Overview
What is Economy Shop?
Economy Shop is a nonprofit organization situated in Oak Park, Illinois, specifically at 103 S GROVE AVE. Their primary mission involves selling donated clothing and household items to the general public. The funds generated from these sales are then channeled towards supporting various local charitable organizations. By engaging in this activity, Economy Shop plays a significant role in the community, utilizing second-hand items to raise funds and provide aid to numerous local charities. With a workforce of six dedicated individuals, Economy Shop serves as a bridge between surplus items and the needy, contributing to the well-being of their community.
Official website here: www.economyshop.org
Is Economy Shop legitimate?
Economy Shop is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economy Shop submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $37,370
Professional Fundraising Fees: $0
Other Salaries and Wages: $56,775
For more financial information, click here
Official website here: www.economyshop.org
What is the mission statement of Economy Shop?
The Economy Shop's mission is centered around selling donated clothing and household items to the public. The primary objective of these sales is to raise funds, which are then allocated to support various local charitable organizations. By doing so, the Economy Shop contributes to the betterment of local communities, providing them with much-needed resources and assistance. The shop's activities serve as a bridge between individuals looking for affordable items and deserving charities seeking financial support.
Official website here: www.economyshop.org
Who is the CEO of Economy Shop?
Lisa Sorensen is the Operations D of Economy Shop.
Official website here: www.economyshop.org
What is the revenue of Economy Shop?
Economy Shop's revenue in 2022 was $284,336.
Official website here: www.economyshop.org
Who are the executives of Economy Shop and what are their salaries?
The average compensation at Economy Shop during 2022 was $15,691. There are 6 employees at Economy Shop.
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Official website here: www.economyshop.org
Where can I find the form 990 for Economy Shop?
Economy Shop's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.economyshop.org
Learn more at the official website: www.economyshop.org
Mission Statement of Economy Shop
Economy Shop, a nonprofit organization, operates by selling donated clothing and household items to the general public. The primary objective of this venture is to generate funds, which are then channeled towards supporting various local charitable organizations. By engaging in this activity, Economy Shop serves as a valuable bridge between individuals seeking affordable items and charities in need of financial aid. The shop's operations provide an innovative approach to philanthropy, making it possible for individuals to contribute to their community's well-being through their everyday shopping habits.
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Impact
October, 2024
Economy Shop plays a vital role in the community by providing a sustainable outlet for donated clothing and household items. By selling these items to the general public, it not only promotes recycling and reduces waste but also supports local charitable organizations through the funds raised. This creates a positive economic impact, as the funding helps address various community needs and initiatives. The shop fosters a sense of community engagement, encouraging residents to participate in the cycle of giving and helping those in need. Additionally, it offers affordable shopping options for individuals and families, thereby enhancing accessibility to essential goods. Overall, Economy Shop contributes to both environmental sustainability and local philanthropy, making a significant impact in Oak Park, IL.
This information is meant to be a general summary of Economy Shop. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $126
- Gross Receipts: $284,336
Assets and Liabilities:
- Total Assets: $337,202
- Total Liabilities: $22
- Net Assets: $337,180
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Organization Details
Founding Year
1922
Phone
(708) 383-2449Principal Officer
Lisa Sorensen
Main Address
103 S GROVE AVE, OAK PARK, IL, 60302
Website
www.economyshop.orgNTEE Category
Code: T11 - Philanthropy
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