Collegeready Inc
- Assets
- $8.4m
- Revenue
- $1.1m
- Investments
- $885.8k
- Employees
- 7
- Location
- Green Bay, WI
- Founding
- 05/1965
- Data as of
- 08/2022
- EIN
- 39-1044089
Organization Overview
Collegeready Inc is located in Green Bay, WI. The organization was established in 1965. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 08/2022, Collegeready Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Collegeready 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 08/2022, Collegeready Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $929.8k during the year ending 08/2022. While expenses have increased by 1.3% 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
COLLEGEREADY CREATES HOPE AND BRIGHTER FUTURES FOR YOUTH OF ALL BACKGROUNDS IN NORTHEAST WISCONSIN. THROUGH SCHOLARSHIPS AND COLLEGE READINESS PROGRAMMING, WE HELP STUDENTS BREAK DOWN BARRIERS TO HIGHER EDUCATION AND CHANGE THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - WE HELP DESERVING STUDENTS WITH FINANCIAL NEED MAKE THEIR COLLEGE DREAMS COME TRUE THROUGH SCHOLARSHIPS. THIS PAST YEAR WE SUPPORTED 169 LOCAL STUDENTS WITH AWARDS TOTALING $352,486. RECIPIENTS ARE SELECTED THROUGH A COMPREHENSIVE APPLICATION PROCESS WHICH EVALUATES THEIR ACADEMIC ACHIEVEMENT, COMMUNITY INVOLVEMENT, LEADERSHIP, AND PARTICIPATION IN EXTRACURRICULAR ACTIVITIES. IN ADDITION, WE COUNSEL ALL LOCAL HIGH SCHOOL SENIORS ON HOW TO FIND AND PREPARE FOR SCHOLARSHIP OPPORTUNITIES, AS WELL AS HELP THEM UNDERSTAND THE COMPONENTS OF A QUALITY POSTSECONDARY EDUCATION.
COLLEGE READINESS - OUR NEW SCHOLARS PROGRAM HELPS AREA STUDENTS OVERCOME POVERTY WITH THE POWER OF EDUCATION. THROUGH OUR CURRICULUM, WHICH IS BUILT TO IMPROVE READING, WRITING, AND CHARACTER DEVELOPMENT, WE HELP LOW-INCOME STUDENTS BECOME THE FIRST IN THEIR FAMILY TO ATTEND AND GRADUATE FROM COLLEGE. STARTING IN 6TH GRADE AND CONTINUING THROUGH 12TH GRADE, WE HELP THESE STUDENTS ON THEIR PATH TO HIGHER EDUCATION AND PREPARE THEM FOR ACCEPTANCE INTO COLLEGE. THROUGH ACTIVE STUDENT AND PARENT PARTICIPATION, EACH NEW SCHOLAR CAN ALSO EARN UP TO A $5,000 SCHOLARSHIP UPON THEIR HIGH SCHOOL GRADUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Roubal Executive Director | Officer | 40 | $102,292 |
Jennifer Tice Operations Director | Officer | 40 | $61,919 |
Mark Fischer President | OfficerTrustee | 2 | $0 |
Susan Schoenberger Vice President | OfficerTrustee | 2 | $0 |
Benjamin Hayes Treasurer | OfficerTrustee | 2 | $0 |
Heather Seaborn Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,545 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $508,660 |
| Total Program Service Revenue | $3,000 |
| Investment income | $109,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $469,804 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,090,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $352,486 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,848 |
| Compensation of current officers, directors, key employees. | $95,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $162,667 |
| Pension plan accruals and contributions | $4,440 |
| Other employee benefits | $21,386 |
| Payroll taxes | $28,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,951 |
| Fees for services: Accounting | $10,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,862 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,967 |
| Office expenses | $17,359 |
| Information technology | $18,734 |
| Royalties | $0 |
| Occupancy | $20,139 |
| Travel | $3,763 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,379 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $929,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,164 |
| Savings and temporary cash investments | $273,556 |
| Pledges and grants receivable | $10,500 |
| 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 | $6,644 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,203,750 |
| Investments—other securities | $885,759 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,866 |
| Total assets | $8,435,239 |
| Accounts payable and accrued expenses | $27,654 |
| Grants payable | $3,500 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $43,135 |
| 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 | $74,289 |
| Net assets without donor restrictions | $4,586,606 |
| Net assets with donor restrictions | $3,774,344 |
| 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 | $8,435,239 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Collegeready Inc has recieved totaling $141,312.
| Awarding Organization | Amount |
|---|---|
Stand Together Foundation Inc Green Bay, WI PURPOSE: EDUCATION | $39,600 |
K C Stock Foundation Inc Green Bay, WI PURPOSE: SCHOLARSHIPS | $30,000 |
Green Bay Packers Foundation Green Bay, WI PURPOSE: SCHOLARSHIP FUNDS | $26,500 |
George Kress Foundation Green Bay, WI PURPOSE: LAMP OF KNOWLEDGE SCHOLARSHIPS | $15,000 |
Greater Green Bay Community Foundation Inc Green Bay, WI PURPOSE: EDUCATION PROGRAM SUPPORT | $10,000 |
K C Stock Foundation Inc Green Bay, WI PURPOSE: SCHOLARSHIPS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |