Fund for Social Equity Inc

Nonprofit profile at a glance

EIN
920303560
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Mendham, NJ, USA
Phone
9088874082
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Intergroup, Race Relations

Reported finances

Revenue
$39,500
Expenses
$40,506
Assets
$624
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • JENNIFER KOIDE (OFFICER)
  • KAREN KOIDE (OFFICER)
  • MARK KOIDE (OFFICER)

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

To close the wealth gap between white americans and non-white americans, with a particular emphasis on historically disadvantaged racial and ethnic groups or minority populations. To perform research related to closing the racial wealth gap in america. To create a social brand and certification to educate the public about sectors, companies, organizations, brands and other groups that adhere to objective standards developed to narrow the income gap. To encourage the general public to bring non community revenue into historically disadvantaged communities while developing a virtuous circle of community level industries and local economies. To educate the general public about the racial wealth gap in america, including through publications and presentations addressing this topic.

What it reported doing in 2024

To perform research related to closing the racial wealth gap in america. To create a social brand and certification to educate the public about sectors, companies, organizations, brands and other groups that adhere to objective standards developed to narrow the income gap. To encourage the general public to bring non community revenue into historically disadvantaged communities while developing a virtuous circle of community level industries and local economies. To educate the general public about the racial wealth gap in america, including through publications and presentations addressing this topic.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 41
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.2%; rating input score 95
  • Program expense ratio: 92.9%; rating input score 93
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.5%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -16.7% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -18.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 41.5% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 95.2% of revenue deployed · 92.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $38K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Review — Sustainability: Operating margin scored 52/100.