Ready to Succeed

Nonprofit profile at a glance

EIN
832282113
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Los Angeles, CA, USA
Phone
4245816296
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$4,655,828
Expenses
$4,624,441
Assets
$4,351,347
Liabilities
$1,261,961

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • ROMI LASSALLY (CEO & CO-FOUNDER)
  • ROBIN THOMAS (VICE PRESIDENT FINANCE & OPERATIONS)

Highest reported compensation

  • ROMI LASSALLY (CEO & CO-FOUNDER): $215,929 total reported compensation
  • ROBIN THOMAS (VICE PRESIDENT FINANCE & OPERATIONS): $170,400 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2024

Career accelerator programthe rts career accelerator program is a multi-year career development program designed to support foster youth and first-generation college students as they transition from college to the professional workforce. Participants receive individualized career advising, professional development training, and access to a network of industry mentors and professionals. The program includes career coaching, workshops on professional skills, internship placement support, and financial stipends that allow scholars to participate in career-building opportunities. By addressing social, emotional, and financial barriers that often limit access to professional networks, the program helps scholars successfully complete their college degrees and launch careers aligned with their goals.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.4%; rating input score 70
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: $6.42 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.7%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 38.4% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 31.6% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 36.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 70.4% of revenue deployed · 70.9% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3.3M in reported program spending
  • Leadership: top reported pay $216K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.