Harnessing the Power of Possible Gala Draws People Closer to The Fedcap Group’s Mission

The Fedcap Group’s Gala celebrated the breaking down of barriers for people who are achieving economic and social well-being.

On Monday evening, hundreds of people filled Cipriani 42nd Street for The Fedcap Group’s Annual Celebration of the Power of Possible Gala. Throughout the captivating event we considered how vision, connection, solutions and hope enable us to Harness the Power of Possible in the lives of those we serve, beginning by taking a look at some of the highlights from 2023. View our 2023 highlights video.

We reflected on the role that vision played in the establishment of the 23 companies of The Fedcap Group, applauded the remarkable community connections that support us in meeting people’s diverse and complex needs, contemplated the impact of our innovative solutions, filling gaps in the service system, and remembering the significance of instilling hope in those we serve. See our company leaders discuss The Power of Possible.

During the evening we honored Craig Newmark, founder of Craig’s List, with our first ever Power of Possible award for his remarkable contribution to Civic Hall at Union Square. Launched in fall of 2023, Civic Hall at Union Square is an 85,000-square-foot digital learning center. Learn more about Civic Hall.

Our featured community partners included The Locker Project of Maine, New York Cares, New York State Fraternal Order of Police, Martha’s Table in Washington DC, SAFE Alliance of Austin TX and the Suffolk County Sheriff’s Department of Boston – all were thanked for their tremendous collaboration and support of our mutual clients. Watch our tribute to our community partners.

We were also inspired by the courage, humor and tenacity of twin brothers Dylan and Dayton Thomas, born with an extremely rare form of muscular dystrophy, and yet both succeeding in achieving their dreams. Meet Dylan and Dayton.

We were deeply moved by the story of US Army veteran Jennifer Grubb who overcame incredibly difficult circumstances to get to where she is today, and we were filled with joy in hearing how Fernando Santiago left prison, turned his life around, and celebrates 20 years of employment with Fedcap, overseeing the facility management of Ellis Island and the Statue of Liberty. See a video about Fernando’s journey.

The extraordinary evening concluded with Broadway musician Angela Birchett and the LaGuardia High School Gospel Choir singing a rousing version of Stand Up for Something, leaving the crowed energized and inspired.

What an amazing, heartwarming celebration of the work of The Fedcap Group … making the seemingly impossible, possible!

Gala 2023 Gallery

May 31, 2023June 5, 2023

LaGuardia Community College and The Fedcap Group Announce Groundbreaking Partnership to Bring Industry-Recognized Programs to Civic Hall

Civic Hall to Officially Open this Fall to Hundreds of Students

Courses Will Include Cyber Security, Digital Marketing, and Computer and IT Network Management

NEW YORK, NY – May 31, 2023 – LaGuardia Community College and The Fedcap Group have created a pioneering partnership that will place LaGuardia Community College as the first-ever educational partner for Civic Hall in Manhattan. The two institutions signed a memorandum of understanding and agreement during a ceremony at the future home of Civic Hall at Zero Irving in the vibrant Union Square area of New York City. This partnership represents a significant milestone in fostering educational collaborations in New York City.

Starting in September and ramping up with additional programs throughout the year, LaGuardia will offer several high-demand digital and technology education programs including cyber security, computer and IT network programming, digital marketing, and basics in accounting and Microsoft Office courses. LaGuardia will begin hosting open houses and recruitment events virtually this summer to maximize accessibility to a new population of students and learners.

The initial agreement lasts for a full academic year, with a mutual expectation for a long-term collaboration to continue well beyond this period. The primary aim of this partnership is to foster a unique educational ecosystem that promotes skill-building, career development, and higher learning opportunities in the tech sector for individuals in the region.

“The Fedcap Group and LaGuardia Community College share a vision of creating innovative pathways to enhance the education and career prospects of our students,” said Kenneth Adams, President of LaGuardia Community College. “Our collaboration will open up new possibilities for students, not just at LaGuardia, but throughout New York.”

LaGuardia Community College and The Fedcap Group will work together to develop educational and upskilling pathways between LaGuardia and other training and education providers co-located at Zero Irving, including with The Fedcap Group’s Apex Technical School.

“Our partnership with LaGuardia Community College is an exciting example of things to come at Civic Hall,” said Christine McMahon, President and CEO of The Fedcap Group. “LaGuardia Community College brings world-class programs in digital skills, technology, and innovation that will put many individuals on a path to economic well-being. Not only will this partnership help individuals, but it will also fill critical tech sector workforce gaps in New York City.”

“I am delighted that LaGuardia Community College has entered a partnership with Civic Hall to enhance workforce development and job training opportunities for New Yorkers. We must ensure that all New Yorkers have access to opportunities that build skills to meet the challenges of a changing economic landscape, and I look forward to further collaboration in supporting our community through creative partnerships like this one,” said New York City Council Member Carlina Rivera (D-02).

“Civic Hall at Union Square will serve as a hub for digital-skills training offering cutting-edge innovation, collaboration and educational trainings for New Yorkers, while also building a pipeline for the sector that reflects New York City’s tech ecosystem ,” said NYCEDC President & CEO President Andrew Kimball. “The partnership between Civic Hall and LaGuardia Community College will deliver on the goals of the hub to bring in-demand skills training and development to every New Yorker, regardless of background, to find economic opportunity in the tech ecosystem. We look forward to continuing to work with our partners at Civic Hall on opening the nation’s leading skills and tech center.”

“Civic Hall at Union Square is a key resource for New York City as we look to develop the next generation of tech talent. I am excited to see this partnership with LaGuardia Community College, creating a pipeline for our students to well paying jobs in a sustainable, and growing sector,” said Manhattan Borough President Mark Levine.

