.5M

Financial health

Is it on solid ground?

Surplus margin
-27%
revenue over expenses, this year
Program spending
76%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$3.5M
FY2020
Total assets by fiscal year
FY2020$3.5M
FY2020$0
Total liabilities
$189K
FY2020
Total liabilities by fiscal year
FY2020$189K
FY2020$0
Revenue less expensesPt I · Ln 19−$322K
Total assetsPt X · Ln 16$3.5M
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Balance Sheet

Part X · end of year
CashLn 1$809K
Total assetsLn 16$3.5M
Total liabilitiesLn 26$189K
Total net assetsLn 32$3.3M
Months of cash on handcomputed6.4

Statement of Revenue

Part VIII
Program service revenue$678K · 56%
Other revenue$401K · 33%
Contributions & grants$121K · 10%
Program service revenue56%$678K
Other revenue33%$401K
Contributions & grants10%$121K
Investment income$5K
Total revenueLn 12$1.2M

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $809K · Operating expenses/yr $1.5M
6.4 months
Where the money goes
Program services
Program services $1.2M · Total expenses $1.5M
76%
Management & General
Management & general $339K · Total expenses $1.5M
22%
Fundraising
Fundraising $33K · Total expenses $1.5M
2%
Cost to raise $1
Fundraising expense $33K · Solicited contributions $121K
$0.27 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $121K · Total revenue $1.2M
10%
Government reliance
Government grants — · Total revenue $1.2M
—
Earned-income share
Program service revenue $678K · Total revenue $1.2M
56%
Investment reliance
Investment income $5K · Total revenue $1.2M
+0.4%
Program self-sufficiency
Program service revenue $678K · Total expenses $1.5M
44%
Growth & trend
Revenue growth (YoY)
This year $1.2M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $3.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2M · Expenses $1.5M
-27%
Liabilities-to-Assets
Total liabilities — · Total assets $3.5M
—
Net-asset ratio
Net assets $3.3M · Total assets $3.5M
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rob Wahlstrom · Reported title INTERIM CEO (6/2020) · Highest reported compensation $108K · Total expenses $1.5M
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $870K · Total expenses $1.5M
57%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%——
Overhead ratio 22%——
Fundraising cost ratio 27%——
Legal fee ratio 2%——
Accounting fee ratio 6%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Rob Wahlstrom
Interim CEO (6/2020)
$108,441Pt VII · Sec A
Pietro Rosetti
CEO, (until 4/2020)
$83,958Pt VII · Sec A
Karen Mayeda
Board Member, Vice Chair
$0Pt VII · Sec A
Nathaniel Booker
Board Member, Treasurer
$0Pt VII · Sec A
Louis Teran
Board Member, Secretary
$0Pt VII · Sec A
Tom Polenzani
Board Member
$0Pt VII · Sec A
Filippo Fanara
Board Member
$0Pt VII · Sec A
Michael Wong
Board Member
$0Pt VII · Sec A
See Fvo Solutions INC executive salaries →

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Governance & Policies

Part VI
  • 12Voting board membersPt VI · Ln 1a
  • 12Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Creates jobs for people facing employment barriers.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $1.2M of program spending, described in the organization's own filed words · FY2019.
01

The supported employment program provides community-based employment opportunities, including training, counseling, job placement, and onsite job coaching, enabling adults with developmental disabilities and other challenges to become more self sufficient. The program serves an average of 52 clients.

$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 · funders on record
Grants received · FY2019
California Community FoundationFY2019$20K
David Vickter FoundationFY2019$12K
Total grants receivedfrom 2 funders$32K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2020 Viewing $1.2M$1.5M 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

Full filing: Form 990 for FY2020

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $1,526,957 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $110,150 · Management $12,461$122,611
IX-7 Other salaries and wagesPrograms $508,946 · Management $69,021$577,967
IX-8 Pension plan contributionsPrograms $11,533 · Management $3,223 · Fundraising $28$14,784
IX-9 Other employee benefitsPrograms $83,968 · Management $7,363$91,331
IX-10 Payroll taxesPrograms $56,724 · Management $6,574$63,298
IX-11a Management feesPrograms $26,954 · Management $37,172 · Fundraising $26,834$90,960
IX-11b Legal feesManagement $27,089$27,089
IX-11c Accounting feesManagement $90,744$90,744
IX-11g Other fees for servicesManagement $10,672$10,672
IX-12 Advertising and promotionManagement $126$126
IX-13 Office expensesPrograms $21,957 · Management $6,781 · Fundraising $560$29,298
IX-14 Information technologyPrograms $36,417 · Management $7,566 · Fundraising $1,795$45,778
IX-16 OccupancyPrograms $76,584 · Management $10,965 · Fundraising $1,617$89,166
IX-17 TravelPrograms $5,884 · Management $60$5,944
IX-20 InterestManagement $1,521$1,521
IX-22 Depreciation, depletion and amortizationPrograms $68,561 · Management $18,592 · Fundraising $1,307$88,460
IX-24 Other expenses (24a–d)Programs $137,440 · Management $19,296 · Fundraising $542$157,278
IX-24e All other expensesPrograms $10,408 · Management $9,483 · Fundraising $39$19,930
IX-25 Total functional expensesPrograms $1,155,526 · Management $338,709 · Fundraising $32,722$1,526,957

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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