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Aequo Foundation INC FY2023 filing

Tax-deductible

Baltimore, MD501(c)(3)Education EIN 85-3667734Revenue $403K in FY2023

On file with the IRSaequofoundation.org1707 N Charles St, 21201-5801 · Baltimore, MDTax-exempt since Jun 2021Publicly supported charity — 170(b)(1)(A)(vi)

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To support emerging real-estate developers of non-traditional backgrounds (such as minorities, women and immigrants) who seek to advance in the real estate field

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
2 of 3
filings with a surplus
Average deficit $259K a year · 1192% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
62 mo
of spending, in cash
Plus $2.2M in investments, Pt X · Ln 11–13
Looks good: 62.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15.2M
98% of total assets
Concern: liabilities are 98% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$403K
+96% vs prior year
Spent
$249K
To programs
91%
Net assets
$357K
By yearFY2022–FY2024
Revenue
$403K
FY2023▲ +96%
Tap a bar for its year
Revenue by fiscal year
FY2022$205K
FY2023$403K
FY2024−$543K
Expenses
$249K
FY2023▲ +886%
Tap a bar for its year
Expenses by fiscal year
FY2022$25K
FY2023$249K
FY2024$568K
Net assets
$357K
FY2023▲ +76%
Tap a bar for its year
Net assets by fiscal year
FY2022$203K
FY2023$357K
FY2024−$730K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Jun 2021.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $225K Management & general 9% · $24K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Ernst Valery
President
$0Pt VII · Sec A
Jill Dun
Secretary
$0Pt VII · Sec A
Caren Lichter
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Jalal Green
Director
$0Pt VII · Sec A
Anne Nelson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Pipik
Director
$0Pt VII · Sec A
See Aequo Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps emerging real estate developers from diverse backgrounds advance their careers.

Questions for Aequo Foundation INC

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Provided by the organization

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1 program · $225K · in their own filed words · FY2023
01

To support emerging real-estate developers of non-traditional backgrounds (such as minorities, women and immigrants) who seek to advance in the real estate field

$225Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Builders Initiative FoundationFY2024$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 1 grant · $25K · 2022–2022
The Trustees of Columbia University in the City of New YorkNY · FY2022$25,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$403K
Ln 12
Gifts and grantsLn 1h$973K
Fees for servicesLn 2g$194K
Investment incomeLn 3$80K
Money outPt IX
$249K
Ln 25
Programscol B$225K
Managementcol C$24K
Owns and owesPt X
$357K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$15.6M
LiabilitiesLn 26$15.2M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$973K
Government grantsLn 1e$963K
Fees for servicesLn 2g$194K
Investment incomeLn 3$80K
Total revenueLn 12$403K
Assets in detailPt X, end of year
CashLn 1$295K
SavingsLn 2$997K
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$2.2M
Land, buildings, equipmentLn 10c$10.6M
Total assetsLn 16$15.6M
LiabilitiesLn 26$15.2M
Net assetsLn 32$357K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY23End FY23
Cash and savingsLn 1–2$803K$1.3M
InvestmentsLn 11–13$2.2M
Land, buildings, equipmentLn 10c$190K$10.6M
Total assetsLn 16$1.0M$15.6M
LiabilitiesLn 26$803K$15.2M
Net assetsLn 32$203K$357K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$24K$24K
Accounting feesLn 11c$11K$11K
Investment management feesLn 11f$5K$5K
Office expensesLn 13$8K$8K
InterestLn 20$33K$33K
Other expenses (24a–d)Ln 24$168K$168K
Total functional expensesLn 25$249K$225K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest −$543K$568K−$1.1M−$730K 990 PDF
FY2023 Viewing $403K$249K$154K$357K 990 PDF
FY2022 $205K$25K$180K$203K 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 FY2023 990 (6 parts)
Part I · Summary $402,664 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $205,250$972,583
I-9 Program service revenuePrior year $0$194,057
I-10 Investment incomePrior year $67$80,019
I-11 Other revenuePrior year $0−$843,995
I-12 Total revenuePrior year $205,317$402,664
I-13 Grants and similar amounts paidPrior year $25,000$0
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 $230$248,812
I-18 Total expensesPrior year $25,230$248,812
I-19 Revenue less expensesPrior year $180,087$153,852
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $402,664 across 7 lines filed
VIII-1e Government grants$962,583
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$972,583
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $194,057$194,057
VIII-3 Investment incomeRelated to mission $80,019$80,019
VIII-6 Net rental income or lossUnrelated business −$843,995−$843,995
VIII-12 Total revenueRelated to mission $274,076 · Unrelated business −$843,995 · Excluded from tax $0$402,664
Part IX · Statement of functional expenses $248,812 across 6 lines filed
IX-11b Legal feesPrograms $24,000$24,000
IX-11c Accounting feesManagement $10,725$10,725
IX-11f Investment management feesManagement $4,779$4,779
IX-13 Office expensesManagement $8,079$8,079
IX-20 InterestPrograms $32,830$32,830
IX-24 Other expenses (24a–d)Programs $168,399$168,399
IX-25 Total functional expensesPrograms $225,229 · Management $23,583 · Fundraising $0$248,812
Part X · Balance sheet $15,605,845 assets, 14 lines filed
Asset lines not itemized here account for $1,120,347; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $803,181$295,416
X-2 Savings and temporary cash investments$996,543
X-4 Accounts receivableStart of year $13,506$333,127
X-9 Prepaid expenses and deferred charges$33,967
X-10c Land, buildings and equipment, netStart of year $190,000$10,638,871
X-11 Publicly traded securities$2,038,435
X-13 Program-related investments$149,139
X-16 Total assetsStart of year $1,006,687$15,605,845
X-17 Accounts payable and accrued expensesStart of year $25,000$400,478
X-25 Other liabilitiesStart of year $778,343$824,824
X-26 Total liabilitiesStart of year $803,343$15,248,649
X-27 Net assets without donor restrictionsStart of year $203,344$357,196
X-32 Total net assets or fund balancesStart of year $203,344$357,196
X-33 Total liabilities and net assetsStart of year $1,006,687$15,605,845
Part XI · Reconciliation of net assets $357,196 net assets at year end
XI-1 Total revenue$402,664
XI-2 Total expenses$248,812
XI-3 Revenue less expenses$153,852
XI-4 Net assets at start of year$203,344
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$357,196

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

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