Project Ready

Analysis

Project Ready is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Project Ready reported income of $3.1m and spending of $2.5m, spending 81% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $2.7m to $3.1m (+15%), an average of +15% a year. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Project Ready sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within NJ. Charities of a similar size with the same main cause include Monarch Montessori of Denver First Steps ($3.1m), Florida High School for Accelerated Learning-North Lee Campus Inc ($3.1m) and Campus Compact ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $545k (22% of expenses). Other salaries and wages came to $438k. At year end it held assets of $1.1m against liabilities of $71k, net assets of $1.1m. It reported 54 employees.