Able Trust Board Meeting Materials - September 2025

BOARD Meeting Agenda – September 25, 2025, 10:00 AM – NOON, Zoom Link https://us02web.zoom.us/j/89263725469?pwd=Zc8zuaTjlbnGaC1MgpDQpKhoDWT4nG.1 Meeting Call-In Number: 1 929 205 6099 Meeting ID: 892 6372 5469 Passcode: 161383 Directors are reminded that all Able Trust Board and Committee meeting are open and publicly noticed. Under Florida Sunshine Law, any meeting of 2 or more Able Trust Directors must be publicly noticed. Directors are prohibited from discussing Able Trust business outside of official meetings of the organization. Directors are reminded of conflict-of-interest provisions. In declaring a conflict, please refrain from voting or discussion and declare the following information: 1) Your name and position on the Board, 2) The nature of the conflict, and 3) Who will gain or lose as a result of the conflict.

I. II. III.

Call to Order (5 Minutes) Roll Call and Establishment of Quorum Approval of Agenda – Action

IV.

Consent Agenda – Action (5 Minutes) a. Acceptance of May Meeting Minutes b. FY 2025-26 HSHT Grant Recommendations

V.

VII.

Financial Reports – Action (15 Minutes) a. FY 2024 – 2025 4th Quarter Finance Reports i.

Profit & Loss Sheet ii.

Balance Sheet b. Annual Audit

b. Legislative Update c.

IX.

Pg. 1 – 7 Pg. 8

Pg. 9 – 12 Pg. 13-14 Pg. 15-16

Laurie Sallarulo

Doug Hilliard, Treasurer Delia Finnerty, Law, Redd, Crona & Monroe

Regular Business – (1 Hour) a. FY 2024-2025 Strategic Outcomes and FY 2025-2026 Strategic Work a. Development b. Programs c. Communications

VIII.

Laurie Sallarulo, Chair Chip Byers, Secretary Laurie Sallarulo

CEO Annual Evaluation

Presentations (30 Minutes) a. VR Report New Business Public Comment Adjourn

Pg. 17-19

Allison Chase, President & CEO TAT Leadership Team

Todd Jennings, Legislative Committee Chair Alan Suskey, Shumaker Laurie Sallarulo, Chair

Kelly Rogers, VR Director Laurie Sallarulo, Chair

NEXT Board Meeting: January 21-22, Tallahassee More details to come.

Please Note: Agenda subject to revisions and additions per the discretion of the Chair of the Board of Directors. Notification will be sent of any such revisions or changes. Members of the Public: Please notify Arnaldo Ramos at Arnaldo@AbleTrust.org if you wish to make public comment on particular agenda items no later than 1-hour prior to beginning of the meeting.

Florida Endowment Foundation for Vocational Rehabilitation, dba The Able Trust DRAFT - Meeting Minutes Board of Directors Meeting – May 22, 2025, 10:00 a.m. to 12:00 p.m.

Virtual Meeting Members in Attendance

James “Chip” Byers; Lori Fahey; Doug Hilliard; Todd Jennings; Dr. Mavara Agrawal; Stephanie Westerman; Alexis Doyle; Kelly Rogers;

Members Absent

Laurie Sallarulo;

Staff in Attendance

Allison Chase, President; Arnaldo Ramos, Office Administrator and Executive Assistant to the President; Donna Wright, Vice President of Development & Marketing; Joseph D’Souza, Sr. Vice President; Tracey Low, Vice President of Strategic Communications; Justin Adams, Communications Manager; Coleen Agner, State Director of HSHT; Leanne Rexford, Director of Partner Relations Steve Hogan, Esq., Ausley McMullen

Others in Attendance Item

Action/Discussion

I.

Call to Order

President Chase called the meeting to order at 10:06a.m.

II.

Roll Call and Establishment of Quorum

Chip Byers, Board Secretary completed roll call and a quorum was established at 10:13a.m.

III.

Approval of Agenda – Action

Motion made to approve the agenda as stated by Director Hilliard and seconded by Director Jennings. Motion carried.

IV.

Approval of Consent Agenda – Action a. Acceptance of January & March Meeting Minutes b. FY24-25 Quarter 3 Balance Sheet

Motion made to approve the consent agenda by Director Jennings, seconded by Director Hilliard. Motion carried.

Balance Sheet • Bank Transition: Migration from The First to Capital City Bank to be completed by June 30, 2025. Both account balances currently appear on the balance sheet. The First accounts will be removed after final reconciliation (accounts: 109.300, 109.003, 109.002, 109.004, 108.000, 109.000, 109.200).

• Assets & Endowments: Down slightly (1%) compared to Q3 last year.

• Unearned Revenue (line 321.000): Reflects remaining ArtCIE funds. Final reconciliation and return of unused funds to FDOE/VR will occur at fiscal year-end.

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c. FY24-25 Quarter 3 Profit & Loss Statement

V.

Action Items a. Pensacola Cares, Inc.

Profit & Loss Sheet • HSHT Futures in Focus (line 606.600): Final deliverable submitted May 15; final payment of $605,000 pending.

