2021
STAKEHOLDER REPORT Q2
TABLE OF CONTENTS 03
Our Update
04
Progress Report
07
Mission Dashboard
08
Mariah's Story
10
Monthly Financials
stakeholder report q1 | Page 02
OUR UPDATE This quarter, we took the plunge into being all-in for our new South Metro location. July was spent coming up with the best possible facility plans and recruiting hard for our pilot cohort in Englewood. Our partnership with Wellspring Church has been a huge gift; they’ve not only provided space for us to facilitate admissions testing for new applicants, but their staff and congregation have mobilized as volunteers to fill many upcoming needs. Other church partners in the area including Fellowship Denver, Sacred Grace, and Sanctuary Christian Fellowship are also excited about getting involved. While we look forward to what’s ahead, we continue to celebrate current successes. Our final numbers for 2020 are in - in a pandemic year, we actually exceeded our expected number of graduates with 124 total Leaders entering new careers. Now, it’s a joy to have all of our Leaders back in our building in person for their classes and training. In July we enjoyed a “return to normal” graduation ceremony, complete with family, friends, and pomp and circumstance for 36 Leaders. NPX, a philanthropy aggregator, selected us as a recipient of their Colorado Donor Impact Fund. Their new “pay for success” model awards us $1M based on proven metrics of work in our field. I’m thankful for their support and look forward to what this partnership will bring in the future. Personally, I look forward to taking extended time away with my family in August. We’ll celebrate my oldest son’s wedding, drop off my third son at college, and my wife and I will take a trip to celebrate our 25th wedding anniversary. God is good and I’m thankful for a team that makes it possible for me to prioritize these milestones in my family! Sincerely,
Jason Janz, CEO
stakeholder report q2 | Page 03
PROGRESS REPORT PEOPLE
Staff & New Hires: We’ve hired some new major positions, specifically a South Metro Program Director, Matthew Daniels, and a Chief Development Officer, Casey Johns. Both have come highly recommended and we’re excited about having them on the team. Best Places to Work: We are actively advertising this award, and are doing a special all-staff celebration in early August. We're hiring for a few open positions, listed below: Career Coach Alumni Administrative Assistant If you would like to refer a candidate for any of these positions, please contact Brian Anderson, at banderson@crosspurpose.org.
stakeholder report q2 | Page 04
PROGRESS REPORT STRATEGY
Scaling: We are learning what it looks like to partner with a new site and are working towards a final Affiliation Agreement and Facility Use Agreement with our partner, Wellspring Church, for our next location. We're on track to open our first pilot cohort on September 7th, and are excited and learning a lot together. While our facility and tenant improvement timeline is still in the works, we are strategizing between the most cost-efficient option and the space that gives the most dignity and care to our Leader and staff. EXECUTION
Recruitment: With three classes to recruit in an 18 week window, we are doubling down on marketing and partner strategies and have a summit scheduled with House of Revenue to ensure our strategy is targeted for our ideal candidate, and our Scaling Team is centering around Recruitment for an ‘all hands on deck’ approach to South Metro success. Facility Construction Plan at South Metro: Our permit has been submitted for the Broadway Building. We are waiting to see if our permit can get an early approval, but are planning for a construction start date on August 9th. Furniture is being ordered this week, and we are planning to have all we need in place in the event that we need to start our first weeks of Personal Development in the Well rather than the Broadway Building. Scaling Team: This team has shifted to meeting on a weekly basis. Currently, we are 20% behind pace in the overall project, but continue to adjust and move forward. Church Partnerships: We are finding a date to sit down with Wellspring and sign our Lease and MOU this month. We are also within 90 days of finalizing two more partnerships with Fellowship Denver Church and Sanctuary Church. This includes signing up for giving, volunteering, discipling, referring, employing and connecting. Content Development: We published our official video announcement of the South Metro expansion today, and our Communications team is working on publishing our 2020 Annual Report by end of August. Community Engagement: We have contacted 64 local organizations in South Metro and met with 36 of them to date. We’re receiving overwhelmingly positive feedback and invitations from nonprofits, churches, businesses and community organizations.
