Form 990 for tax year 2023
Filed by THE FOUNDATION FOR RESEARCH ON EQUAL OPPORTUNITY.
Totals
- Total revenue
- $3,248,169
- Total expenses
- $2,662,441
- Contributions and grants received
- $3,243,505
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $83
- Other revenue
- $4,581
- Total assets, end of year
- $1,772,889
- Total liabilities, end of year
- $352,631
- Net assets or fund balances, end of year
- $1,420,258
- Program services expenses (Part IX)
- $2,059,840
- Management and general expenses
- $373,484
- Fundraising expenses
- $229,117
- Program service expenses (Part III)
- $2,059,840
Program services were 77.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$3,243,505
-
3 · Investment income
total $83 · related or exempt $83
-
11a · Other revenue
total $4,581 · related or exempt $4,581
-
11e · Other revenue, total
$4,581
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $591,000 · program services $488,548 · management and general $30,875 · fundraising $71,577
-
7 · Other salaries and wages
total $300,682 · program services $248,558 · management and general $15,708 · fundraising $36,416
-
9 · Other employee benefits
total $74,307 · program services $61,731 · management and general $3,840 · fundraising $8,736
-
10 · Payroll taxes
total $57,297 · program services $47,470 · management and general $3,088 · fundraising $6,739
-
11b · Fees: legal
total $23,773 · program services $23,773
-
11c · Fees: accounting
total $16,696 · management and general $16,696
-
11g · Fees: other
total $503,149 · program services $438,475 · management and general $49,280 · fundraising $15,394
-
12 · Advertising and promotion
total $110,803 · program services $103,838 · management and general $6,965
-
13 · Office expenses
total $14,395 · program services $1,776 · management and general $11,754 · fundraising $865
-
14 · Information technology
total $167,376 · program services $114,967 · management and general $52,409
-
16 · Occupancy
total $139,481 · management and general $139,481
-
17 · Travel
total $198,151 · program services $180,642 · management and general $1,624 · fundraising $15,885
-
19 · Conferences, conventions and meetings
total $290,274 · program services $285,940 · management and general $141 · fundraising $4,193
-
22 · Depreciation, depletion and amortization
total $1,313 · management and general $1,313
-
23 · Insurance
total $3,351 · management and general $3,351
-
24a · Other expenses: CONTRACTOR EXPENSES
total $112,697 · program services $46,000 · management and general $0 · fundraising $66,697
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $45,278 · program services $8,653 · management and general $34,468 · fundraising $2,157
-
24c · Other expenses: COMMUNITY ORGANIZING
total $9,637 · program services $9,465 · management and general $172 · fundraising $0
-
24d · Other expenses: BANK CHARGES
total $1,933 · program services $0 · management and general $1,933 · fundraising $0
-
24e · All other expenses
total $848 · program services $4 · management and general $386 · fundraising $458
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $875,211 · end of year $303,329
-
4 · Accounts receivable
end of year $1,126,403
-
9 · Prepaid expenses and deferred charges
beginning of year $31,815 · end of year $29,362
-
10a · Land, buildings and equipment: cost or other basis
$7,234
-
10b · Land, buildings and equipment: accumulated depreciation
$3,214
-
10c · Land, buildings and equipment, net
beginning of year $5,333 · end of year $4,020
-
14 · Intangible assets
end of year $309,775
-
17 · Accounts payable and accrued expenses
beginning of year $77,829 · end of year $38,344
-
24 · Unsecured notes and loans payable
end of year $314,287
-
27 · Net assets without donor restrictions
beginning of year $110,310 · end of year -$33,259
-
28 · Net assets with donor restrictions
beginning of year $724,220 · end of year $1,453,517
Mission and programs · 2023
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, (CONT. ON SCH O) 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.
Activities or mission (Part I)
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.
-
HEALTHCARE GENERAL: WE BELIEVE THAT AMERICANS DESERVE A HEALTH CARE SYSTEM THAT PROVIDES UNIVERSAL - AND UNIVERSALLY AFFORDABLE - COVERAGE FOR TODAY'S AMERICANS, AND A FISCALLY SUSTAINABLE SYSTEM FOR THE GENERATIONS TO COME. OUR HEALTH CARE RESEARCH IS FOCUSED ON MAKING THIS A REALITY.
Expenses $341,462
-
COMMUNICATIONS OUTREACH: THROUGH OUR COMMUNICATION AND OUTREACH EFFORTS, WE EFFECTIVELY DISSEMINATE OUR RESEARCH FINDINGS, INSIGHTS, AND RECOMMENDATIONS TO VARIOUS STAKEHOLDERS AND THE BROADER PUBLIC.
Expenses $257,417
-
EDUCATION: FREOPP CONDUCTS ORIGINAL RESEARCH IN BOTH THE HIGHER EDUCATION SPACE, AND IN THE K-12 SPACE. OUR K-12 PROGRAM IS FOCUSED ON INCREASING PARENTS AND STUDENTS' SOVEREIGNTY OVER THEIR CHILDREN'S EDUCATION. OUR HIGHER EDUCATION RESEARCH PROGRAM IS FOCUSED ON MEASURING THE RETURN ON INVESTMENT (ROI) OF COLLEGE DEGREES, AND ENSURING THAT INSTITUTIONS ARE ACCOUNTABLE FOR THE ECONOMIC OUTCOMES OF THE STUDENTS.
Expenses $280,245
-
Expenses $1,180,716
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ames BrownAMES BROWN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Avik RoyAVIK ROY
PRESIDENT / BOARD MEMBER
- Total calculated
- $303,128
- From this org
- $289,000
- From related orgs
- $0
- Other
- $14,128
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $289,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $14,128
- Filer's total
- $303,128
-
Lanhee ChenLANHEE CHEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Vivek RamaswamyVIVEK RAMASWAMY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jonathan BushJONATHAN BUSH
CHAIRMAN OF THE BOARD
- Total calculated
- $0
- Hours/week
- 5
-
Michael MiltenbergerMICHAEL MILTENBERGER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Frank LaukienFRANK LAUKIEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Preston CooperPRESTON COOPER
RESIDENT FELLOW
- Total calculated
- $181,181
- From this org
- $176,000
- From related orgs
- $0
- Other
- $5,181
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $176,000
- Bonus
- $0
- Other
- $0
- Deferred
- $5,181
- Nontaxable benefits
- $0
- Filer's total
- $181,181
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349313598
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