Foundation For Economic Education Inc
- Assets
- $13.1m
- Revenue
- $7.4m
- Investments
- $4.0m
- Employees
- 41
- Location
- Atlanta, GA
- Founding
- 04/1947
- Data as of
- 03/2022
- EIN
- 13-6006960
Organization Overview
Foundation For Economic Education Inc is located in Atlanta, GA. The organization was established in 1947. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 03/2022, Foundation For Economic Education Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Economic Education Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Foundation For Economic Education Inc generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $6.2m during the year ending 03/2022. While expenses have increased by 7.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND EDUCATE IN THE PRINCIPLES OF SOUND ECONOMICS
Describe the Organization's Program Activity:
SEMINARS AND LECTURES - PROMOTING ENTREPRENEURSHIP, SELF-RESPONSIBILITY, AND A GENERAL UNDERSTANDING OF ECONOMICS AND SOUND PUBLIC POLICY.
BOOKS AND PUBLICATIONS - THE DISSEMINATION OF THE RESULTS OF RESEARCH AND STUDY IN THE FIELD OF ECONOMICS AND THE RELATED BRANCHES OF THE SOCIAL SCIENCES.
WEBSITE OUTREACH - PROMOTING THE STUDY OF FREE-MARKET ECONOMICS AND THE PHILOSOPHY OF SELF-RESPONSIBILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zilvinas Silenas President | Officer | 40 | $177,937 |
Richard Lorenc Executive VP Through 10/31/21 | Officer | 40 | $148,828 |
Sean Malone Creative Director | 40 | $113,578 | |
Dan Sanchez Director Of Content | 40 | $108,370 | |
Lawrence Reed President Emeritus | 40 | $106,407 | |
Tekoa Coleman Director Of Entreprenurial Education | 40 | $105,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hyatt Regency Atlanta Event Venue | 3/30/20 | $312,722 |
American Philanthropic Llc Fundraising Counsel | 3/30/20 | $233,329 |
On Services Event Av Services | 3/30/20 | $159,083 |
Brad Ketchum Iii Printing Services | 3/30/20 | $198,833 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,393,075 |
| Noncash contributions included in lines 1a–1f | $130,028 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,393,075 |
| Total Program Service Revenue | $0 |
| Investment income | $78,272 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $63,747 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $84,392 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$18,788 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,371,269 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $335,326 |
| Compensation of current officers, directors, key employees. | $16,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,206,986 |
| Pension plan accruals and contributions | $33,927 |
| Other employee benefits | $136,626 |
| Payroll taxes | $193,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,956 |
| Fees for services: Accounting | $25,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $271,973 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $585,567 |
| Advertising and promotion | $0 |
| Office expenses | $496,705 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $208,056 |
| Travel | $167,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,195,687 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,815 |
| Insurance | $31,467 |
| All other expenses | $0 |
| Total functional expenses | $6,207,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $745,573 |
| Savings and temporary cash investments | $500 |
| Pledges and grants receivable | $75,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $169,287 |
| Prepaid expenses and deferred charges | $99,752 |
| Net Land, buildings, and equipment | $62,389 |
| Investments—publicly traded securities | $6,154,292 |
| Investments—other securities | $4,028,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,775,864 |
| Total assets | $13,111,057 |
| Accounts payable and accrued expenses | $653,966 |
| Grants payable | $0 |
| Deferred revenue | $126,252 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $99,191 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $879,409 |
| Net assets without donor restrictions | $9,139,400 |
| Net assets with donor restrictions | $3,092,248 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,111,057 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Foundation For Economic Education Inc has recieved totaling $55,000.
| Awarding Organization | Amount |
|---|---|
Atlas Economic Research Foundation Arlington, VA PURPOSE: Economic Education | $30,000 |
Bartley J Madden Foundation Naples, FL PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
Offerdahl Family Foundation Incline Village, NV PURPOSE: TO INSPIRE, EDUCATE, AND CONNECT FUTURE LEADERS WITH THE ECONOMIC, ETHICAL, AND LEGAL PRINCIPLES OF A FREE SOCIETY. | $5,000 |
Endowment Analysis
| Beg. Balance | $2,838,274 |
| Earnings | -$231,517 |
| Other Expense | $221,589 |
| Ending Balance | $2,385,168 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Economic Education Inc Atlanta, GA | $13,111,057 | $7,371,269 |
Ludwig Von Mises Institute For Austrian Economics Inc Auburn, AL | $45,587,383 | $8,440,639 |
Imagine North Carolina First Raleigh, NC | $1,746,999 | $4,219,239 |
Georgia Council On Economic Education atlanta, GA | $6,404,945 | $1,048,495 |
Florida Council On Economic Education Inc Tampa, FL | $802,439 | $754,663 |
North Carolina Council On Economic Education Raleigh, NC | $457,101 | $705,975 |
South Carolina Council On Economic Education Columbia, SC | $503,604 | $545,395 |
Independent Banks Of South Carolina Chapin, SC | $604,989 | $525,171 |
Atlantic Economic Society Atlanta, GA | $82,236 | $186,565 |
Alabama Council On Economic Education Inc Birmingham, AL | $154,124 | $0 |
Accounting Research Association Inc Durham, NC | $101,953 | $0 |
Economic Club Of Tampa Inc Tampa, FL | $44,771 | $0 |