Foundation For Economic Education Inc
- Assets
- $16.2m
- Revenue
- $8.2m
- Investments
- $4.7m
- Employees
- 48
- Location
- Atlanta, GA
- Founding
- 04/1947
- Data as of
- 03/2024
- 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 03/2024, Foundation For Economic Education Inc employed 48 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 03/2024, Foundation For Economic Education Inc generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $7.8m during the year ending 03/2024. While expenses have increased by 9.6% per year over the past 8 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
2024
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 | $165,880 |
Tekoa Coleman Dir. Of Entreprenurial Education | 40 | $150,000 | |
Daniel Sanchez Director Of Content | 40 | $117,227 | |
Elisa Bishop COO | Officer | 40 | $145,000 |
Larry Reed President Emeritus | 40 | $131,373 | |
Alexander Miller Senior Gifts Officer | 40 | $127,028 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davitas Llc Consulting Services | 3/30/24 | $126,000 |
Kerry Mcdonald Consulting Services | 3/30/24 | $149,625 |
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 | $7,055,995 |
| Noncash contributions included in lines 1a–1f | $19,268 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,055,995 |
| Total Program Service Revenue | $103,577 |
| Investment income | $203,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $36,311 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,201 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,193,047 |
| 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. | $444,705 |
| Compensation of current officers, directors, key employees. | $88,941 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,100,619 |
| Pension plan accruals and contributions | $55,327 |
| Other employee benefits | $77,772 |
| Payroll taxes | $261,906 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,731 |
| Fees for services: Accounting | $72,954 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $59,124 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,548,966 |
| Advertising and promotion | $0 |
| Office expenses | $217,920 |
| Information technology | $349,480 |
| Royalties | $0 |
| Occupancy | $219,341 |
| Travel | $560,895 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $467,016 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,058 |
| Insurance | $43,062 |
| All other expenses | $0 |
| Total functional expenses | $7,805,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $851,239 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $125,000 |
| 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 | $128,830 |
| Prepaid expenses and deferred charges | $3,000 |
| Net Land, buildings, and equipment | $116,562 |
| Investments—publicly traded securities | $7,599,322 |
| Investments—other securities | $4,709,250 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,623,065 |
| Total assets | $16,156,268 |
| Accounts payable and accrued expenses | $454,210 |
| Grants payable | $0 |
| Deferred revenue | $100,770 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $108,843 |
| 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 | $525,179 |
| Total liabilities | $1,189,002 |
| Net assets without donor restrictions | $11,336,337 |
| Net assets with donor restrictions | $3,630,929 |
| 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 | $16,156,268 |