Florida Is for Veterans Inc

What it reported doing in 2024

Veterans Florida is a nonprofit corporation within the Florida department of veterans affairs created to provide veterans and their spouses with employment opportunities and to promote their hiring by the business community. Veterans Florida is governed by a nine-member board of directors with the governor, president of the senate, and speaker of the house of representatives each appointing three members. Veterans Florida is statutorily directed to administer two programs to help meet the employment needs of veterans and the business community: the veterans Florida entrepreneurship program and the veterans workforce training grant program. Veterans Florida is also required by statute to serve as the state's principal assistance organization under the u.s. Department of defense's (dod) skillbridge program for employers and servicemembers transitioning out of active-duty service. As the state's principal veterans assistance organization, veterans Florida works to increase the number of employee offerings and servicemember matches to the skillbridge program.the entrepreneurship program provides servicemembers, veterans and spouses with a comprehensive suite of training options designed to enhance their entrepreneurial abilities, giving veterans the skills to create, operate, and grow their own businesses.the workforce training grant program helps veterans translate their military experience to comparable civilian workforce requirements by providing grant funding to Florida businesses to train full-time veteran employees. The program's goal is to give veterans technical skills that are marketable, usable, and transferable. Veterans Florida reimburses Florida businesses for 50% of the incurred training costs, up to a maximum of $8,000 per veteran employee.the dod skillbridge program allows servicemembers to intern with a civilian employer in their final six months of active duty. Servicemembers may be granted up to 180 days of permissive duty to focus solely on training full time with approved industry partners that offer real-world training and in-demand work experience. The program is designed to reduce the employment gap for veterans between their military separation and civilian life. Servicemembers participating in skillbridge maintain their military compensation and benefits. This arrangement benefits industry partners by providing access to a highly skilled workforce without incurring full training costs. Florida's skillbridge initiative provides a job pipeline for transitioning servicemembers, which encourages them to relocate to the state and establish permanent residency.the veterans Florida marketing and communications campaign encourages members of the target market to remain in the state or make the state their permanent residence. The target audience is servicemembers who have 24 months or less until discharge, veterans with 36 months or less since discharge, and members of the Florida national guard or reserves.

Financial Efficiency

• Mission deployment rate: 86.1%; rating input score 86
• Program expense ratio: 85.9%; rating input score 86
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 43.5%; rating input score 44; 14th 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: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -0.2%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 0.63; rating input score 23; 23rd percentile among comparable filings
• Liabilities to assets ratio: 0.67; rating input score 14; 14th percentile among comparable filings
• Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

• Program expense growth: 10.9% per year; rating input score 100; 67th percentile among comparable filings
• Revenue growth: 11.3% per year; rating input score 100; 73rd percentile among comparable filings
• Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings