Civic Intelligence

Ready to Succeed

990 • Fiscal year 2020 • EIN 83-2282113

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileREADYTOSUCCEEDLA.ORG
1514 17th St No 205Santa Monica, CA 90404

(424) 581-6296

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.12x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

41st percentile

0.09x

Higher debt load relative to revenue than 41% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

84th percentile

35%

Higher net margin than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$69,192

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

94th percentile

125%

Faster asset growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

82%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$842,998

Up $468,351 (+125%) from 2019

Net Assets

Up

$745,948

Up $390,530 (+110%) from 2019

Liabilities

Up

$97,050

Up $77,821 (+405%) from 2019

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin84th percentile

Revenue

Up

$1,106,956

Up $499,925 (+82%) from 2019

Expenses

Up

$716,326

Up $464,713 (+185%) from 2019

Net Income

Up

$390,630

Up $35,212 (+9.9%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2019: $374,647Liabilities 2019: $19,229Net Assets 2019: $355,4182019Assets 2020: $842,998Liabilities 2020: $97,050Net Assets 2020: $745,9482020Assets 2021: $763,363Liabilities 2021: $28,030Net Assets 2021: $735,3332021Assets 2022: $1,450,992Liabilities 2022: $262,686Net Assets 2022: $1,188,3062022Assets 2023: $3,092,875Liabilities 2023: $209,568Net Assets 2023: $2,883,3072023Assets 2024: $3,282,663Liabilities 2024: $229,753Net Assets 2024: $3,052,9102024

Highlighted filing

2020

Assets$842,998
Liabilities$97,050
Net Assets$745,948
Open 2020 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $607,031Expenses 2019: $251,613Net Income 2019: $355,4182019Revenue 2020: $1,106,956Expenses 2020: $716,326Net Income 2020: $390,6302020Revenue 2021: $435,478Expenses 2021: $446,093Net Income 2021: -$10,6152021Revenue 2022: $2,235,730Expenses 2022: $1,841,246Net Income 2022: $394,4842022Revenue 2023: $4,548,021Expenses 2023: $2,851,054Net Income 2023: $1,696,9672023Revenue 2024: $4,352,816Expenses 2024: $4,183,213Net Income 2024: $169,6032024

Highlighted filing

2020

Revenue$1,106,956
Expenses$716,326
Net Income$390,630
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$1,119,490
Mission and Program Overview

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.

To empower foster youth in college to graduate and launch meaningful careers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$346,447$814,798▲ $468,351
Pledges and Grants Receivable$25,000$25,000→ $0
Prepaid Expenses and Deferred Charges$3,200$3,200→ $0
Total Assets$374,647$842,998▲ $468,351
Liabilities
Unsecured Notes Loans Payable-$59,200-
Accounts Payable and Accrued Expenses$19,229$37,850▲ $18,621
Total Liabilities$19,229$97,050▲ $77,821
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$355,418$745,948▲ $390,530
Total Net Assets Fund Balance$355,418$745,948▲ $390,530
Total Liabilities and Net Assets / Fund Balance$374,647$842,998▲ $468,351
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Romi LassallyCo-executive DirectorFT$69,192$69,192
Patrick MccabeCo-executive DirectorFT$38,358$38,358

