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The Fedcap Group Statement on the Proposed Combination with Paul Smith’s College

The Fedcap Group Statement on the Proposed Combination with Paul Smith’s College

New York, May 19 – Statement by Susan Walsh, Spokesperson for The Fedcap Group, on the Proposed Combination with Paul Smith’s College


“The Fedcap Group is deeply committed to the future success of Paul Smith’s College. Its unique programming, campus experience, and importance to the community are unmatched in the region. Like many small private colleges and universities over the last decade, Paul Smith’s has had challenges, but working together and doing the transformative work now, we believe they have a strong path forward.

In 2019, we were introduced to Paul Smith’s College to help them secure that future and leverage our decades of experience working with educational/workforce programs and not-for-profits to help turn things around. With our support, PSC has resolved many of the challenges and issues they were facing, including operational issues, such as the recent cyberattack; leveraging assets and expertise to increase philanthropic giving and expand external grants; and creating new enrollment pipelines from our other education and workforce programs, like a new culinary extension site in New York City. We are confident that our partnership can only make the institution stronger—while protecting the College’s identity and core academic programs, things often lost during a typical merger of two educational institutions. In other words, our combination can mean Paul Smith’s College is here to stay.

Many have asked, ‘what’s in it for Fedcap?’ As a charitable organization dedicated to breaking down barriers to economic well-being for the disadvantaged, the proposed combination advances Fedcap’s important mission because it opens doors to new educational opportunities for the people we serve.

PSC has presented a responsible and thoughtful plan to state regulators and we hope they approve our acquisition as soon as possible so the team at Paul Smith’s can focus on doing what they do best—providing a one-of-a-kind educational and career training experience in the Adirondacks.”

Contact:
Susan Walsh
The Fedcap Group
212-727-4200
swalsh@fedcap.org

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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

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

  • Revenue Increase of 6.4% to $186.1 Million Reflected Solid Organic Growth of Domestic and International Programs.
  • Served Nearly 140,000 Individuals in First Half of FY2023—a 50% Year-on-Year Increase.
  • Placed 12,354 Individuals into Jobs—a 15% Increase; Growth Led by Expansion and Integration of Education and Workforce Programs.
  • Received Technical Assistance Grant from the U.S. Treasury Department to Launch a Community Development Financial Institution.

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:

  • Establishment of the Apex Clean Energy Institute, piloting a solar technician program, which led to more than 50% of our graduates receiving an average wage of more than $50,000 annually.
  • Launching the Paul Smith’s College culinary certificate program in New York City and connecting it to a Summer in Saranac residency at the college.

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:

  • Providing 15,415 people wellness services in health and behavioral health treatment–enabling individuals to stabilize and obtain and retain employment.
  • Assisting 5,000 veterans and their families to access an array of wellness, educational, and employment services from the Dixon Center for Military and Veterans Services and other companies of The Fedcap Group.

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

View the Presentation
Read the Transcript

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Easterseals New York Preschool Promotes Autism Awareness and Acceptance

Easterseals New York Preschool Promotes Autism Awareness and Acceptance

For Autism Awareness Month, East Tremont School Parents, Teachers, and Clinicians Walk for Support of Autism Acceptance

Teachers, clinicians, and family members led students on a short walk along the block of the Easterseals New York Bronx Child Development Center on East Tremont Avenue in The Bronx, on a sunny Friday afternoon to raise awareness and support of autism acceptance.

“The mission of Easterseals New York is to provide exceptional services to ensure that all people with disabilities or special needs and their families have equal opportunities to live, learn, work and play in their communities,” Tenay Alston, the school’s director, explained. “This is our goal for our students: to promote their autonomy, encourage their exploration and celebrate each of their milestones.”

Learn more about the program and how to obtain an evaluation for your child on the Easterseals New York website.

 

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Here Comes the Sun

Here Comes the Sun

How The Fedcap Group is Breaking Down Barriers to the Clean Energy Workforce
With Our Solar Technician Program

April 3, 2023

This past fall, The Fedcap Group launched the Apex Clean Energy Institute—a transformative new program to train and connect individuals to high-demand, well-paying jobs in the growing green energy sector. The first location was at one of our affiliates, Community Work Services, in Boston. The Clean Energy Institute’s first class was a pilot consisting of 15 returning citizens—i.e., formerly incarcerated individuals.

