LET'S GET READY INC (EIN 311698832) - Form 990 Financial Analysis & Trantor Score

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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

1999

Legal Domicile

Principal Officer

LENA EBERHART

Phone

6468082760

Tax Period

2023-09-01 to 2024-08-31

LET'S GET READY INC, founded in 1999, is a community nonprofit in the Education sector that reported $3.5M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $4.2M exceeded revenue, resulting in a 20% operating deficit.

Mission

LET'S GET READY PROVIDES HIGH SCHOOL STUDENTS FROM UNDERREPRESENTED COMMUNITIES WITH FREE SAT PREPARATION, ADMISSIONS COUNSELING AND OTHER SUPPORT SERVICES NEEDED TO GAIN ADMISSION TO COLLEGE. ONCE THEY ARE IN COLLEGE, SERVICES ARE PROVIDED TO SUPPORT THEIR COLLEGE JOURNEY AND GRADUATE. SERVICES ARE PROVIDED BY COLLEGE STUDENTS WHO ALSO SERVE AS ROLE MODELS AND MENTORS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,843,072

Program Service Revenue $580,332

Investment Income $97,797

Other Revenue $0

TOTAL REVENUE $3,521,201

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,365,634

Fundraising Expenses $595,683

Program Expenses $3,004,305

Other Expenses $827,709

TOTAL EXPENSES $4,217,343

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,521,201	$4,282,623	-0.2%
Expenses	$4,217,343	$3,457,828	+0.2%
Net Income	$-696,142	$824,795	-1.8%

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

136

Volunteers

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

$225,423

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BROOK PAYNER	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
LAURENT DESMANGLES	BOARD VICE-CHAIR	2.00	Officer Director	$0	$0	$0
JOANNE JENSEN	TREASURER	2.00	Officer Director	$0	$0	$0
ADRIAN MEBANE	SECRETARY	2.00	Officer Director	$0	$0	$0
JUNG CHAI	DIRECTOR	2.00	Director	$0	$0	$0
PORTIA GREEN	DIRECTOR	2.00	Director	$0	$0	$0
RYAN BLACKWELL	DIRECTOR	2.00	Director	$0	$0	$0
PETER COLE	DIRECTOR	2.00	Director	$0	$0	$0
KATE LEVIN	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN MAY	DIRECTOR	2.00	Director	$0	$0	$0
PATRICIA MCWADE	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY A JACOBS	DIRECTOR - THRU JUNE 2024	2.00	Director	$0	$0	$0
PRISCILLA NATKINS	DIRECTOR	2.00	Director	$0	$0	$0
JAMES QUINN	DIRECTOR	2.00	Director	$0	$0	$0
EUGENIE LANG ROSENTHAL FOUNDER	DIRECTOR	2.00	Director	$0	$0	$0
KATE RUBENSTEIN	DIRECTOR	2.00	Director	$0	$0	$0
ALAN SCHOENFELD	DIRECTOR	2.00	Director	$0	$0	$0
BEN TAGOE	DIRECTOR	2.00	Director	$0	$0	$0
MARK FUKUNAGA	DIRECTOR	2.00	Director	$0	$0	$0
NEIL HALL	DIRECTOR	2.00	Director	$0	$0	$0
LENA EBERHART	CHIEF EXECUTIVE OFFICER	40.00	Officer	$204,376	$21,047	$225,423
SEAN FISCHER	SENIOR DIRECTOR OF DATA & EVALUATION	40.00	Highest	$107,494	$14,766	$122,260
GRACE BIANCIARDI	CHIEF PROGRAMS OFFICER	40.00	Highest	$156,418	$2,594	$159,012
JULIAN THOMPSON	MANAGING DIRECTOR, PEOPLE &OPERATION	40.00	Highest	$134,896	$10,754	$145,650
MARVIN KELLY VILMA	MANAGING DIRECTOR OF DEVELOPMENT	40.00	Highest	$123,969	$11,756	$135,725
DENNIS MAURICE DUMPSON	CHIEF EXTERNAL AFFAIRS OFFICER	40.00	Highest	$177,828	$15,185	$193,013

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
2024	$3,521,201	$4,217,343	$3,138,215	$-696,142
2023	$4,282,623	$3,457,828	$3,810,176	$824,795
2022	$3,738,443	$2,988,462	$3,115,570	$749,981
2021	$3,876,606	$2,685,258	$3,033,033	$1,191,348
2020	$2,728,106	$2,668,305	$1,899,061	$59,801
2019	$3,433,136	$3,899,479	$1,403,468	$-466,343
2018	$3,541,624	$3,969,897	$1,845,021	$-428,273
2018	$3,541,624	$3,969,897	$1,845,021	$-428,273
2018	$3,541,624	$3,974,906	$1,840,012	$-433,282

LET'S GET READY INC