• ArtCIE Project (lines 606.900 and 782.000): Income and expenditures significantly reduced due to FDOE/VR’s decision not to contract with four subgrantees. No financial impact to The Able Trust, as these are pass-through funds.

FDOE/VR is discontinuing the federal grant. TAT staff are finalizing deliverables and closing subgrantee contracts with VR. President Chase updated the board on news related to a 501(c)3 organization that is closing named Pensacola Cares, Inc. and their board identified The Able Trust as an awardee of their disbursement.

Steve Hogan, Esq. from Ausley McMullen provided legal consultant services regarding accepting these funds.

b. Pettengill Endowment Update

Mr. Hogan also provided an update on the Pettingill estate case to the board. The estate is in probate, which may take up to six months.

Ausley McMullen, a Tallahassee firm with estate law expertise, is handling the process on our behalf. No family objections have been raised. The estate is valued at $6.6 million. The Able Trust will receive a 1.5% annual management fee (approximately $100,000), with interest and earnings distributed to estate-designated charities.

c. FY2025-2026 Budget

Director Hilliard and President Chase provided an overview regarding the proposed budget for the upcoming fiscal year.

• Lines 8 & 18: ArtCIE federal grant removed from revenue and expenses.

• Line 10: Includes $300,000 for Futures in Focus and $300,000 for HSHT internal operations—pending legislative and gubernatorial approval.

• Line 24: Increase reflects addition of three new HSHT sites.

• Lines 25, 26, 29: Increases reflect Helios-funded project activities.

• Line 32: Increase in Research Funds for expanded research on Pre-ETS, HSHT return on investment, and a study of student trajectory from HSHT to VR general services, post-secondary education and employment.

• Line 34: Decrease due to ending contract with NANOE. • Line 35: Increase for expanding donor events from one to up to ten locations statewide.

• Line 36: Significant decrease in HSHT Ambassadors funding due to reduced need for travel and discontinued plans for

2

• •

leadership training and student events that would supplant site services.

Line 62: Savings from switching to nonprofit-specific insurance coverage.

Line 83: Significant increase in legal fees due to Pettengill endowment settlement.

Motion to approve the draft budget made by Director Byers and seconded by Director Jennings, motion carried.

▪

Helios Grant

d. Officer Elections

Sr. Vice President D’Souza shared an overview regarding the Helios grant which will further support the following aspects of our youth programs: • Student Support • Teacher Support • Data Collection • Program Growth •

All current officers have agreed to serve a third and final term: o Chair: Laurie Sallarulo o Vice Chair: Mavara Agrawal o Treasurer: Doug Hilliard o Secretary: Chip Byers

Motion to approve the office elections made by Director Hilliard and seconded by Director Westerman, motion carried.

VI.

Regular Business

a. President’s Report ▪ Legislative Update

• •

▪

FY 2025 – 2026 Strategic Priorities and KPIs

•

Recurring funds for HSHT ($1,018,000) and nonrecurring funds for HSHT operations ($300,000) are in both the Senate and House budgets.

Nonrecurring funds for HSHT Operations ($300,000) are in the Senate budget. Our lobbyist is hopeful that these funds will be included in both budgets during the conferencing process.

Strategic Priorities and KPIs, presented to the board in January 2025, remain unchanged. Staff are aligning operational plans to meet the following goals: o Expand youth programs to serve 5,000 students annually

by FY 2027–2028. o Diversify funding to raise $12 million over four years and strengthen organizational sustainability. o Invest $260,000 in targeted VR support in FY 2026.

3

• ▪

FY 2024 – 2025 Program Reports i. Programs

Detailed KPIs are included in board materials.

High School High Tech • 1,226 students participated in High School High Tech as of April 17, 2025, a slight decrease of the total number of students served in FY24 • This was due to an unexpected loss of four programs (Columbia, Dixie, Gilchrist and Union counties) due to organization partner switch over.

• The four contracts were replaced in Q4 with programs in Dixie, Okeechobee, Flagler and Martin Counties.

• The Program Evaluation project was successfully completed.

The year end analysis will occur in July.

• The annual professional development conference for HSHT program staff was held successfully in Orlando.

• Site of the Year was Abilities of Florida which serves students in Pasco, Pinellas and Hillsborough counties.

Futures in Focus (HSHT 2.0) • 610 students participated in Futures in Focus as of May 13, 2025.

• 100% of participants met with DVR Counselors.

• 63% of participants had an increased interest, as indicated in pre and post surveys, in participating in postsecondary education opportunities.

• A main takeaway from many projects was the need for parents to be educated alongside the students – to learn possible ways their students can engage in life after high school.

• Futures in Focus sites: Alachua, Brevard, Desoto, Hernando, Lake, Martin, Orange, Putnam, Seminole counties.

ii. Fundraising

Vice President of Marketing & Development, Wright, explained regarding fundraising up to the current date and focusing in on the trajectory for the organization.

• Partnership with AT&T committing $40,000 • Pensacola Care, Inc $845,000 • Major Gifts Ramp Up – Fundraising $130,000

iii. Communications Communications and Research – Update on Meeting Strategic Priorities & Research

4

In addition to The Able Trust communications efforts to increase brand awareness and inform stakeholders about our purpose, programs and successes, communications tools are used across all KPIs within the three strategic priorities.

