Readykids Inc

Nonprofit profile at a glance

EIN
540546000
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Charlottesville, VA, USA
Phone
4342964118
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Family Services

Official website

Reported finances

Revenue
$3,157,513
Expenses
$3,727,630
Assets
$5,582,902
Liabilities
$140,761

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Jacki Bryant (Executive Director)
  • Melissa Cohen (Deputy Executive Director)
  • Mike Chinn (President)
  • Natalia Palacios (Vice President)

Highest reported compensation

  • Jacki Bryant (Executive Director): $152,459 total reported compensation
  • Melissa Cohen (Deputy Executive Director): $133,882 total reported compensation
  • Bill Barefoot (Director of Finance & Operations): $122,787 total reported compensation

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

Overview

Mission

ReadyKids promotes kids' well-being through counseling, family support, and early learning opportunities. For over 100 years, we have served Charlottesville and the five surrounding counties with programs and services that respond to the changing needs of kids and families. In FY25, we impacted 4,397 kids, parents, and caregivers through our seven programs, and 94.1% of participants met targeted outcomes.

What it reported doing in 2024

Early Learning Programs: ReadySteps encourages parents as a child's first and best teacher through early learning playgroups in neighborhoods and around Charlottesville. STAR Kids teaches preschool-age kids to develop self-regulation and problem solving skills to make healthy choices and avoid risky behaviors. Growing Minds improves the quality of early childhood care and preschool settings by offering professional development, coaching, training and support to early childhood teachers and program leaders. These programs impacted over 2,200 participants, with 90% of participants meeting targeted outcomes.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.6%; rating input score 88
  • Fundraising efficiency: $9.47 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.6% of spending went to programs
  • Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.3M in reported program spending
  • Leadership: top reported pay $152K · 23 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.