Nonprofit · EIN 82-2116378
BUILDING EQUITY INITIATIVE INC
Tax-exempt · NEW YORK, NY 10014
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $9,649,843 | $8,224,520 | $1,425,323 | $228,212,427 | $215,661,330 | $12,551,097 |
| December 31, 2023 | 990 | $19,001,730 | $7,632,794 | $11,368,936 | $186,804,831 | $175,169,493 | $11,635,338 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $567,550
- of which government grants
- $567,550
- Program service revenue
- $7,964,083
- Investment income
- $1,118,210
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $56,976
- Accounting fees
- $98,996
- Depreciation
- $214,191
- Program services (functional)
- $8,053,201
- Management and general (functional)
- $171,319
Balance sheet and other
- Total assets, start of year
- $186,804,831
- Total assets, end of year
- $228,212,427
- Total liabilities, end of year
- $215,661,330
- Net assets, end of year
- $12,551,097
- Net assets without donor restrictions
- -$16,453
- Net assets with donor restrictions
- $12,567,550
- Gross receipts
- $9,649,843
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2017
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BUDDY PHILPOT | PRESIDENT Trustee or director, Officer | 4 | $0 |
| BRAHM CRAMER | TREASURER Trustee or director, Officer | 4 | $0 |
| SCOTT PEARSON | SECRETARY Trustee or director, Officer | 4 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BUDDY PHILPOT | PRESIDENT Trustee or director, Officer | 4 | $0 |
| BRAHM CRAMER | TREASURER Trustee or director, Officer | 4 | $0 |
| SCOTT PEARSON | SECRETARY Trustee or director, Officer | 4 | $0 |
Address and contacts
- Address (IRS master file)
- 180 VARICK ST RM 1414, NEW YORK, NY 10014-5872
- In care of
- % CIVIC BUILDERS INC
- Principal officer (990 for 2024)
- BUDDY PHILPOT, 180 VARICK STREET 1414, NEW YORK, NY 10014
- Signed the 990
- BRAHM CRAMER, TREASURER
- Phone
- (212) 571-7260
- Return prepared by
- PKF O'CONNOR DAVIES ADVISORY LLC
Mission
BCF WAS ESTABLISHED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF CIVIC BUILDERS, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION, NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS, A COLORADO NOT-FOR-PROFIT CORPORATION, AND SUCH OTHER QUALIFIED PUBLIC CHARITIES THAT EXIST TO SUPPORT CHARTER SCHOOL FACILITIES AS BCF'S MEMBERS AND BOARD OF DIRECTORS MAY DESIGNATE FROM TIME TO TIME.
Program accomplishments
- IN 2024, THE FACILITIES INVESTMENT FUND COMMITTED APPROXIMATELY $31.6 MILLION DOLLARS TO NEW CHARTER SCHOOL PROJECTS WHICH WILL SERVE 1,567 CHARTER SCHOOL STUDENTS.Expenses $8,053,201 · revenue $7,964,083
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 82-2116378
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2017
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $228,212,427
- Income (IRS master file)
- $9,649,843
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $9,649,843 | $8,224,520 | $228,212,427 | IRS |
| 990 | December 2023 | $19,001,730 | $7,632,794 | $186,804,831 | XML |
| 990 | December 2022 | $4,870,506 | $5,422,522 | $127,614,696 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 82-2116378).
Questions about BUILDING EQUITY INITIATIVE INC
- What is the EIN of BUILDING EQUITY INITIATIVE INC?
- The employer identification number (EIN) of BUILDING EQUITY INITIATIVE INC is 82-2116378.
- Is BUILDING EQUITY INITIATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to BUILDING EQUITY INITIATIVE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does BUILDING EQUITY INITIATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BUILDING EQUITY INITIATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUILDING EQUITY INITIATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of BUILDING EQUITY INITIATIVE INC?
- The 990 for the year ended December 31, 2024 names BUDDY PHILPOT.
- Who are the officers and directors of BUILDING EQUITY INITIATIVE INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does BUILDING EQUITY INITIATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $9,649,843, expenses of $8,224,520 and total assets of $228,212,427 at year end.
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