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The Foundation for Research on Equal Opportunity FY2020 filing

Tax-deductible

Austin, TX501(c)(3)Community DevelopmentEIN 81-2699310Revenue $988K in FY2020

On file with the IRSfreopp.org201 W 5th St Ste 1100, 78701-0060 · Austin, TXTax-exempt since Sep 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The Foundation for Research on Equal Opportunity conducts original Research on (cont. On sch o) expanding economic Opportunity to those who least have IT. Freopp is committed to deploying the nation's leading scholars and the tools of individual liberty, free enterprise, technological innovation, and pluralism to serve this mission. All Research conducted by freopp considers the impact of public policies and proposed reforms on those with incomes or wealth below the u.s. Median.

501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
5 of 5
filings with a surplus
Average surplus $360K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $207K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$35K
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$988K
Spent
$947K
To programs
50%
Net assets
$191K
By yearFY2020–FY2024
Revenue
$988K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$988K
FY2021$1.5M
FY2022$2.0M
FY2023$3.2M
FY2024$3.1M
Expenses
$947K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$947K
FY2021$1.1M
FY2022$1.8M
FY2023$2.7M
FY2024$2.6M
Net assets
$191K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$191K
FY2021$562K
FY2022$835K
FY2023$1.4M
FY2024$855K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2016.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $473K Management & general 26% · $246K Fundraising 24% · $228K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Ames Brown
Former Chairman
$0Pt VII · Sec A
Avik Roy
President/Board Member
$0Pt VII · Sec A
Lanhee Chen
Board Member
$0Pt VII · Sec A
Vivek Ramaswamy
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Avik Roy’s $288K as President / Board Member is at the 84th percentile of top reported officer pay among 2832 $1–10M community development 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 · 3 named individuals · Part VII

NameFY2024FY2023
Avik Roy$287,536$289,000
Preston Cooper—$176,000
Rebecca Atwood$103,377—

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.

See The Foundation for Research on Equal Opportunity 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

Researches how policies can expand economic opportunity for lower-income Americans.

Questions for The Foundation for Research on Equal Opportunity

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Provided by the organization

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1 program · $473K · in their own filed words · FY2020
01

The foundation for research on equal opportunity conducts original research on expanding economic opportunity to those who least have it. Freopp is committed to deploying the nation's leading scholars and the tools of individual liberty, free enterprise, and technological innovation to serve this mission.