At The Fedcap Group we’re focused on breaking down barriers to economic well-being and a way to meet our mission is to focus on high-growth, high demand workforce sectors. That’s why we launched a 450-hour solar technician program—a program spearheaded by our head of clean energy, Robert Wallace—as the first training at the Apex Clean Energy Institute. “Employment of solar photovoltaic installers is projected to grow 27 percent from 2021 to 2031, much faster than the average for all occupations,” according to a recent federal Bureau of Labor Statistics report.

At the Apex Clean Energy Institute’s December kickoff, there were high-hopes and great enthusiasm for the program to give second chances in profound and meaningful ways. One incoming student said, “That was one of the things that appealed to me about clean energy. The first thing was gainful, sustainable employment—a paycheck … The second thing was I committed some harms—a lot of harm when I was younger … now it is my mission to repair some of those harms. So, reparation in action is important for me.”

As Massachusetts Senate President Pro Tempore, William N. Brownsberger said at the kickoff event, programs like our new solar technician training program are key to helping returning citizens because, “For most people coming out of prison is not so much that they have a record; it’s that they don’t have a record” or a resume with job training and an employment history.

We’re creating that positive track record. Not only does our new solar technician program provide essential skills development in the clean energy sector, it also requires other fundamentals such as financial literacy and successfully finding and interviewing for a job—so graduates are fully prepared to be successful in their careers. In addition, part of The Fedcap Group’s work is to create pathways to constant upskilling opportunities and life-long learning. Working with our partners at Paul Smith’s College—a national leader on sustainability, green energy, and climate change—graduates of our 450-hour solar technician program will receive six college credits to help with future certifications and degrees for further career advancement.

The first cohort has recently finished and the preliminary results are promising. Of the 15 students who entered our inaugural program, 12 (or 80%) have completed the program. And for the three individuals who have yet to complete the program, our team is working with them to finish in the next incoming class.

Of the 12 who completed the program, four have already been offered well-paying, sustainable jobs—with an average salary of $54,000 annually. To put that in perspective, that’s more than 70% higher than the annual minimum wage salary in Boston! The remaining 7 students are currently in the process of obtaining jobs in the solar energy field and on their way to gainful employment in a high-demand field.

Whether it’s getting that first real opportunity or receiving a second chance (like our first cohort of the Apex Clean Energy Institute in Boston did), The Fedcap Group will continue its tireless work to give every individual a shot at economic well-being. The program is off to an encouraging start and we’re planning additional sites so others, like our first class in Boston, may also have a brighter future.

Ahí Viene el Sol

Cómo The Fedcap Group está Derribando Barreras de la Fuerza Laboral de Energía Limpia con Nuestro Programa de Técnicos Solares

3 abril 2023

El otoño pasado, The Fedcap Group lanzó el “Apex Clean Energy Institute”, un nuevo programa transformador para capacitar y conectar a las personas con empleos de alta demanda y bien remunerados en el creciente sector de la energía verde. El primer lugar fue en uno de nuestros afiliados, “Community Work Services”, en Boston. La primera clase piloto del “Clean Energy Institute” fue compuesta por 15 estudiantes que regresaban, es decir, personas anteriormente encarceladas.

En The Fedcap Group estamos enfocados en derribar barreras para el bienestar económico y una forma de cumplir con nuestra misión es enfocarnos en sectores de personal tanto de alto crecimiento como de alta demanda. Es por eso que lanzamos un programa de técnicos solares de 450 horas, un programa dirigido por nuestro jefe de energía limpia, Robert Wallace, como la primera capacitación en el “Apex Clean Energy Institute”. “Se proyecta que el empleo de instaladores solares fotovoltaicos aumentará un 27 por ciento de 2021 a 2031, mucho más rápido que el promedio de todas las otras profesiones”, según un reciente informe del “Federal Bureau of Labor Statistics”.

