2014 Genesys Works National Annual Report
Genesys Works changes the life trajectory of underprivileged high school students by enabling them to work in meaningful internships, at major corporations, during their senior year in high school. After an 8 week intensive training program, students work at one of our client companies where they discover that they can indeed succeed as professionals in the corporate world.
Genesys Works changes the life trajectory of underprivileged high school students by enabling them to work in meaningful internships, at major corporations, during their senior year in high school.
After an 8 week intensive training program, students work at one of our client companies where they discover that they can indeed succeed as professionals in the corporate world.
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FINANCIAL REPORT<br />
2012 2013 <strong>2014</strong> *<br />
Income Statement (Unrestricted)<br />
Income<br />
Earned Income $ 5,948,478 $ 7,558,296 $ 10,084,833<br />
Contributed Income 3,406,150 4,259,805 6,124,171<br />
TOTAL INCOME 9,354,628 11,818,101 16,209,004<br />
Expenses<br />
Student Wages $ 3,157,505 $ 4,014,556 $ 5,298,575<br />
Other Program Expenses 4,349,154 4,639,726 5,577,593<br />
General & Administrative 452,428 1,305,564 2,609,774<br />
Fundraising 649,486 791,949 1,051,853<br />
TOTAL EXPENSES $ 8,608,573 $ 10,751,795 $ 14,537,795<br />
CHANGE IN NET ASSETS $ 746,055 $ 1,066,306 $ 1,671,209<br />
Balance Sheet Summary<br />
Assets<br />
Cash and Cash Equivalents $ 1,609,848 $ 1,955,419 $ 3,099,889<br />
Accounts Receivable 959,227 1,468,300 1,725,381<br />
Other Current Assets 1,007,041 3,288,062 4,069,373<br />
Property & Equipment (Net) 327,347 258,359 313,959<br />
TOTAL ASSETS $ 3,903,463 $ 6,970,140 $ 9,208,602<br />
Liabilities<br />
Accounts Payable $ 104,731 $ 137,322 $ 96,512<br />
Other Liabilities 325,616 439,437 634,528<br />
TOTAL LIABILITIES $ 430,347 $ 576,759 $ 731,040<br />
Net Assets<br />
Unrestricted Net Assets $ 2,139,190 $ 3,205,467 $ 4,876,677<br />
Temporarily Restricted Net Assets 1,333,927 3,187,918 3,600,885<br />
TOTAL NET ASSETS $ 3,473,117 $ 6,393,385 $ 8,477,562<br />
TOTAL LIABILITIES & NET ASSETS $ 3,903,464 $ 6,970,144 $ 9,208,602<br />
7%<br />
Marketing & Fundraising<br />
18%<br />
General & Administrative<br />
36%<br />
Student Wages<br />
2012 2013 <strong>2014</strong><br />
Contributions<br />
Earned<br />
Income<br />
Income & Expense Growth<br />
<strong>2014</strong> Expense Breakdown<br />
$15<br />
$10<br />
$5<br />
$0<br />
Total<br />
Expenses<br />
MILLIONS<br />
38%<br />
Program Expenses<br />
Photo: Hai Ngo | www.haingo.com)<br />
THE POWER OF PAYCHECK<br />
EZRELLE<br />
HIGH SCHOOL<br />
INTERN, CARLSON<br />
COMPANIES<br />
From the moment he<br />
earned an internship,<br />
Ezrelle had plans for his<br />
first paycheck: he wanted<br />
to buy his grandmother<br />
a stove. When his family<br />
hit on hard times, his<br />
grandma welcomed<br />
them into her home.<br />
Now he had a way to<br />
thank her. “She is so<br />
generous, wise, and<br />
loving,” he said. “If it<br />
wasn’t for her, I would<br />
not try my best.” Fittingly,<br />
his dream is to one day<br />
become a philanthropist.<br />
“I want to be there for<br />
people who are going<br />
through what I have<br />
been through.”<br />
*Unaudited<br />
PAGE 14 | <strong>2014</strong> ANNUAL REPORT GENESYS WORKS | PAGE 15
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