National Equity Fund Inc
Chicago, IL 60661 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $85,480,265 | $93,522,251 | $35,114,711 |
| FY2023 | $85,962,936 | $90,040,711 | $34,760,757 |
| FY2022 | $58,767,848 | $82,608,491 | $30,842,212 |
| FY2021 | $59,533,345 | $85,349,142 | $39,682,855 |
| FY2020 | $63,282,557 | $70,825,279 | $50,496,466 |
| FY2019 | $52,923,109 | $68,583,075 | $49,048,421 |
| FY2018 | $55,401,603 | $61,139,710 | $46,133,384 |
| FY2017 | $49,385,594 | $56,345,236 | $32,589,150 |
| FY2016 | $51,317,523 | $54,146,338 | $38,086,292 |
| FY2015 | $55,675,713 | $52,709,587 | $37,930,407 |
| FY2014 | $44,489,284 | $45,791,389 | $34,996,691 |
| FY2013 | $35,745,570 | $40,865,086 | $33,334,513 |
| FY2012 | $37,732,907 | $44,451,007 | $30,587,490 |
| FY2011 | $34,700,961 | $50,657,342 | $27,640,272 |
Form 990 filings
The returns filed by National Equity Fund Inc (EIN 36-3490231), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $81,743,367 | 96% |
| Other revenue | $3,736,898 | 4% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $81,958,530 | 88% |
| Management & general | $11,563,721 | 12% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 96% of total revenue in FY2024.
- Program services accounted for 88% of functional expenses, management & general 12%, and fundraising 0%.
- 88% of functional expenses went to program services in FY2024.
- Net assets covered about 4.5 months of expenses at the end of the reporting year.
- Total revenue rose from $34,700,961 in FY2011 to $85,480,265 in FY2024. Revenue increased in 6 and decreased in 7 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 13 of 14 reported years (FY2011, FY2012, FY2013, FY2014, FY2016, FY2017, FY2018, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024).
- The highest revenue on record here is $85,962,936 in FY2023.
- Net assets grew from $27,640,272 to $35,114,711 between FY2011 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
NATIONAL EQUITY FUND'S MISSION IS TO CREATE AND DELIVER INNOVATIVE, COLLABORATIVE FINANCIAL SOLUTIONS TO EXPAND THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING. WE ENVISION A SOCIETY WHERE INCREASED ACCESS TO AFFORDABLE HOUSING EMPOWERS EVERY INDIVIDUAL AND FAMILY TO REACH THEIR FULL POTENTIAL.
IRS status
| Ruling year | 0000 |
| Subsection | 501(c)(4) |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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