Project Ready
Donations deductibleRevenue
$68k
year to 30 June 2026
Expenses
$533k
year to 30 June 2026
Total assets
$34k
$4k liabilities
Net assets
$30k
assets less liabilities
Directors and trustees
7
4.4 years on average
Staff
2
employees, year to 30 June 2026
Chair observed
≥2 yrs
Patrick Terborg
Left since last filing
0
no seats appear to have opened
Project Ready's network
7 people9 organisationsi7 people and 9 organisations on this map.The large node is the subject of this page. Solid lines are what the register itself records (7). Violet dotted lines (9) are likely: the same full name sits on the current board of another organisation in the same register and region. Form 990 filings give names without a person identifier; SEC insider filings carry a CIK. It may be a different person.The board
7 listediTime on the board is observed from the annual filings: the IRS files no appointment date, so the bar counts years from the first filing the person appears on - a lower bound, not a filed start date. Names are exactly as filed. The IRS publishes no person identifier, so this edition does not yet link a person across organisations in the tables. The network map shows same-name matches as likely links only, never as confirmed.Time served and departures are observed across annual filings. Observed time served is a lower bound - a member may have joined before the first year on record. The organisation reported 4 voting members of its governing body on its latest Form 990 Part VI; we list 7 in Part VII (Part VII does not always name every voting member).| Name | Role as filed | Since | On the board |
|---|---|---|---|
| Patrick Terborg Chair | Chair | 2022 | 4 yrs |
| Calvin Souder | Treasurer | 2022 | 4 yrs |
| Carlos Lejnieks | Outgoing Board Trustee (4/2024) | 2022 | 4 yrs |
| Kyle Rosenkrans | Outgoing Treasurer (4/2024) | 2022 | 4 yrs |
| Nayibe Capellan | Board Trustee | 2022 | 4 yrs |
| Paula White | Outgoing Secretary (4/2024) | 2022 | 4 yrs |
| Shennell McCloud | Executive Director/CEO | 2022 | 4 yrs |
Under 5 years5 to 6 years6 years or more
Officers and senior leadership
3 listediNamed in Part VII as officers, key employees or highest-compensated staff - not board members, shown for completeness.| Name | Title as filed | On the filings |
|---|---|---|
| Karin Gerald | COO | since 2023 |
| Nayibe Capellan | Chief of Staff | 2023 |
| Ronald Augustin | Deputy Executive Director | since 2023 |
Pay and hours
year to 30 June 2026iFrom Part VII of the Form 990: compensation reported for each officer, director, trustee, key employee and highest-paid staff member, and the average hours a week they report. Most board members are unpaid; a blank means nothing was reported. Pay from related organisations is shown separately.| Name | Title as filed | Hours a week | Pay from the organisation | Related organisations | Other |
|---|---|---|---|---|---|
| Shennell McCloud | Executive Director | 30 | $192k | $19k | $19k |
| KARIN GERALD term 7-23-06 | Board Trustee | 0.17 | $31k | ||
| Patrick Terborg | Chair | 0.25 | $0 | ||
| Calvin Souder | Treasurer | 0.17 | $0 | ||
| Nayibe Capellan | Secretary | 0.17 | $0 |
About
- Legal name
- Project Ready
- EIN
- 861236556
- Address
- 17 Academy St Ste 1201, Newark, NJ, 07102-2925
- State
- New Jersey
- Mission
- Organizational Transition & Stewardship: During the fiscal year Project Ready successfully completed the responsible wind-down of its charitable operations while fulfilling existing programmatic commitments and stewarding organizational resources. The organization prioritized responsible fiscal management grant compliance preservation of programmatic assets and thoughtful transition planning... (as filed on the Form 990)
- Activity (NTEE)
- B01 Education
- IRS classification
- 501(c)03 (tax-exempt under section 501(c)(3) where shown)
- Classified purpose
- Education
- Size band
- 5 (IRS master file code)
- Formed
- 2021
- Principal officer
- Shennell McCloud (as named on the Form 990)
- IRS ruling date
- 1 May 2021
- Status
- Code 01 (unconditional exemption)
- Form 990 filings on record
- 3, latest 2024
- IRS Publication 78
- PC (contributions deductible)
Most connected
Related organisations (Schedule R)
Longest observed on the filings
≥4years on the filingsPatrick Terborg
≥4years on the filingsCalvin Souder
≥4years on the filingsCarlos Lejnieks
≥4years on the filingsKyle Rosenkrans
Latest return
year to 30 June 2026iFigures from the newest Form 990 or 990-EZ in the IRS e-file releases of 2025 and 2026, for the year ending 30 June 2026. US dollars, as filed.- Total assets
- $34k
- Total liabilities
- $4k
- Net assets or fund balances
- $30k
- Contributions and grants received
- $33k
- Program service revenue
- $0
- Employees
- 2
Filed finances
1 yeariTotals as filed on the IRS Form 990 (revenue and expenses), by tax year.| Tax year | Total revenue | Total expenses | Surplus or deficit |
|---|---|---|---|
| 2023 | $1.6m | $1.9m | Deficit $333k |
As filed on the IRS Form 990. US dollars.