Readyone Industries Inc

Nonprofit profile at a glance

EIN
742544266
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
El Paso, TX, USA
Phone
9158587277
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational Rehabilitation

Official website

Reported finances

Revenue
$65,442,321
Expenses
$61,001,544
Assets
$84,173,812
Liabilities
$29,469,166

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

Leadership & pay

14 people listed

Executive titles in this filing

  • WESLEY WELLONS (PRESIDENT/COO)
  • MARK SHORT (VICE PRESIDENT OF BUSINESS DEVELOPMENT)

Highest reported compensation

  • WESLEY WELLONS (PRESIDENT/COO): $304,192 total reported compensation
  • MARIA G SOTO (CHIEF FINANCIAL OFFICER): $197,695 total reported compensation
  • MARK SHORT (VICE PRESIDENT OF BUSINESS DEVELOPMENT): $170,467 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 manufacture and deliver innovative and high-quality garments for the u.s. Military while employing and empowering a disabled workforce in a competitively integrated employment environment.

What it reported doing in 2024

To provide employment to individuals with significant disabilities in an environment that inspires and nurtures self determination and success. Employing 304 severely disabled individuals at december 31, 2024.

Operating model

Revenue model
Grant-funded. 96% of the money available for current operations came from government grants.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 56
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.4%; rating input score 96
  • Program expense ratio: 97.7%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.8%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: -4.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -3.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 96.4% of revenue deployed · 97.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $59.6M in reported program spending
  • Leadership: top reported pay $304K · 14 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $749K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.