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Nonprofiteer
← ECONOMIC INNOVATION GROUP INC

Form 990 for tax year 2022

Filed by ECONOMIC INNOVATION GROUP INC.

Totals

Total revenue
$5,211,631
Total expenses
$5,026,838
Contributions and grants received
$4,839,847
Grants paid
$0
Program service revenue
$296,375
Investment income
$75,409
Other revenue
$0
Total assets, end of year
$5,972,654
Total liabilities, end of year
$530,895
Net assets or fund balances, end of year
$5,441,759
Program services expenses (Part IX)
$4,517,729
Management and general expenses
$464,109
Fundraising expenses
$45,000
Program service expenses (Part III)
$4,517,729

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • John Lettieri

    PRESIDENT & CEO

    Total calculated
    $514,592
    From this org
    $466,466
    From related orgs
    $0
    Other
    $48,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $388,138
    Bonus
    $78,328
    Other
    $0
    Deferred
    $15,250
    Nontaxable benefits
    $32,876
    Filer's total
    $514,592

  • Jennifer Nordquist

    Executive Vice President

    Total calculated
    $321,962
    From this org
    $305,147
    From related orgs
    $0
    Other
    $16,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,984
    Bonus
    $44,163
    Other
    $0
    Deferred
    $15,250
    Nontaxable benefits
    $1,565
    Filer's total
    $321,962

  • Scott Shewcraft

    Vice President of Policy

    Total calculated
    $286,902
    From this org
    $273,240
    From related orgs
    $0
    Other
    $13,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,750
    Bonus
    $37,490
    Other
    $0
    Deferred
    $13,662
    Nontaxable benefits
    $0
    Filer's total
    $286,902

  • Adam Ozimek

    Chief Economist

    Total calculated
    $258,961
    From this org
    $227,180
    From related orgs
    $0
    Other
    $31,781
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,712
    Bonus
    $32,468
    Other
    $0
    Deferred
    $11,269
    Nontaxable benefits
    $20,512
    Filer's total
    $258,961

  • Kenan Fikri

    Director of Research

    Total calculated
    $209,775
    From this org
    $199,786
    From related orgs
    $0
    Other
    $9,989
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,819
    Bonus
    $32,967
    Other
    $0
    Deferred
    $9,989
    Nontaxable benefits
    $0
    Filer's total
    $209,775

  • Milica Cosic

    Chief of Staff

    Total calculated
    $203,439
    From this org
    $186,831
    From related orgs
    $0
    Other
    $16,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,706
    Bonus
    $31,125
    Other
    $0
    Deferred
    $9,431
    Nontaxable benefits
    $7,177
    Filer's total
    $203,439

  • SEAN PARKER

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL POLANKSY

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOE SANBERG

    DIRECTOR (Thru May 2022)

    Total calculated
    $0
    Hours/week
    1

  • JAMES LEE SORENSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1 - FIRST CLASS TRAVEL:
FIRST CLASS TRAVEL MAY BE APPROVED ON A CASE-BY-CASE BASIS IF IT'S DETERMINED THAT THE COST IS MINIMAL and it is beneficial to the business purpose of EIG. THE ORGANIZATION DOES NOT TREAT THE FIRST-CLASS TRAVEL COST WHEN PAID AS TAXABLE COMPENSATION.
Part I, Line 7: NONFIXED PAYMENTS
Bonus for the CEO is subject to board review and approval. Other employee's bonuses are based on performance review on a yearly basis by the CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343209349301534

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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