Economic Innovation Group Inc
- Assets
- $5.9m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 22
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Economic Innovation Group Inc generated $6.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 7.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Lettieri President & CEO | OfficerTrustee | 40 | $444,719 |
Kenan Fikri Director Of Research | 40 | $190,650 | |
Milica Cosic Chief Of Staff | 40 | $184,482 | |
Jennifer Nordquist Executive Vice President | 40 | $163,722 | |
Scott Shewcraft Vice President Of Policy | 40 | $161,643 | |
Catherine Lyons Director Of Policy/coalitions | 40 | $120,616 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mayer Brown Llp Consulting/govt Rel. | 12/30/21 | $200,000 |
Washington Tax Group Llc Consulting/govt Rel. | 12/30/21 | $120,000 |
Steptoe Johnson Llp Legal/govt.relations | 12/30/21 | $289,880 |
The Lindsey Group Llc Consulting | 12/30/21 | $117,500 |
Hamilton Place Strategies Llc Public Relations | 12/30/21 | $290,786 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,737 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,577,524 |
| Noncash contributions included in lines 1a–1f | $3,340,774 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,604,261 |
| Total Program Service Revenue | $508,883 |
| Investment income | $2,608 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $93,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,209,477 |
| 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. | $496,073 |
| Compensation of current officers, directors, key employees. | $124,018 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,522,187 |
| Pension plan accruals and contributions | $69,618 |
| Other employee benefits | $66,767 |
| Payroll taxes | $134,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,080 |
| Fees for services: Accounting | $65,068 |
| Fees for services: Lobbying | $300,650 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $994,424 |
| Advertising and promotion | $15,504 |
| Office expenses | $34,480 |
| Information technology | $214,175 |
| Royalties | $0 |
| Occupancy | $276,191 |
| Travel | $8,341 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,165 |
| Insurance | $5,130 |
| All other expenses | $24,151 |
| Total functional expenses | $4,569,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $263,309 |
| Savings and temporary cash investments | $5,400,050 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,500 |
| 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 | $74,936 |
| Net Land, buildings, and equipment | $97 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $103,365 |
| Total assets | $5,887,257 |
| Accounts payable and accrued expenses | $221,466 |
| Grants payable | $0 |
| Deferred revenue | $98,367 |
| 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 | $310,458 |
| Total liabilities | $630,291 |
| 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 | $5,256,966 |
| Total liabilities and net assets/fund balances | $5,887,257 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Innovation Group Inc has recieved totaling $2,236,750.
| Awarding Organization | Amount |
|---|---|
New Venture Fund Washington, DC PURPOSE: EMPLOYMENT | $2,236,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership For Public Service Inc Washington, DC | $31,644,746 | $24,928,119 |
Economic Innovation Group Inc Washington, DC | $5,887,257 | $6,209,477 |
The Incentive Research Foundation Mclean, VA | $939,157 | $1,112,933 |
Justjobs Network Inc McLean, VA | $198,918 | $868,230 |
Employ America Washington, DC | $975,022 | $754,025 |
Latino Coalition Foundation Washington, DC | $544,473 | $585,923 |
Quantum Leaps Inc Alexandria, VA | $49,691 | $0 |
Enterprise Action Committee Arlington, VA | $2,541 | $0 |