stakeholder report q2 | Page 05
PROGRESS REPORT CASH
Incoming Funding: We are currently sitting at 30 days of cash, and are waiting on 3 major checks ($100,000, $250,000 and $1,000,0000 respectively). Overall, converting from commitments to cash received has been a slow process this year. Construction Cost: The all-in costs for Phase 1 of the Tenant Improvements is about $525,000. We have currently raised $200,000 that is to be allocated for this project, and a remaining $500,000 committed for program costs for the expansion.
stakeholder report q2 | Page 06
MISSIONAL DASHBOARD TOTAL GRADUATES
TOTAL PEOPLE OUT OF POVERTY
508
1270
Last Updated: 2021 Q1
2020 ANNUAL WEALTH GENERATED
$11.27M ALUMNI RETENTION
TOTAL ALLIES
TOTAL FAMILY SIZE
465
2,950
75% AVERAGE ALUMNI WAGE
$17.33 LAST 12 MONTHS: GRADUATES & AVERAGE WAGE C2 - 23 GRADUATES
C4 - 35 GRADUATES
$16.91 AVG WAGE
$18.26 AVG WAGE
2020 GRADUATES
124
C3 - 34 GRADUATES
C1 - 30 GRADUATES
$16.86 AVG WAGE
$19.53 AVG WAGE
COHORTS GRADUATED SINCE 2012
24
stakeholder report q2 | Page 07
MARIAH'S STORY Like many other restaurant employees, Mariah found herself suddenly unemployed at the onset of COVID in 2020. Rather than looking for a new opportunity in the same industry, she decided to look for something more stable for her family by joining CrossPurpose. Fast forward one year to Mariah's graduation and new career at a sales and marketing firm. Her determination and resilience have already driven her towards two promotions and a new life for her family, and she's just getting started.
"My career path has so many areas for growth with no limits." - Mariah, April Graduate
LISTEN TO MARIAH'S STORY:
www.youtube.com/watch?v=1gwni3vqE5A
stakeholder report q2 | Page 08
3050 Richard allen court, denver, co 80205 www.crosspurpose.org
Profit & Loss Budget vs. Actual January through June 2021
Jan - Jun 2021 Income 4000 · Contributions 4001 · Individuals 4002 · Churches 4003 · Businesses 4004 · Foundations 4005 · In Kind Donations Total 4000 · Contributions 4400 · Government Grants 4408 · TANF Denver 4409 · SNAP Denver 4400 · Government Grants - Other Total 4400 · Government Grants 4500 · Program Income 4501 · Program Fees & Services 4503 · Consulting Total 4500 · Program Income 4700 · Other Income 4701 · Interest Income 4702 · Miscellaneous 4703 · Dividends Total 4700 · Other Income Total Income Gross Profit Expense 66900 · Reconciliation Discrepancies Personnel 5000 · Salaries & Wages 5100 · Benefits 5200 · Employer Payroll Taxes Total Personnel
109,156 8,100 10,545 924,986 111,120 1,163,907
Restricted Funds
Actual Less Restricted
YTD Budget
19,872
49,797
89,284 8,100 10,545 895,061 111,120 1,114,110
278,125 251,100 144,550 1,543,935 93,120 2,310,830
(188,841) (243,000) (134,005) (648,874) 18,000 (1,196,720)
32% 3% 7% 58% 119% 48%
742,500 502,200 289,100 3,087,870 186,240 4,807,910
170,000 60,000
(43,712) 122,476
74% 304%
0
126,288 182,476 0 308,764
230,000
78,764
134%
340,000 120,000 342,130 802,130
3,000
(2,920)
3%
6,000
0
80 16,553 16,633
3,000
13,633
554%
6,000
0 49,797 49,797
