Civic Intelligence

Equal Chance for Education

990 • Fiscal year 2022 • EIN 46-4528066

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 20, 2023

Organization ProfileWWW.EQUALCHANCEFOREDUCATION.COM
73 White Bridge Rd 103 Box 351Nashville, TN 37205

(713) 208-7595

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.52x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

52nd percentile

0.09x

Higher debt load relative to revenue than 52% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

31st percentile

-1.8%

Higher net margin than 31% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

61st percentile

$83,125

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

4th percentile

-30%

Faster asset growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

55th percentile

9.0%

Faster revenue growth than 55% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$309,155

Down $131,440 (-30%) from 2021

Net Assets

Down

$147,120

Down $293,475 (-67%) from 2021

Liabilities

Up

$162,035

Up $162,035 from 2021

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin31st percentile

Revenue

Up

$1,797,877

Up $147,929 (+9.0%) from 2021

Expenses

Up

$1,830,352

Up $202,879 (+12%) from 2021

Net Income

Down

-$32,475

Down $54,950 (-244%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2015: $6,666Liabilities 2015: $02015Assets 2016: $14,440Liabilities 2016: $0Net Assets 2016: $14,4402016Assets 2017: $228,373Liabilities 2017: $0Net Assets 2017: $228,3732017Assets 2018: $251,027Liabilities 2018: $0Net Assets 2018: $251,0272018Assets 2019: $443,935Liabilities 2019: $0Net Assets 2019: $443,9352019Assets 2020: $418,120Liabilities 2020: $0Net Assets 2020: $418,1202020Assets 2021: $440,595Liabilities 2021: $0Net Assets 2021: $440,5952021Assets 2022: $309,155Liabilities 2022: $162,035Net Assets 2022: $147,1202022Assets 2023: $377,046Liabilities 2023: $25,745Net Assets 2023: $351,3012023Assets 2024: $327,663Liabilities 2024: $14,006Net Assets 2024: $313,6572024

Highlighted filing

2022

Assets$309,155
Liabilities$162,035
Net Assets$147,120
Open 2022 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $112,600Expenses 2015: $105,934Net Income 2015: $6,6662015Revenue 2016: $272,185Expenses 2016: $264,411Net Income 2016: $7,7742016Revenue 2017: $519,594Expenses 2017: $305,661Net Income 2017: $213,9332017Revenue 2018: $550,667Expenses 2018: $528,013Net Income 2018: $22,6542018Revenue 2019: $1,052,673Expenses 2019: $853,891Net Income 2019: $198,7822019Revenue 2020: $1,315,306Expenses 2020: $1,250,591Net Income 2020: $64,7152020Revenue 2021: $1,649,948Expenses 2021: $1,627,473Net Income 2021: $22,4752021Revenue 2022: $1,797,877Expenses 2022: $1,830,352Net Income 2022: -$32,4752022Revenue 2023: $2,020,161Expenses 2023: $1,815,980Net Income 2023: $204,1812023Revenue 2024: $1,673,338Expenses 2024: $1,712,482Net Income 2024: -$39,1442024

Highlighted filing

2022

Revenue$1,797,877
Expenses$1,830,352
Net Income-$32,475
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 20, 2023
Return Version
2021v4.0
Gross Receipts
$1,836,573
Mission and Program Overview

Mission

Our goal is to provide an equal opportunity to achieve the american dream through the completion of a college education by providing direct payment scholarships to education institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$440,595$307,497▼ $133,098
Prepaid Expenses and Deferred Charges-$1,658-
Total Assets$440,595$309,155▼ $131,440
Liabilities
Accounts Payable and Accrued Expenses-$162,035-
Total Liabilities$0$162,035▲ $162,035
Net Assets / Fund Balance
Net Assets With Donor Restrictions$326,299$83,539▼ $242,760
Net Assets Without Donor Restrictions$114,296$63,581▼ $50,715
Total Net Assets Fund Balance$440,595$147,120▼ $293,475
Total Liabilities and Net Assets / Fund Balance$440,595$309,155▼ $131,440
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Molly HaynesExecutive DiFT$83,125$83,125

Board Members and Trustees

NameTitle
Kristin McgranerChairman
Charles Robert BonePresident
Angela TilleryDirector
Dave MahanesDirector
George GarrettDirector
Greg DailyDirector
Jackie ShragoDirector
James MunroDirector
Jay JoynerDirector
John Sam HatcherDirector
Kenyatta LovettDirector
Kevin SivaneriDirector
Michael SpaldingDirector
Monica CintadoDirector
Neil KrugmanDirector
Patricia Wiseman MunroDirector
Raquel OluyemoDirector
Raymond PirtleDirector
Richard RhodaDirector
Saghi AsgarifarDirector
Trey LipmanDirector
Robert BoneSecretary
William CrenshawTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,759,331
Program Service Revenue
$0
Investment Income
$73
Other Revenue
$38,473
All Other Contributions
$1,669,331
Change in Net Assets
$-32,475

