Economic Opportunity Institute
- Assets
- $9.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 11
- Location
- Seattle, WA
- Founding
- 02/2000
- Data as of
- 12/2021
- EIN
- 91-1999302
Organization Overview
Economic Opportunity Institute is located in Seattle, WA. The organization was established in 2000. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Economic Opportunity Institute employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Opportunity Institute 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, Economic Opportunity Institute generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.4m 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
THE ECONOMIC OPPORTUNITY INSTITUTE (EOI) WORKS IN CONCERT WITH GRASSROOTS ORGANIZATIONS, COMMUNITY COALITIONS, AND ELECTED OFFICIALS TO PUBLISH RESEARCH, ENCOURAGE DEBATE, AND CATALYZE POLICY INITIATIVES THAT MAKE WASHINGTON STATE A BETTER PLACE TO LIVE, WORK, RAISE A FAMILY, AND DO BUSINESS. WE FOCUS PRIMARILY ON PROMOTING HEALTH CARE ACCESS, HIGH-QUALITY EDUCATION, MODERN WORK-LIFE STANDARDS, RETIREMENT SECURITY, AND SHARED INVESTMENTS IN OUR COMMON FUTURE. WE RECOGNIZE THAT WE CANNOT BE SUCCESSFUL IN BUILDING A JUST ECONOMY FOR ALL WITHOUT DIRECTLY ADDRESSING INSTITUTIONAL AND STRUCTURAL RACISM, WHICH CREATE DEVASTATING ECONOMIC, EDUCATIONAL, AND HEALTH DISPARITIES. BY ADVANCING POLICY THAT CLOSES RACIAL AND ECONOMIC GAPS, EOI PURSUES A FUTURE OF SHARED OPPORTUNITY AND PROSPERITY WHERE EVERY WASHINGTONIAN CAN THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY AND MEDICAL LEAVE: PUBLICATION OF RESEARCH RELATED TO THE BENEFITS OF FAMILY AND MEDICAL LEAVE POLICIES FOR WORKERS, BUSINESSES, AND COMMUNITIES; DISSEMINATION OF SAID RESEARCH VIA PUBLIC FORUMS, MEDIA OUTREACH, AND OTHER VENUES; ADVOCACY FOR SAID POLICIES IN LOCAL AND STATE LEGISLATIVE BODIES.
EARLY CHILDHOOD EDUCATION, RETIREMENT SECURITY, ECONOMIC SECURITY, MINIMUM WAGE, SOCIAL SECURITY, HIGHER EDUCATION, PAID SICK LEAVE, STATE ECONOMY: PUBLICATION OF RESEARCH RELATED TO THE BENEFITS OF STATED POLICIES FOR WORKERS, BUSINESSES AND COMMUNITIES; DISSEMINATION OF SAID RESEARCH THROUGH PUBLIC FORUMS, MEDIA OUTREACH, AND OTHER VENUES; ADVOCACY FOR SAID POLICIES IN LOCAL AND STATE LEGISLATIVE BODIES.
HEALTH CARE: PUBLICATION OF RESEARCH RELATED TO THE BENEFITS OF HEALTH POLICY REFORM FOR WORKERS, BUSINESSES AND COMMUNITIES; DISSEMINATION OF SAID RESEARCH VIA PUBLIC FORUMS, MEDIA OUTREACH, AND OTHER VENUES; ADVOCACY FOR SAID POLICIES IN LOCAL AND STATE LEGISLATIVE BODIES.
TAX REFORM: PUBLICATION OF RESEARCH RELATED TO BENEFITS OF TAX POLICY REFORM FOR WORKERS, BUSINESSES, AND COMMUNITIES; DISSEMINATION OF SAID RESEARCH VIA PUBLIC FORUMS, MEDIA OUTREACH, AND OTHER VENUES; ADVOCACY FOR SAID POLICIES IN LOCAL AND STATE LEGISLATIVE BODIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Summer Stinson Executive Director | OfficerTrustee | 40 | $72,195 |
Ray Sugarman President | OfficerTrustee | 1 | $0 |
Michael Tamayo Vice President | OfficerTrustee | 1 | $0 |
Matt Loschen Treasurer | OfficerTrustee | 1 | $0 |
Andrew Gordon Secretary | OfficerTrustee | 1 | $0 |
Stan Sorscher At-Large Executive Committee Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $174,095 |
| Related organizations | $0 |
| Government grants | $290,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $590,814 |
| Noncash contributions included in lines 1a–1f | $65,137 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,054,909 |
| Total Program Service Revenue | $0 |
| Investment income | $106,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $60,044 |
| Net Income from Fundraising Events | -$40,219 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,181,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,165 |
| 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. | $146,848 |
| Compensation of current officers, directors, key employees. | $12,240 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $743,753 |
| Pension plan accruals and contributions | $37,013 |
| Other employee benefits | $61,606 |
| Payroll taxes | $69,856 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,362 |
| Fees for services: Other | $82,566 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $39,895 |
| Royalties | $0 |
| Occupancy | $64,178 |
| Travel | $766 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,134 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,429,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,034,750 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $575,417 |
| 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 | $517 |
| Investments—publicly traded securities | $8,257,650 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,868,334 |
| Accounts payable and accrued expenses | $179,707 |
| 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 | $179,707 |
| Net assets without donor restrictions | $485,671 |
| Net assets with donor restrictions | $9,202,956 |
| 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 | $9,868,334 |