2024-02-12T15:27:17-05:00 2023-06-30 474306215 Mullins PC 7625 Wisconsin Avenue Bethesda MD 20814 990 2022-07-01 851103573 Virginia Ready Initiative VIRG 107 S West Street STE 135 Alexandria VA 22314 Natalie Foster Executive Direc 7034953653 2024-02-12 true Natalie Foster XXX-XX-XXXX John Mullins P01429307 2027706371 2024-02-12 0 00 AAL1 IAL1 2022 2023-04-26 12:10:37Z Natalie Foster 3242827 false X www.vaready.org X 2020 VA To enable Virginians to acquire the skills and resources they need to succeed in a competitive job market, while uplifting the value of credential-based scholars. 6 5 18 50 0 0 1370901 1135012 3060 98480 52727 0 1469381 1190799 1868000 2956000 0 893403 892177 0 60285 471829 331603 3233232 4179780 -1763851 -2988981 7826033 4956848 248040 283887 7577993 4672961 X To enable Virginians to acquire the skills and resources they need to succeed in a competitive job market, while uplifting the value of credential-based scholars. false false 3737561 2956000 2023 was another successful year for Virginia Ready in our work to build the credibility of and create access to credential-based learning opportunities across the Commonwealth. What began as an urgent need to re-skill Virginians amid a pandemic has evolved into a force for continued progress in upskilling Virginians for economic mobility. The workforce challenges Virginia Ready continues working to address are complex: lower participation in the workforce, aging Americans with limited retirement savings, unaffordable college tuitions, antiquated recruiting and hiring practices, to name just a few. Theres certainly no one way to address all these challenges. The comprehensive approach that Virginia Ready takes to educate, equip, and empower our scholars is making meaningful progress.(Continued on Schedule O) 3737561 true true false false false false false false false false true false false false false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 2480 0 true 18 true false false false false false false false false false false false false X 6 5 false false false false false false false true true false false true true true true true true true true false X X Natalie Foster 7034953653 107 S West Street Alexandria VA 22314 X Natalie Foster Executive Director 40.00 0.00 X 137655 0 0 Carol Jensen Director of Finance 40.00 0.00 X 116733 0 16932 Becky Sawyer Director 1.00 0.00 X 0 0 0 Maria Tamburri Director 1.00 0.00 X 0 0 0 Loretta A Penn Director 1.00 0.00 X 0 0 0 Cynthia Lawrence Director 1.00 0.00 X 0 0 0 Thomas J MacInerney Chair 15.00 0.00 X X 0 0 0 254388 0 16932 2 false false false 1135012 1135012 Partnership Services 900099 3060 3060 3060 104755 104755 2000000 2052028 -52028 -52028 -52028 1190799 3060 0 52727 2956000 2956000 159577 121278 22341 15958 600091 446017 129866 24208 25652 19156 5140 1356 49976 36762 10930 2284 56881 42477 11397 3007 1953 1953 80581 80581 8824 8824 49310 15760 27064 6486 2815 2700 115 35403 17754 16823 826 96984 60773 32911 3300 4095 1860 2235 22817 1205 21509 103 6418 4793 1286 339 1259 1259 Dues and Subscriptions 2833 287 553 1993 Bank Service Charges 4307 4307 Tax Expense 7532 6432 1100 Other 6472 6047 425 4179780 3737561 381934 60285 1779964 943449 1050000 853060 18166 24358 52848 10230 12392 42618 4965511 3093363 7826033 4956848 248040 283887 248040 283887 X 6527993 3822961 1050000 850000 7577993 4672961 7826033 4956848 -2988981 83949 0 X false true X true false X 7026698 3960812 1370901 1135012 13493423 7026698 3960812 1370901 1135012 13493423 8085060 5408363 74958 104755 179713 13673136 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16203 9212 6991 36645 1018 35627 42618 X 1265924 83949 83949 1181975 8824 8824 1190799 4170956 4170956 8824 8824 4179780 Footnote for uncertain tax position under FIN 48 (Part X) VA Ready recognizes the effect of income tax positions only if those positions more likely than not would not be sustained upon examination by the Internal Revenue Service. VA Ready has analyzed the tax positions taken and has concluded that as of June 30, 2023, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. true Credential Achievement Awards 2956 2956000 Organizational document changes Part VI line 4 VA Ready updated its By-laws in FY 22. Form 990 governing body review Part VI line 11 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. Conflict of interest policy compliance Part VI line 12c 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. CEO executive director top management comp Part VI line 15a 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. Other officer or key employee compensation Part VI line 15b 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. Governing