Economic Innovation Group Inc
- Assets
- $6.0m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 22
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-2450336
Organization Overview
Economic Innovation Group Inc is located in Washington, DC. The organization was established in 2014. According to its NTEE Classification (J05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Employment and related organizations. As of 12/2022, Economic Innovation Group Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Innovation Group 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 12/2022, Economic Innovation Group Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. While expenses have increased by 7.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRIMARILY FOCUSED ON PUBLIC INTEREST RESEARCH AND ADVOCACY ACTIVITIES TO PROMOTE IDEAS, PUBLIC POLICY, AND INVESTMENT NEEDED TO DRIVE ECONOMIC GROWTH IN AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Lettieri President & CEO | OfficerTrustee | 40 | $466,466 |
Jennifer Nordquist Executive Vice President | 40 | $305,147 | |
Scott Shewcraft Vice President Of Policy | 40 | $273,240 | |
Adam Ozimek Chief Economist | 40 | $227,180 | |
Kenan Fikri Director Of Research | 40 | $199,786 | |
Milica Cosic Chief Of Staff | 40 | $186,831 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steptoe Johnson Llp Legal/govt.relations | 12/30/22 | $268,575 |
Mayer Brown Llp Consulting/govt Rel. | 12/30/22 | $212,623 |
Hamilton Place Strategies Llc Public Relations | 12/30/22 | $200,000 |
Echelon Insights Rsrch/data Analysis | 12/30/22 | $167,383 |
Washington Tax Group Llc Consulting/govt Rel. | 12/30/22 | $142,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $346,603 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,493,244 |
| Noncash contributions included in lines 1a–1f | $635,544 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,839,847 |
| Total Program Service Revenue | $296,375 |
| Investment income | $15,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,601 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,211,631 |
| 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. | $502,941 |
| Compensation of current officers, directors, key employees. | $125,735 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,110,008 |
| Pension plan accruals and contributions | $100,059 |
| Other employee benefits | $85,344 |
| Payroll taxes | $163,090 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,375 |
| Fees for services: Accounting | $56,481 |
| Fees for services: Lobbying | $327,938 |
| Fees for services: Fundraising | $45,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $514,122 |
| Advertising and promotion | $3,163 |
| Office expenses | $93,946 |
| Information technology | $135,905 |
| Royalties | $0 |
| Occupancy | $283,656 |
| Travel | $65,275 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,916 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,414 |
| Insurance | $3,448 |
| All other expenses | $49,664 |
| Total functional expenses | $5,026,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $323,826 |
| Savings and temporary cash investments | $5,400,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $143,500 |
| 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 | $58,690 |
| Net Land, buildings, and equipment | $40,095 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,540 |
| Total assets | $5,972,654 |
| Accounts payable and accrued expenses | $141,438 |
| Grants payable | $0 |
| Deferred revenue | $81,083 |
| 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 | $308,374 |
| Total liabilities | $530,895 |
| Net assets without donor restrictions | $0 |
| 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 | $5,441,759 |
| Total liabilities and net assets/fund balances | $5,972,654 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Innovation Group Inc Washington, DC | $5,972,654 | $5,211,631 |
The Incentive Research Foundation Mclean, VA | $885,617 | $1,341,040 |
Employ America Washington, DC | $937,256 | $756,726 |
Justjobs Network Inc McLean, VA | $192,982 | $342,959 |
Latino Coalition Foundation Washington, DC | $317,892 | $157,480 |
Quantum Leaps Inc Alexandria, VA | $49,691 | $0 |
Enterprise Action Committee Arlington, VA | $0 | $0 |