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 06/2023, Readyct Inc employed 27 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 06/2023, Readyct Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.6% each year . All expenses for the organization totaled $3.5m during the year ending 06/2023. While expenses have increased by 13.2% per year over the past 8 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
2023
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
FOR THE 2022-23 ACADEMIC YEAR, READYCT PROVIDED CAREER PATHWAY PROGRAMMING (CPP) SUPPORT IN FOUR CONNECTICUT PUBLIC SCHOOL DISTRICTS IN TEN UNIQUE HIGH SCHOOL BUILDINGS, WITH TEAM MEMBERS MANAGING AND/OR OFFERING WORK-BASED LEARNING COORDINATION FOR 16 CAREER PATHWAY PROGRAMS. ALL CPP FOCUSES ON BRINGING BUSINESS PROFESSIONALS AND COMMUNITY-BASED PARTNERS INTO THE SCHOOL IN WAYS THAT COMPLEMENT THEMED COURSEWORK AND HELP STUDENTS UNDERSTAND CAREER OPPORTUNITIES AVAILABLE TO THEM. AS WELL, THE CPP EXPERIENCE PREPARES STUDENTS FOR THOSE OPPORTUNITIES, WHETHER THEY PURSUE CONTINUED EDUCATION/TRAINING OR GO DIRECTLY INTO THE WORKFORCE. READYCT CPP IS SPECIFICALLY DESIGNED TO ALIGN WITH CONNECTICUT'S HIGH-GROWTH, HIGH-DEMAND INDUSTRIES; CURRENT THEMES INCLUDE: BUSINESS/FINANCIAL SERVICES, COMPUTER SCIENCE, ENGINEERING/GREEN TECHNOLOGY, HEALTHCARE, INFORMATION TECHNOLOGY, INSURANCE/FINANCIAL SERVICES, MANUFACTURING, AND PUBLIC SERVICE. A CORE COMPONENT OF PROGRAMMING IS STUDENTS' CAREER PREPARATION EXPERIENCE, SO CPP ALSO INCLUDES A WORK READINESS CURRICULUM THAT HELPS STUDENTS LEARN AND APPLY SKILLS SUCH AS TIME MANAGEMENT, PROFESSIONAL COMMUNICATIONS, PERSONAL BRANDING, WORKPLACE ETIQUETTE, RESUME WRITING, AND INTERVIEWING. FOR MANY STUDENTS, THE CPP EXPERIENCE CULMINATES WITH A PAID INTERNSHIP EXPERIENCE ALIGNED WITH THEIR CAREER PATHWAY THEME. SOME OF THE STATE'S LARGEST EMPLOYERS HOST READYCT INTERNS, INCLUDING HARTFORD HEALTHCARE, TRAVELERS, EY, AND STANLEY BLACK & DECKER. AS WELL, MID-SIZED AND SMALLER, FAMILY-OWNED COMPANIES WELCOME READYCT INTERNS, YEAR AFTER YEAR. FOR SUMMER 2023, OVER 400 HIGH SCHOOL STUDENTS INTERNS HAD HIGH-QUALITY PAID INTERNSHIP EXPERIENCES AS A RESULT OF THEIR CAREER READINESS TRAINING.
READYCT RAISES PUBLIC AWARENESS THROUGH TARGETED EVENTS (E.G., THE ANNUAL BUSINESS & COMMUNITY PARTNER BREAKFAST), 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
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeff Auker Chairman | OfficerTrustee | 2 | $0 |
Rick Sharma Vice Chairman | OfficerTrustee | 2 | $0 |
Marinka Natale Secretary/treasurer | OfficerTrustee | 2 | $0 |
Andrew Bond Director | Trustee | 0.5 | $0 |
William T Brown Director | Trustee | 0.5 | $0 |
Tracy Church Director | Trustee | 0.5 | $0 |
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 | $2,619,945 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,619,945 |
Total Program Service Revenue | $1,099,770 |
Investment income | $2,241 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | -$902 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,743,553 |
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. | $262,185 |
Compensation of current officers, directors, key employees. | $16,592 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,895,509 |
Pension plan accruals and contributions | $24,283 |
Other employee benefits | $108,064 |
Payroll taxes | $168,576 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $47,724 |
Fees for services: Lobbying | $940 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $141,987 |
Advertising and promotion | $0 |
Office expenses | $43,030 |
Information technology | $24,144 |
Royalties | $0 |
Occupancy | $0 |
Travel | $9,696 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $15,556 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $12,849 |
All other expenses | $0 |
Total functional expenses | $3,485,980 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,036,764 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $150,000 |
Accounts receivable, net | $300,852 |
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 | $14,990 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $311,097 |
Total assets | $2,813,703 |
Accounts payable and accrued expenses | $101,041 |
Grants payable | $0 |
Deferred revenue | $427,625 |
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 | $311,097 |
Total liabilities | $839,763 |
Net assets without donor restrictions | $1,269,005 |
Net assets with donor restrictions | $704,935 |
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 | $2,813,703 |