From humble beginnings as a local agency founded by three World War 1 veterans with disabilities who simply wanted to work, The Fedcap Group has grown into a global family of top-tier agencies serving individuals with barriers to self-sufficiency, and developing scalable, innovative solutions to some of society’s most pressing needs.
On Thursday, May 12th, The Fedcap Group released its first half financial and operating results for first half FY22. The biannual releases provide key stakeholders with timely disclosures about financial and operational performance, mission-related impact, and trends and challenges. The releases are unique in the nonprofit sector and reflect The Fedcap Group’s commitment to transparency.
Key takeaways include placing 10,685 people in jobs—a nearly 100 percent increase from first half FY 2021; serving 30,000 more people in first half FY22 than in first half FY21; double-digit revenue growth reflecting a robust domestic and international service platform, and top-tier performance leading to a +99 percent win rate on re-competing for contracts. The Fedcap Group has 300 contracts in four countries, with international clients accounting for 30 percent of revenue for the period.
“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,” said Christine McMahon, CEO of The Fedcap Group. “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.”
Other highlights include the ramping up of a large, multi-year contract in the UK to provide services to the unemployed, and ongoing management of a large Canadian workforce development contract. International clients accounted for close to 30 percent of total first half revenues. The Fedcap Group leveraged its prior acquisitions of APEX Technical School and Civic Hall, and strategic partnership with Paul Smith’s College, to further expand its footprint in education and training, and planned the launch of an 80,000 sq. ft. digital training center that can train up to 3000 students per year.
A pioneer in social enterprise and vocational rehabilitation, The Fedcap Group’s commercial businesses employ 1,798 people who have a disability or barrier to employment. Total Facilities Management, The Fedcap Group’s largest commercial enterprise, added 158 new jobs in first half FY22.
The Fedcap Group’s proprietary Single Stop platform served over 25,000 new people, including 10,000 college students, connecting them to over $88 million in federal and state benefits and resources. And building on its history as a pioneer in social enterprise, The Fedcap Group announced that it employs 1,798 individuals with a disability or barrier to employment in its commercial businesses.
For the period, The Fedcap Group 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, and 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.