Partnership for the Future, Inc.
4521 Highwoods Parkway
Glen Allen VA 23060-6148
Mission Statement Partnership for the Future’s mission is to provide high-potential high school students from challenging circumstances in the metro-Richmond area with tools and experiences necessary to attain a college degree.
Leadership
CEO/Executive Director Ms. Charleita M. Richardson
Board Chair Mr. Jeffrey Wolfe
Board Chair Company Affiliation Capital One
Contact Information
Address 4521 Highwoods Parkway
Glen Allen, VA 230606148
Telephone 804 967-2559
Fax 804 965-1799
E-mail chrichardson@partnershipforthefuture.org
History and Background
Year of Incorporation 1994
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $1,038,677.00
Projected Expenses $1,038,677.00
Additional Documents
As of January 03, 2017, VDACS has confirmed receipt of our application and was found to be in compliance with all said registration requirements. 
Statements
Mission Partnership for the Future’s mission is to provide high-potential high school students from challenging circumstances in the metro-Richmond area with tools and experiences necessary to attain a college degree.
Impact
Every year Partnership for the Future (PFF) consistently strives to maintain our high level of programming and opportunity for students and hopes to exceed these important goals:
  1. Increase the number of student participants.  PFF currently denies one out of every three qualified applicants because there are not enough internships.
  2. Increase the number of students retained in the program for all three years, recognizing that due to circumstances in the students’ lives and environment, 100% retention is unlikely.
  3. Increase the selectivity of the colleges attended by PFF students.  
  4. Develop strategic business partners who will (a) provide internships for all qualifying students in the region; and (b) provide program funding to ensure the viability of the program. 
  5. Maintain a 100% yearly college matriculation rate for PFF graduates.
  6. Increase overall outside scholarships received by PFF students.

Program Accomplishments:  

  • PFF maintained a 100% success rate of college matriculation.  100% of the Class of 2015 matriculated to college.
  • The Class of 2015 (34 students) earned over $7.2 million dollars in scholarships.
  • The Class of 2015 included three Valedictorians (to include the Citywide Valedictorian for Richmond Public Schools), two Salutatorians, and two Gates Millennium Scholarship Winners (a full-ride scholarship to any college/university in the country for both undergraduate and graduate school). 
  • Over 150 students interned for seven weeks at area businesses, government agencies, and nonprofits during the summer months. They worked in a variety of professional capacities Monday through Thursday. Fridays were devoted to personal development with PFF staff and volunteers on the 8 Sectors of Life Curriculum.  During the school year, students participate in PFF’s expanded Year-Round Program and continued to develop their life skills during scheduled Cultural Capital Sessions.
  • PFF is pleased to report that we have a retention rate of 80%.  Often, children who have a number of challenging family scenarios, including limited resources, are unable to continue with programs.  Establishing an 80% rate shows the commitment of our students, our parents, and the overall value of programming that our students receive.
  • PFF also awarded an additional $15,000 in scholarship money to three Kirshner Scholars.  Earning the title of Kirshner Scholar is the highest honor a PFF student can receive.
Needs
- Business Sponsors for student internship placements or donations to fund student placements at area nonprofits
- Funding for programs that train our student leaders (~$7,500 per student)
- Volunteers for professional development and life skills workshops
Background

Partnership for the Future’s mission is to provide high-potential high school students from challenging circumstances in the metro-Richmond area with tools and experiences necessary to attain a college degree. Twenty years ago, a group of business people saw a way to offset the deficiencies that could hold back these exceptional students. PFF was started to help bright students from challenging backgrounds consider futures different from those in their community. In 2014, 80% of our students completed the program, and 100% of them entered a college or university. On average, 87% are accepted by one of their top three choices of schools.

PFF provides a yearly average of 150 motivated high school students, from the City of Richmond and Henrico County, with college prep courses, personal development workshops, one-on-one mentoring, savings seminars, as well as incentives to save such as our matching program. Of the students PFF helps, 72% of them come from households with an income of $40,000 or less, and 87% of them will be the first generation to attend college.

PFF is a year-round program but the rigor of PFF’s model is most apparent in the summer. During their first summer with us, students attend the weeklong PFF Institute at Randolph-Macon College. PFF Institute is designed to break the negative habits that students may have learned from their homes or previous academic environments while developing basic employment skills such as training in Microsoft Office, understanding the importance of maintaining both a positive attitude and a professional demeanor, and learning good communication skills, all of which will be practiced during their internships.

