Readyone Industries INC

Tax-deductible

El Paso, TX501(c)(3)Since 1989EmploymentEIN 74-2544266

Readyone industries is committed to providing a competitively integrated (continued on schedule o) employment environment offering opportunities for those of all abilities, ethnicities and orientations to ensure a diverse and inclusive workforce while supporting opportunities for self-determination and success in both personal and professional settings for those with disabilities.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$1.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.3M a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
to officers and key staff · 2% of spending
Top officer’s pay higher than 64% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $419K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29.5M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65.4M
+40% vs prior year
Spent
$61.0M
To programs
98%
Net assets
$54.7M
By yearFY2020–FY2024
Revenue
$65.4M
FY2024▲ +40%
Revenue by fiscal year
FY2020$102.6M
FY2021$73.6M
FY2022$47.6M
FY2023$46.9M
FY2024$65.4M
Expenses
$61.0M
FY2024▲ +26%
Expenses by fiscal year
FY2020$103.1M
FY2021$79.8M
FY2022$50.0M
FY2023$48.5M
FY2024$61.0M
Net assets
$54.7M
FY2024▲ +9%
Net assets by fiscal year
FY2020$60.7M
FY2021$54.4M
FY2022$51.9M
FY2023$50.3M
FY2024$54.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1990.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $59.6M Management & general 2% · $1.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

14 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/COO
$281,198Pt VII · Sec A
Chief Financial Officer
$176,272Pt VII · Sec A
Vice President of Business Development
$163,884Pt VII · Sec A
Former - General Manager Garment
$143,077Pt VII · Sec A
HR Director
$118,211Pt VII · Sec A
Assistant Director of Financial Planning
$115,416Pt VII · Sec A
Director of Contracts Admi
$107,879Pt VII · Sec A
Chairman, Director
$49,940Pt VII · Sec A

Wesley Wellons’s $281K as President/COO is at the 64th percentile of top reported officer pay among 414 $10–100M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Luis Alvarez———$144,375$449,625
Wesley Wellons$281,198$256,465$260,000$230,385$197,308
Maria G Soto$176,272$173,795$201,250$150,481$103,846
Mark Short$163,884$163,594$158,654——
Geronimo Medina$143,077$152,692$140,000$145,385$145,385
Loretta Hemsworth—$138,167$129,600$129,600$134,585
Loretta Enriquez——$120,000$115,865—
Macrina Rivera$118,211————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides integrated employment opportunities for people with disabilities, fostering self-determination and success.

Provided by the organization

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1 program service account for $59.6M of program spending, described in the organization's own filed words · FY2024.
01

To provide employment to individuals with significant disabilities in an environment that inspires and nurtures self determination and success. Employing 304 severely disabled individuals at december 31, 2024.

