Civic Intelligence

Equal Chance for Education

990 • Fiscal year 2024 • EIN 46-4528066

Jul 01, 2023 to Jun 30, 2024 • Filed on May 14, 2025

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

46th percentile

0.04x

Higher debt load relative to assets than 46% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

33rd percentile

-2.3%

Higher net margin than 33% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

44th percentile

$30,000

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

12th percentile

-13%

Faster asset growth than 12% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

16th percentile

-17%

Faster revenue growth than 16% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$327,663

Down $49,383 (-13%) from 2023

Net Assets

Down

$313,657

Down $37,644 (-11%) from 2023

Liabilities

Down

$14,006

Down $11,739 (-46%) from 2023

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin33rd percentile

Revenue

Down

$1,673,338

Down $346,823 (-17%) from 2023

Expenses

Down

$1,712,482

Down $103,498 (-5.7%) from 2023

Net Income

Down

-$39,144

Down $243,325 (-119%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2024

Assets$327,663
Liabilities$14,006
Net Assets$313,657
Open 2024 Filing

Operations Trend

Revenue Growth16th 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

2024

Revenue$1,673,338
Expenses$1,712,482
Net Income-$39,144
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$1,710,811
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$362,700$279,913▼ $82,787
Accounts Receivable$12,500$47,750▲ $35,250
Prepaid Expenses and Deferred Charges$1,658--
Investments in Publicly Traded Securities$188--
Total Assets$377,046$327,663▼ $49,383
Liabilities
Accounts Payable and Accrued Expenses$25,745$14,006▼ $11,739
Total Liabilities$25,745$14,006▼ $11,739
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$293,719$268,575▼ $25,144
Net Assets With Donor Restrictions$57,582$45,082▼ $12,500
Total Net Assets Fund Balance$351,301$313,657▼ $37,644
Total Liabilities and Net Assets / Fund Balance$377,046$327,663▼ $49,383
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Raquel OluyemoExecutive DiPT$30,000$30,000

Board Members and Trustees

NameTitle
Richard RhodaBoard Chair
Neil KrugmanVice Chairme
Angela TilleryDirector
Charles Robert BoneDirector
Dave MahanesDirector
Evila MelgozaDirector
George GarrettDirector
Greg DailyDirector
James MunroDirector
Jay JoynerDirector
Jimmy SpradleyDirector
John Sam HatcherDirector
Monica CintadoDirector
Patricia Wiseman MunroDirector
Shirley SpeyerDirector
Matthew AshwoodDevelopment
Michael SpaldingFounder
Saghi AsgarifarSecretary
Edmundo CepedaTreasurer
Ross GlotzbachWest Divisio
Revenue and Support

Revenue Composition

Contributions and Grants
$1,644,559
Program Service Revenue
$0
Investment Income
$14,928
Other Revenue
$13,851
All Other Contributions
$1,644,559
Change in Net Assets
$-39,144

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,673,338
Revenue Not Reported on Form 990
$4,694,254
Total Revenue per Audited Statements
$6,367,592
Total Revenue per Form 990
$1,673,338
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,387,434
Salaries, Compensation, and Employee Benefits$225,927
Total Fundraising Expense$126,821
Other Expenses$99,121
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,387,434--$1,387,434
Other Salaries and Wages$69,880$40,867$69,125$179,872
Current Officers, Directors, Trustees, and Key Employees$11,655$6,816$11,529$30,000
Fees for Services Accounting$1,293$14,550$8,407$24,250
Fees for Services Other$862$9,698$5,604$16,164
Payroll Taxes$6,237$3,648$6,170$16,055
Conferences and Meetings$4,806-$7,094$11,900
Travel$4,508-$6,653$11,161
Occupancy$2,956$3,222$2,956$9,134
Office Expenses$85$1,603$7,362$9,050
Information Technology$5,788$2,082$789$8,659
Advertising$3,862$1,389$526$5,777
Insurance-$1,658-$1,658
Other Expenses$15$504$606$1,125
Interest-$243-$243
Total Functional Expenses$1,499,381$86,280$126,821$1,712,482

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,405,236
Expenses Not Reported on Form 990$4,692,754
Expenses per Audited Statements$1,712,482
Total Expenses per Form 990$1,712,482
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$51,324
Fundraising Direct Expenses$37,473
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Evening of Conv$51,324$51,324$37,473$13,851
Total Events$51,324$51,324$37,473$13,851
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 president 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
Raquel Oluyemo
Title
Executive Director
Phone
6156365781
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Blankenship CPA Group Pllc
Address
101 WINNERS CIRCLE, BRENTWOOD, TN 37027
Preparer
Scott a Felts CPA
Phone
6153733771
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Fundraising expenses 37,473 fundraising expenses -37,473”

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 2021 to the present; however, there are currently no audits for any tax periods in progress.”

Schedule D, Page 4, Part XI, Line 2D

“Fundraising expenses 37,473”

Schedule D, Page 4, Part XII, Line 2D

“Fundraising expenses 37,473”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE CHAIRME
IRS990/Form990PartVIISectionAGrp/TitleTxt10WEST DIVISIO
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16FOUNDER
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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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 2021 TO THE PRESENT; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 37,473
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$327,663
Liabilities
$14,006
Net assets
$313,657
Revenue
$1,673,338
Expenses
$1,712,482
Net income
-$39,144
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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