Civic Intelligence

Economic Opportunity Foundation Inc.

990 • Fiscal year 2023 • EIN 48-6120518

Apr 01, 2022 to Mar 31, 2023 • Filed on Feb 09, 2024

950 Quindaro BlvdKansas City, KS 66109

(913) 371-7800

Siviq Scores

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

Liabilities / Assets

80th percentile

0.30x

Higher debt load relative to assets than 80% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.12x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$78,829

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

91st percentile

76%

Faster asset growth than 91% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

50th percentile

7.6%

Faster revenue growth than 50% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$367,147

Up $158,774 (+76%) from 2022

Net Assets

Up

$256,109

Up $167,324 (+188%) from 2022

Liabilities

Down

$111,038

Down $8,550 (-7.1%) from 2022

Revenue

Up

$930,580

Up $66,098 (+7.6%) from 2022

Expenses

Down

$763,246

Down $60,597 (-7.4%) from 2022

Net Income

Up

$167,334

Up $126,695 (+312%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2012: $828,996Liabilities 2012: $307,419Net Assets 2012: $521,5772012Assets 2013: $812,172Liabilities 2013: $314,915Net Assets 2013: $497,2572013Assets 2014: $137,060Liabilities 2014: $27,555Net Assets 2014: $109,5052014Assets 2015: $139,166Liabilities 2015: $70,453Net Assets 2015: $68,7132015Assets 2016: $99,941Liabilities 2016: $44,110Net Assets 2016: $55,8312016Assets 2017: $134,683Liabilities 2017: $67,565Net Assets 2017: $67,1172017Assets 2018: $83,021Liabilities 2018: $21,011Net Assets 2018: $62,0102018Assets 2019: $141,554Liabilities 2019: $68,649Net Assets 2019: $72,9052019Assets 2020: $136,450Liabilities 2020: $70,882Net Assets 2020: $65,5682020Assets 2021: $229,403Liabilities 2021: $181,667Net Assets 2021: $47,7362021Assets 2022: $208,373Liabilities 2022: $119,588Net Assets 2022: $88,7852022Assets 2023: $367,147Liabilities 2023: $111,038Net Assets 2023: $256,1092023Assets 2024: $353,347Liabilities 2024: $100,161Net Assets 2024: $253,1862024Assets 2025: $319,730Liabilities 2025: $141,006Net Assets 2025: $178,7242025

Highlighted filing

2023

Assets$367,147
Liabilities$111,038
Net Assets$256,109

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $6,659,552Expenses 2012: $6,581,671Net Income 2012: $77,8812012Revenue 2013: $6,711,650Expenses 2013: $6,735,970Net Income 2013: -$24,3202013Revenue 2014: $2,756,694Expenses 2014: $2,824,448Net Income 2014: -$67,7542014Revenue 2015: $435,921Expenses 2015: $476,713Net Income 2015: -$40,7922015Revenue 2016: $449,192Expenses 2016: $462,078Net Income 2016: -$12,8862016Revenue 2017: $512,375Expenses 2017: $501,089Net Income 2017: $11,2862017Revenue 2018: $439,016Expenses 2018: $444,123Net Income 2018: -$5,1072018Revenue 2019: $476,395Expenses 2019: $465,500Net Income 2019: $10,8952019Revenue 2020: $527,485Expenses 2020: $534,822Net Income 2020: -$7,3372020Revenue 2021: $747,633Expenses 2021: $765,465Net Income 2021: -$17,8322021Revenue 2022: $864,482Expenses 2022: $823,843Net Income 2022: $40,6392022Revenue 2023: $930,580Expenses 2023: $763,246Net Income 2023: $167,3342023Revenue 2024: $650,221Expenses 2024: $653,144Net Income 2024: -$2,9232024Revenue 2025: $519,574Expenses 2025: $594,036Net Income 2025: -$74,4622025

Highlighted filing

2023

Revenue$930,580
Expenses$763,246
Net Income$167,334
Jump To
Filing Snapshot
Filing Period
Apr 1, 2022 to Mar 31, 2023
Signed
Feb 9, 2024
Return Version
2022v5.0
Gross Receipts
$930,580
Mission and Program Overview

Mission

The economic opportunity foundation is a non-for-profit community action agency whose mission is to mobilize necessary resources to address the causes and conditions of poverty in wyandotte county to assist low-income residents in moving towards self-sufficiency.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$201,406$286,297▲ $84,891
Land, Buildings, and Equipment, Net$4,837$70,648▲ $65,811
Pledges and Grants Receivable-$6,997-
Prepaid Expenses and Deferred Charges$2,130$3,205▲ $1,075
Total Assets$208,373$367,147▲ $158,774
Liabilities
Deferred Revenue$107,102$91,253▼ $15,849
Accounts Payable and Accrued Expenses$12,496$19,785▲ $7,289
Total Liabilities$119,598$111,038▼ $8,560
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$88,775$256,109▲ $167,334
Total Net Assets Fund Balance$88,775$256,109▲ $167,334
Total Liabilities and Net Assets / Fund Balance$208,373$367,147▲ $158,774

