International Economic Development Council Inc
- Assets
- $7.7m
- Revenue
- $7.3m
- Investments
- $555.8k
- Employees
- 44
- Location
- Washington, DC
- Founding
- 07/1985
- Data as of
- 12/2020
- EIN
- 52-0887806
Organization Overview
International Economic Development Council Inc is located in Washington, DC. The organization was established in 1985. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, International Economic Development Council Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Economic Development 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 12/2020, International Economic Development Council Inc generated $7.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $6.7m during the year ending 12/2020. While expenses have increased by 2.1% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDC WORKS TO HELP ECONOMIC DEVELOPERS DO THEIR JOBS MORE EFFECTIVELY, AND TO RAISE THE PROFILE OF THE PROFESSION. IF WE SUCCEED, OUR MEMBERS CREATE MORE HIGH-QUALITY JOBS, DEVELOP MORE VIBRANT COMMUNITIES, AND GENERALLY IMPROVE THE QUALITY OF LIFE IN THEIR REGIONS. TO THAT END, WE PROVIDE INFORMATION ON TRENDS AND BEST PRACTICES, NETWORKING OPPORTUNITIES, PROFESSIONAL DEVELOPMENT COURSES AND NUMEROUS OTHER SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IEDC ADVISORY SERVICES AND RESEARCH (ASR) DEPARTMENT WORKED TO IMPROVE ECONOMIC OPPORTUNITIES FOR COMMUNITIES AND REGIONS PROVIDED TECHNICAL ASSISTANCE AND CUSTOMIZED ANALYSIS THAT HELPED CREATED SUSTAINABLE ECONOMIC DEVELOPMENT SOLUTIONS. WE KEPT ECONOMIC DEVELOPMENT PROFESSIONALS INFORMED ON ISSUES AND TRENDS IN THE FIELD THROUGH RESEARCH, PUBLICATIONS AND INFORMATION DISSEMINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Finkle President & CEO | OfficerTrustee | 40 | $425,221 |
Sharon Coy VP Of Finance And CFO | Officer | 40 | $165,278 |
Juanita Clogston VP Of Kmd | 40 | $164,331 | |
Matthew Mullin VP Of Policy & Communicati | 40 | $137,172 | |
Philip Goodwin VP Of Member Relations | 40 | $133,789 | |
Tom Kucharski Board Chair | OfficerTrustee | 25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Choice Temp Agency | 12/30/21 | $222,616 |
Philanthropy Dynamics Llc Consultant | 12/30/21 | $219,645 |
Quentin R Lide Consultant | 12/30/21 | $217,470 |
Nourick & Associates Llc Consultant | 12/30/21 | $213,325 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,088,338 |
| Investment income | $51,078 |
| 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 | $7,258,490 |
| Statement of Expenses | |
|---|---|
| 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. | $604,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,381,668 |
| Pension plan accruals and contributions | $277,644 |
| Other employee benefits | $438,155 |
| Payroll taxes | $183,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,398,944 |
| Advertising and promotion | $7,325 |
| Office expenses | $335,622 |
| Information technology | $55,559 |
| Royalties | $0 |
| Occupancy | $245,689 |
| Travel | $76,739 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $162,859 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,291 |
| Insurance | $58,945 |
| All other expenses | $0 |
| Total functional expenses | $6,681,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,147,264 |
| Savings and temporary cash investments | $799,910 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,932,942 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,446 |
| Prepaid expenses and deferred charges | $374,162 |
| Investments—publicly traded securities | $2,559,277 |
| Investments—other securities | $555,844 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,638 |
| Total assets | $7,664,446 |
| Accounts payable and accrued expenses | $485,413 |
| Grants payable | $0 |
| Deferred revenue | $1,684,580 |
| 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 | $864,732 |
| Total liabilities | $3,034,725 |
| 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 |
| Total liabilities and net assets/fund balances | $4,629,721 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that International Economic Development Council Inc has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Rockefeller Foundation New York, NY PURPOSE: IN SUPPORT OF AN EFFORT TO MAKE ECONOMIC DEVELOPMENT PRACTICES MORE EQUITABLE IN ORDER TO IMPROVE THE ECONOMIC CONDITION OF PEOPLE OF COLOR | $300,000 |
Kresge Foundation Troy, MI PURPOSE: TO INCREASE EQUITABLE DEVELOPMENT PRACTICES BY LOCAL ECONOMIC DEVELOPERS LEADING TO ENHANCED OUTCOMES IN RACIAL EQUITY. | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Budget Partnership Washington, DC | $22,613,845 | $10,208,589 |
The Global Development Incubator Inc Washington, DC | $19,206,818 | $12,212,974 |
U S Russia Foundation For Ecnomic Advancement And The Rule Of Law Washington, DC | $338,533,234 | $10,918,102 |
International Economic Development Council Inc Washington, DC | $7,664,446 | $7,258,490 |
Grassroots Business Partners Inc Washington, DC | $4,894,378 | $2,765,853 |
Serrv International Inc Westminster, MD | $5,915,930 | $5,889,769 |
Junior Achievement Of Greater Washington Washington, DC | $13,546,976 | $4,222,443 |
Fairtrade America United Inc Washington, DC | $5,153,549 | $4,146,091 |
Aceli Africa Inc Washington, DC | $4,489,153 | $3,826,704 |
Solar Sister Inc Great Falls, VA | $695,942 | $2,413,061 |
Junior Achievement Usa Baltimore, MD | $5,919,708 | $2,752,721 |
Microfinance Information Exchange Inc Washington, DC | $322,544 | $2,010,948 |