TALENT FIRST INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

KEVIN STOTTS

Phone

6168712450

Tax Period

2023-01-01 to 2023-12-31

TALENT FIRST INC, founded in 2009, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 61% from the prior year, signaling strong growth momentum. Expenses of $1.7M left a modest 5% surplus.

Mission

TALENTFIRST IS A CEO ALLIANCE PROVIDING LEADERSHIP ON TODAY'S COMPLEX TALENT CHALLENGES. WE RELY ON DATA AND EXPERTISE TO ILLUMINATE GAPS, EVALUATE STRATEGIES, AND ADVOCATE FOR SOLUTIONS TO ATTRACT, RETAIN, AND DEVELOP THE TALENT WEST MICHIGAN EMPLOYERS NEED AND TO ENSURE ALL INDIVIDUALS AND THE REGION CAN THRIVE.

Program Service Accomplishments

Program 1

Expenses: $691,321 Revenue: $33,209

TALENT FIRST IS A CEO ALLIANCE SERVING 13 COUNTIES IN WEST MICHIGAN PROVIDING LEADERSHIP ON TODAY'S COMPLEX TALENT CHALLENGES. WE RELY ON DATA AND EXPERTISE TO ILLUMINATE GAPS, EVALUATE STRATEGIES...

TALENT FIRST IS A CEO ALLIANCE SERVING 13 COUNTIES IN WEST MICHIGAN PROVIDING LEADERSHIP ON TODAY'S COMPLEX TALENT CHALLENGES. WE RELY ON DATA AND EXPERTISE TO ILLUMINATE GAPS, EVALUATE STRATEGIES, AND ADVOCATE FOR SOLUTIONS TO ATTRACT, RETAIN, AND DEVELOP THE TALENT WEST MICHIGAN EMPLOYERS NEED AND TO ENSURE ALL INDIVIDUALS AND THE REGION CAN THRIVE. IN 2023, WE CONVENED STAKEHOLDERS FROM OUR WORKING GROUPS TO DEVELOP INSIGHTS AND SOLUTIONS TO ENHANCE THE REGION'S TALENT ATTRACTION, RETENTION, AND DEVELOPMENT EFFORTS.

Program 2

Expenses: $693,720

IN 2023, TALENT FIRST BEGAN ACTIVITIES FOR THE MICHIGAN CENTER FOR ADULT COLLEGE SUCCESS TO SERVE AS THE STATE'S PRIMARY RESOURCE FOR RESEARCH, SUPPORT, AND BEST PRACTICES ON ENSURING ADULT...

IN 2023, TALENT FIRST BEGAN ACTIVITIES FOR THE MICHIGAN CENTER FOR ADULT COLLEGE SUCCESS TO SERVE AS THE STATE'S PRIMARY RESOURCE FOR RESEARCH, SUPPORT, AND BEST PRACTICES ON ENSURING ADULT ENROLLMENT AND COMPLETION OF CREDENTIALS. THIS INITIATIVE IS FUNDED WITH AN APPROPRIATION BY THE STATE OF MICHIGAN. ACTIVITIES INCLUDED HIRING STAFF, PUBLISHING A REPORT ASSESSING THE STATE'S PERFORMANCE SERVING ADULT LEARNERS AND NATIONAL BEST PRACTICES, CONVENING LEADERS FROM POST-SECONDARY INSTITUTIONS, AND PROVIDING TECHNICAL ASSISTANCE TO INSTITUTIONS THAT WANT TO EXPLORE HOW TO IMPROVE ADULT LEARNER OUTCOMES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,604,739

Program Service Revenue $33,209

Investment Income $105,619

Other Revenue $10

TOTAL REVENUE $1,743,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $815,906

Fundraising Expenses $55,104

Program Expenses $1,385,041

Other Expenses $842,552

TOTAL EXPENSES $1,658,458

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,743,577	$1,080,715	+0.6%
Expenses	$1,658,458	$1,139,055	+0.5%
Net Income	$85,119	$-58,340	-2.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$251,885

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK WHITE	CO-CHAIR	2.00	Officer Director	$0	$0	$0
MATT BIERSACK	CO-CHAIR	2.00	Officer Director	$0	$0	$0
RHONDA HUISMAN	TREASURER	2.00	Officer Director	$0	$0	$0
GINNY SEYFERTH	SECRETARY	1.50	Officer Director	$0	$0	$0
LESLIE BROWN	DIRECTOR	1.50	Director	$0	$0	$0
FRED KELLER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN KENNEDY	DIRECTOR	1.00	Director	$0	$0	$0
RICK KEYES	DIRECTOR	1.50	Director	$0	$0	$0
BRIAN KRAUS	DIRECTOR	1.00	Director	$0	$0	$0
AMY KRAAL	CO-CHAIR	1.50	Director	$0	$0	$0
BILL PINK	DIRECTOR	1.00	Director	$0	$0	$0
JAY PRESTON	DIRECTOR	1.50	Director	$0	$0	$0
MICHAEL DAVENPORT	DIRECTOR	1.00	Director	$0	$0	$0
JIM TEETS	DIRECTOR	1.00	Director	$0	$0	$0
SEAN WELSH	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WILSON	DIRECTOR	1.25	Director	$0	$0	$0
KEVIN STOTTS	PRESIDENT	40.00	Officer	$224,388	$27,497	$251,885
JEREMY HENDGES	DIRECTOR OF MI CENTER FOR ADULT COLLEGE SUCCESS	40.00	Highest	$120,070	$21,123	$141,193

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,743,577	$1,658,458	$4,111,145	$85,119
2022	$1,080,715	$1,139,055	$558,634	$-58,340
2021	$702,664	$625,896	$274,791	$76,768
2020	$725,811	$837,775	$190,660	$-111,964
2019	$1,109,368	$1,112,646	$201,988	$-3,278
2018	$1,132,273	$1,019,386	$620,674	$112,887