Employee Ownership Foundation Inc
- Assets
- $2.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/1994
- Data as of
- 12/2023
- EIN
- 52-1739193
Organization Overview
Employee Ownership Foundation Inc is located in Washington, DC. The organization was established in 1994. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Employee Ownership Foundation 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 12/2023, Employee Ownership Foundation Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $931.4k during the year ending 12/2023. While expenses have increased by 8.6% per year over the past 9 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.
Since 2015, Employee Ownership Foundation Inc has awarded 17 individual grants totaling $1,302,901. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EMPLOYEE OWNERSHIP FOUNDATION'S (EOF'S) PRIMARY PURPOSE IS TO INCREASE THE NUMBER OF EMPLOYEE OWNED BUSINESSES THROUGH AWARENESS, RESEARCH AND PUBLIC OUTREACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SPONSORS A CERTIFICATE PROGRAM, THAT IS CO-SPONSORED WITH THE UNIVERSITY OF PENNSYLVANIA'S SCHOOL OF SOCIAL POLICY AND PRACTICE, FOR CEO'S AND CEO DESIGNEES OF EMPLOYEE OWNED COMPANIES. THE PROGRAM INVOICES 9 DAYS OVER TWO WEEKS OF CLASSROOM WORK LED BY FACULTY OF THE UNIVERSITY OF PENNSYLVANIA, AND WITH SESSIONS LED BY PROMINENT FACULTY MEMBERS OF OTHER MAJOR ACADEMIC UNIVERSITIES LOCATED IN THE EASTERN PART OF THE US.
THE FOUNDATION SPONSORS VARIOUS EVENTS AND SCHOLARSHIPS.
THE FOUNDATION WAS THE LEAD SPONSOR OF THE 8TH ANNUAL OXFORD SYMPOSIUM ON EMPLOYEE OWNERSHIP. THE SYMPOSIUM IS AN ANNUAL GATHERING OF TOP LEADERS, STAKEHOLDERS, AND GOVERNMENT OFFICIALS IN THE INTERNATIONAL EMPLOYEE OWNERSHIP MOVEMENT FROM MORE THAN 80 COUNTRIES. THE 2 DAY PROGRAM WAS HELD AT OXFORD UNIVERSITY, THE OVER 60 ATTENDEES INCLUDED GOVERNMENT OFFICIALS, PRACTIONERS, AND EMPLOYEE OWNERS.
THE FOUNDATION SPONSORS THE ESOP EMPLOYEE ACCELERATOR PROGRAM TO DEVELOP CULTURE OF OWNERSHIP AMONG EMPLOYEES. THIS ONE-DAY PROGRAM TEACHES LIFELONG BUSINESS AND ESOP KNOWLEDGE AND HELPS EMPLOYEES THINK AND ACT LIKE THE OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Bonham President & CEO | Officer | 5 | $68,880 |
Kristie Mark COO | 10 | $76,522 | |
David Fitz-Gerald Chair - As Of 5/2023 | OfficerTrustee | 1 | $0 |
Cindy Turcot Immediate Past Chair - As Of 5/2023 | OfficerTrustee | 1 | $0 |
Mark Lomele Immediate Past Chair - Until 4/2023 | OfficerTrustee | 1 | $0 |
Steve Earle Secretary/treasurer - As Of 5/2023 | OfficerTrustee | 1 | $0 |
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 | $754,806 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $754,806 |
| Total Program Service Revenue | $307,976 |
| Investment income | $38,675 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,985 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,094,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $19,183 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,130 |
| Fees for services: Other | $248,033 |
| Advertising and promotion | $3,000 |
| Office expenses | $35,660 |
| Information technology | $4,807 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $190,117 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $217,172 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $931,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,932 |
| Savings and temporary cash investments | $45,636 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $2,916 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,732,092 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,116,576 |
| Accounts payable and accrued expenses | $57,882 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $57,882 |
| Net assets without donor restrictions | $2,058,694 |
| Net assets with donor restrictions | $0 |
| 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 | $2,116,576 |
Grants Awarded
Over the last fiscal year, Employee Ownership Foundation Inc has awarded $90,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RUTGERS UNIVERSITY PURPOSE: ESTABLISH INSTITUTE FOR THE STUDY OF EMPLOYEE OWNERSHIP AND PROFIT SHARING | $50,000 |
PEPPERDINE UNIVERSITY PURPOSE: SPONSOR THE "COST OF CAPITAL" REPORT | $40,000 |