Civic Intelligence

Equiticity

990 • Fiscal year 2024 • EIN 85-3668073

May 01, 2023 to Apr 30, 2024 • Filed on Feb 27, 2025

1655 S Blue Island Ave 753Chicago, IL 60608

(773) 916-6264

Siviq Scores

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

Liabilities / Assets

47th percentile

0.01x

Higher debt load relative to assets than 47% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

43rd percentile

0.01x

Higher debt load relative to revenue than 43% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

2nd percentile

-126%

Higher net margin than 2% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

93rd percentile

$133,731

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.9% of source-year revenue.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

2nd percentile

-66%

Faster asset growth than 2% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-63%

Faster revenue growth than 3% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$627,012

Down $1,221,285 (-66%) from 2023

Net Assets

Down

$620,536

Down $1,218,542 (-66%) from 2023

Liabilities

Down

$6,476

Down $2,743 (-30%) from 2023

Revenue

Down

$963,834

Down $1,645,504 (-63%) from 2023

Expenses

Up

$2,182,376

Up $1,412,116 (+183%) from 2023

Net Income

Down

-$1,218,542

Down $3,057,620 (-166%) from 2023

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2023: $1,848,297Liabilities 2023: $9,219Net Assets 2023: $1,839,0782023Assets 2024: $627,012Liabilities 2024: $6,476Net Assets 2024: $620,5362024Assets 2025: $809,440Liabilities 2025: $139,142Net Assets 2025: $670,2982025

Highlighted filing

2024

Assets$627,012
Liabilities$6,476
Net Assets$620,536

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2023: $2,609,338Expenses 2023: $770,260Net Income 2023: $1,839,0782023Revenue 2024: $963,834Expenses 2024: $2,182,376Net Income 2024: -$1,218,5422024Revenue 2025: $1,316,941Expenses 2025: $1,267,179Net Income 2025: $49,7622025

Highlighted filing

2024

Revenue$963,834
Expenses$2,182,376
Net Income-$1,218,542
Jump To
Filing Snapshot
Filing Period
May 1, 2023 to Apr 30, 2024
Signed
Feb 27, 2025
Return Version
2023v6.0
Gross Receipts
$963,834
Mission and Program Overview

Mission

To operationalize racial equity by harnessing the collective power through research, advocacy, programs, community mobility rituals, and social enterprises to improve the lives of black, brown, and indigenous people in our society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,245,325--
Pledges and Grants Receivable$550,555$442,974▼ $107,581
Cash and Non-Interest-Bearing Accounts$41,584$125,275▲ $83,691
Land, Buildings, and Equipment, Net$5,117$12,056▲ $6,939
Prepaid Expenses and Deferred Charges$5,716$11,193▲ $5,477
Total Assets$1,848,297$627,012▼ $1,221,285
Other Assets Total$0$35,514▲ $35,514
Liabilities
Accounts Payable and Accrued Expenses$9,219$6,476▼ $2,743
Total Liabilities$9,219$6,476▼ $2,743
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,289,078$395,536▼ $893,542
Net Assets With Donor Restrictions$550,000$225,000▼ $325,000
Total Net Assets Fund Balance$1,839,078$620,536▼ $1,218,542
Total Liabilities and Net Assets / Fund Balance$1,848,297$627,012▼ $1,221,285

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,056$3,321$15,377
Other Assets Org$35,514--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Olatunji Oboi ReedPresident & CEOFT$126,555$7,176$133,731

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$943,637
Program Service Revenue
$20,000
Investment Income
$117
Other Revenue
$80
All Other Contributions
$943,637
Change in Net Assets
$-1,218,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$963,834
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$6,544
Total Revenue per Audited Statements
$970,378
Total Revenue per Form 990
$963,834
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,133,082
Salaries, Compensation, and Employee Benefits$1,049,294
Total Fundraising Expense$134,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$688,360$49,169$81,948$819,477
Fees for Services Other$196,885$257,876$19,417$474,178
Current Officers, Directors, Trustees, and Key Employees$80,184$5,727$9,546$95,457
Payroll Taxes$66,809$4,772$7,953$79,534
Fees for Services Accounting$31,583$42,416$3,115$77,114
Travel$49,249$2,300-$51,549
Other Employee Benefits$33,060$2,361$3,936$39,357
Occupancy$20,526$18,319-$38,845
Pension Plan Contributions$12,994$928$1,547$15,469
Insurance-$13,448-$13,448
Fees for Services Legal$2,681$3,600$264$6,545
Other Expenses$770$4,835$5,597$5,605
Office Expenses$1,980$1,390$920$4,290
Depreciation Depletion-$3,020-$3,020
All Other Expenses$500$1,940-$2,440
Total Functional Expenses$1,610,244$437,364$134,768$2,182,376

