2025-02-17T14:48:45-05:00 2024-12-31 Mullins PC 7625 Wisconsin Avenue Bethesda MD 20814 990EZ 2024-07-01 851103573 Virginia Ready Initiative % Carol Jensen VIRG 7034953653 107 S West Street STE 135 Alexandria VA 22314 CAROL JENSEN Dir of Finance & Operations 7034953653 2025-02-17 true true JOHN MULLINS P01429307 2027706371 2025-02-17 2024 2025-03-06 01:10:19Z X X X www.vaready.org X X 222 X 222 222 2151516 89865 630 135 118377 2360523 -2360301 2360301 X 2291570 0 24202 0 387410 0 2703182 0 342881 0 2360301 0 See Schedule O. See Schedule O. 2151516 2240822 2240822 Thomas J MacInerney Chair 15.00 0 0 0 Natalie Foster Executive Director 1.00 0 0 0 Cynthia Lawrence Director 1.00 0 0 0 Becky Sawyer Director 1.00 0 0 0 Maria Tamburri Director 1.00 0 0 0 Glenn Ballard Director 1.00 0 0 0 X false true false false true false false false false Natalie Foster 107 S West Street Alexandria VA 22314 7034953653 false false false false false false false false false false NONE NONE true X 3960812 1370901 1135012 90500 6557225 3960812 1370901 1135012 90500 6557225 4153418 2403807 74958 104755 110953 222 290888 6848113 0.35100 0.00000 X Dissolution of Funds 2024-10-01 516879 540739250 United Way of Southwest Virginia EO PO Box 6202 Christiansburg VA 24068 501c3 Dissolution of Funds 2024-10-01 310127 540506322 United Way of South Hampton Roads 2515 Walmer Avenue Norfolk VA 23513 501c3 Dissolution of Funds 2024-10-01 413503 237375346 United Way of Greater Richmond 7814 Carousel Lane 400 Henrico VA 23294 501c3 Dissolution of Funds 2024-10-01 413503 541920746 Community Fnd of Harrisonburg PO Box 1068 Harrisonburg VA 22803 501c3 Dissolution of Funds 2024-10-01 413503 521558571 Claude Moore Charitable Foundation 11350 Random Hills Road Ste 730 Fairfax VA 22030 PF Dissolution of Funds 2024-10-01 50000 043534407 Year Up Inc 45 Milk Street 9th Floor Boston MA 02110 501c3 false false false false true true true true false List of grants and similar amounts paid Part I line 10 Grantee United Way of Southwest Virginia - Street PO Box 6202 City, State, Zip Christiansburg, VA 24068Amount 516,879Grantee United Way of South Hampton Roads Street 2515 Walmer Avenue City, State, Zip Norfolk, VA 23513Amount 310,128Grantee United Way of Greater Richmond & PeStreet 7814 Carousel Lane 400 City, State, Zip Henrico, VA 23294Amount 413,503Grantee Community Fdn of Harrisonburg and RStreet PO Box 1068 City, State, Zip Harrisonburg, VA 22803Amount 413,503Grantee Claude Moore Charitable Foundation Street 11350 Random Hills Road, Ste 730 City, State, Zip Fairfax, VA 22030Amount 413,503Grantee Year Up United Street 45 Milk Street, 9th Flr City, State, Zip Boston, MA 02110Amount 50,000Activity Grants to individuals $1,000 each Amount 34,000 Description of other expenses Part I line 16 Description AmountLegal Services 2,500Accounting Services 28,376Audit/Tax Services 18,000Contracted Services 3,542Subscriptions 5,687Telecommunications 925Bank Service Charges 1,214IT Consultants 7,793Website Hosting 4,325Website Development 4,812Software License Fees 5,980Depreciation 3,299Insurance 349Loss on Disposal 20,903Tax Expense 1,312Payroll Tax 5,383Miscellaneous 3,977 Description of other assets Part II line 24 Category Beginning of Year End of YearPrepaid Expenses 7,728 0Investments 379,682 0 Description of total liabilities Part II line 26 Category Beginning of Year End of YearAP & Accrued Expenses 342,881 0 Changes to governing documents Part V line 34 After four years of Operations, Virginia Ready Initiative Sunset Operations as of September 30, 2024.Founded in 2020 as a two-year COVID-19 initiative, the Virginia Ready team and board have determined the impact of the original organization can scale faster by shifting to invest in established organizations already dedicated to credentialing and non-traditional education Virginia Ready Initiative, a state-wide nonprofit, has been a catalyst for community change in workforce development, investing over $6.4M in four years to support over 6,400 career-minded scholars to receive an in-demand credential, obtain career readiness skills, and connect them to family sustaining career opportunities. To date, over 6,300 scholars have already received their credential and another 135 scholars are in the pipeline to obtain their credential by September 15, 2024. Virginians gain real-world skills and enhance their career prospects through credentialing. Over 68% of Virginia Ready scholars have received employment.This legacy of