Fedcap Rehabilitation Services Inc
- Assets
- $127.7m
- Revenue
- $103.3m
- Investments
- $0.0
- Employees
- 1,508
- Location
- New York, NY
- Founding
- 08/1939
- Data as of
- 09/2023
- EIN
- 13-5645879
Organization Overview
Fedcap Rehabilitation Services Inc is located in New York, NY. The organization was established in 1939. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 09/2023, Fedcap Rehabilitation Services Inc employed 1,508 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fedcap Rehabilitation Services Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Fedcap Rehabilitation Services Inc generated $103.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $97.0m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE OPPORTUNITIES FOR PEOPLE WITH BARRIERS TO ECONOMIC WELL-BEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurence Ach Co-Chair | OfficerTrustee | 1 | $0 |
Peter Panken Co-Chair | OfficerTrustee | 1 | $0 |
Nancy Settergren Treasurer | OfficerTrustee | 1 | $0 |
Janice Oursler PHD Board Member | Trustee | 1 | $0 |
Peter Aschkenasy Board Member | Trustee | 1 | $0 |
Paul Davis Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ab Facility Services Llc Ops. & Maint. Svcs | 9/29/23 | $4,306,040 |
Grant Thornton Llp Audit, Tax & Consulting Svcs. | 9/29/23 | $834,125 |
Alpha Business Solutions It Svcs. | 9/29/23 | $629,447 |
Greenberg Traurig Llp Legal Services | 9/29/23 | $395,465 |
Stronghold Systems Llc Construction | 9/29/23 | $335,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,318,262 |
| Noncash contributions included in lines 1a–1f | $168,412 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,318,262 |
| Total Program Service Revenue | $100,991,137 |
| Investment income | $242,235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $584,328 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,264,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $779,573 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $329,231 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,125,605 |
| Pension plan accruals and contributions | $7,783,636 |
| Other employee benefits | $5,393,742 |
| Payroll taxes | $5,166,203 |
| Fees for services: Management | $2,668,876 |
| Fees for services: Legal | $266,244 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $821,553 |
| Advertising and promotion | $48,268 |
| Office expenses | $5,145,321 |
| Information technology | $283,275 |
| Royalties | $0 |
| Occupancy | $4,524,653 |
| Travel | $630,151 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,710 |
| Interest | $1,320,332 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,938,572 |
| Insurance | $1,467,602 |
| All other expenses | $227,688 |
| Total functional expenses | $96,951,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $460,220 |
| Savings and temporary cash investments | $575,745 |
| Pledges and grants receivable | $269,632 |
| Accounts receivable, net | $16,706,466 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $191,159 |
| Prepaid expenses and deferred charges | $328,180 |
| Net Land, buildings, and equipment | $55,983,305 |
| Investments—publicly traded securities | $9,517,600 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,713,001 |
| Total assets | $127,745,308 |
| Accounts payable and accrued expenses | $24,122,316 |
| Grants payable | $0 |
| Deferred revenue | $25 |
| Tax-exempt bond liabilities | $14,235,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,076,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,987,000 |
| Total liabilities | $89,420,612 |
| Net assets without donor restrictions | $38,210,435 |
| Net assets with donor restrictions | $114,261 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $127,745,308 |