READYCT INC

EIN: 274704040 501(c)(3) Education

HARTFORD, CT

Total Revenue
$5,998,405
Total Expenses
$5,179,604
Total Assets
$6,346,659
Net Assets
$2,792,741
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
CT
Principal Officer
SHANNON MARIMON
Phone
8602441109
Tax Period
2023-07-01 to 2024-06-30

READYCT INC, founded in 2011, is a community nonprofit in the Education sector that reported $6.0M in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. Expenses of $5.2M left a modest 14% surplus.

Mission

READYCT WORKS TO ADVANCE ACADEMIC EXCELLENCE AND CAREER-CONNECTED LEARNING FOR ALL PUBLIC SCHOOL STUDENTS IN CONNECTICUT THROUGH COLLABORATION WITH BUSINESS, CIVIC, AND EDUCATION LEADERS.

Program Service Accomplishments

Program 1
Expenses: $4,600,102 Revenue: $1,553,493

FOR THE 2023-24 ACADEMIC YEAR, READYCT OPERATED 17 CAREER PATHWAYS IN 11 SCHOOL BUILDINGS IN FIVE MUNICIPALITIES, WITH TEAM MEMBERS MANAGING AND/OR OFFERING WORK-BASED LEARNING COORDINATION ACROSS 18...

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FOR THE 2023-24 ACADEMIC YEAR, READYCT OPERATED 17 CAREER PATHWAYS IN 11 SCHOOL BUILDINGS IN FIVE MUNICIPALITIES, WITH TEAM MEMBERS MANAGING AND/OR OFFERING WORK-BASED LEARNING COORDINATION ACROSS 18 CAREER PATHWAY PROGRAMS (CPP). READYCT ALSO SUPPORTED A PROJECT IN EASTERN CT FOCUSED ON SUPPORTING YOUTH MANUFACTURING AND HEALTHCARE PIPELINES, REACHING NEARLY 20 SCHOOLS. ALL CPP FOCUSES ON BRINGING BUSINESS PROFESSIONALS AND COMMUNITY-BASED PARTNERS INTO THE SCHOOL IN WAYS THAT COMPLEMENT THEMED COURSEWORK AND HELP STUDENTS UNDERSTAND CAREER OPPORTUNITIES AVAILABLE TO THEM. AS WELL, THE CPP EXPERIENCE PREPARES STUDENTS FOR THOSE OPPORTUNITIES, WHETHER THEY PURSUE CONTINUED EDUCATION/TRAINING OR GO DIRECTLY INTO THE WORKFORCE. READYCT CPP IS SPECIFICALLY DESIGNED TO ALIGN WITH CONNECTICUT'S HIGH-GROWTH, HIGH-DEMAND INDUSTRIES. CURRENT THEMES INCLUDE BUSINESS/FINANCIAL SERVICES, COMPUTER SCIENCE, ENGINEERING/GREEN TECHNOLOGY, HEALTHCARE, INFORMATION TECHNOLOGY, INSURANCE/FINANCIAL SERVICES, MANUFACTURING, AND PUBLIC SERVICE.A CORE COMPONENT OF PROGRAMMING IS STUDENTS' CAREER PREPARATION EXPERIENCE, SO CPP ALSO INCLUDES A WORK-READINESS CURRICULUM THAT HELPS STUDENTS LEARN AND APPLY SKILLS SUCH AS TIME MANAGEMENT, PROFESSIONAL COMMUNICATIONS, PERSONAL BRANDING, WORKPLACE ETIQUETTE, RESUME WRITING, AND INTERVIEWING. FOR MANY STUDENTS, THE CPP EXPERIENCE CULMINATES WITH A PAID INTERNSHIP EXPERIENCE ALIGNED WITH THEIR CAREER PATHWAY THEME. SOME OF THE STATE'S LARGEST EMPLOYERS HOST READYCT INTERNS, INCLUDING HARTFORD HEALTHCARE, TRAVELERS, PRATT & WHITNEY, AND EY. AS WELL, MID-SIZED AND SMALLER, FAMILY-OWNED COMPANIES WELCOME READYCT INTERNS, YEAR AFTER YEAR. FOR 2023-24, OVER 600 STUDENTS HAD HIGH-QUALITY PAID INTERNSHIPS WITH READYCT AS A RESULT OF THEIR CAREER READINESS TRAINING.OTHER READYCT PROGRAMMING ALIGNED WITH CAREER READINESS FOR YOUTH INCLUDE STUDENT 5.0 (FOR HIGH SCHOOL SENIORS GRADUATING WITHOUT A POSTSECONDARY PLAN); FIRST ROBOTICS (TO SUPPORT ENGINEERING AND ROBOTICS COMPETITIONS AND EXPAND ACCESS TO ROBOTICS PROGRAMMING STATEWIDE); THE LIEUTENANT GOVERNOR'SCOMPUTING CHALLENGE; G.R.I.T. (AN INTERNSHIP PROGRAM FOR YOUNGER HIGH SCHOOL STUDENTS); AND F.R.Y.A. (A FIRST RESPONDERS PIPELINE DEVELOPMENT PROGRAM).READYCT PROGRAMMING FOCUSES CHIEFLY ON UNDERSERVED STUDENTS, TYPICALLY LOW-INCOME STUDENTS, DISPROPORTIONATELY REPRESENTED BY STUDENTS OF COLOR. A LARGE MAJORITY OF STUDENTS IN READYCT PROGRAMMING REPORT NAVIGATING ADVERSITY, INCLUDING FOOD INSECURITY, UNSTABLE HOUSING, POVERTY, AND DOMESTIC AND COMMUNITY VIOLENCE. AS A RESULT, READYCT SERVES AS A STABLE AND POSITIVE PRESENCE, HELPING STUDENTS ENVISION WHAT THEY WANT TO BECOME AND HOW TO GET THERE.