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$70,648$34,733$105,381
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rita D AdamsExecutive DirectorFT$78,829$78,829

Board Members and Trustees

NameTitle
Richard MabionBoard President
Ondra PennBoard Secretary
Scott MackeyBoard Treasurer
Henry Hank ChamberlainTrustee
Jacques BarberTrustee
Marvin RobinsonTrustee
Senator David HayleyTrustee
Yvonne BrownTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$775,748
Program Service Revenue
$58,992
Investment Income
$95,840
Other Revenue
$0
All Other Contributions
$18,014
Change in Net Assets
$167,334

Audited Revenue Reconciliation

Revenue per Audited Statements
$930,580
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$930,580
Total Revenue per Form 990
$930,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$318,978
Grants and Similar Amounts Paid$291,056
Other Expenses$153,212
Total Fundraising Expense$18,207
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$291,056--$291,056
Other Salaries and Wages$162,976$36,856$10,518$210,350
Current Officers, Directors, Trustees, and Key Employees$61,492$13,906$3,968$79,366
Travel$36,093$222-$36,315
Payroll Taxes$23,092$4,707$1,463$29,262
Insurance$18,551$344$994$19,889
Occupancy$13,931$475$758$15,164
Depreciation Depletion$8,606$1,012$506$10,124
Fees for Services Other$7,316$147-$7,463
Information Technology$1,784$2,367-$4,151
Office Expenses$1,174$754-$1,928
Other Expenses$1,405--$1,405
Total Functional Expenses$684,249$60,790$18,207$763,246

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$763,246
Total Expenses per Audited Statements$763,246
Total Expenses per Form 990$763,246
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is distributed to the board of trustees at its regularly scheduled meeting prior to the submission date. The board president reviews and signs the form and required schedules to ensure accuracy and timely submission.

Form 990, Part VI, Section B, Line 12C

Article iii, section of economic opportunity foundation's bylaws outline a basic conflict of interest policy that applies to members of the board of trustees. Trustees abstain from participating in board action whenever a potential conflict arises. The ad hoc recusals are reflected in board and committee minutes as appropriate.

Form 990, Part VI, Section B, Line 15

All economic opportunity foundation staff are reviewed annually to assess performance towards work duties and established goals. The executive director is responsible for the employee reviews and the board of trustees is responsible for the executive director review. Performance evaluations are maintained in the employee personnel file. Additionally, a wage comparability study has been completed by eof staff and hr wage/benefits consultants. This study along with the annual performance evaluations are used by executive director (for employees)and the board of trustees (for the executive director) are used to recommend employee salaries. All employee salaries are formally approved by the board of trustees each year at a board meeting.

Form 990, Part VI, Section C, Line 19

All information is available upon request of the organization, and a limited number of documents are available as free file downloads from the organization's website - www.eofkck.org

Filing and Contact Details

Filer

Filer Name
Economic Opportunity Foundation Inc
EIN
48-6120518
Phone
9133717800
Address
950 QUINDARO BLVD, KANSAS CITY, KS 66109

Signing Officer

Name
Rita D Adams
Title
Executive Director
Phone
9133717800
Signed
2024-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rita D Adams
Formed
1965
Legal Domicile
Ks
Voting Board Members
8
Independent Board Members
8
Employees
6
Volunteers
13

Preparer

Firm
Marr and Company Pc
Address
1401 EAST 104TH STREET SUITE 100, KANSAS CITY, MO 64131
Preparer
Jason D Louk
Phone
8163638700
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Economic opportunity foundation, inc. Qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code (irc) and is not a private foundation as defined under irc section 509(a). The organization has adopted the provisions of the fasb asc 740-10 as it might apply to the organization's financial transactions. The organization's policy is to record a liability for any tax position that is beneficial to the organization, including any related interest and penalties, when it is more likely than not the position taken by management with respect to the transaction or class of transactions will be overturned by a taxing authority upon examination. The organization's management believes there are no such positions as of march 31, 2023 and, accordingly, no liability has been accrued.

