2020 END OF YEAR
STAKEHOLDER REPORT
2020 YEAR IN REVIEW
Our Update Dear Stakeholder Family, This is the year that would never end! With all the fears about provision and program, our year ended well. I’m thrilled to report that we graduated the same number of leaders DURING THE PANDEMIC that we did with no pandemic! Also, we ended the year in the black financially and our bills are paid with a little bit of powder to start the new year. Thanks so much for sticking with us through our most difficult year. Five years ago, we went on a journey to get 1,000 men, women, and children out of poverty. I’m happy to report we made that goal! Now, we embark on a journey to get 2,025 graduates (5,000 men, women, and children) by 2025. We look forward to walking together on this great journey! Gratefully,
Jason Janz, CEO
Organizational Goals 1. Graduate 120 Leaders with an average wage of $16/hr With our third and fourth cohorts of 2020 still active, we'll report our final numbers after the last class graduates this summer. To date, we are on track to hit our goal, and our current average wage for 2020 classes is $17.40. 2. Raise $4 million for operating funds ($3.6M) and reserve funds ($400,000). Thanks to your incredible support, we ended the year strong with expenses just below our $4M budget, and raised about $4.5M in total contributions this year. Our PPP loan will be forgiven in 2021, which means we have a jumpstart for next year, and today have about 3 months of cash reserves. 3. Implement Scaling Up systems across all departments. While working remotely has slowed the pace of this goal, we are on track to implement these systems across the organization (includes daily stand up meetings, KPI tracking and monthly departmental reporting meetings). We have also been increasing our hiring efforts to prepare our team to be onboarded, trained and ready to launch our next location in Englewood in the fall of 2021. 4. Create the 5-year strategic plan for 2021-2025. The 5-Year Strategic Plan draft was approved by the CrossPurpose Board, and you can read more about it here. 5. Facilitate and enable Leader graduates to access re-employment services through CrossPurpose post-COVID-19. After surveying our entire alumni pool of 323 graduates at the onset of the pandemic, 46 graduates began to actively engage in re-employment services. We set a goal to help at least 40% of these graduates to get back to work in 2020, and we're happy to report we exceeded this goal by 10%, helping 23 graduates regain employment.
Organizational Goals 6. Cut the overall budget from $5.1M to $4M (22% cut) due to COVID-19. We adjusted the overall budget in light of the pandemic to account for an increased demand in services and a decreased projection of revenue. The budget cuts were approved by the board in May. 7. Keep Cost per Graduate within 15% of 2019’s costs ($24,761). With higher costs due to COVID and a smaller number of Leaders than anticipated in 2019, we adjusted our maximum cost per graduate goal to $26,456. While our final number won't be determined until the last of the 2020 cohorts graduate (July 2021), we are currently on track to land below our maximum goal.
Departmental Updates Recruitment & Admissions Update Annual Goals 103%
1. Recruit and accept 320 Leaders. 2. Get 215 Leaders in class on day one. 3. Accept 84 Allies.
100% 70%
Review
Our recruitment and admissions departments are stronger than they have ever been. Thanks to a quick pivot to online applications and admissions, we were able to meet the rapidly increasing need of people in our neighborhood. We now have a waiting list for every cohort, and we are excited to be able to help serve more Leaders as we expand. Lastly, we did find it challenging to recruit Allies for a six-month commitment during a virtual program model. By hiring a full-time Volunteer Coordinator at the onset of 2021, we hope to boost these numbers and increase Ally participation next year.
Program Update Annual Goals
1. Graduate 120 Leaders w/ avg. wage of $16/hr.
86%
Review
We will report on the final graduate number when the last 2020 cohort graduates in the summer of 2021. As it stands however, while it has been challenging to find middle-skill jobs for Leaders when the market is now more saturated with talent and experience than ever before, we are mostly on track to meet this goal. As for wages, we are pleased to report that our average wage for 2020 cohorts is well over $16/hr to date.
Departmental Updates Business Development Update Annual Goals
1. Procure 30 Direct Placement Jobs.
80%
2. Recruit 100 Employer Network Members.
100%
Review
2020 required us to track the job market with regular attention and analysis. We directly placed 24 Leaders into well-paying jobs, and are excited to build our employer partner network through a more robust Business Development Department in 2021, and strategic partnerships with other staffing agencies. We are consistently watching which skills are in high-demand, what training we need to provide to help our Leaders be competitive and which jobs are decreasing in-demand so that we can help our Leaders succeed. Alumni Association Update Annual Goals
1. Gain 209 Alumni value-added engagements.
120%
2. Gain 65 Ally value-added engagements.* 3. Build strong alumni retention rate.
70% 81%
Review
Last year, we allocated more support and resources for our graduates, and consequently saw strong levels of engagement from alumni. As one of our newest departments, however, our greatest upcoming milestone is structuring the department and its resources with the best possible strategy for scale. We want to build a community-led, community-informed Alumni Association and are building out the department at the onset of 2021. *Value-added engagements are any interaction that adds value either to CrossPurpose, or to the Alumni/Ally, i.e. Alumni returns as an Ally, attends a financial literacy class, or an Ally volunteers as a Change Agency Coach, etc.
Departmental Updates Development Update Annual Goals
1. Raise $4M in operating and reserve funds.
112%
Review
While the majority of the year provided us less flexibility than in prior years, December was an incredible month of revenue. Bringing in just under 25% of our entire operating budget in less than 30 days, we are so grateful for the generosity of our donors. While much of 2020 financials were unpredictable due to the pandemic, we are putting more benchmarks in place in 2021 to aim for a more consistent revenue stream. Human Resources Update Annual Goals 100%
1. All staff completed compliance trainings. 2. Hire 9 new staff members.
100%
Review
During quarantine, we took the opportunity to boost our staff trainings and help our entire team meet compliance standards. In addition, even with a six month hiring-freeze, we were able to grow our team significantly, through internal resources and partnering with a number of staffing agencies to help grow our diverse and talented team as we prepare to scale. Financial Update Please see our December Financial Report attached below.
Mission Moment We're excited to introduce you to Marisa, a 2020 C3 Leader, who, in her words, shared what being part of the CrossPurpose program has meant to her. "When I came to Cross Purpose I had recently left a job where I had been feeling highly undervalued and unappreciated. I had previously been introduced to CrossPurpose through my son, a CP alumni. I was extremely intrigued by the positive change and motivation that resulted in my son’s attendance. When COVID hit, it was a complete setback for my job search and I was feeling very discouraged. I was facing many challenges after the pandemic due to closures resulting in remote learning for my three youngest children. I felt like I was at a great disadvantage and did not know when or how I would be able to move forward in my life. I grew very discouraged thinking about how most people at my age were already established in a career where they are thriving. CrossPurpose could not have come at a better time for me, and surprisingly, the pandemic had now become an advantage for me because I was able to attend school while staying at home with my children. I was extremely excited about starting the personal development stage, which I believe has been the best part for me. I learned about relationships and the appropriate levels of severity that certain conflicts have in my life.
I have also learned to differentiate between the level of drama and attention that certain situations in my life require. This was a big one for me because I learned that I could have all of the necessary skills for a job but if I cannot control my emotions, I will fail every time. I held so much self doubt upon starting my Medical Assisting Skill Track because I honestly had not ever followed through or finished any educational program I had attended before. I also had created a false belief in my mind that because of my age I would not be able to excel because my brain could not comprehend or process this much information. I was wrong, and not only completed my Medical Assistant course, but did so with a 96% percent grade average which resulted in an invitation to the Honors Society at US Career Institute. I am so grateful to CrossPurpose for so many reasons and owe them so much gratitude for my success. I am looking forward to pursuing my career and not having to seek out temporary job positions with low possibilities for advancement. I feel as though now I have become a part of a community with so much support where I can come and be honest, open, and vulnerable while knowing that I will only receive love and understanding in return. CrossPurpose has changed my life in so many positive ways and I will forever be grateful for the restoration of hope, confidence, and success that they have given me. I also look forward to becoming an Ally and offering support to someone else who might be feeling doubtful about their future like I was."
Profit & Loss Budget vs. Actual January through December 2020
Income 4000 · Contributions 4001 · Individuals 4002 · Churches 4003 · Businesses 4004 · Foundations 4005 · In Kind Donations Total 4000 · Contributions 4400 · Government Grants 4500 · Program Income 4700 · Other Income Total Income Gross Profit Expense Admin & Development Expenses Personnel 5000 · Salaries & Wages 5100 · Benefits 5200 · Employer Payroll Taxes Total Personnel Office Expenses 6001 · Audit 6002 · In Kind Donations Expense 6003 · Office Supplies 6004 · Printing and Copying 6007 · Technology 6200 · Fees 6300 · Insurance 6400 · Fund Development 6500 · Occupancy Expenses 6508 · Depreciation Expense Total Office Expenses Total Admin & Development Expenses Programs 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 7017 · Transportation & Travel 7100 · Organizational Culture Total Programs Total Expense Net Income
Jan - Dec 2020
Budget
Variance
% of Budget
469,249 28,700 437,218 2,439,979 421,144 3,796,290 487,543 273,566 8,538 4,565,937 4,565,937
475,559 78,546 310,000 1,940,000 186,240 2,990,345 694,534 303,711 11,410 4,000,000 4,000,000
(6,310) (49,846) 127,218 499,979 234,904 805,945 (206,991) (30,145) (2,872) 565,937 565,937
99% 37% 141% 126% 226% 127% 70% 90% 75% 114% 114%
1,888,830 194,911 130,334 2,214,075
1,782,050 203,830 136,327 2,122,207
106,780 (8,919) (5,993) 91,868
106% 96% 96% 104%
14,058 186,240 6,429 17,021 58,481 241,681 33,444 29,997 61,822 363,677 1,012,850 3,226,925
12,800 186,240 8,698 24,325 70,893 129,871 39,882 34,216 96,182 379,727 982,834 3,105,041
1,258 0 (2,269) (7,304) (12,412) 111,810 (6,438) (4,219) (34,360) (16,050) 30,016 121,884
110% 100% 74% 70% 82% 186% 84% 88% 64% 96% 103% 104%
90,286 17,195 14,402 53,678 2,155 231,655 17,666 7,909 142,441 67,843 3,354 22,899 1,000 5,347 85,882 763,712 3,990,637 575,300
103,990 6,000 9,830 48,170 1,500 322,570 42,836 10,500 172,509 41,604 13,748 21,824 1,058 8,907 89,913 894,959 4,000,000 0
(13,704) 11,195 4,572 5,508 655 (90,915) (25,170) (2,591) (30,068) 26,239 (10,394) 1,075 (58) (3,560) (4,031) (131,247) (9,363) 575,300
87% 287% 147% 111% 144% 72% 41% 75% 83% 163% 24% 105% 95% 60% 96% 85% 100% 100%
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Balance Sheet As of December 31, 2020
Dec 31, 2020 ASSETS Current Assets Checking/Savings 10000 · CP Operating 10000.4 · Change Agency 10000.6 · COVID Fund 10000.8 · Aspen Family Prosperity Grant 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 Total Other Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Credit Cards Other Current Liabilities Total Current Liabilities Long Term Liabilities Total Liabilities Equity 31500 · Net assets with restriction 32000 · Net assets without restriction Net Income Total Equity TOTAL LIABILITIES & EQUITY
80,760 28,470 47,494 825,343 982,067 1,915 800,446 1,784,428 132,097 471,285 2,387,810 2,190,917 369,301 369,301 4,948,028
113,508 32,480 58,214 204,202 525,016 729,218 157,139 3,486,372 575,301 4,218,812 4,948,030
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3050 Richard Allen Ct., Denver, CO 80205 www.crosspurpose.org