Program 2
Expenses: $8,553

READYCT'S MOST RECENT POLICY WORK HAS BEEN AT THE ADMINISTRATIVE LEVEL. THE WORK INCLUDES ENGAGEMENT WITH THE GOVERNOR'S WORKFORCE COUNCIL EDUCATION + TRAINING AND WORK-BASED LEARNING COMMITTEES...

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READYCT'S MOST RECENT POLICY WORK HAS BEEN AT THE ADMINISTRATIVE LEVEL. THE WORK INCLUDES ENGAGEMENT WITH THE GOVERNOR'S WORKFORCE COUNCIL EDUCATION + TRAINING AND WORK-BASED LEARNING COMMITTEES, CHARGED WITH BETTER ALIGNING THE STATE'S PUBILC EDUCATION SYSTEM WITH CONNECTICUT'S WORKFORCE NEEDS.

Program 3

READYCT RAISES PUBLIC AWARENESS THROUGH TARGETED EVENTS (E.G., THE ANNUAL BUSINESS & COMMUNITY PARTNER BREAKFAST), E-MARKETING, MEDIA OUTREACH, SOCIAL MEDIA, AND ITS WEBSITE, WORKING TO PRODUCE...

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READYCT RAISES PUBLIC AWARENESS THROUGH TARGETED EVENTS (E.G., THE ANNUAL BUSINESS & COMMUNITY PARTNER BREAKFAST), E-MARKETING, MEDIA OUTREACH, SOCIAL MEDIA, AND ITS WEBSITE, WORKING TO PRODUCE ENGAGING CONTENT FOR A RANGE OF STAKEHOLDERS. STAKEHOLDERS INCLUDE STUDENTS, PARENTS, TEACHERS, FUNDERS, PARTNERS, COLLABORATORS, LEGISLATORS, AND OTHER INFLUENCERS

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,428,399
Program Service Revenue $1,553,493
Investment Income $13,448
Other Revenue $3,065
TOTAL REVENUE $5,998,405

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,493,710
Fundraising Expenses $16,152
Program Expenses $4,608,655
Other Expenses $1,685,894
TOTAL EXPENSES $5,179,604

Year-over-Year Comparison

2023 2022 Change
Revenue $5,998,405 $3,743,553 +0.6%
Expenses $5,179,604 $3,485,980 +0.5%
Net Income $818,801 $257,573 +2.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
24
Independent Members
24
Employees
48
Volunteers
250

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$250,842
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF AUKER CHAIRMAN 2.00
Officer Director
$0 $0 $0
RICK SHARMA VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
MARINKA NATALE SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
ANDREW BOND DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM T BROWN DIRECTOR 0.50
Director
$0 $0 $0
TRACY CHURCH DIRECTOR 0.50
Director
$0 $0 $0
CHRISTOPHER DIPENTIMA DIRECTOR 0.50
Director
$0 $0 $0
DONNA GALLUZZO DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM GINSBERG DIRECTOR 0.50
Director
$0 $0 $0
JASON HOWEY DIRECTOR 0.50
Director
$0 $0 $0
GORDON HUI DIRECTOR 0.50
Director
$0 $0 $0
GLADIS KERSAINT DIRECTOR 0.50
Director
$0 $0 $0
JEFFREY A KLAUS DIRECTOR 0.50
Director
$0 $0 $0
MATT MCSPEDON DIRECTOR 0.50
Director
$0 $0 $0
FRAN RABINOWITZ DIRECTOR 0.50
Director
$0 $0 $0
BETH REGAN DIRECTOR 0.50
Director
$0 $0 $0
MARK SCHEINBERG DIRECTOR 0.50
Director
$0 $0 $0
ALAN SCHNITZER DIRECTOR 0.50
Director
$0 $0 $0
DAVE SMITH DIRECTOR 0.50
Director
$0 $0 $0
JASON TRUJILLO DIRECTOR 0.50
Director
$0 $0 $0
MELANIE TUCKER DIRECTOR 0.50
Director
$0 $0 $0
MELISSA TURNER DIRECTOR 0.50
Director
$0 $0 $0
RON UTTERBECK DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL VAN LEESTEN DIRECTOR 0.50
Director
$0 $0 $0
SHANNON M MARIMON EXECUTIVE DIRECTOR 40.00
Officer
$238,254 $12,588 $250,842
SHERYL MCNAMEE DEPUTY DIRECTOR 40.00
Highest
$144,475 $8,453 $152,928
NAILAH ABDUL-RAHMAN DIRECTOR OF STUDENT 5.0 40.00
Highest
$131,000 $0 $131,000
YVETTE MORALES CAREER PATHWAYS PROGRAM MANAGER 40.00
Highest
$104,596 $0 $104,596
GLORIA ORTIZ RIVERA DIRECTOR OF QUALITY & INNOVATION 40.00
Highest
$114,000 $5,715 $119,715
MALIA SIEVE DIRECTOR OF CAREER PATHWAYS 40.00
Highest
$134,450 $0 $134,450
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $5,998,405 $5,179,604 $6,346,659 $818,801
2023 $3,743,553 $3,485,980 $2,813,703 $257,573
2022 $2,265,987 $2,015,748 $1,875,248 $250,239
2021 $1,687,275 $1,542,610 $1,719,659 $144,665
2018 $104,959 $480,496 $709,176 $-375,537
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