Civic Intelligence

Requity Foundation Inc.

990 • Fiscal year 2023 • EIN 84-5001046

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

20 S Madeira StBaltimore, MD 21231

(646) 249-0437

Siviq Scores

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

Liabilities / Assets

61st percentile

0.00x

Higher debt load relative to assets than 61% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

63rd percentile

0.00x

Higher debt load relative to revenue than 63% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

15th percentile

-29%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

25th percentile

-17%

Faster asset growth than 25% of similar nonprofits.

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

Revenue Growth

9th percentile

-56%

Faster revenue growth than 9% of similar nonprofits.

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

Assets

Down

$336,821

Down $68,530 (-17%) from 2022

Net Assets

Down

$335,993

Down $65,655 (-16%) from 2022

Liabilities

Down

$828

Down $2,875 (-78%) from 2022

Revenue

Down

$230,198

Down $293,093 (-56%) from 2022

Expenses

Up

$296,952

Up $161,110 (+119%) from 2022

Net Income

Down

-$66,754

Down $454,203 (-117%) 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 2022: $405,351Liabilities 2022: $3,703Net Assets 2022: $401,6482022Assets 2023: $336,821Liabilities 2023: $828Net Assets 2023: $335,9932023Assets 2024: $870,316Liabilities 2024: $101,173Net Assets 2024: $769,1432024

Highlighted filing

2023

Assets$336,821
Liabilities$828
Net Assets$335,993

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2022: $523,291Expenses 2022: $135,842Net Income 2022: $387,4492022Revenue 2023: $230,198Expenses 2023: $296,952Net Income 2023: -$66,7542023Revenue 2024: $1,116,810Expenses 2024: $699,249Net Income 2024: $417,5612024

Highlighted filing

2023

Revenue$230,198
Expenses$296,952
Net Income-$66,754
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$230,198
Mission and Program Overview

Mission

To break down barriers between vocational education and the workforce by preparing students to pursue their dreams and build the future they imagine.

To build character, community and careers by cultivating relevant and transferable interpersonal skills, applying classroom lessons to real-world experiences, and creating pathways to equitable employment and thriving careers for all of our students

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$401,648$335,993▼ $65,655
Cash and Non-Interest-Bearing Accounts$337,615$199,726▼ $137,889
Land, Buildings, and Equipment, Net-$12,242-
Inventories for Sale or Use$254--
Total Assets$405,351$336,821▼ $68,530
Other Assets Total$67,482$124,853▲ $57,371
Liabilities
Other Liabilities$3,703$828▼ $2,875
Total Liabilities$3,703$828▼ $2,875
Net Assets / Fund Balance
Total Net Assets Fund Balance$401,648$335,993▼ $65,655
Total Liabilities and Net Assets / Fund Balance$405,351$336,821▼ $68,530

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,242$758$13,000
Other Assets Org$1,900--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sterling HardyCommunicatio
Michael RosenbandExecutive Di
Amy SheininMember at La
Monica BradleySecretary
Stanely ArnoldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$230,198
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-66,754
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$282,728
Salaries, Compensation, and Employee Benefits$14,224
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$88,308$84,613-$172,921
All Other Expenses$15,804$4,282-$20,086
Office Expenses$199$19,037-$19,236
Occupancy-$18,838-$18,838
Other Salaries and Wages$13,213--$13,213
Insurance-$10,446-$10,446
Advertising$923$4,175-$5,098
Travel$3,190$938-$4,128
Other Expenses$4,853$4,125-$4,125
Depreciation Depletion$1,857--$1,857
Fees for Services Accounting-$1,200-$1,200
Payroll Taxes$1,011--$1,011
Total Functional Expenses$146,686$150,266$0$296,952
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$866
Advance$-38
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
No
Other officer compensation reviewed
No
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 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Requity Foundation Inc
EIN
84-5001046
Address
20 S MADEIRA ST, BALTIMORE, MD 21231

Signing Officer

Name
Michael Rosenband
Title
Executive Director
Signed
2024-11-15

Organization Details

Principal Officer
Michael Rosenband
Formed
2020
Voting Board Members
5
Independent Board Members
5
Employees
6

Preparer

Firm
Fred H Burke CPA LLC
Address
925 FELL ST FL 1, BALTIMORE, MD 21231
Preparer
Fred H Burke CPA
Phone
4105630848
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To build character, community and careers by cultivating relevant and transferable interpersonal skills, applying classroom lessons to real-world experiences, and creating pathways to equitable employment and thriving careers for all of our students

