Overview
What is Economy Shop Inc?
Economy Shop Inc is a nonprofit organization situated in Claremont, California. Their primary activity involves operating a secondhand store, where they accept and sell used items donated by community members. The main objective of this endeavor is to generate disposable income. This income, in turn, is distributed to various charitable organizations within the local community, effectively contributing to their causes.
Is Economy Shop Inc legitimate?
Economy Shop Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economy Shop Inc submitted a form 990EZ, 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.
What is the mission statement of Economy Shop Inc?
Economy Shop Inc's mission revolves around operating a secondhand store, where they collect used items from the community. The primary objective is to sell these items in the store. The disposable income generated from these sales is then allocated to support various charitable organizations within the community. The organization's mission is aimed at contributing to the community by providing a platform for recycling used items and distributing the proceeds to deserving causes.
Who is the CEO of Economy Shop Inc?
Richard Laughton is the President of Economy Shop Inc.
What is the revenue of Economy Shop Inc?
Economy Shop Inc's revenue in 2023 was $81,779.
Who are the executives of Economy Shop Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990EZ for Economy Shop Inc?
Economy Shop Inc's most recent form 990EZ was submitted in 2023 and can be accessed here.
Mission Statement of Economy Shop Inc
Economy Shop Inc, a nonprofit organization, is committed to serving its community by operating a secondhand store. Their primary mission is to collect unused items from local residents and sell them in the store. The revenue generated from these sales is not retained by the organization but is instead distributed as disposable income to various charitable organizations operating within the community. By engaging in this activity, Economy Shop Inc plays a significant role in supporting these charities and contributing to the betterment of its community.
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Impact
October, 2024
Economy Shop Inc has a significant impact on the Claremont community through its operation of a secondhand store. By collecting used items from local residents and reselling them, the organization promotes recycling and sustainability, reducing waste and encouraging responsible consumption. This initiative not only provides affordable goods to the community but also fosters a sense of community engagement and participation.
The income generated from these sales is crucial, as it is directed towards supporting various charitable organizations within the community. This financial support helps fund essential services and programs, benefitting local residents in need. Overall, Economy Shop Inc plays a vital role in enhancing community cohesion, promoting sustainability, and addressing social needs through its charitable contributions.
This information is meant to be a general summary of Economy Shop Inc. 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 2023.
- Investment Income: $310
- Program Service Revenue: $81,469
- Gross Receipts: $81,779
Assets and Liabilities:
- Total Assets: $69,557
- Total Liabilities: $0
- Net Assets: $69,557
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Organization Details
Phone
(909) 626-7334Principal Officer
Richard Laughton
Main Address
325 W First Street, Claremont, CA, 91711
NTEE Category
Code: Z99 - Unknown
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