Western Economic Association International
- Assets
- $4.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Fountain Valley, CA
- Founding
- 02/1973
- Data as of
- 12/2021
- EIN
- 94-6136375
Organization Overview
Western Economic Association International is located in Fountain Valley, CA. The organization was established in 1973. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 12/2021, Western Economic Association International employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Economic Association International 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, Western Economic Association International generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $920.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE ECONOMIC RESEARCH AND DISCUSSION AND TO DISSEMINATE ECONOMIC KNOWLEDGE THROUGH ORGANIZING CONFERENCES AND PUBLISHING TWO SCHOLARLY JOURNALS: ECONOMIC INQUIRY AND CONTEMPORARY ECONOMIC POLICY.
Describe the Organization's Program Activity:
PUBLICATION OF TWO ACADEMIC JOURNALS: CONTEMPORARY ECONOMIC POLICY AND ECONOMIC INQUIRY.
ANNUAL CONFERENCES AND INTERNATIONAL CONFERENCES ON ECONOMICS AND RELATED CURRENT EVENTS
GRADUATE STUDENT WORKSHOP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wade Martin Executive Dir. | Officer | 40 | $140,000 |
Christina Romer President | OfficerTrustee | 1 | $0 |
Janet Currie Vice President | OfficerTrustee | 1 | $0 |
Laura Baldwin Scrtry/trsrr | OfficerTrustee | 1 | $0 |
Alan Auerbach Past President | OfficerTrustee | 1 | $0 |
Dora Costa President Elect | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $70,082 |
| 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 | $70,082 |
| Total Program Service Revenue | $772,683 |
| Investment income | $92,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $137,011 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,077,738 |
| 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. | $140,000 |
| Compensation of current officers, directors, key employees. | $25,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $249,008 |
| Pension plan accruals and contributions | $16,155 |
| Other employee benefits | $0 |
| Payroll taxes | $39,970 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,899 |
| Advertising and promotion | $0 |
| Office expenses | $10,036 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,180 |
| Travel | $9,295 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,544 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,053 |
| Insurance | $5,843 |
| All other expenses | $37,893 |
| Total functional expenses | $920,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,581 |
| Savings and temporary cash investments | $91,965 |
| Pledges and grants receivable | $0 |
| 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 | $4,798 |
| Net Land, buildings, and equipment | $1,662 |
| Investments—publicly traded securities | $3,995,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $205,064 |
| Total assets | $4,326,194 |
| Accounts payable and accrued expenses | $11,630 |
| Grants payable | $0 |
| Deferred revenue | $212,339 |
| 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 | $223,969 |
| Net assets without donor restrictions | $4,102,225 |
| 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 | $4,326,194 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gen Next Foundation Irvine, CA | $7,200,762 | $1,543,430 |
Western Economic Association International Fountain Valley, CA | $4,326,194 | $1,077,738 |
Radicalxchange Foundation Ltd Moraga, CA | $882,243 | $1,183,620 |
California Council On Economic Education Torrance, CA | $1,530,947 | $522,024 |
International Foundation For Research In Experimental Economiic Tucson, AZ | $0 | $15,455 |
Thomas R Brown Foundation Tucson, AZ | $2,505,392 | $2,045,037 |
Polish American Foundation For Econ Omic Research & Education Torrance, CA | $6,908 | $141,600 |
Institute For Sustainability Education And Ecology Eugene, OR | $137,428 | $0 |
Hawaii Council On Economic Education Honolulu, HI | $15,212 | $0 |
Horizon Institute Mammoth Lakes, CA | $0 | $0 |
Sfecon Chico, CA | $151 | $0 |
Technet Foundation Inc Santa Clara, CA | $0 | $0 |