Ready for Good Co

Nonprofit profile at a glance

EIN
873356507
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Lawrence, KS, USA
Phone
7858560651
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Services N.E.C.

Official website

Reported finances

Revenue
$800,814
Expenses
$758,936
Assets
$181,636
Liabilities
$47,938

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

Leadership & pay

6 people listed

Executive titles in this filing

  • ADDISON SHOCKLEY (PRESIDENT & CEO)

Highest reported compensation

  • ADDISON SHOCKLEY (PRESIDENT & CEO): $42,145 total reported compensation

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

Overview

Mission

To provide job readiness and life skills training, supportive employment, spiritual formation opportunities, and mentorship to youth in foster care, the juvenile justice system, and youth who have aged out of those systems.

What it reported doing in 2024

The "furniture for good" program provides supportive employment, job readiness training, life skills workshops, informal mentorship, and spiritual formation opportunities to at-risk youth involved in the foster care and juvenile justice systems, aged 14-17, as well as youth aged 18-26 who have aged out of those systems.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.9%; rating input score 89
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: $75.04 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.2%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 38.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 36.2% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 70% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 88.9% of revenue deployed · 93.8% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $712K in reported program spending
  • Leadership: top reported pay $42K · 6 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.