NATIONAL EQUITY FUND INC Charity Report

Public IRS 990 nonprofit record

NATIONAL EQUITY FUND INC

EIN 36-3490231 · Health Care (E)

What they do

NATIONAL EQUITY FUNDS 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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $87.60 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders32 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

95.88%of revenue went to mission work87.6% of expenses · Program services

$109.41spent for every $100 of revenueSpending was higher than revenue this year.

13.53%of revenue went to management and office costs12.4% of expenses

$1.31in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $8,041,986 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $1,557,831 for MATTHEW REILEIN (PRESIDENT & CEO (AND DIRECTOR)). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$85,480,265

Mission workProgram services$81,958,53095.88% of revenue87.6% of expenses

ManagementOffice and general costs$11,563,72113.53% of revenue12.4% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Total expenses$93,522,251109.41% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 87.6% mission · 12.4% management · 0.0% fundraisingTotal expenses: 109.41% of revenue

2023Expense mix: 89.0% mission · 11.0% management · 0.0% fundraisingTotal expenses: 104.74% of revenue

2022Expense mix: 87.5% mission · 12.5% management · 0.0% fundraisingTotal expenses: 140.57% of revenue

2021Expense mix: 88.2% mission · 11.8% management · 0.0% fundraisingTotal expenses: 143.36% of revenue

2020Expense mix: 86.8% mission · 13.2% management · 0.0% fundraisingTotal expenses: 111.92% of revenue

2019Expense mix: 88.7% mission · 11.3% management · 0.0% fundraisingTotal expenses: 129.59% of revenue

2018Expense mix: 88.1% mission · 11.9% management · 0.0% fundraisingTotal expenses: 110.36% of revenue

2017Expense mix: 85.7% mission · 14.3% management · 0.0% fundraisingTotal expenses: 114.09% of revenue

Money in and money out

Revenue$85,480,265

Expenses$93,522,251

Annual shortfall $8,041,986 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$81,958,530 · 87.6% of expenses

Management and office costs$11,563,721 · 12.4% of expenses

See all reported dollar amounts

Revenue$85,480,265

Expenses$93,522,251

Assets$122,158,786

Income$85,480,265

Mission work (program services)$81,958,530

Grants given$123,251,049

Average grant$1,484,952

Management and general$11,563,721

Accounting fees$436,048

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

MATTHEW REILEINPRESIDENT & CEO (AND DIRECTOR) · 18 hrs/week $1,557,831Base $1,177,767 · Other $380,064

TODD FABIANMANAGING DIRECTOR - WEST REGION · 40 hrs/week $1,244,046Base $647,858 · Other $596,188

KRISTEN SENFFMANAGING DIRECTOR - CENTRAL REGION · 40 hrs/week $1,088,216Base $641,820 · Other $446,396

RACHEL RHODESSVP, LIHTC PRODUCTION · 40 hrs/week $1,026,232Base $683,183 · Other $343,049

ALEX DENJASVP, COO, CFO · 18 hrs/week $1,021,086Base $822,313 · Other $198,773

EMILY CHENMANAGING DIRECTOR - EAST REGION · 40 hrs/week $909,669Base $564,136 · Other $345,533

REENA BRAMBLETTSVP, CHIEF OF PRODUCTION · 18 hrs/week $881,150Base $756,328 · Other $124,822

JUDY SCHNEIDERSVP, CHIEF CREDIT & RISK OFFICER · 18 hrs/week $832,106Base $689,613 · Other $142,493

MARK SIRANOVICSVP, CAPITAL MARKETS · 18 hrs/week $818,451Base $676,909 · Other $141,542

PETER HARRISONSVP, ASSET MANAGEMENT · 18 hrs/week $775,972Base $625,598 · Other $150,374

JACLYN JACKSONSVP, CHIEF ADMINISTRATIVE OFFICER · 18 hrs/week $698,951Base $532,385 · Other $166,566

ED SIMONSVP/CIO · 40 hrs/week $639,876Base $575,151 · Other $64,725

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (32)

MATTHEW REILEINPRESIDENT & CEO (AND DIRECTOR)

TODD FABIANMANAGING DIRECTOR - WEST REGION

KRISTEN SENFFMANAGING DIRECTOR - CENTRAL REGION

RACHEL RHODESSVP, LIHTC PRODUCTION

ALEX DENJASVP, COO, CFO

EMILY CHENMANAGING DIRECTOR - EAST REGION

REENA BRAMBLETTSVP, CHIEF OF PRODUCTION

JUDY SCHNEIDERSVP, CHIEF CREDIT & RISK OFFICER

MARK SIRANOVICSVP, CAPITAL MARKETS

PETER HARRISONSVP, ASSET MANAGEMENT

JACLYN JACKSONSVP, CHIEF ADMINISTRATIVE OFFICER

ED SIMONSVP/CIO

MICHAEL ROGERSSVP, GEN. COUNSEL & SECRETARY

DARYL SHORESVP, STRUCTURED FINANCE

KEVIN BOESFORMER SVP

MICHAEL PUGHVICE CHAIRMAN (AND DIRECTOR)

ROBERT COONEYDIRECTOR

MICHAEL MAYDIRECTOR

EDWARD SIGLERDIRECTOR

VICKY ARROYODIRECTOR

VIOLET CLARKEDIRECTOR

AL MORISATODIRECTOR

LISA GLOVERDIRECTOR

ELDRIDGE EDGECOMBEDIRECTOR

JANE GRAFDIRECTOR

GARY ROZIERDIRECTOR

ANDREW DITTONCHAIRMAN (AND DIRECTOR)

PRIYA JAYACHANDRANDIRECTOR

HELEN DUNLAPDIRECTOR

KRISTEN SWITZERDIRECTOR

ROBERT MANTLEDIRECTOR

SINDY SPIVAKDIRECTOR

About this charity

Location: 540 W MADISON ST SUITE 1900, CHICAGO, IL 60661
County: Cook
In care of: ALEX DENJA
Primary officer: ALEX DENJA, SVP, COO, CFO

How to reach them

WebsiteVisit the charity’s website Phone(312) 360-0400

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: COHNREZNICK ADVISORY LLC
NTEE classification: Health Care (E)
IRS tax category: Health Care
Grant-giving organization: Yes