Economic Opportunity Fund

Nonprofit profile at a glance

EIN
992078540
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Washington, DC, USA
Phone
2023811198
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Reported finances

Revenue
$1,022,929
Expenses
$79,771
Assets
$969,688
Liabilities
$26,530

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JAY HOWSER (PRESIDENT)

People named in this filing

  • JAY HOWSER (PRESIDENT)
  • MICHELLE KLEPPE-WELLDE (TREASURER)
  • DANIEL SCHWERIN (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Broaden economic opportunity for all americans by building a strong, resilient middle class.

What it reported doing in 2024

Civic engagement: america is strongest when more people are engaged in voting, supporting democratic institutions, and engaging in their communities.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, and 48% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 90
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.2%; rating input score 8
  • Program expense ratio: 78%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 92.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 12.16; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 8.2% of revenue deployed · 78% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $62K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.