Wine Education Council Inc
- Assets
- $7.0m
- Revenue
- $2.7m
- Investments
- $4.5k
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 47-2067201
Organization Overview
Wine Education Council Inc is located in Dallas, TX. The organization was established in 2015. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wine Education Council 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 12/2023, Wine Education Council Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 41.4% each year . All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 40.1% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT PROGRAMS AND ACTIVITIES RELATED TO THE EDUCATION OF ALL PEOPLES ON THE MULTIFACETED IMPACT WINE HAS HAD ON OUR CULTURE AND ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WINE EDUCATION COUNCIL IS A NON-PROFIT, EDUCATIONAL ORGANIZATION THAT PROMOTES THE DEVELOPMENT AND EFFECTIVENESS OF WINE PROFESSIONALS THROUGH FORMAL STUDY, POST-GRADUATE TRAINING, AND ADVANCED, ENRICHMENT OPPORTUNITIES. OUR DIVERSE ACTIVITIES INCLUDE THE SUPPORT OF WINE PROGRAMS AT INSTITUTIONS OF HIGHER LEARNING, THE SPONSORSHIP OF SPECIALIZED SEMINARS, GRANTS TO ASSIST PUBLICATION OF ACADEMIC WORKS, AND THE PROMOTION OF EDUCATIONAL EXPERIENCES THAT HELP STUDENTS AND WINE PROFESSIONALS LEARN ABOUT AND ENGAGE IN VARIOUS SECTORS OF THE WINE COMMUNITY.RECOGNIZING THAT THE CONSUMPTION OF WINE IS VULNERABLE TO ABUSE, WE ARE COMMITTED TO PROVIDING RESOURCES AND SUPPORTING PROGRAMS THAT PROMOTE MODERATE AND RESPONSIBLE ALCOHOL USE AND GUARD AGAINST SOCIAL PROBLEMS ASSOCIATED WITH INAPPROPRIATE CONSUMPTION.AS AN ENVIRONMENTALLY AND SOCIALLY CONSCIOUS ORGANIZATION, WE ARE SENSITIVE TO THE HUMAN AND ECONOMIC IMPACT OF WINE ON OUR COMMUNITY AND REMAIN DEDICATED TO PROMOTING WITHIN THE GLOBAL WINE COMMUNITY THE RESPONSIBLE USE OF THE EARTH'S RESOURCES AND THE IMPLEMENTATION OF MECHANISMS THAT PROMOTE ECONOMIC JUSTICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Harris President | Officer | 3 | $38,400 |
Kathy Stone Secretary | Officer | 4 | $9,600 |
Lon Mccain Director | Trustee | 1 | $0 |
Lionel DE Ravel Director | Trustee | 1 | $0 |
Douglas Barzelay Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foundation Legal Support Legal | 12/30/23 | $528,938 |
Snell & Wilmer Llp Legal | 12/30/23 | $309,158 |
Greenberg Traurig Legal | 12/30/23 | $112,565 |
Quinn Emanuel Trial Lawyers Legal | 12/30/23 | $292,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $795,310 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,995,310 |
| Total Program Service Revenue | $0 |
| Investment income | $109,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $128,462 |
| Net Income from Fundraising Events | $507,594 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,740,504 |
| 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. | $48,000 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,429,477 |
| Fees for services: Accounting | $38,173 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,504 |
| Advertising and promotion | $16,508 |
| Office expenses | $9,456 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,550 |
| Travel | $104,891 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,411 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,759 |
| All other expenses | $0 |
| Total functional expenses | $2,533,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,766 |
| Savings and temporary cash investments | $1,197,693 |
| 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 | $0 |
| Investments—publicly traded securities | $5,636,112 |
| Investments—other securities | $4,506 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,968,077 |
| Accounts payable and accrued expenses | $4,722 |
| 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 | $4,722 |
| 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 | $6,963,355 |
| Total liabilities and net assets/fund balances | $6,968,077 |