Better Business Bureau Report for
Educational Assistance Ltd.

Better Business Bureau Report issued May 2016
Better Business Bureau Report expires May 2018


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Educational Assistance Ltd.
Address: P.O. Box 3021
  Glen Ellyn, IL 60138
Phone: 630-690-0010
Web Address: http://www.inventorydonations.org/
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Better Business Bureau Comments

Year, State Incorporated: 1982, Illinois
Affiliates: None
Stated Purpose: At EAL, our mission is be a catalyst of transformation. We partner with businesses to transform their excess inventory into opportunities for institutions of higher learning to obtain much-needed equipment at lower costs. These colleges and universities extend the benefit of these savings in the form of lower tuition bills for needy students. This act of corporate kindness makes it possible to remove financial barriers that limit students’ pursuit of their own, personal transformation. The result: companies reduce waste, schools thrive, students prosper, society is strengthened and the environment is protected. This is the transformation that inspires us. Together with our partners, EAL makes it possible.

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Evaluation Conclusions

              

Educational Assistance Ltd. meets the 20 Standards for Charity Accountability.
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Programs

              

EAL leverages the circular economy by repurposing overstock materials to create financial aid for college students. By converting obsolete, excess, and unwanted materials into scholarships, EAL empowers financially challenged students and provides them with access to life-long learning. Corporate donors and colleges are bound in partnership with EAL to transform students lives. Our circular economy model furthers landfill avoidance goals and provides for meaningful reuse of valuable materials including equipment and supplies.

For the fiscal year ended December 31, 2015, Educational Assistance Ltd.'s program expenses were:

  
scholarships 1,059,590
donations to colleges 415,000
warhouse facilties 238,916
salaries 146,503
freight 71,623
payroll taxes 13,558
office rent 12,830
travel 10,490
telecommunication 1,265
office supplies 1,264
postage 164
Total Program Expenses: $1,971,203
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Governance

              

Chief Executive : Claudia Freed, President and CEO
Compensation*: 
$152,108

Chair of the Board: Richard Pflederer
Chair's Profession / Business Affiliation: Business Management

Board Size: 14

Paid Staff Size: 5

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

donor referrals
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $2,531,278, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Educational Assistance Ltd.'s audited financial statements for the fiscal year ended December 31, 2015.

Source of Funds  
donated property 2,531,278
cash 5,023
interest income 1,013
Total Income $2,537,314


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Uses of Funds as a % of Total Expenses

Programs: 86%  Fund Raising: 5%  Administrative: 9% 

Total income $2,537,314
Program expenses $1,971,203
Fund raising expenses 108,255
Administrative expenses 216,126
Total expenses $2,295,584
Income in Excess of Expenses 241,730
Beginning net assets 1,130,776
Ending net assets 1,423,748
Total liabilities 0
Total assets $1,449,448


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

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