Council for Economic Education

Analysis

Council for Economic Education is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1951, 75 years ago. Its declared purposes cover social science, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Council for Economic Education reported income of $6.0m and spending of $8.1m, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.6m to $6.0m (-9.0%), an average of -2.3% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Council for Economic Education sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Lookingglass Theatre Company ($6.0m), Performing Arts Center of Suffolk County Inc ($6.0m) and Literary Classics of the United States Inc ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $763k (9.4% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $3.3m against liabilities of $1.1m, net assets of $2.2m. It reported 50 employees.