Civic Hall @ Union Square in RAL’s new Zero Irving development at 124 East 14th Street will occupy 85,000 square feet on seven floors and offer flexible classrooms and convening spaces for the nation’s leading digital skills and technology job training organizations. In addition, a stunning and customizable conference and events center anchors Civic Hall for use by the whole community.

Stay tuned for more updates and details on events to be held at Civic Hall this summer.

About LaGuardia Community College

LaGuardia Community College is a Hispanic-Serving Institution, located in Long Island City, Queens that offers more than 60 continuing education programs. As an institution of the City University of New York (CUNY), the College reflects the legacy of our namesake, Fiorello H. LaGuardia, the former NYC mayor beloved for his advocacy of underserved populations. Since 1971, LaGuardia’s academic programs and support services have advanced the socioeconomic mobility of students while providing them with access to a high quality, affordable college education.

About Civic Hall

Civic Hall’s mission is to support and enable best-in-class programs that help close the digital skills divide and plan for the needs of tomorrow’s workforce. Located in the heart of the NYC tech community at Union Square, Civic Hall will be a new, 85,000-square-foot learning and training center at the new state-of-the-art Zero Irving building. Civic Hall will facilitate groundbreaking partnerships among high-impact tenants and workforce training partners to work collectively to meet the needs of all New Yorkers, especially those from communities too often left behind. For more information, visit https://civichall.org/ or email Seema Shah, Civic Hall’s Executive Director, at seema@civichall.org.

About The Fedcap Group

For 87 years, The Fedcap Group has developed scalable, innovative, and disruptive solutions to some of society’s most pressing needs. Serving 340,000 people this past fiscal year, The Fedcap Group provides educational services to every age group, vocational training and job attainment in high-growth industries, as well as support services such as behavioral health services—all targeted to helping people achieve long-term self-sufficiency. The Fedcap Group also invests its time and resources in broader system change—working in partnership with federal, state, and local government to improve the way services are designed, funded, and delivered.

For media inquiries, please contact:

Susan Walsh, 212-727-4200, (SWalsh@fedcap.org)
View the photo gallery. Contact us for high-resolution photos.

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May 11, 2023December 8, 2023

The Fedcap Group Reports First Half Fiscal Year 2023 Financial and Operating Results

The Fedcap Group Reports First Half Fiscal Year 2023 Financial and Operating Results

New York, NY—May 11, 2023—The Fedcap Group, the parent company for 23 nonprofit subsidiaries, in the United States, Canada, and the United Kingdom, released its operating and financial results for the first half of fiscal year 2023 that ended March 31, 2023.

First Half FY2023 Program and Operating Results

Commenting on the results, The Fedcap Group’s President and CEO Christine McMahon noted, “This was another period of solid growth and significant accomplishment for The Fedcap Group. We continued to execute effectively on domestic and international contracts, while winning new work, and building out our service offerings to address the substantial opportunities we see on the horizon.

“In the first half of fiscal 2023, we made considerable progress on the key objective of integrating education pathways with our workforce programs, by awarding college credit to individuals who have gained workforce and vocational certifications. During the period we leveraged our partnership with Paul Smith’s College to provide college credits to individuals graduating from our technical and workforce programs in the areas of solar technology, home digital automation, and entrepreneurship. Through the collaboration of our Education and Workforce practices, we train individuals for jobs and careers in areas of high demand that provide a roadmap to economic well-being.

“The Fedcap Group continues to be differentiated by our passion for driving program innovation and implementation above and beyond what our contracts call for. This attribute has underpinned our growth and success to date and provides us with continued opportunities for further progress in the second half of this fiscal year and beyond.”

Operating Results

The Fedcap Group provides a diversified array of services to break down barriers and create pathways to economic well-being. In the first half of the 2023 fiscal year, The Fedcap Group served just under 140,000 individuals, including those screened for state and federal benefits through our Single Stop program—a 50% increase year-over-year. To achieve this mission, The Fedcap Group operates across four key practice areas: Education, Workforce Development, Health, and Economic Development.

Education

The Education Practice continues to expand with programming that spans from early child wellness services all the way through college-level vocational and credit-bearing college education. Currently, 2,230 individuals are enrolled in our education programs across the country. Key first half FY2023 highlights were:

Workforce Development

The Workforce Practice continues to demonstrate strong growth and positive outcomes. In the first half of FY2023 we placed 12,354 individuals into jobs—an increase of 15% from the first half of FY2022, and maintained our above-average job retention results, with over 80% of those placed being retained for 180-days or more.

In addition, we launched FedcapVR Technologies—an end-to-end solutions provider to create fully immersive virtual reality simulations that will be fully integrated into our education and workforce programs, including solar and wind energy, construction, urban forestry, and welding.

Health

The Fedcap Group’s Health Practice continues to grow on the strength of our Single Stop case management and benefits program. During the first half of FY2023, 24,700 individuals were screened for federal and state benefits, and households on average received $21,000 in benefits.

In addition, The Fedcap Group continues to show strong results in health and wellness during the first half of FY2023 including:

Economic Development

In the first half of FY2023, 1,060 individuals were directly employed by a company of The Fedcap Group. Ninety-five new jobs were added in Total Facilities Management–our largest commercial enterprise. The average salary is $42,550 annually—more than 30% higher than an annual salary at a $15 minimum wage. In addition, the retirement assets of Fedcap’s direct client service workers have greatly increased from $8.4 million in 2010 to $111.2 million in 2022—demonstrating our commitment not only to sustainable wages, but also to wealth.