documents etc available to public Part VI line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Part III response or note to any other line in Part III 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. Part VII response or note to any other line in Part VII Part VII, Section A, 1a & 1b - Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent ContractorsNatalie Foster, Executive Director, also served as Secretary/Treasurer of the Board due to a Board vacancy until that position was filled, per VA Readys By-laws. As Executive Director, Natalie Foster was not a voting board member. General explanation attachment Program Service Accomplishments Continued:Educate. Beyond the technical aspects of a role, a deeper understanding of workplace dynamics is often critical to success in the workplace, whether youre entering or re-entering the workforce, or switching careers. Virginia Ready and our Skills First Allies continued to support this soft skill development for our scholars in 2023, hosting learning opportunities on topics like total compensation and sharing resources on time management, effective business communication, and resum writing.Equip. Virginia Ready focuses on credential-based programs because they are equitable, repeatable, attainable, and clearly tracked to high demand sectors. Between July of 2022 and June of 2023, Virginia Ready supported nearly 2,700 scholars who earned industry credentials across our three verticals: Healthcare; Business/IT; and Skilled Trades.Empower. While there are obvious advantages for Virginia in upskilling our workforce in high demand sectors, the most important work Virginia Ready does is empowering our scholars. Working at scale across the state, our 37 Skills First Allies are giving more Virginians the information and experiences they need to earn a family-sustaining wage and improve their economic mobility.Who Are Virginia Ready Scholars?In FY23, 2,956 Virginia Ready Scholars achieved their Credentials for in-demand careers in Healthcare; IT Computers & Business Services; and Skilled Trades. Since Inception, 5,527 Virginians have obtained credentials because of the Virginia Ready Initiative. Another 1,733 Virginia Ready Scholars are in the process of obtaining their credential as of June 30, 2023.An overview of the demographics of our Credentialed Scholars:By Gender:Female: 46% Male: 53% Non-Binary: .4% Prefer not to answer: .6%By Education (98.1):High School: 39.2%Some College: 27.3%Bachelors Degree: 10.9%Associate Degree: 9.0%GED: 5.7%Graduate/Prof Degree: 3.2%Other/Unidentified: 4.5% By Ethnicity:Black43.2%White36.8%Hispanic or Latino 5.6%Prefer not to Answer 4.5%Multi-Racial 3.7%Asian 3.6%All others 2.6%By Age:18-2010.7%21-2516.5%26-3015.5%31-3514.5%36-4012.2%41-45 8.6%46-50 5.6%51-55 4.8%56-60 2.6%61-75 1.5%Unidentified 7.5% Since 2020, Virginia Ready has awarded $5.5 million ($5,527,000) to scholars who have completed the program as they achieve their goals and build fulfilling careers. Of our credentialed Virginia Ready Scholars, 69% are employed; or have advanced in their career or had the opportunity to advance in their positions.Employer Engagement:Too often job seekers are left behind after training. Through employer engagement, Virginia Ready creates more opportunity for scholars to find family sustaining employment: Skills First Ally Highlight: Genworth & MaximusTwo Fortune 500 Companiesfounding partners of Virginia ReadyGenworth Financial and Maximus located in Richmond, VA approached Virginia Ready with a need: to help them fill customer service positions at their call centers. Both were companies offering in person and remote work positions with the goal of hiring 25 or more per month. CCWA, which is composed of Reynolds & Brightpoint Community Colleges, already had a FastForward program that led to a credential in customer service. The problem? They had a hard time filling it and the class had not been run in years. Together, CCWA and Virginia Ready committed to reviving the course to support the hiring needs of these two great companies that both offered competitive salaries and most importantly, a career path with upward mobility.Beginning in March of 2023, led by Virginia Ready, members of CCWA, Genworth, and Maximus met to review curriculum, create marketing strategies for recruitment into the course, and began planning hiring information sessions that would direct scholars to their open positions.A small cohort of scholars kicked off in June with two additional full classes scheduled for the fall. Skills First Ally Highlight: VerisignOctober 2022 marked the end of a six-month