Expanding The Able Trust Youth Programs • The 30th anniversary of High School High Tech (HSHT) presented an opportunity to help raise awareness. Working with local media, we were successful in having radio and television news spots that focused on the anniversary.

• During the 2025 Legislative Session we distributed an annual report that illustrated the success of HSHT, in support of continued Legislative funding.

• HSHT information was also distributed to legislators and included regional snapshots and a local student story, illustrating the local impact.

• New student success stories were developed to use on the website, in social media and in meetings with legislators and prospective donors.

• Engagement with communication tools: o Social media engagement: Our social media engagement rate from July 2024 to May 2025 is an average of 10.46%– compared to typical nonprofit engagement of between 1% and 3.5%. o Website engagement – area for improvement: Our engagement rate is 43.6% with a goal of increasing to between 60% and 70%.

Develop Research Plan for Youth Programs • A research plan was developed and includes the following components: o Identify best practices for Pre-ETS to inform our efforts to expand HSHT in more school districts in Florida. o Work with consultants to determine what information is needed to measure the return on investment and economic impact of HSHT. o Identify data available through DOE to better understand the population of students with disabilities and graduation rates by disability. o Work with VR to learn more about the trajectory of (PreETS) students with disabilities who become clients, determining what their employment outcomes are.

Diversify Funding • New student success stories, HSHT coordinator testimonials, a new Case for Support and local radio advertising were used

5

•

to support both the awareness event in 2024 and the 2025 fundraising event.

Other communications messaging and tools continue to be updated to better meet the needs of development efforts.

Support VR • Support VR through highlighting their efforts with students in communications tools.

• Work with VR staff to identify opportunities for partnering on webinars.

• Include VR logo in all communications tools.

For over 30 years, The Able Trust has delivered high-quality programs with fiscal responsibility. The HSHT program has a 99% graduation rate and a 54% postsecondary enrollment rate. A scalable HSHT/Pre-ETS model will include: • Collaboration with VR and BEESS to clearly define responsibilities between LEAs and VR, ensuring HSHT/PreETS supplements (not supplants) IDEA-mandated services.

• Identification of service gaps and overlaps between FAPE/IDEA and WIOA. • A comprehensive delivery model featuring: o Guideposts for Success-based curriculum o Compliance with federal and state policies o Defined fees and budgets o Clear reporting roles for The Able Trust, VR, and local partners o In-school delivery for accessibility and continuity o A revolving fund from The Able Trust endowment for local startup costs o A formal agreement with FLDOE/VR detailing the service model.

VII.

VR Update a. VR Report

Director Rogers shared that she has now completed six months as the agency head. Rogers focuses are the following: • Compliance within the program, operations and reporting.

• Ensuring quality services are provided based on individual needs and strengths.

• Partnership with The Able Trust and jointly reviewing the Pre-ETS system.

• Policy decisions, current providers are no longer allowed to pay students to participate in career camp services. However, there are reimbursements for hands on work-based learning experiences.

6

•

First state program to integrate with Florida Win.

Information Items

N/A

New Business

N/A

Next Board Meeting

Date: September 25, 2025 at 10:00a.m.

Location: Virtual meeting via Zoom Motion to adjourn made by Director Jennings. Meeting adjourned at 11:52a.m.

Adjourn

Respectfully submitted, James “Chip” William Byers IV, Secretary

7

Meeting of The Able Trust Grant Committee, August 28, 2025 Grants approved at August 28 meeting: 1. FY26 High School High Tech grants. a. $22,000.00 grant award per contract b. Total amount $1.034M for 47 programs c. HSHT served 1250 students in FY25 2. Grant #26-01 to the Consortium of Florida Education Foundations for Futures in Focus FY26 a. One grant totaling $210,000.00 b. This is final year of a three-year pilot of Futures in Focus c. Futures in Focus served 610 students in FY25

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The Able Trust

Accrual Basis

Profit & Loss Budget vs. Actual July 2024 through June 2025 TOTAL Actual

Budget

$ Over Budget

% of Budget

338,830.00

338,830.00

0.00

100.0%

1,485,883.00

1,485,883.00

0.00

100.0%

Ordinary Income/Expense Income 600.116 · Cash-Public Invest Prior @ 6/30 600.101 · Cash on Hand - Other 603.016 · Fees Earned-Manage Family Funds