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,188,920
Expenses per Audited Statements$2,182,376
Total Expenses per Form 990$2,182,376
Expenses Not Reported on Form 990$6,544
Expenses Not Reported on Financial Statements$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 review process includes internal review and preparation by the CEO/President, Director of Operations and Accountant. After this first pass, the Board Finance Committee (Treasurer and Secretary) reviews 990 before submitting to the full Board for review and final approval.

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

Equiticity's Board Liaison (Cecily Langford currently) is tasked with revisiting the Conflict of Interest statements annually, ensuring each member is compliant with the provided policy statements each year. The Liaison is also tasked with annually inserting into the Board of Directors' meeting agenda a review of the policy to support each board member's awareness and adherence to the policy content.

Form 990, Part VI, Section B, line 15

Equiticity contracted with a 3rd party Human Resources professional to conduct conversations using comparability data to base a collective decision on CEO salary level, as well as all Director level positions in the organization. Researched data is disclosed to Finance Committee and Board in the budget review process.

Form 990, Part VI, Section C, line 19

Available upon request.

Filing and Contact Details

Filer

Filer Name
Equiticity
EIN
85-3668073
Phone
7739166264
Address
1655 S Blue Island Ave 753, Chicago, IL 60608

Signing Officer

Name
Olatunji Oboi Reed
Title
President & CEO
Phone
7739166264
Signed
2025-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Olatunji Oboi Reed
Formed
2020
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
9
Employees
14
Volunteers
15

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S WESTERN AVENUE, CHICAGO, IL 60643-3206
Preparer
Mel Padillo
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Contract & Consulting Fees: Program service expenses 196,885. Management and general expenses 257,876. Fundraising expenses 19,417. Total expenses 474,178.

Form 990, Part XII, line 2C:

Equiticity's senior level management has initial oversite for audit review before drafts are provided to the Board Finance Committee then the Full Board of Directors for review and approval.

Financial Statement Notes

Part X, Line 2:

FIN 48 Note from Audited Financial Statement The Organization was granted an exemption from income taxes by the Internal Revenue Service pursuant to the provisions of Internal Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction and has been classified as an organization that is not a private Organization under Section 509(a)(1). The Organization continues to operate in compliance with its tax-exempt purpose. Management believes that it did not engage in any unrelated business activities; as such, no provision for income taxes has been provided for in the financial statements. The Organization's Form 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after filing.

