Fund for Economic Independence

Nonprofit profile at a glance

EIN
993556680
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Alexandria, VA, USA
Phone
2028139118
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,000,000
Expenses
$480,405
Assets
$519,595
Liabilities
$0

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

Leadership & pay

3 people listed

Highest reported compensation

  • NICOLE KELLY (DirectorExec Dir): $65,000 total reported compensation

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

Overview

Mission

The corporation engages in public education and advocacy efforts regarding the policies and issues surrounding economic independence.

What it reported doing in 2024

Public Education and Issue Advocacy Through targeted digital and traditional media campaigns, we reached millions of Americans with educational content on pressing policy challenges. We launched public awareness initiatives that highlighted the real-world impacts of proposed legislation, regulatory changes, and the impact of leadership.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - 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: 55
  • Transparency & Controls: 100
  • Accountability: 55
  • Sustainability: 71
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.9%; rating input score 44
  • Program expense ratio: 91.4%; rating input score 91
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 52%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 26; 26th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 43.9% of revenue deployed · 91.4% of spending went to programs
  • Governance: 1 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $439K in reported program spending
  • Leadership: top reported pay $65K · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.