260 3,587 0 3,847 1,443,354 1,443,354
210 2,520 500 3,230 2,547,060 2,547,060
50 1,067 (500) 617 (1,103,706) (1,103,706)
124% 142% 0% 119% 57% 57%
420 5,040 1,000 6,460 5,622,500 5,622,500
1,268,905 152,615 97,071 1,518,591
(175,220) (44,031) (22,986) (242,237)
86% 71% 76% 84%
2,651,671 320,329 202,853 3,174,853
29,925
126,288 182,476 308,764 80 16,553 16,633 260 3,587 0 3,847 1,493,151 1,493,151 50 1,121,565 108,584 74,085 1,304,234
Variance
% of Budget
Annual Budget
Notes
1
50 27,880
27,880
1,093,685 108,584 74,085 1,276,354
2
38
YTD P&L Page 1 of 2
Profit & Loss Budget vs. Actual January through June 2021
Jan - Jun 2021 Operations 6001 · Audit 6002 · In Kind Donations Expense 6003 · Office Supplies 6004 · Printing and Copying 6006 · Uncategorized Expenses 6007 · Technology 6200 · Fees 6300 · Insurance 6400 · Fund Development 6500 · Occupancy Expenses 6508 · Depreciation Expense 7001 · Program Promotion 7002 · Assessments 7003 · Background & Drug Test 7004 · Materials & Supplies 7005 · Adjunct Teachers 7006 · Stipends 7007 · Relief Fund 7008 · Program Counseling 7009 · Education Fund 7010 · Program Events 7011 · Childcare 7012 · Food & Meal Supplies 7013 · Facility Rental 7016 · Program Contingency 7017 · Transportation & Travel 7100 · Organizational Culture Total Operations Total Expense Net Income
1 2 3 4 5
13,318 93,120 4,735 10,306 3,900 80,842 98,267 18,302 16,580 27,459 193,435 53,043 4,688 10,075 25,238 22,703 100,535 6,677 3,420 76,941 57,005 3,259 15,472 0 0 1,852 114,642 1,055,814 2,360,098 (866,947)
Restricted Funds
645
2,431 17,648
613
6,285
2,000
34,579
40 580 64,821 92,701 (42,904)
Actual Less Restricted 13,318 93,120 4,090 10,306 3,900 78,411 80,619 18,302 16,580 26,846 193,435 53,043 4,688 10,075 18,953 22,703 100,535 4,677 3,420 76,941 22,426 3,259 15,472 0 0 1,812 114,062 990,993 2,267,397 (824,043)
YTD Budget
Variance
% of Budget
Annual Budget
13,300 93,120 6,775 11,896
18 0 (2,685) (1,590)
100% 100% 60% 87%
13,300 186,240 13,550 25,328
81,234 67,960 22,779 29,500 37,506 196,200 87,862 9,040 10,050 27,522 10,400 142,147 12,500 7,363 112,770 30,040 9,000 24,900 1,200 42,658 6,461 105,984 1,200,167 2,718,758 (171,698)
(2,823) 12,659 (4,477) (12,920) (10,660) (2,765) (34,819) (4,352) 25 (8,569) 12,303 (41,612) (7,823) (3,943) (35,829) (7,614) (5,741) (9,428) (1,200) (42,658) (4,649) 8,078 (209,174) (451,361) (652,345)
97% 119% 80% 56% 72% 99% 60% 52% 100% 69% 218% 71% 37% 46% 68% 75% 36% 62% 0% 0% 28% 108% 83% 83% 480%
132,768 132,020 48,311 60,000 76,578 392,400 203,147 24,900 22,545 44,170 19,300 323,294 29,750 14,725 224,804 62,550 23,450 61,957 2,200 85,315 12,556 212,488 2,447,646 5,622,499 1
Notes
3
4
5
2020 PPP Loan was forgiven the first week of July Anticipating personnel savings to decrease as the year progresses Over budget due to House of Revenue partnership and outsourcing a fundraising position Contract position added instead of staff position Community partnership with former employee
39
YTD P&L Page 2 of 2
Restricted Funds Profit & Loss January through June 2021