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IRS990/PayrollTaxesGrp/FundraisingAmt07953
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04772
IRS990/PayrollTaxesGrp/ProgramServicesAmt066809
IRS990/PayrollTaxesGrp/TotalAmt079534
IRS990/PensionPlanContributionsGrp/FundraisingAmt01547
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0928
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt012994
IRS990/PensionPlanContributionsGrp/TotalAmt015469
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0550555
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0442974
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05716
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011193
IRS990/PrincipalOfficerNm0Olatunji Oboi Reed
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541610
IRS990/ProgramServiceRevenueGrp/Desc0Consulting income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt020000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt020000
IRS990/ProgSrvcAccomActy2Grp/Desc0BikeForce and Bike Team Equiticity's youth programs introduce young people from North and South Lawndale (Pilsen) to the world of cycling, training high school students to maintain and repair conventional bikes and e-bikes, preparing them for the thousands of jobs emerging in the mobility sector, as well as introducing them to bicycle racing. Services are delivered at selected neighborhood schools and community centers, and prospective students find out about the program through Equiticity's network of community partners.E-Bike Technologies Workforce Development Program targets students in their late teens and provides training around a wave of technologies ushering in a transportation revolution in our society, inclusive of electric vehicles, autonomous vehicles, e-bikes, and e-scooters. The program focuses on emerging transportation technologies, such as e-bikes, e-scooters, battery systems, and electric motors and will apprentice teens and young adults in the North Lawndale neighborhood in Chicago to gain the skill sets leading to living wage and career oriented opportunities and/orentrepreneurial opportunities. To date, Equiticity's youth programs have served over 60 young people. No charges or fees are leveraged for these programs from participants.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0870228
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt07000
IRS990/ProgSrvcAccomActy3Grp/Desc0Community Mobility Rituals (CMRs) Equiticity's regularly scheduled, hyperlocal mobility events -- bike rides, walking tours, public transit excursions, scooter rolls and open streets festivals -- engage neighbors in active mobility that enhances fitness and well-being, while increasing social cohesion and promoting more vibrant streets. Vibrant streets are likely to be less violent -- and less violence translates to better health and safety for residents. Equiticity delivers CMRs in partnership with a variety of West Side Chicago organizations, which publicize the events through their networks. Routes begin and end in North Lawndale. To date, Equiticity has offered more than 100 CMRs reaching more than 2000 participants. No charges or fees are leveraged for these programs from participants
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0423116
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt06080
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02593936
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt012209
IRS990/PYInvestmentIncomeAmt0102
IRS990/PYOtherExpensesAmt0532688
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt015300
IRS990/PYRevenuesLessExpensesAmt01839078
IRS990/PYSalariesCompEmpBnftPaidAmt0225363
IRS990/PYTotalExpensesAmt0770260
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02609338
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1218542
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01245325
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0943637
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02743936
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03687573
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0117
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0102
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0219
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt020197
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt015300
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt035497
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0117
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0102
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0219
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt080
IRS990ScheduleA/OtherIncome509Grp/TotalAmt080
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt03723070
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0963834
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02759236
IRS990ScheduleA/Total509Grp/TotalAmt03723070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0964031
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02759338
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03723369
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt06544
IRS990ScheduleD/DonatedServicesUseFcltsAmt06544
IRS990ScheduleD/EquipmentGrp/BookValueAmt012056
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03321
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015377
IRS990ScheduleD/ExpensesNotReportedAmt06544
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02182376
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt035514
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Security Deposit
IRS990ScheduleD/RevenueNotReportedAmt06544
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0963834
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 Note from Audited Financial Statement The Organization was granted an exemption from income taxes by the Internal Revenue Service pursuant to the provisions of Internal Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction and has been classified as an organization that is not a private Organization under Section 509(a)(1). The Organization continues to operate in compliance with its tax-exempt purpose. Management believes that it did not engage in any unrelated business activities; as such, no provision for income taxes has been provided for in the financial statements. The Organization's Form 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after filing.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012056
IRS990ScheduleD/TotalBookValueOtherAssetsAmt035514
IRS990ScheduleD/TotalExpensesPerForm990Amt02182376
IRS990ScheduleD/TotalRevenuePerForm990Amt0963834
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0970378
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02188920
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The review process includes internal review and preparation by the CEO/President, Director of Operations and Accountant. After this first pass, the Board Finance Committee (Treasurer and Secretary) reviews 990 before submitting to the full Board for review and final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Equiticity's Board Liaison (Cecily Langford currently) is tasked with revisiting the Conflict of Interest statements annually, ensuring each member is compliant with the provided policy statements each year. The Liaison is also tasked with annually inserting into the Board of Directors' meeting agenda a review of the policy to support each board member's awareness and adherence to the policy content.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Equiticity contracted with a 3rd party Human Resources professional to conduct conversations using comparability data to base a collective decision on CEO salary level, as well as all Director level positions in the organization. Researched data is disclosed to Finance Committee and Board in the budget review process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contract & Consulting Fees: Program service expenses 196,885. Management and general expenses 257,876. Fundraising expenses 19,417. Total expenses 474,178.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Equiticity's senior level management has initial oversite for audit review before drafts are provided to the Board Finance Committee then the Full Board of Directors for review and approval.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, line 2c:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01848297
IRS990/TotalAssetsEOYAmt0627012
IRS990/TotalAssetsGrp/BOYAmt01848297
IRS990/TotalAssetsGrp/EOYAmt0627012
IRS990/TotalCompGreaterThan150KInd00

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