Capital Workforce Partners Inc

Nonprofit profile at a glance

EIN
061013293
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hartford, CT, USA
Phone
8605221111
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$28,229,277
Expenses
$28,088,379
Assets
$7,854,333
Liabilities
$7,430,954

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • ALEX JOHNSON (PRESIDENT/CE)

Highest reported compensation

  • ALEX JOHNSON (PRESIDENT/CE): $245,355 total reported compensation
  • JAMES BOUCHER (CHIEF STRAT): $175,010 total reported compensation
  • JULIE WATSON (ACCOUNTABILI): $154,660 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A regional workforce investment board serving 37 municipalities in north central ct. The board coordinates comprehensive programs for job seeking employees.

What it reported doing in 2024

Adult services - capital workforce partners provides a host of services for adult job seekers. Services are delivered primarily at seven american job centers and one job funnel location. All locations are in the north central region of Connecticut covering 37 cities & towns. Cwp also works closely with area employers and validate and support a data driven lmi system to ensure current and future workforce demands are being addressed. Programs run from those supported by the federal workforce innovation and opportunity act. Federal usdol/eta grants and state and philanthropic supported activities which work to close the middle skills gap in our region and put job seekers on a career pathway. 14,267 individuals were served.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 64% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 92.9%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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; 66th 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: 0.5%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 92.4% of revenue deployed · 92.9% of spending went to programs
  • Governance: 28 of 28 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $26.1M in reported program spending
  • Leadership: top reported pay $245K · 32 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $487K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 30 filed money-flow records
  • Related organizations: 23 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.