50,173.57

45,000.00

5,173.57

111.5%

603.017 - New Grants

250,362.30

200,000.00

50,362.30

125.18%

1,018,000.00

1,018,000.00

0.00

100.0%

51,822.78

0.00

51,822.78

100.0%

603.003 · Sponsorships & Unrestr Gifts - Other

1,275,353.24

500,000.00

775,353.24

255.07%

603.011 - State Investment Withdrawals

1,029,234.00

1,029,234.00

0.00

100.0%

606.106 · High School High Tech 603.101 · Corp./Ind. Gifts - Unrestricted

661.001 - Private Investment Withdrawals

121,469.00

144,567.00

-23,098.00

84.02%

606.600 · HS/HT Futures in Focus - DVR

1,400,000.00

1,400,000.00

0.00

100.0%

827,074.00

1,150,840.00

-323,766.00

71.87%

7,848,201.89

7,312,354.00

535,847.89

107.33%

606.900 · ArtCIE Grant Revenue Total Income

Expense 786.000 · Program Evaluation

100,000.00

100,000.00

0.00

100.0%

785.000 · Futures in Focus

1,292,500.00

1,400,000.00

-107,500.00

92.32%

782.000 · ArtCIE Federal Grant Project

659,681.84

1,150,840.00

-491,158.16

57.32%

791.000 · Grant Writing

36,200.00

42,000.00

-5,800.00

86.19%

731.000 · Interest Expense

4,145.73

0.00

4,145.73

100.0%

772.000 · Late Fees

115.00

0.00

115.00

100.0%

808.600 · Able IF 2025

120,131.26

110,000.00

10,131.26

109.21%

701.002 · Compensation

852,272.79

855,116.00

-2,843.21

99.67%

701.200 · Payroll Processing/Reports Fee

486.00

550.00

-64.00

88.36%

701.250 · Finance, HR & Record Keeping

68,053.00

72,000.00

-3,947.00

94.52%

702.000 · Payroll & Unemployment Taxes

67,649.05

60,363.00

7,286.05

112.07%

703.000 · Employee Health/Dental Ins.

70,420.77

71,445.00

-1,024.23

98.57%

703.100 · STD/LTD/Life Insurance

3,864.08

4,500.00

-635.92

85.87%

704.000 · 401(k) Match & Expenses

37,908.28

42,755.80

-4,847.52

88.66%

710.000 · Staff Membership Dues

9,149.98

10,000.00

-850.02

91.5%

710.500 · Staff Training & Development

9,208.24

12,000.00

-2,791.76

76.74%

Unaudited for Management Purposes Only

9

Page 4 of 7

The Able Trust

Accrual Basis

Profit & Loss Budget vs. Actual July 2024 through June 2025 TOTAL Actual

Budget

$ Over Budget

% of Budget

-27,311.74

52.09%

711.000 · Staff Travel & Outreach

29,688.26

57,000.00

730.000 · Invest & Bank Account Charges

109,978.95

110,000.00

-21.05

99.98%

750.000 · Computers & Equipment

11,204.81

9,000.00

2,204.81

124.5%

750.100 · Software & Licenses

27,630.38

22,000.00

5,630.38

125.59%

867.98

0.00

867.98

100.0%

758.000 · Insurances - non-health

14,365.49

21,792.10

-7,426.61

65.92%

765.000 · Legal

19,171.00

30,000.00

-10,829.00

63.9%

765.200 · Lobbying

35,000.00

35,000.00

0.00

100.0%

766.000 · Audit & Tax

43,549.13

38,000.00

4,219.13

114.6%

770.000 · Office Supplies

3,068.97

4,000.00

-931.03

76.72%

359.91

0.00

359.91

100.0%

755.000 · Endowment Funds/Invest Mgmt

774.000 · Postage 775.000 · Printing

584.18

1,650.00

-1,065.82

35.41%

71,789.43

70,000.00

1,789.43

102.56%

776.101 · State Storage Document Destruct

130.54

1,000.00

-869.46

13.05%

776.104 · Copier maintenance & ovrg fee

1,566.48

5,000.00

-3,433.52

31.33%

790.000 · Telephone/Internet

3,947.92

2,750.00

1,197.92

143.56%

790.100 · IT Support

4,428.26

15,000.00

-10,571.74

29.52%

793.000 · Board Related Expenses

3,651.92

14,500.00

-10,848.08

25.19%

794.010 · CEO Meetings/Travel/Misc Exp.

7,538.31

20,000.00

-12,461.69

37.69%

794.030 · CEO Memberships

2,331.31

2,000.00

331.31

116.57%

776.100 · Rent - Office Space

780.000 · DVR/Staff Events

64,356.83

60,000.00

4,356.83

107.26%

781.000 · Other Support to DVR

139,967.26

200,000.00

-60,032.74

69.98%

802.010 · Donor Directed Grants

76,561.25

75,000.00

1,561.25

102.08%

802.100 · Grant Obligations - HS/HT AT/VR

1,014,000.00

1,034,000.00

-20,000.00

98.07%

803.303 · Grants - Sponsorsips

15,000.00

15,000.00

0.00

100.0%

805.000 · Advertising

19,017.32

30,500.00

-11,482.68

62.35%

400.00

300.00

100.00

133.33%

805.300 · Fundraising & Donor Development

48,326.76

142,000.00

-93,673.24

34.03%

807.100 · HSHT Operations & Ambassadors

66,781.87

213,000.00

-146,218.13

31.35%

807.600 · Disability Empl Awareness-DEAM

694.00

5,000.00

-4,306.00

13.88%

6,152.13

12,000.00

-5,847.87

51.27%

3.08

0.00

3.08

100.0%

805.122 · Solicitation License Renewal

795.300 · Moving Expenses 810.310 · Miscellaneous Expense

Unaudited for Management Purposes Only

10

Page 5 of 7

The Able Trust

Accrual Basis

Profit & Loss Budget vs. Actual July 2024 through June 2025 TOTAL Actual 738.000 · Depreciation