Board Members and Trustees

NameTitle
Elizabeth FriedmanChair
Todd KesslerVice-chair
Alyssa LanzDirector
Felix RuanoDirector
Fred BennettDirector
Tania SusterDirector
Thomas LeeDirector
Karen Kehela SherwoodSecretary
Robbin SteifTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,106,658
Program Service Revenue
$0
Investment Income
$298
Other Revenue
$0
All Other Contributions
$1,106,658
Change in Net Assets
$390,630
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$449,803
Other Expenses$207,190
Total Fundraising Expense$80,668
Grants and Similar Amounts Paid$59,333
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$249,909-$52,459$302,368
Current Officers, Directors, Trustees, and Key Employees$69,550$20,000$20,000$109,550
Grants to Domestic Individuals$59,333--$59,333
Fees for Services Other$35,381$18,625-$54,006
Occupancy$42,580--$42,580
Payroll Taxes$25,689$1,600$5,797$33,086
Office Expenses$12,334$10,235$532$23,101
Information Technology$14,978$5,570-$20,548
Insurance$917$6,892-$7,809
Fees for Services Accounting-$7,274-$7,274
Conferences and Meetings$3,629$1,137$75$4,841
Other Employee Benefits$4,799--$4,799
Other Expenses$135$1,413$1,761$1,548
Travel$975$102-$1,077
Fees for Services Legal$35$70-$105
Total Functional Expenses$561,644$74,014$80,668$716,326
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“No committee has the authority to act without the approval of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the co-executive directors. A copy is then furnished to all members of its governing board for final approval.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed on a yearly basis.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are made available upon written request.”

Filing and Contact Details

Filer

Filer Name
Ready to Succeed
EIN
83-2282113
Phone
4245816296
Address
1514 17TH ST NO 205, SANTA MONICA, CA 90404

Signing Officer

Name
Patrick Mccabe
Title
Co-executive Director
Phone
4245816296
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Mccabe
Formed
2018
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
9
Volunteers
6

Preparer

Firm
Lopez Accounting Group
Address
3500 WEST OLIVE AVENUE SUITE 680, BURBANK, CA 91505
Preparer
Juan P Lopez CPA
Phone
8188407075
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IRS990/MissionDesc0READY 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.
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IRS990/ReconcilationRevenueExpnssAmt0390630
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01106658
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0607031
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt011
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IRS990ScheduleA/SubstantialContributorsTotAmt0370164
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01106658
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01713689
IRS990ScheduleA/TotalSupportAmt01713700
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt059333
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0BASIC NEED AND EMERGENCY GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt059
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL GRANT APPLICANTS MUST APPLY FOR GRANTS THROUGH OUR BRIDGE FUND APPLICATION AND ALSO SUBMIT A BUDGET. GRANTS ARE AWARDED TO COVER BASIC NEED AND EMERGENCY EXPENSES ALONG WITH OTHER COSTS ASSOCIATED WITH MOVING FROM COLLEGE INTO THE ADULT WORLD. THESE POST GRAD EXPENSES INCLUDE HOUSING, TRANSPORTATION, CLOTHING, FOOD AND UNFORESEEN MEDICAL COSTS. WE MONITOR THE FUNDS BY PAYING EXPENSES DIRECTLY (IE TO A LANDLORD) WHEN POSSIBLE AND DOING REGULAR CHECK INS WITH THE RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTEE HAS THE AUTHORITY TO ACT WITHOUT THE APPROVAL OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE CO-EXECUTIVE DIRECTORS. A COPY IS THEN FURNISHED TO ALL MEMBERS OF ITS GOVERNING BOARD FOR FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED ON A YEARLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt09
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074014
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0561644
IRS990/TotalFunctionalExpensesGrp/TotalAmt0716326
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019229
IRS990/TotalLiabilitiesEOYAmt097050
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt0107550
IRS990/TotalRevenueGrp/ExclusionAmt0298
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalVolunteersCnt06
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090404
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0HTTPS://READYTOSUCCEEDLA.ORG/
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICK MCCABE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04245816296
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0READY TO SUCCEED
ReturnHeader/Filer/BusinessNameControlTxt0READ
ReturnHeader/Filer/EIN0832282113
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LOPEZ ACCOUNTING GROUP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03500 WEST OLIVE AVENUE SUITE 680
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BURBANK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091505

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$842,998
Liabilities
$97,050
Net assets
$745,948
Revenue
$1,106,956
Expenses
$716,326
Net income
$390,630
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$0.23$3.05$4.35$4.18$0.17
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.09$0.21$2.88$4.55$2.85$1.70
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.26$1.19$2.24$1.84$0.39
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.03$0.74$0.44$0.45$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.84$0.10$0.75$1.11$0.72$0.39
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.02$0.36$0.61$0.25$0.36
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $1M-$5M nonprofits