Building Futures

What it reported doing in 2024

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 assistance to non-construction employers who wish to develop, launch, and operate registered apprenticeship training programs in other high-growth sectors.building futures' comprehensive, nationally recognized pre-apprenticeship training program (bf200) prepares adults for employment in one of many building trade apprenticeships, including electricians, carpenters, plumbers, ironworkers, painters, and laborers, among others. This 200-hour hands-on pre-apprenticeship training focuses on basic competencies needed across all construction trades. While enrolled full-time, participants receive a training allowance to ensure retention and successful program completion. Graduates earn multiple industry-recognized certifications that help ensure entry into their chosen trade. All graduates receive assistance while choosing a trade occupation and preparing for apprenticeship program interviews and entrance exams, as well as support services during their first year of apprenticeship and beyond.building futures remains the only state-registered construction pre-apprenticeship program in Rhode Island. Direct entry agreements with the ri building and construction trades council unions allow for priority entrance for our program graduates into their preferred trade. To date, 607 participants have graduated from bf200 pre-apprenticeship, including 58 in fy25. In fy25, we operated four cycles of bf200 in direct response to growing demand for training.elective trainings supplement bf200 pre-apprenticeship, further preparing graduates for success in employment. The graduate service learning ("gsl") elective allows graduates to participate in a range of hands-on, community-based projects. In fy25, trainees constructed a vulture habitat at roger williams park zoo, as well as five utility sheds that were distributed to southside community land trust, the hmong community farm in cranston, the charles street community garden, and our own tree nursery.our certified welding elective training, held three times per year, is a three-week course in industrial welding taught by an american welding society-certified instructor. These electives augment the core pre-apprenticeship in preparing graduates for entry and success in registered apprenticeships. In fy25, 46 people participated in gsl, and another 18 completed welding certification training.as of the end of fy25, 476 pre-apprenticeship graduates have entered employment, including 459 who entered construction through registered apprenticeship programs. Thirty-nine graduates entered construction registered apprenticeships in fy25 alone. Over 90% of bf200 graduates are retained in their apprenticeship after one year, and 81% complete their three-to-five-year apprenticeships. With employer and trade partners, building futures continues to refine and expand its pre-apprenticeship program and has been nationally recognized for its best practices by the u.s. Department of labor and others.recruitment, training, placement, and retention of women in the trades is part of building futures' ongoing efforts to increase the diversity and number of qualified candidates for trade apprenticeship programs. Building futures' alumnae leadership working group assists with outreach and recruitment. Building futures supports its alumnae in developing their leadership skills and working within their unions to support women's recruitment and retention efforts, including participation in the annual north america's building trades unions conference, tradeswomen build nations. Building futures sponsored 13 graduates who traveled to new orleans for the fall 2024 tradeswomen build nations conference.i

Financial Efficiency

• Mission deployment rate: 68.1%; rating input score 68
• Program expense ratio: 84.9%; rating input score 85
• Fundraising efficiency: $547.53 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 98.7%; rating input score 99; 36th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 20.6%; rating input score 77; 77th percentile among comparable filings
• Total-asset coverage ratio: 1.08; rating input score 40; 40th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 64; 64th percentile among comparable filings
• Officer compensation ratio: 15.4%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 13% per year; rating input score 100; 73rd percentile among comparable filings
• Revenue growth: 16.4% per year; rating input score 100; 84th percentile among comparable filings
• Asset growth: 29.3% per year; rating input score 100; 93rd percentile among comparable filings