Economic Opportunity Foundation Inc
- Assets
- $367.1k
- Revenue
- $930.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Kansas City, KS
- Founding
- 05/1965
- Data as of
- 03/2023
- EIN
- 48-6120518
Organization Overview
Economic Opportunity Foundation Inc is located in Kansas City, KS. The organization was established in 1965. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 03/2023, Economic Opportunity Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Opportunity Foundation 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 03/2023, Economic Opportunity Foundation Inc generated $930.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $763.2k during the year ending 03/2023. While expenses have increased by 7.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ECONOMIC OPPORTUNITY FOUNDATION IS A NON-FOR-PROFIT COMMUNITY ACTION AGENCY WHOSE MISSION IS TO MOBILIZE NECESSARY RESOURCES TO ADDRESS THE CAUSES AND CONDITIONS OF POVERTY IN WYANDOTTE COUNTY TO ASSIST LOW-INCOME RESIDENTS IN MOVING TOWARDS SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT CUSTOMER SERVICES - EOF RECEIVES DIRECT FUNDING PRIMARILY FROM THE FEDERAL COMMUNITY SERVICES BLOCK GRANT (CSBG FUNDS PASSED THROUGH THE STATE)TO PROVIDE DIRECT SERVICES TO ELIGIBLE LOW-INCOME CUSTOMERS. SERVICES PROVIDED DURING THE AGENCY'S FISCAL YEAR ENDING MARCH 31, 2023 INCLUDED: 1)EMERGENCY ASSISTANCE - WHICH HELPS FAMILIES OBTAIN NEEDED SUPPORTS, SUCH AS UTILITY AND RENT ASSISTANCE AND MORTGAGE DEFAULT COUNSELING/DIRECT ASSISTANCE TO ADDRESS EMERGENCY SITUATIONS. 2)EMPLOYMENT SERVICES AND SUPPORTS WHICH HELPS UNEMPLOYED INDIVIDUALS WITH JOB PREPARATION AND PLACEMENT ASSISTANCE AS WELL AS EMPLOYMENT SUPORTS SUCH AS ASSISTANCE WITH TRANSPORTATION NEEDS, WORK TOOLS, UNIFORMS, WORK BOOTS,3)CASE MANAGEMENT SERVICES - WHICH HELPS LOW- INCOME INDIVIDUALS AND/OR FAMILIES WORK ON ECONOMIC SELFSUFFICIENCY AND GOAL ACHIEVEMENT, 4)SENIOR COMMODITY DISTRIBUTION - WHICH PROVIDES FOOD FROM THE SEVEN FOOD GROUPS TO ELDERLY AND DISABLED INDIVIDUALS, AND 5)HOUSING SERVICES - WHICH HELPS LOW-INCOME INDIVIDUALS ADDRESS CURRENT HOMELESSNESS OR HELPS THOSE AT RISK OF BECOMING HOMELESS. DURING THE 2022 FISCAL YEAR ENDING MARCH 31. 2023 - EOF SERVED SIX HUNDRED AND TWENTY-SEVEN INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Mabion Board President | Trustee | 3 | $0 |
Scott Mackey Board Treasurer | Trustee | 1 | $0 |
Ondra Penn Board Secretary | Trustee | 1 | $0 |
Yvonne Brown Trustee | Trustee | 1 | $0 |
Henry Hank Chamberlain Trustee | Trustee | 1 | $0 |
Senator David Hayley Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $757,734 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,014 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $775,748 |
| Total Program Service Revenue | $58,992 |
| Investment income | $120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,720 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $930,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $291,056 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,366 |
| Compensation of current officers, directors, key employees. | $13,906 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $210,350 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,463 |
| Advertising and promotion | $0 |
| Office expenses | $1,928 |
| Information technology | $4,151 |
| Royalties | $0 |
| Occupancy | $15,164 |
| Travel | $36,315 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,124 |
| Insurance | $19,889 |
| All other expenses | $0 |
| Total functional expenses | $763,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $286,297 |
| Pledges and grants receivable | $6,997 |
| 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 | $3,205 |
| Net Land, buildings, and equipment | $70,648 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $367,147 |
| Accounts payable and accrued expenses | $19,785 |
| Grants payable | $0 |
| Deferred revenue | $91,253 |
| 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 | $111,038 |
| Net assets without donor restrictions | $256,109 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $367,147 |