During their second, third and fourth summers with PFF, students begin a paid three-year summer internship with local businesses or organizations. Students work on-site Monday through Thursday, spending each Friday at PFF developing additional skills. We are also extending our guidance for our students through their first year of college. This support greatly increases college graduation rates.

PFF is recognized as a best practice organization. The National College Access Network recently invited PFF to take part in their Common Measures Learning Community to explore and implement effective data tracking and usage strategies that improve services for students taking part in programs across the nation. It is an opportunity to share and learn best practices that lead to improving college enrollment and degree attainment. And last November, Charleita Richardson, PFF’s President & CEO, participated in the College Affordability Panel with Arne Duncan, U.S. Secretary of Education and Congressman Eric Cantor. The event focused on the virtues of transparency in higher education and how that can help parents and students make smarter and well-informed decisions about their education opportunities.

CEO Statement

PFF utilizes a holistic approach to education for today’s youth. Our uniqueness revolves around a 3-year commitment of the students and families to the program. Our commitment to the student includes the following three areas.

(1) Students grow stronger academically, with the help of PFF’s programs.  Students participate in year-round sessions to help them explore career options and opportunities for personal development.They participate in PFF’s college preparation series. The series includes private SAT prep classes as well as courses that help them prepare for the rigors of college, ranging from the demands of studying to developing critical thinking abilities. And to ensure ongoing progress, each student works with a mentor on amonthly basis.

(2) With PFF’s guidance, students select and apply to schools that match their exceptional potential.  Students attend college fairs, and PFF staff and mentors guide them in the complex process of preparing college applications and entrance essays. Students also receive help navigating the financial aid process, including applying for scholarships and matching grants.

(3) PFF helps students gain practical experience and life experience. Many PFF students have never traveled to another city, eaten lunch in a restaurant, or conversed with a businessperson. And though the experiences they do have make their achievements even more remarkable, those experiences don’t translate.


Areas of Service
Areas Served
Area
Richmond, City
Henrico County
We serve the following high schools:
 

Richmond High School Partners

•Armstrong

•Franklin Military Academy

•George Wythe

•Huguenot

•John Marshall

•Open

•Richmond Community

•Thomas Jefferson

 

 Henrico County High School Partners

•Hermitage

•Henrico

•Highland Springs

•J R Tucker

•Varina

Board Chair
Board Chair Mr. Jeffrey Wolfe
Company Affiliation Capital One
Term Jan 2017 to Dec 2018
Email jeff.wolfe@capitalone.com
Board of Directors
Board Members
NameAffiliation
John Atkinson Dixon Hughes Goodman
Benita Felmus Community Volunteer
M. H. Dodie Fix CarMax
Nkanta "Nick" Hines VCU Health
Ross Little Markel Corporation
Kristy S. Marshall Wells Fargo
Jon Moore NuMark (An Altria Company)
Charleita M. Richardson Partnership for the Future
Samuel L. Tarry Jr.McGuireWoods
Austin Welder Bank of America
Jeffrey "Jeff" P. Wolfe Capital One
Board Demographics - Ethnicity
African American/Black 3
Asian American/Pacific Islander 0
Caucasian 8
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 7
Female 4
Governance
Board Term Lengths 3
Board Term Limits 2
Written Board Selection Criteria? Under Development
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 6
Standing Committees
Executive
Finance
Nominating
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Ms. Charleita M. Richardson
Experience
Charleita M. Richardson is the President and CEO of Partnership for the Future (PFF). She is responsible for the operations and management of this not-for-profit organization, to include positioning the organization as a continued resource of future leaders for the community.
Charleita joined PFF in 2006 as the Director of Programs. In this role, her responsibilities included implementing and redesigning a program curriculum that targeted the areas of college preparation, critical thinking, community service, and workforce development. In late 2007, she was offered and accepted her current position with the organization.
 
Prior to joining Partnership for the Future, after graduating from college, Charleita worked as a Financial Analyst at DuPont and worked briefly at Genworth Financial (formerly GE). After several years working in the financial field, she redirected her focus to Programs. With that change in direction, she worked for the City of Richmond, and was responsible for establishing the workforce training program for area high school students. She later transitioned to the Capital Area Workforce Investment Board as the Youth Programs Manager of the seven counties surrounding Richmond, VA. 
 
