Totals
- Total revenue
- $134,913,992
- Total expenses
- $51,702,521
- Contributions and grants received
- $68,162,500
- Grants paid
- $1,000,424
- Program service revenue
- $55,330,236
- Investment income
- $14,634,993
- Other revenue
- -$3,213,737
- Total assets, end of year
- $1,925,279,588
- Total liabilities, end of year
- $1,448,793,997
- Net assets or fund balances, end of year
- $476,485,591
- Program services expenses (Part IX)
- $49,014,582
- Management and general expenses
- $2,178,916
- Fundraising expenses
- $509,023
- Program service expenses (Part III)
- $49,014,582
Program services were 94.8% 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
$68,162,500
-
2a · Program service revenue: LOAN INCOME
total $52,631,766 · related or exempt $52,631,766
-
2b · Program service revenue: SERVICE FEES
total $2,698,470 · related or exempt $2,698,470
-
3 · Investment income
total $14,634,993 · excluded $14,634,993
-
11a · Other revenue: IN KIND REVENUES - PROFESSIONAL S
total $904,823 · related or exempt $904,823
-
11b · Other revenue: IN KIND REVENUES - ZERO OR BELOW
total $776,222 · related or exempt $776,222
-
11c · Other revenue: OTHER INCOME
total $175,700 · related or exempt $175,700
-
11d · All other revenue
total -$5,070,482 · related or exempt -$5,070,482
-
11e · Other revenue, total
-$3,213,737
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,000,424 · program services $1,000,424
-
5 · Compensation of officers, directors and key employees
total $2,221,259 · program services $1,770,331 · management and general $254,538 · fundraising $196,390
-
6 · Compensation of disqualified persons
total $899,796 · program services $759,505 · management and general $129,439 · fundraising $10,852
-
7 · Other salaries and wages
total $1,000,490 · program services $579,390 · management and general $324,841 · fundraising $96,259
-
8 · Pension plan contributions
total $182,003 · program services $137,300 · management and general $31,301 · fundraising $13,402
-
9 · Other employee benefits
total $378,104 · program services $285,235 · management and general $65,026 · fundraising $27,843
-
10 · Payroll taxes
total $246,938 · program services $186,286 · management and general $42,468 · fundraising $18,184
-
11b · Fees: legal
total $10,860 · management and general $10,860
-
11c · Fees: accounting
total $258,963 · management and general $258,963
-
11g · Fees: other
total $2,392,639 · program services $1,647,815 · management and general $664,358 · fundraising $80,466
-
12 · Advertising and promotion
total $92,124 · management and general $92,124
-
13 · Office expenses
total $10,610 · program services $8,004 · management and general $1,825 · fundraising $781
-
14 · Information technology
total $173,061 · program services $130,554 · management and general $29,763 · fundraising $12,744
-
16 · Occupancy
total $79,849 · program services $60,237 · management and general $13,732 · fundraising $5,880
-
17 · Travel
total $477,782 · program services $360,431 · management and general $82,168 · fundraising $35,183
-
20 · Interest
total $41,857,656 · program services $41,857,656
-
22 · Depreciation, depletion and amortization
total $16,807 · program services $12,679 · management and general $2,890 · fundraising $1,238
-
23 · Insurance
total $117,168 · management and general $117,168
-
24a · Other expenses: PORTFOLIO EVENTS
total $113,129 · program services $113,129
-
24b · Other expenses: STAFF DEVELOPMENT & TEA
total $100,430 · program services $75,763 · management and general $17,272 · fundraising $7,395
-
24c · Other expenses: ALL OTHER EXPENSES
total $44,670 · program services $29,843 · management and general $12,421 · fundraising $2,406
-
24d · Other expenses: BANK FEES
total $27,759 · management and general $27,759
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,066,938 · end of year $1,739,606
-
2 · Savings and temporary cash investments
beginning of year $1,547 · end of year $1,555
-
3 · Pledges and grants receivable
beginning of year $2,266,667 · end of year $25,333,334
-
4 · Accounts receivable
beginning of year $6,175 · end of year $5,000
-
7 · Other notes and loans receivable
beginning of year $1,105,452,701 · end of year $1,377,825,219
-
9 · Prepaid expenses and deferred charges
beginning of year $250,823 · end of year $817,179
-
10a · Land, buildings and equipment: cost or other basis
$105,659
-
10b · Land, buildings and equipment: accumulated depreciation
$76,677
-
10c · Land, buildings and equipment, net
beginning of year $17,032 · end of year $28,982
-
12 · Investments: other securities
beginning of year $364,891,569 · end of year $513,183,979
-
15 · Other assets
beginning of year $4,767,416 · end of year $6,344,734
-
17 · Accounts payable and accrued expenses
beginning of year $6,734,936 · end of year $12,102,441
-
20 · Tax-exempt bond liabilities
beginning of year $1,074,666,885 · end of year $1,410,779,667
-
24 · Unsecured notes and loans payable
beginning of year $3,800,000 · end of year $19,042,125
-
25 · Other liabilities
beginning of year $2,520,395 · end of year $6,869,764
-
27 · Net assets without donor restrictions
beginning of year $363,467,777 · end of year $450,044,674
-
28 · Net assets with donor restrictions
beginning of year $28,530,875 · end of year $26,440,917
Mission and programs · 2024
Mission
EFF IS A NONPROFIT SOCIAL IMPACT FUND THAT BELIEVES ALL CHILDREN DESERVE A QUALITY EDUCATION. WE EMPOWER HIGH-PERFORMING PUBLIC CHARTER SCHOOLS WITH EQUITABLE ACCESS TO LOW-COST, LONG-TERM FINANCING BY INNOVATIVELY COMBINING MISSION-RELATED INVESTMENTS AND CAPITAL MARKETS.
