Illinois Council on Economic Education D/b/a Econ Illinois

Nonprofit profile at a glance

EIN
362650453
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Dekalb, IL, USA
Phone
8157538245
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economics

Official website

Reported finances

Revenue
$259,221
Expenses
$170,428
Assets
$608,266
Liabilities
$27,485

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

44 people listed

Executive titles in this filing

  • LUANNE MAYORGA (EXECUTIVE DIRECTOR)

People named in this filing

  • PAMELA C PIAROWSKI (CHAIRMAN)
  • MARTIN CABRERA (MEMBER)
  • TOM CULLERTON (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist k-12 schools in integrating the teaching of economics and personal finance across the curriculum in order to help all Illinois students gain the skills and knowledge to be economically and financially literate by the time they graduate high school.

What it reported doing in 2018

Special program services - the council conducted multiple special projects during the fiscal year related to the promotion of economics and personal finance for the purposes of providing economic and financial literacy education to school administrators, teachers, students as well as to the public. Illinois council on economic education offers a variety of services, resources and programs throughout the state which promote economic and financial literacy. These include but are not limited to: economics challenge, personal finance challenge, economics concepts poster contest, chicago summer business institute as well as a variety of teacher training workshops and courses designed to assist hundreds of schools integrate and implement economics and financial literacy into their curriculum.program service accomplishments: stock market game - middle and high school student teams compete for the highest portfolio values in a ten week project that simulates buying and selling of common stock on the nyse, ase and nasdaq.teachers recognition program - the annual economic education awards program recognized Illinois teachers who have been exceptionally effective in guiding their students to an understanding of economic concepts through innovative classroom projects.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 76
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.6%; rating input score 50
  • Program expense ratio: 71.6%; rating input score 72
  • Fundraising efficiency: $20.79 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.3%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 34.3%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 3.57; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: -9.9% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -6.8% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -3.8% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 49.6% of revenue deployed · 71.6% of spending went to programs
  • Governance: 41 of 43 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $122K in reported program spending
  • Leadership: top reported pay $0 · 44 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.