$473Kprogram expense

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
Blue Cross Blue Shield AssociationFY2024$50K
Vanguard Charitable Endowment ProgramFY2024$50K
National Philanthropic TrustFY2024$40K
Fidelity Investments Charitable Gift FundFY2024$26K
National Institute for Health Care Management Research Educ FdnFY2024$18K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$10K
Donors Trust INCFY2024$7K
Donor Advised Charitable Giving INCFY2024$6K
Total grants receivedfrom 8 funders$207K
See all 8 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$988K
Ln 12
Gifts and grantsLn 1h$988K
Money outPt IX
$947K
Ln 25
Programscol B$473K
Managementcol C$246K
Fundraisingcol D$228K
Owns and owesPt X
$191K
net assets · Ln 32
Cash and savingsLn 1–2$206K
Total assetsLn 16$226K
LiabilitiesLn 26$35K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$988K
Total revenueLn 12$988K
Assets in detailPt X, end of year
CashLn 1$206K
Cash and savings togetherLn 1–2$206K
Land, buildings, equipmentLn 10c$515
Total assetsLn 16$226K
LiabilitiesLn 26$35K
Net assetsLn 32$191K
OperationsPt I, VI
EmployeesI 50
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 FY20End FY20
Cash and savingsLn 1–2$154K$206K
Land, buildings, equipmentLn 10c$0$515
Total assetsLn 16$158K$226K
LiabilitiesLn 26$8K$35K
Net assetsLn 32$150K$191K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$451K$304K$43K$104K
Other employee benefitsLn 9$47K$28K$10K$9K
Payroll taxesLn 10$30K$20K$3K$8K
Management feesLn 11a$48K$960$47K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$20K$20K
Other fees for servicesLn 11g$216K$104K$29K$84K
Office expensesLn 13$22K$14K$8K
Information technologyLn 14$2K$2K
OccupancyLn 16$58K$58K
TravelLn 17$21K$15K−$66$5K
Conferences, conventions and meetingsLn 19$9K$386$9K
Depreciation, depletion and amortizationLn 22$68$68
InsuranceLn 23$894$894
Other expenses (24a–d)Ln 24$17K$1K$14K$2K
Total functional expensesLn 25$947K$473K$246K$228K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.1M$2.6M$529K$855K 990 PDF
FY2023 $3.2M$2.7M$586K$1.4M 990 PDF
FY2022 $2.0M$1.8M$273K$835K 990 PDF
FY2021 $1.5M$1.1M$371K$562K 990 PDF
FY2020 Viewing $988K$947K$41K$191K 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 FY2020 990 (6 parts)
Part I · Summary $987,673 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $827,231$987,673
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $827,231$987,673
I-13 Grants and similar amounts paidPrior year $7,500$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $457,518$528,484
I-16a Professional fundraising feesPrior year $59,625$0
I-17 Other expensesPrior year $308,181$418,454
I-18 Total expensesPrior year $832,824$946,938
I-19 Revenue less expensesPrior year −$5,593$40,735
Part VI · Governance 3 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $987,673 across 3 lines filed
VIII-1f All other contributions, gifts and grants$987,673
VIII-1h Total contributions, gifts and grants$987,673
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$987,673
Part IX · Statement of functional expenses $946,938 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $304,177 · Management $43,446 · Fundraising $103,508$451,131
IX-9 Other employee benefitsPrograms $28,112 · Management $10,346 · Fundraising $8,834$47,292
IX-10 Payroll taxesPrograms $19,579 · Management $2,892 · Fundraising $7,590$30,061
IX-11a Management feesPrograms $960 · Management $47,213$48,173
IX-11b Legal feesManagement $3,601$3,601
IX-11c Accounting feesManagement $20,100$20,100
IX-11g Other fees for servicesPrograms $103,671 · Management $28,637 · Fundraising $83,723$216,031
IX-13 Office expensesManagement $14,103 · Fundraising $8,144$22,247
IX-14 Information technologyManagement $1,923$1,923
IX-16 OccupancyManagement $58,294$58,294
IX-17 TravelPrograms $15,397 · Management −$66 · Fundraising $5,467$20,798
IX-19 Conferences, conventions and meetingsManagement $386 · Fundraising $8,759$9,145
IX-22 Depreciation, depletion and amortizationManagement $68$68
IX-23 InsuranceManagement $894$894
IX-24 Other expenses (24a–d)Programs $1,454 · Management $13,982 · Fundraising $1,744$17,180
IX-25 Total functional expensesPrograms $473,350 · Management $245,819 · Fundraising $227,769$946,938
Part X · Balance sheet $226,391 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $153,808$205,863
X-9 Prepaid expenses and deferred chargesStart of year $4,671$20,013
X-10c Land, buildings and equipment, netStart of year $0$515
X-16 Total assetsStart of year $158,479$226,391
X-17 Accounts payable and accrued expensesStart of year $8,292$35,468
X-26 Total liabilitiesStart of year $8,292$35,468
X-27 Net assets without donor restrictionsStart of year −$29,983$371,093
X-28 Net assets with donor restrictionsStart of year $180,170−$180,170
X-32 Total net assets or fund balancesStart of year $150,187$190,923
X-33 Total liabilities and net assetsStart of year $158,479$226,391
Part XI · Reconciliation of net assets $190,923 net assets at year end
XI-1 Total revenue$987,673
XI-2 Total expenses$946,938
XI-3 Revenue less expenses$40,735
XI-4 Net assets at start of year$150,187
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$190,923

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

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