VOLCKER ALLIANCE INC

EIN: 454585989 501(c)(3) Public & Societal Benefit

NEW YORK, NY

Total Revenue
$5,262,215
Total Expenses
$5,150,241
Total Assets
$22,606,082
Net Assets
$21,449,650
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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
NY
Principal Officer
SARA MOGULESCU
Phone
6463430155
Tax Period
2023-01-01 to 2023-12-31

VOLCKER ALLIANCE INC, founded in 2012, is a community nonprofit in the Public & Societal Benefit sector that reported $5.3M in total revenue in fiscal year 2023. Revenue surged 97% from the prior year, signaling strong growth momentum. Net assets of $21.4M represent 49 months of operating reserves.

Mission

THE VOLCKER ALLIANCE IS A NONPROFIT FOUNDED BY FORMER FEDERAL RESERVE BOARD CHAIRMAN PAUL A. VOLCKER DEDICATED TO ADVANCING HIS VISION OF AN EMPOWERED PUBLIC SECTOR WORKFORCE.

Program Service Accomplishments

Program 1
Expenses: $4,002,709 Revenue: $50,000

OVERVIEWTHE VOLCKER ALLIANCE IS A NONPROFIT FOUNDED BY FORMER FEDERAL RESERVE BOARD CHAIRMAN PAUL A. VOLCKER DEDICATED TO ADVANCING HIS VISION OF AN EMPOWERED PUBLIC SECTOR WORKFORCE. OUR PROGRAMS...

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OVERVIEWTHE VOLCKER ALLIANCE IS A NONPROFIT FOUNDED BY FORMER FEDERAL RESERVE BOARD CHAIRMAN PAUL A. VOLCKER DEDICATED TO ADVANCING HIS VISION OF AN EMPOWERED PUBLIC SECTOR WORKFORCE. OUR PROGRAMS WORK IN SERVICE OF OUR FOUR MAIN STRATEGIES TO EDUCATE, EMPOWER, CONNECT, AND INSPIRE CURRENT AND ASPIRING PUBLIC SERVANTS. WE PROMOTE INNOVATION IN PUBLIC SERVICE EDUCATION, EMPOWER LEADERS TO BUILD THE DEMOCRACY OF OUR FUTURE, CONNECT TALENT TO CITY, STATE, AND FEDERAL GOVERNMENT JOBS, AND INSPIRE OTHERS WITH THE STORY OF MR. VOLCKER'S COMMITMENT TO PUBLIC SERVICE. THE VOLCKER ALLIANCE HAS HELPED DEFINE THE FIELD OF PUBLIC SERVICE EDUCATION THROUGH CONVENING AND SUPPORTING THE DEANS SUMMIT. THE DEANS SUMMIT IS A NETWORK OF DEANS AND DIRECTORS OF THE NATION'S SCHOOLS OF PUBLIC SERVICE. RECOGNIZING THAT BROADENING THE REACH OF PUBLIC SERVICE EDUCATION IS CRITICAL TO THE FUTURE OF OUR DEMOCRACY, OVER 70 MEMBERS OF THIS COLLABORATIVE SHED COMPETITIVE POSTURE IN FAVOR OF COLLECTIVE ACTION. FOR EXAMPLE, LAUNCHED IN 2023 IN CONNECTION WITH THE DEANS SUMMIT, THE CONSTRUCTIVE DIALOGUE CURRICULUM INITIATIVE HELPS SCHOOLS OF PUBLIC SERVICE DESIGN AND IMPLEMENT INNOVATIVE CURRICULA THAT PREPARE THE NEXT GENERATION OF PUBLIC SERVICE LEADERS TO BRIDGE DIVIDES. IN COLLABORATION WITH THE CONSTRUCTIVE DIALOGUE INSTITUTE (CDI), 14 SCHOOLS OF PUBLIC SERVICE ARE DEVELOPING COURSES TO TEACH SKILLS FOR COLLABORATING ACROSS DIFFERENCE. OUR NEXT GENERATION SERVICE CORPS DRAWS DIVERSE, TALENTED YOUNG PEOPLE INTO PUBLIC SERVICE CAREERS. THIS INITIATIVE NOW INCLUDES OVER TWENTY MEMBER UNIVERSITIES. APPROXIMATELY 1,200 STUDENTS WILL BE ENROLLED IN PARTICIPATING PROGRAMS IN FALL 2024. THE NEXT GENERATION SERVICE CORPS HAS CATALYZED A NATIONAL NETWORK OF UNDERGRADUATE STUDENTS WHO ARE COMMITTED TO SERVING THEIR COMMUNITIES AND CHARTING THE FUTURE OF OUR DEMOCRACY. IN 2023, THE VOLCKER ALLIANCE CONTINUED TO EXPAND ITS PUBLIC FINANCE PORTFOLIO. OUR SPECIAL BRIEFING WEBINAR PROGRAM, PRODUCED IN PARTNERSHIP WITH THE UNIVERSITY OF PENNSYLVANIA INSTITUTE FOR URBAN RESEARCH, ATTRACTED STRONG VIEWERSHIP FOR BOTH THE LIVESTREAM AND PODCAST EDITIONS. THROUGH THE STATE AND LOCAL BUDGETING IN THE COVID ERA PROJECT, THE ALLIANCE PUBLISHED TWO ISSUE PAPERS IN 2023 FOCUSED ON THE FISCAL IMPACT OF THE COVID-19 PANDEMIC ON STATE AND LOCAL BUDGETS. SPECIFICALLY, "REVENUE AT RISK" FOCUSED ON BOLSTERING NEW YORK CITY'S BUDGET AHEAD OF FEDERAL CUTS TO STATE AID, AND "ON THE EDGE" FOCUSED MORE BROADLY ON HOW STATES SHOULD BEST BALANCE THEIR BUDGET AS FEDERAL ARPA FUNDING RUNS OUT. OUR TALENT INITIATIVES ARE INNOVATIVE, COLLABORATIVE PROJECTS THAT SEEK TO STRENGTHEN AND DIVERSIFY THE TALENT PIPELINE INTO GOVERNMENT. IN 2023, THE VOLCKER ALLIANCE CONTINUED TO DIRECT JOBSEEKERS TO CAREER OPPORTUNITIES IN GOVERNMENT THROUGH VIRTUAL HIRING FAIRS. LEVERAGING INNOVATIONS IN TECHNOLOGY ACCELERATED BY THE PANDEMIC, JOB FAIRS DRAW HUNDREDS OF DIVERSE, HIGHLY SKILLED JOB SEEKERS AND CONSTRUCTIVELY CONNECT THEM TO GOVERNMENT EMPLOYERS URGENTLY SEEKING TALENT. ALSO, AS PART OF THE MACARTHUR FOUNDATION'S SAFETY AND JUSTICE CHALLENGE, THE VOLCKER ALLIANCE CONDUCTED AN EXPANSIVE STRATEGIC PLANNING EFFORT TO IDENTIFY STRATEGIES TO ENSURE THAT DIVERSE, TALENTED LEADERS SERVE AS STEWARDS OF THE CRIMINAL JUSTICE SYSTEM. FINALLY, THE VOLCKER ALLIANCE AIMS TO INSPIRE OTHERS WITH THE STORY OF MR. VOLCKER'S COMMITMENT TO PUBLIC SERVICE. CORE TO OUR EFFORTS HERE, IN 2023 WE AWARDED EIGHT STIPENDS TO COLLEGE STUDENTS THROUGH THE PAUL A. VOLCKER GOVERNMENT INTERNSHIP AWARD PROGRAM, TO SUPPORT THEIR PARTICIPATION IN GOVERNMENT INTERNSHIPS AND OPEN THE DOOR TO CAREERS IN PUBLIC SERVICE.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,076,200
Program Service Revenue $50,000
Investment Income $129,929
Other Revenue $6,086
TOTAL REVENUE $5,262,215

