Equable Institute
- Assets
- $702.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Queens, NY
- Founding
- 08/2018
- Data as of
- 12/2022
- EIN
- 82-3988188
Organization Overview
Equable Institute is located in Queens, NY. The organization was established in 2018. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 12/2022, Equable Institute employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Equable Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Equable Institute generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (27.3%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (22.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Equable Institute has awarded 13 individual grants totaling $1,353,539. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EQUABLE IS A NON-PROFIT ORGANIZATION THAT EDUCATES AND INFORMS EMPLOYEES, RETIREES, AND OTHER STAKEHOLDERS ABOUT HOW TO CREATE REAL RETIREMENT PLAN SUSTAINABILITY AND ACCOUNTABILITY WITHOUT SACRIFICING FUTURE INCOME SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EQUABLE HELPED PUBLIC SECTOR RETIREMENT SYSTEM STAKEHOLDERS IN MULTIPLE STATES BETTER UNDERSTAND EXISTING SUSTAINABILITY CHALLENGES IN THEIR STATE BY CONDUCTING HISTORIC ANALYSIS, DEVELOPING ACADEMIC RESEARCH, AND PROVIDING TECHNICAL ASSISTANCE RELATED TO FORECASTING THE FUTURE PERFORMANCE OF PLAN FUNDING AND CONTRIBUTION RATES. IN ADDITION, EQUABLE HELPED PUBLIC SECTOR RETIREMENT SYSTEM STAKEHOLDERS WITH ESTIMATING THE EFFECTS THAT VARIOUS CHANGES WOULD HAVE TO LONG-TERM SUSTAINABILITY, SOLVENCY, AND RETIREMENT SECURITY OF THOSE SYSTEMS. EQUABLE ALSO EXPANDED ITS FREE EDUCATIONAL SERVICE FOR PUBLIC SCHOOL EMPLOYEES TO BETTER UNDERSTAND HOW THEIR RETIREMENT BENEFITS WORK TO HELP IMPROVE FINANCIAL LITERACY AND EMPOWER EDUCATORS TO ENSURE THEIR RETIREMENT INCOME SECURITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Liljenquist Director | Trustee | 0.25 | $0 |
Richard Ravitch Director | Trustee | 0.25 | $0 |
Pete Constant Secretary | OfficerTrustee | 0.25 | $0 |
Lois Scott Treasurer | OfficerTrustee | 0.25 | $0 |
Josh Mcgee Chairman | OfficerTrustee | 0.25 | $0 |
Anthony M Randazzo Executive Director | Officer | 40 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,080,027 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,080,027 |
| Total Program Service Revenue | $26,380 |
| Investment income | $74 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,106,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $220,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $433,778 |
| Pension plan accruals and contributions | $33,773 |
| Other employee benefits | $45,127 |
| Payroll taxes | $48,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,434 |
| Fees for services: Accounting | $60,091 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,704 |
| Advertising and promotion | $0 |
| Office expenses | $1,104 |
| Information technology | $44,333 |
| Royalties | $0 |
| Occupancy | $2,791 |
| Travel | $17,149 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $189 |
| Total functional expenses | $1,048,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $702,801 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $702,801 |
| Accounts payable and accrued expenses | $19,681 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,681 |
| Net assets without donor restrictions | -$414,662 |
| Net assets with donor restrictions | $1,097,782 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $702,801 |
Grants Awarded
Over the last fiscal year, Equable Institute has awarded $670,126 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BELLWETHER EDUCATION PARTNERS PURPOSE: Grant 001 - To support Bellwether's teacher benefit modeling and technical assistance work as part of the state-specific teams working to achieve retirement system sustainability and affordability, and the capacity for retirement systems to support income security. Grant 007 - To support Bellwether's work in the first of two phases of work on teacher pensions, culminating in a partnership with U.S. News & World Report to create a magazine-style ranking of state-run teacher retirement systems. | $64,728 |
NEW YORK UNIVERSITY PURPOSE: To support NYU's project which will analyze cost and risks of the New York City Teachers' Retirement Sustem under current policies and under potential alternative policies. | $22,181 |
ARIZONA STATE UNIVERSITY PURPOSE: For the development of a multimedia platform to engage retirement system stakeholders in a collaborative problem solving process. | $48,217 |
THE REASON FOUNDATION PURPOSE: For Reason's project to advance its technical assistance work to support reform efforts in six states. | $520,000 |
GEORGETOWN UNIVERSITY PURPOSE: To develop research related to the effects of public sector unfunded liabilities on compensation of public school employees. | $15,000 |