Endowment Income 4000 · Contributions 4001 · Individuals 4004 · Foundations Total 4000 · Contributions
1,000
Total Income Gross Profit Expense Personnel 5000 · Salaries & Wages Total Personnel Operations 6003 · Office Supplies 6007 · Technology 6200 · Fees 6500 · Occupancy Expenses 7004 · Materials & Supplies 7007 · Relief Fund 7010 · Program Events 7017 · Transportation & Travel 7100 · Organizational Culture Total Operations Total Expense Net Income
Change Agents
Aspen Family Grant
1,000
919 29,925 30,844
1,000 1,000
Total Restricted Funds
House of Revenue
COVID
305
17,648
0
305
17,648
19,872 29,925 49,797
30,844
0
305
17,648
49,797
30,844
0
305
17,648
49,797
27,880 0
0
27,880
27,880 0
0
645 2,431 17,648 613 1,282 2,000
5,004 34,579
0 0 1,000
39,583 39,583 (8,739)
40 80
500
120 28,000 (28,000)
7,471 7,471 (7,166)
17,648 17,648 0
27,880 645 2,431 17,648 613 6,286 2,000 34,579 40 580 64,822 92,702 (42,905)
40 Restricted P&L Page 1 of 1
Functional Allocation Profit & Loss January through June 2021 Jan - Jun 2021 Expense 66900 · Reconciliation Discrepancies Personnel 5000 · Salaries & Wages 5100 · Benefits 5200 · Employer Payroll Taxes Total Personnel Operations 6001 · Audit 6002 · In Kind Donations Expense 6003 · Office Supplies 6004 · Printing and Copying 6006 · Uncategorized Expenses 6007 · Technology 6200 · Fees 6300 · Insurance 6400 · Fund Development 6500 · Occupancy Expenses 6508 · Depreciation Expense 7001 · Program Promotion 7002 · Assessments 7003 · Background & Drug Test 7004 · Materials & Supplies 7005 · Adjunct Teachers 7006 · Stipends 7007 · Relief Fund 7008 · Program Counseling 7009 · Education Fund 7010 · Program Events 7011 · Childcare 7012 · Food & Meal Supplies 7013 · Facility Rental 7016 · Program Contingency 7017 · Transportation & Travel 7100 · Organizational Culture Total Operations Total Expense
Functional Allocation Percentages 2021 Goal Percentages Variance
Administration
Fundraising
Program
50
50
1,121,565 108,584 74,085
206,702 26,886 11,891
127,163 12,596 8,180
787,699 69,103 54,014
1,304,234
245,479
147,939
910,816
13,318 93,120 4,735 10,306 3,900 80,842 98,267 18,302 16,580 27,459 193,435 53,043 4,688 10,075 25,238 22,703 100,535 6,677 3,420 76,941 57,005 3,259 15,472 0 0 1,852 114,642
13,318 5,587 3,002 1,936 284 20,638 12,093 1,554
4,656 411 179 409 11,780 49,230 1,163 16,580 1,359 9,672 2,444
82,877 1,323 8,190 3,207 48,424 36,944 15,585
1,296 11,606
24,805 172,157 50,599 4,688 9,752 25,238 22,703 100,535 6,677 3,420 76,941 57,005 3,259 15,472
307
16
1,289 40,189
434 6,172
130 68,281
1,055,814 2,360,098
113,099 358,628
104,505 252,444
838,212 1,749,028
100% 100%
15.2% 15.8%
10.7% 10.9%
74.1% 73.3%
-0.6%
-0.2%
0.8%
41 Functional Allocation P&L Page 1 of 1
2021 vs 2020 Profit & Loss January through June 2021
