Equipnet emerges out of a unique community of individuals that are committed to using their giftedness, resources and relationships as instruments for bringing hope and dignity to people in need.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $256K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$285K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $16K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$151K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 5 voting members
Worth a look: 2 of 5 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.4M
+43% vs prior year
Spent
$14.8M
To programs
98%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$15.4M
FY2024▲ +43%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.1M
FY2021$6.2M
FY2022$7.9M
FY2023$10.8M
FY2024$15.4M
Expenses
$14.8M
FY2024▲ +39%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.2M
FY2021$5.8M
FY2022$7.8M
FY2023$10.6M
FY2024$14.8M
Net assets
$1.6M
FY2024▲ +76%
Tap a bar for its year
Net assets by fiscal year
FY2020$338K
FY2021$695K
FY2022$804K
FY2023$904K
FY2024$1.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2001.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $14.4M Management & general 2% · $226K Fundraising 1% · $84K

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; $285K paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretary
$105,130Pt VII · Sec A
President & CEO
$91,583Pt VII · Sec A
Board Member
$88,000Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Elbert Paul’s $105K as Secretary is at the 11th percentile of top reported officer pay among 224 $10–100M religion 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

NameFY2024FY2023FY2022FY2021FY2020
Elbert Paul$105,130$108,676$8,250$9,000—
Robert Norsworthy$91,583$64,999$59,049$40,000$30,666
Thel Roundtree$88,000$44,770———

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 Equipnet 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

Bringing hope and dignity to people in need through giftedness, resources, and relationships.

Questions for Equipnet

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Provided by the organization

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1 program · $14.4M · in their own filed words · FY2024
01

Equipnet accepts funds from a variety of donors. Equipnet then identifies worthy programs which satisfy the requirements of the restricted funds received. Equipnet focuses its funding on programs related to leadership development, training, technology, and micro-economic development strategies that empower and give lift to the indigenous…

$14.4Mprogram 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 · FY2025
Total grants receivedfrom 4 funders$16K
See all 4 funders →
Grants paid · 22 grants · $38.1M · 2020–2024
Unitemized GrantFY2024$13,232,550
Hope 27FY2024$22,197
Bravehearts Unlimited INCCA · FY2024$7,598
Connect Africa MinistriesFY2024$5,770
Unitemized GrantFY2023$9,416,974
Bravehearts Unlimited INCCA · FY2023$12,395
Light of HopeFY2023$10,571
Peace Rehabilitation CenterFY2023$8,939
Connect Africa MinistriesFY2023$6,497
Unitemized GrantFY2022$6,793,718
CrtqFY2022$14,352
Individual RecipientFY2022$13,798
Connect Africa MinistriesFY2022$10,131
Bravehearts Unlimited INCCA · FY2022$5,111
Unitemized GrantFY2021$4,962,515
Fulton Sheen InstituteFY2021$25,620
Newsong Community ChurchMN · FY2021$20,372
Connect Africa MinistriesFY2021$18,486
See all 22 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.4M
Ln 12
Gifts and grantsLn 1h$15.4M
Investment incomeLn 3$3K
Money outPt IX
$14.8M
Ln 25
Programscol B$14.4M
Managementcol C$226K
Fundraisingcol D$84K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$1.7M
LiabilitiesLn 26$151K
PeoplePt VI, VII
5
listed · VII A
PaidVII A3
Voting boardVI 1a5
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15.4M
Noncash giftsLn 1g$39K
Investment incomeLn 3$3K
Gains on assetsLn 7$0
Total revenueLn 12$15.4M
Assets in detailPt X, end of year
CashLn 1$1.6M
SavingsLn 2$0
Cash and savings togetherLn 1–2$1.6M
InvestmentsLn 11–13$158K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$0
Total assetsLn 16$1.7M
LiabilitiesLn 26$151K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$1.1M$1.6M
InvestmentsLn 11–13$3K$158K
Land, buildings, equipmentLn 10c$1K$1K
Total assetsLn 16$1.1M$1.7M
LiabilitiesLn 26$164K$151K
Net assetsLn 32$904K$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$36K$36K
Grants to domestic individualsLn 2$13.2M$13.2M
Grants and assistance to foreign recipientsLn 3$477K$477K
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$500K$335K$165K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$46K$46K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$84K$84K
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$1K$1K
RoyaltiesLn 15$0
OccupancyLn 16$12K$12K
TravelLn 17$72$72
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$365K$364K$625
All other expensesLn 24e$428$428
Total functional expensesLn 25$14.8M$14.4M$226K$84K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $15.4M$14.8M$683K$1.6M 990 PDF
FY2023 $10.8M$10.6M$143K$904K 990 PDF
FY2022 $7.9M$7.8M$109K$804K 990 PDF
FY2021 $6.2M$5.8M$356K$695K 990 PDF
FY2020 $4.1M$4.2M−$8K$338K 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 F · Foreign M · Noncash O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $15,436,827 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,769,569$15,434,146
I-9 Program service revenue$0
I-10 Investment incomePrior year $4$2,681
I-11 Other revenue$0
I-12 Total revenuePrior year $10,769,573$15,436,827
I-13 Grants and similar amounts paidPrior year $9,802,119$13,744,702
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $447,770$499,713
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $377,086$509,736
I-18 Total expensesPrior year $10,626,975$14,754,151
I-19 Revenue less expensesPrior year $142,598$682,676
Part VI · Governance 2 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members2
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 $15,436,827 across 9 lines filed
VIII-1f All other contributions, gifts and grants$15,434,146
VIII-1g Noncash contributions (included above)$39,425
VIII-1h Total contributions, gifts and grants$15,434,146
VIII-3 Investment incomeExcluded from tax $2,681$2,681
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $2,681$15,436,827
Part IX · Statement of functional expenses $14,754,151 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $35,565$35,565
IX-2 Grants to domestic individualsPrograms $13,232,550$13,232,550
IX-3 Grants and assistance to foreign recipientsPrograms $476,587$476,587
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $334,808 · Management $164,905$499,713
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $46,445$46,445
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesFundraising $84,167$84,167
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technologyManagement $1,200$1,200
IX-15 Royalties$0
IX-16 OccupancyManagement $12,324$12,324
IX-17 TravelPrograms $72$72
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $364,475 · Management $625$365,100
IX-24e All other expensesManagement $428$428
IX-25 Total functional expensesPrograms $14,444,057 · Management $225,927 · Fundraising $84,167$14,754,151
Part X · Balance sheet $1,738,236 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,064,130$1,579,030
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $1,218$1,218
X-11 Publicly traded securitiesStart of year $2,900$157,988
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,068,248$1,738,236
X-25 Other liabilitiesStart of year $164,349$150,796
X-26 Total liabilitiesStart of year $164,349$150,796
X-27 Net assets without donor restrictionsStart of year $903,899$1,587,440
X-32 Total net assets or fund balancesStart of year $903,899$1,587,440
X-33 Total liabilities and net assetsStart of year $1,068,248$1,738,236
Part XI · Reconciliation of net assets $1,587,440 net assets at year end
XI-1 Total revenue$15,436,827
XI-2 Total expenses$14,754,151
XI-3 Revenue less expenses$682,676
XI-4 Net assets at start of year$903,899
XI-5 Net unrealized gains (losses) on investments$1,057
XI-9 Other changes in net assets−$192
XI-10 Net assets at end of year$1,587,440

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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