Budget

$ Over Budget

% of Budget

0.00

3,000.00

-3,000.00

0.0%

Total Expense

5,173,899.75

6,180,061.90

-1,006,162.15

83.72%

Net Ordinary Income

2,674,302.14

Other Income/Expense Other Income 603.015 · Gain/Loss Investments-Private 662.001 · Realized Gain/Loss Invest-Priva

28,243.41

661.001 · Unrealized Gain/Loss Inv Privat

140,766.69

Total 603.015 · Gain/Loss Investments-Private

169,010.10

602.001 · Endowments & Bequests 602.101 · Endowment Contrib-Private Accts 602.196 · Account Contribution McKeon

0.00

602.197 · Account Contribution Pettengill

0.00

Total 602.101 · Endowment Contrib-Private Accts

0.00

Total 602.001 · Endowments & Bequests

0.00

602.301 · Managed Account Distributions 603.194 · Account Distribution Gallimore

29,979.00

603.198 · Account Distribution Thomas

29,022.00

602.301 · Managed Account Distributions - Other

9,051.00

Total 602.301 · Managed Account Distributions

68,052.00

661.000 · Endow. Unrealized Loss/Gain

881,185.49

663.001 · Invest Private Endow Int/Div 663.194 · Invest Private-Int/Div-Gallimor

34,429.49

663.195 · Invest Private Int/Div-Hibbard

35,387.76

663.196 · Invest Private Int/Div-McKeon

71,977.77

663.197 · Invest Private Int/Div-Petteng

3,242.63

663.198 · Invest Private Int/Div-Thomas

47,770.88

663.199 · Invest Private Int/Div-Ward

47,968.11

663.192 · Invest Private Int/Div-LeRoy

18,514.93

663.001 · Invest Private Endow Int/Div - Other

8,911.00

Total 663.001 · Invest Private Endow Int/Div

Unaudited for Management Purposes Only

268,202.57

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Page 6 of 7

Accrual Basis

The Able Trust

Profit & Loss Budget vs. Actual July 2024 through June 2025 TOTAL Actual Total Other Income

Budget

$ Over Budget

% of Budget

1,386,450.16

Other Expense 730.501 · Managed Account Fees

22,160.60

730.502 · Managed Acct Able Trust Adm Fee

50,173.57

Total Other Expense

72,334.17

Net Other Income

1,314,115.99

Net Income

Unaudited for Management Purposes Only

2,046,444.74

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Page 7 of 7

The Able Trust

Balance Sheet As of June 30, 2025 ASSETS UNRESTRICTED June 30, 2024

June 30, 2025

107.300 · CCB ArtCIE

-

86,484.04

107.200 · CCB Admin Sinking

-

332,840.19

107.100 · CCB Reserve

-

2,219,545.50

-

65,870.82

Current Assets/Bank Accounts

107.000 · CCB Operating 109.300 · ArtCIE

100,000.00

-

109.003 · ICS 716

545,580.75

0.01

109.002 · ICS 001

234,436.28

0.01

109.004 · ICS 096

147,914.03

0.01

108.000 · The First Reserve

74,412.01

22.01

109.000 · The First Operating

51,388.10

(44,510.54)

109.200 · The First Admin Sinking

279,472.04

109.001 · Petty Cash 110.061 · Morgan Stanley Smith Barney (2)

-

178.81

178.81

221,770.74

251,782.21

110.200 · Wells Fargo

72,762.95

229,970.43

Total Current Assets/Bank Accounts

1,727,915.71

3,142,183.50

Current Assets/Accounts Receivable 12000 · Undeposited Funds

-

120.001 · Accounts Rec - General

28,529.04

51,673.57

120.006 · Accounts Rec - Comm/DEAM

6,500.00

5,500.00

120.007 · Accounts Rec - SOF/DOE/VR

461,268.50

461,268.50

496,297.54

518,442.07

110.061 · Morgan Stanley Smith Barney (2)

9,071,772.68

9,153,179.50

110.200 · Wells Fargo

9,701,436.12

9,838,844.89

18,773,208.80

18,992,024.39

260.000 · Present Value-Deferred Contrib.

581,538.99

581,538.99

258.000 · Lease, right-of-use asset

25,546.50

176,297.52

607,085.49

757,836.51

205.000 · Computers

19,829.85

19,829.85

211.000 · Furniture & Fixtures

94,079.70

94,079.70

(112,769.04)

(112,769.04)

