Equip for Equality

What it reported doing in 2024

Rep payee program the federal strengthening protections for social security beneficiaries act of 2018 empowers state p&as, including efe, to conduct performance reviews of representative payees to determine if beneficiary funds are properly safeguarded and to ensure beneficiary needs are met. The act also directs the organization to conduct outreach and educational trainings to ensure that payees understand their duties and responsibilities.if efe's detailed review finds that the payee is not carrying out its duties, corrective action(s) may be needed for the payee to continue to manage the beneficiary's money. Once all corrective actions are implemented, or if the review finds that no corrective action is needed, the payee is notified that the review is complete.as a result of these reviews, efe helps payees understand their roles and responsibilities and ensures that beneficiary needs are met. Efe also alerts the social security administration (ssa) when a payee is not acting in a beneficiary's best interest, sometimes leading to the removal of the payee. Finally, efe also alerts ssa and other investigating agencies if abuse, neglect, or financial exploitation is uncovered during a review. As part of this, efe has filed complaints with a variety of state and federal agencies, such as the veterans administration, and the Illinois department of public health, the Illinois department of human services, the Illinois department on aging - adult protective services and others. Our complaints have resulted in license revocation of some payees and termination of state funding.

Financial Efficiency

• Mission deployment rate: 76.1%; rating input score 76
• Program expense ratio: 78%; rating input score 78
• Fundraising efficiency: $171.94 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• 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: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: Pass

Sustainability

• Operating margin: 2.6%; rating input score 43; 43rd percentile among comparable filings
• Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
• Liabilities to assets ratio: 0.33; rating input score 32; 32nd percentile among comparable filings
• Officer compensation ratio: 15.2%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 5.3% per year; rating input score 100; 42nd percentile among comparable filings
• Revenue growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
• Asset growth: 7% per year; rating input score 100; 45th percentile among comparable filings