Digital Ready INC FY2022 filing

Tax-deductible

Boston, MA501(c)(3)Since 2020EducationEIN 85-1489119

Digital Ready activates the creative potential of young adults, especially low-income residents, to build tangible pathways to economic opportunities in Boston's innovation economy.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 3
filings with a surplus
Average surplus $316K a year · 18% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $214K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
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
$886K
Spent
$765K
To programs
97%
Net assets
$243K
By yearFY2022–FY2024
Revenue
$886K
FY2022
Revenue by fiscal year
FY2022$886K
FY2023$2.0M
FY2024$2.4M
FY2024$2.9M
Expenses
$765K
FY2022
Expenses by fiscal year
FY2022$765K
FY2023$970K
FY2024$2.6M
FY2024$2.6M
Net assets
$243K
FY2022
Net assets by fiscal year
FY2022$243K
FY2023$1.3M
FY2024$1.1M
FY2024$1.4M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

You’re viewing the FY2022 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 Sep 2020.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $745K Management & general 3% · $20K

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Sarah Cherry Rice’s $175K as Chairman is at the 75th percentile of top reported officer pay among 3395 $1–10M education 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

NameFY2024FY2024
Dr Sarah Cherry Rice$175,000$148,077

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.

See Digital Ready INC executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers young adults with creative skills for economic opportunities in Boston's innovation economy.

Provided by the organization

This section is blank until Digital Ready INC claims this page.

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1 program service account for $745K of program spending, described in the organization's own filed words · FY2021.
01

Stem Access Pathways

Activated the creative potential of young people, especially black and latinx youth, to build tangible pathways to economic opportunities in boston's innovation economy.

$745Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$214K
Grants paid · 2 grants · $1.2M · 2023–2024
Unitemized GrantFY2024$683,375
Unitemized GrantFY2023$477,776

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$886K
Ln 12
Gifts and grantsLn 1h$861K
Fees for servicesLn 2g$25K
Money outPt IX
$765K
Ln 25
Programscol B$745K
Managementcol C$20K
Owns and owesPt X
$243K
net assets · Ln 32
Cash and savingsLn 1–2$193K
Total assetsLn 16$243K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$861K
Government grantsLn 1e$216K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$25K
Total revenueLn 12$886K
Assets in detailPt X, end of year
CashLn 1$193K
Cash and savings togetherLn 1–2$193K
Land, buildings, equipmentLn 10c$50K
Total assetsLn 16$243K
LiabilitiesLn 26$0
Net assetsLn 32$243K
OperationsPt I, VI
EmployeesI 5233
VolunteersI 6150
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$193K
Land, buildings, equipmentLn 10c$50K
Total assetsLn 16$0$243K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$243K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$97K$97K
Payroll taxesLn 10$7K$7K
Accounting feesLn 11c$6K$6K
Lobbying feesLn 11d$0
Other fees for servicesLn 11g$211K$211K$915
Office expensesLn 13$49K$39K$9K
Information technologyLn 14$2K$2K
TravelLn 17$6K$6K
InterestLn 20$200$200
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$383K$383K$0$0
Total functional expensesLn 25$765K$745K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $2.4M$2.6M−$193K$1.1M 990 PDF
FY2023 $2.0M$970K$1.0M$1.3M 990 PDF
FY2022 Viewing $886K$765K$121K$243K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $885,700 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$215,900
VIII-1f All other contributions, gifts and grants$644,900
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$860,800
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $24,900 · Unrelated business $0 · Excluded from tax $0$24,900
VIII-12 Total revenueRelated to mission $24,900 · Unrelated business $0 · Excluded from tax $0$885,700
Part IX · Statement of functional expenses $764,535 across 12 lines filed
IX-7 Other salaries and wagesPrograms $96,891$96,891
IX-10 Payroll taxesPrograms $7,422$7,422
IX-11c Accounting feesManagement $5,923$5,923
IX-11d Lobbying fees$0
IX-11g Other fees for servicesPrograms $210,549 · Management $915$211,464
IX-13 Office expensesPrograms $39,210 · Management $9,325$48,535
IX-14 Information technologyPrograms $2,210$2,210
IX-17 TravelPrograms $5,548$5,548
IX-20 InterestPrograms $200$200
IX-22 Depreciation, depletion and amortizationManagement $2,065$2,065
IX-23 InsuranceManagement $1,474$1,474
IX-24 Other expenses (24a–d)Programs $382,803 · Management $0 · Fundraising $0$382,803
IX-25 Total functional expensesPrograms $744,833 · Management $19,702 · Fundraising $0$764,535
Part X · Balance sheet $243,484 assets, 8 lines filed
X-1 Cash, non-interest-bearing$193,479
X-10c Land, buildings and equipment, net$50,005
X-16 Total assetsStart of year $0$243,484
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $0$243,484
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $0$243,484
X-33 Total liabilities and net assetsStart of year $0$243,484
Part XI · Reconciliation of net assets $243,484 net assets at year end
XI-1 Total revenue$885,700
XI-2 Total expenses$764,535
XI-3 Revenue less expenses$121,165
XI-4 Net assets at start of year$0
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$122,319
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$243,484

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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