1,140.51

1,140.51

250.100 · Security Deposit

4,200.00

6,056.25

255.000 · Rec. re: Griffith Ins. Policy Estimated

97,750.00

97,750.00

Total Current Assets/Accounts Receivable

State Endowments

Total Other Current Assets

Long Term Assets

Total Long Term Assets

Fixed Assets

230.000 · Accumulated Depreciation Total Fixed Assets

Other Assets

257.000 · PFG Stock (273 shares @ $59.96) Total Other Assets

TOTAL UNRESTRICTED ASSETS

Unaudited for Management Purposes Only

13

16,369.08

16,369.08

118,319.08

120,175.33

21,723,967.13

23,531,802.31

Page 1 of 2

The Able Trust

Balance Sheet As of June 30, 2025

June 30, 2024

June 30, 2025

Private Endowments 110.020 · Pettengill Ability Fund

5.30

5.30

110.216 · McKeon Ability Fund

628,817.56

648,536.85

110.217 · Ward Ability Fund

417,515.43

430,007.68

110.215 · Hibbard Ability Fund

309,647.02

319,459.53

110.231 · Gallimore Ability Fund

660,770.16

696,558.07

110.232 · Thomas Ability Fund

914,072.41

976,779.40

110.233 · Pettengill Ability Fund

32,854.73

35,204.40

110.234 · LeRoy Ability Fund

146,424.40

151,531.14

110.235 · Cantwell Ability Fund

177,972.46

184,858.13

3,288,079.47

3,442,940.50

25,012,046.60

26,974,742.81

TOTAL MANAGED FUNDS AND ASSETS RESTRICTED AND UNRESTRICTED 25,012,046.60

26,974,742.81

Total Endowments

TOTAL ASSETS AND ENDOWMENTS

LIABILITIES & EQUITY Current Liabilities 320.000 · Accounts Payable

297,234.06

65,599.50

2110 · Direct Deposit Liabilities

(3,304.76)

(3,304.28)

320.993-999 · Payroll Liabilities

186.27

1,479.28

330.100 · Lease liability, current

26,517.53

68,094.35

321.000 · Unearned Revenue

263,523.00

263,523.00

584,156.10

395,391.85

Total Current Liabilities

Noncurrent Liabilities 330.000 · Lease liability, noncurrent Total Noncurrent liabilities

Total Liabilities

-

105,015.72

-

105,015.72

584,156.10

500,407.57

581,539.21

581,539.21

581,539.21

581,539.21

161,848.06

986,163.66

22,860,187.63

22,860,187.63

824,315.60

2,046,444.74

23,846,351.29

25,892,796.03

25,012,046.60

26,974,742.81

Deferred Inflow of Resources 270.000 · Deferred Inflow of Resources Total Deferred Inflow of Resources

Equity Retained Earnings 690.000 · Fund Balance Net Revenue Total Equity TOTAL LIABILITIES, DEFERRED INFLOWS & EQUITY

Unaudited for Management Purposes Only

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FY 2025-2026 Professional Development Dashboard Staff Member Focus Areas Allison Executive coaching, strategic delegation, Carver Policy Governance

PD Activities Bi-monthly executive coaching; Carver Policy Governance readings & subsequent work with Executive Committee

Joey

Program strategy, pilot implementation, Manage HSHT/Pre-ETS pilot; attend FPN summit; policy engagement participate in affinity groups; learn from interactions with SME/consultants

Donna

Legacy giving, major gifts strategy, team AFP LEAD; Planet Philanthropy; monthly development fundraising coaching

Tracey

Nonprofit communications strategy, brand visibility, analytics Fundraising strategy, donor engagement, AI in philanthropy

Leanne

Justin Coleen Arnaldo

Join FPRA; Google Analytics training; nonprofit comms learning IU Lilly courses (Stewardship & AI); AFP membership; conferences

Design fundamentals, digital marketing, Canva design courses; HubSpot marketing creative storytelling tutorials; AMA membership Transition programs, Foundant training, 6+ transition webinars; Foundant conference; 2+ AI exploration AI tool demos QuickBooks proficiency, nonprofit QuickBooks training series; monthly bookkeeping, audit prep reconciliation; support audit readiness; coaching from Itinerant CFO

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Defined Outcome Strengthen capacity to lead a high-performing leadership team, support succession and delegation across the organization, and use the Carver Policy Governance model to align board oversight, staff execution, and measures of impact.

Strengthen strategic leadership, operational oversight, people management, external engagement, and executive readiness.

Timeline

By June 30, 2026

By June 30, 2026

Strengthen skills in donor development, legacy giving By June 30, 2026 strategy, and nonprofit leadership Improved communications performance

By June 30, 2026 measurement and outreach strategy Strengthen effectiveness as part of the development By June 30, 2026 team through increased donor engagement and modernized stewardship approaches Expanded visual branding capabilities and content development capacity Increase capacity in program evaluation and technology integration Increased internal finance efficiency and readiness for audits

By June 30, 2026

By June 30, 2026

By June 30, 2026

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Vision: A Florida where all people with disabilities reach their employment potential.

Mission: To support Florida Vocational Rehabilitation in the advancement of employment for all Floridians with disabilities through engagement, investment, and collaboration.

Strategic Priority #1: Expand The Able Trust youth programs to serve 5,000 students annually by FY 2027 2028.

FY25 Key Performance Indicators • Serve 1400 students. 1960 • Fund & support 46 High School High Tech (HSHT) & 20 Futures in Focus sites. Achieved • 100% of HSHT students referred to VR. Achieved • Develop & implement a formal system of program evaluation.

Achieved & Expanding • Create a research plan for youth programs. Achieved & Implementing

Strategic Priority #2: Secure a more diversified funding base to ensure organizational stability and achieve exponential impact. Raise $12 million in 4 years.

