Civic Intelligence

Readdi Inc.

990 • Fiscal year 2023 • EIN 88-3812342

Jul 01, 2022 to Jun 30, 2023 • Filed on May 30, 2024

Organization ProfileREADDI.ORG
136 E Rosemary Street 119Chapel Hill, NC 27514

(919) 357-8326

Siviq Scores

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

Liabilities / Assets

47th percentile

0.01x

Higher debt load relative to assets than 47% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

44th percentile

0.01x

Higher debt load relative to revenue than 44% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

97th percentile

82%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

99th percentile

$493,352

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 61.6% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets47th percentile

Assets

$667,606

No earlier filing loaded for comparison.

Net Assets

$659,606

No earlier filing loaded for comparison.

Liabilities

$8,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin97th percentile

Revenue

$800,515

No earlier filing loaded for comparison.

Expenses

$140,909

No earlier filing loaded for comparison.

Net Income

$659,606

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Assets 2023: $667,606Liabilities 2023: $8,000Net Assets 2023: $659,6062023Assets 2024: $1,668,571Liabilities 2024: $94,208Net Assets 2024: $1,574,3632024Assets 2025: $1,321,299Liabilities 2025: $249,084Net Assets 2025: $1,072,2152025

Highlighted filing

2023

Assets$667,606
Liabilities$8,000
Net Assets$659,606
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2023: $800,515Expenses 2023: $140,909Net Income 2023: $659,6062023Revenue 2024: $1,468,046Expenses 2024: $553,289Net Income 2024: $914,7572024Revenue 2025: $623,604Expenses 2025: $1,125,752Net Income 2025: -$502,1482025

Highlighted filing

2023

Revenue$800,515
Expenses$140,909
Net Income$659,606
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 30, 2024
Return Version
2022v5.0
Gross Receipts
$800,515
Mission and Program Overview

Mission

The rapidly emerging antiviral drug development initiative (readdi) is a nonprofit biotechnology organization dedicated to preventing global catastrophes caused by viruses and a leader in the therapeutics pillar of the 3-pronged pandemic preparedness and response structure of ipps.

The rapidly emerging antiviral drug development initiative readdi is a nonprofit biotechnology organization dedicated to preventing global catastrophes caused by viruses. It plays a clear, specific and central role in the widely accepted three-pronged pandemic preparedness approach involving diagnostics, therapeutics and vaccines. Readdi develops therapeutics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$0$667,606▲ $667,606
Rtn Earn Endowment Incm Other Fnds$0$659,606▲ $659,606
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$667,606▲ $667,606
Liabilities
Accounts Payable and Accrued Expenses$0$8,000▲ $8,000
Total Liabilities$0$8,000▲ $8,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$659,606▲ $659,606
Total Liabilities and Net Assets / Fund Balance$0$667,606▲ $667,606
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeOtherTotal
James RosenCEOFT$138,750$138,750

Board Members and Trustees

NameTitle
Andy JohnsBoard Member
Barbara StephensonBoard Member
Brad WilkenBoard Member
J Christopher ClemensBoard Member
John BamforthBoard Member
Laurent FraisseBoard Member
Lydia OgdenBoard Member
Nathan KnuffmanBoard Member
Perrin JonesBoard Member
Richard BurrBoard Member
Tom ShanahanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$791,809
Program Service Revenue
$0
Investment Income
$8,706
Other Revenue
$0
Change in Net Assets
$659,606

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table5$66,809Cost
Total Noncash Contributions5$66,809-

Audited Revenue Reconciliation

Revenue per Audited Statements
$800,515
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$335,090
Total Revenue per Audited Statements
$1,135,605
Total Revenue per Form 990
$800,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,909
Total Fundraising Expense$70,456
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$31,666$13,571$45,239$90,476
Office Expenses$8,750$3,750$12,500$25,000
Travel$7,554$3,237$10,792$21,583
Conferences and Meetings$1,347$578$1,925$3,850
Total Functional Expenses$49,317$21,136$70,456$140,909

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$475,999
Expenses Not Reported on Form 990$335,090
Expenses per Audited Statements$140,909
Total Expenses per Form 990$140,909
Expenses Not Reported on Financial Statements$0
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
Audit committee
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“University of north carolina chapel hill is sole member”

Form 990, Part VI, Section A, Line 7A

“The university of north carolina chapel hill, the sole member of the organization, appoints board members”

Form 990, Part VI, Section A, Line 7B

“The university of north carolina chapel hill, as the sole member of the organization, reserves the right to make certain governance decisions of the organization.”