Income 4000 · Contributions 4001 · Individuals 4002 · Churches 4003 · Businesses 4004 · Foundations 4005 · In Kind Donations Total 4000 · Contributions 4400 · Government Grants 4405 · TANF Douglas County 4408 · TANF Denver 4409 · SNAP Denver Total 4400 · Government Grants 4500 · Program Income 4501 · Program Fees & Services 4503 · Consulting Total 4500 · Program Income 4700 · Other Income 4701 · Interest Income 4702 · Miscellaneous 4703 · Dividends Total 4700 · Other Income Total Income Gross Profit Expense 66900 · Reconciliation Discrepancies Personnel 5000 · Salaries & Wages 5100 · Benefits 5200 · Employer Payroll Taxes Total Personnel Operations 6001 · Audit 6002 · In Kind Donations Expense 6003 · Office Supplies 6004 · Printing and Copying 6006 · Uncategorized Expenses 6008 · Reimbursable Expenses 6007 · Technology 6200 · Fees 6300 · Insurance 6400 · Fund Development 6500 · Occupancy Expenses 6507 · Building/Construction 6508 · Depreciation Expense 7001 · Program Promotion 7002 · Assessments
Jan - Jun 2021
Jan - Jun 2020
Variance
% Change
109,156 8,100 10,545 924,986 111,120 1,163,907
59,859 600 151,115 1,365,318 93,222 1,670,114
49,297 7,500 (140,570) (440,332) 17,898 (506,207)
82% 1,250% (93%) (32%) 19% (30%)
0 126,288 182,476 308,764
20,955 88,374 79,968 189,297
(20,955) 37,914 102,508 119,467
(100%) 43% 128% 63%
80 16,553 16,633
3,178 144,567 147,745
(3,098) (128,014) (131,112)
(97%) (89%) (89%)
260 3,587 0 3,847 1,493,151 1,493,151
245 3,439 1,344 5,028 2,012,184 2,012,184
15 148 (1,344) (1,181) (519,033) (519,033)
6% 4% (100%) (23%) (26%) (26%)
50
0
50
100%
1,121,565 108,584 74,085 1,304,234
902,091 97,458 62,938 1,062,487
219,474 11,126 11,147 241,747
24% 11% 18% 23%
13,318 93,120 4,735 10,306 3,900 0 80,842 98,267 18,302 16,580 27,459 0 193,435 53,043 4,688
7,258 93,120 2,858 8,191 0 0 39,522 139,257 15,308 11,703 32,327 0 181,409 44,339 2,175
6,060 0 1,877 2,115 3,900 0 41,320 (40,990) 2,994 4,877 (4,868) 0 12,026 8,704 2,513
83% 0% 66% 26% 100% 0% 105% (29%) 20% 42% (15%) 0% 7% 20% 116%
Notes
1
1
2
3 4
2021 42 vs 2020 P&L Page 1 of 2
2021 vs 2020 Profit & Loss January through June 2021
7003 · Background & Drug Test 7004 · Materials & Supplies 7005 · Adjunct Teachers 7006 · Stipends 7007 · Relief Fund 7008 · Program Counseling 7009 · Education Fund 7010 · Program Events 7011 · Childcare 7012 · Food & Meal Supplies 7017 · Transportation & Travel 7100 · Organizational Culture Total Operations Total Expense Net Income
1 2 3 4 5 6 7
Jan - Jun 2021
Jan - Jun 2020
Variance
% Change
10,075 25,238 22,703 100,535 6,677 3,420 76,941 57,005 3,259 15,472 1,852 114,642 1,055,814 2,360,098 (866,947)
6,401 15,629 857 118,000 7,349 4,200 70,583 23,807 3,354 10,344 1,382 39,823 879,196 1,941,683 70,501
3,674 9,609 21,846 (17,465) (672) (780) 6,358 33,198 (95) 5,128 470 74,819 176,618 418,415 (937,448)
57% 61% 2,549% (15%) (9%) (19%) 9% 139% (3%) 50% 34% 188% 20% 22% (1,330%)
Notes
5
6
7
Decrease due to the end of the Cherry Hills Community Church partnership Increase due to COVID delayed hiring and hiring for scale Many software subscriptions used for day-to-day operations 2020 was inflated due to fiscal agent partnership with Activate 2021 higher due to contract partnership Increase from Alumni Change Agency Staff acquisition and community partnership responsible for increase
2021 43 vs 2020 P&L Page 2 of 2