Form 990, Page 2, Part III, Line 4A

Carver house: renovations of carver house provide specialty knowledge and work-based learning for students. By applying classroom lessons to authentic work, students in carpentry, electrical, masonry, interactive media, business, and hvac will be trained, experienced, and prepared to join a specialized workforce for the emerging low-carbon emissions building industry through apprenticeship and pathway programs. The carver house program is also aiming to implement a construction standard that produces exceptionally energy efficient, virtually airtight houses where minimum energy is used for heating and cooling, curbing climate-related emissions while saving residents up to ninety percent in heating and utility costs. Utilizing these trade skills will benefit the neighborhood residents through affordable housing and a healthier indoor environment. Sustainable building science will contribute to our environmental focus of reducing emissions from energy consumption and improve storm-water management. Our goal is to produce a skilled and employable construction workforce to satisfy the labor needs in baltimore and beyond. In 2023 work requity continued the renovation of the pilot project, carver house. Students worked with masonry teacher to complete the necessary masonry work in the basement & temporary roof repairs, while the architectural design and permitting were being completed through the state of maryland.

Form 990, Page 2, Part III, Line 4C

Requity culinary: requity culinary aims to offer work-based learning and training for culinary trade students, collaborating with professionals in real-world settings. They recognize the significance of nourishment in building connections among community residents, carver students, and the requity team. Implementing "we all eat wednesdays," requity partners with culinary students to plan, prep, cook, and deliver meals to residents on the 2100 and 2200 blocks of presstman street. Moreover, requity culinary caters for various requity engagements, including biweekly carver faculty meetings and other important events at the requity headquarters. Their efforts aim to harmonize work-based learning with the "food service pro" curriculum, covering professional food preparation, safety, customer service, accounting, cost control, marketing, and inventory. Since october 2023, they've provided over 913 meals to the pleasant presstman community, integrating culinary education with community support.

Form 990, Page 2, Part III, Line 4D

Other program services offered including youth baseball and beautification

Form 990, Part IX, Line 11G

Contractors psa1 21,468 0 0 contractors psa2 10,382 0 0 contractors psa 3 5,185 0 0 contractors - operations 0 84,613 0 contracots - program service 51,273 0 0 total 88,308 84,613 0

