Lets Get Ready Inc
- Assets
- $3.8m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 141
- Location
- New York, NY
- Founding
- 05/2000
- Data as of
- 08/2023
- EIN
- 31-1698832
Organization Overview
Lets Get Ready Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 08/2023, Lets Get Ready Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lets Get Ready Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Lets Get Ready Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $3.5m during the year ending 08/2023. While expenses have increased by 1.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LET'S GET READY INC. PROVIDES HIGH SCHOOL STUDENTS FROM LOW INCOME BACKGROUNDS WITH FREE SAT PREPARATION, ADMISSIONS COUNSELING, AND OTHER SUPPORT SERVICES NEEDED TO GAIN ADMISSION TO AND GRADUATE FROM COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
18,590 STUDENTS WERE ENROLLED IN LET'S GET READY THIS YEAR THROUGH THE ACCESS, TRANSITION, AND SUCCESS PROGRAMS WHICH ALL EMPLOY A VIRTUAL NEAR-PEER COACHING MODEL. IN OUR ACCESS PROGRAM WE PROVIDE INTENSIVE SAT PREPARATION AND AN INTRODUCTION TO ALL ASPECTS OF THE COLLEGE ADMISSIONS PROCESS. THROUGH OUR TRANSITION PROGRAM WE SUPPORT COLLEGE ENROLLMENT THROUGH VIRTUAL COACHING ON TOPICS INCLUDING COLLEGE SELECTION, CAMPUS VISITS, APPLICATIONS, PERSONAL STATEMENT, AND FINANCIAL AID OPPORTUNITIES. THROUGH OUR SUCCESS PROGRAM WE SUPPORT STUDENTS IN NAVIGATING THE COMPLEXITIES OF COLLEGE LIFE THROUGH COACHING ON SOCIAL, FINANCIAL AND ACADEMIC SUPPORT. SERVICES WERE PROVIDED BY OVER 90 COLLEGE STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brook Payner Chair | OfficerTrustee | 10 | $0 |
Gary Matthews Vice Chair Thru 6/2023 | OfficerTrustee | 10 | $0 |
Laurent Desmangles Secretary | OfficerTrustee | 10 | $0 |
Ryan Blackwell Director | Trustee | 5 | $0 |
Peter Cole Director | Trustee | 5 | $0 |
Jung Chai Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $185,745 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,975,023 |
| Noncash contributions included in lines 1a–1f | $198,984 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,160,768 |
| Total Program Service Revenue | $242,367 |
| Investment income | $36,603 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $574 |
| Net Income from Fundraising Events | -$157,689 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,282,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,362 |
| Compensation of current officers, directors, key employees. | $76,077 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,149,016 |
| Pension plan accruals and contributions | $41,938 |
| Other employee benefits | $169,700 |
| Payroll taxes | $203,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,927 |
| Fees for services: Accounting | $72,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $8,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $171,308 |
| Advertising and promotion | $17,176 |
| Office expenses | $74,202 |
| Information technology | $126,782 |
| Royalties | $0 |
| Occupancy | $34,703 |
| Travel | $64,653 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,712 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,241 |
| Insurance | $12,268 |
| All other expenses | $0 |
| Total functional expenses | $3,457,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $373,124 |
| Savings and temporary cash investments | $557,368 |
| Pledges and grants receivable | $1,094,284 |
| Accounts receivable, net | $37,710 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $71,766 |
| Net Land, buildings, and equipment | $26,909 |
| Investments—publicly traded securities | $1,642,498 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,517 |
| Total assets | $3,810,176 |
| Accounts payable and accrued expenses | $89,028 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $89,028 |
| Net assets without donor restrictions | $2,590,324 |
| Net assets with donor restrictions | $1,130,824 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,810,176 |