Balance Sheet As of June 30, 2021
ASSETS Current Assets Checking/Savings 10000 · CP Operating 10000.4 · Change Agency 10000.6 · COVID Fund 10000.8 · Aspen Family Prosperity Grant 1000.11 · Endowment 10000 · CP Operating - Other Total 10000 · CP Operating 10100 · CP Restricted Funds 10200 · CP Reserve Funds Total Checking/Savings Accounts Receivable Other Current Assets Total Current Assets Fixed Assets Other Assets 18300 · Investments 18400 · Loans Receivable Total Other Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Credit Cards Other Current Liabilities Total Current Liabilities
Dec 31, 18
Dec 31, 19
Dec 31, 20
Apr 30, 21
May 31, 21
Jun 30, 21
0 0 0 0 249,198 796,430 29,827 134,333 1,124,269 196,906 25,176 1,346,351 2,206,353
39,505 0 0 0 310,580 1,111,125 10,697 800,000 1,921,822 1,805 182,422 2,106,049 2,510,967
80,530 27,474 47,494 0 795,035 950,533 1,915 800,446 1,752,894 131,220 471,285 2,355,399 2,190,917
72,484 22,667 42,334 0 796,029 933,514 1,846 1,093,919 2,029,279 149,603 5,580 2,184,462 2,282,842
72,084 20,831 29,149 3,500 572,902 698,466 1,500 1,093,961 1,793,927 188,910 0 1,982,837 2,267,700
71,791 20,309 19,494 1,000 616,795 729,389 1,500 1,094,010 1,824,899 157,163 0 1,982,062 2,249,437
148 0 11,809 3,564,513
194,875 0 194,875 4,811,891
369,301 0 369,301 4,915,617
170,030 0 170,030 4,637,334
170,030 0 170,030 4,420,567
165,815 10,000 175,815 4,407,314
402,485 38,149 93,389 534,023
804,014 55,148 109,128 968,290
118,086 32,480 71,420 221,986
16,364 22,120 125,036 163,520
15,364 28,771 128,776 172,911
23,759 26,330 162,700 212,789
Notes
1 2
2
3
4
44 Balance Sheet Page 1 of 2
Balance Sheet As of June 30, 2021
Long Term Liabilities 23100 · Providence Building Loan 1001 · PPP BB-SBA Loan 2020 1002 · PPP BB-SBA Loan 2021 1003 · NPX Total Long Term Liabilities Total Liabilities Equity 31500 · Net assets with restriction 31507 · Change Agency 31509 · COVID 31511 · Aspen Family Prosperity Grant 31513 · Endowment Total 31500 · Net assets with restriction 32000 · Net assets without restriction Net Income Total Equity TOTAL LIABILITIES & EQUITY
Dec 31, 18
Dec 31, 19
Dec 31, 20
Apr 30, 21
May 31, 21
Jun 30, 21
350,000 0 0 0 350,000 884,023
200,000 0 0 0 200,000 1,168,290
182,875 342,141 0 0 525,016 747,002
182,875 342,141 342,840 0 867,856 1,031,376
182,875 342,141 342,840 0 867,856 1,040,767
182,875 342,141 342,840 25,000 892,856 1,105,645
0 0 0 0 565,450 (331,756) 2,446,795 2,680,489 3,564,512
39,505 0 0 0 48,702 2,631,788 963,112 3,643,602 4,811,892
80,530 27,474 47,494 0 155,913 3,487,689 525,014 4,168,616 4,915,618
72,484 22,667 42,334 0 137,831 4,030,786 (562,660) 3,605,957 4,637,333
72,084 20,831 29,149 3,500 125,564 4,043,052 (788,817) 3,379,799 4,420,566
71,791 20,309 19,494 1,000 112,594 4,056,022 (866,945) 3,301,671 4,407,316
Notes
5
6
Funds to be transferred to the Endowment General operating funds 3 18 month equipment loan to Alumni business owner covered by donor support 4 Month-to-month payroll accruals 5 Loan forgiven in July 6 First investment for NPX 1 2
45 Balance Sheet Page 2 of 2