Civic Intelligence

Be Ready Inc

990 • Fiscal year 2022 • EIN 88-0627862

Jan 20, 2022 to Jun 30, 2022 • Filed on Mar 28, 2023

70 Clinton Avenue 2nd FloorNewark, NJ 07114

(973) 943-9740

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.26x

Higher debt load relative to assets than 77% of similar nonprofits.

2022 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

70th percentile

0.23x

Higher debt load relative to revenue than 70% of similar nonprofits.

2022 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2022

Net Margin

94th percentile

67%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

90th percentile

$100,217

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 20.0% of source-year revenue.

2022 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Assets

$450,312

No earlier filing loaded for comparison.

Net Assets

$333,240

No earlier filing loaded for comparison.

Liabilities

$117,072

No earlier filing loaded for comparison.

Revenue

$500,429

No earlier filing loaded for comparison.

Expenses

$167,189

No earlier filing loaded for comparison.

Net Income

$333,240

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2022: $450,312Liabilities 2022: $117,072Net Assets 2022: $333,2402022Assets 2023: $202,086Liabilities 2023: $50,454Net Assets 2023: $151,6322023Assets 2024: $151,204Liabilities 2024: $6,483Net Assets 2024: $144,7212024

Highlighted filing

2022

Assets$450,312
Liabilities$117,072
Net Assets$333,240

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2022: $500,429Expenses 2022: $167,189Net Income 2022: $333,2402022Revenue 2023: $1,440Expenses 2023: $183,048Net Income 2023: -$181,6082023Revenue 2024: $51,681Expenses 2024: $58,592Net Income 2024: -$6,9112024

Highlighted filing

2022

Revenue$500,429
Expenses$167,189
Net Income$333,240
Jump To
Filing Snapshot
Filing Period
Jan 20, 2022 to Jun 30, 2022
Signed
Mar 28, 2023
Return Version
2021v4.2
Gross Receipts
$500,429
Mission and Program Overview

Mission

Be ready invests in black women to prepare them to be civically engaged, run for office, win seats of power, disrupt inequitable systems, and impact policies affecting black and brown communities.

Be ready endeavors to create a world with equitable representation of black women in positions of power and influence across the nation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$0$450,312▲ $450,312
Rtn Earn Endowment Incm Other Fnds$0$333,240▲ $333,240
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$450,312▲ $450,312
Liabilities
Other Liabilities$0$109,088▲ $109,088
Accounts Payable and Accrued Expenses$0$7,984▲ $7,984
Total Liabilities$0$117,072▲ $117,072
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$333,240▲ $333,240
Total Liabilities and Net Assets / Fund Balance$0$450,312▲ $450,312
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Shennell MccloudExecutive DirectorPT$100,217$100,217
Nayibe CapellanChief of StaffPT$68,582$68,582
Karin GeraldTreasurer/COOPT$63,884$63,884

Board Members and Trustees

NameTitle
Jazz Clayton-huntChair
Lisa PowellBoard Trustee
Nicole HarrisBoard Trustee
Tai CooperBoard Trustee
Danielle West-augustinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$500,100
Program Service Revenue
$0
Investment Income
$329
Other Revenue
$0
All Other Contributions
$500,100
Change in Net Assets
$333,240

Audited Revenue Reconciliation

Revenue per Audited Statements
$500,429
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$500,429
Total Revenue per Form 990
$500,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$88,721
Other Expenses$78,468
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$88,721-$88,721
Fees for Services Other$25,350$13,499-$38,849
Travel$13,800$3,302-$17,102
Fees for Services Legal-$12,600-$12,600
Office Expenses$418$6,135-$6,553
Other Expenses$1,466$629-$2,095
Fees for Services Accounting-$1,120-$1,120
Advertising$75$74-$149
Total Functional Expenses$41,109$126,080$0$167,189

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$167,189
Total Expenses per Audited Statements$167,189
Total Expenses per Form 990$167,189
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Project Ready$109,088
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The executive director will review a draft of the 990 and provide any feedback and necessary changes to the chief operating officer. Any necessary changes will then be updated on the form. Once all necessary changes are made and the executive director is okay with final review, it will be signed by the executive director, dated and submitted by the filing deadline. A copy of the approved form 990 will be provided to all of the trustees before the return is filed.

Form 990, Part VI, Section B, Line 12C

The organization require that each trustee, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: 1. Has received a copy of the policy; 2. Has read and understands the policy; 3. Has agreed to comply with the policy; and 4. Understands the corporation is tax-exempt and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, financial statements and form 990 are available to the public upon request. Form 990 is also available at: 1) www.guidestar.org and 2) https://apps.irs.gov/app/eos/

Filing and Contact Details

Filer

Filer Name
Be Ready Inc
EIN
88-0627862
Phone
9739439740
Address
70 CLINTON AVENUE 2ND FLOOR, NEWARK, NJ 07114

Signing Officer

Name
Shennell Mccloud
Title
Executive Director
Phone
9739439740
Signed
2023-03-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shennell Mccloud
Formed
2022
Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Wiss & Company Llp
Address
100 CAMPUS DRIVE, FLORHAM PARK, NJ 07932
Preparer
Diana Miller
Phone
9739949400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting: program service expenses 25,350. Management and general expenses 13,499. Fundraising expenses 0. Total expenses 38,849.