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IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE EXPENSES
IRS990/OtherExpensesGrp/Desc2REGISTRATIONS, DUES & S
IRS990/OtherExpensesGrp/Desc3TAXES & LICENSES
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IRS990/OtherExpensesGrp/ProgramServicesAmt118449
IRS990/OtherExpensesGrp/ProgramServicesAmt27929
IRS990/OtherExpensesGrp/ProgramServicesAmt31405
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0162976
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IRS990/OtherWebsiteInd0X
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04707
IRS990/PayrollTaxesGrp/ProgramServicesAmt023092
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt06997
IRS990/PoliticalCampaignActyInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/TotalSupportAmt03335247
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt070648
IRS990ScheduleD/EquipmentGrp/DepreciationAmt034733
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0105381
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0930580
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ECONOMIC OPPORTUNITY FOUNDATION, INC. QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS NOT A PRIVATE FOUNDATION AS DEFINED UNDER IRC SECTION 509(A). THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF THE FASB ASC 740-10 AS IT MIGHT APPLY TO THE ORGANIZATION'S FINANCIAL TRANSACTIONS. THE ORGANIZATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION THAT IS BENEFICIAL TO THE ORGANIZATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO THE TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. THE ORGANIZATION'S MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF MARCH 31, 2023 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0763246
IRS990ScheduleD/TotalRevenuePerForm990Amt0930580
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0930580
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IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0291056
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0DIRECT CUSTOMER SUPPORT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0627
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS DISTRIBUTED TO THE BOARD OF TRUSTEES AT ITS REGULARLY SCHEDULED MEETING PRIOR TO THE SUBMISSION DATE. THE BOARD PRESIDENT REVIEWS AND SIGNS THE FORM AND REQUIRED SCHEDULES TO ENSURE ACCURACY AND TIMELY SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ARTICLE III, SECTION OF ECONOMIC OPPORTUNITY FOUNDATION'S BYLAWS OUTLINE A BASIC CONFLICT OF INTEREST POLICY THAT APPLIES TO MEMBERS OF THE BOARD OF TRUSTEES. TRUSTEES ABSTAIN FROM PARTICIPATING IN BOARD ACTION WHENEVER A POTENTIAL CONFLICT ARISES. THE AD HOC RECUSALS ARE REFLECTED IN BOARD AND COMMITTEE MINUTES AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL ECONOMIC OPPORTUNITY FOUNDATION STAFF ARE REVIEWED ANNUALLY TO ASSESS PERFORMANCE TOWARDS WORK DUTIES AND ESTABLISHED GOALS. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR THE EMPLOYEE REVIEWS AND THE BOARD OF TRUSTEES IS RESPONSIBLE FOR THE EXECUTIVE DIRECTOR REVIEW. PERFORMANCE EVALUATIONS ARE MAINTAINED IN THE EMPLOYEE PERSONNEL FILE. ADDITIONALLY, A WAGE COMPARABILITY STUDY HAS BEEN COMPLETED BY EOF STAFF AND HR WAGE/BENEFITS CONSULTANTS. THIS STUDY ALONG WITH THE ANNUAL PERFORMANCE EVALUATIONS ARE USED BY EXECUTIVE DIRECTOR (FOR EMPLOYEES)AND THE BOARD OF TRUSTEES (FOR THE EXECUTIVE DIRECTOR) ARE USED TO RECOMMEND EMPLOYEE SALARIES. ALL EMPLOYEE SALARIES ARE FORMALLY APPROVED BY THE BOARD OF TRUSTEES EACH YEAR AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL INFORMATION IS AVAILABLE UPON REQUEST OF THE ORGANIZATION, AND A LIMITED NUMBER OF DOCUMENTS ARE AVAILABLE AS FREE FILE DOWNLOADS FROM THE ORGANIZATION'S WEBSITE - WWW.EOFKCK.ORG
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0KS
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0208373
IRS990/TotalAssetsGrp/EOYAmt0367147
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0775748
IRS990/TotalEmployeeCnt06
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060790
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0684249
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IRS990/TotalProgramServiceRevenueAmt058992
IRS990/TotalReportableCompFromOrgAmt078829
IRS990/TotalRevenueGrp/ExclusionAmt095840
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt058992
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IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0208373
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0222
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IRS990/TravelGrp/TotalAmt036315
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0950 QUINDARO BLVD
IRS990/USAddress/CityNm0KANSAS CITY
IRS990/USAddress/StateAbbreviationCd0KS
IRS990/USAddress/ZIPCd066109
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.EOFKCK.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RITA D ADAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09133717800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ECONOMIC OPPORTUNITY FOUNDATION INC

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.32$0.14$0.18$0.52$0.59$0.07
2024Detailed filing. Detailed filing data is available for this year.$0.35$0.10$0.25$0.65$0.65$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.37$0.11$0.26$0.93$0.76$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.21$0.12$0.09$0.86$0.82$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.18$0.05$0.75$0.77$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.14$0.07$0.07$0.53$0.53$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.14$0.07$0.07$0.48$0.47$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.08$0.02$0.06$0.44$0.44$0.01
2017Summary only. Only limited summary data is available for this year.$0.13$0.07$0.07$0.51$0.50$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.04$0.06$0.45$0.46$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.14$0.07$0.07$0.44$0.48$0.04
2014Summary only. Only limited summary data is available for this year.$0.14$0.03$0.11$2.76$2.82$0.07
2013Summary only. Only limited summary data is available for this year.$0.81$0.31$0.50$6.71$6.74$0.02
2012Summary only. Only limited summary data is available for this year.$0.83$0.31$0.52$6.66$6.58$0.08