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

“No committee has the authority to act on behalf of the governing board.”

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

“The full board of directors was provided with a copy of the 990 for review prior to filing.”

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

“At each board meeting, board members are required to disclose any conflicts of interest that have arisen since the previous board meeting.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Readdi Inc
EIN
88-3812342
Phone
9193578326
Address
136 E ROSEMARY STREET 119, CHAPEL HILL, NC 27514

Signing Officer

Name
James Rosen
Title
Chief Executive Officer
Phone
9193578326
Signed
2024-05-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Rosen
Formed
2020
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
6
Employees
0
Volunteers
14

Preparer

Firm
Blackman & Sloop Cpas Pa
Address
1414 RALEIGH ROAD SUITE 300, CHAPEL HILL, NC 27517
Preparer
Robert Lewis
Phone
9199428700
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services: program service expenses 30,203. Management and general expenses 12,944. Fundraising expenses 43,148. Total expenses 86,295. Miscellaneous: program service expenses 1,463. Management and general expenses 627. Fundraising expenses 2,091. Total expenses 4,181.”

Form 990 Part XII, Line 2C

“The organization has an audit committee that is responsible for the selection of the independent auditors and oversight of the process.”

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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0335090
IRS990ScheduleD/DonatedServicesUseFcltsAmt0335090
IRS990ScheduleD/ExpensesNotReportedAmt0335090
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0140909
IRS990ScheduleD/RevenueNotReportedAmt0335090
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0800515
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0140909
IRS990ScheduleD/TotalRevenuePerForm990Amt0800515
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01135605
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0475999
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt216125
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt315020
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt4750
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0425652
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1396944
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2315339
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3306827
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4328584
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt174725
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt274725
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt374725
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt442182
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt014800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt18284
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt219782
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt396
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt010718
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt110320
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt2840
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt33756
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt4840
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0J CHRISTOPHER CLEMENS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1NATHAN KNUFFMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ANDY JOHNS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3BARBARA STEPHENSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JOHN BAMFORTH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4BOARD MEMBER
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3400424
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt4372356
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt05
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0OPERATING EXPENSES
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0COST
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt066809
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UNIVERSITY OF NORTH CAROLINA CHAPEL HILL IS SOLE MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE UNIVERSITY OF NORTH CAROLINA CHAPEL HILL, THE SOLE MEMBER OF THE ORGANIZATION, APPOINTS BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE UNIVERSITY OF NORTH CAROLINA CHAPEL HILL, AS THE SOLE MEMBER OF THE ORGANIZATION, RESERVES THE RIGHT TO MAKE CERTAIN GOVERNANCE DECISIONS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FULL BOARD OF DIRECTORS WAS PROVIDED WITH A COPY OF THE 990 FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AT EACH BOARD MEETING, BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST THAT HAVE ARISEN SINCE THE PREVIOUS BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 30,203. MANAGEMENT AND GENERAL EXPENSES 12,944. FUNDRAISING EXPENSES 43,148. TOTAL EXPENSES 86,295. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 1,463. MANAGEMENT AND GENERAL EXPENSES 627. FUNDRAISING EXPENSES 2,091. TOTAL EXPENSES 4,181.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT IS RESPONSIBLE FOR THE SELECTION OF THE INDEPENDENT AUDITORS AND OVERSIGHT OF THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$667,606
Liabilities
$8,000
Net assets
$659,606
Revenue
$800,515
Expenses
$140,909
Net income
$659,606
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.32$0.25$1.07$0.62$1.13$0.50
2024Detailed filing. Detailed filing data is available for this year.$1.67$0.09$1.57$1.47$0.55$0.91
2023Detailed filing. Detailed filing data is available for this year.$0.67$0.01$0.66$0.80$0.14$0.66