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← THE FOUNDATION FOR RESEARCH ON EQUAL OPPORTUNITY

Form 990 for tax year 2024

Filed by THE FOUNDATION FOR RESEARCH ON EQUAL OPPORTUNITY.

Totals

Total revenue
$2,179,354
Total expenses
$2,571,786
Contributions and grants received
$1,915,925
Grants paid
$0
Program service revenue
$0
Investment income
$1
Other revenue
$263,428
Total assets, end of year
$1,391,061
Total liabilities, end of year
$363,234
Net assets or fund balances, end of year
$1,027,827
Program services expenses (Part IX)
$2,000,612
Management and general expenses
$435,570
Fundraising expenses
$135,604
Program service expenses (Part III)
$2,000,612

Program services were 77.8% 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

    $1,915,925

  • 1g · Noncash contributions included above

    $2,931

  • 3 · Investment income

    total $1 · related or exempt $1

  • 11a · Other revenue

    total $263,428 · related or exempt $263,428

  • 11e · Other revenue, total

    $263,428

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $390,914 · program services $348,448 · management and general $19,240 · fundraising $23,226

  • 7 · Other salaries and wages

    total $337,741 · program services $301,050 · management and general $16,624 · fundraising $20,067

  • 9 · Other employee benefits

    total $76,289 · program services $24,483 · management and general $49,962 · fundraising $1,844

  • 10 · Payroll taxes

    total $52,140 · program services $46,587 · management and general $2,807 · fundraising $2,746

  • 11b · Fees: legal

    total $4,984 · management and general $4,984

  • 11c · Fees: accounting

    total $36,015 · management and general $36,015

  • 11g · Fees: other

    total $8,703 · management and general $8,703

  • 12 · Advertising and promotion

    total $10,500 · program services $10,000 · management and general $500

  • 13 · Office expenses

    total $8,630 · program services $964 · management and general $6,892 · fundraising $774

  • 14 · Information technology

    total $58,637 · program services $34,378 · management and general $24,259

  • 16 · Occupancy

    total $183,319 · program services $22,217 · management and general $161,102

  • 17 · Travel

    total $165,882 · program services $163,482 · management and general $1,829 · fundraising $571

  • 19 · Conferences, conventions and meetings

    total $213,606 · program services $213,480 · management and general $126

  • 22 · Depreciation, depletion and amortization

    total $1,313 · management and general $1,313

  • 23 · Insurance

    total $6,068 · management and general $6,068

  • 24a · Other expenses: RESEARCH

    total $348,140 · program services $348,140

  • 24b · Other expenses: CONTRACTOR EXPENSES

    total $280,592 · program services $205,792 · fundraising $74,800

  • 24c · Other expenses: GOVERNMENT RELATIONS

    total $135,621 · program services $135,621

  • 24d · Other expenses: VIDEO PRODUCTION

    total $67,303 · program services $67,303

  • 24e · All other expenses

    total $185,389 · program services $78,667 · management and general $95,146 · fundraising $11,576

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $303,329 · end of year $832,568

  • 4 · Accounts receivable

    beginning of year $1,126,403 · end of year $226,332

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,362 · end of year $19,678

  • 10a · Land, buildings and equipment: cost or other basis

    $7,234

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,527

  • 10c · Land, buildings and equipment, net

    beginning of year $4,020 · end of year $2,707

  • 14 · Intangible assets

    beginning of year $309,775 · end of year $309,776

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,344 · end of year $48,947

  • 24 · Unsecured notes and loans payable

    beginning of year $314,287 · end of year $314,287

  • 27 · Net assets without donor restrictions

    beginning of year -$33,259 · end of year $190,405

  • 28 · Net assets with donor restrictions

    beginning of year $1,453,517 · end of year $837,422

Mission and programs · 2024

Mission

THE FOUNDATION FOR RESEARCH ON EQUAL OPPORTUNITY SEEKS TO EXPAND ECONOMIC OPPORTUNITY TO THOSE WHO LEAST HAVE IT, USING THE TOOLS OF INDIVIDUAL LIBERTY, FREE ENTERPRISE, TECHNOLOGICAL INNOVATION, AND PLURALISM. FREOPP DEPLOYS THE NATION'S LEADING PUBLIC POLICY SCHOLARS TO SERVE THE 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 $272,960 · Revenue $1,111,000

  • 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 $432,388 · Revenue $275,000

  • 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 $217,593 · Revenue $498,925

  • Expenses $1,077,671

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ames Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Avik Roy

    PRESIDENT / BOARD MEMBER

    Total calculated
    $298,522
    From this org
    $287,536
    From related orgs
    $0
    Other
    $10,986
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,536
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,986
    Filer's total
    $298,522

  • Lanhee Chen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Vivek Ramaswamy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Bush

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    5

  • Michael Miltenberger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Frank Laukien

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Rebecca Atwood

    VICE PRESIDENT

    Total calculated
    $108,796
    From this org
    $103,377
    From related orgs
    $0
    Other
    $5,419
    Hours/week
    40

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
2024
Filed
27 August 2026
IRS schema version
2024v5.5
Source object
202642579349301424

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