The Foundation for Research on Equal Opportunity: FY2023 Nonprofit Profile & Form 990 (EIN 81-2699310)

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

Name	FY2024	FY2023
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.

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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.

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3 programs · $879K · in their own filed words · FY2023

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.

$341Kprogram expense

02

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.

$280Kprogram expense

03

Communications Outreach

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

$257Kprogram 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

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By the numbers

The FY2023 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$3.2M

Ln 12

Gifts and grantsLn 1h$3.2M

Other incomeLn 4–11$5K

Investment incomeLn 3$83

Money outPt IX

$2.7M

Ln 25

Programscol B$2.1M

Managementcol C$373K

Fundraisingcol D$229K

Owns and owesPt X

$1.4M

net assets · Ln 32

Cash and savingsLn 1–2$303K

Total assetsLn 16$1.8M

LiabilitiesLn 26$353K

PeoplePt VI, VII

8

listed · VII A

PaidVII A2

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.2M

Investment incomeLn 3$83

Other incomeLn 4–11$5K

Total revenueLn 12$3.2M

Assets in detailPt X, end of year

CashLn 1$303K

Cash and savings togetherLn 1–2$303K

Land, buildings, equipmentLn 10c$4K

Total assetsLn 16$1.8M

LiabilitiesLn 26$353K

Net assetsLn 32$1.4M

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$875K	$303K
Land, buildings, equipmentLn 10c	$5K	$4K
Total assetsLn 16	$912K	$1.8M
LiabilitiesLn 26	$78K	$353K
Net assetsLn 32	$835K	$1.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$591K	$489K	$31K	$72K
Other salaries and wagesLn 7	$301K	$249K	$16K	$36K
Other employee benefitsLn 9	$74K	$62K	$4K	$9K
Payroll taxesLn 10	$57K	$47K	$3K	$7K
Legal feesLn 11b	$24K	$24K
Accounting feesLn 11c	$17K		$17K
Other fees for servicesLn 11g	$503K	$438K	$49K	$15K
Advertising and promotionLn 12	$111K	$104K	$7K
Office expensesLn 13	$14K	$2K	$12K	$865
Information technologyLn 14	$167K	$115K	$52K
OccupancyLn 16	$139K		$139K
TravelLn 17	$198K	$181K	$2K	$16K
Conferences, conventions and meetingsLn 19	$290K	$286K	$141	$4K
Depreciation, depletion and amortizationLn 22	$1K		$1K
InsuranceLn 23	$3K		$3K
Other expenses (24a–d)Ln 24	$170K	$64K	$37K	$69K
All other expensesLn 24e	$848	$4	$386	$458
Total functional expensesLn 25	$2.7M	$2.1M	$373K	$229K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$3.1M	$2.6M	$529K	$855K	990 PDF
FY2023 Viewing	$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	$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 J · Pay O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $3,248,169 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,279,602$3,243,505

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $13,870$83

I-11 Other revenuePrior year −$255,202$4,581

I-12 Total revenuePrior year $2,038,270$3,248,169

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 $812,851$1,023,286

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $952,600$1,639,155

I-18 Total expensesPrior year $1,765,451$2,662,441

I-19 Revenue less expensesPrior year $272,819$585,728

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 $3,248,169 across 5 lines filed

VIII-1f All other contributions, gifts and grants$3,243,505

VIII-1h Total contributions, gifts and grants$3,243,505

VIII-3 Investment incomeRelated to mission $83$83

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,581$4,581

VIII-12 Total revenueRelated to mission $4,664 · Unrelated business $0 · Excluded from tax $0$3,248,169

Part IX · Statement of functional expenses $2,662,441 across 17 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $488,548 · Management $30,875 · Fundraising $71,577$591,000

IX-7 Other salaries and wagesPrograms $248,558 · Management $15,708 · Fundraising $36,416$300,682

IX-9 Other employee benefitsPrograms $61,731 · Management $3,840 · Fundraising $8,736$74,307

IX-10 Payroll taxesPrograms $47,470 · Management $3,088 · Fundraising $6,739$57,297

IX-11b Legal feesPrograms $23,773$23,773

IX-11c Accounting feesManagement $16,696$16,696

IX-11g Other fees for servicesPrograms $438,475 · Management $49,280 · Fundraising $15,394$503,149

IX-12 Advertising and promotionPrograms $103,838 · Management $6,965$110,803

IX-13 Office expensesPrograms $1,776 · Management $11,754 · Fundraising $865$14,395

IX-14 Information technologyPrograms $114,967 · Management $52,409$167,376

IX-16 OccupancyManagement $139,481$139,481

IX-17 TravelPrograms $180,642 · Management $1,624 · Fundraising $15,885$198,151

IX-19 Conferences, conventions and meetingsPrograms $285,940 · Management $141 · Fundraising $4,193$290,274

IX-22 Depreciation, depletion and amortizationManagement $1,313$1,313

IX-23 InsuranceManagement $3,351$3,351

IX-24 Other expenses (24a–d)Programs $64,118 · Management $36,573 · Fundraising $68,854$169,545

IX-24e All other expensesPrograms $4 · Management $386 · Fundraising $458$848

IX-25 Total functional expensesPrograms $2,059,840 · Management $373,484 · Fundraising $229,117$2,662,441

Part X · Balance sheet $1,772,889 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $875,211$303,329

X-4 Accounts receivable$1,126,403

X-9 Prepaid expenses and deferred chargesStart of year $31,815$29,362

X-10c Land, buildings and equipment, netStart of year $5,333$4,020

X-14 Intangible assets$309,775

X-16 Total assetsStart of year $912,359$1,772,889

X-17 Accounts payable and accrued expensesStart of year $77,829$38,344

X-24 Unsecured notes and loans payable$314,287

X-26 Total liabilitiesStart of year $77,829$352,631

X-27 Net assets without donor restrictionsStart of year $110,310−$33,259

X-28 Net assets with donor restrictionsStart of year $724,220$1,453,517

X-32 Total net assets or fund balancesStart of year $834,530$1,420,258

X-33 Total liabilities and net assetsStart of year $912,359$1,772,889

Part XI · Reconciliation of net assets $1,420,258 net assets at year end

XI-1 Total revenue$3,248,169

XI-2 Total expenses$2,662,441

XI-3 Revenue less expenses$585,728

XI-4 Net assets at start of year$834,530

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,420,258

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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The Foundation for Research on Equal Opportunity FY2023 filing

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