Coalfield Development Corporation

What it reported doing in 2024

Community and economic development: coalfield development trains unemployed people in modern workforce skills. Throughout the year, we facilitate dozens of learning opportunitites for community members. Our network of employers ensures our training is relevant to their needs. This waym graduates of our training can quickly find gainful employment and our local businesses can have an effective workforce with which to grow. Our most in-depth opportunity is for the personal and academic development of our crew members who staff our social enterprises. Crew members work our 33-6 -3 model where each week they complete 33 hours of paid work, 6 credit hours of higher education, and 3 hours of personal development mentorship. We make up to a three-year employment commitmentto crew members as they earn an associate degree or trade certification and gain traction on life goals. Prior to becoming a crew member, people must complete a six-month course called workforce readiness and professional success (wraps). Wraps trainees are paid for 33 hours of work and three hours of professional development each week. Instead of pursing higher education at this stage, trainees identify barries to long-term employment success an dcan spend up to four hours of their paid time each week working with our human development staff to address these issues. After six months, wraps trainees arebetter prepared to enter the workforces as a 33-6-3 crew member or to be a successful employee outside of coalfield development. It is important to help people imagine what a sustainable, diversified economy can look like and how it can function. Through our program and sector development team we are designing and scaling programs that can tangibly demonstrate what a better economy looks like. Currently, we are incubating programs in sustainable and regenerative agriculture, clean energy, deconstruction and re-use and mine land reclamation. We are also working with nonprofit partners to help build their capacity and expand their place-based workforce training programs. At the same time, we are developing a network of employers who are eager to hire our emerging workforce participants and change their own employment behaviors to be more supportive and engaged in rebuilding the appalachian economy from the ground up.

Financial Efficiency

• Mission deployment rate: 53%; rating input score 53
• Program expense ratio: 76.1%; rating input score 76
• Fundraising efficiency: $80.88 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 81.5%; rating input score 81; 17th 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: 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: 30.7%; rating input score 88; 88th percentile among comparable filings
• Total-asset coverage ratio: 2.18; rating input score 65; 65th percentile among comparable filings
• Liabilities to assets ratio: 0.34; rating input score 42; 42nd percentile among comparable filings
• Officer compensation ratio: 2.9%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: 20.7% per year; rating input score 100; 90th percentile among comparable filings
• Revenue growth: 24.1% per year; rating input score 100; 94th percentile among comparable filings
• Asset growth: 28.3% per year; rating input score 100; 95th percentile among comparable filings