partnership will continue, by investing back the organizations remaining funds into nonprofits making significant strides across the state (and regionally). These include United Way of South Hampton Roads, United Way of Southwest Virginia - EO, United Way of Greater Richmond & Petersburg, the Community Foundation of Harrisonburg and Rockingham County, and Claude Moore Foundation/Claude Moore Opportunities. General explanation attachment Exempt Purpose: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.Program Service Accomplishments:In 2024: Virginia Ready Initiative, a state-wide nonprofit, has been a catalyst for community change in workforce development, investing over $6.4M in four years to support over 6,400 career-minded scholars to receive an in-demand credential, obtain career readiness skills, and connect them to family sustaining career opportunities. To date, 6,344 scholars have already received their credential Virginians were able to gain real-world skills and enhance their career prospects through credentialing. Since inception, over 68% of Virginia Ready Scholars have gained employment. Since inception, Virginia Ready Scholars obtaining Credentials:Year EndingYear One of Operations 703 Scholars 6.30.21Year Two of Operations1,868 Scholars 6.30.22Year Three of Operations2,956 Scholars 6.30.23Year Four of Operations 785 Scholars 6.30.24Year Five -Close out of Operations 34 Scholars 9.30.24 Founded in 2020 as a COVID-19 initiative by Suzanne and Glenn Youngkin, the mission continued to rapidly reskill Virginians for in-demand careers and develop their workplace readiness skills, creating partnerships with some of the largest employers and institutions across the state, including the Virginia Community College System (VCCS), Dominion Energy, Genworth Financial, Sentara Health, and others. After four successful years, the Virginia Ready team and board have determined the impact of the mission can scale faster by shifting to invest in established organizations dedicated to credentialing and non-traditional education that will lead Virginians on career paths toward economic mobility. This legacy of partnership will continue, by investing back the organizations remaining funds into nonprofits making significant strides across the state (and regionally). These include United Way of Southwest Virginia - EO, United Way of South Hampton Roads, United Way of Greater Richmond & Petersburg, the Community Foundation of Harrisonburg and Rockingham County, and Claude Moore Charitable Foundation/Claude Moore Opportunities. Virginia Ready was built on a conviction that every Virginian should have a chance to build the skills they need to help them get to where they want to go. This belief not only guided our work, but also helped us connect with the workforce organizations in Virginia making similar impact and were excited to further invest in them, said Natalie Foster, Virginia Ready Executive Director. The organizations were selected based on geographic region, their commitment to showing impact data and their alignment with the Virginia Ready mission objectives:1.Connecting scholars to high-quality, industry-specific training programs.2.Supporting career advancement in individuals careers.3.Driving economic growth and prosperity in Virginia by developing career-minded citizens.4.Being a skills-first ally in the workforce by providing equal access.5.Building strong partnerships with businesses, educational institutions, and community organizations. We are so grateful for Virginia Ready and their shift to invest in the network, said Travis Staton, President & CEO of EO. They truly exemplify the belief that we can go further together. This gift will greatly accelerate our work to connect the workforce of tomorrow with the skills, training, and experiences needed to be successful in vital growth sectors such as skilled trades, healthcare, and information technology. We are so grateful to Virginia Ready for their shift to invest in this work. At the United Way of South Hampton Roads, we believe in the power of collaboration and the importance of addressing the most important needs in our community, said Mark Uren, President & CEO. This funding allows us to expand our work around economic mobility and truly exemplifies our mutual commitment to improving lives. We are happy to support Virginia Ready and their shift to invest in our regions workforce preparedness. We believe workforce development helps create a