FY25 Key Performance Indicators • Raise $625k in new funds, 50% of which will be unrestricted dollars. $1.7 million • Maintain $2.8 million in current income (investments, legislative, grants, donors, sponsors).

Achieved

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Strategic Priority #3: Provide focused support for VR. FY25 Key Performance Indicators • Invest $60k in VR directed expenses for marketing materials and employee recognition.

Achieved • Refer 100% HSHT students to VR. Achieved • Recognize VR in all communication tools. Achieved • Act as ArtCIE subcontract manager. Achieved • Invest up to $200k in VR professional development initiatives. $139,967

Vision: A Florida where all people with disabilities reach their employment potential.

Mission: To support Florida Vocational Rehabilitation in the advancement of employment for all Floridians with disabilities through engagement, investment, and collaboration.

Strategic Priority #1: Expand The Able Trust youth programs to serve 5,000 students annually by FY 2027 2028.

FY26 Key Performance Indicators • Serve 2600 students.

• Maintain 99% graduation rate.

• 42% of HSHT seniors complete FAFSA. • Develop a HSHT/Pre-ETS model in partnership with VR. Create an implementation plan based on learnings.

• Develop a post-secondary readiness tool.

• Implement research plan for youth programs.

Lean Impact Model*

Strategic Priority #2: Secure a more diversified funding base to ensure organizational stability and achieve exponential impact. Raise $12 million in 4 years.

FY26 Key Performance Indicators • Raise $1.2M in new funds, 60% of which will be unrestricted dollars.

• Maintain $3.1 million in current income (investments, legislative, grants, donors, sponsors).

• Grow state support through contracted Pre-ETS services and legislative budget requests.

Strategic Priority #3: Provide focused support for VR. FY26 Key Performance Indicators • Create a $1M revolving fund for HSHT/Pre-ETS sites’ start-up costs • Invest $60k in VR directed. expenses for marketing materials and employee recognition.

• Refer 100% HSHT and FinF students to VR. • 80% of HSHT students will obtain a key VR metric (i.e., Measurable Skills Gains, Credential Attainment).

• Recognize VR in all communication tools.

• Invest up to $300k in VR directed projects and initiatives.

Embedded Tools and Strategies Major Gifts Ramp Up** Internal Engagement, Communication & Research Plans

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*Lean Impact Model ©Ann Mei Chang 2018

**Major Gifts Ramp Up

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More than 61% of Students with Disabilities Participating in High School High Tech Plan to Enroll in Postsecondary Education The High School High Tech (HSHT) program results for the 2024-25 school year are now available and show 61.7 percent of HSHT graduates plan on continuing on to some form of postsecondary education.

"We are so proud of the hard work of our High School High Tech students,” said Allison Chase, President and CEO of The Able Trust. "This increase in the postsecondary enrollment rate is evidence that our program helps students see and plan for a brighter future ahead.”

Preparing Students for the Future According to the latest statewide data, 28 percent of Florida students with disabilities pursue education or training after high school compared to 61.7 percent of High School High Tech students who plan on pursuing postsecondary education. The Able Trust HSHT program ensures students with disabilities graduate from high school, increases their awareness of postsecondary options and promotes employment readiness.

High School High Tech students participate in: • School-based preparatory experiences, • Career preparation and work-based learning, • Connecting activities, • Youth leadership and development projects, and • Family involvement activities.

By empowering students to realize their potential and helping build the workforce of tomorrow, The Able Trust is investing in a brighter future for students with disabilities in communities across Florida.

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Futures in Focus Reaching More Students With the support of the Florida Legislature and the Florida Department of Education, The Able Trust's Futures in Focus program reached more than 600 students during the 2024-25 school year. This program, in partnership with the Consortium of Florida Education Foundations, also included students with disabilities in middle school, giving them a preview of some of the opportunities available in High School High Tech.

To learn more about High School High Tech and additional highlights throughout the year, view The Able Trust 2024-25 Impact Report, by clicking here.

Employment of Floridians with Disabilities Growing The Able Trust's 2025 Annual Census Update indicates Florida's population of people with disabilities is growing. As this population increases, the good news is the number of Floridians with a disability who are employed is also increasing. Despite this increase, only 23.0 percent of working-age Floridians with a disability are employed, compared to 57.4 percent of those without a disability.

As we look at this employment gap, it's vital that Florida's youth with disabilities prepare for their future by continuing on to postsecondary education after high school. Florida has adopted the SAIL to 60 initiative that aims to increase the percentage of workingage adults in Florida who hold a high- value postsecondary certificate, degree or training experience to 60 percent by the year 2030. This goal is important for all Florida students including students with disabilities.

With a high school graduation rate of 99 percent and a postsecondary enrollment rate of 61 percent, The Able Trust's youth programs are life-changing, helping students successfully transition from high school to the next step in their future.

To view 2025 Census Data At a Glance, click here.

The Able Trust, also known as the Florida Endowment Foundation for Vocational Rehabilitation, is a 501(c)(3) public charity established by the Florida Legislature in 1990 as a direct support organization for the Florida Division of Vocational Rehabilitation. Its mission is to advance employment for Floridians with disabilities through engagement, investment, and collaboration.

