New Economy Coalition Inc
- Assets
- $2.5m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Boston, MA
- Founding
- 08/1981
- Data as of
- 12/2023
- EIN
- 03-0278626
Organization Overview
New Economy Coalition Inc is located in Boston, MA. The organization was established in 1981. According to its NTEE Classification (C99) the organization is classified as: Environment N.E.C., under the broad grouping of Environment and related organizations. As of 12/2023, New Economy Coalition Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Economy Coalition Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, New Economy Coalition Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 11.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, New Economy Coalition Inc has awarded 102 individual grants totaling $883,527. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEW ECONOMY COALITION EXISTS TO SUPPORT A JUST TRANSITION FROM AN EXTRACTIVE TO A REGENERATIVE ECONOMY BY BUILDING THE SCALE AND POWER OF THE SOLIDARITY ECONOMY MOVEMENT IN BLACK, INDIGENOUS, AND WORKING CLASS COMMUNITIES IN EVERY REGION OF THE UNITED STATES
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW ECONOMY COALITION ORGANIZES A NETWORK OF OVER 200 ORGANIZATIONS IMAGINING AND BUILDING JUST ECONOMIES THAT PLACE POWER IN THE HANDS OF PEOPLE AND UPROOT LEGACIES OF HARM. WE'RE DRIVEN BY A BELIEF THAT ALL OUR STRUGGLES - FOR RACIAL, ECONOMIC, AND CLIMATE JUSTICE; FOR TRUE DEMOCRATIC GOVERNANCE AND COMMUNITY OWNERSHIP; FOR PROSPERITY ROOTED IN INTERDEPENDENCE WITH THE EARTH'S NATURAL SYSTEMS - ARE DEEPLY INTERCONNECTED. RISING TO THE CHALLENGE OF BUILDING A BETTER WORLD DEMANDS THAT WE FUNDAMENTALLY TRANSFORM OUR ECONOMIC AND POLITICAL SYSTEMS.WE CONNECT OUR MEMBER ORGANIZATIONS WORKING ACROSS ISSUES AND MOVEMENTS SO THEY CAN COLLABORATE, SHARE SKILLS, AND PROVIDE MUTUAL AID.WE REGULARLY SOLICIT FEEDBACK FROM OUR MEMBERS AND PROVIDE TRAININGS AND TOOLS BASED ON THE NEEDS AND INTERESTS OUR MEMBERS EXPRESS.WE RESOURCE GRASSROOTS GROUPS DEEPLY IMPACTED BY INJUSTICE AND ENVIRONMENTAL DESTRUCTION AND WHO ARE DEVELOPING CUTTING-EDGE JUST, DEMOCRATIC, SUSTAINABLE STRATEGIES AND SOLUTIONS.WE BUILD MOMENTUM FOR OUR MEMBERS' ACTIONS, INITIATIVES, AND CAMPAIGNS THROUGHWIDE-REACHING, EFFECTIVE COMMUNICATIONS.WE HOLD LARGE CROSS-ISSUE, CROSS-MOVEMENT SKILL-BUILDING, CONNECTION-BUILDING, AND KNOWLEDGE-BUILDING GATHERINGS THAT ARE OPEN TO EVERYONE INVESTED IN A JUST TRANSITION TO A SUSTAINABLE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Tittle Former Co-Chair | Trustee | 1 | $0 |
Marsha Jackson Co-Chair | OfficerTrustee | 1 | $0 |
Yvonne Yen Liu Co-Chair | OfficerTrustee | 1 | $0 |
Mike Strode Secretary, General Circle | OfficerTrustee | 1 | $0 |
Hendrix Berry Co-Treasurer | OfficerTrustee | 1 | $0 |
David Ferris Co-Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,495,093 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,495,093 |
| Total Program Service Revenue | $16,942 |
| Investment income | $31,708 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,551,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $405,913 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,041 |
| Compensation of current officers, directors, key employees. | $45,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,059,448 |
| Pension plan accruals and contributions | $14,913 |
| Other employee benefits | $205,233 |
| Payroll taxes | $101,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,845 |
| Fees for services: Accounting | $48,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,476 |
| Advertising and promotion | $2,275 |
| Office expenses | $48,864 |
| Information technology | $36,038 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $79,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,576 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,542 |
| Insurance | $7,099 |
| All other expenses | $5,760 |
| Total functional expenses | $2,272,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,972 |
| Savings and temporary cash investments | $1,913,038 |
| Pledges and grants receivable | $510,000 |
| Accounts receivable, net | $4,787 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,578 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,471,375 |
| Accounts payable and accrued expenses | $63,199 |
| Grants payable | $285,250 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $348,449 |
| Net assets without donor restrictions | $1,485,822 |
| Net assets with donor restrictions | $637,104 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,471,375 |
Grants Awarded
Over the last fiscal year, New Economy Coalition Inc has awarded $106,247 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
TIDES CENTER PURPOSE: SUPPORTING GRANT | $8,000 |
SOLIDARITY RESEARCH CENTER INC PURPOSE: SUPPORTING GRANT | $8,000 |
LIBRARY OF THE COMMONS CO INC PURPOSE: SUPPORTING GRANT | $10,000 |
CINCINNATI UNION COOPERATIVE INITIATIVE INC PURPOSE: SUPPORTING GRANT | $15,000 |
COLABORATIVA LA MILPA INC PURPOSE: SUPPORTING GRANT | $15,000 |
MADISON WORKERS COOPERATIVE INC PURPOSE: SUPPORTING GRANT | $15,247 |