Totals
- Total revenue
- $1,190,799
- Total expenses
- $4,179,780
- Contributions and grants received
- $1,135,012
- Grants paid
- $2,956,000
- Program service revenue
- $3,060
- Investment income
- $52,727
- Other revenue
- $0
- Total assets, end of year
- $4,956,848
- Total liabilities, end of year
- $283,887
- Net assets or fund balances, end of year
- $4,672,961
- Program services expenses (Part IX)
- $3,737,561
- Management and general expenses
- $381,934
- Fundraising expenses
- $60,285
- Program service expenses (Part III)
- $3,737,561
Program services were 89.4% 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.
-
1f · All other contributions, gifts and grants
$1,135,012
-
2a · Program service revenue: Partnership Services
total $3,060 · related or exempt $3,060
-
3 · Investment income
total $104,755 · excluded $104,755
-
7a · Gross sales of assets other than inventory
securities $2,000,000
-
7b · Less cost or other basis and sales expenses
securities $2,052,028
-
7c · Gain or loss
securities -$52,028
-
7d · Net gain or loss
total -$52,028 · excluded -$52,028
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $2,956,000 · program services $2,956,000
-
5 · Compensation of officers, directors and key employees
total $159,577 · program services $121,278 · management and general $22,341 · fundraising $15,958
-
7 · Other salaries and wages
total $600,091 · program services $446,017 · management and general $129,866 · fundraising $24,208
-
8 · Pension plan contributions
total $25,652 · program services $19,156 · management and general $5,140 · fundraising $1,356
-
9 · Other employee benefits
total $49,976 · program services $36,762 · management and general $10,930 · fundraising $2,284
-
10 · Payroll taxes
total $56,881 · program services $42,477 · management and general $11,397 · fundraising $3,007
-
11b · Fees: legal
total $1,953 · management and general $1,953
-
11c · Fees: accounting
total $80,581 · management and general $80,581
-
11f · Fees: investment management
total $8,824 · management and general $8,824
-
11g · Fees: other
total $49,310 · program services $15,760 · management and general $27,064 · fundraising $6,486
-
12 · Advertising and promotion
total $2,815 · program services $2,700 · management and general $115
-
13 · Office expenses
total $35,403 · program services $17,754 · management and general $16,823 · fundraising $826
-
14 · Information technology
total $96,984 · program services $60,773 · management and general $32,911 · fundraising $3,300
-
17 · Travel
total $4,095 · program services $1,860 · management and general $2,235
-
19 · Conferences, conventions and meetings
total $22,817 · program services $1,205 · management and general $21,509 · fundraising $103
-
22 · Depreciation, depletion and amortization
total $6,418 · program services $4,793 · management and general $1,286 · fundraising $339
-
23 · Insurance
total $1,259 · management and general $1,259
-
24a · Other expenses: Dues and Subscriptions
total $2,833 · program services $287 · management and general $553 · fundraising $1,993
-
24b · Other expenses: Bank Service Charges
total $4,307 · program services $4,307
-
24c · Other expenses: Tax Expense
total $7,532 · program services $6,432 · management and general $1,100
-
24d · Other expenses: Other
total $6,472 · management and general $6,047 · fundraising $425
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,779,964 · end of year $943,449
-
3 · Pledges and grants receivable
beginning of year $1,050,000 · end of year $853,060
-
9 · Prepaid expenses and deferred charges
beginning of year $18,166 · end of year $24,358
-
10a · Land, buildings and equipment: cost or other basis
$52,848
-
10b · Land, buildings and equipment: accumulated depreciation
$10,230
-
10c · Land, buildings and equipment, net
beginning of year $12,392 · end of year $42,618
-
11 · Investments: publicly traded securities
beginning of year $4,965,511 · end of year $3,093,363
-
17 · Accounts payable and accrued expenses
beginning of year $248,040 · end of year $283,887
-
27 · Net assets without donor restrictions
beginning of year $6,527,993 · end of year $3,822,961
-
28 · Net assets with donor restrictions
beginning of year $1,050,000 · end of year $850,000
Mission and programs · 2022
Mission
To enable Virginians to acquire the skills and resources they need to succeed in a competitive job market, while uplifting the value of credential-based scholars.
-
2023 was another successful year for Virginia Ready in our work to build the credibility of and create access to credential-based learning opportunities across the Commonwealth. What began as an urgent need to re-skill Virginians amid a pandemic has evolved into a force for continued progress in upskilling Virginians for economic mobility. The workforce challenges Virginia Ready continues working to address are complex: lower participation in the workforce, aging Americans with limited retirement savings, unaffordable college tuitions, antiquated recruiting and hiring practices, to name just a few. Theres certainly no one way to address all these challenges. The comprehensive approach that Virginia Ready takes to educate, equip, and empower our scholars is making meaningful progress.(Continued on Schedule O)
Expenses $3,737,561 · Grants $2,956,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Natalie Foster
Executive Director
- Total calculated
- $137,655
- From this org
- $137,655
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Carol Jensen
Director of Finance
- Total calculated
- $133,665
- From this org
- $116,733
- From related orgs
- $0
- Other
- $16,932
- Hours/week
- 40
-
Becky Sawyer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Maria Tamburri
Director
- Total calculated
- $0
- Hours/week
- 1
-
Loretta A Penn
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cynthia Lawrence
Director
- Total calculated
- $0
- Hours/week
- 1
-
Thomas J MacInerney
Chair
- Total calculated
- $0
- Hours/week
- 15
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
- 12 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202410439349301811
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.