Civic Intelligence

The Foundation for Research on Equal Opportunity

990 • Fiscal year 2021 • EIN 81-2699310

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization ProfileFREOPP.ORG
201 West 5th St 1100Austin, TX 78701

(512) 840-1491

Siviq Scores

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

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

0.04x

Higher debt load relative to revenue than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

69th percentile

25%

Higher net margin than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

94th percentile

$264,900

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 17.9% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

96th percentile

176%

Faster asset growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

76th percentile

50%

Faster revenue growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$624,869

Up $398,478 (+176%) from 2020

Net Assets

Up

$561,711

Up $370,788 (+194%) from 2020

Liabilities

Up

$63,158

Up $27,690 (+78%) from 2020

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin69th percentile

Revenue

Up

$1,480,083

Up $492,410 (+50%) from 2020

Expenses

Up

$1,109,295

Up $162,357 (+17%) from 2020

Net Income

Up

$370,788

Up $330,053 (+810%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $122,820Liabilities 2016: $0Net Assets 2016: $122,8202016Assets 2017: $487,396Liabilities 2017: $3,891Net Assets 2017: $483,5052017Assets 2018: $232,549Liabilities 2018: $76,769Net Assets 2018: $155,7802018Assets 2019: $158,479Liabilities 2019: $8,292Net Assets 2019: $150,1872019Assets 2020: $226,391Liabilities 2020: $35,468Net Assets 2020: $190,9232020Assets 2021: $624,869Liabilities 2021: $63,158Net Assets 2021: $561,7112021Assets 2022: $912,359Liabilities 2022: $77,829Net Assets 2022: $834,5302022Assets 2023: $1,772,889Liabilities 2023: $352,631Net Assets 2023: $1,420,2582023Assets 2024: $854,952Liabilities 2024: $0Net Assets 2024: $854,9522024

Highlighted filing

2021

Assets$624,869
Liabilities$63,158
Net Assets$561,711
Open 2021 Filing

Operations Trend

Revenue Growth76th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $175,000Expenses 2016: $52,180Net Income 2016: $122,8202016Revenue 2017: $743,010Expenses 2017: $382,325Net Income 2017: $360,6852017Revenue 2018: $388,644Expenses 2018: $716,369Net Income 2018: -$327,7252018Revenue 2019: $827,231Expenses 2019: $832,824Net Income 2019: -$5,5932019Revenue 2020: $987,673Expenses 2020: $946,938Net Income 2020: $40,7352020Revenue 2021: $1,480,083Expenses 2021: $1,109,295Net Income 2021: $370,7882021Revenue 2022: $2,038,270Expenses 2022: $1,765,451Net Income 2022: $272,8192022Revenue 2023: $3,248,169Expenses 2023: $2,662,441Net Income 2023: $585,7282023Revenue 2024: $3,078,799Expenses 2024: $2,550,142Net Income 2024: $528,6572024

Highlighted filing

2021

Revenue$1,480,083
Expenses$1,109,295
Net Income$370,788
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$1,480,083
Mission and Program Overview

Mission

The foundation for research on equal opportunity conducts original research on expanding economic opportunity to those who least have it. Freopp is committed to deploying the nation's leading scholars and the tools of individual liberty, free enterprise, and (cont. On sch o) technological innovation to serve this mission. All research conducted by freopp considers the impact of public policies and proposed reforms on those with incomes or wealth below the u.s. Median.

The foundation for research on equal opportunity conducts original research on (cont. On sch o) expanding economic opportunity to those who least have it. Freopp is committed to deploying the nation's leading scholars and the tools of individual liberty, free enterprise, technological innovation, and pluralism to serve this mission. All research conducted by freopp considers the impact of public policies and proposed reforms on those with incomes or wealth below the u.s. Median.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$205,863$268,229▲ $62,366
Prepaid Expenses and Deferred Charges$20,013$19,915▼ $98
Land, Buildings, and Equipment, Net$515$6,780▲ $6,265
Total Assets$226,391$624,869▲ $398,478
Other Assets Total$0$329,945▲ $329,945
Liabilities
Accounts Payable and Accrued Expenses$35,468$63,158▲ $27,690
Total Liabilities$35,468$63,158▲ $27,690
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$190,923$561,711▲ $370,788
Net Assets With Donor Restrictions-$0-
Total Net Assets Fund Balance$190,923$561,711▲ $370,788
Total Liabilities and Net Assets / Fund Balance$226,391$624,869▲ $398,478

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,780$454-
Other Assets Org$329,945--
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
Jonathan BushChairman of the Board
Avik RoyPresident / Board Member
Ames BrownBoard Member
Lanhee ChenBoard Member
Michael MiltenbergerBoard Member
Vivek RamaswamyBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,468,281
Program Service Revenue
$0
Investment Income
$11,802
Other Revenue
$0
All Other Contributions
$1,468,281
Change in Net Assets
$370,788