FORM 990, PART XII, LINE 2C:

The organization has a committee that assumes responsibility for oversight of the audit of its financial statements.

Financial Statement Notes

PART X, LINE 2:

The organization is a not-for-profit corporation and is exempt from federal income tax under section 501(c)(4) of the internal revenue code ("irc") and, therefore, has made no provision for federal or new jersey state income taxes in the accompanying financial statements. All significant tax positions have been considered by management and it has been determined that all tax positions would be sustained upon examination by taxing authorities. The organization is required to file form 990 (return of organization exempt from income tax), which is subject to examination by the irs, up to three years from the extended due date of the tax return. As the organization is in its first year of operations, no forms 990 have been filed for 2019 through 2021. As a not-for-profit entity, the organization is subject to unrelated business income tax ("ubit"), if applicable. Management has determined that the organization had no activities subject to ubit in the period ended june 30, 2022.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE ("IRC") AND, THEREFORE, HAS MADE NO PROVISION FOR FEDERAL OR NEW JERSEY STATE INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS BEEN DETERMINED THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION IS REQUIRED TO FILE FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX), WHICH IS SUBJECT TO EXAMINATION BY THE IRS, UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF THE TAX RETURN. AS THE ORGANIZATION IS IN ITS FIRST YEAR OF OPERATIONS, NO FORMS 990 HAVE BEEN FILED FOR 2019 THROUGH 2021. AS A NOT-FOR-PROFIT ENTITY, THE ORGANIZATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO ACTIVITIES SUBJECT TO UBIT IN THE PERIOD ENDED JUNE 30, 2022.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR WILL REVIEW A DRAFT OF THE 990 AND PROVIDE ANY FEEDBACK AND NECESSARY CHANGES TO THE CHIEF OPERATING OFFICER. ANY NECESSARY CHANGES WILL THEN BE UPDATED ON THE FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE EXECUTIVE DIRECTOR IS OKAY WITH FINAL REVIEW, IT WILL BE SIGNED BY THE EXECUTIVE DIRECTOR, DATED AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE TRUSTEES BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRE THAT EACH TRUSTEE, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: 1. HAS RECEIVED A COPY OF THE POLICY; 2. HAS READ AND UNDERSTANDS THE POLICY; 3. HAS AGREED TO COMPLY WITH THE POLICY; AND 4. UNDERSTANDS THE CORPORATION IS TAX-EXEMPT AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 IS ALSO AVAILABLE AT: 1) WWW.GUIDESTAR.ORG AND 2) HTTPS://APPS.IRS.GOV/APP/EOS/
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING: PROGRAM SERVICE EXPENSES 25,350. MANAGEMENT AND GENERAL EXPENSES 13,499. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,849.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PROJECT READY A NJ NONPROFIT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0861236556
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt070 CLINTON AVENUE 2ND FLOOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEWARK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd007114
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0109088
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0PROJECT READY A NJ NONPROFIT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0450312
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0450312
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0500100
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0126080
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt041109
IRS990/TotalFunctionalExpensesGrp/TotalAmt0167189
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0117072
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0117072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0333240
IRS990/TotalOtherCompensationAmt018950
IRS990/TotalProgramServiceExpensesAmt041109
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0329
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0500429
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0450312
IRS990/TotReportableCompRltdOrgAmt0213733
IRS990/TravelGrp/ManagementAndGeneralAmt03302
IRS990/TravelGrp/ProgramServicesAmt013800
IRS990/TravelGrp/TotalAmt017102
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt070 CLINTON AVENUE 2ND FLOOR
IRS990/USAddress/CityNm0NEWARK
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007114
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHENNELL MCCLOUD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09739439740
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BE READY INC
ReturnHeader/Filer/BusinessNameControlTxt0BERE
ReturnHeader/Filer/EIN0880627862
ReturnHeader/Filer/PhoneNum09739439740
ReturnHeader/Filer/USAddress/AddressLine1Txt070 CLINTON AVENUE 2ND FLOOR
ReturnHeader/Filer/USAddress/CityNm0NEWARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007114
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0221732349
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WISS & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CAMPUS DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FLORHAM PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007932
ReturnHeader/PreparerPersonGrp/PhoneNum09739949400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANA MILLER
ReturnHeader/ReturnTs02023-03-31T13:06:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SHENNELL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCCLOUD
ReturnHeader/TaxPeriodBeginDt02022-01-20
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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