READY FOR LIFE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

KATHY MIZE

Phone

7279543989

Tax Period

2024-07-01 to 2025-06-30

READY FOR LIFE INC, founded in 2009, is a community nonprofit in the Human Services sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $1.6M exceeded revenue, resulting in a 26% operating deficit.

Mission

CHANGING LIVES BEYOND FOSTER CARE - READY FOR LIFE WORKS WITH YOUTH IN FOSTER CARE AS THEY PREPARE TO TRANSITION OUT OF THE SYSTEM TO BEING ON THEIR OWN. THE SUPPORT AND SERVICES EXTEND UNTIL THE YOUNG ADULTS TURN 28 YEARS OF AGE.

Program Service Accomplishments

Program 1

Expenses: $1,349,622

YOUTH SUPPORT: TO ENGAGE FOSTER CARE YOUTH, PRIVATE CITIZENS AND PUBLIC RESOURCES TO ASSIST PINELLAS COUNTY FOSTER CARE YOUTH IN SUCCESSFUL TRANSITIONS TO ADULTHOOD. THE ORGANIZATION'S GOAL IS TO BE A LINK BETWEEN THE YOUTH AND THE MANY RESOURCES AVAILABLE TO ASSIST THEM AS WELL AS GIVE THE YOUTH THE VOICE TO HELP CREATE AND RUN THE ORGANIZATION'S MANY PROGRAMS. THE ORGANIZATION CONTINUES TO ADVANCE THEIR EXPANDED SERVICES TO ENCOMPASS THE ENTIRETY OF CIRCUIT 6, SIGNIFICANTLY BROADENING THEIR REACH TO VULNERABLE FORMER FOSTER YOUTH IN PASCO COUNTY. THROUGH STRATEGIC PARTNERSHIPS WITH THE LEAD AGENCY FOR FOSTER CARE, CDC, OTHER NONPROFITS SERVING THE AREA, AND KEY FUNDERS, CONDUCTED COMPREHENSIVE NEEDS MAPPING FOR FORMER FOSTER YOUTH IN PASCO COUNTY TO ENSURE TARGETED, EVIDENCE-BASED SERVICE DELIVERY. THEIR PROACTIVE OUTREACH TO GROUP HOMES ESTABLISHES CRITICAL CONNECTIONS WITH YOUTH APPROACHING AGE 18, ENSURING SEAMLESS TRANSITION INTO THE READY FOR LIFE PROGRAM BEFORE THEY EXIT THE FOSTER CARE SYSTEM. THIS PREVENTIVE APPROACH ADDRESSES THE URGENT NEED FOR CONTINUITY OF SUPPORT DURING THIS VULNERABLE TRANSITION PERIOD. POST-18 CRISIS INTERVENTION AND LIFE SKILLS SUPPORT REMAIN CENTRAL TO THE ORGANIZATION'S MISSION, ADDRESSING FUNDAMENTAL BARRIERS INCLUDING TRANSPORTATION, FOOD INSECURITY, HOUSING INSTABILITY, EDUCATIONAL GAPS, AND EMPLOYMENT CHALLENGES. THIS EXPANDED GEOGRAPHIC SCOPE ALLOWS THE ORGANIZATION TO SERVE A LARGER POPULATION OF AT-RISK YOUTH WHILE MAINTAINING THEIR COMMITMENT TO COMPREHENSIVE WRAPAROUND SERVICES THAT PROMOTE LONG-TERM STABILITY AND SELF-SUFFICIENCY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,399,047

Program Service Revenue $0

Investment Income $12,400

Other Revenue $-136,820

TOTAL REVENUE $1,274,627

Expense Breakdown

Grants Paid $0

Salaries & Benefits $722,487

Fundraising Expenses $71,998

Program Expenses $1,349,622

Other Expenses $877,334

TOTAL EXPENSES $1,599,821

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,274,627	$1,067,002	+0.2%
Expenses	$1,599,821	$1,189,621	+0.3%
Net Income	$-325,194	$-122,619	+1.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

129

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$113,799

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY PAT MCLAIN	CHAIRMAN	3.00	Officer Director	$0	$0	$0
PHARES N RISSER III	VICE-CHAIRMAN	2.00	Officer Director	$0	$0	$0
CRYSTAL MOORE	SECRETARY	2.00	Officer Director	$0	$0	$0
YVETTE BEAN	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH BEATTIE	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT CLENDENING	DIRECTOR	1.00	Director	$0	$0	$0
BEN COUGHANOUR	DIRECTOR	1.00	Director	$0	$0	$0
KAY DILLINGER	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER DITTMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS KLINE	DIRECTOR	1.00	Director	$0	$0	$0
DR SARAH SHEFFIELD-MARCHAND	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER J MCCABE	DIRECTOR	1.00	Director	$0	$0	$0
SALLY MCLANE	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
KATHY MIZE	CEO	40.00	Officer	$113,799	$0	$113,799

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,274,627	$1,599,821	$601,081	$-325,194
2024	$1,067,002	$1,189,621	$660,455	$-122,619
2023	$1,245,880	$1,046,243	$836,219	$199,637
2022	$1,074,608	$962,287	$401,515	$112,321
2021	$928,028	$958,378	$388,690	$-30,350
2020	$820,757	$765,337	$409,686	$55,420
2019	$905,134	$821,495	$279,731	$83,639
2018	$567,085	$643,874	$210,465	$-76,789