International Operations

Our international footprint continues to rapidly expand in Canada and the United Kingdom.
In Canada, we launched new employment services in Niagara Falls during the first half of FY2023. In the Hamilton-Niagara region we have exceeded job entry performance (100%+) deliverables while outpacing other performance targets—consistently meeting or exceeding contractual requirements.

Our UK-based Fedcap Employment is providing leading job training and placement for people displaced from the Ukraine in Scotland. To date, we have worked with 433 people and already 160 have been supported into work.

Fedcap Scotland is expanding health programs—recently being awarded funding through the Falkirk Health and Social Care Partnership for our new pilot program “Healthy Minds, Inspiring People.” This eight-week program will support 40 young people who have learning disabilities and difficulties with their mental health through building confidence, resilience, and empowering self-efficacy. Fedcap UK will also launch the United States Clubhouse model in the United Kingdom—a program designed to offer services to those people with mental health conditions, building confidence and self-efficacy.

First Half FY 2023 Financial Results

In the first half of FY2023, revenues increased 6.4%, to $186.1 million. Revenue growth reflected organic domestic and international program growth, with domestic work representing 71% of the total first half FY2023 revenue and international accounting for 29%. The Fedcap Group continues to achieve strong contract renewal rates of over 90% and has a robust business development pipeline.

At March 31, 2023, The Fedcap Group had $47.4 million in cash and investments, $255 million in total assets, and $157.1 million in long-term debt. Net assets were $50.7 million, an increase of 12.4% from first half FY2022 levels.

Outlook

“Our first half results have put us on track to serve a significantly expanded population and achieve considerable revenue growth for first half FY2023.

“We are pleased to note that The Fedcap Group received a technical assistance grant from the U.S. Treasury Department to launch a Community Development Financial Institution focused on building wealth for individuals through private sector growth and homeownership. When fully operational, the CDFI will primarily offer equity or capital investments to help people build equity through a business or through home ownership as well as technical assistance.

“The Fedcap Group’s strong operating and financial position has enabled us to greatly expand the number of individuals we serve. Over the remainder of the 2023 fiscal year, we will continue the integration and expansion of our education and workforce development platforms, while executing on our existing contracts and moving ahead with our launch of the CDFI. Capturing these growth opportunities will enable us to further our mission to achieve economic well-being for disadvantaged communities,” Ms. McMahon concluded.

About The Fedcap Group

For nearly ninety years, The Fedcap Group has developed scalable, innovative, and potentially disruptive solutions to some of society’s most pressing needs. Serving 340,000 people this past fiscal year, The Fedcap Group provides educational services to every age group, vocational training and job attainment in high-growth industries, as well as support services such as behavioral health services—all targeted to helping people achieve long-term self-sufficiency. The Fedcap Group also invests its time and resources in broader system change—working in partnership with federal, state, and local government to improve the way services are designed, funded, and delivered.

Conference Call Details

Date: Thursday, May 11, 2023, 11:00 a.m. ET
Phone: 1 (844) 792-3735
Link to Webcast: fedcapgroup.org/results2023

Contact

Susan Walsh, 212-727-4200, (SWalsh@fedcap.org)

Financials

The Fedcap Group Consolidated Statement of Financial Position

The Fedcap Group Consolidated Statement of Activities

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December 8, 2022December 16, 2022

The Fedcap Group Successfully Reports Fiscal Year 2022 Financial and Operating Results

The Fedcap Group Reports Fiscal Year 2022 Financial and Operating Results

New York, December 8—The Fedcap Group, the parent company for a growing family of top tier nonprofit agencies, today reported its operating and financial results for the fiscal year 2022 ended September 30th. The Fedcap Group is committed to providing services that positively impact the lives of people with barriers to economic well-being, through its network of 23 nonprofit subsidiaries, across the United States, Canada, and the United Kingdom.

“We delivered strong operating and financial results in FY 2022, achieving virtually all contract deliverables and posting an 8.8% year-on-year revenue increase, primarily driven by organic growth,” said Christine McMahon, President and Chief Executive Officer. “Our performance reflects excellent execution on existing contracts and demonstrates how well our expertise and qualifications are aligned with the priorities of funding agencies and the needs of the clients we serve. This past fiscal year has been an exciting period for The Fedcap Group, as we were able to achieve industry-leading outcomes for a greater number of individuals, while building out our service platforms in the U.S. and internationally, amplifying the positive impact of our programs.

“In fiscal 2022, we successfully expanded our education and workforce development training capabilities, described below, which provide critical bridges to the economic well-being of the communities we serve.”

Over 300 international participants attended the webcast, for which an audio playback is available.

2022 Operating Results

The Fedcap Group provides a diversified array of services to break down barriers and create pathways to economic well-being. These include education and workforce training programs designed to reach at-risk and underserved populations and help place them in sustainable well-paying jobs. To achieve this mission, The Fedcap Group operates across four key practice areas: education, workforce development, health, and economic development.

Education

The education practice has programming that spans from cradle to career. Over the past year, this practice has achieved significant growth in its early childhood services all the way through college-level vocational and credit-bearing education.

Post-Secondary/Higher Education

In fiscal 2022, The Fedcap Group has expanded post-secondary programming, through several key initiatives:

- - Creating Civic Hall @ Union Square, which will be operational in 2023 and which will be the largest digital skills training center in the nation. Spanning 85,000 square feet on six floors, Civic Hall will include a collaborative community space, state-of-the-art conference and events center, and a 42,000 square foot Digital Learning Center (DLC) that includes 22 classrooms to be shared among the nation’s leading technology training and job training organizations.
  - Completing the acquisition of Power52 Clean Energy Access Institute’s Solar Technician/Installation program and in so doing expanding The Fedcap Group’s capacity to deliver high-demand, well-paying green energy job training to underserved communities.
  - Strengthening our partnership with Paul Smith’s College by integrating our education programs into their curricula. Specifically, after a rigorous academic review, Paul Smith’s College will award six college credits graduates to Fedcap’s Power52 Solar Technician/Installation program as well as the new Home Automation and Industrial Automation programs at Fedcap’s post-secondary vocational school, Apex Technical School.