Charleita holds a B.A. in Accounting from Randolph-Macon College, where she was the first black female in the history of the college to serve as the class commencement speaker, and received the 2007 Outstanding Alumna Award. She also holds a MBA in Management. She serves on the Board of Directors for the Professionals Reaching Out to the Community Foundation, Inc. and is a member of the Leadership Metro Richmond Class of 2008. She is an Alumna of INROADS, Inc., where she was recognized with the National Emerging Leader Award in 2002. In addition, Charleita was named as one of Style Weekly’s Top 40 Under 40 in 2008. Charleita is also the past President of the Pi Rho Omega Chapter of Alpha Kappa Alpha Sorority, Inc.  Charleita is currently serving on the the St. Mary's Community Advisory Board and the Capital Region Workforce Development Board.
Former CEOs
NameTerm
Maureen J. Denlea June 2004 - Nov 2007
Heidi R. Metcalf Jan 1998 - June 2004
Senior Staff
NameTitle
Tiffany D. Thomas Director of Programs
Staff
Full Time Staff 4
Part Time Staff 1
Volunteers 200
Contractors 4
Plans
Organization has a Fundraising Plan? Under Development
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 5
Date Strategic Plan Adopted May 2011
Management Succession Plan? Under Development
Directors and Officers Insurance Policy Yes
Collaborations
PFF currently collaborates with the Leadership Metro Richmond, Virginia Foundation of Independent Colleges, A Grace Place Adult Care Center, and several other organizations.
Awards
Awards
Award/RecognitionOrganizationYear
Workforce One All-Star: Education/Training AwardWorkforce One2000
Outstanding Mentoring Program of the Year-Metro RichmondVirginia Mentoring Partnerships2012
Programs
Description PFF students work four days per week (Monday-Thursday) and spend the fifth day (Friday) in PFF-coordinated training. This eight-hour day of training is designed to include interactive workshops, guest speakers, community service projects, and college visits. First-year students become acclimated to PFF through the Eight Sectors of Life curriculum (1. Self-Identity; 2. Spiritual; 3. Intellectual; 4. Financial; 5. Relational; 6. Emotional; 7. Professional; 8. Physical). PFF students are expected to participate in the year-round curriculum sessions focused on career exploration and personal development. In addition, students participate in our college preparation series that includes financial aid workshops, private SAT prep classes, college fairs, and assistance with college essays/scholarship applications. PFF students are also mentored on a monthly basis. PFF assists students with setting up a Virginia 529 VEST account through the Virginia College Savings Plan. This account is established exclusively for college savings. Through PFF and its business sponsors, a student's VEST savings are matched dollar for dollar (up to $2,000) at the end of the three-year, four-summer program.
Long Term Success 100% of the class of 2010 matriculated to college. An overall 99% of student participants have matriculated to college since the program's inception.
Fiscal Year
Projected Revenue $1,038,677.00
Projected Expenses $1,038,677.00
Endowment Value $75,000.00
Spending Policy Income Only
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201520142013
Program Expense$658,615$583,001$521,663
Administration Expense$110,242$130,022$109,062
Fundraising Expense$189,672$188,267$163,374
Payments to Affiliates------
Total Revenue/Total Expenses1.040.971.14
Program Expense/Total Expenses69%65%66%
Fundraising Expense/Contributed Revenue24%28%22%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$1,074,142$1,024,197$1,057,809
Current Assets$994,419$1,016,141$1,057,809
Long-Term Liabilities$0----
Current Liabilities$14,659$4,939$7,110
Total Net Assets$1,059,483$1,019,258$1,050,699
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities67.84205.74148.78
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? Yes
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit Application 1/2017View
Comments
Organization Comments
Partnership for the Future’s fiscal year begins January 1st and ends December 31st & coincides with a calendar year. 
Foundation Comments
  • Financial information provided from audited financial statements.
  • Audited financial statements and IRS 990s prepared by Keiter, Stephens, Hurst, Gary & Shreaves, PC.
  • Revenue from " Foundations and Corporations" also includes support from individuals.