Virginia Ready Initiative (EIN 851103573) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

Natalie Foster

Tax Period

2023-07-01 to 2024-06-30

Virginia Ready Initiative, founded in 2020, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2020. Revenue fell 44% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.5M, a strong 62% operating margin.

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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $90,500

Program Service Revenue $41,940

Investment Income $93,336

Other Revenue $0

TOTAL REVENUE $225,776

Expense Breakdown

Grants Paid $783,000

Salaries & Benefits $1,046,470

Fundraising Expenses $564,266

Program Expenses $1,729,959

Other Expenses $743,860

TOTAL EXPENSES $2,573,330

Year-over-Year Comparison

	2023	2022	Change
Revenue	$225,776	$1,190,799	-0.8%
Expenses	$2,573,330	$4,179,780	-0.4%
Net Income	$-2,347,554	$-2,988,981	-0.2%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$171,443

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Natalie Foster	Executive Director	40.00	Officer	$163,937	$7,506	$171,443
Carol Jensen	Dir of Finance & Operations	40.00	Highest	$119,269	$16,520	$135,789
Taylor Beck	Director of Development	40.00	Highest	$100,199	$6,012	$106,211
Maria Tamburri	Director	1.00	Director	$0	$0	$0
Glenn Ballard	Director	1.00	Director	$0	$0	$0
Cynthia Lawrence	Director	1.00	Director	$0	$0	$0
Becky Sawyer	Director	1.00	Director	$0	$0	$0
Loretta A Penn	Past Chair	1.00	Officer Director	$0	$0	$0
Thomas J MacInerney	Chair	15.00	Officer Director	$0	$0	$0

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
2024	$225,776	$2,573,330	$2,703,182	$-2,347,554
2023	$1,190,799	$4,179,780	$4,956,848	$-2,988,981
2022	$1,469,381	$3,233,232	$7,826,033	$-1,763,851
2021	$3,958,631	$1,491,105	$9,637,554	$2,467,526

Virginia Ready Initiative