At Apex Technical School, we continue to train individuals and successfully place them in well-paying jobs. This past year, Apex enrolled 2,600 individuals in high demand fields such as electrical, HVAC, welding, and auto repair. A total of 1,950 completed their training program (graduation rate of 75%), and of those graduating 1,482 were placed into jobs (job placement rate of 76%). The average wage for a recent Apex graduate with no experience is approximately $41,000 per year. With some experience in the field the average wage is approximately $82,000.

Early-High School Education

Our early education programming provided through Easterseals and other programs continues to demonstrate success in assisting individuals with intellectual and developmental disabilities entering the workforce. In FY 2022 we provided services to 2,272 children ages 0-8 delivering an array of evidence-based interventions that promote long term economic and social well-being. One hundred percent of children from inclusive childcare programs entered regular kindergarten. Our special education school located in New Jersey achieved a 100% graduation rate and 100% of the graduates entered college or technical schools for the past three years.

Workforce Development

The workforce practice continues to represent the area in which The Fedcap Group serves the largest number of individuals through a broad range of services domestically and in the United Kingdom and Canada.

We have substantially increased the number of individuals we placed in well-paying, sustainable jobs. In FY 2022 we placed 24,000 people in jobs—nearly an 80% increase from FY 2021 and a 300% increase from FY 2020—a strong trend, with 29% of new job placements earning $17.00 or more per hour.

In FY 2022, we ramped up the large, multi-year contract awarded to us in the UK to provide support for those unemployed as a direct impact of the pandemic, and we continued to effectively manage our large Canadian workforce development contract. Our work for international clients accounted for approximately 30% of total FY 2022 revenues.

In order to expand workforce and education training programs, we launched a joint venture between Fedcap Inc. and UP360—a Canadian Based Virtual Reality Technology firm. Our new VR technology will enhance and expand access to programming across The Fedcap Group family of nonprofits including in workforce, education, and health.

Among our services is the Single Stop benefits screening, case management, direct services platform, which has helped connect over 87,000 individuals needing support to an average of $12,600 per household in benefits this past fiscal year. In the aggregate Single Stop facilitated access to benefits valued at $374 million during this past fiscal year.

Health

The health services practice continues to expand. In FY 2022 we provided wellness services to over 43,000 people (behavioral and physical health care, treatment for substance use disorders), with a view to helping them stabilize, and secure the skills and education required to achieve sustainable economic well-being.

Additionally, ReServe—a subsidiary of The Fedcap Group—was awarded over $10 million to support underserved neighborhoods disproportionately impacted by the COVID-19 pandemic, including creating community health vaccine education teams to promote the COVID-19 vaccination. We sponsored 352 community education events, distributed over 1,250,000 Covid materials including PPE, testing kits and health information and made 1,800 referrals for employment.

We continue to expand our services to veterans and military-aligned families. In FY 2022, 14,950 veterans and their families were positively impacted by at least one of the arrays of community services supported by Dixon Center for Military and Veterans Services.

Economic Development

Our economic development practice comprises business services operations that directly employ the populations we serve.

A total of 1,010 people are employed in our commercial businesses—the majority of whom have disabilities or other employment barriers. 156 new jobs were added in FY 2022 in Total Facilities Management—our largest commercial enterprise. The average salary is $42,550 annually.

The Fedcap Group also made significant strides in helping underserved communities that frequently lack access to capital in order to build equity for economic well-being. This year we received a $125,000 Technical Assistance grant from the federal government to assist in our launching of a Community Development Finance Institution. This is a major step forward in unlocking loans and equity to benefit communities left behind.

2022 Financial Metrics

Revenue for FY 2022 ended September 30th, 2022, was $360 million, an 8.8% increase from the same period last year. Operating expenses were $354.3 million, 88% of which represented direct program expenses. The Fedcap Group reported an operating profit of $5.3 million for the period ended September 30, 2022, consistent with the $5.4 million earned in the same period last year.

At September 30th, 2022, cash and marketable securities were $60.1 million compared with $53.9 million for the prior year.

Summary and Outlook

“The Fedcap Group remains committed to innovation, identifying new strategies to affect change in people’s lives, and improving the systems within which services are delivered,” said Christine McMahon, President and Chief Executive Officer. “The entire Fedcap organization works diligently every day to bring critical services to individuals and communities in need across our expanding geographic footprint. As we make a positive impact on society, we also are managing to the highest Environmental, Social and Governance (ESG) standards, by reducing our energy usage, maintaining a collaborative working environment, and prioritizing transparency, specifically as we provide semi-annual updates on our operating and financial results.”

About The Fedcap Group

For 87 years, The Fedcap Group has developed scalable, innovative, and potentially disruptive solutions to some of society’s most pressing needs. Serving 340,000 people this past fiscal year, The Fedcap Group provides educational services to every age group, vocational training and job attainment in high-growth industries, as well as support services such as behavioral health services—all targeted to helping people achieve long-term self-sufficiency. The Fedcap Group also invests its time and resources in broader system change—working in partnership with federal, state, and local government to improve the way services are designed, funded, and delivered.

