Jacob's Ladder Job Center faces "financial crisis"
The Jacob’s Ladder Job Center is facing a “financial crisis” and must raise $200,000 by August 15 to avoid layoffs or a possible shutdown.
In a statement released Tuesday, Executive Director Holly Cummings said the crisis was due to “a series of unexpected circumstances.” She did not elaborate on the nature of those circumstances and did not return a call seeking comment.
Cummings, who became executive director at the end of March, said Jacobs Ladder “missed out on some key fundraising and grant opportunities” while it was undergoing leadership transition.
“Coupled with the economic downturn, I’m afraid the very future of our organization is at stake and we are in dire financial need,” she said in the statement.
In documents filed with the IRS for the year 2010, Jacobs Ladder reported $779,446 in total revenue and $661,161 in total expenses. The documents listed former Executive Director Steffi Travis as the organization’s highest-paid employee, with $72,249 in salary and $11,672 in other compensation.
Qcitymetro.com could not obtain documents for the 2011 tax year.
Jacobs Ladder was formed 14 years ago as a response to the welfare-to-work movement. It works primarily with low-skilled adults to prepare them for employment. Between 2010 and 2011, the organization served nearly 1,200 people and had a program completion and hire rate of more than 70 percent, officials said.
Donations may be made online from the JLJC home page -- www.jacobsladdercharlotte.org. Checks may be made payable to “Jacob’s Ladder Job Center” and mailed or delivered to Jacob’s Ladder Job Center, 2304 The Plaza, Charlotte, NC, 28205.
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