Economic Improvement Council
Legal name: Economic Improvement Council Inc
Nonprofit profile at a glance
- EIN
- 560857026
- IRS 990 coverage
- 2012–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Edenton, NC, USA
- Phone
- (252) 482-4495
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $26,348,882
- Expenses
- $25,687,677
- Assets
- $5,681,012
- Liabilities
- $639,199
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Dr William Sawyer (President)
- Melvin Norman (Vice President)
Highest reported compensation
- Landon Mason (Executive Dir.): $257,866 total reported compensation
- Jose Taylor (CFO): $132,582 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
It is the Mission of the Economic Improvement Council, Inc. in partnership with the communities to promote the economic, physical and social well-being of its customers by providing high quality services to assist low-income people to become self-sufficient.
What it reported doing in 2024
Weatherization Assistance Program designed to deliver energy efficiency service to low income households. Funds are used to improve the energy performance of dwellings of lowincome families using the most advanced technologies and testing protocols available in the housing industry.
Operating model
- Revenue model
- Grant-funded. 99% of the money available for current operations came from government grants.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 69% for direct work, and 31% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 83
- Accountability: 84
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.4%; rating input score 92
- Program expense ratio: 94.8%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.5%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 0.22; rating input score 5; 5th percentile among comparable filings
- Liabilities to assets ratio: 0.11; rating input score 71; 71st percentile among comparable filings
- Officer compensation ratio: 1.5%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 7.3% per year; rating input score 100; 58th percentile among comparable filings
- Revenue growth: 7.6% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: 6.8% per year; rating input score 100; 47th percentile among comparable filings
Details
- What they do: 6 programs and campaigns described on the official site · 13 operating locations identified
- Where the money goes: 92.4% of revenue deployed · 94.8% of spending went to programs
- Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $24.3M in reported program spending
- Leadership: top reported pay $258K · 15 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.1M reported
- Consistency: 30 of 30 current checks pass
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 5/100.
- Moderate — Sustainability: Operating margin scored 44/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.