Economy Shop

Nonprofit profile at a glance

EIN
362177156
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Oak Park, IL, USA
Phone
7083832449
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$510,821
Expenses
$527,653
Assets
$451,120
Liabilities
$10,237

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

28 people listed

Executive titles in this filing

  • Lisa Sorensen (President)

Highest reported compensation

  • Ellen Brooks (Operations Manager): $51,462 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Economy Shop sells donated clothing and other household items to the general public and utilizes the funds raised to support local charitable organizations.

What it reported doing in 2024

Program services

Operating model

Revenue model
Investment-supported. 86% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 47% for direct work, and 53% for grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.3%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 12.5% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.4% of spending went to programs
  • Governance: 27 of 27 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $440K in reported program spending
  • Leadership: top reported pay $51K · 28 people listed
  • Consistency: 45 of 45 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.