Be Ready Inc

Nonprofit profile at a glance

EIN
880627862
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9739439740
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Alliance/Advocacy

Reported finances

Revenue
$1,261
Expenses
$83,828
Assets
$103,454
Liabilities
$41,300

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

Leadership & pay

9 people listed

Executive titles in this filing

  • SHENNELL MCCLOUD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHENNELL MCCLOUD (EXECUTIVE DIRECTOR): $277,299 total reported compensation
  • KARIN GERALD (TREASURER/COO): $89,857 total reported compensation

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

Overview

Mission

Be ready invests in black women to prepare them to be civically engaged, run for office, win seats of power, disrupt inequitable systems, and impact policies affecting black and brown communities.

What it reported doing in 2024

National storytelling & civic engagement: project ready, in partnership with be ready, supported the national film tour for dear america, a letter from black women, hosting screenings and discussions across multiple cities to elevate civic awareness and participation. The initiative was further amplified through national media, including an iheartradio podcast feature with ceo shennell mccloud.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 66
  • Accountability: 73
  • Sustainability: 11
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 77.8%; rating input score 78; 24th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6,547.7%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 70.5%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -67.9% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -104.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -48.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 9 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $277K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.