Readyone Industries Inc
- Assets
- $60.2m
- Revenue
- $73.6m
- Investments
- $4.0m
- Employees
- 817
- Location
- El Paso, TX
- Founding
- 03/1990
- Data as of
- 12/2021
- EIN
- 74-2544266
Organization Overview
Readyone Industries Inc is located in El Paso, TX. The organization was established in 1990. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 12/2021, Readyone Industries Inc employed 817 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readyone Industries 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 12/2021, Readyone Industries Inc generated $73.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $79.8m during the year ending 12/2021. While expenses have increased by 2.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EMPLOYMENT TO INDIVIDUALS WITH SIGNIFICANT DISABILITIES IN AN ENVIRONMENT THAT INSPIRES AND NURTURES SELF DETERMINATION AND SUCCESS. EMPLOYING 243 SEVERELY DISABLED INDIVIDUALS AT DECEMBER 31, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wesley Wellons Incoming President/coo | Officer | 60 | $230,385 |
Maria G Soto Chief Financial Officer | Officer | 60 | $150,481 |
Geronimo Medina General Manager Garment Di | 60 | $145,385 | |
Luis Alvarez Outgoing Ceo/president | Officer | 60 | $144,375 |
Loretta Hemsworth Director Of Corrugated | 50 | $129,600 | |
Loretta Enriquez Director Of Human Resources | 50 | $115,865 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carehere Medical Services | 12/30/21 | $550,067 |
Disc-o-bed Lp Supplies | 12/30/21 | $264,607 |
Dc Holdings Llc Consulting | 12/30/21 | $131,772 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,404,862 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,404,862 |
| Total Program Service Revenue | $6,309,501 |
| Investment income | $310,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $282,971 |
| Net Gain/Loss on Asset Sales | $8,066 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,579,392 |
| 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. | $1,113,695 |
| Compensation of current officers, directors, key employees. | $292,930 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,249,379 |
| Pension plan accruals and contributions | $81,704 |
| Other employee benefits | $1,412,911 |
| Payroll taxes | $1,169,980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $292,331 |
| Fees for services: Accounting | $98,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $246,259 |
| Advertising and promotion | $70,910 |
| Office expenses | $381,954 |
| Information technology | $448,853 |
| Royalties | $26,880 |
| Occupancy | $654,098 |
| Travel | $222,792 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,593 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,198,160 |
| Insurance | $350,641 |
| All other expenses | $142,116 |
| Total functional expenses | $79,844,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,635,037 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,964,967 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,073,737 |
| Prepaid expenses and deferred charges | $461,491 |
| Net Land, buildings, and equipment | $14,045,108 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,000,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,180,340 |
| Accounts payable and accrued expenses | $5,489,045 |
| 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 | $295,544 |
| Other liabilities | $0 |
| Total liabilities | $5,784,589 |
| Net assets without donor restrictions | $54,395,751 |
| Net assets with donor restrictions | $0 |
| 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 | $60,180,340 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Readyone Industries Inc has recieved totaling $23,370.
| Awarding Organization | Amount |
|---|---|
Sourceamerica Vienna, VA PURPOSE: PPE | $11,685 |
Sourceamerica Vienna, VA PURPOSE: PPE | $11,685 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Readyone Industries Inc El Paso, TX | $60,180,340 | $73,579,392 |
St Vincent De Paul Rehabilitation Services Of Texas Inc Austin, TX | $16,794,582 | $39,886,579 |
A New Leaf Inc Tulsa, OK | $30,123,597 | $11,036,525 |
Relief Enterprise Inc Austin, TX | $3,705,366 | $10,769,184 |
Tobosa Development And Training Center Inc Roswell, NM | $2,934,228 | $8,747,306 |
Employment Development Services Inc Baton Rouge, LA | $2,149,283 | $8,763,804 |
South Central Industries Inc Shawnee, OK | $6,532,527 | $8,417,395 |
The Reach Corporation Weleetka, OK | $2,127,126 | $7,824,612 |
Equip Enterprises San Antonio, TX | $2,712,053 | $7,218,578 |
Mavagi Enterprises Inc San Antonio, TX | $3,513,054 | $7,812,906 |
Enterprise Professional Services Inc Lakeway, TX | $4,948,855 | $7,447,924 |
Abilities Unlmited Of Hot Springs Arkansas Inc Hot Springs, AR | $5,854,047 | $5,115,897 |