stronger financial future for every generation. Financial well-being leads to strong communities. We want to help everyone get there and it starts with stable employment with financial stability. Barbara Couto Sipe, President & CEO, United Way of Greater Richmond & Petersburg. The Community Foundation of Harrisonburg and Rockingham County is honored to have been chosen to be a local partner with Virginia Ready Initiative. This grant funding will benefit adult learners namely in the nursing and vocational fields. The Community Foundation values education in all its forms and thats where our new partnership with Virginia Ready comes into play. Thanks to this funding, we will be able to support adults who want better lives for themselves and their families. Thank you Virginia Ready for selecting The Community Foundation to carry out your mission in the Shenandoah Valley. Revlan Hill, Executive Director. Claude Moore Opportunities is grateful to receive this extraordinary gift from Virginia Ready as we launch our new initiative to address Virginias healthcare workforce shortage and to provide increased and improved career opportunities for Virginians, said Dr. William Hazel, Jr., CEO of Claude Moore Opportunities and former Virginia Secretary of Health and Human Resources. Claude Moore Opportunities will use this gift to build on the important work done by Virginia Ready to help Virginians receive in-demand credentials and career readiness skills, as well as the Claude Moore Charitable Foundations 20-year record of success in supporting collaborative efforts to expand opportunity and meet the needs of communities around the Commonwealth. A Snapshot from COVID-19:As businesses grappled with closures and layoffs, and traditional employment avenues dwindled, a new reality emergedthe need for a workforce equipped with adaptable skills aligned with the demands of a rapidly evolving economy. Across sectors such as Healthcare, IT/Technology, and Skilled trades, the demand for specialized talent continued to grow, presenting both an opportunity and a challenge for Virginians seeking to navigate the shifting landscape of employment. Virginia Ready responded with a comprehensive solution designed to bridge the gap between job seekers and in-demand industries. By leveraging partnerships with leading employers, educational institutions, and community organizations, Virginia Ready embarked on a mission 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 education. Why Virginia Ready?:How were all these challenges to be solved? As its core, Virginia Ready was not created to reinvent the wheel or duplicate services. Its vision was to creatively take advantage of existing infrastructure to support the immediate needs of displaced workers. Unemployment was high, but the demand for talent was equally as dire. How could an organization connect the dots for job seekers and employers?With that goal in mind, a talent development ecosystem emerged. It put Virginians at its center to advocate, convene, and drive results. Virginia Ready was established. Addressing the Skills Gap:Workforce credential programs serve as a catalyst for economic prosperity in Virginia and offer the following benefits:Enhance Employability and Earning Potential:Credentials validate individuals skills and expertise, making them more attractive to employers seeking qualified candidates, positioning themselves for higher wages and long-term career advancement.Align with Industry Needs:Workforce credential programs are designed in collaboration with industry experts and employers, ensuring that the skills taught are relevant and in-demand. Drive Efficiency and Reduce Costs:Workforce credential programs are often more efficient and cost-effective than a 4-year degree. Individuals can acquire valuable skills and certifications faster, reducing financial burdens and helping them to enter the workforce faster.Address the Skills Gap Through Credentialing:The Virginia Ready model was built on the conviction that every Virginian should have the chance to build the skills they need to help them get to where they want to go.The 2020 events highlighted a skilled worker shortage, despite high unemployment. Virginia Ready aimed to understand and address this disconnect between job openings and talent availability. Supported by McKinsey & Company, Virginia Ready gathered data on job market conditions and employer needs to link job seekers with high-quality training. This a