En el comienzo de diciembre del “Apex Clean Energy Institute”, había tanto grandes esperanzas como un gran entusiasmo por el programa para darles segundas oportunidades de manera profunda y significativa. Un nuevo estudiante dijo: “Esa fue una de las cosas que me atrajo de la energía limpia. La primera cosa fue el empleo remunerado y sostenible, en otras palabras, un cheque de pago… La segunda fue que cometí algunos daños, mucho perjuicio cuando era más joven … Ahora es mi misión reparar algunos de esos daños. Por lo tanto, la reparación en acción es importante para mí”.

Como dijo William N. Brownsberger el presidente Interino del Senado de Massachusetts en el evento de lanzamiento; programas como nuestro nuevo programa de capacitación de técnicos solares es clave para ayudar a los ciudadanos que regresan porque, “Para la mayoría de las personas que salen de prisión no es tanto que tengan un historial; sino es que no tienen uno” o así como no tienen un currículum con capacitación laboral o, un historial de empleo.

Estamos creando estos antecedentes positivos. Nuestro nuevo programa de técnicos solares no solo proporciona el desarrollo de habilidades esenciales en el sector de la energía limpia, sino que también requiere otros principios básicos; como la educación financiera y la búsqueda  así como entrevistas exitosas para un trabajo, es por eso que los graduados están completamente preparados para tener éxito en sus carreras. Además, parte del trabajo del Fedcap Group es crear caminos hacia oportunidades constantes tanto de mejora de habilidades como de aprendizaje permanente. Trabajando con nuestros socios de “Paul Smith’s College”, que es un líder nacional en sostenibilidad, energía verde y cambio climático; los graduados de nuestro programa de 450 horas de técnicos solares recibirán seis créditos universitarios para ayudar con futuras acreditaciones y títulos para un mayor avance profesional.

El primer grupo lo ha terminado recientemente y los resultados preliminares son prometedores. De los 15 estudiantes que ingresaron a nuestro programa inaugural, 12 (o el 80%) han completado el programa. Y para los tres estudiantes que aún no han completado el programa, nuestro equipo está trabajando con ellos para terminar en la próxima clase entrante.

De los 12 que completaron el programa, a cuatro ya se les han ofrecido empleos bien remunerados y sostenibles, con un salario promedio de $ 54,000 anuales. Para poner eso en perspectiva, ¡eso es más del 70% superior al salario mínimo anual en Boston! Los 7 estudiantes restantes están actualmente en el proceso de obtener empleos en el ámbito de la energía solar y en camino a un empleo remunerado en un campo de alta demanda.

Ya sea que estés obteniendo esa verdadera primera oportunidad o recibiendo una segunda (como lo hizo nuestro primer grupo del “Apex Clean Energy Institute” en Boston), The Fedcap Group continuará su incansable trabajo para dar a cada individuo una oportunidad de bienestar económico. El programa ha tenido un comienzo alentador y estamos planeando sitiosadicionales para que otros, como nuestra primera clase en Boston, también puedan tener un futuro más brillante.

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Route Back to Work Can be a Bumpy Ride – Op-Ed by Brian Bell, CEO of Fedcap Scotland

Route Back to Work Can be a Bumpy Ride – Op-Ed by Brian Bell, CEO of Fedcap Scotland

Brian Bell, CEO of Fedcap Scotland and Fedcap Employment in the UK, wrtites for Daily Business Magazine about the challenges faced by people who have been out of the workforce—often due to physical or mental health constraints—and how Fedcap has developed smart solutions to help people obtain employment. 

“We have built some very smart methods of getting feedback from people who use our services at Fedcap, including how we capture and use data and as part of the debate we have been having a look at what is going on for people who have been ‘economically inactive.'” 

Read the full article on the Daily Business Magazine website.

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A Purpose Driven Brand: The ‘Why’ a Business Exists Matters

A Purpose Driven Brand: The ‘Why’ a Business Exists Matters

March 20, 2023

“There is no more strategic issue for a company, or any organization, than its ultimate purpose.”