mentorship program where Virginia Ready Scholars were paired with mentors in the tech/IT industry, receiving guidance on their career journey. The program was made possible by our partnership with Verisign, a technology company focused on domain name registry services and internet infrastructure. Verisign employees graciously volunteered their time and expertise to serve as mentors and invest in the lives of our Scholars.Meeting Scholar Needs:Virginia Ready expanded our list of Education Partners in June 2023 by onboarding the Commonwealth Cyber Initiative as an Education Partner to address the needs of our IT scholars who are looking to work in this competitive industry.This unique offering allowed scholars the opportunity to take a 7-week bootcamp course and gain real world experience in the IT industry by completing a 12-week paid apprenticeship program with a Virginia business. Information learned during the bootcamp is so thorough and robust that at the time of completion, participants can sit for the CompTIA Security+, CompTIA Network+, or AWS Cloud Practitioner credential, allowing for options to choose their pathway into the industry.Our partnership with this organization benefits future career switchers by allowing them to learn new skills, network with other career minded individuals, and cultivate relationships with their potential future employer.In the Community:The Virginia Ready team traveled across the state to spread the word about our program, advocate for skills-first hiring, and celebrate workforce partners uplifting credentialed Virginians: Girl Power - Charlottesville Virginia Ready Initiative joined the Virginia, Maryland & Delaware Association of Electric Cooperatives at their annual Girl Power event, a one-day energy career experience for high school girls interested or curious about working in the energy industry.Hire Ed Conference - RoanokeVirginia Ready deepened relationships with Higher Education Practitioners, learned about the Virginia Talent Opportunity Partnership (VTOP) modules, and presented the impact we have on scholars ability.Hire Vets Now Hampton RoadsAttending the Hire Vets Now Event gave us the opportunity to gain greater insight into the credentials and resources needed by transitioning and active-duty service members. Tidewater Skilled Trades Academy - TidewaterThe team visited Tidewater Community Colleges Skilled Trades Academy in October 2022 and had a chance to meet some of our Scholars in person, see them in action, and get a taste of the stellar welding program. VACCE Conference - WaynesboroTo create more awareness about the benefits of partnering with Virginia Ready, the team presented at the Virginia Association of Chamber of Commerce Executives which led to a partnership with the Commonwealth Cyber Initiative.VHHA Conference - RichmondWe connected with hospital partners at scale when presenting on the benefits of hiring credentialed healthcare talent at their annual Workforce Summit. United Way of Southwest Virginia 2022 Rural Summit - AbingdonNatalie Foster, Executive Director, led a workshop on Business-led Partnerships to Solve Labor Shortages and Skill Gaps. The Rural Summit brought together more than 300 leaders, practitioners, educators, and community members to explore proven strategies for building resilient and prosperous communities.Solutions for the Aging Workforce:Virginia Ready gathered business and education leaders across the Commonwealth virtually to discuss best practices in overcoming knowledge loss while simultaneously preparing incoming talent.Moderated by Virginia Ready Partnerships Manager Taylor Beck, the Summit welcomed speakers Dr. Lori Esposito Murray of the Committee for Economic Development and Matt Kellam of Dominion Energy to discuss their findings and possible solutions:Were dealing with the perfect storm of aging Americans, low birth rates, and less participation in the workforce, said Dr. Murray. She suggested companies reform hiring parameters including hiring based on skill sets over commonly sought-after four-year degrees. Diversifying talent pools will also aid the hiring process by recruiting long-term unemployed candidates, underrepresented groups, and older employees who wish to continue working efforts supported by Virginia Ready and their partners.If were going to appeal to a younger workforce, we have to be deliberate with our education partnerships, said Matt Kellam, Workforce Development and Planning Coordinator of Dominion Energy. Your tenured employee may be the best person to deliver training to classrooms.Virginia Ready hosts a Summit each year to serve as a place for education