Contact

Susan Walsh, 212-727-4200, (SWalsh@fedcap.org)

Financials

Consolidated Statement of Financial Position As of September 30

Consolidated Statement of Activities
for the periods ended September 30, 2022, and 2021

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November 30, 2022December 1, 2022

Bridging the Distance to Economic Well-Being Unites The Fedcap Group Family

Celebration of The Power of Possible Gala 2022: A Tremendous Success!

On Monday night four hundred supporters of The Fedcap Group joined in person and hundreds more virtually to celebrate the impact of our work across our international footprint.

Guests were greeted by Gala Ambassadors, graduates from The Fedcap Group’s Leadership Academy. Setting the visual stage for the evening was a footbridge created and built by students at Apex Technical School, a subsidiary of The Fedcap Group. Click here to watch video of the evening and click here to view the gala program.

“We’re a very diverse group of people, yet for all the diversity, we are united by a belief that when people are inspired to dream big, and are offered the right kind of supports at the right time, they can build a bridge—not just for survival, but building a life, a pathway to sustained economic well-being for themselves and their families.” said Christine McMahon, President and CEO of The Fedcap Group in her opening comments.

Ed Bolognini, Executive Director of ReServe and Wildcat; Martin Hanna, President of Single Stop; and Grant Collins, Sr. VP of Workforce Development set the stage—describing The Fedcap Group’s areas of practice that are leveraged to help people achieve their goals of sustainable, economic well-being.

In testimonials to The Power of Possible, Devin Silveira from Maine, and Daniel Keech from the UK, shared their stories of how their lives turned from despair to hope, from fear to confidence. Their stories reminded us all that one significant setback can set in motion a downward spiral of events that takes tremendous effort and a village of support to overcome. And they inspired us with their courage, describing how taking one step at a time toward a different future can fundamentally change a life. We are so grateful to Daniel and Devin for their willingness to share their journeys with us.

Dinner entertainment featured Max Clayton, a Broadway performer with a long list of credits including filling in for Hugh Jackman in “The Music Man,” and Ariana Reed Casasanto, a classically-trained singer who serves as The Fedcap Group’s Director of Engagement. They performed a wonderful arrangement of Bridge Over Troubled Water, and Somewhere Over the Rainbow.

Throughout the evening individuals and companies who ensure that The Fedcap Group continues its mission were honored. We remembered Dick Cattani, CEO of Restaurant Associates—a long time friend of The Fedcap Group who recently passed. We presented USI and its Chairman and CEO Mike Sicard, with our Corporate Partnership Award. USI has worked with The Fedcap Group since 2010 on our healthcare benefits and compliance oversight of our 403(b) plans for employees. “USI’s strong culture is a critical element of their success. They are committed to knowledge sharing, innovation, and continuous quality improvement,” said Nancy Settergren, a Fedcap Rehabilitation Board Member.

Mark O’Donoghue, Chairman of The Fedcap Group Board of Directors and Larry Ach, Co-Chair of the Fedcap Rehabilitation Services Board presented the Leo Mayer Award for Distinguished Service to Peter Aschkenasy. Dr. Leo Mayer was a renowned physician, beloved community member, and above all, he loved Fedcap. He dedicated 25 years of his life to the work of helping individuals with barriers live full lives. Both Mark and Larry emphasized that Peter has this same volunteer’s heart. Among the dignitaries who paid tribute to Peter were New York City Mayor Eric Adams; Congresswoman Nydia Velazquez; and Linda Johnson, CEO of Brooklyn Public Library.

As the balloons dropped and images of thousands bridging the distance to economic well-being were on the screen, we ended our celebration. Many of those who walk through our doors start life in a place that makes bridging the distance to economic well-being seem unreachable. But all of us at The Fedcap Group believe in the Power of Possible—it is not just a tag line but a way of life. And we know that, with the right support, people can achieve their dreams.

May 12, 2022December 8, 2022

First Half Fiscal Year 2022 Financial and Operating Results

The Fedcap Group Reports First Half Fiscal Year 2022 Financial and Operating Results

New York, May 12, 2022 The Fedcap Group, the parent company for a growing network of top tier nonprofit agencies, today reported its operating and financial results for the first half fiscal 2022 ended March 31, 2022. Committed to providing services that positively impact the lives of people with barriers to economic well-being, The Fedcap Group is structured in four areas of practice: Education, Workforce Development, Health, and Economic Development and operates through 21 nonprofit subsidiaries, in the U.S., Canada and the UK.

Commenting on the results, Christine McMahon, Chief Executive Officer, said, “We delivered strong operating and financial results in the fiscal 2022 first half, achieving 96% of all contract deliverables and posting a 14.4% year-on-year revenue increase, primarily driven by organic growth. This performance reflects excellent execution on existing contracts and demonstrates how well our expertise and qualifications are aligned with the needs of funding agencies and consumers.

“In the first half, we ramped up the large, multi-year contract we won in the UK to provide support for those unemployed as a direct impact of the pandemic, and we continued to effectively manage our large Canadian workforce development contract. Our work for international clients accounted for approximately 30% of total first half revenues.

“In the US, we leveraged our fiscal 2021 acquisitions of APEX Technical School and Civic Hall and our strategic partnership with Paul Smith’s College to further expand our footprint in Education and Training, areas of high demand in today’s dynamic workplace.

“Additionally, we continued to expand our proprietary Single Stop Technology Platform—a screening tool that drives resources to individuals seeking to find work and/or stay in school, augmenting our supportive services for connecting people with jobs. In the first half of FY 2022, Single Stop served 25,127 people, connecting them to over $88 million in resources.”

2022 First Half Operating Results

In the first half of FY 2022, we continued to refine our work in our five key areas of focus: Children ages 0-8, youth transitioning from foster care, individuals with intellectual and developmental disabilities, the previously incarcerated, and those on public assistance.