Expense Breakdown

Grants Paid $221,006
Salaries & Benefits $3,188,535
Fundraising Expenses $291,207
Program Expenses $4,002,709
Other Expenses $1,740,700
TOTAL EXPENSES $5,150,241

Year-over-Year Comparison

2023 2022 Change
Revenue $5,262,215 $2,666,702 +1.0%
Expenses $5,150,241 $4,878,547 +0.1%
Net Income $111,974 $-2,211,845 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
14
Employees
31
Volunteers
17

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
6
$1,000,101
Total Directors
17
$466,818
Key Employees
3
$715,554
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARA MOGULESCU PRESIDENT 40.00
Officer Director
$375,457 $46,801 $422,258
WILLIAM BRADLEY CHAIRMAN 1.00
Officer Director
$0 $0 $0
THOMAS W ROSS VICE CHAIRMAN 5.00
Officer Director
$44,560 $0 $44,560
SHEILA BAIR BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS M DAVIS BOARD MEMBER 1.00
Director
$0 $0 $0
ANTHONY DOWD TREASURER 5.00
Officer Director
$0 $0 $0
T ELOISE FOSTER BOARD MEMBER 1.00
Director
$0 $0 $0
ANTHONY FOXX BOARD MEMBER 1.00
Director
$0 $0 $0
SHIRLEY CLARKE FRANKLIN BOARD MEMBER 1.00
Director
$0 $0 $0
FRANCIS FUKUYAMA BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHANIE MINER BOARD MEMBER 1.00
Director
$0 $0 $0
NORMAN J ORNSTEIN BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL PIWOWAR BOARD MEMBER 1.00
Director
$0 $0 $0
RICHARD RAVITCH BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM RHODES BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES P VOLCKER BOARD MEMBER 1.00
Director
$0 $0 $0
ANTONIO WEISS BOARD MEMBER 1.00
Director
$0 $0 $0
EMILY BOLTON EXECUTIVE VICE PRESIDENT 40.00
Officer
$273,490 $9,564 $283,054
MELISSA AUSTIN CHIEF OPERATING OFFICER 40.00
Officer
$221,744 $28,485 $250,229
WILLIAM GLASGALL SENIOR DIRECTOR, PUBLIC FINANCE 40.00
Key Emp
$264,732 $49,392 $314,124
BRETT HUNT SR. DIRECTOR, NEXT GENERATION SERVICE INITIATIVES 40.00
Key Emp
$152,139 $53,893 $206,032
MAGGIE MELLO SENIOR DIRECTOR, PUBLIC SERVICE EDUCATION 40.00
Key Emp
$157,526 $37,872 $195,398
PETER MORRISSEY DIRECTOR, TALENT INITIATIVES 40.00
Highest
$146,089 $6,819 $152,908
NOAH WINN-RITZENBERG DIRECTOR, RESEARCH AND IMPACT 40.00
Highest
$128,661 $30,439 $159,100
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 $5,262,215 $5,150,241 $22,606,082 $111,974
2022 $2,666,702 $4,878,547 $20,293,018 $-2,211,845
2021 $7,640,617 $4,463,148 $23,661,694 $3,177,469
2020 $7,732,038 $4,944,644 $19,454,354 $2,787,394
2019 $7,751,666 $4,388,774 $15,526,521 $3,362,892
2018 $2,765,091 $4,779,901 $12,626,480 $-2,014,810
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