Economy Shop
- Assets
- $337.2k
- Revenue
- $284.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Oak Park, IL
- Founding
- 12/1945
- Data as of
- 06/2022
- EIN
- 36-2177156
Organization Overview
Economy Shop is located in Oak Park, IL. The organization was established in 1945. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Economy Shop employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economy Shop 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, Economy Shop generated $284.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $281.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Economy Shop has awarded 34 individual grants totaling $562,000. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMY SHOP SELLS DONATED CLOTHING AND OTHER HOUSEHOLD ITEMS TO THE GENERAL PUBLIC AND UTILIZES THE FUNDS RAISED TO SUPPORT LOCAL CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMY SHOP SELLS DONATED CLOTHING AND OTHER HOUSEHOLD ITEMS TO THE GENERAL PUBLIC AND UTILIZES THE FUNDS RAISED TO SUPPORT LOCAL CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Brooks Operations D | OfficerTrustee | 30 | $37,370 |
Mary Ann Schott Treasurer | OfficerTrustee | 8 | $0 |
Mary Rogers VP - House & | OfficerTrustee | 8 | $0 |
Tammy Grayson VP - Merchan | OfficerTrustee | 8 | $0 |
Karen Murphy Recording Se | OfficerTrustee | 8 | $0 |
Mary Austin Correspondin | OfficerTrustee | 8 | $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 | $19,434 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,434 |
| Total Program Service Revenue | $0 |
| Investment income | $126 |
| 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 | $264,776 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,336 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,000 |
| 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. | $37,370 |
| Compensation of current officers, directors, key employees. | $13,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,105 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $3,634 |
| Insurance | $21,833 |
| All other expenses | $0 |
| Total functional expenses | $280,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,844 |
| Savings and temporary cash investments | $144,707 |
| 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 | $0 |
| Net Land, buildings, and equipment | $50,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $337,202 |
| Accounts payable and accrued expenses | $22 |
| 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 | $22 |
| Net assets without donor restrictions | $337,180 |
| 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 | $337,202 |
Grants Awarded
Over the last fiscal year, Economy Shop has awarded $84,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gift Clearing Trust Indianapolis, IN | $47,036,280 | $91,256,862 |
Sojourner Foundation Inc Milwaukee, WI | $5,493,853 | $4,205,530 |
Bloomington-Normal Ymca Charitable Foundation Nfp Bloomington, IL | $12,002,532 | $7,012,515 |
Moose Foundation Inc Mooseheart, IL | $261,014,797 | $19,670,612 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
West Bend Community Foundation Inc Milwaukee, WI | $79,149,428 | $10,575,689 |
Glasser And Rosenthal Family Foundation Chicago, IL | $0 | $604,291 |
Arthur Dean Family Foundation Inc Fishers, IN | $75,273,545 | $2,866,490 |
Real Estate Charitable Foundation Kansas City, MO | $43,935,265 | $4,204,580 |
Barbara Mettler Personal Tr Champaign, IL | $0 | $38,620 |
Friends Of Penfield Childrens Center Inc Milwaukee, WI | $8,290,252 | $2,579,522 |
Shure Charitable Tr Created Uw Of Sidney N Shure Chicago, IL | $52,599,907 | $2,093,307 |