The Esop Association Of America
- Assets
- $5.2m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 20
- Location
- Washington, DC
- Founding
- 08/1978
- Data as of
- 12/2022
- EIN
- 94-2478143
Organization Overview
The Esop Association Of America is located in Washington, DC. The organization was established in 1978. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Esop Association Of America employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Esop Association Of America is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Esop Association Of America generated $8.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $8.8m during the year ending 12/2022. While expenses have increased by 5.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO REPRESENT THE INTEREST OF ALL CORPORATIONS THAT SPONSOR EMPLOYEE STOCK OWNERSHIP PLANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES, WEBINARS, AND ROUNDTABLES: OVER 9000 PERSONS, MOSTLY EMPLOYEES OF ASSOCIATION MEMBERS, ATTENDED FOUR NATIONAL CONFERENCES, OVER 70 LOCAL, STATE, AND REGIOINAL ROUNDTABLES, SEMINARS, AND CONFERENCES IN 2022. THESE GATHERINGS FOCUSED PRIMARILY ON MANAGEMENT AND LEADERSHIP LEARNING TO IMPROVE CORPORATE MEMBERS' OWNERSHIP CULTURE THAT RESEARCH AND DATA INDICATES LEADS TO MORE PRODUCTIVE AND PROFITABLE EMPLOYEE OWNED COMPANIES. SECONDARILY, THE EDUCATION FOCUSED ON THE MANY LAWS AND REGULATIONS, JUDICIAL RULINGS THAT MUST BE COMPLIED WITH BY CORPORATIONS SPONSORING AN EMPLOYEE STOCK OWNERSHIP PLAN.
PROVIDING TECHNICAL ASSISTANCE TO MEMBERS AND THE PUBLIC: PUBLICATIONS, SEMINARS, AND EDUCATION ON ESOP COMPANY MANAGEMENT.
MEMBERSHIP: APPROXIMATELY 3,000 MEMBERS ARE PROVIDED INFORMATION ABOUT DEVELOPMENTS WITH REGARD TO FEDERAL GOVERNMENT LEGISLATIVE, REGULATORY, AND JUDICIAL ACTIVITIES DIRECTLY IMPACTING THE OPERATION AND CREATION OF ESOPS BY U.S. CORPORATIONS, VIA WRITTEN MATERIALS, SOCIAL MEDIA, AND WEBSITE POSTINGS. THE ASSOCIATION STAFF PROVIDES PRESENTATIONS TO THE MANY CONFERENCES AND MEETINGS NOTED IN 4A ABOVE. THE ASSOCIATION SELLS WRITTEN MATERIALS, AND ELECTRONIC MATERIALS ON THE OPERATION OF ESOPS IN A MANNER THAT IMPROVES CORPORATE PERFORMANCE, AND COMPLIES WITH LAW AND REGULATIONS. A MEMBERSHIP DIRECTORY IS PROVIDED THAT INCLUDESPROFESSIONALS WHO PROVIDE UNIQUE SERVICES TO CORPORATIONS SPONSORING ESOPS, A LISTING OF CORPORATE MEMBERS, BY STATE, AND BY LINE OF BUSINESS.
GOVERNMENT RELATIONS: IN ACCORD WITH ITS (C)(6) STATUS, THE ASSOCIATION PROVIDES REPRESENTATION SERVICES TO ITS MEMBERS, OR LOBBYING SERVICES, BY INTERACTING WITH ITS MEMBERS TO EXPRESS THEIR POSITIONS ON LEGISLATION AND REGULATIONS THAT IMPACT, OR MAY IMPACT ESOP OPERATIONS AND CREATION, AND BY INTERACTING WITH OFFICES OF CONGRESS, CERTAIN REGULATORY AGENCIES, PRIMARILY THE IRS AND DEPARTMENT OF LABOR, AND ON OCCASION BY FILING AMICUS BRIEFS IN SIGNIFICANT LAWSUITS THAT MAY IMPACT ESOP OPERATION AND CREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ali Jamshidi Chair | OfficerTrustee | 1 | $0 |
Karen Ellis Vice Chair | OfficerTrustee | 1 | $0 |
Derrick Vick Secretary/treasurer | OfficerTrustee | 1 | $0 |
Gary Shorman Immediate Past Chair | OfficerTrustee | 1 | $0 |
Lori Stuart Chair Advisory Committee | Trustee | 1 | $0 |
Cindy Turcot Chair Eof | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vc4 Llc Audio/visual | 12/30/22 | $405,030 |
Groom Law Group Chartered Legal Services | 12/30/22 | $160,000 |
Oconnor Consulting Services Llc Accounting Services | 12/30/22 | $110,231 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,073,359 |
| Investment income | $45,226 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $282,193 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,975 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,572,753 |
| 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. | $462,078 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,984,703 |
| Pension plan accruals and contributions | $92,131 |
| Other employee benefits | $354,126 |
| Payroll taxes | $162,403 |
| Fees for services: Management | $24,862 |
| Fees for services: Legal | $251,219 |
| Fees for services: Accounting | $108,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,232 |
| Fees for services: Other | $378,708 |
| Advertising and promotion | $28,501 |
| Office expenses | $541,301 |
| Information technology | $363,244 |
| Royalties | $0 |
| Occupancy | $298,707 |
| Travel | $357,762 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,893,146 |
| Interest | $4,146 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,726 |
| Insurance | $32,673 |
| All other expenses | $16,092 |
| Total functional expenses | $8,810,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,620 |
| Savings and temporary cash investments | $39,847 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $383,188 |
| 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 | $136,052 |
| Net Land, buildings, and equipment | $637,753 |
| Investments—publicly traded securities | $1,579,246 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,652,829 |
| Total assets | $5,217,535 |
| Accounts payable and accrued expenses | $400,885 |
| Grants payable | $0 |
| Deferred revenue | $1,547,250 |
| 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 | $2,786,195 |
| Total liabilities | $4,734,330 |
| Net assets without donor restrictions | $483,205 |
| 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 | $5,217,535 |