Readiness Center Inc
- Assets
- $2.7m
- Revenue
- $382.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Benton Harbor, MI
- Founding
- 09/1985
- Data as of
- 06/2023
- EIN
- 38-2589535
Organization Overview
Readiness Center Inc is located in Benton Harbor, MI. The organization was established in 1985. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. As of 06/2023, Readiness Center Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readiness Center 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, Readiness Center Inc generated $382.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $325.9k during the year ending 06/2023. While expenses have increased by 2.5% 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
THE READINESS CENTER, INC. IS ENGAGED IN PROVIDING A VARIETY OF EDUCATIONAL OPPORTUNITIES TO FOSTER SELF-ESTEEM IN PARENTS AND CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESCHOOL - 40 CHILDREN PARTICIPATE IN A PRESCHOOL SETTING LEARNING READINESS SKILLS. THE PARENTS ARE PRIMARY TEACHERS.
TEEN VOLUNTEER WORK 50/50 PROGRAM - 9 TEENS WORKED AS MENTORS IN THE CITY KIDS PROGRAM, LEARNING NEEDED JOB SKILLS. THEY ARE PAID FOR 50% OF THEIR TIME AND VOLUNTEER THE REST.
ADULT EDUCATION - 45 PARENTS PARTICIPATE IN CRAFT, SEWING, COMPUTER, PARENTING OR OTHER CLASSES.
CITY KIDS - AFTER SCHOOL PROGRAM WITH 21 CHILDREN PARTICIPATING IN A HOMEWORK ASSISTANCE AND VIOLENCE PREVENTION PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Thieneman Executive Director | OfficerTrustee | 50 | $62,308 |
Emmanuel Pean President | OfficerTrustee | 2 | $0 |
Lynn Kalamaros Vice President | OfficerTrustee | 1 | $0 |
Peter Claude Treasurer | OfficerTrustee | 1 | $0 |
Allie Kibbler-Campbell Secretary | OfficerTrustee | 1 | $0 |
Elizabeth Mccree Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,959 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $328,909 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $342,868 |
| Total Program Service Revenue | $0 |
| Investment income | $44,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$5,324 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $382,113 |
| 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. | $62,308 |
| Compensation of current officers, directors, key employees. | $12,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $131,772 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,659 |
| Payroll taxes | $14,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,899 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,592 |
| Fees for services: Other | $1,397 |
| Advertising and promotion | $0 |
| Office expenses | $11,868 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,085 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $459 |
| Insurance | $1,044 |
| All other expenses | $237 |
| Total functional expenses | $325,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $551,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $5,261 |
| Net Land, buildings, and equipment | $11,018 |
| Investments—publicly traded securities | $1,546,469 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $551,567 |
| Total assets | $2,666,226 |
| Accounts payable and accrued expenses | $1,955 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,955 |
| Net assets without donor restrictions | $2,664,271 |
| Net assets with donor restrictions | $0 |
| 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 | $2,666,226 |