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Commonwealth Corporation Foundation

 2 Oliver Street, 5th Floor
 Boston, MA 02109
[P] (617) 727-8158
[F] --
www.commcorp.org
@commcorp.org
Ed Wilson
Twitter
INCORPORATED: 2011
 Printable Profile (Summary / Full)
EIN 27-3112781

LAST UPDATED: 01/30/2015
Organization DBA Commonwealth Corporation
CommCorp
Former Names Bay State Skills Corporation (1996)
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

The mission of the Foundation is to provide fiscal support to Commonwealth Corporation, whose mission is to strengthen the skills of Massachusetts youth and adults by investing in innovative partnerships with industry, education and workforce organizations. Commonwealth Corporation seeks to meet the immediate and emerging needs of businesses and workers so that they can thrive in our dynamic economy.

Mission Statement

The mission of the Foundation is to provide fiscal support to Commonwealth Corporation, whose mission is to strengthen the skills of Massachusetts youth and adults by investing in innovative partnerships with industry, education and workforce organizations. Commonwealth Corporation seeks to meet the immediate and emerging needs of businesses and workers so that they can thrive in our dynamic economy.

FinancialsMORE »

Fiscal Year July 01, 2011 to June 30, 2012
Projected Income $36,000,000.00
Projected Expense $36,000,000.00

ProgramsMORE »

  • Low Skilled Adults
  • Teens & Young Adults
  • Workforce Development

Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The mission of the Foundation is to provide fiscal support to Commonwealth Corporation, whose mission is to strengthen the skills of Massachusetts youth and adults by investing in innovative partnerships with industry, education and workforce organizations. Commonwealth Corporation seeks to meet the immediate and emerging needs of businesses and workers so that they can thrive in our dynamic economy.

Background Statement

Commonwealth Corporation designs and executes workforce strategies in partnership with businesses, educators and training providers across the state. These strategies result in programs that address persistent workforce challenges for targeted industries and populations. Massachusetts has one of the highest skilled economies in the world. Against that backdrop, our priority is to address the skills gap that exists for underemployed and unemployed workers, as well as teens and young adults who are new to the workforce, so that they can thrive in our economy.

Commonwealth Corporation seeks to raise $3.5 million over three years to support innovative approaches with the potential to significantly impact the economic future of the Commonwealth and its young people. These initiatives will leverage the investment of the Commonwealth by putting the lessons learned in the field to work in a manner that government can’t do on its own.

All of the information provided on The Giving Common, with the exception of the Foundation board of directors, is based on the financials of Commonwealth Corporation. 


Impact Statement

Commonwealth Corporation builds career pathways for youth and adults in Massachusetts to prepare for high demand jobs in the state’s knowledge and innovation economy.  We work in partnership with business, labor, education, workforce and community-based organizations and government to carry out this mission. 

Needs Statement

As the preeminent workforce development organization in Massachusetts and recognized as a leader in the field nationally, Commonwealth Corporation created a nonprofit 501(c)(3) in June 2011 to secure private sector support to leverage the knowledge base and best practices garnered through its direct experience to support the design and testing of new models, to better share best practices, to more directly influence public policy, and ultimately to ensure the competitive advantage of the Commonwealth by better engaging our young people, the unemployed, and the underemployed in the industries seeking skilled workers.


CEO Statement

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Board Chair Statement

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Geographic Area Served

STATEWIDE

Commonwealth Corporation designs and executes workforce programs in partnership with businesses, educators, and training providers throughout the state.  These programs address persistent workforce challenges, such as the skills gap, for targeted industries and populations.  Commonwealth Corporation helps build the capacity of over 200 community-based providers, 33 career centers, 16 workforce boards and 15 community colleges in Massachusetts and national providers.

Organization Categories

  1. Employment - Employment Preparation & Procurement
  2. Youth Development - Youth Development-Business
  3. Education -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Low Skilled Adults

Massachusetts has 1.2 million working-age adults who only have a high school education orhave not even completed high school in Massachusetts; by 2018 more than two-thirds of all jobs in the state (2.4 million jobs) will require some postsecondary training beyond high school.  We work with businesses, educational institutions and community based organizations to design and implement programs to prepare low skilled adults for success in skilled employment.

Budget  .
Category  Employment, General/Other Job Training & Employment
Population Served Adults Unemployed, Underemployed, Dislocated Poor,Economically Disadvantaged,Indigent
Program Short-Term Success  .
Program Long-Term Success  .
Program Success Monitored By  .
Examples of Program Success  .

Teens & Young Adults

In 2012, approximately 40,000 teens and young adults, aged 16 – 24, were neither in school or employed. For the young adults who are unemployed and did not go to college, we continue to build and create pathways to prepare young people with the post-secondary skills and work experiences that lead to successful careers.
Budget  .
Category  Employment, General/Other Job Training & Employment
Population Served Unemployed, Underemployed, Dislocated Adolescents Only (13-19 years) College Aged (18-26 years)
Program Short-Term Success  .
Program Long-Term Success  .
Program Success Monitored By  .
Examples of Program Success  .

