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Nonprofiteer
← READY TO SUCCEED

Form 990 for tax year 2022

Filed by READY TO SUCCEED.

Totals

Total revenue
$4,548,021
Total expenses
$2,851,054
Contributions and grants received
$4,549,383
Grants paid
$598,627
Program service revenue
$0
Investment income
$6,304
Other revenue
-$7,666
Total assets, end of year
$3,092,875
Total liabilities, end of year
$209,568
Net assets or fund balances, end of year
$2,883,307
Program services expenses (Part IX)
$2,126,618
Management and general expenses
$350,908
Fundraising expenses
$373,528
Program service expenses (Part III)
$2,126,618

Program services were 74.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $127,747

  • 1e · Government grants (contributions)

    $130,000

  • 1f · All other contributions, gifts and grants

    $4,291,636

  • 1g · Noncash contributions included above

    $3,265

  • 3 · Investment income

    total $5,386 · excluded $5,386

  • 7a · Gross sales of assets other than inventory

    securities $1,059

  • 7b · Less cost or other basis and sales expenses

    securities $141

  • 7c · Gain or loss

    securities $918

  • 7d · Net gain or loss

    total $918 · excluded $918

  • 8a · Fundraising events: gross income

    $10,729

  • 8a · Fundraising events: contributions included on line 1c

    $127,747

  • 8b · Fundraising events: direct expenses

    $20,095

  • 8c · Net income from fundraising events

    total -$9,366 · excluded -$9,366

  • 11a · Other revenue: REBATES

    total $1,700 · excluded $1,700

  • 11e · Other revenue, total

    $1,700

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $598,627 · program services $598,627

  • 5 · Compensation of officers, directors and key employees

    total $190,250 · program services $69,522 · management and general $77,517 · fundraising $43,211

  • 7 · Other salaries and wages

    total $1,102,337 · program services $862,671 · management and general $46,209 · fundraising $193,457

  • 8 · Pension plan contributions

    total $25,856 · program services $20,479 · management and general $423 · fundraising $4,954

  • 9 · Other employee benefits

    total $53,701 · program services $43,425 · management and general $2,067 · fundraising $8,209

  • 10 · Payroll taxes

    total $106,680 · program services $83,303 · management and general $3,589 · fundraising $19,788

  • 11b · Fees: legal

    total $663 · management and general $663

  • 11c · Fees: accounting

    total $79,519 · management and general $79,519

  • 11e · Fees: professional fundraising services

    total $24,000 · fundraising $24,000

  • 11g · Fees: other

    total $249,340 · program services $170,018 · management and general $79,283 · fundraising $39

  • 12 · Advertising and promotion

    total $111,619 · program services $46,822 · management and general $12,317 · fundraising $52,480

  • 13 · Office expenses

    total $70,961 · program services $30,942 · management and general $18,077 · fundraising $21,942

  • 14 · Information technology

    total $61,595 · program services $35,269 · management and general $22,032 · fundraising $4,294

  • 16 · Occupancy

    total $50,189 · program services $50,189

  • 17 · Travel

    total $2,120 · program services $1,959 · management and general $124 · fundraising $37

  • 19 · Conferences, conventions and meetings

    total $26,272 · program services $18,607 · management and general $6,548 · fundraising $1,117

  • 23 · Insurance

    total $11,670 · program services $9,130 · management and general $2,540

  • 24a · Other expenses: STUDENT SUPPORT

    total $85,655 · program services $85,655

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,121,319 · end of year $619,806

  • 3 · Pledges and grants receivable

    beginning of year $298,625 · end of year $729,269

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $9,538

  • 11 · Investments: publicly traded securities

    end of year $1,698,179

  • 15 · Other assets

    beginning of year $31,048 · end of year $36,083

  • 17 · Accounts payable and accrued expenses

    beginning of year $262,686 · end of year $209,568

  • 27 · Net assets without donor restrictions

    beginning of year $771,764 · end of year $1,410,116

  • 28 · Net assets with donor restrictions

    beginning of year $416,542 · end of year $1,473,191

Mission and programs · 2022

Mission

READY TO SUCCEED (RTS) IS A NON PROFIT EMPOWERING FOSTER YOUTH IN COLLEGE TO PREPARE FOR THE PROFESSIONAL WORLD AND BUILD PATHWAYS TO EMPLOYMENT. WE DO THIS THROUGH A UNIQUE, MULTI-YEAR PROGRAM THAT PROVIDES OUR RTS STUDENTS WITH PERSONALIZED CAREER ADVISING, ACCESS TO PROFESSIONAL NETWORKS AND PLACEMENT IN PAID INTERNSHIPS. UPON COMPLETION OF OUR PROGRAM, RTS SCHOLARS HAVE THE SKILLS, RELATIONSHIPS AND EXPERIENCES THEY NEED TO LAUNCH THEIR CAREERS AND PURSUE THEIR DREAMS.

Activities or mission (Part I)

TO EMPOWER FOSTER YOUTH IN COLLEGE TO GRADUATE AND LAUNCH MEANINGFUL CAREERS.

  • CAREER ACCELERATOR FOR FIRST-GENERATION COLLEGE STUDENTS: THE CAREER ACCELERATOR FOR FIRST-GENERATION COLLEGE STUDENTS LAUNCHED IN DECEMBER 2021 AND WAS GENEROUSLY FUNDED BY THE RIC AND SUZANNE KAYNE FOUNDATION. THE PARTICIPANTS OF THIS PROGRAM ARE REQUIRED TO ATTEND CAL STATE AND UNIVERSITY OF CALIFORNIA SCHOOLS AND PURSUE CAREERS IN BUSINESS OR STEM RELATED INDUSTRIES. THIS PROGRAM PROVIDES ALL OF THE COMPONENTS OF THE CAREER ACCELERATOR PROGRAM FOR FOSTER YOUTH WITH THE ADDITION OF A LOAN REPAYMENT PROGRAM.

