Educational Institutions

Educational Assistance Ltd

  • Glen Ellyn, IL
  • www.inventorydonations.org

Mission Statement

EAL WAS CREATED IN 1982 TO FUND SCHOLARSHIPS FOR NEEDY COLLEGE STUDENTS BY CONVERTING DONATIONS OF EXCESS INVENTORY INTO FINANCIAL AID. WITH THE SUPPORT OF CORPORATE DONORS AND SCHOOLS, EAL PLACES INVENTORY ON COLLEGE CAMPUSES IN RETURN FOR GRANTING SCHOLARSHIPS. INVENTORY NOT SUITABLE FOR USE BY COLLEGES IS TURNED INTO CASH TO FUND A CASH SCHOLARSHIP PROGRAM AND EAL'S OFFICE AND WAREHOUSE OPERATIONS. SINCE 1982, EAL HAS SAVED COLLEGES OVER $15 MILLION IN OPERATING COSTS, FUNDED $890,000 IN DIRECT CASH SCHOLARSHIPS AND HELPED 10,000 NEEDY STUDENTS.

Main Programs

  1. INVENTORY SCHOLARSHIPS

ruling year

1982

Chairman of the Board since 2014

Self-reported

Hyde C Perce

President & Executive Director since 1995

Self-reported

Claudia Freed

Keywords

Self-reported

Inventory, Donations, In-Kind, Needy Students, Scholarships, Logistics

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Also Known As

EAL

EIN

36-3166932

 Number

4455011049

Physical Address

100 W. Roosevelt Rd Building A1-Suite 103

Wheaton, IL 60527

Contact

Cause Area (NTEE Code)

Scholarships, Student Financial Aid, Awards (B82)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

INVENTORY SCHOLARSHIPS

WE CREATE SCHOLARSHIPS FOR NEEDY COLLEGE STUDENTS

Category

Partnerships in Education

Population(s) Served

Poor/Economically Disadvantaged, Indigent, General

Male Children and Youth (infants - 19 years)

Female Children and Youth (infants - 19 years)

Budget

$539,762.00

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    OUR GOALS ARE #1) TO CREATE OPPORTUNITY FOR NEEDY STUDENTS TO ATTEND COLLEGE, 2) TO REDUCE THE QUANTITY OF OBSOLETE CORPORATE INVENTORY SENT TO THE LANDFILLS AND 3) TO HELP COLLEGES AND UNIVERSITIES TO REDUCE THEIR OPERATING COSTS.
  2. What are the organization's key strategies for making this happen?
    OUR STRATEGY IS CENTERED AROUND BUILDING LONG-TERM, MUTUALLY BENEFICIAL RELATIONSHIPS WITH CORPORATE DONORS AND COLLEGES. OUR IDEAL DONOR AND SCHOOL PARTNERS ARE SOCIALLY RESPONSIBLE AND INNOVATIVE IN THEIR ATTITUDE AND PRACTICES.
  3. What are the organization's capabilities for doing this?
    WE HAVE A SUCCESSFUL TRACK RECORD OF 32 YEARS ACCOMPLISHING OUR MISSION THROUGH THOUGHTFUL LEADERSHIP, COMMITTMENT TO OUR CORE VALUES AND RESOURCEFULNESS. OUR SENIOR MANAGEMENT TEAM HAS BEEN UNDER THE LEADERSHIP OF OUR EXECUTIVE DIRECTOR FOR THE LAST 18 YEARS. WE HAVE ASSAMBLED A TEAM OF VOLUNTEER BOARD MEMBERS, PRO-BONO EXPERTS AND COLLABORATORS ACROSS MANY DISCIPLINES AND SECTORS INCLUDING ENVIRONMENT, LAW, LOGISTICS, FINANCIAL AID, BUSINESS DEVELOPMENT, DIVERSITY, MEDIA AND PHILANTHROPY.
  4. How will they know if they are making progress?
    OUR PROGRESS AGAINST GOALS IS MEASURED ON A QUARTERLY BASIS TO ADJUST FOR ANY CHANGES IN DONATION FLOW. WE RUN A VERY LEAN OPERATION WITH A WELL DESIGNED SYSTEM OF CHECKS AND BALANCES. WE ARE RESPECTED IN THE INDUSTRY AND THOUGHT OF AS A LEADER IN PRODUCT PHILANTHROPY. SPECIFICALLY, OUR PROGRESS IS MEASURED BY THE NUMBER OF STUDENTS WE ARE ABLE TO HELP EACH YEAR, THE NUMBER OF DONORS AND THE QUANTITY OF INVENTORY THEY GIVE AND THE NUMBER OF SCHOOLS THAT SIGN UP TO PARTICIPATE.
  5. What have and haven't they accomplished so far?
    2013 AND 2014 YTD HAVE BEEN RECORD YEARS FOR OUR OURGANIZATION AS WE HAVE EXCEEDED ALL PREVIOUS BENCHMARKS IN TERMS OF CREATING SCHOLARSHIPS, FUNDS RAISED AND DONATIONS RECEIVED.

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

EDUCATIONAL ASSISTANCE, LTD.
Fiscal year: Jan 01-Dec 31
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

Educational Assistance Ltd

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair and Board Co-Chair
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

Chairman of the Board

Hyde C Perce

President & Executive Director

Claudia Freed

BIO

Mr. Perce is a retired IBM executive.

STATEMENT FROM THE Chairman of the Board

"Our mission is “To create scholarships for financially needy students from donations of inventory and other gifts.”"

Governance

BOARD CHAIR

Mr. Hyde C Perce

Educational Assistance Ltd.

Term: Jan 2014 - Jan 2016

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization

Yes

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Yes

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

Yes

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Yes

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

Yes

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?