Economic Improvement Council Inc
- Assets
- $4.8m
- Revenue
- $23.8m
- Investments
- $0.0
- Employees
- 351
- Location
- Edenton, NC
- Founding
- 08/1966
- Data as of
- 06/2022
- EIN
- 56-0857026
Organization Overview
Economic Improvement Council Inc is located in Edenton, NC. The organization was established in 1966. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2022, Economic Improvement Council Inc employed 351 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Improvement Council 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 06/2022, Economic Improvement Council Inc generated $23.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $23.3m during the year ending 06/2022. While expenses have increased by 7.3% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF FEDERAL AND STATE PROGRAMS PROVIDING LOW-INCOME HOUSING, HEAD START PROGRAM, WEATHERIZATION ASSISTANCE, JOB DEVELOPMENT AND DAY CARE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEAD START/ EARLY HEAD START PROGRAM - THE PROGRAM SERVES ECONOMICALLY DISADVANTAGED CHILDREN BY PROVIDING COMPREHENSIVE HEALTH, EDUCATION, NUTRITION, SOCIAL, AND OTHER SERVICES.
NC PRE-K PROGRAM, CHILD NUTRITION PROGRAM, COMMUNITY SERVICES BLOCK GRANT PROGRAM
HUD SECTION 8 HOUSING PROGRAM - THIS PROGRAM PROVIDES ASSISTANCE TO LOW- INCOME FAMILIES IN FINDING DECENT, SAFE & HEALTHY RENTAL HOMES AT A PRICE THEY CAN AFFORD. 13,740 CUSTOMERS IN 10 COUNTIES RECEIVED HOUSING ASSISTANCE DURING THE FISCAL YEAR ENDING JUNE 30, 2020.
WEATHERIZATION ASSISTANCE PROGRAM - DESIGNED TO DELIVER ENERGY EFFICIENCY SERVICE TO LOW-INCOME HOUSEHOLDS. FUNDS ARE USED TO IMPROVE THE ENERGY PERFORMANCE OF DWELLINGS OF LOW-INCOME FAMILIES USING THE MOST ADVANCED TECHNOLOGIES AND TESTING PROTOCOLS AVAILABLE IN THE HOUSING INDUSTRY. 69 HOUSEHOLDS RECEIVED WEATHERIZATION ASSISTANCE DURING THE FISCAL YEAR ENDING JUNE 30, 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William Sawyer President | OfficerTrustee | 1.5 | $0 |
Melvin Norman Vice Preside | OfficerTrustee | 1.5 | $0 |
Nina Griswell Secretary | OfficerTrustee | 1.5 | $0 |
Pearl Sutton Treasurer | OfficerTrustee | 1.5 | $0 |
Sheila Gregory Director | Trustee | 1 | $0 |
Glorious Elliot Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Timeless Business Solutions Technology | 6/29/22 | $249,896 |
Sysco Raleigh Llc Food Service | 6/29/22 | $379,481 |
New World Playground Playground Cons | 6/29/22 | $554,962 |
Kids N Play Daycare Service | 6/29/22 | $240,726 |
Pblacare-o-world Daycare Service | 6/29/22 | $249,041 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,448,233 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,467,233 |
| Total Program Service Revenue | $310,715 |
| Investment income | $41,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,822,992 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,792,416 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $186,468 |
| Compensation of current officers, directors, key employees. | $46,617 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,669,334 |
| Pension plan accruals and contributions | $336,930 |
| Other employee benefits | $1,075,888 |
| Payroll taxes | $577,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $975,739 |
| Advertising and promotion | $0 |
| Office expenses | $584,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $420,543 |
| Travel | $99,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,688 |
| Insurance | $130,548 |
| All other expenses | $427,800 |
| Total functional expenses | $23,327,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,323,217 |
| Savings and temporary cash investments | $481,874 |
| 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 | $45,661 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,427,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $571,254 |
| Total assets | $4,849,921 |
| Accounts payable and accrued expenses | $573,543 |
| 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 | $178,587 |
| Total liabilities | $752,130 |
| Net assets without donor restrictions | $3,776,241 |
| Net assets with donor restrictions | $321,550 |
| 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 | $4,849,921 |