Overview
What is Employee Ownership Expansion Network?
Employee Ownership Expansion Network (EOX) is a nonprofit organization situated in Arlington, Virginia, with a mission to expand employee ownership throughout the United States. They achieve this by assisting volunteer ambassadors in establishing individual 501(c)(3) non-profit centers for employee ownership in various states. EOX raises funds, some of which are granted to these state centers to cover start-up and operational costs. Additionally, EOX offers guidance on best practices for running a state center, aiming to increase the number of employee-owned enterprises across the nation. The organization currently employs five individuals.
Official website here: www.eoxnetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (73%, Two-Star out of Four Star rating)
The Employee Ownership Expansion Network has received a "Needs Improvement" rating from Charity Navigator, indicating potential concerns regarding its overall effectiveness and governance. While the organization excels in accountability and finance, scoring 100% in those areas, it has significant shortcomings that negatively impact its rating. These include a high liabilities to assets ratio of 153.30% and missing critical policies like the whistleblower and document retention policies.
User feedback highlights serious issues within the organization. A review from a professional in the field described it as largely ineffective, accusing the nonprofit of discrimination and mismanagement. This reviewer specifically pointed out alleged unethical practices, including retaliation against employees, which raises concerns about the organization's commitment to its stated mission of alleviating poverty and wealth disparity.
Overall, while the Employee Ownership Expansion Network demonstrates strong accountability in its financial practices, the absence of necessary governance policies and troubling user experiences suggest that potential supporters should approach with caution and consider other organizations in the employee ownership space.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Employee Ownership Expansion Network legitimate?
Employee Ownership Expansion Network is a legitimate nonprofit organization registered as a 501(c)(3) entity. Employee Ownership Expansion Network 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: $164,037
Professional Fundraising Fees: $9,450
Other Salaries and Wages: $166,699
For more financial information, click here
Official website here: www.eoxnetwork.org
What is the mission statement of Employee Ownership Expansion Network?
The Employee Ownership Expansion Network's mission is to substantially increase employee ownership across the United States. To accomplish this, they aim to establish and support a network of independent nonprofit state centers for employee ownership. The centers serve as resources for employee ownership ambassadors and volunteers, helping them establish 501(c)(3) non-profit state employee ownership centers. The Network raises funds, some of which are granted to these centers to cover start-up and ongoing costs associated with running the centers. Additionally, EOX provides services to each state center, sharing best practices for managing a state center effectively.
Official website here: www.eoxnetwork.org
Who is the CEO of Employee Ownership Expansion Network?
Steve Storkan is the Executive Director & Secre of Employee Ownership Expansion Network.
Official website here: www.eoxnetwork.org
What is the revenue of Employee Ownership Expansion Network?
Employee Ownership Expansion Network's revenue in 2022 was $509,132.
Official website here: www.eoxnetwork.org
Who are the executives of Employee Ownership Expansion Network and what are their salaries?
The average compensation at Employee Ownership Expansion Network during 2022 was $66,147. There are 5 employees and 5 volunteers at Employee Ownership Expansion Network.
Here are 6 key members and their salaries:
- Compensation: $135,800
- Related: $0
- Other: $27,586
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.eoxnetwork.org
Where can I find the form 990 for Employee Ownership Expansion Network?
Employee Ownership Expansion Network's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.eoxnetwork.org
Learn more at the official website: www.eoxnetwork.org
Mission Statement of Employee Ownership Expansion Network
The Employee Ownership Expansion Network, abbreviated as EOX, aims to significantly increase the number of employee-owned enterprises across the United States. To achieve this goal, EOX is establishing and supporting a network of independent nonprofit state centers for employee ownership. By raising funds, some of which are granted to these nonprofit state centers, EOX assists in covering the start-up and ongoing costs associated with running these centers. Additionally, EOX provides services to each state center, sharing best practices in managing and operating a state center for employee ownership. The ultimate objective of EOX is to expand employee ownership nationwide, enhancing the economic opportunities and stability of businesses and their employees.
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Impact
July, 2024
The impact of the Employee Ownership Expansion Network is significant in increasing the number of employee-owned enterprises across the United States. Through establishing and supporting a network of independent state centers for employee ownership, EOX is working to expand employee ownership throughout the country. By assisting employee ownership ambassadors/volunteers in opening individual nonprofit state employee ownership centers, providing grants for startup and ongoing costs, and offering services on best practices, EOX is making a tangible difference in promoting employee-owned businesses and empowering workers.
This information is meant to be a general summary of Employee Ownership Expansion Network. 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.
- Program Service Revenue: $55,787
- Gross Receipts: $509,132
Assets and Liabilities:
- Total Assets: $448,140
- Total Liabilities: $369,880
- Net Assets: $78,260
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE FOR SERVICES
Revenue
$50,837
TRAINING MATERIALS
Revenue
$4,950
Organization Details
Founding Year
2018
Phone
(651) 319-1874Principal Officer
Steve Storkan
Main Address
1405 S FERN STREET BOX 534, ARLINGTON, VA, 22202
Website
www.eoxnetwork.orgNTEE Category
Code: J11 - Employment
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