Readyct Inc
- Assets
- $1.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 41
- Location
- Hartford, CT
- Founding
- 05/2011
- Data as of
- 06/2022
- EIN
- 27-4704040
Organization Overview
Readyct Inc is located in Hartford, CT. The organization was established in 2011. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Readyct Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readyct Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Readyct Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 6.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
READYCT WORKS TO ADVANCE ACADEMIC EXCELLENCE AND CAREER-CONNECTED LEARNING FOR ALL PUBLIC SCHOOL STUDENTS IN CONNECTICUT THROUGH COLLABORATION WITH BUSINESS, CIVIC, AND EDUCATION LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
READYCT WORKS WITH A RANGE OF STAKEHOLDERS INCLUDING THE CT STATE DEPARTMENT OF EDUCATION, LOCAL EDUCATIONAL AGENCIES, PUBLIC EDUCATION ORGANIZATIONS (E.G., CAPSS, CAS, CABE), BUSINESS LEADERS, AND STUDENTS/PARENTS TO IMPLEMENT PROGRAMS THAT PROVIDE FUTURE-READY LEARNING, WITH AN EMPHASIS ON WORK-BASED LEARNING EXPERIENCES (E.G., INTERNSHIPS). AS OF JUNE 2022, READYCT HAS TEN CAREER-THEMED PATHWAYS WITHIN ITS PORTFOLIO, AS WELL AS AN ENTREPRENEURIAL SUMMER LEARNING PROGRAM. WITH REGARD TO EDUCATORS, READYCT'S RECENT PROGRAMMING HAS INCLUDED A REUNION EVENT TO GAUGE THE IMPACT OF EARLY INVESTMENTS IN LITERACY LEADERSHIP, A STATEWIDE K-12 COMPUTER SCIENCE EDUCATION SUMMIT, AND A STEM-FOCUSED EDUCATOR EXTERNSHIP PROGRAM WHEREIN TEACHERS "INTERN" WITH LOCAL BUSINESSES TO LEARN FROM EMPLOYEES ABOUT THE JOBS FOR WHICH TEACHERS ARE PREPARING STUDENTS.
READYCT'S MOST RECENT POLICY WORK HAS BEEN AT THE ADMINISTRATIVE LEVEL. THE WORK INCLUDES ENGAGEMENT WITH THE GOVERNOR'S WORKFORCE COUNCIL EDUCATION + TRAINING AND WORK-BASED LEARNING COMMITTEES, CHARGED WITH BETTER ALIGNING THE STATE'S PUBILC EDUCATION SYSTEM WITH CONNECTICUT'S WORKFORCE NEEDS.
READYCT RAISES PUBLIC AWARENESS THROUGH E-MARKETING, MEDIA OUTREACH, SOCIAL MEDIA, AND ITS WEBSITE, WORKING TO PRODUCE ENGAGING CONTENT FOR A RANGE OF STAKEHOLDERS. STAKEHOLDERS INCLUDE STUDENTS, PARENTS, TEACHERS, FUNDERS, PARTNERS, COLLABORATORS, LEGISLATORS, AND OTHER INFLUENCERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon M Marimon Executive Director | Officer | 40 | $201,046 |
Sheryl Mcnamee Director Of Public Affairs | 40 | $111,222 | |
Joe Voelker Chairman | OfficerTrustee | 2 | $0 |
Jeff Auker Vice Chairman | OfficerTrustee | 2 | $0 |
Rick Sharma Secretary/treasurer | OfficerTrustee | 2 | $0 |
Jason Trujillo Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,813,882 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,813,882 |
| Total Program Service Revenue | $450,528 |
| Investment income | $1,577 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,265,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $238,159 |
| Compensation of current officers, directors, key employees. | $10,099 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $952,548 |
| Pension plan accruals and contributions | $24,114 |
| Other employee benefits | $46,514 |
| Payroll taxes | $89,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,389 |
| Advertising and promotion | $0 |
| Office expenses | $29,839 |
| Information technology | $21,275 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,809 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,199 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,492 |
| All other expenses | $0 |
| Total functional expenses | $2,015,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,754,213 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $47,075 |
| Accounts receivable, net | $72,697 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,263 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,875,248 |
| Accounts payable and accrued expenses | $44,818 |
| Grants payable | $0 |
| Deferred revenue | $114,063 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $158,881 |
| Net assets without donor restrictions | $938,649 |
| Net assets with donor restrictions | $777,718 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,875,248 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Readyct Inc has recieved totaling $785,075.
| Awarding Organization | Amount |
|---|---|
Travelers Foundation St Paul, MN PURPOSE: PROGRAM SUPPORT FOR PATHWAYS AND WEAVER HIGH SCHOOL CAREER PATHWAYS PELABS PROJECT BASED LEARNING | $534,000 |
Infosys Foundation Usa New York, NY PURPOSE: FOR ADVOCACY AND AWARENESS | $76,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $64,575 |
Social Venture Partners Connecticut Inc Westport, CT PURPOSE: General operating support | $25,000 |
H A Vance Foundation Inc West Hartford, CT PURPOSE: SUPPORT STUDENT 5.0: CLASS OF 2021 POST GRADUATION PLANNING | $25,000 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |
Learning Through An Expanded Arts Program Inc New York, NY | $2,991,832 | $9,986,466 |