The Fedcap Group Reports First Half Fiscal Year 2023 Financial and Operating Results
New York, NY—May 11,2023—The Fedcap Group, the parent company for 23 nonprofit subsidiaries, in the United States, Canada, and the United Kingdom, released its operating and financial results for the first half of fiscal year 2023 that ended March 31, 2023.
Commenting on the results, The Fedcap Group’s President and CEO Christine McMahon noted, “This was another period of solid growth and significant accomplishment for The Fedcap Group. We continued to execute effectively on domestic and international contracts, while winning new work, and building out our service offerings to address the substantial opportunities we see on the horizon.
The Fedcap Group provides a diversified array of services to break down barriers and create pathways to economic well-being. In the first half of the 2023 fiscal year, The Fedcap Group served just under 140,000 individuals, including those screened for state and federal benefits through our Single Stop program—a 50% increase year-over-year. To achieve this mission, The Fedcap Group operates across four key practice areas: Education, Workforce Development, Health, and Economic Development.
The strength of Single Stop’s case management and benefits program aids in the continued growth of The Fedcap Group’s Health Practice. During the first half of FY2023, 24,700 individuals were screened for federal and state benefits, and households on average received $21,000 in benefits.