Equitable Facilities Fund

Legal name: Eff Community Ventures Inc

Nonprofit profile at a glance

EIN
992091921
IRS 990 coverage
2024–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
5625333043
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,248,442
Expenses
$266,702
Assets
$13,245,201
Liabilities
$12,263,461

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BUDDY PHILPOT (PRESIDENT)

Highest reported compensation

  • ANAND KESAVAN (SECRETARY): $613,477 total reported compensation
  • MICHELLE GETZOV (ASSISTANT SECRETARY): $298,604 total reported compensation
  • JON MCINTOSH (CHIEF OF STAFF): $243,452 total reported compensation

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

Overview

Mission

Equitable Facilities Fund supports high-performing public charter schools by providing low-cost, short-term and long-term, fixed-rate loans (including 30-year fixed-rate financing) to help schools create educational opportunity for communities that need it most, including financing to partner charter schools/charter management organizations throughout the United States where permitted by law.

What it reported doing in 2024

Eff community ventures, inc. Leverages donations and other philanthropic funding received with low-cost debt it obtains to provide funding to charter schools for purchases or upgrades to facilities at rates and terms more favorable than available in the corporate lending and banking markets. The design, implementation, structuring, and maintenance of this new source of capital for charter school facilities leads to improved public education for children.

Operating model

Revenue model
Affiliate-supported. 80% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 65
  • Accountability: 31
  • Sustainability: 77
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.8%; rating input score 20
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 78.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 49.66; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 21.5%; rating input score 13; 13th percentile among comparable filings

Growth

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

Details

  • What they do: 1 operating location identified
  • Where the money goes: 19.8% of revenue deployed · 92.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $247K in reported program spending
  • Leadership: top reported pay $613K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 20/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.