-
THE EQUITABLE FACILITIES FUND LEVERAGES DONATIONS AND OTHER PHILANTHROPIC MONIES IT RECEIVES AND HOLDS TO ENABLE CHARTER SCHOOLS TO BORROW MORE CHEAPLY AND EFFECTIVELY. DESIGNING, IMPLEMENTING AND MAINTAINING THIS NEW SOURCE OF CAPITAL FOR CHARTER SCHOOL FACILITIES WILL ULTIMATELY LEAD TO IMPROVED PUBLIC EDUCATION FOR CHILDREN.
Expenses $49,014,582 · Grants $1,000,424 · Revenue $55,330,236
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Buddy PhilpotBUDDY PHILPOT
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Scott PearsonSCOTT PEARSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Kevin HallKEVIN HALL
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Aarthi SowrirajanAARTHI SOWRIRAJAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Nguyen HuyhnNGUYEN HUYHN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Anand KesavanANAND KESAVAN
CEO
- Total calculated
- $613,477
- From this org
- $596,680
- From related orgs
- $0
- Other
- $16,797
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $595,833
- Bonus
- $0
- Other
- $847
- Deferred
- $8,753
- Nontaxable benefits
- $8,044
- Filer's total
- $613,477
-
Michelle GetzMICHELLE GETZ
CHIEF CREDIT OFFICER
- Total calculated
- $298,604
- From this org
- $275,875
- From related orgs
- $0
- Other
- $22,729
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $269,375
- Bonus
- $0
- Other
- $6,500
- Deferred
- $15,375
- Nontaxable benefits
- $7,354
- Filer's total
- $298,604
-
Jon McIntoshJON MCINTOSH
CHIEF OF STAFF
- Total calculated
- $263,452
- From this org
- $245,723
- From related orgs
- $0
- Other
- $17,729
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $200,000
- Bonus
- $20,000
- Other
- $25,723
- Deferred
- $14,730
- Nontaxable benefits
- $2,999
- Filer's total
- $263,452
-
Shawn McCormackSHAWN MCCORMACK
INVESTMENT PRINCIPAL
- Total calculated
- $239,695
- From this org
- $218,628
- From related orgs
- $0
- Other
- $21,067
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,000
- Bonus
- $19,800
- Other
- $828
- Deferred
- $13,068
- Nontaxable benefits
- $7,999
- Filer's total
- $239,695
-
Wendy BerryWENDY BERRY
INVESTMENT PRINCIPAL
- Total calculated
- $239,561
- From this org
- $220,821
- From related orgs
- $0
- Other
- $18,740
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $200,000
- Bonus
- $20,000
- Other
- $821
- Deferred
- $11,500
- Nontaxable benefits
- $7,240
- Filer's total
- $239,561
-
Marc WancerMARC WANCER
INVESTMENT PRINCIPAL
- Total calculated
- $240,257
- From this org
- $226,375
- From related orgs
- $0
- Other
- $13,882
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $205,000
- Bonus
- $20,500
- Other
- $875
- Deferred
- $13,530
- Nontaxable benefits
- $352
- Filer's total
- $240,257
-
Mike McGregorMIKE MCGREGOR
CHIEF OPERATIONS OFFICER
- Total calculated
- $497,084
- From this org
- $481,295
- From related orgs
- $0
- Other
- $15,789
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $219,792
- Bonus
- $0
- Other
- $261,503
- Deferred
- $13,753
- Nontaxable benefits
- $2,036
- Filer's total
- $497,084
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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS
501(C)(3) · SUPPORT CHARTER SCHOOLS · IL
-
NATIONAL ALLIANCE FOR PUBLIC CHARTER SCHOOLS
501(C)(3) · SUPPORT CHARTER SCHOOLS · DC
-
EQUITABLE COMMUNITY VENTURES INC
501(C)(3) IN PROCESS · SUPPORT CHARTER SCHOOLS · DE
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
EQUITABLE SCHOOL REVOLVING FUND LLC
SUPPORT CHARTER SCHOOLS · DE · income $66,969,080 · assets $1,878,848,041
Directly controlled by EQUITABLE FACILITIES FUND INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349309211
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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