Woodstock Institute

Organization Overview

Woodstock Institute is located in Chicago, IL. The organization was established in 1978. According to its NTEE Classification (R20) the organization is classified as: Civil Rights, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 12/2021, Woodstock Institute employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodstock Institute 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 12/2021, Woodstock Institute generated $979.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE A JUST FINANCIAL SYSTEM IN WHICH LOWER-WEALTH PERSONS AND COMMUNITIES AND PEOPLE AND COMMUNITIES OF COLOR CAN ACHIEVE ECONOMIC SECURITY AND COMMUNITY PROSPERITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TECHNICAL ASSISTANCE/SMALL BUSINESS


EQUITABLE LENDING & INVESTMENT: WOODSTOCK PRODUCES RESEARCH ON THE OFTEN PREDATORY AND DISPROPORTIONATE IMPACT OF FINANCIAL PRODUCTS AND PRACTICES ON LOW-WAGE WORKERS, LOW-WEALTH PEOPLE AND COMMUNITIES OF COLOR, DEVELOPS MODEL REFORMS, AND ADVOCATES WITH REGIONAL STAKEHOLDERS FOR CONSUMER PROTECTIONS AND FAIR RATES FOR MORTGAGE AND CONSUMER CREDIT. FOR EXAMPLE, WOODSTOCK PLAYED A CRITICAL LEADERSHIP ROLE IN ELIMINATING MANY OF THE SHORT-TERM CREDIT INDUSTRY'S WORST PRACTICES IN ILLINOIS WITH THE PASSAGE OF HB537, WHICH INCLUDED ALL OF THE KEY CONSUMER PROTECTIONS IDENTIFIED IN WOODSTOCK'S SUBSTANTIAL BODY OF CONSUMER CREDIT RESEARCH. THAT LAW CAPS RATES FOR SHORT-TERM CREDIT PRODUCTS, PREVENTS THE CYCLE OF DEBT CAUSED BY FREQUENT REFINANCING, AND GIVES REGULATORS THE TOOLS NECESSARY TO IDENTIFY PREDATORY PRACTICES BEFORE THEY BECOME WIDESPREAD. AT THE FEDERAL LEVEL, WOODSTOCK WORKS TO ENSURE THAT THE LENDING AND CONSUMER LAWS AND RULES APPLY TO THE WIDEST POSSIBLE RANGE OF PRODUCTS AND EFFECTIVELY PROTECT CONSUMERS, LOW-WAGE WORKERS AND SMALL BUSINESS OWNERS BEFORE INDUSTRY ABUSES BECOME WIDESPREAD. WOODSTOCK'S GOALS ARE TO REDUCE THE NUMBER OF CONSUMERS USING PREDATORY CREDIT PRODUCTS AND THE LEVEL OF DEBT HELD BY LOW-WEALTH PEOPLE, AND TO HELP LOWER-WEALTH PEOPLE AND COMMUNITIES OF COLOR BUILD AND PRESERVE WEALTH.


WEALTH CREATION AND PRESERVATION: WOODSTOCK USES INNOVATIVE RESEARCH TO IDENTIFY BARRIERS TO AND OPPORTUNITIES FOR WEALTH CREATION FOR LOW-WEALTH PERSONS AND COMMUNITIES, AND ENGAGES IN COALITION BUILDING AND ADVOCACY TO EXPAND POLICIES THAT PROMOTE EQUITABLE WEALTH CREATION. FOR EXAMPLE, WOODSTOCK CONDUCTED RESEARCH ON THE EXTENT OF RETIREMENT SECURITY IN ILLINOIS AND COLLABORATED WITH THE ILLINOIS ASSET BUILDING GROUP TO PERSUADE ILLINOIS TO CREATE A FIRST-EVER STATE PROGRAM FOR EMPLOYMENT-BASED RETIREMENT SAVINGS PLANS TO SAVE THROUGH AUTOMATIC ENROLLMENT AND PAYROLL DEDUCTION INTO A ROTH IRA, WITH THE ABILITY TO OPT OUT.


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Board, Officers & Key Employees

Name (title)Compensation
Horacio Mendez
President And CEO
$142,082
Thomas Fitzgibbon Jr
Chair
$0
Calvin Bradford
Secretary
$0
Manuel Jimenez
Treasurer
$0
Bobbi Ball
Vice Chair
$0
Ravi Aurora
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $149,643
All other contributions, gifts, grants, and similar amounts not included above$828,908
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$978,551
Total Program Service Revenue$0
Investment income $755
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 $979,306

Grants Awarded

Over the last fiscal year, Woodstock Institute has awarded $95,667 in support to 2 organizations.

Grant RecipientAmount

CHICAGO URBAN LEAGUE

Org PageRecipient Profile

Chicago, IL

PURPOSE: Subgrantee

$51,907

NEW AMERICA FOUNDATION

Org PageRecipient Profile

Washington, DC

PURPOSE: Subgrantee

$43,760
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Woodstock Institute has recieved totaling $132,500.

Awarding OrganizationAmount
Grand Victoria Foundation

Chicago, IL

PURPOSE: GENERAL OPERATING SUPPORT

$65,000
Woods Fund Of Chicago

Chicago, IL

PURPOSE: GENERAL OPERATING SUPPORT

$30,000
$20,000
Greater Green Bay Community Foundation Inc

Green Bay, WI

PURPOSE: HUMAN SERVICES PROGRAM SUPPORT

$15,000
Marquette Bank Affordable Housing Foundation

Chicago, IL

PURPOSE: COMMUNITY DEVELOPMENT

$2,500
View Grant Recipient Profile

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