NATIONAL EQUITY FUND INC (EIN 363490231) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1987

Legal Domicile

Principal Officer

MATTHEW REILEIN

Phone

3123600400

Tax Period

2023-01-01 to 2023-12-31

NATIONAL EQUITY FUND INC, founded in 1987, is a mid-sized nonprofit that reported $86.0M in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum.

Mission

NATIONAL EQUITY FUND'S MISSION IS TO CREATE AND DELIVER INNOVATIVE, COLLABORATIVE FINANCIAL SOLUTIONS TO EXPAND THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING. WE STRIVE TO BE A DIVERSE, EQUITABLE AND INCLUSIVE PLACE TO WORK SO THAT OUR TEAM HAS THE EXPERIENCE AND KNOWLEDGE TO EFFECTIVELY SUPPORT OUR PARTNERS AND COMMUNITIES. OUR VISION IS THAT ALL INDIVIDUALS AND FAMILIES ACROSS THE COUNTRY HAVE ACCESS TO STABLE, SAFE AND AFFORDABLE HOMES THAT PROVIDE A FOUNDATION FOR THEM TO REACH THEIR FULL POTENTIAL.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $81,909,278

Investment Income $2,473,113

Other Revenue $1,580,545

TOTAL REVENUE $85,962,936

Expense Breakdown

Grants Paid $17,537,575

Salaries & Benefits $47,794,735

Fundraising Expenses $0

Program Expenses $80,115,478

Other Expenses $24,708,401

TOTAL EXPENSES $90,040,711

Year-over-Year Comparison

	2023	2022	Change
Revenue	$85,962,936	$58,767,848	+0.5%
Expenses	$90,040,711	$82,608,491	+0.1%
Net Income	$-4,077,775	$-23,840,643	-0.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

225

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$7,609,260

Total Directors

$3,103,036

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW DITTON	DIRECTOR	1.90	Director	$5,000	$0	$5,000
EDWARD SIGLER	CHAIRMAN (AND DIRECTOR)	2.00	Officer Director	$15,000	$0	$15,000
ELDRIDGE EDGECOMBE	DIRECTOR	2.00	Director	$10,000	$0	$10,000
GARY ROZIER	DIRECTOR	2.00	Director	$6,000	$0	$6,000
HELEN DUNLAP	DIRECTOR	2.00	Director	$8,000	$0	$281,484
JANE GRAF	DIRECTOR	2.00	Director	$12,000	$0	$12,000
KRISTEN SWITZER	DIRECTOR	2.00	Director	$0	$0	$0
LISA GLOVER	OUTGOING VICE CHAIRMAN (AND DIRECTOR)	2.00	Officer Director	$0	$46,168	$728,705
MATTHEW REILEIN	PRESIDENT & CEO (AND DIRECTOR)	18.00	Officer Director	$1,003,040	$330,219	$1,333,259
MICHAEL MAY	DIRECTOR	7.00	Director	$31,000	$0	$31,000
MICHAEL PUGH	VICE CHAIRMAN (AND DIRECTOR)	2.00	Officer Director	$0	$1,627	$226,561
PATRICK NASH	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT COONEY	DIRECTOR	2.00	Director	$0	$81,268	$441,027
ROBERT MANTLE	DIRECTOR	2.00	Director	$0	$0	$0
SINDY SPIVAK	DIRECTOR	2.00	Director	$0	$0	$0
VICKY ARROYO	DIRECTOR	2.00	Director	$13,000	$0	$13,000
ALEX DENJA	SVP, COO, CFO	18.00	Officer	$774,334	$173,843	$948,177
JACLYN JACKSON	SVP CHIEF HUMAN RESOURCES OFFICER	40.00	Officer	$437,348	$134,328	$571,676
JUDY SCHNEIDER	SVP CHIEF RISK OFFICER	18.00	Officer	$691,752	$124,470	$816,222
MARK SIRANOVIC	SVP INVESTOR RELATIONS	18.00	Officer	$680,821	$125,706	$806,527
MICHAEL ROGERS	SVP GEN. COUNSEL & SECRETARY	18.00	Officer	$543,917	$58,490	$602,407
PETER HARRISON	SVP ASSET MANAGEMENT	18.00	Officer	$626,774	$137,993	$764,767
REENA BRAMBLETT	SVP EQUITY PLACEMENT	18.00	Officer	$682,508	$113,451	$795,959
ED SIMON	SVP/CIO	40.00	Highest	$578,863	$60,660	$639,523
EMILY CHEN	MANAGING DIRECTOR - EAST REGION	40.00	Highest	$582,324	$386,598	$968,922
KRISTEN SENFF	MANAGING DIRECTOR - CENTRAL REGION	40.00	Highest	$558,770	$457,710	$1,016,480
RACHEL RHODES	SVP, LIHTC PRODUCTION	40.00	Highest	$819,948	$475,413	$1,295,361
TODD FABIAN	MANAGING DIRECTOR - WEST REGION	40.00	Highest	$942,408	$452,483	$1,394,891
KEVIN BOES	FORMER SVP	0.00		$0	$63,844	$648,011

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$85,962,936	$90,040,711	$126,377,114	$-4,077,775
2022	$58,767,848	$82,608,491	$105,588,099	$-23,840,643
2021	$59,533,345	$85,349,142	$118,912,735	$-25,815,797
2020	$63,282,557	$70,825,279	$106,020,434	$-7,542,722
2019	$52,923,109	$68,583,075	$97,839,893	$-15,659,966
2018	$55,401,603	$61,139,710	$89,732,932	$-5,738,107

NATIONAL EQUITY FUND INC