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,480,083
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,480,083
Total Revenue per Form 990
$1,480,083
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$615,787
Other Expenses$493,508
Total Fundraising Expense$242,240
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$350,312$59,739$103,797$513,848
Fees for Services Other$131,652$74,987$86,084$292,723
Occupancy-$82,569-$82,569
Travel$46,434$1,082$20,769$68,285
Other Employee Benefits$41,771$12,171$11,062$65,004
Payroll Taxes$23,779$5,182$7,974$36,935
Office Expenses$1,115$3,701$30$4,846
Insurance-$3,122-$3,122
Other Expenses$0$0$2,051$2,051
All Other Expenses$409$565-$974
Depreciation Depletion-$386-$386
Total Functional Expenses$603,414$263,641$242,240$1,109,295

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,109,295
Total Expenses per Audited Statements$1,109,295
Total Expenses per Form 990$1,109,295
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
Yes
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 organization provides a copy of the 990 to all board members, and only submits after approval by the board.”

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

“In accordance with the terms of our conflict of interest policy, members of the board of directors review and sign an annual statement regarding conflicts of interest policy.”

Form 990, Part VI, Section B, Line 15

“A compensation committee of the board of directors, consisting entirely of independent directors, reviews executive compensation at similar organizations. It uses these submittals as a basis for determining executive compensation. The compensation committee as well as the full board of directors approves executive employment agreements as appropriate.”

Form 990, Part VI, Section C, Line 19

“Governing documents including current bylaws, conflict of interest disclosures, whistleblower protection policy, executive compensation review, and document retention policy are available on our website, freopp.org and additionally, upon request.”

Filing and Contact Details

Filer

Filer Name
The Foundation for Research on Equal
EIN
81-2699310
Phone
5128401491
Address
201 WEST 5TH ST 1100, AUSTIN, TX 78701

Signing Officer

Name
Avik Roy
Title
President
Phone
5128401491
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Avik Roy
Formed
2016
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
D K Weiss Holt & Associates Pllc
Address
4660 N BRETON COURT SUITE 102, KENTWOOD, MI 49508
Preparer
Dennis K Weiss CPA
Phone
6168711233
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants & service providers: program service expenses 131,652. Management and general expenses 74,987. Fundraising expenses 86,084. Total expenses 292,723.”

Raw XML AppendixShowing 400 of 453 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES A COPY OF THE 990 TO ALL BOARD MEMBERS, AND ONLY SUBMITS AFTER APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN ACCORDANCE WITH THE TERMS OF OUR CONFLICT OF INTEREST POLICY, MEMBERS OF THE BOARD OF DIRECTORS REVIEW AND SIGN AN ANNUAL STATEMENT REGARDING CONFLICTS OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, CONSISTING ENTIRELY OF INDEPENDENT DIRECTORS, REVIEWS EXECUTIVE COMPENSATION AT SIMILAR ORGANIZATIONS. IT USES THESE SUBMITTALS AS A BASIS FOR DETERMINING EXECUTIVE COMPENSATION. THE COMPENSATION COMMITTEE AS WELL AS THE FULL BOARD OF DIRECTORS APPROVES EXECUTIVE EMPLOYMENT AGREEMENTS AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS INCLUDING CURRENT BYLAWS, CONFLICT OF INTEREST DISCLOSURES, WHISTLEBLOWER PROTECTION POLICY, EXECUTIVE COMPENSATION REVIEW, AND DOCUMENT RETENTION POLICY ARE AVAILABLE ON OUR WEBSITE, FREOPP.ORG AND ADDITIONALLY, UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTANTS & SERVICE PROVIDERS: PROGRAM SERVICE EXPENSES 131,652. MANAGEMENT AND GENERAL EXPENSES 74,987. FUNDRAISING EXPENSES 86,084. TOTAL EXPENSES 292,723.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/StatesWhereCopyOfReturnIsFldCd31SC
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IRS990/StatesWhereCopyOfReturnIsFldCd33UT
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IRS990/StatesWhereCopyOfReturnIsFldCd35WA
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$624,869
Liabilities
$63,158
Net assets
$561,711
Revenue
$1,480,083
Expenses
$1,109,295
Net income
$370,788
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.00$0.85$3.08$2.55$0.53
2023Detailed filing. Detailed filing data is available for this year.$1.77$0.35$1.42$3.25$2.66$0.59
2022Detailed filing. Detailed filing data is available for this year.$0.91$0.08$0.83$2.04$1.77$0.27
2021Detailed filing. Detailed filing data is available for this year.$0.62$0.06$0.56$1.48$1.11$0.37
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.04$0.19$0.99$0.95$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.16$0.01$0.15$0.83$0.83$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.23$0.08$0.16$0.39$0.72$0.33
2017Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.48$0.74$0.38$0.36
2016Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.18$0.05$0.12