Workforce Development

Commonwealth Corporation is a nationally-recognized leader in building industry sector partnerships that address the skill needs of specific employers in an industry, creating new or expanded capacity in education and training programs for demand occupations.

We are committed to ensuring that Massachusetts businesses have access to a pipeline of highly skilled workers and that youth and adults in Massachusetts have pathways to good jobs in the knowledge economy.
Budget  .
Category  Education, General/Other Curriculum Development
Population Served Unemployed, Underemployed, Dislocated Poor,Economically Disadvantaged,Indigent At-Risk Populations
Program Short-Term Success  .
Program Long-Term Success  .
Program Success Monitored By  .
Examples of Program Success  .

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Nancy Snyder
CEO Term Start June 2007
CEO Email [email protected]
CEO Experience Nancy Snyder was appointed as the President & CEO of Commonwealth Corporation in 2007. Ms. Snyder served as Interim Secretary of Labor and Workforce Development November 2009-January 2010. Prior to joining Commonwealth Corporation, she served as Deputy Director at the Boston Private Industry Council from 1995-2007. Prior to her work with the Boston PIC, Ms. Snyder held leadership positions in Boston city government, including Staff Director to former Boston Mayor Raymond L. Flynn, Deputy Assistant Commissioner at the Department of Health & Hospitals, and Director of Jobs and Community Services for the City of Boston. She holds MBA from Boston University and a Certificate from the Advanced Management Program at the Harvard Business School.
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
Susan Lange Vice President, Youth Pathways --
Rebekah Lashman Senior Vice President --
John Niles Director, Strategic Youth Initiatives & Policy --
Pat Pegnato Director of Human Resources --
Hans Van der Lee Vice President, Finance & Administration --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? Yes
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 38
Number of Part Time Staff 2
Number of Volunteers 0
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 9
Asian American/Pacific Islander: 2
Caucasian: 28
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 1
Other (if specified): --
Gender Female: 28
Male: 12
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Yes
Years Strategic Plan Considers 3
Management Succession Plan No
Business Continuity of Operations Plan No
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy No
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit No
State Registration No

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Ms. Nancy Snyder
Board Chair Company Affiliation Commonwealth Corporation
Board Chair Term Apr 2011 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
A. Craig Brown Doherty, Wallace, Pillsbury & Murphy, P.C., Attorneys at Law --
Tulaine Marshall New Profit Inc. --
Wanda McClain Center for Community Health & Health Equity at Brigham & Women's Hospital --
Suzanne Teegarden Workforce Learning Strategies --
Harriet Tolpin Partners --
Susan Tracy The Strategy Group, Inc. --
Thomas Webber -- --

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 2
Asian American/Pacific Islander: 0
Caucasian: 6
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 5
Male: 2
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 0%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation No

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

Fiscal Year July 01, 2011 to June 30, 2012
Projected Income $36,000,000.00
Projected Expense $36,000,000.00
Form 990s --
Audit Documents

2013 Audit

2012 Audit

2011 Audit

2010 Audit

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2013 2012 2011
Total Revenue $36,400,511 $34,371,484 $34,770,655
Total Expenses $36,397,065 $34,436,658 $34,764,639

Prior Three Years Revenue Sources

Fiscal Year 2013 2012 2011
Foundation and
Corporation Contributions
$150,000 $99,263 $262,305
Government Contributions $36,201,474 $34,193,533 $34,435,030
    Federal $2,254,717 $8,427,799 $11,769,725
    State $33,946,757 $25,765,734 $22,665,305
    Local -- -- --
    Unspecified -- -- --
Individual Contributions -- -- --
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses $42,037 $35,419 $26,257
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind -- -- --
Other $7,000 $43,269 $47,063

Prior Three Years Expense Allocations

Fiscal Year 2013 2012 2011
Program Expense $35,452,884 $32,800,004 $33,263,586
Administration Expense $944,181 $1,636,654 $1,501,053
Fundraising Expense -- $0 --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.00 1.00 1.00
Program Expense/Total Expenses 97% 95% 96%
Fundraising Expense/Contributed Revenue 0% 0% 0%

Prior Three Years Assets and Liabilities

Fiscal Year 2013 2012 2011
Total Assets $34,694,198 $27,134,304 $18,244,554
Current Assets $34,473,486 $26,897,584 $18,096,175
Long-Term Liabilities $0 $0 $0
Current Liabilities $33,880,039 $26,323,591 $17,368,667
Total Net Assets $814,159 $810,713 $875,887

Prior Three Years Top Three Funding Sources

Fiscal Year 2013 2012 2011
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2013 2012 2011
Current Ratio: Current Assets/Current Liabilities 1.02 1.02 1.04

Long Term Solvency

Fiscal Year 2013 2012 2011
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

These are the financials for Commonwealth Corporation which is a Massachusetts quasi-public corporation within the Executive Office of Labor and Workforce Development. The Commonwealth Corporation Foundation (CCF) supports the work of Commonwealth Corporation. CCF was founded in 2010 and has had no other activity except a $10K gift from Commonwealth Corporation. CCF files a 990-N or postcard given the revenue and asset level. The financials of the Corporation are shown in the charts and graphs to illustrate the history and breadth of work which would be supported by gifts to CCF.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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