Economic Security Project Action Inc
- Assets
- $3.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2023
- EIN
- 83-2050594
Organization Overview
Economic Security Project Action Inc is located in New York, NY. Economic Security Project Action Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Economic Security Project Action Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Economic Security Project Action Inc has awarded 62 individual grants totaling $3,473,899. 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
ECONOMIC SECURITY PROJECT ACTION ADVOCATES FOR IDEAS THAT BUILD ECONOMIC POWER FOR ALL AMERICANS. WE AIM TO CHECK CORPORATE POWER THROUGH ANTIMONOPOLY ACTION AND SHAPING MARKETS, CHAMPION A GUARANTEED INCOME, AND ADVOCATE FOR CASH TAX CREDITS. TO ACHIEVE THIS, OUR TEAM DISBURSES GRANTS, RUNS ISSUE CAMPAIGNS, DEVELOPS CREATIVE INTERVENTIONS AND RESEARCH, AND CONVENES THE FIELD TO ADVANCE OUR ISSUES AND TURN BOLD IDEAS INTO REALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR CASH TAX CREDIT (CTC) IN THE STATES INITIATIVE, DESIGNED TO SHIFT FEDERAL ENERGY FOR A MODERNIZED CTC TO THE STATES, SURPASSED ALL EXPECTATIONS, SUPPORTING THE PASSAGE OF EXPANDED OR IMPROVED TAX CREDITS IN OVER 18 STATES, RESULTING IN OVER $2 BILLION IN OVER 4 MILLION HOUSEHOLDS THIS YEAR ALONE. EVEN AS THAT WORK PICKED UP STEAM, WE KEPT UP THE DRUMBEAT FOR THE FEDERAL CTC.
OVER THE COURSE OF THIS YEAR, OUR EVENTS, WORKSHOPS, AND COMMUNITIES OF PRACTICE HAVE CONVENED OVER 1,000 PEOPLE, ENGAGING FRONTLINE ADVOCATES, TOP OFFICIALS IN THE WHITE HOUSE, AND LONG-TIME COLLABORATORS. WE ALSO EXPANDED OUR FOOTPRINT IN BOTH CALIFORNIA AND ILLINOIS, INVESTING IN THEM AS THE VANGUARD STATES IN ADVANCING BOLD ECONOMIC POLICIES.
ON GUARANTEED INCOME (GI), WE LED A RENEWED NATIONAL CONVERSATION AROUND GI AND LIFTED-UP THE EFFECTIVENESS OF PILOT PROGRAMS. IN PARALLEL WE SET THE AGENDA BY BUILDING THE TEN YEAR VISION TO WINNING A GI WITH THE BLUEPRINT FOR A GUARANTEED INCOME, COLLECTIVELY BUILT BY HUNDREDS OF MEMBERS OF THE GUARANTEED INCOME COMMUNITY OF PRACTICE, WHICH GREW TO 1,000+ MEMBERS.
TO SHAPE MARKETS TO WORK FOR PEOPLE, WE PROVIDED CRUCIAL FUNDING TO THE COALITION FIGHTING FOR A NONCOMPETES BAN FOR WORKERS, ORGANIZED INFLUENTIAL GRASSTOPS LEADERS, AND RAISED THE ISSUE'S VISIBILITY THROUGH NATIONAL MEDIA COVERAGE AND COMPELLING TESTIMONIES HIGHLIGHTING THE IMPLICATIONS FOR WORKERS. WE'VE ALSO JUMPED INTO THE DEBATE ON POLITICAL ECONOMY AND ARTIFICIAL INTELLIGENCE WITH THE FIRST ANTIMONOPOLY & AI EVENT IN DC, SEIZING THE OPPORTUNITY TO DEMONSTRATE THAT WE CAN EITHER SHAPE MARKETS TO DELIVER BROAD-BASED PROSPERITY, OR ENTRENCH WEALTH AND POWER IN THE HANDS OF A FEW INDIVIDUALS AND CORPORATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Natalie Foster President | OfficerTrustee | 4 | $18,564 |
Dorian Warren Secretary | OfficerTrustee | 1 | $0 |
Christopher Hughes Chair | OfficerTrustee | 1 | $0 |
Felicia Wong Treasurer | OfficerTrustee | 1 | $0 |
Aisha Nyandoro Director | Trustee | 1 | $0 |
Ben Chin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Three Point Media Llc Advertising | 12/30/22 | $135,822 |
Pioneer Public Affairs Llc Policy Advisor | 12/30/22 | $150,000 |
Bully Pulpit Interactive Llc Strategic Development | 12/30/22 | $162,000 |
Federal Hall Policy Advisors Llc Policy Advisor | 12/30/22 | $120,000 |
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 | $2,414,945 |
| Noncash contributions included in lines 1a–1f | $1,211,075 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,414,945 |
| Total Program Service Revenue | $0 |
| Investment income | $50,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,826 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,485,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $290,000 |
| 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. | $42,132 |
| Compensation of current officers, directors, key employees. | $2,415 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $755,705 |
| Pension plan accruals and contributions | $24,827 |
| Other employee benefits | $71,710 |
| Payroll taxes | $66,852 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,801 |
| Fees for services: Accounting | $42,582 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,566 |
| Fees for services: Other | $297,666 |
| Advertising and promotion | $0 |
| Office expenses | $14,843 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,091 |
| 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 | $0 |
| Insurance | $21,118 |
| All other expenses | $0 |
| Total functional expenses | $1,696,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $789,086 |
| Savings and temporary cash investments | $888,831 |
| Pledges and grants receivable | $32,226 |
| 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 | $24,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,026,657 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,760,800 |
| Accounts payable and accrued expenses | $62,954 |
| 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 | $15,413 |
| Total liabilities | $78,367 |
| Net assets without donor restrictions | $2,869,534 |
| Net assets with donor restrictions | $812,899 |
| 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 | $3,760,800 |
Grants Awarded
Over the last fiscal year, Economic Security Project Action Inc has awarded $252,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
CASH CAMPAIGN OF MARYLAND PURPOSE: GENERAL SUPPORT | $10,000 |
DC FISCAL POLICY INSTITUTE INC PURPOSE: GENERAL SUPPORT | $25,000 |
EMPIRE STATE VOICES INC PURPOSE: GENERAL SUPPORT | $25,000 |
FIGHT FOR THE FUTURE INC PURPOSE: GENERAL SUPPORT | $20,000 |
HAWAII APPLESEED CENTER FOR LAW PURPOSE: GENERAL SUPPORT | $10,000 |
MAKE THE ROAD ACTION INC PURPOSE: GENERAL SUPPORT | $10,000 |