Foundation to Restore Accountability

IRS exemption revoked

Tulsa, OKUnknown exempt organization EIN 47-4488132Revenue $27K in FY2020

On file with the IRSrestoreaccountability.comPo Box 52351 · Tulsa, OK

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The Foundation performs original research to examine federal spending and programs with an emphasis on documenting inefficiencies, program overlap, waste, fraud and abuse and the total cost of long term obligations of the federal government.

90¢ of each $1 spent went to programs.
$108K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$108K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27K
Spent
$417K
To programs
90%
Net assets
$13K

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $373K Management & general 9% · $39K Fundraising 1% · $5K

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

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Who runs it and what they're paid

5 people listed on the 990; $108K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$107,570Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foundation to Restore Accountability executive salaries →

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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

Examines federal spending and programs to document inefficiencies, waste, fraud, and long-term government obligations.

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Provided by the organization

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3 programs · $373K · in their own filed words · FY2020
01

Original content and outreach. The primary tool for our organization's education activities is through outreach and audience engagement on our website and social media platforms. With the first year of our new site, we published over 500 original articles while managing social media accounts with nearly 100,000 followers and reaching…

$367Kprogram expense
02

Video production. To better engage our audience, we utilized cartoons, parody, and other educational videos. We produced 100 videos that were viewed over 600,000 times from pop culture parodies to explain budget debates to 90 spoofs explaining the complex financial concepts, to animated explainers on national debt and unfunded…

$4Kprogram expense
03

We ran our third annual scholarship competition and awarded four scholarships to college students. The winners of the essay and video competitions won $1,000 scholarships while the runners-up in each category won $500 in scholarship money.

$2Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $251K · 2020–2020
American TransparencyFL · FY2020$250,526

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$27K
Ln 12
Gifts and grantsLn 1h$25K
Investment incomeLn 3$1K
Money outPt IX
$417K
Ln 25
Programscol B$373K
Managementcol C$39K
Fundraisingcol D$5K
Owns and owesPt X
$13K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$13K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Investment incomeLn 3$1K
Total revenueLn 12$27K
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
Total assetsLn 16$13K
LiabilitiesLn 26$0
Net assetsLn 32$13K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$403K$13K
Total assetsLn 16$403K$13K
LiabilitiesLn 26$0$0
Net assetsLn 32$403K$13K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$251K$251K
Grants to domestic individualsLn 2$2K$2K
Management feesLn 11a$161K$121K$35K$5K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$134$134
Information technologyLn 14$592$592
Other expenses (24a–d)Ln 24$918$918
Total functional expensesLn 25$417K$373K$39K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $27K$417K−$390K$13K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $26,895 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $144,758$25,485
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $6,330$1,410
I-11 Other revenuePrior year $48$0
I-12 Total revenuePrior year $151,136$26,895
I-13 Grants and similar amounts paidPrior year $3,000$252,526
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $206,062$164,373
I-18 Total expensesPrior year $209,062$416,899
I-19 Revenue less expensesPrior year −$57,926−$390,004
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $26,895 across 4 lines filed
VIII-1f All other contributions, gifts and grants$25,485
VIII-1h Total contributions, gifts and grants$25,485
VIII-3 Investment incomeExcluded from tax $1,410$1,410
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,410$26,895
Part IX · Statement of functional expenses $416,899 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $250,526$250,526
IX-2 Grants to domestic individualsPrograms $2,000$2,000
IX-11a Management feesPrograms $120,847 · Management $35,000 · Fundraising $5,000$160,847
IX-11c Accounting feesManagement $1,882$1,882
IX-13 Office expensesManagement $134$134
IX-14 Information technologyManagement $592$592
IX-24 Other expenses (24a–d)Management $918$918
IX-25 Total functional expensesPrograms $373,373 · Management $38,526 · Fundraising $5,000$416,899
Part X · Balance sheet $12,713 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $402,717$12,713
X-16 Total assetsStart of year $402,717$12,713
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $402,717$12,713
X-33 Total liabilities and net assetsStart of year $402,717$12,713
Part XI · Reconciliation of net assets $12,713 net assets at year end
XI-1 Total revenue$26,895
XI-2 Total expenses$416,899
XI-3 Revenue less expenses−$390,004
XI-4 Net assets at start of year$402,717
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,713

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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