– Ray Anderson, the former CEO of Interface

Business-to-business (B2B) marketing—or marketing tailored to business or other organizations—is a constantly evolving industry. A review of 2023 B2B trends finds the concepts of purpose driven brands and purpose perception as central to watch for as emerging trends.

According to Branding Strategy Insider a purpose-driven brand is one where the organization has consciously placed its ‘Why’ front and center—in how it communicates, but more importantly, in how it actually behaves in its business conduct. The ‘why’ drives what the organization will and will not do. It defines what services it provides, what products it sells, the people it hires, promotes and rewards—in other words, the heart and soul of how it does business.

Increasingly, brands are including corporate social responsibility (CSR) as part of their brand purpose. CSR is the practice of incorporating social and environmental concerns into a company’s business operations and decision-making. It’s a way for brands to give back to their communities and positively impact the world. To appeal to purpose-driven consumers, brands need to be transparent about their CSR initiatives.

A recent online Porter Novelli Purpose Perception Study that surveyed 1,200 US adults ages 18-69 found that when a brand leads with purpose, it builds a relationship with staff and consumers alike that goes deep. In essence, there was overwhelming support for a company that operated with purpose. The ‘why’ companies do business matters to people.

A purpose-driven brand is fully aligned with profitability. The past perception that the pursuit of profit and the pursuit of purpose as an ‘either profit or purpose’ trade-off, clearly doesn’t align with reality. As the data above show, it’s actually a ‘both profit and purpose’ model—both philosophically and financially. Put simply, it pays to do good.

As Jim Stengel, the former CMO of Procter and Gamble said, “This is not corporate social responsibility, it’s not cause marketing, and it’s not a strategy for philanthropy; it’s a business strategy. Your philanthropy can come out of it, just like your R&D and HR come out of it. But once you choose your purpose—everything else should come out of that.”1

A purpose driven brand results in trust, by both the consumer and the employee, that a company is going to do what it says it is going to do.

In 2021 Forrester published its study entitled The Trust Imperative which found that:

Organizations that succeed at building and continuously reinforcing trust have the unique opportunity to build enduring bonds with customers, attract the best, most dedicated talent, and create unique experiences with an ecosystem of partners and emerging technologies that people embrace, not fear—all while minimizing risk. Every company must embrace this opportunity and commit to trust as a business imperative. 2

The concept of a purpose-driven brand, clearly defining why and how we do what we do and then striving to earn the trust of consumers by reliably living up to the standard, is a driving force within The Fedcap Group. Our very structure as a nonprofit makes us mission-driven, but who we do business with matters as well. We understand our fidelity to our mission of breaking down barriers to economic well-being matters to our funders, donors, and staff—and they hold us to a high standard. Likewise, it matters that our supply chain and other business partners are purpose driven as well.

ENDNOTES:

1. Excerpted from Brand and Talent by Kevin Keohane. Brand and Talent. Kogan Page Publishing. (2014).
2. https://www.forrester.com/blogs/trust-is-your-business-imperative/

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Seacoast Pathways Members Organize Auction, Raising Funds for Clubhouse

Seacoast Pathways Members Organize Auction, Raising Funds for Clubhouse

Seacoast Pathways is a place for adults living with mental illness to come together for purposeful work and meaningful relationships in the NH Seacoast area.

Our online auction raises funds to support the clubhouse’s activities. A range of auction items beginning with bids as low as $5 are available. For supporters who are able to contribute higher amounts, several unique opportunities are also available, from luxury home goods to a weekend retreat in Boston and Martha’s Vineyard.

The auction runs from Sunday, March 12 at noon to Sunday, March 26 at 8 pm.

Seacoast Pathways is an accredited Clubhouse, which means it is run on a proven, evidence-based approach that focuses on strengths and abilities, not on illness. Members collectively work together on various projects—including preparing this fundraiser—to support their mental health. Seacoast Pathways is also working with local employers to place members who are ready to enter or re-enter the workforce with well-matched jobs that can provide more independence and autonomy.

To bid, visit the Seacoast Pathways Auction on the Betterworld.org website.

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