$59.6Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
SourceamericaFY2024$419K
Total grants receivedfrom 1 funder$419K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$65.4M
Ln 12
Gifts and grantsLn 1h$59.2M
Investment incomeLn 3$4.4M
Fees for servicesLn 2g$1.5M
Money outPt IX
$61.0M
Ln 25
Programscol B$59.6M
Managementcol C$1.4M
Owns and owesPt X
$54.7M
net assets · Ln 32
Cash and savingsLn 1–2$12.7M
Total assetsLn 16$84.2M
LiabilitiesLn 26$29.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A14
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59.2M
Government grantsLn 1e$59.2M
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$4.4M
Other incomeLn 4–11$316K
Gains on assetsLn 7$3.6M
Total revenueLn 12$65.4M
Assets in detailPt X, end of year
CashLn 1$12.7M
Cash and savings togetherLn 1–2$12.7M
InvestmentsLn 11–13$4.0M
Land, buildings, equipmentLn 10c$11.3M
Other assetsLn 15$41K
Total assetsLn 16$84.2M
LiabilitiesLn 26$29.5M
Net assetsLn 32$54.7M
OperationsPt I, VI
EmployeesI 5817
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$10.2M$12.7M
InvestmentsLn 11–13$4.0M$4.0M
Land, buildings, equipmentLn 10c$12.9M$11.3M
Total assetsLn 16$69.2M$84.2M
LiabilitiesLn 26$18.9M$29.5M
Net assetsLn 32$50.3M$54.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.6M$1.3M$269K
Other salaries and wagesLn 7$11.5M$11.3M$226K
Pension plan contributionsLn 8$94K$92K$2K
Other employee benefitsLn 9$824K$824K
Payroll taxesLn 10$1.1M$1.1M$23K
Legal feesLn 11b$85K$85K
Accounting feesLn 11c$83K$83K
Other fees for servicesLn 11g$479K$479K
Office expensesLn 13$401K$401K
Information technologyLn 14$468K$468K
OccupancyLn 16$529K$529K
TravelLn 17$103K$103K
Conferences, conventions and meetingsLn 19$250$250
Depreciation, depletion and amortizationLn 22$1.1M$1.1M
InsuranceLn 23$408K$220K$188K
Other expenses (24a–d)Ln 24$42.3M$42.3M
All other expensesLn 24e$21K$1K$20K
Total functional expensesLn 25$61.0M$59.6M$1.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $65.4M$61.0M$4.4M$54.7M 990 PDF
FY2023 $46.9M$48.5M−$1.7M$50.3M 990 PDF
FY2022 $47.6M$50.0M−$2.5M$51.9M 990 PDF
FY2021 $73.6M$79.8M−$6.3M$54.4M 990 PDF
FY2020 $102.6M$103.1M−$458K$60.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $65,442,321 across 8 lines filed
VIII-1e Government grants$59,205,925
VIII-1h Total contributions, gifts and grants$59,205,925
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,512,277$1,512,277
VIII-3 Investment incomeExcluded from tax $848,385$848,385
VIII-6 Net rental income or lossExcluded from tax $20,485$20,485
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,559,269$3,559,269
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $295,980$295,980
VIII-12 Total revenueRelated to mission $5,071,546 · Unrelated business $0 · Excluded from tax $1,164,850$65,442,321
Part IX · Statement of functional expenses $61,001,544 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,287,807 · Management $268,868$1,556,675
IX-7 Other salaries and wagesPrograms $11,257,468 · Management $226,020$11,483,488
IX-8 Pension plan contributionsPrograms $91,921 · Management $1,594$93,515
IX-9 Other employee benefitsPrograms $824,181$824,181
IX-10 Payroll taxesPrograms $1,071,766 · Management $22,887$1,094,653
IX-11b Legal feesManagement $85,368$85,368
IX-11c Accounting feesManagement $82,756$82,756
IX-11g Other fees for servicesManagement $479,408$479,408
IX-13 Office expensesPrograms $400,943$400,943
IX-14 Information technologyPrograms $468,106$468,106
IX-16 OccupancyPrograms $528,700$528,700
IX-17 TravelPrograms $102,810$102,810
IX-19 Conferences, conventions and meetingsPrograms $250$250
IX-22 Depreciation, depletion and amortizationPrograms $1,084,283$1,084,283
IX-23 InsurancePrograms $220,005 · Management $188,401$408,406
IX-24 Other expenses (24a–d)Programs $42,286,518$42,286,518
IX-24e All other expensesPrograms $1,052 · Management $20,432$21,484
IX-25 Total functional expensesPrograms $59,625,810 · Management $1,375,734 · Fundraising $0$61,001,544
Part X · Balance sheet $84,173,812 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $10,241,383$12,657,129
X-3 Pledges and grants receivable$392,400
X-4 Accounts receivableStart of year $20,435,108$23,805,346
X-8 Inventories for sale or useStart of year $21,185,991$31,605,724
X-9 Prepaid expenses and deferred chargesStart of year $338,189$358,846
X-10c Land, buildings and equipment, netStart of year $12,905,097$11,313,230
X-12 Other securitiesStart of year $4,000,000$4,000,000
X-15 Other assetsStart of year $70,585$41,137
X-16 Total assetsStart of year $69,176,353$84,173,812
X-17 Accounts payable and accrued expensesStart of year $8,292,743$9,534,295
X-19 Deferred revenueStart of year $10,545,393$19,895,736
X-24 Unsecured notes and loans payableStart of year $5,264$0
X-25 Other liabilitiesStart of year $69,084$39,135
X-26 Total liabilitiesStart of year $18,912,484$29,469,166
X-27 Net assets without donor restrictionsStart of year $50,263,869$54,704,646
X-32 Total net assets or fund balancesStart of year $50,263,869$54,704,646
X-33 Total liabilities and net assetsStart of year $69,176,353$84,173,812
Part XI · Reconciliation of net assets $54,704,646 net assets at year end
XI-1 Total revenue$65,442,321
XI-2 Total expenses$61,001,544
XI-3 Revenue less expenses$4,440,777
XI-4 Net assets at start of year$50,263,869
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$54,704,646

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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