Jobs for the Future Inc

Analysis

Jobs for the Future Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 1986, 40 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Jobs for the Future Inc reported income of $107.1m and spending of $89.4m, spending 83% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $34.6m to $107.1m (+210%), an average of +33% a year. The sharpest change came in the year to September 2023, when income rose by 49%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Jobs for the Future Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Goodwill Industries of Greater New York and Northern New Jersey Inc ($106.3m), Goodwill Industries of Orange County Ca ($107.8m) and Goodwill Industries of Sacramento Valley & Northern Nevada Inc ($104.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $2.8m (3.1% of expenses). Other salaries and wages came to $36.9m. At year end it held assets of $67.2m against liabilities of $12.3m, net assets of $54.9m. It reported 451 employees.