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EFF IS A NONPROFIT SOCIAL IMPACT FUND THAT BELIEVES ALL CHILDREN DESERVE A QUALITY EDUCATION. WE EMPOWER HIGH-PERFORMING PUBLIC CHARTER SCHOOLS WITH EQUITABLE ACCESS TO LOW-COST, LONG-TERM FINANCING BY INNOVATIVELY COMBINING MISSION-RELATED INVESTMENTS AND CAPITAL MARKETS.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$134.9M
Program Spending
95%
of total expenses go to program services
Total Contributions
$68.2M
Total Expenses
▼$51.7M
Total Assets
$1.9B
Total Liabilities
▼$1.4B
Net Assets
$476.5M
Officer Compensation
→$2.2M
Other Salaries
$1M
Investment Income
$14.6M
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$40.1M
Awards Found
4
Department of Education
$20M
EQUITABLE FACILITIES FUND 2023 CREDIT ENHANCEMENT PROJECT
Department of Education
$12M
EQUITABLE FACILITIES FUND 2022 CREDIT ENHANCEMENT PROGRAM
Department of Education
$8M
CHARTER SCHOOLS PROGRAM GRANTS FOR CREDIT ENHANCEMENT FOR CHARTER SCHOOL FACILITIES
Department of the Treasury
$125K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) AND EMERGING CDFIS. ACTIVITIES TO BE PERFORMED: TECHNICAL ASSISTANCE MUST BE USED FOR THE FOLLOWING ELIGIBLE ACTIVITIES SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS: COMPENSATION ? PERSONAL SERVICES, COMPENSATION ? FRINGE BENEFITS, PROFESSIONAL SERVICE COSTS, TRAVEL COSTS, TRAINING AND EDUCATION COSTS, EQUIPMENT, SUPPLIES, AND INCORPORATION COSTS (SPONSORING ENTITIES ONLY). END GOAL/EXPECTED OUTCOMES: THE GOAL OF THE TECHNICAL ASSISTANCE IS TO BUILD CERTIFIED AND EMERGING CDFI?S ORGANIZATIONAL CAPACITY TO SERVE ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW-INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. INTENDED BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENT ACTIVITIES: ONLY IN THE CASE WHERE A CDFI DEPOSITORY INSTITUTION HOLDING COMPANY APPLICANT INTENDS TO CARRY OUT THE ACTIVITIES OF AN AWARD THROUGH ITS SUBSIDIARY CDFI INSURED DEPOSITORY INSTITUTION, AS IDENTIFIED IN ITS ASSISTANCE AGREEMENT WITH THE CDFI FUND.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
4
Clean Audits
4
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $40M | Yes | 2026-09-29 |
| 2024 | Clean | Unmodified (Clean) | $20M | Yes | 2025-09-19 |
| 2023 | Clean | Unmodified (Clean) | $20M | Yes | 2024-09-30 |
| 2022 | Clean | Unmodified (Clean) | $8M | No | 2023-09-29 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$40M
Financial Report
Unmodified (Clean)
Federal Expenditure
$20M
Financial Report
Unmodified (Clean)
Federal Expenditure
$20M
Financial Report
Unmodified (Clean)
Federal Expenditure
$8M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: SO
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $134.9M | $68.2M | $51.7M | $1.9B | $476.5M |
| 2023IRS e-File | $73.8M | $24.6M | $31.8M | $1.5B | $392M |
| 2022 | $109.6M | $78.2M | $24.6M | $1.2B | $347.2M |
| 2021 | $34.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Anand Kesavan | CEO | 40 | $596.7K | $0 | $16.8K | $613.5K |
| Michelle Getz | Chief Credit Officer | 40 | $275.9K | $0 | $22.7K | $298.6K |
| Jon Mcintosh | Chief Of Staff | 40 | $245.7K | $0 | $17.7K | $263.5K |
| Kevin Hall | Treasurer | 5 | $0 | $0 | $0 | $0 |
| Scott Pearson | Secretary | 5 | $0 | $0 | $0 | $0 |
| Buddy Philpot | Chairman | 5 | $0 | $0 | $0 | $0 |
Anand Kesavan
CEO
$613.5K
Hrs/Wk
40
Compensation
$596.7K
Related Orgs
$0
Other
$16.8K
Michelle Getz
Chief Credit Officer
$298.6K
Hrs/Wk
40
Compensation
$275.9K
Related Orgs
$0
Other
$22.7K
Jon Mcintosh
Chief Of Staff
$263.5K
Hrs/Wk
40
Compensation
$245.7K
Related Orgs
$0
Other
$17.7K
Kevin Hall
Treasurer
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Scott Pearson
Secretary
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Buddy Philpot
Chairman
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Marc Wancer | Investment Principal | 40 | $226.4K | $0 | $13.9K | $240.3K |
| Shawn Mccormack | Investment Principal | 40 | $218.6K | $0 | $21.1K | $239.7K |
| Wendy Berry | Investment Principal | 40 | $220.8K | $0 | $18.7K |
Marc Wancer
Investment Principal
$240.3K
Hrs/Wk
40
Compensation
$226.4K
Related Orgs
$0
Other
$13.9K
Shawn Mccormack
Investment Principal
$239.7K
Hrs/Wk
40
Compensation
$218.6K
Related Orgs
$0
Other
$21.1K
Wendy Berry
Investment Principal
$239.6K
Hrs/Wk
40
Compensation
$220.8K
Related Orgs
$0
Other
$18.7K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Aarthi Sowrirajan | Director | 5 | $0 | $0 | $0 | $0 |
| Nguyen Huyhn | Director | 5 | $0 | $0 | $0 | $0 |
Aarthi Sowrirajan
Director
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Nguyen Huyhn
Director
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Individuals who previously served as officers or key employees.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Mike Mcgregor | Chief Operations Officer | 40 | $481.3K | $0 | $15.8K | $497.1K |
Mike Mcgregor
Chief Operations Officer
$497.1K
Hrs/Wk
40
Compensation
$481.3K
Related Orgs
$0
Other
$15.8K
| $15.8M |
| $15M |
| $843.8M |
| $263.6M |
| 2020 | $48.3M | $37.2M | $9.6M | $575.5M | $242.3M |
| 2019 | $11.4M | $4.3M | $5M | $338.8M | $206.2M |
| 2018 | $154M | $153.3M | $1.9M | $152.6M | $152.3M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| $239.6K |