EQUAL CHANCE FOR EDUCATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

RAQUEL OLUYEMO

Phone

7132087595

Tax Period

2022-07-01 to 2023-06-30

EQUAL CHANCE FOR EDUCATION, founded in 2014, is a community nonprofit in the Education sector that reported $2.0M in total revenue in fiscal year 2022. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $1.8M left a modest 10% surplus.

Mission

OUR GOAL IS TO PROVIDE AN EQUAL OPPORTUNITY TO ACHIEVE THE AMERICAN DREAM THROUGH THE COMPLETION OF A COLLEGE EDUCATION BY PROVIDING DIRECT PAYMENT SCHOLARSHIPS TO EDUCATION INSTITUTIONS.

Program Service Accomplishments

Program 1

Expenses: $1,650,479

ECE PROVIDES PROGRAMMING, MENTORSHIP, CAREER GUIDANCE AND SCHOLARSHIPS IN PARTNERSHIP WITH COLLEGES AND UNIVERSITIES ACROSS THE STATE OF TN. PARTNER COLLEGES PROVIDE A NEGOTIATED INSTITUTIONAL RATE FOR ECE SCHOLARS TO CREATE PATHWAYS FOR COLLEGE PERSISTENCE. EACH ECE SCHOLARSHIP IS 6,250, THE ECE SCHOLAR AND FAMILY ARE ASKED TO CONTRIBUTE 4,000 TOWARD TUITION, AND THE PARTNER COLLEGE PROVIDES INSTITUTIONAL FUNDING TOWARD THE REMAINING BALANCE, ON AVERAGE THIS IS AN IN-KIND GIFT OF 21,000 PER STUDENT PER YEAR. ECE COMMITS TO SUPPORTING SCHOLARS BEYOND THE SCHOLARSHIP DOLLARS BY CREATING PROGRAMMING AND PROVIDING RESOURCES TO RETAIN AND FOSTER CAREER READY GRADUATES.

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Trantor Score

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

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,899,222

Program Service Revenue $0

Investment Income $-1,659

Other Revenue $122,598

TOTAL REVENUE $2,020,161

Expense Breakdown

Grants Paid $1,582,622

Salaries & Benefits $153,991

Fundraising Expenses $86,236

Program Expenses $1,650,479

Other Expenses $79,367

TOTAL EXPENSES $1,815,980

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,020,161	$1,797,877	+0.1%
Expenses	$1,815,980	$1,830,352	0.0%
Net Income	$204,181	$-32,475	-7.3%

Key Indicators

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

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Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

Volunteers

109

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

$90,000

Total Directors