SKILLS FOR CHICAGO

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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

2011

Legal Domicile

Principal Officer

BRIDGET ALTENBURG

Phone

3129067200

Tax Period

2024-01-01 to 2024-12-31

SKILLS FOR CHICAGO, founded in 2011, is a community nonprofit in the Employment sector that reported $5.0M in total revenue in fiscal year 2024. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $7.9M exceeded revenue, resulting in a 60% operating deficit.

Mission

THE MISSION OF SKILLS IS TO STAND AS A LIFE-CHANGING EMPLOYMENT RESOURCE CONNECTING UNDERREPRESENTED JOB SEEKERS TO EMPLOYERS WITH OPPORTUNITIES ACROSS INDUSTRIES. WE DO THIS BY BUILDING MULTI-LEVEL, TRUSTED RELATIONSHIPS WITH OUR EMPLOYER PARTNERS TO BREAK DOWN BARRIERS IN THE HIRING PROCESS AND CONNECT THEM TO OVERLOOKED TALENT. WE WORK WITH COMMUNITY PARTNERS TO PREPARE UNEMPLOYED TALENT FOR JOBS AND TO PROVIDE SUPPORTIVE SERVICES TO ENSURE THOSE PLACED CAN STAY IN THOSE JOBS. THE VAST MAJORITY OF SKILLS' CANDIDATES COME FROM DISINVESTED COMMUNITIES ON THE SOUTH AND WEST SIDES OF CHICAGO, WHICH EXPERIENCE UNEMPLOYMENT RATES 3-5X HIGHER THAN THE NATIONAL AVERAGE. SKILLS COLOCATES IN OFFICES IN SOUTH, WEST AND SOUTHWEST SIDE NEIGHBORHOODS TO MAKE ITS SERVICES CONVENIENT TO JOB SEEKERS AND TO MAINTAIN A CLOSE PULSE ON COMMUNITY NEEDS.

Program Service Accomplishments

Program 1

Expenses: $4,581,787 Revenue: $133,075

PLACEMENTS: THE MISSION OF SKILLS IS TO STAND AS A LIFE-CHANGING EMPLOYMENT RESOURCE CONNECTING UNDERREPRESENTED JOB SEEKERS TO EMPLOYERS WITH OPPORTUNITIES ACROSS INDUSTRIES. WE DO THIS BY BUILDING MULTI-LEVEL, TRUSTED RELATIONSHIPS WITH OUR EMPLOYER PARTNERS TO BREAK DOWN BARRIERS IN THE HIRING PROCESS AND CONNECT THEM TO OVERLOOKED TALENT. WE WORK WITH COMMUNITY PARTNERS TO PREPARE UNEMPLOYED TALENT FOR JOBS AND TO PROVIDE SUPPORTIVE SERVICES TO ENSURE THOSE PLACED CAN STAY IN THOSE JOBS. THE VAST MAJORITY OF SKILLS' CANDIDATES COME FROM DISINVESTED COMMUNITIES ON THE SOUTH AND WEST SIDES OF CHICAGO, WHICH EXPERIENCE UNEMPLOYMENT RATES 3-5X HIGHER THAN THE NATIONAL AVERAGE. SKILLS CO-LOCATES IN OFFICES IN SOUTH, WEST AND SOUTHWEST SIDE NEIGHBORHOODS TO MAKE ITS SERVICES CONVENIENT TO JOB SEEKERS AND TO MAINTAIN A CLOSE PULSE ON COMMUNITY NEEDS.

Program 2

Expenses: $1,364,467

NATIONAL EXPANSION: NATIONAL EXPANSION, ALSO KNOWN AS SKILLS FOR AMERICA'S FUTURE, IS AN INITIATIVE OF SKILLS THAT IS FOCUSED ON REPLICATING SKILLS' MODEL IN TARGET CITIES ACROSS THE COUNTRY. SKILLS HAS LAUNCHED AFFILIATES IN RHODE ISLAND, PHOENIX, AND ATLANTA WITH MORE TO ROLL OUT IN 2025.

Program 3

Expenses: $370,569

CREDENTIAL AND CAREER COACHING: CREDENTIAL AND CAREER COACHING (FORMERLY KNOWN AS CAREER ACCESS) PROGRAM TARGETS UNEMPLOYED AND UNDEREMPLOYED PARTICIPANTS SEEKING MIDDLE-SKILL ROLES, FOR WHICH THEY MAY NEED AN INDUSTRY-RECOGNIZED CREDENTIAL INCLUDING - LICENSES, CERTIFICATES, AND CERTIFICATIONS. THIS PROGRAM INCLUDES: CREDENTIAL CONNECTION - SKILLS WORKS WITH CREDENTIALING PARTNERS TO RECRUIT INDIVIDUALS WHO ARE AT OR NEAR COMPLETION OF TRAINING, PROVIDES INDIVIDUALIZED JOB SEEKER SUPPORT, AND PLACES THEM INTO A ROLE ALIGNED WITH THEIR TRAINING. CAREER PATHWAYS - SKILLS PROVIDES MORE INTENSIVE SUPPORT AND ENGAGES THE JOB SEEKER BEFORE THEY BEGIN THEIR EDUCATION AND TRAINING JOURNEY. THROUGH CAREER PATHWAYS, SKILLS HELPS JOBSEEKERS ENROLL IN CLASSES WITH EDUCATION PARTNERS AND PLACES THEM INTO ENTRY-LEVEL ROLES WHERE THEY CAN EARN INCOME AND GAIN WORK EXPERIENCE, ULTIMATELY CONNECTING THEM TO A MIDDLE-SKILL JOB OPPORTUNITY AS THEY ADVANCE OR COMPLETE EDUCATION AND/OR TRAINING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,858,970

Program Service Revenue $133,075

Investment Income $105,215

Other Revenue $-118,486

TOTAL REVENUE $4,978,774

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,954,376

Fundraising Expenses $588,878

Program Expenses $6,613,490

Other Expenses $1,995,187

TOTAL EXPENSES $7,949,563

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,978,774	$12,476,804	-0.6%
Expenses	$7,949,563	$8,825,429	-0.1%
Net Income	$-2,970,789	$3,651,375	-1.8%

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

$361,116

Total Directors