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FY 2024-2025 Milestones The Able Trust celebrated the 30th anniversary of High School High Tech (HSHT), our premier program for introducing students with disabilities to postsecondary education and career opportunities.

30th Anniversary

AdventHealth invested $350,000 in The Able Trust youth programs, expanding these programs in Orange, Osceola and Seminole counties.

Futures in Focus Expands

New Funding

New legislative funding ensured the expansion of Futures in Focus, an education and career exploration program.

HIGH SCHOOL HIGH TECH Career- and college-readiness skills are vital to success after high school. The Able Trust High School High Tech (HSHT) program helps students with disabilities across Florida plan and prepare for postsecondary education and career opportunities after graduation.

The Able Trust administers High School High Tech in partnership with the Florida Department of Education's Division of Vocational Rehabilitation (FDOE/VR).

High School High Tech students are given the opportunity to explore post-secondary education and in-demand career options. Students participate in education tours, work-based experiences, workshops and more. In addition to ensuring students graduate from high school, another important outcome of HSHT is an increased postsecondary enrollment rate.

The Able Trust youth programs are community-based partnerships that are making a difference in the lives of students with disabilities, offering many students a future they might not have thought possible.

An important milestone for the future of any student is successfully graduating from high school. Results are in for the 2024-25 school year and 99% of High School High Tech seniors graduated from high school.

The Able Trust received $500,000 from Helios Education Foundation to focus on advancing Florida student postsecondary success.

Leadership Recognition

New Funding

The Able Trust recognized Florida Senator Nick DiCeglie as Legislator of the Year for his outstanding support of our programs for students with disabilities.

High School High Tech Expands

High School High Tech expanded to include programs in Dixie, Martin, Okeechobee and Taylor counties.

High School Graduation Rate: 99%

The Able Trust Major Gifts Campaign To Date: $ 3,332,500

Postsecondary Enrollment Rate: 61%

Fundraising Total

Postsecondary education is an important step in becoming successfully employed. For the 2024-25 school year, 61% of HSHT seniors plan to go on to postsecondary education.

TESTIMONIALS “Supporting The Able Trust isn't just about giving—it's about seeing real change happen in my community and across the state. Every dollar invested turns into opportunities, empowerment, and tangible impact. I take pride in knowing my contribution helps create a stronger, more dynamic workforce for Florida.”

Jay Newman The Able Trust Donor “High School High Tech helped my son plan for the future. That’s when he figured out what he wanted to study. He’s a problem-solver and he takes the initiative to help others. Without High School High Tech, he would not have had these opportunities.”

Crystal Jackson Parent of HSHT Student

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ABOUT THE ABLE TRUST The Florida Endowment Foundation for Vocational Rehabilitation, also known as The Able Trust, was legislatively created in 1990 to serve as the direct support organization for the FDOE/VR to encourage public and private support to enhance vocational rehabilitation and the employment of Floridians with disabilities.

An Overview of Floridians with Disabilities Annual Census Data At a Glance

POPULATION

2,924,178 Florida’s population is increasing, and with this growth, the number of Floridians with a disability has also increased.

EDUCATIONAL ATTAINMENT

Florida has adopted the SAIL to 60 initiative that aims to increase the percentage of working-age adults in Florida who hold a highvalue postsecondary certificate, degree or training experience to 60% by 2030.

The educational attainment gap between people with a disability and those without is minimal at the associates degree level. However 35.8% of the group with no disability have a bachelor’s degree or higher compared to 22.1% with a disability

EARNINGS According to the Florida College Access Network, “In Florida, average worker annual earnings increase from $34,769 for those with a high school diploma to $56,243 for those with a four-year degree.”

The gap in education attainment between students with disabilities and students with no disability means a gap also continues to exist in earnings of both groups.

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An Overview of Floridians with Disabilities Annual Census Data At a Glance

EMPLOYMENT

22.9%

Florida is Making Progress As the population of people with a disability increases in Florida, employment among people with disabilities is also growing, increasing by nearly 23% from 2019 to 2023.

Employment Gap = Opportunity Despite this growth, only 23% of Floridians with disabilities are employed — compared to 57.4% of those without disabilities.

This employment gap represents an opportunity. People with disabilities are ready and willing to work and they represent a high quality, untapped talent pool.

OCCUPATION When looking at the occupations of Floridians with a disability, they are less likely to be in the Management, Business, Science, and Arts category than those with no disability. When broken down by industry, persons with a disability are more likely to work in Retail Trade, Public Administration, and “Other Services,” and less likely to work in the Financial Activities and the Education & Health Services industries.

Established by the Florida Legislature in 1990, The Able Trust is a 501(c)(3) public charity. As the direct support organization for the Florida Division of Vocational Rehabilitation, The Able Trust supports efforts to raise awareness and increase employment opportunities of Floridians with disabilities.

Today’s students are our future workforce, and The Able Trust youth programs support students with disabilities by providing transition services to ensure students with disabilities graduate from high school, and improve their participation in education, vocational and employment-related activities following graduation.

To learn more about The Able Trust and to download the complete Annual Census Update, visit www.abletrust.org.

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