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The Foundation for Research on Equal Opportunity FY2022 filing

Tax-deductible

Austin, TX501(c)(3)Community Development EIN 81-2699310Revenue $2.0M in FY2022

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.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
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
$78K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+38% vs prior year
Spent
$1.8M
To programs
74%
Net assets
$835K
By yearFY2020–FY2024
Revenue
$2.0M
FY2022▲ +38%
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
$1.8M
FY2022▲ +59%
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
$835K
FY2022▲ +49%
Tap a bar for its year
Net assets by fiscal year
FY2020$191K
FY2021$562K
FY2022$835K
FY2023$1.4M
FY2024$855K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

74 cents of each dollar spent went to programs.

Program services 74% · $1.3M Management & general 16% · $285K Fundraising 10% · $178K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Ames Brown
Board Member
$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
Jonathan Bush
Chairman of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Frank Laukien
Board Member
$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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3 programs · $712K · in their own filed words · FY2022
01

Healthcare General

We believe that americans deserve a health care system that provides universal - and universally affordable - coverage for today's americans, and a fiscally sustainable system for the generations to come. Our health care research is focused on making this a reality.

$271Kprogram expense
02

Communications Outreach

Through our communication and outreach efforts, we effectively disseminate our research findings, insights, and recommendations to various stakeholders and the broader public.

$260Kprogram expense
03

Education

Freopp conducts original research in both the higher education space, and in the k-12 space. Our k-12 program is focused on increasing parents and students' sovereignty over their children's education.

$180Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$14K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.3M
Managementcol C$285K
Fundraisingcol D$178K
Owns and owesPt X
$835K
net assets · Ln 32
Cash and savingsLn 1–2$875K
Total assetsLn 16$912K
LiabilitiesLn 26$78K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$14K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$875K
Cash and savings togetherLn 1–2$875K
Land, buildings, equipmentLn 10c$5K
Other assetsLn 15$0
Total assetsLn 16$912K
LiabilitiesLn 26$78K
Net assetsLn 32$835K
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 FY22End FY22
Cash and savingsLn 1–2$268K$875K
Land, buildings, equipmentLn 10c$7K$5K
Total assetsLn 16$625K$912K
LiabilitiesLn 26$63K$78K
Net assetsLn 32$562K$835K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$699K$583K$38K$78K
Other employee benefitsLn 9$63K$48K$8K$7K
Payroll taxesLn 10$51K$42K$3K$6K
Other fees for servicesLn 11g$401K$268K$89K$44K
Advertising and promotionLn 12$17K$17K
Office expensesLn 13$21K$5K$9K$7K
OccupancyLn 16$100K$100K
TravelLn 17$359K$324K$4K$31K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$50K$15K$29K$6K
All other expensesLn 24e$886$499$387
Total functional expensesLn 25$1.8M$1.3M$285K$178K

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 Viewing $2.0M$1.8M$273K$835K 990 PDF
FY2021 $1.5M$1.1M$371K$562K 990 PDF
FY2020 $988K$947K$41K$191K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $2,038,270 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,468,281$2,279,602
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $11,802$13,870
I-11 Other revenuePrior year $0−$255,202
I-12 Total revenuePrior year $1,480,083$2,038,270
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $615,787$812,851
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $493,508$952,600
I-18 Total expensesPrior year $1,109,295$1,765,451
I-19 Revenue less expensesPrior year $370,788$272,819
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $2,038,270 across 5 lines filed
VIII-1f All other contributions, gifts and grants$2,279,602
VIII-1h Total contributions, gifts and grants$2,279,602
VIII-3 Investment incomeRelated to mission $13,870$13,870
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$255,202−$255,202
VIII-12 Total revenueRelated to mission −$241,332 · Unrelated business $0 · Excluded from tax $0$2,038,270
Part IX · Statement of functional expenses $1,765,451 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $582,623 · Management $38,086 · Fundraising $78,016$698,725
IX-9 Other employee benefitsPrograms $48,340 · Management $8,288 · Fundraising $6,646$63,274
IX-10 Payroll taxesPrograms $42,050 · Management $3,149 · Fundraising $5,653$50,852
IX-11g Other fees for servicesPrograms $268,386 · Management $88,773 · Fundraising $44,095$401,254
IX-12 Advertising and promotionPrograms $16,516$16,516
IX-13 Office expensesPrograms $5,197 · Management $8,900 · Fundraising $6,579$20,676
IX-16 OccupancyManagement $99,682$99,682
IX-17 TravelPrograms $324,206 · Management $3,821 · Fundraising $30,809$358,836
IX-22 Depreciation, depletion and amortizationManagement $1,447$1,447
IX-23 InsuranceManagement $2,942$2,942
IX-24 Other expenses (24a–d)Programs $14,728 · Management $29,360 · Fundraising $6,273$50,361
IX-24e All other expensesManagement $499 · Fundraising $387$886
IX-25 Total functional expensesPrograms $1,302,046 · Management $284,947 · Fundraising $178,458$1,765,451
Part X · Balance sheet $912,359 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $268,229$875,211
X-9 Prepaid expenses and deferred chargesStart of year $19,915$31,815
X-10c Land, buildings and equipment, netStart of year $6,780$5,333
X-15 Other assetsStart of year $329,945$0
X-16 Total assetsStart of year $624,869$912,359
X-17 Accounts payable and accrued expensesStart of year $63,158$77,829
X-26 Total liabilitiesStart of year $63,158$77,829
X-27 Net assets without donor restrictionsStart of year $561,711$110,310
X-28 Net assets with donor restrictions$724,220
X-32 Total net assets or fund balancesStart of year $561,711$834,530
X-33 Total liabilities and net assetsStart of year $624,869$912,359
Part XI · Reconciliation of net assets $834,530 net assets at year end
XI-1 Total revenue$2,038,270
XI-2 Total expenses$1,765,451
XI-3 Revenue less expenses$272,819
XI-4 Net assets at start of year$561,711
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$834,530

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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