Virginia Ready Initiative

“The 990 is prepared by an independent accountant. All board members will receive a copy of the Form 990 prior to its filing. Board members shall be provided at least five days to review the Form and should have an opportunity to raise questions, make suggestions and address any potential problems or concerns with the Chair of the Board.”

“Board members and staff are under a continuing obligation to disclose any actual or potential conflict of interest as soon as it is known, or reasonably should be known. Board members and staff are required to complete an annual conflict of interest disclosure and submit it to the Chair of the board. An additional disclosure statement shall be filed at such time as an actual or potential conflict arises. Whenever there is reason to believe that an actual or potential conflict of interest exists between the Organization, the Board of Directors shall determine the appropriate organizational response. Where an actual or potential conflict exists, the party actual or potential conflict of interest shall refrain from the board discussion and/or board vote.”

“In reviewing and approving compensation for the executive, the Board ofDirectors will approve the compensation in advance. The Board will rely on comparability data that demonstrates the fair market value of the compensation in question. The Board will secure data that documents compensation levels for similarly qualified individuals in like positions at like organizations. This data may include the expert compensation studies by independent firms, written job offers for positions at similar organizations, documented telephone calls about similar positions at both non-profit and for profit organizations, and information obtained from IRS Form 990 filings of similar organizations. The Board will document how it reached its decisions including the data on which it relied.”

“In reviewing and approving compensation for key employees, the Board ofDirectors will approve the compensation in advance. The Board will rely on comparability data that demonstrates the fair market value of the compensation in question. The Board will secure data that documents compensation levels for similarly qualified individuals in like positions at like organizations. This data may include the expert compensation studies by independent firms, written job offers for positions at similar organizations, documented telephone calls about similar positions at both non-profit and for profit organizations, and information obtained from IRS Form 990 filings of similar organizations. The Board will document how it reached its decisions including the data on which it relied.”

“The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Managements decision to sunset operations resulted in closing the scholar portal to new applications as of March 30, 2024.”

“Part III - Organizations Mission and VisionMission: The mission of Virginia Ready is to rapidly reskill Virginians for in-demand jobs by supporting credentials in high-growth industries where Scholars have a better chance of finding career pathways that are family-sustaining and fulfilling.Vision:Our vision is to build an inclusive workforce and to be a catalyst for community change by fostering career opportunities for all Virginians.”

“Program Service Accomplishments Continued:Since inception, Virginia Ready Scholars obtaining Credentials:Year EndingYear One of Operations 703 Scholars 6.30.21Year Two of Operations1,868 Scholars 6.30.22Year Three of Operations2,956 Scholars 6.30.23Year Four of Operations 785 Scholars 6.30.24Year Five -Close out of Operations 34 Scholars 9.30.24 Founded in 2020 as a COVID-19 initiative by Suzanne and Glenn Youngkin, the mission continued to rapidly reskill Virginians for in-demand careers and develop their workplace readiness skills, creating partnerships with some of the largest employers and institutions across the state, including the Virginia Community College System (VCCS), Dominion Energy, Genworth Financial, Sentara Health, and others. After four successful years, the Virginia Ready team and board have determined the impact of the mission can scale faster by shifting to invest in established organizations dedicated to credentialing and non-traditional education that will lead Virginians on career paths toward economic mobility. This legacy of partnership will continue, by investing back the organizations remaining funds into nonprofits making significant strides across the state (and regionally). These include United Way of Southwest Virginia - EO, United Way of South Hampton Roads, United Way of Greater Richmond & Petersburg, the Community Foundation of Harrisonburg and Rockingham County, and Claude Moore Charitable Foundation/Claude Moore Opportunities. Virginia Ready was built on a conviction that every Virginian should have a chance to build the skills they need to help them get to where they want to go. This belief not only guided our work, but also helped us connect with the workforce organizations in Virginia making similar impact and were excited to further invest in them, said Natalie Foster, Virginia Ready Executive Director. The organizations were selected based on geographic region, their commitment to showing impact data and their alignment with the Virginia Ready mission objectives:1.Connecting scholars to high-quality, industry-specific training programs.2.Supporting career advancement in individuals careers.3.Driving economic growth and prosperity in Virginia by developing career-minded citizens.4.Being a skills-first ally in the workforce by providing equal access.5.Building strong partnerships with businesses, educational institutions, and community organizations. We are so grateful for Virginia Ready and their shift to invest in the network, said Travis Staton, President & CEO of EO. They truly exemplify the belief that we can go further together. This gift will greatly accelerate our work to connect the workforce of tomorrow with the skills, training, and experiences needed to be successful in vital growth sectors such as skilled trades, healthcare, and information technology. We are so grateful to Virginia Ready for their shift to invest in this work. At the United Way of South Hampton Roads, we believe in the power of collaboration and the importance of addressing the most important needs in our community, said Mark Uren, President & CEO. This funding allows us to expand our work around economic mobility and truly exemplifies our mutual commitment to improving lives. We are happy to support Virginia Ready and their shift to invest in our regions workforce preparedness. We believe workforce development helps create a stronger financial future for every generation. Financial well-being leads to strong communities. We want to help everyone get there and it starts with stable employment with financial stability. Barbara Couto Sipe, President & CEO, United Way of Greater Richmond & Petersburg. The Community Foundation of Harrisonburg and Rockingham County is honored to have been chosen to be a local partner with Virginia Ready Initiative. This grant funding will benefit adult learners namely in the nursing and vocational fields. The Community Foundation values education in all its forms and thats where”