Project Ready
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 to maximize the long-term impact of its work and ensure continuity of its mission through future community initiatives.
Project Ready at a glance
- Total assets
- $33,695
- -93.5% vs 2025
- Revenue (2026)
- $68,157
- -95.0% vs 2025
- Net investment income (2026)
- $2,535
- -68.7% vs 2025
- Expenses (2026)
- $532,748
- -66.7% vs 2025
- Latest 990 filing
- Form 990, 2026 View filing
Data from IRS Form 990, 2026; updated September 2026.
Who Project Ready funds
How this funder distributes its grants
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $50–100K range: 3 grants of 5 (60%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2025, annual grant giving ranged from $30K (2025) to $235K (2023). In 2025 it made 1 grant totaling $30K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Rhizome Action Network Inc Seattle, WA | Support advocacy activities in New Jersey such as building teams across high schools in newark to activate young people's identities into action, increase civic engagement in schools, and build lifelong leaders in the community. | $30,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2026 | $33,695 | $68,157 | $532,748 | — | — | $2,535 |
| 2025 | $519,531 | $1,353,948 | $1,598,421 | $30,000 | 1 | $8,089 |
| 2024 | $872,884 | $1,608,983 | $1,941,914 | — | — | $18,368 |
| 2023 | $1,142,697 | $3,104,022 | $2,526,155 | $235,000 | 4 | $11,548 |
| 2022 | $545,292 | $2,709,148 | $2,215,250 | — | — | $2,591 |
About Project Ready
Based on IRS filings
Project Ready is a public charity focused on Education, based in Newark, NJ. IRS filing data is available from 2022 through 2026. As of 2026, the organization holds $34K in total assets. Net investment income was $3K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Project Ready is led by Shennell McCloud, Executive Director since 2026 (on filings since 2022); 1 of 4 officers listed in 2026 is compensated.
Officers on the 2026 filing
Shennell McCloud
Executive Director
Executive Director & CEO → Executive Director, 2026
On filings since 2022
30 hrs/week
$92K (2022) → $192K (2026)
Patrick Terborg
Chair
On filings since 2022
0.3 hrs/week
No compensation reported
Nayibe Capellan
Secretary
Chief of Staff → Board Trustee, 2024
Board Trustee → Secretary, 2025
On filings since 2022
0.2 hrs/week
$63K (2022) → $0 (2026)
Calvin Souder
Treasurer
Board Trustee → Treasurer, 2024
On filings since 2022
0.2 hrs/week
No compensation reported
Former officers (7)
- Former: Karin Gerald (2022–2026) — Board Trustee · Filing note: Term ended 7-23-06
- Former: Ronald Augustin (2023–2025) — Deputy Executive Director
- Former: Brittany Kirkland (2025) — Chief Programs Officer
- Former: Carlos Lejnieks (2022–2024) — Outgoing Board Trustee
- Former: Kyle Rosenkrans (2022–2024) — Outgoing Treasurer
- Former: Paula White (2022–2024) — Outgoing Secretary
- Former: Melissa D'agostino (2022–2023) — Board Trustee
Data from IRS Form 990 filings, 2022–2026. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2026 IRS filing
The highest reported compensation on the 2026 filing was $192K, to Shennell McCloud (Executive Director). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Project Ready
How large is Project Ready?
Project Ready reported $34K in total assets on its 2026 IRS Form 990. Its revenue that year was $68K.
What is Project Ready?
Project Ready is a public charity focused on Education, based in Newark, NJ. It holds $34K in total assets as of 2026.
Where does Project Ready operate?
Project Ready has awarded grants in Delaware, New Jersey, Washington.
What is Project Ready's EIN?
Project Ready's EIN (Employer Identification Number) is 86-1236556. IRS Form 990 filing data is available on this page for 2022–2026.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2026 (received by the IRS August 13, 2026)
- Added Form 990 for fiscal year 2025 (received by the IRS May 8, 2026)
- IRS filings on file for fiscal years 2022–2024
Explore Open Grants
Browse active grant opportunities in Project Ready's focus areas in our free grants database
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Project Ready down — hundreds of funders to go?