    Expenses $1,368,281 · Grants $319,674

  • THE RTS CAREER ACCELERATOR PROGRAM IS A HOLISTIC, FOUR-YEAR CAREER SUCCESS PROGRAM THAT ADDRESSES AND SUPPORTS EACH RTS SCHOLAR'S SOCIAL, EMOTIONAL, FINANCIAL AND PHYSICAL NEEDS, WITH THE GOAL OF EMPOWERING THEM TO LAUNCH SUCCESSFUL CAREERS. SCHOLARS JOIN THE RTS PROGRAM AS RISING SOPHOMORES AND JUNIORS AND ARE ASSIGNED A PERSONAL CAREER NAVIGATOR AND ADVISOR WHO STAYS WITH THEM THROUGH COLLEGE GRADUATION AND ONE FULL YEAR OF POST-GRADUATE EMPLOYMENT. THIS ADVISOR IS OFTEN THE FIRST TRUSTED ADULT AND ROLE MODEL FOR OUR STUDENTS. EACH ADVISOR GUIDES THEIR SCHOLARS THROUGH ALL THE PROGRAM COMPONENTS SPECIFICALLY DESIGNED TO DRIVE OUR STUDENTS' CAREER SUCCESS INCLUDING: 1:1 COACHING AND CAREER WORKSHOPS; NETWORK BUILDING THROUGH ENGAGEMENT WITH AN ACTIVE NETWORK OF 500+ PROFESSIONALS; SOCIAL, EMOTIONAL, AND MENTAL HEALTH SUPPORT THROUGH MONTHLY COMMUNITY BUILDING AND WELLNESS EVENTS AND ACCESS TO A ROBUST RESOURCE NETWORK TO ADDRESS HOUSING, TRANSPORTATION, FOOD, AND OTHER BASIC NEEDS; INTERNSHIP PLACEMENT AND JOB SEARCH SUPPORT AND FINANCIAL SUPPORT, WITH A $5,000 STIPEND TO SUPPORT BASIC NEEDS FOR ALL ACTIVE UNDERGRADUATE SCHOLARS. THIS INTEGRATED APPROACH ULTIMATELY RESULTS IN YOUTH PERSISTING IN AND GRADUATING FROM COLLEGE, AND SECURING CAREER TRACK JOBS.

    Expenses $614,029 · Grants $217,564

  • PROJECT DORM ROOM: THE PROGRAM PROVIDES DORM ROOM ESSENTIALS TO INCOMING FRESHMEN AND TRANSFER FOSTER YOUTH STUDENTS AT SEVERAL CALIFORNIA COLLEGES AND UNIVERSITIES, AND CURRENTLY AT ONE OUT-OF-STATE INSTITUTION, ARIZONA STATE UNIVERSITY. STUDENTS RECEIVE LIVING SUPPLIES SUCH AS BED SHEETS, BATH TOWELS, TOILETRIES, HANGERS, LAMPS, AND COLLEGE SWAG TO HELP MAKE THEIR MOVE-IN EXPERIENCE LESS BURDENSOME. WE ALSO PROVIDE GIFT CARDS TO PURCHASE ADDITIONAL ITEMS WORTH OVER $500 TO ENSURE STUDENTS HAVE EVERYTHING THEY NEED TO BEGIN THEIR COLLEGE JOURNEY FEELING SUPPORTED AND CARED FOR. BEYOND PROVIDING THE MOVE-IN SUPPLIES, STAFF AND VOLUNTEERS ALSO HELP STUDENTS PHYSICALLY MOVE THEIR ITEMS AND BELONGINGS INTO THEIR DORM ROOM, AND PARTICIPATE IN PACKING AND SENDING CARE PACKAGES THROUGHOUT THE YEAR. THE PROGRAM ALSO SERVES AS A RECRUITING PIPELINE FOR FOSTER YOUTH TO JOIN THE RTS PROGRAM DURING THE SOPHOMORE YEAR OF THEIR UNDERGRADUATE STUDIES. THE YAC SCHOLARS (YOUTH ADVISORY COUNCIL): ARE A GROUP OF COLLEGE STUDENTS AND RECENT COLLEGE GRADUATES SELECTED BY THE SNAP FOUNDATION WHO ARE PURSUING CAREERS IN THE CREATIVE ECONOMY. THE RTS/YAC PROGRAM PROVIDES THE YAC MEMBERS WITH PERSONALIZED CAREER COACHING, ACCESS TO THE RTS NETWORK OF PROFESSIONALS, INDUSTRY FOCUSED WORKSHOPS AND JOB SEARCH ASSISTANCE. YAC SCHOLARS PARTICIPATE IN THIS PROGRAM FOR ONE YEAR AND GAIN THE KNOWLEDGE, SKILLS AND EXPERIENCES THEY NEED TO BEGIN OR CONTINUE THEIR CAREER JOURNEYS IN CREATIVE FIELD

    Expenses $144,308 · Grants $61,389

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Todd Kessler

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Elizabeth Friedman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Karen Kehela Sherwood

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tania Suster

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Emmanuel Benton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Natalie Catalan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jon Gimbel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eddie Valcin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Romi Lassally

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $145,547
    From this org
    $135,100
    From related orgs
    $0
    Other
    $10,447
    Hours/week
    40

  • Patrick McCabe

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $60,700
    From this org
    $60,100
    From related orgs
    $0
    Other
    $600
    Hours/week
    40

  • Frances Hardy

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $125,980
    From this org
    $116,433
    From related orgs
    $0
    Other
    $9,547
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202421319349304212

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