California Competes

What it reported doing in 2024

See schedule ocalifornia competes advances equitable postsecondary opportunities and a just and inclusive economy by influencing systems-level change for underserved californians. In fy24, California competes made significant progress by pursuing a range of strategies, from promoting access and success for adult learners to aligning higher education with workforce needs, advancing a more agile and innovative higher education system, and contributing to coordinated policy development and implementation. In our work to advance college access and success for adults, we co-led the California alliance for student parent success, a statewide coalition to support students with dependent children. Through this coalition, we sponsored our first bill, the gains for student parents act (ab 2458) (and secured its passage in september 2024) to improve financial aid access for student parents and data collection practices so colleges can better identify the student parents they serve. In partnership with californiaattain!'s network of higher education institutions, we also conducted research that focused on identifying and removing barriers to re-enrollment for californians with some college but no credential, ensuring they can access educational opportunities and economic mobility. To strengthen workforce alignment, we facilitated strategic collaboration among community colleges in los angeles county and local county government officials, fostering a cross-sector culture to boost career readiness. Our efforts in promoting a more agile and innovative higher education for the state advanced through our California higher education policy institute for legislative staff and a series of events during the world's largest education technology conference. Through these activities, we provided research-based insights and created spaces for policymakers, leaders, and their staff to think critically on the key issues facing the state's higher education and workforce systems and share ideas for reform. Through events like this, we aim to contribute to informed decision-making towards reshaping systems to better serve californians. In the realm of coordinated policy setting and implementation, we advised the governor's office on strengthening structures to promote cohesive and effective policy implementation. Additionally, we played a pivotal role as lead advocate for and advisor to the California cradle-to-career data system (c2c). With California competes ceo actively serving on the c2c governing board as a legislative appointee, we've provided thought leadership to shape discussions for productive meetings and advanced c2c's development. We also improved holistic student support through the refinement of student housing policies and the launch of the public benefit finder for California students, our new user-friendly tool which helps students and their supporters find the resources to which they're entitled.

Financial Efficiency

• Mission deployment rate: 72.3%; rating input score 72
• Program expense ratio: 79.3%; rating input score 79
• Fundraising efficiency: $17.25 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • 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: 100%; rating input score 100; 72nd 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: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 9.8%; rating input score 62; 62nd percentile among comparable filings
• Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
• Officer compensation ratio: 43.2%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: 63.5% per year; rating input score 100; 98th percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 70th percentile among comparable filings
• Asset growth: 33.6% per year; rating input score 100; 94th percentile among comparable filings