Center For Economic Democracy
- Assets
- $11.6m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 29
- Location
- Boston, MA
- Founding
- 09/2018
- Data as of
- 12/2021
- EIN
- 47-3589804
Organization Overview
Center For Economic Democracy is located in Boston, MA. The organization was established in 2018. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Center For Economic Democracy employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Economic Democracy 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, Center For Economic Democracy generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 59.7% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Center For Economic Democracy has awarded 110 individual grants totaling $2,735,814. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CENTER FOR ECONOMIC DEMOCRACY [C.E.D.] IS A U.S. SOCIAL MOVEMENT BUILDING ORGANIZATION, GROWING CAPACITY IN OUR COMMUNITIES TO TRANSFORM AMERICAN CAPITALISM INTO A MORE JUST, SUSTAINABLE AND DEMOCRATIC ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021 CED WORKED IN COALITION WITH COMMUNITY PARTNERS TO AMEND BOSTON'S CITY CHARTER TO INCREASE BUDGET DISCRETION FOR CITY COUNCILORS AND INTRODUCE PARTICIPATORY BUDGETING FOR THE CITY OF BOSTON, PROVIDED OVER 20 HOURS OF EDUCATIONAL TRAINING TO STUDENTS FROM AROUND THE COUNTRY (E4E), HOSTED A STATEWIDE COALITION TO SUPPORT COOPERATIVES AND WORKER OWNERSHIP,MANAGED COMMUNITY GOVERNED FUNDS THAT MADE GRANTS AND LOANS TO NONPROFITS AND SOCIAL ENTERPRISES. (SEI)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Familia Director Of Finance | Officer | 40 | $86,769 |
Ariel Brooks Dir Of Capacity & Operations | Officer | 40 | $71,355 |
Aaron Tanaka Executive Director | Officer | 40 | $68,441 |
Maria Christina Blanco Board Clerk/admin-Fiscal Mgr | Officer | 42 | $53,912 |
Elena Letona Treasurer | OfficerTrustee | 2 | $0 |
Penn Loh President | OfficerTrustee | 2 | $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 | $3,868,454 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,868,454 |
| Total Program Service Revenue | $110,858 |
| Investment income | $0 |
| 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 | $3,979,312 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $558,656 |
| Grants and other assistance to domestic individuals. | $22,375 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $269,172 |
| Compensation of current officers, directors, key employees. | $36,967 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,069,310 |
| Pension plan accruals and contributions | $27,142 |
| Other employee benefits | $75,740 |
| Payroll taxes | $120,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,130 |
| Fees for services: Accounting | $22,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $335,103 |
| Advertising and promotion | $22,855 |
| Office expenses | $31,319 |
| Information technology | $57,024 |
| Royalties | $0 |
| Occupancy | $24,557 |
| Travel | $1,001 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,816 |
| Interest | $56,672 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,407 |
| All other expenses | $0 |
| Total functional expenses | $2,734,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,886,933 |
| Savings and temporary cash investments | $5,322,161 |
| Pledges and grants receivable | $1,095,041 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $211,320 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,198 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,558,653 |
| Accounts payable and accrued expenses | $160,631 |
| 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 | $4,605,490 |
| Other liabilities | $0 |
| Total liabilities | $4,766,121 |
| Net assets without donor restrictions | $1,911,056 |
| Net assets with donor restrictions | $4,881,476 |
| 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 | $11,558,653 |
Grants Awarded
Over the last fiscal year, Center For Economic Democracy has awarded $537,430 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
Amherst, MA PURPOSE: SUPPORT RACIAL EQUITY TRAINING | $50,000 |
Jamaica Plain, MA PURPOSE: BUILDING MOVEMENT INFRASTRUCTURE | $45,000 |
Boston, MA PURPOSE: GRANT FOR SOLIDARITY ECONOMY INITITATIVE | $35,000 |
Brooklyn, NY PURPOSE: GRANT FOR SOLIDARITY ECONOMY INITITATIVE | $35,000 |
East Boston, MA PURPOSE: GRANT FOR SOLIDARITY ECONOMY INITITATIVE | $30,000 |
Boston, MA PURPOSE: GRANT FOR SOLIDARITY ECONOMY INITITATIVE | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Center For Economic Democracy has recieved totaling $1,065,050.
| Awarding Organization | Amount |
|---|---|
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $740,500 |
The Center For Cultural Innovation Los Angeles, CA PURPOSE: AMBITIOUS PROGRAM | $175,000 |
Proteus Fund Inc Amherst, MA PURPOSE: DEMOCRACY | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $20,450 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $15,000 |
Rudolf Steiner Foundation Inc San Francisco, CA PURPOSE: FOR SOLIDARITY ECONOMY INITIATIVE; FOR GENERAL OPERATING SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |