Economic Improvement Council Inc
- Assets
- $4.2m
- Revenue
- $20.9m
- Investments
- $0.0
- Employees
- 343
- Location
- Edenton, NC
- Founding
- 08/1966
- Data as of
- 06/2021
- 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 06/2021, Economic Improvement Council Inc employed 343 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 06/2021, Economic Improvement Council Inc generated $20.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $19.8m during the year ending 06/2021. While expenses have increased by 9.6% 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
2021
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.
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. 13,708 CUSTOMERS IN 10 COUNTIES RECEIVED HOUSING ASSISTANCE DURING THE FISCAL YEAR ENDING JUNE 30, 2021.
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. 39 HOUSEHOLDS RECEIVED WEATHERIZATION ASSISTANCE DURING THE FISCAL YEAR ENDING JUNE 30, 2021.
NC PRE-K PROGRAM, CHILD NUTRITION PROGRAM, COMMUNITY SERVICES BLOCK GRANT PROGRAM, COMMUNITY SERVICES BLOCK GRANT CARES PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Landon Mason Executive Di | Officer | 40 | $199,408 |
Dr William Sawyer Vice-Preside | OfficerTrustee | 1.5 | $0 |
Robert Williams President | OfficerTrustee | 1.5 | $0 |
Nina Griswell Secretary/tr | OfficerTrustee | 1.5 | $0 |
Melvin Norman Director | Trustee | 1 | $0 |
Jakeema Spencer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Surazal Systems It | 6/29/21 | $107,847 |
Timeless Business Solutions It | 6/29/21 | $132,341 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,867,847 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,924,347 |
| Total Program Service Revenue | $0 |
| Investment income | $12,592 |
| 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 | $20,948,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,795,856 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,408 |
| Compensation of current officers, directors, key employees. | $39,882 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,351,618 |
| Pension plan accruals and contributions | $259,563 |
| Other employee benefits | $451,045 |
| Payroll taxes | $483,150 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $64,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,020,982 |
| Advertising and promotion | $0 |
| Office expenses | $641,694 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $915,189 |
| Travel | $147,399 |
| 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 | $245,689 |
| Insurance | $168,740 |
| All other expenses | $265,378 |
| Total functional expenses | $19,798,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,783,308 |
| Savings and temporary cash investments | $357,743 |
| 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 | $48,576 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,673,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $382,925 |
| Total assets | $4,246,156 |
| Accounts payable and accrued expenses | $425,493 |
| 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 | $218,065 |
| Total liabilities | $643,558 |
| Net assets without donor restrictions | $3,431,335 |
| Net assets with donor restrictions | $171,263 |
| 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 | $4,246,156 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Economic Improvement Council Inc has recieved totaling $308,445.
| Awarding Organization | Amount |
|---|---|
Good360 Alexandria, VA PURPOSE: TO ASSIST THOSE IN NEED. | $308,147 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pruitt Corporation Employee Welfare Norcross, GA | $5,026,472 | $52,038,649 |
Palmetto Goodwill North Charleston, SC | $100,114,143 | $50,949,954 |
Helping Hands Ministries Inc Tallulah Falls, GA | $3,673,283 | $41,819,921 |
Bremen Food & Clothing Bank Inc Bremen, GA | $515,496 | $35,921,408 |
Navy Marine Coast Guard Residence Foundation Mclean, VA | $169,576,374 | $36,329,894 |
Southwest Georgia Community Action Council Inc Moultrie, GA | $11,357,621 | $35,023,890 |
Mid-Cumberland Human Resource Agency Nashville, TN | $16,634,342 | $31,822,877 |
Must Ministries Inc Marietta, GA | $38,621,848 | $35,481,764 |
Inter-Faith Food Shuttle Raleigh, NC | $8,299,507 | $23,329,525 |
Total Action Against Poverty In Roanoke Valley Roanoke, VA | $8,696,425 | $23,450,227 |
Enrichment Services Program Incorporated Columbus, GA | $4,122,189 | $23,954,834 |
Society Of St Vincent De Paul Georgia Inc Atlanta, GA | $8,206,515 | $23,990,110 |