Readyct Inc

Analysis

Readyct Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in May 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Readyct Inc reported income of $3.7m and spending of $3.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $457k to $3.7m (+718%), an average of +69% a year. The sharpest change came in the year to June 2020, when income rose by 131%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Readyct Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Ecap Enterprises Inc ($3.7m), Heart Math Tutoring Inc ($3.7m) and Solomon Schechter Day School of Greater Monmouth County Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $262k (7.5% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $2.8m against liabilities of $840k, net assets of $2.0m. It reported 27 employees.