Form 990, Part XI, Line 9

Book / tax depreciation difference 1,099

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IRS990/Desc0CARVER HOUSE: RENOVATIONS OF CARVER HOUSE PROVIDE SPECIALTY KNOWLEDGE AND WORK-BASED LEARNING FOR STUDENTS. BY APPLYING CLASSROOM LESSONS TO AUTHENTIC WORK, STUDENTS IN CARPENTRY, ELECTRICAL, MASONRY, INTERACTIVE MEDIA, BUSINESS, AND HVAC WILL BE TRAINED, EXPERIENCED, AND PREPARED TO JOIN A SPECIALIZED WORKFORCE FOR THE EMERGING LOW-CARBON EMISSIONS BUILDING INDUSTRY THROUGH APPRENTICESHIP AND PATHWAY PROGRAMS. THE CARVER HOUSE PROGRAM IS ALSO AIMING TO IMPLEMENT A CONSTRUCTION STANDARD THAT PRODUCES EXCEPTIONALLY ENERGY EFFICIENT, VIRTUALLY AIRTIGHT HOUSES WHERE MINIMUM ENERGY IS USED FOR HEATING AND COOLING, CURBING CLIMATE-RELATED EMISSIONS WHILE SAVING RESIDENTS UP TO NINETY PERCENT IN HEATING AND UTILITY COSTS. UTILIZING THESE TRADE SKILLS WILL BENEFIT THE NEIGHBORHOOD RESIDENTS THROUGH AFFORDABLE HOUSING AND A HEALTHIER INDOOR ENVIRONMENT. SUSTAINABLE BUILDING SCIENCE WILL CONTRIBUTE TO OUR ENVIRONMENTAL FOCUS OF REDUCING EMISSIONS FROM ENERGY CONSUMPTION AND IMPROVE STORM-WATER MANAGEMENT. OUR GOAL IS TO PRODUCE A SKILLED AND EMPLOYABLE CONSTRUCTION WORKFORCE TO SATISFY THE LABOR NEEDS IN BALTIMORE AND BEYOND. IN 2023 WORK REQUITY CONTINUED THE RENOVATION OF THE PILOT PROJECT, CARVER HOUSE. STUDENTS WORKED WITH MASONRY TEACHER TO COMPLETE THE NECESSARY MASONRY WORK IN THE BASEMENT & TEMPORARY ROOF REPAIRS, WHILE THE ARCHITECTURAL DESIGN AND PERMITTING WERE BEING COMPLETED THROUGH THE STATE OF MARYLAND.
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IRS990/ProgSrvcAccomActy2Grp/Desc0CARVER HUT: AN EXPANSION OF THE PASSIVE WALL 2022 PROJECT, THE CARVER HUT IS BUILDING SCIENCE TRAINING FOR THE CARVER HOUSE ON A SMALLER SCALE. STUDENTS FROM MASONRY, CARPENTRY, ELECTRICAL, AND BUSINESS TRADES ARE COLLABORATING WITH TEACHERS, STAFF, PARTNERS, AND VOLUNTEERS TO BUILD THREE ADDITIONAL HIGHLY INSULATED WALLS, ADD INSULATED FLOORING, INSTALL A HIGH-PERFORMANCE DOOR AND WINDOW, AND ERECT THE ROOF WITH A SOLAR PV SYSTEM. ONCE COMPLETE, THE CARVER HUT WILL BE UTILIZED TO TEACH TESTING PROCESSES FOR PASSING HIGH- PERFORMANCE BUILDING STANDARDS. 13 STUDENTS FROM THREE BALTIMORE CITY HIGH SCHOOLS LEARNED AND APPLIED BUILDING SCIENCE PRINCIPLES TO CONSTRUCT THE CARVER PASSIVE HUT IN CARVER'S MASONRY LAB.
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IRS990/ProgSrvcAccomActy3Grp/Desc0REQUITY CULINARY: REQUITY CULINARY AIMS TO OFFER WORK-BASED LEARNING AND TRAINING FOR CULINARY TRADE STUDENTS, COLLABORATING WITH PROFESSIONALS IN REAL-WORLD SETTINGS. THEY RECOGNIZE THE SIGNIFICANCE OF NOURISHMENT IN BUILDING CONNECTIONS AMONG COMMUNITY RESIDENTS, CARVER STUDENTS, AND THE REQUITY TEAM. IMPLEMENTING "WE ALL EAT WEDNESDAYS," REQUITY PARTNERS WITH CULINARY STUDENTS TO PLAN, PREP, COOK, AND DELIVER MEALS TO RESIDENTS ON THE 2100 AND 2200 BLOCKS OF PRESSTMAN STREET. MOREOVER, REQUITY CULINARY CATERS FOR VARIOUS REQUITY ENGAGEMENTS, INCLUDING BIWEEKLY CARVER FACULTY MEETINGS AND OTHER IMPORTANT EVENTS AT THE REQUITY HEADQUARTERS. THEIR EFFORTS AIM TO HARMONIZE WORK-BASED LEARNING WITH THE "FOOD SERVICE PRO" CURRICULUM, COVERING PROFESSIONAL FOOD PREPARATION, SAFETY, CUSTOMER SERVICE, ACCOUNTING, COST CONTROL, MARKETING, AND INVENTORY. SINCE OCTOBER 2023, THEY'VE PROVIDED OVER 913 MEALS TO THE PLEASANT PRESSTMAN COMMUNITY, INTEGRATING CULINARY EDUCATION WITH COMMUNITY SUPPORT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO BUILD