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,797,877
Revenue Not Reported on Form 990
$4,399,992
Total Revenue per Audited Statements
$6,197,869
Total Revenue per Form 990
$1,797,877
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,559,637
Salaries, Compensation, and Employee Benefits$203,272
Total Fundraising Expense$104,099
Other Expenses$67,443
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,559,637--$1,559,637
Other Salaries and Wages$31,322$35,411$38,846$105,579
Current Officers, Directors, Trustees, and Key Employees$24,660$27,880$30,585$83,125
Payroll Taxes$4,322$4,886$5,360$14,568
Advertising$3,613-$9,215$12,828
Conferences and Meetings--$12,302$12,302
Office Expenses$1,380$5,825$4,907$12,112
Fees for Services Accounting$1,105$10,447$323$11,875
Fees for Services Other$945$8,928$277$10,150
Travel$5,241-$1,538$6,779
Other Expenses-$319$746$1,065
Insurance-$332-$332
Total Functional Expenses$1,632,225$94,028$104,099$1,830,352

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,230,344
Expenses Not Reported on Form 990$4,399,992
Expenses per Audited Statements$1,830,352
Total Expenses per Form 990$1,830,352
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$77,169
Fundraising Direct Expenses$38,696
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Evening of Conv$153,135$63,135$9,423$53,712
Salsa for Schol$14,034$14,034$1,370$12,664
Total Events$167,169$77,169$38,696$38,473
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Michael spalding, md william crenshaw director treasurer family relationship james munro patricia wiseman munro director director family relationship”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is thoroughly reviewed by president and chairman, executive director, and treasurer and is shared with the entire board for review prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“The compensation of the executive director is determined by the executive committee. Salary is set based on comparable compensations, and the board approves the executive director's compensation through the budget process.”

Form 990, Page 6, Part VI, Line 15B

“Compensation for other employees of the organization is set by the executive director and approved by the board through the budget process.”

Form 990, Page 6, Part VI, Line 19

“The documents are made available upon request and are available on givingmatters.com.”

Filing and Contact Details

Filer

Filer Name
Equal Chance for Education
EIN
46-4528066
Phone
7132087595
Address
73 WHITE BRIDGE RD 103 BOX 351, NASHVILLE, TN 37205

Signing Officer

Name
Molly Haynes
Title
Executive Director
Phone
6152188585
Signed
2023-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Molly Haynes
Formed
2014
Legal Domicile
Tn
Voting Board Members
23
Independent Board Members
23
Employees
3
Volunteers
109

Preparer

Firm
Blankenship CPA Group Pllc
Address
215 WARD CIRCLE, BRENTWOOD, TN 37027-2304
Preparer
Abigail L Campbell CPA
Phone
6153733771
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Change in accounting method -261,000 in the prior year, the organization reported under the cash basis of accounting. In transitioning from the cash to accrual basis of accounting, the organization recorded a 261,000 decrease in net assets as of july 1, 2021 due to the payment timing of tuition expenses.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a not-for-profit organization exempt from income taxes under section 501(c)(3) of the internal revenue code, and is classified by the internal revenue service as other than a private foundation. The organization is subject to routine audits by taxing jurisdictions from 2018 to the present; however, there are currently no audits for any tax periods in progress.”

Schedule D, Page 4, Part XIII

“The organization enters into agreements with universities to offer students heavily discounted tuition at the universities. The student pays a small portion to the organization, the organization pays that amount along with an amount from the organization to the university. The remainder is then donated to the organization by the universities. This is recognized as a contribution and tuition expense on the books of the organization. The discounted tuition amount is reported as donated services on the form 990.”

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IRS990/MissionDesc0OUR GOAL IS TO PROVIDE AN EQUAL OPPORTUNITY TO ACHIEVE THE AMERICAN DREAM THROUGH THE COMPLETION OF A COLLEGE EDUCATION BY PROVIDING DIRECT PAYMENT SCHOLARSHIPS TO EDUCATION INSTITUTIONS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS FROM 2018 TO THE PRESENT; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ENTERS INTO AGREEMENTS WITH UNIVERSITIES TO OFFER STUDENTS HEAVILY DISCOUNTED TUITION AT THE UNIVERSITIES. THE STUDENT PAYS A SMALL PORTION TO THE ORGANIZATION, THE ORGANIZATION PAYS THAT AMOUNT ALONG WITH AN AMOUNT FROM THE ORGANIZATION TO THE UNIVERSITY. THE REMAINDER IS THEN DONATED TO THE ORGANIZATION BY THE UNIVERSITIES. THIS IS RECOGNIZED AS A CONTRIBUTION AND TUITION EXPENSE ON THE BOOKS OF THE ORGANIZATION. THE DISCOUNTED TUITION AMOUNT IS REPORTED AS DONATED SERVICES ON THE FORM 990.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$309,155
Liabilities
$162,035
Net assets
$147,120
Revenue
$1,797,877
Expenses
$1,830,352
Net income
-$32,475
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.01$0.31$1.67$1.71$0.04
2023Summary only. Only limited summary data is available for this year.$0.38$0.03$0.35$2.02$1.82$0.20
2022Detailed filing. Detailed filing data is available for this year.$0.31$0.16$0.15$1.80$1.83$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.00$0.44$1.65$1.63$0.02
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.00$0.42$1.32$1.25$0.06
2019Summary only. Only limited summary data is available for this year.$0.44$0.00$0.44$1.05$0.85$0.20
2018Summary only. Only limited summary data is available for this year.$0.25$0.00$0.25$0.55$0.53$0.02
2017Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.52$0.31$0.21
2016Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.27$0.26$0.01
2015Summary only. Only limited summary data is available for this year.$0.01$0.00$0.11$0.11$0.01
Peer Organizations

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