Civic Intelligence

Project Equity

990 • Fiscal year 2024 • EIN 86-2938689

Apr 01, 2023 to Mar 31, 2024 • Filed on Sep 14, 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

83rd percentile

0.48x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

9.85x

Higher debt load relative to revenue than 98% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

59th percentile

8.8%

Higher net margin than 59% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

45th percentile

2.4%

Faster asset growth than 45% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$4,927,054

Up $116,964 (+2.4%) from 2023

Net Assets

Down

$2,546,713

Down $148,897 (-5.5%) from 2023

Liabilities

Up

$2,380,341

Up $265,861 (+13%) from 2023

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin59th percentile

Revenue

Down

$241,700

Down $1,523,099 (-86%) from 2023

Expenses

Up

$220,376

Up $149,375 (+210%) from 2023

Net Income

Down

$21,324

Down $1,672,474 (-99%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth45th 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

2024

Assets$4,927,054
Liabilities$2,380,341
Net Assets$2,546,713
Open 2024 Filing

Operations Trend

Revenue Growth1st 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

2024

Revenue$241,700
Expenses$220,376
Net Income$21,324
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2023 to Mar 31, 2024
Signed
Sep 14, 2024
Return Version
2023v6.0
Gross Receipts
$241,700
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$2,860,432$2,952,718▲ $92,286
Other Notes and Loans Receivable, Net$1,943,755$1,940,662▼ $3,093
Prepaid Expenses and Deferred Charges-$25,498-
Accounts Receivable$5,903$8,176▲ $2,273
Total Assets$4,810,090$4,927,054▲ $116,964
Liabilities
Unsecured Notes Loans Payable$1,441,738$2,243,946▲ $802,208
Accounts Payable and Accrued Expenses$641,171$111,825▼ $529,346
Deferred Revenue$31,571$24,570▼ $7,001
Total Liabilities$2,114,480$2,380,341▲ $265,861
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,695,610$2,546,713▼ $148,897
Total Net Assets Fund Balance$2,695,610$2,546,713▼ $148,897
Total Liabilities and Net Assets / Fund Balance$4,810,090$4,927,054▲ $116,964
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$39,254
Program Service Revenue
$15,487
Investment Income
$182,905
Other Revenue
$4,054
All Other Contributions
$39,254
Change in Net Assets
$21,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$220,376
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$90,694$5,000-$90,694
Fees for Services Other$43,275--$43,275
Interest$42,438--$42,438
Fees for Services Accounting$16,220$5,949-$22,169
Insurance-$14,252-$14,252
Total Functional Expenses$195,074$25,302$0$220,376
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
2024-09-14
Discuss with paid preparer
No

Organization Details

Principal Officer
Evan Edwards
Formed
2021
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
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 adoption of asu 2016-13- credit losses.”

List of other fees for services expenses Part IX line 11G

“Professional fees consist of service fees.”

Raw XML Appendix369 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/ExplanationTxt2BEGINNING NET ASSETS WAS RESTATED DUE TO ADOPTION OF ASU 2016-13- CREDIT LOSSES.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
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ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,927,054
Liabilities
$2,380,341
Net assets
$2,546,713
Revenue
$241,700
Expenses
$220,376
Net income
$21,324
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