CHARACTER, COMMUNITY AND CAREERS BY CULTIVATING RELEVANT AND TRANSFERABLE INTERPERSONAL SKILLS, APPLYING CLASSROOM LESSONS TO REAL-WORLD EXPERIENCES, AND CREATING PATHWAYS TO EQUITABLE EMPLOYMENT AND THRIVING CAREERS FOR ALL OF OUR STUDENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CARVER HOUSE: RENOVATIONS OF CARVER HOUSE PROVIDE SPECIALTY KNOWLEDGE AND WORK-BASED LEARNING FOR STUDENTS. BY APPLYING CLASSROOM LESSONS TO AUTHENTIC WORK, STUDENTS IN CARPENTRY, ELECTRICAL, MASONRY, INTERACTIVE MEDIA, BUSINESS, AND HVAC WILL BE TRAINED, EXPERIENCED, AND PREPARED TO JOIN A SPECIALIZED WORKFORCE FOR THE EMERGING LOW-CARBON EMISSIONS BUILDING INDUSTRY THROUGH APPRENTICESHIP AND PATHWAY PROGRAMS. THE CARVER HOUSE PROGRAM IS ALSO AIMING TO IMPLEMENT A CONSTRUCTION STANDARD THAT PRODUCES EXCEPTIONALLY ENERGY EFFICIENT, VIRTUALLY AIRTIGHT HOUSES WHERE MINIMUM ENERGY IS USED FOR HEATING AND COOLING, CURBING CLIMATE-RELATED EMISSIONS WHILE SAVING RESIDENTS UP TO NINETY PERCENT IN HEATING AND UTILITY COSTS. UTILIZING THESE TRADE SKILLS WILL BENEFIT THE NEIGHBORHOOD RESIDENTS THROUGH AFFORDABLE HOUSING AND A HEALTHIER INDOOR ENVIRONMENT. SUSTAINABLE BUILDING SCIENCE WILL CONTRIBUTE TO OUR ENVIRONMENTAL FOCUS OF REDUCING EMISSIONS FROM ENERGY CONSUMPTION AND IMPROVE STORM-WATER MANAGEMENT. OUR GOAL IS TO PRODUCE A SKILLED AND EMPLOYABLE CONSTRUCTION WORKFORCE TO SATISFY THE LABOR NEEDS IN BALTIMORE AND BEYOND. IN 2023 WORK REQUITY CONTINUED THE RENOVATION OF THE PILOT PROJECT, CARVER HOUSE. STUDENTS WORKED WITH MASONRY TEACHER TO COMPLETE THE NECESSARY MASONRY WORK IN THE BASEMENT & TEMPORARY ROOF REPAIRS, WHILE THE ARCHITECTURAL DESIGN AND PERMITTING WERE BEING COMPLETED THROUGH THE STATE OF MARYLAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REQUITY CULINARY: REQUITY CULINARY AIMS TO OFFER WORK-BASED LEARNING AND TRAINING FOR CULINARY TRADE STUDENTS, COLLABORATING WITH PROFESSIONALS IN REAL-WORLD SETTINGS. THEY RECOGNIZE THE SIGNIFICANCE OF NOURISHMENT IN BUILDING CONNECTIONS AMONG COMMUNITY RESIDENTS, CARVER STUDENTS, AND THE REQUITY TEAM. IMPLEMENTING "WE ALL EAT WEDNESDAYS," REQUITY PARTNERS WITH CULINARY STUDENTS TO PLAN, PREP, COOK, AND DELIVER MEALS TO RESIDENTS ON THE 2100 AND 2200 BLOCKS OF PRESSTMAN STREET. MOREOVER, REQUITY CULINARY CATERS FOR VARIOUS REQUITY ENGAGEMENTS, INCLUDING BIWEEKLY CARVER FACULTY MEETINGS AND OTHER IMPORTANT EVENTS AT THE REQUITY HEADQUARTERS. THEIR EFFORTS AIM TO HARMONIZE WORK-BASED LEARNING WITH THE "FOOD SERVICE PRO" CURRICULUM, COVERING PROFESSIONAL FOOD PREPARATION, SAFETY, CUSTOMER SERVICE, ACCOUNTING, COST CONTROL, MARKETING, AND INVENTORY. SINCE OCTOBER 2023, THEY'VE PROVIDED OVER 913 MEALS TO THE PLEASANT PRESSTMAN COMMUNITY, INTEGRATING CULINARY EDUCATION WITH COMMUNITY SUPPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER PROGRAM SERVICES OFFERED INCLUDING YOUTH BASEBALL AND BEAUTIFICATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACTORS PSA1 21,468 0 0 CONTRACTORS PSA2 10,382 0 0 CONTRACTORS PSA 3 5,185 0 0 CONTRACTORS - OPERATIONS 0 84,613 0 CONTRACOTS - PROGRAM SERVICE 51,273 0 0 TOTAL 88,308 84,613 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOOK / TAX DEPRECIATION DIFFERENCE 1,099
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL ROSENBAND
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ReturnHeader/ReturnTs02024-11-15T15:49:37-05:00
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ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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