Civic Intelligence

Project Equity

990 • Fiscal year 2023 • EIN 86-2938689

Apr 01, 2022 to Mar 31, 2023 • Filed on Jul 27, 2024

Organization ProfilePROJECT-EQUITY.ORG
2648 International Blvd Ste 115 SteOakland, CA 94601

(310) 913-1474

Siviq Scores

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

Liabilities / Assets

81st percentile

0.44x

Higher debt load relative to assets than 81% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

1.20x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

97th percentile

181%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

83rd percentile

49%

Faster revenue growth than 83% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$4,810,090

Up $3,101,053 (+181%) from 2022

Net Assets

Up

$2,695,610

Up $1,522,065 (+130%) from 2022

Liabilities

Up

$2,114,480

Up $1,578,988 (+295%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin98th percentile

Revenue

Up

$1,764,799

Up $577,792 (+49%) from 2022

Expenses

Up

$71,001

Up $57,539 (+427%) from 2022

Net Income

Up

$1,693,798

Up $520,253 (+44%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$20M$15M$10M$5.0M$0Assets 2022: $1,709,037Liabilities 2022: $535,492Net Assets 2022: $1,173,5452022Assets 2023: $4,810,090Liabilities 2023: $2,114,480Net Assets 2023: $2,695,6102023Assets 2024: $4,927,054Liabilities 2024: $2,380,341Net Assets 2024: $2,546,7132024Assets 2025: $15,756,924Liabilities 2025: $6,139,344Net Assets 2025: $9,617,5802025

Highlighted filing

2023

Assets$4,810,090
Liabilities$2,114,480
Net Assets$2,695,610
Open 2023 Filing

Operations Trend

Revenue Growth83rd percentile

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

$10M$5.0M$0Revenue 2022: $1,187,007Expenses 2022: $13,462Net Income 2022: $1,173,5452022Revenue 2023: $1,764,799Expenses 2023: $71,001Net Income 2023: $1,693,7982023Revenue 2024: $241,700Expenses 2024: $220,376Net Income 2024: $21,3242024Revenue 2025: $8,254,336Expenses 2025: $1,901,872Net Income 2025: $6,352,4642025

Highlighted filing

2023

Revenue$1,764,799
Expenses$71,001
Net Income$1,693,798
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2022 to Mar 31, 2023
Signed
Jul 27, 2024
Return Version
2022v5.0
Gross Receipts
$1,764,799
Mission and Program Overview

Mission

Project equity is a national leader in the movement to harness employee ownership to maintain thriving local business communities, honor selling owners legacies, and address income and wealth inequality.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,507,461$2,860,432▲ $1,352,971
Other Notes and Loans Receivable, Net$200,656$1,943,755▲ $1,743,099
Accounts Receivable$920$5,903▲ $4,983
Total Assets$1,709,037$4,810,090▲ $3,101,053
Liabilities
Unsecured Notes Loans Payable$525,000$1,441,738▲ $916,738
Accounts Payable and Accrued Expenses$7,599$641,171▲ $633,572
Deferred Revenue$2,893$31,571▲ $28,678
Total Liabilities$535,492$2,114,480▲ $1,578,988
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,173,545$2,695,610▲ $1,522,065
Total Net Assets Fund Balance$1,173,545$2,695,610▲ $1,522,065
Total Liabilities and Net Assets / Fund Balance$1,709,037$4,810,090▲ $3,101,053
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Evan EdwardsPresident
Alison LinganeVice President
Eric WeaverDirector
Hilary AbellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,703,150
Program Service Revenue
$0
Investment Income
$59,994
Other Revenue
$1,655
All Other Contributions
$1,703,150
Change in Net Assets
$1,693,798
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,001
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$30,784$16,062-$30,784
Interest$17,465--$17,465
Fees for Services Accounting$6,300--$6,300
Total Functional Expenses$54,939$16,062$0$71,001
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
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
No
Other officer compensation reviewed
No
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 governing body review Part VI line 11

“The board of director reveiws and approves the 990 before filing.”

Governing documents etc available to public Part VI line 19

“The 990 is available to the public upon request and is also available on guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Project Equity
EIN
86-2938689
Address
2648 INTERNATIONAL BLVD STE 115 STE, Oakland, CA 94601

Signing Officer

Name
Evan Edwards
Title
President
Phone
5103806300
Signed
2024-07-27
Discuss with paid preparer
No

Organization Details

Principal Officer
Evan Edwards
Formed
2021
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Gruber and Lopez Inc
Address
438 OLD NEWPORT BLVD, Newport Beach, CA 92663
Preparer
Ron Lopez
Phone
9493462900
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Beginning net assets was restated due to understatement of accruals recorded in previous year.”

Raw XML Appendix340 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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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01709037
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04810090
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0true
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0525000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01441738
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0PROJECT-EQUITY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0EVAN EDWARDS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05103806300
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT EQUITY
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0862938689
ReturnHeader/Filer/USAddress/AddressLine1Txt02648 INTERNATIONAL BLVD STE 115 STE
ReturnHeader/Filer/USAddress/CityNm0Oakland
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094601
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRUBER AND LOPEZ INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0438 OLD NEWPORT BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Newport Beach
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092663
ReturnHeader/PreparerPersonGrp/PhoneNum09493462900
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RON LOPEZ
ReturnHeader/ReturnTs02024-08-02T13:54:15-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-04-01
ReturnHeader/TaxPeriodEndDt02023-03-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,810,090
Liabilities
$2,114,480
Net assets
$2,695,610
Revenue
$1,764,799
Expenses
$71,001
Net income
$1,693,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.8$6.14$9.62$8.25$1.90$6.35
2024Detailed filing. Detailed filing data is available for this year.$4.93$2.38$2.55$0.24$0.22$0.02
2023Detailed filing. Detailed filing data is available for this year.$4.81$2.11$2.70$1.76$0.07$1.69
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.54$1.17$1.19$0.01$1.17