LIFE READY INC

EIN: 822998509 501(c)(3) Religion

LOUISVILLE, KY

Total Revenue
$356,393
Total Expenses
$334,632
Total Assets
$116,194
Net Assets
$114,514
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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
KY
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.

Program Service Accomplishments

Program 1
Expenses: $228,272

COUNSELING SERVICES PROVIDED FOR THOSE IN CHRISTIAN VOCATIONAL MINISTRY (EXAMPLES INCLUDE PASTORS, MISSIONARIES, SEMINARY STUDENT)

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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%)

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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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
5
Employees
6
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
4
$83,871
Total Directors
7
$83,871
Key Employees
0
$0
Highest Compensated
0
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
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