Ready Set Prep Early Learning Center INC FY2023 filing

Tax-deductible

Windsor Mill, MD501(c)(3)Human ServicesEIN 46-3217231Revenue $210K in FY2023

On file with the IRS2200 N Rolling Rd, 21244-1825 · Windsor Mill, MDTax-exempt since Nov 2014Publicly supported — 509(a)(2)

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Enhance Early childhood Learning

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$33K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $16K a year · 6% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$33K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$301K
206% of total assets
Concern: liabilities are 206% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$210K
+8% vs prior year
Spent
$210K
To programs
90%
Net assets
−$155K
By yearFY2020–FY2024
Revenue
$210K
FY2023▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$178K
FY2021$131K
FY2022$195K
FY2023$210K
FY2024$346K
Expenses
$210K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$210K
FY2024$378K
Net assets
−$155K
FY2023▼ -315%
Tap a bar for its year
Net assets by fiscal year
FY2020$98K
FY2021$113K
FY2022$72K
FY2023−$155K
FY2024−$24K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $188K Management & general 10% · $22K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $33K paid to officers and key staff.

Part VII, Section A · reportable compensation
$33,203Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Electra Collins’s $136K as President is at the 96th percentile of top reported officer pay among 2168 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2021
Electra Collins$136,500$33,203$10,145

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Improves learning for young children.

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Provided by the organization

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1 program · $188K · in their own filed words · FY2023
01

Enhance early childhood learning

$188Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$210K
Ln 12
Fees for servicesLn 2g$210K
Money outPt IX
$210K
Ln 25
Programscol B$188K
Managementcol C$22K
Owns and owesPt X
−$155K
net assets · Ln 32
Cash and savingsLn 1–2$145K
Total assetsLn 16$146K
LiabilitiesLn 26$301K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$210K
Total revenueLn 12$210K
Assets in detailPt X, end of year
CashLn 1$145K
Cash and savings togetherLn 1–2$145K
Land, buildings, equipmentLn 10c$351
Total assetsLn 16$146K
LiabilitiesLn 26$301K
Net assetsLn 32−$155K
OperationsPt I, VI
EmployeesI 58
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$21K$145K
Land, buildings, equipmentLn 10c$351
Total assetsLn 16$21K$146K
LiabilitiesLn 26$0$301K
Net assetsLn 32$21K−$155K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$33K$33K
Other salaries and wagesLn 7$88K$88K
Payroll taxesLn 10$11K$11K
Accounting feesLn 11c$7K$7K
Office expensesLn 13$5K$5K
OccupancyLn 16$36K$36K
TravelLn 17$274$274
InterestLn 20$550$550
Depreciation, depletion and amortizationLn 22$7K$7K
InsuranceLn 23$108$108
Other expenses (24a–d)Ln 24$10K$8K$2K
All other expensesLn 24e$13K$5K$8K
Total functional expensesLn 25$210K$188K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $346K$378K−$32K−$24K 990 PDF
FY2023 Viewing $210K$210K$25−$155K 990 PDF
FY2022 $195K$72K 990 PDF
FY2021 $131K$113K 990 PDF
FY2020 $178K$98K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $210,269 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $278,234$210,269
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $278,234$210,269
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $107,872$132,015
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $82,779$78,229
I-18 Total expensesPrior year $190,651$210,244
I-19 Revenue less expensesPrior year $87,583$25
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $210,269 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $210,269$210,269
VIII-12 Total revenueRelated to mission $210,269 · Unrelated business $0 · Excluded from tax $0$210,269
Part IX · Statement of functional expenses $210,244 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $33,203$33,203
IX-7 Other salaries and wagesPrograms $87,920$87,920
IX-10 Payroll taxesPrograms $10,892$10,892
IX-11c Accounting feesManagement $7,113$7,113
IX-13 Office expensesManagement $4,552$4,552
IX-16 OccupancyPrograms $36,000$36,000
IX-17 TravelPrograms $274$274
IX-20 InterestPrograms $550$550
IX-22 Depreciation, depletion and amortizationPrograms $6,670$6,670
IX-23 InsurancePrograms $108$108
IX-24 Other expenses (24a–d)Programs $7,656 · Management $2,373$10,029
IX-24e All other expensesPrograms $5,032 · Management $7,901$12,933
IX-25 Total functional expensesPrograms $188,305 · Management $21,939 · Fundraising $0$210,244
Part X · Balance sheet $145,739 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $20,745$145,388
X-10c Land, buildings and equipment, net$351
X-16 Total assetsStart of year $20,745$145,739
X-26 Total liabilitiesStart of year $0$300,550
X-32 Total net assets or fund balancesStart of year $20,745−$154,811
X-33 Total liabilities and net assetsStart of year $20,745$145,739
Part XI · Reconciliation of net assets −$154,811 net assets at year end
XI-1 Total revenue$210,269
XI-2 Total expenses$210,244
XI-3 Revenue less expenses$25
XI-4 Net assets at start of year$20,745
XI-8 Prior period adjustments−$175,581
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$154,811

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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