The Fedcap Group provides a diversified its revenue array of services to at-risk populations across four key practice areas.

Economic Development comprises business services operations that directly employ the populations we serve. A total of 1,800 people are employed in our commercial businesses—the majority of whom have disabilities or other employment barriers. 158 new jobs were added in first half FY 2022 in Total Facilities Management—our largest commercial enterprise. The average wage is approaching $40,000 annually.

Workforce Development continues to represent the area in which The Fedcap Group serves the largest number of individuals through a broad range of services, including the Single Stop platform. In the first half of FY 2022 we placed 10,685 people in jobs—nearly a 100% increase from the first half of FY 2021. 27% of new job placements earned $17.00 or more per hour.

Education represents growth in early childhood services provided through Easterseals and other programs assisting individuals with intellectual and developmental disabilities entering the workforce. We provided services to 3,123 children ages 0-8, designing and delivering an array of evidence-based practices that promote long term economic and social well-being. Our special education school located in New Jersey achieved 100% graduation rate for seniors for the past three years.

Health
In the first half of FY 2022 we provided wellness services to 23,270 people (behavioral and physical health care, treatment for substance use disorders), with a view to helping them stabilize and gain employment.

In the first half of FY2022, ReServe—a subsidiary of The Fedcap Group—was awarded over $10MM in contracts to serve New York City neighborhoods most impacted by the pandemic including funding from NYC Health and Hospitals to provide vaccine education, enrollment, and community organizing, funding from NYC Fund for Public Health expand Community Health Worker teams in neighborhoods impacted by COVID-19 and long-standing racial/ethnic inequities, and to serve as a trusted messenger campaign for Public Health Solutions to promote COVID-19 vaccination among low-income pregnant women in New York City, primarily women of color. This work has impacted the lives of over 729,606 New Yorkers.

2022 First Half Financial Metrics

The first half of fiscal year 2022 ended March 31, 2022. Revenue was $174.9MM, a 14.4% increase from the same period last year. Operating expenses were $173.3 million, 88% of which represented direct program expenses. The Fedcap Group reported an operating profit of $1.53 million for the period ended March 31, 2022, considerably above the $604 thousand earned in the same period last year.

At March 31, 2022, cash and marketable securities were $50.2 million compared with $34 million for the prior year.

Summary and Outlook

“The first half of 2022 has been an exciting period for The Fedcap Group. We were able to achieve positive outcomes for an expanded universe of individuals, while building out our service platforms in the U.S. and internationally.

“Looking ahead, we expect to see substantial benefits from our APEX and Civic Hall acquisitions and partnership with Paul Smith’s College beginning later this fiscal year, including the launch of an innovative 80,000-square-foot digital training center will address the re-skilling and up-skilling of workers, supplying a trained workforce to meet the demand of our transforming economy and job landscape. In addition, we recently developed a new training curriculum in ‘green technologies,’ which will expand our ability to educate, prepare and train at-risk individuals for employment in the high-demand areas of clean energy and renewables.

“The Fedcap Group remains committed to innovation, identifying new strategies to affect change in people’s lives, and improving the systems within which services are delivered. Our staff work diligently every day to bring critical services to individuals in need across our expanding geographic footprint. As we make a positive impact on society, we also are managing to the highest Environmental, Social and Governance (ESG) standards, by reducing our energy usage, maintaining a collaborative working environment, and prioritizing transparency, specifically as we provide semi-annual updates on our operating and financial results,” said Christine McMahon, President and Chief Executive Officer.

About The Fedcap Group

For 87 years, The Fedcap Group has developed scalable, innovative, and potentially disruptive solutions to some of society’s most pressing needs. Serving 250,000 people each year, The Fedcap Group provides educational services to every age group, vocational training in high-growth industries, behavioral health services, work readiness skill building and jobs—all targeted to helping people achieve long-term self-sufficiency.

The Fedcap Group also invests its time and resources in broader system change—working in partnership with federal, state, and local government to improve the way services are designed, funded, and delivered.

Conference Call Details

Join the webcast on Thursday, May 12, 2022 at 11:00 AM ET
If you do not wish to join from your computer, you may dial-in:
US: +1-844-792-3735
Canada: +1-855-669-9657
UK: 08002799489

Financials

Fedcap Rehabilitation Services, Inc. and Subsidiaries Consolidated Statement of Financial Position

Civic Hall and Human UPtions Announce Partnership to Host Job Fairs, Networking Sessions, and Upskilling Opportunities to Connect Job Seekers with Employment in the Tech and Innovation Sector

COOP Careers Makes Civic Hall its New York City Headquarters

Civic Hall Announces Free Summer Membership Program for College Students for Co-Working, Mentorship, Exclusive Programming, and Job Fairs

December 17, 2021February 23, 2022

The Fedcap Group Financial and Programmatic Results for FY 2021 Demonstrate Effective Implementation and Strong Financial Performance

On Thursday, December 16, The Fedcap Group reported its operating and financial results for fiscal year 2021 ended September 30, 2021. These biannual presentations provide our investors including donor and funders, supply chain and other key stakeholders with regular and timely disclosures about financial and operational performance, mission-related impact, and trends and challenges for The Fedcap Group, while underscoring our commitment to fiscal transparency. View the press release.

Highlights from a very successful year—include double digit revenue growth reflecting both organic and acquisition growth, contract awards exceeding $435 million, an expanded international footprint, and the acquisition of Civic Hall, a high profile and innovative provider of advanced technology training solutions.

