Interior's $117M MFLC Contract Awarded to Zeiders Enterprises for Financial Counseling
Contract Overview
Contract Amount: $117,011,368 ($117.0M)
Contractor: Zeiders Enterprises, Inc.
Awarding Agency: Department of the Interior
Start Date: 2012-08-15
End Date: 2018-08-14
Contract Duration: 2,190 days
Daily Burn Rate: $53.4K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 4
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: MFLC SUPPORT - PERSONAL FINANCIAL COUNSELING IGF::OT::IGF
Place of Performance
Location: WOODBRIDGE, PRINCE WILLIAM County, VIRGINIA, 22192
State: Virginia Government Spending
Plain-Language Summary
Department of the Interior obligated $117.0 million to ZEIDERS ENTERPRISES, INC. for work described as: MFLC SUPPORT - PERSONAL FINANCIAL COUNSELING IGF::OT::IGF Key points: 1. The contract awarded to Zeiders Enterprises for $117 million focuses on personal financial counseling services. 2. The award was made under full and open competition, suggesting a competitive bidding process. 3. The contract duration is 6 years, indicating a long-term need for these services. 4. The service category is 'Investment Advice', falling under NAICS code 523930. 5. The contract type is Firm Fixed Price, which sets a ceiling on costs.
Value Assessment
Rating: good
The contract value of $117 million over six years appears substantial for personal financial counseling. Benchmarking against similar contracts for investment advice and financial planning services would be necessary to fully assess value.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. This method generally promotes competitive pricing and ensures the government receives fair market value.
Taxpayer Impact: The competitive nature of the award suggests that taxpayer funds were likely used efficiently, as the pricing would have been driven by market forces.
Public Impact
Provides essential financial guidance to individuals, potentially improving financial literacy and well-being. Supports personnel by offering resources for investment and financial planning. The long-term nature of the contract ensures continuity of these important services. Services are delivered through Zeiders Enterprises, a single contractor for this period.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of specific performance metrics or outcomes in the provided data.
- Potential for vendor lock-in given the 6-year duration.
- Limited insight into the specific scope of 'personal financial counseling'.
Positive Signals
- Awarded through full and open competition.
- Firm Fixed Price contract type provides cost certainty.
- Long-term contract ensures service continuity.
Sector Analysis
The contract falls under the professional, scientific, and technical services sector, specifically related to financial and investment advice. Spending in this area supports government personnel and operations through specialized expertise.
Small Business Impact
The provided data does not indicate whether small businesses were involved as subcontractors or prime contractors in this award. Further analysis would be needed to determine small business participation.
Oversight & Accountability
Oversight would typically involve contract performance reviews, financial audits, and ensuring compliance with contract terms by the Department of the Interior. The effectiveness of oversight depends on the agency's established processes.
Related Government Programs
- Investment Advice
- Department of the Interior Contracting
- Departmental Offices Programs
Risk Flags
- Contract duration is long (6 years).
- Limited information on specific performance metrics.
- Potential for cost overruns if not managed tightly, despite FFP.
- Dependence on a single contractor for a critical service.
- Scope of 'personal financial counseling' is broad and requires clear definition.
Tags
investment-advice, department-of-the-interior, va, definitive-contract, 100m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Interior awarded $117.0 million to ZEIDERS ENTERPRISES, INC.. MFLC SUPPORT - PERSONAL FINANCIAL COUNSELING IGF::OT::IGF
Who is the contractor on this award?
The obligated recipient is ZEIDERS ENTERPRISES, INC..
Which agency awarded this contract?
Awarding agency: Department of the Interior (Departmental Offices).
What is the total obligated amount?
The obligated amount is $117.0 million.
What is the period of performance?
Start: 2012-08-15. End: 2018-08-14.
What specific financial counseling services are included under this contract, and how are they tailored to the needs of the Department of the Interior's personnel?
The contract specifies 'Investment Advice' under NAICS 523930, suggesting services related to financial planning, investment strategies, and potentially retirement planning. The exact scope would detail the types of counseling, educational materials, and advisory services provided, tailored to the demographic and financial situations of the agency's workforce.
How does the $117 million contract value compare to industry benchmarks for similar personal financial counseling services over a six-year period?
Benchmarking requires comparing the per-unit cost or total contract value against similar government or commercial contracts for financial counseling. Factors like the number of individuals served, the complexity of services, and geographic reach influence cost. Without specific service delivery metrics, a precise benchmark is difficult, but the value suggests a significant scope of service.
What mechanisms are in place to ensure the quality and effectiveness of the financial counseling provided by Zeiders Enterprises?
Quality assurance would likely involve performance metrics defined in the contract, regular reporting from the contractor, and periodic reviews by the contracting officer's representative. Client satisfaction surveys and outcome tracking (e.g., improved financial literacy scores) could also be employed to gauge effectiveness.
Industry Classification
NAICS: Finance and Insurance › Other Financial Investment Activities › Investment Advice
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Offers Received: 4
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 2750 KILLARNEY DR STE 100, WOODBRIDGE, VA, 22192
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business, Veteran Owned Business
Financial Breakdown
Contract Ceiling: $218,737,165
Exercised Options: $177,380,518
Current Obligation: $117,011,368
Subaward Activity
Number of Subawards: 5
Total Subaward Amount: $3,789,376
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2012-08-15
Current End Date: 2018-08-14
Potential End Date: 2018-08-14 00:00:00
Last Modified: 2022-10-24
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