Collegeready Inc
- Assets
- $8.6m
- Revenue
- $607.6k
- Investments
- $910.8k
- Employees
- 9
- Location
- Green Bay, WI
- Founding
- 05/1965
- Data as of
- 08/2023
- 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 08/2023, Collegeready Inc employed 9 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 08/2023, Collegeready Inc generated $607.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $968.1k during the year ending 08/2023. 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
COLLEGEREADY ENCOURAGES AND INVESTS IN AREA STUDENTS TO SUCCEED IN HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - WE HELP DESERVING LOCAL STUDENTS WITH FINANCIAL NEED ACHIEVE THEIR COLLEGE AND CAREER DREAMS THROUGH SCHOLARSHIPS. THIS PAST YEAR WE SUPPORTED 167 LOCAL STUDENTS WITH FINANCIAL AWARDS. RECIPIENTS ARE CHOSEN THROUGH A COMPREHENSIVE PROCESS, WHICH EVALUATES THEIR ACADEMIC ACHIEVEMENT, COMMUNITY INVOLVEMENT, LEADERSHIP, AND PARTICIPATION IN EXTRACURRICULAR ACTIVITIES. IN ADDITION, WE COUNSEL ALL AREA HIGH SCHOOL SENIORS ON HOW TO FIND AND PREPARE FOR OTHER SCHOLARSHIP OPPORTUNITIES, AS WELL AS 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 A CURRICULUM BUILT TO IMPROVE THEIR READING, WRITING, AND CHARACTER DEVELOPMENT, WE HELP YOUTH FROM LOW-INCOME BACKGROUNDS BECOME THE FIRST IN THEIR FAMILY TO ATTEND AND GRADUATE FROM COLLEGE. FROM 6TH GRADE THROUGH 12TH GRADE, WE HELP THESE STUDENTS ON THEIR PATH TO HIGHER EDUCATION AND PREPARE THEM FOR ACCEPTANCE INTO COLLEGE. THIS PAST YEAR WE SERVED 178 STUDENTS WHO EXCEEDED THEIR PEERS ON STANDARDIZED TEST SCORES, HIGH SCHOOL GRADUATION, AND POSTSECONDARY ENROLLMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Schoenberger President | OfficerTrustee | 2 | $0 |
Claire Williams Vice President | OfficerTrustee | 2 | $0 |
Mark Fischer Treasurer | OfficerTrustee | 2 | $0 |
Cindy Zuege Secretary | OfficerTrustee | 2 | $0 |
Benjamin Hayes Board Member | Trustee | 1 | $0 |
Mike Hogan Board Member | Trustee | 1 | $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 | $467,180 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $467,180 |
| Total Program Service Revenue | $3,000 |
| Investment income | $154,571 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,201 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $607,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $371,568 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $212,596 |
| Compensation of current officers, directors, key employees. | $95,469 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,910 |
| Pension plan accruals and contributions | $3,710 |
| Other employee benefits | $12,741 |
| Payroll taxes | $28,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,496 |
| Fees for services: Other | $19,389 |
| Advertising and promotion | $2,077 |
| Office expenses | $17,513 |
| Information technology | $25,285 |
| Royalties | $0 |
| Occupancy | $20,931 |
| Travel | $3,805 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,536 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $968,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,490 |
| Savings and temporary cash investments | $182,669 |
| 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 | $6,764 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,471,816 |
| Investments—other securities | $910,752 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,641 |
| Total assets | $8,611,132 |
| Accounts payable and accrued expenses | $30,294 |
| 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 | $76,929 |
| Net assets without donor restrictions | $4,682,350 |
| Net assets with donor restrictions | $3,851,853 |
| 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 | $8,611,132 |