Christine McMahon, CEO of The Fedcap Group, said–“Year-on-year revenue growth of 23% in fiscal 2021 was led by full year contributions from our large Canadian workforce development contract and from our FY 202 acquisition of APEX Technical School, a New York City institution having graduated over 40,000 people as plumbers, electricians and other high-demand trades. Additionally, we ramped up our substantial new contract in the UK, valued at $267 million, to provide support for people who are unemployed as a direct impact of the COVID-19 pandemic.”

Other highlights include the employment of over 1,500 people in our commercial business operations, most of whom have disabilities or other barriers; provided functional capacity assessments, employment readiness training, vocational evaluations, and wellness services to over 40,000 people; placed 13,100 people in jobs, along with follow-on job retention services, provided services to 10,000 children ages 0-8, and launched the Greenleaf Neurodiversity Community Center in Austin, Texas, an innovative public-private partnership that serves young people with autism who are transitioning to adulthood.

Looking ahead, The Fedcap Group plans to launch an innovative digital training center leveraging the assets of both Apex and Civic Hall. This 80,000-square-foot digital training center will address the re-skilling and up-skilling of workers, supplying a trained workforce to meet the demand of our transforming economy and job landscape. And to gain a higher education platform, the agency recently announced a strategic partnership with Paul Smith’s College, located in Upstate New York. The college serves approximately 1,000 students a year, over 46 percent of whom are the first in their families to attend college.

Summing up a successful year, Christine said–“I could not be prouder of The Fedcap Group leadership and staff who have worked diligently to bring our essential services to the at-risk populations we serve. This is an indication of the strong culture that unites us and enables us to continue to make a significant impact on the lives of people with barriers to economic wellbeing in 22 states and Canada, Scotland and England.”

Civic Hall and Human UPtions Announce Partnership to Host Job Fairs, Networking Sessions, and Upskilling Opportunities to Connect Job Seekers with Employment in the Tech and Innovation Sector

COOP Careers Makes Civic Hall its New York City Headquarters

Civic Hall Announces Free Summer Membership Program for College Students for Co-Working, Mentorship, Exclusive Programming, and Job Fairs

December 2, 2021November 30, 2022

Celebration of The Power of Possible Gala 2021: A Tremendous Success!

Impact Amplified, the theme of the Gala, was on bold display throughout the evening, as a series of stories and testimonials from across our global footprint celebrated the innovative work, partnerships and deep commitment to improving people’s lives that define our work.

The Fedcap Group’s 2021 Celebration of the Power of Possible Gala was a remarkable success. Impact Amplified, the theme of the Gala, was on bold display throughout the evening, as a series of stories and testimonials from across our global footprint celebrated the innovative work, partnerships and deep commitment to improving people’s lives that define our work.

Standing together to achieve the Power of Possible—it is the heart and soul of our work, and at the Gala, joined together in spirit and mission by video with our colleagues from around the globe, it resonated most deeply.

One by one, leaders from The Fedcap Group companies told stories of innovations and partnerships at the very cutting edge of service delivery. The settlement of immigrants and refugees in Maine, building networks of support for people in need in the Boston area, improving long-term economic prospects for people in Canada through innovative workforce training, the life-changing supports provided by Fedcap UK, and in Texas, filling a critical service gap by helping young people with autism transition to adulthood—these are just some of the testimonials spoken of at the Gala, and affirmed by the moving testimonials of those we serve.

Mark O’Donoghue, The Fedcap Group’s board chair, thanked the 118 board members of the 23 companies of The Fedcap Group for generously volunteering their time and talents to meet and exceed targets–whether it be in the number of people placed in jobs, children with disabilities advancing grades, young people going to college or adults completing their education.

Mark also recognized our caring and committed partners “The important work of The Fedcap Group is not possible without our partners,” he said. “This is one of the essential ways we amplify our impact, through smart, top-tier partnerships with over 10,000 business and community partners across our footprint.”

“Stand By Me,” a popular song derived from a classic spiritual, provided a rousing closing to the event, summing up perfectly one of the Gala’s central tenets—that we are better together.

Thanks to Cipriani 42nd Street in New York City for hosting this very special event. The 340+ people in the room, and hundreds more who joined us virtually, will not soon forget this inspiring affirmation of the impact of the work we do every day. Thanks also to our partners, donors, funders and friends worldwide who make our work possible. Standing together, we are stronger than ever. See you next year!

May 19, 2021May 19, 2021

The Fedcap Group Reports First Half Fiscal Year 2021 Financial and Operating Results

The Fedcap Group Reports First Half Fiscal Year 2021 Operating and Financial Results

New York, May 19, 2021 – The Fedcap Group, the parent company for a growing network of top tier nonprofit agencies, today reported its operating and financial results for the first half of fiscal year 2021. Committed to providing services that positively impact the lives of people with barriers to economic wellbeing, The Fedcap Group is structured in four areas of practice: Education, Workforce Development, Occupational Health and Economic Development and operates through 21 nonprofit subsidiaries, in the U.S., Canada and the UK.

Management Comment

“The Fedcap Group’s first half performance represented a strong start to fiscal 2021. Revenues increased 18% to $152.8MM, reflecting our growing platform of services and expanding geographic footprint. During the period, we continued to execute effectively on existing contracts and increase our impact by winning large, new awards, all while managing through the challenges of COVID-19. We also completed two important strategic acquisitions: Apex Technical School in September 2020 and Civic Hall Technology Hub at the end of March 2021. Both combinations significantly advance our ability to train and upskill individuals in the technology sector—creating a pathway to long term economic wellbeing.

“First half revenue growth was led by the ramp up of the large Canadian workforce development contract we were awarded last fiscal year, increased demand for our facility management and cleaning services during the pandemic and a 6-month contribution from the Apex acquisition. Also in the first half of 2021, we continued to refine our work in our five key areas of focus: Children ages 0-8, youth transitioning from foster care, individuals with intellectual and developmental disabilities, the previously incarcerated and those on public assistance.

“As we slowly turn the corner on the pandemic, The Fedcap Group remains committed to assisting people from across our footprint who are struggling to make ends meet, ensuring children have access to much needed educational and supportive services and helping individuals develop the skills to succeed in the changing workplace,” said Christine McMahon, President and Chief Executive Officer.

2021 Financial and Operating Metrics

Revenue for the first half of FY 2021 ending March 31, 2021 was $152.8MM, an 18% increase over the similar period last year.

The Fedcap Group provides a diversified its revenue array of services to at-risk populations across four key practice areas.

Economic Development is comprised of business services operations that directly employ the populations we serve. In the first half of fiscal year 2021 we employed over 1,700 people in these businesses, the majority of whom have disabilities or other barriers. Within this activity, the largest unit is Total Facilities Management, which provides services at many iconic sites in the U.S. and at government and commercial office buildings.
Workforce Development continues to represent the area in which The Fedcap Group serves the largest number of individuals through a broad range of services, including the Single Stop platform. In the first half of 2021, we provided functional capacity assessments, employment readiness training, vocational evaluations, and wellness services to over 21,000 people. We placed 5,900 people in jobs, along with follow-on job retention services.
Education and Occupational Health represent growing bodies of work in early childhood services provided through Easterseals and other programs assisting individuals with intellectual and developmental disabilities (I/DD) entering the workforce. We provided services to 5,325 children ages 0-8, designing and delivering an array of evidence-based practices that promote long term economic and social wellbeing. The Fedcap Group is also at the forefront of helping individuals with I/DD learn new trades and enter the workforce at competitive wages.

For the first half of Fiscal 2021 operating expenses were $152.2MM, 88% of which represented direct program expenses. The Fedcap Group reported an operating profit of $604 thousand for the period ended March 31, 2021 compared to an operating loss of $1.4MM in the same period last year.

As of March 31st, 2021, cash and marketable securities were $33.7MM compared with $15.9MM for the same period in the prior year, inclusive of $15MM that represented federal government-funded loans as part of the Payroll Protection Plan (PPP).

In October 2020, The Fedcap Group refinanced a portion of its outstanding debt. The line of credit capacity was increased to $42.5MM from $28MM to support the organization’s future growth.

Summary and Outlook

“The first half of fiscal year 2021 has been an exciting period for The Fedcap Group. Business conditions continued to improve as certain pandemic-related restrictions were eased, and we were able to achieve positive outcomes for an expanded universe of individuals in need. Additionally, we are very pleased with our acquisitions of Apex Technical School and Civic Hall, two high profile companies.

“Bringing Apex Technical School into The Fedcap Group provides tremendous opportunity to expand our efforts in creating pipelines from training to jobs. For nearly 60 years, Apex has provided educational opportunities that change lives. Each year, 1000+ individuals graduate with skills and certifications in trades with tremendous growth potential. This combination allows us to expand our ability to assist unemployed individuals develop new skills, especially in technology and compete in the changing marketplace.

“Civic Hall Technology Hub is a center for learning, collaboration, and technology for the public good. Founded in February 2015, Civic Hall has built a strong following with government, tech companies, media leaders, academic institutions, foundations, and community-based organizations that will support our training and upskilling services.

“In the first half, our Fedcap UK subsidiary successfully competed to provide support for people who have been directly impacted by the COVID-19 pandemic and have been unemployed between 12-18 months. The contract, valued at over $201,600MM over 4.5 years, was awarded to us in April, and represent important recognition of the track record we have established in gaining employment for individuals across England and Scotland, as well as in the US and Canada.

“As our economies emerge from the pandemic, we expect demand for services provided by the Fedcap Group to continue to increase. I could not be prouder of The Fedcap Group leadership and staff who have worked diligently to bring our essential services to the at-risk populations we serve within a very difficult operating environment. This is an indication of the strong culture that unites us and enables us to continue to make a significant impact in the lives of people with barriers to economic wellbeing,” noted Ms. McMahon.

About The Fedcap Group

For 86 years, The Fedcap Group has developed scalable, innovative, and potentially disruptive solutions to some of society’s most pressing needs. Serving nearly 300,000 people each year, The Fedcap Group provides educational services to every age group, vocational training in high-growth industries, behavioral health services, work readiness skill building and jobs—all targeted to helping people achieve long-term self-sufficiency.

Conference Call Details

Date: Wednesday, May 19, 2021, 11:00 a.m. ET
Link to Webcast: Fedcap.org/results

PARTICIPANT DIAL IN (TOLL FREE): 1-844-792-3735
Canada Toll Free: 1-855-669-9657
UK Toll Free: 08002799489

Financials

Fedcap Rehabilitation Services, Inc. and Subsidiaries Consolidated Statement of Financial Position

Fedcap Rehabilitation Services, Inc. and Subsidiaries Consolidated Statement of Activities

Civic Hall and Human UPtions Announce Partnership to Host Job Fairs, Networking Sessions, and Upskilling Opportunities to Connect Job Seekers with Employment in the Tech and Innovation Sector

COOP Careers Makes Civic Hall its New York City Headquarters

Civic Hall Announces Free Summer Membership Program for College Students for Co-Working, Mentorship, Exclusive Programming, and Job Fairs

December 7, 2020February 8, 2022

The Fedcap Group Power of Possible Gala: Stories that Ignite Your Spirit!

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Consolidated Statement of Activities
for the periods ended September 30, 2022, and 2021