LIFE READY INC (EIN 822998509) - 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

2017

Legal Domicile

Principal Officer

THOMAS SCOTT

Phone

5025724410

Tax Period

2024-01-01 to 2024-12-31

LIFE READY INC, founded in 2017, is a small nonprofit in the Religion sector that reported $356K in total revenue in fiscal year 2024. Expenses of $335K left a modest 6% surplus.

Mission

LIFE READY INC PROVIDES BIBLICAL COUNSELING FOR MINISTRY LEADERS. WE OFFER CHARITABLE, RELIGIOUS COUNSELING FOR CHRISTIAN PASTORS, MISSIONARIES, ORGANIZATION LEADER AND SEMINARY STUDENTS.

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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 $333,415

Program Service Revenue $22,162

Investment Income $816

Other Revenue $0

TOTAL REVENUE $356,393

Expense Breakdown

Grants Paid $0

Salaries & Benefits $249,633

Fundraising Expenses $37,463

Program Expenses $228,272

Other Expenses $84,999

TOTAL EXPENSES $334,632

Year-over-Year Comparison

	2024	2023	Change
Revenue	$356,393	$331,493	+0.1%
Expenses	$334,632	$350,147	0.0%
Net Income	$21,761	$-18,654	-2.2%

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

N/A

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

$83,871

Total Directors

$83,871

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS SCOTT	EXECUTIVE DI	40.00	Officer Director	$83,871	$0	$83,871
ADAM DENTON	BOARD TREASU	N/A	Officer Director	$0	$0	$0
DAVID DYKES	BOARD MEMBER	N/A	Director	$0	$0	$0
EMILY HAFZITER	BOARD SECRET	N/A	Officer Director	$0	$0	$0
DAVID NAFZIGER	BOARD PRESID	N/A	Officer Director	$0	$0	$0
RICHARD SCOTT	BOARD MEMBER	N/A	Director	$0	$0	$0
PATRICK VOELKER	BOARD MEMBER	N/A	Director	$0	$0	$0

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	$356,393	$334,632	$116,194	$21,761
2024	No data	No data	No data	No data
2023	$331,493	$350,147	$98,328	$-18,654
2022	$236,464	$279,832	$111,999	$-43,368
2021	$297,194	$196,459	$155,175	$100,735

LIFE READY INC