Overview
What is Equitable Facilities Fund Inc?
Equitable Facilities Fund Inc is a New York-based nonprofit organization dedicated to enhancing public education for children by providing charter schools with affordable, long-term financing. They leverage donations and philanthropic monies to create a unique source of capital, combining mission-related investments and capital markets innovatively. With a team of 16 employees, their mission is to empower high-performing public charter schools with equitable access to financing, ultimately leading to improved education for all children.
Official website here: www.eqfund.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% (Three-Star out of Four Star rating)
Equitable Facilities Fund Inc has received an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. This score reflects a strong emphasis on financial oversight, with a perfect score in several categories, including the independence of board members and the absence of material diversion of assets. Such transparency and governance practices suggest a commitment to responsible management of resources.
The organization excels in its program expense ratio, which stands at 92.71%, showcasing that a significant portion of its funds are directed towards its mission-related activities. Additionally, the working capital ratio of 21.20 years indicates a robust financial standing, allowing the nonprofit to sustain its operations over the long term without immediate financial pressures.
However, while the financial metrics are strong, the overall three-star rating suggests there may be areas for improvement or a need for broader impact metrics beyond finance. Stakeholders might look for more information regarding the organization's program effectiveness and overall mission outcomes to gauge the full extent of its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Equitable Facilities Fund Inc legitimate?
Equitable Facilities Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Equitable Facilities Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,696,821
Professional Fundraising Fees: $17,147
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.eqfund.org
What is the mission statement of Equitable Facilities Fund Inc?
Equitable Facilities Fund Inc is a nonprofit organization dedicated to ensuring that all children have access to a high-quality education. They achieve this by empowering top-performing public charter schools with equitable access to affordable, long-term financing. By innovatively merging mission-related investments and capital markets, EFF enables charter schools to borrow money more effectively. The fund's mission revolves around designing, implementing, and maintaining a new financing source for charter school facilities, ultimately leading to enhanced public education for students.
Official website here: www.eqfund.org
Who is the CEO of Equitable Facilities Fund Inc?
Anand Kesavan is the Chairman of Equitable Facilities Fund Inc. The CEO's salary of Equitable Facilities Fund Inc is $500,000 and their total compensation is $539,683.
Official website here: www.eqfund.org
What is the revenue of Equitable Facilities Fund Inc?
Equitable Facilities Fund Inc's revenue in 2022 was $109,581,682.
Official website here: www.eqfund.org
Who are the executives of Equitable Facilities Fund Inc and what are their salaries?
The average compensation at Equitable Facilities Fund Inc during 2022 was $106,051. There are 16 employees and 5 volunteers at Equitable Facilities Fund Inc.
Here are 12 key members and their salaries (Equitable Facilities Fund Inc's CEO's salary is $500,000 and their total compensation is $539,683):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $500,000
- Related: $0
- Other: $39,683
- Compensation: $220,000
- Related: $0
- Other: $40,004
- Compensation: $228,000
- Related: $0
- Other: $23,089
- Compensation: $208,821
- Related: $0
- Other: $40,161
- Compensation: $198,000
- Related: $0
- Other: $31,803
- Compensation: $198,000
- Related: $0
- Other: $19,913
- Compensation: $107,250
- Related: $0
- Other: $34,940
Official website here: www.eqfund.org
Where can I find the form 990 for Equitable Facilities Fund Inc?
Equitable Facilities Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.eqfund.org
Learn more at the official website: www.eqfund.org
Mission Statement of Equitable Facilities Fund Inc
Equitable Facilities Fund Inc, a nonprofit social impact fund, is dedicated to ensuring that all children have access to a high-quality education by empowering top-performing public charter schools with equitable financing for their facilities. The organization achieves this by ingeniously merging mission-related investments and capital markets. Through this innovative approach, it enables charter schools to borrow money more affordably and effectively.
By leveraging donations and other philanthropic monies it receives, Equitable Facilities Fund Inc creates a new source of capital for charter school facilities. This will ultimately lead to improved public education for children, as these schools can focus on their academic missions rather than being burdened with the financial challenges of funding their facilities. The organization's drive to make a difference in education extends beyond just providing financing, as its efforts are designed to create long-term, sustainable solutions for charter schools.
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Impact
October, 2024
Equitable Facilities Fund Inc significantly impacts the educational landscape by enhancing access to quality facilities for high-performing public charter schools. By leveraging donations and philanthropic contributions, the fund enables these schools to secure low-cost, long-term financing. This innovative financial model combines mission-related investments with capital markets, allowing charter schools to borrow effectively and at reduced rates. As a result, the initiative fosters improved public education outcomes for children, ensuring that all students have access to better learning environments. Ultimately, the Equitable Facilities Fund is dedicated to advancing educational equity and enhancing the overall quality of education for underserved communities.
This information is meant to be a general summary of Equitable Facilities Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,395,941
- Program Service Revenue: $30,035,741
- Gross Receipts: $109,581,682
Assets and Liabilities:
- Total Assets: $1,150,821,941
- Total Liabilities: $803,620,450
- Net Assets: $347,201,491
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$29,511,381
SERVICE FEES
Revenue
$524,360
Organization Details
Founding Year
2017
Phone
(212) 506-5089Principal Officer
Anand Kesavan
Main Address
228 PARK AVE S PMB 61633, NEW YORK, NY, 100031502
Website
www.eqfund.orgNTEE Category
Code: B11 - Education
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