Economic Club Of New York is located in New York, NY. The organization was established in 1938. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 12/2023, Economic Club Of New York employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Club Of New York 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, Economic Club Of New York generated $4.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ECONOMIC CLUB OF NEW YORK IS A NONPROFIT, NONPARTISAN, NONPOLITICAL ORGANIZATION DEDICATED TO THE PROMOTION OF THE STUDY AND DISCUSSION OF SOCIAL, ECONOMIC AND POLITICAL QUESTIONS. FOR MORE THAN A CENTURY, THE CLUB HAS SERVED AS THE PREMIER PUBLIC FORUM FOR THOUGHT LEADERS OF THE UNITED STATES AND THE WORLD, TO EXPRESS A DIVERSE SET OF VIEWS AND OPINIONS IN A FREE AND OPEN ENVIRONMENT. BY EMBRACING AND PROMOTING FREE EXPRESSION OF DIVERSE VIEWS AND OPINIONS, THE CLUB EFFECTIVELY ACTS AS A CATALYST FOR INNOVATION IN THOUGHT AND IDEAS IMPACTING SOCIAL, ECONOMIC AND POLITICAL ISSUES FACING SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIGNATURE LUNCHEONS AND OTHER EVENT TYPES: IN 2023, MORE THAN 5,000 MEMBERS AND GUESTS ATTENDED OUR 50 SIGNATURE EVENTS WHICH, AMONG MANY OTHERS, INCLUDED CONVERSATIONS WITH THE CHAIR OF THE FEDERAL RESERVE OF THE UNITED STATES JEROME POWELL, PRIME MINISTER OF JAPAN FUMIO KISHIDA, FORMER CEO OF XPO LOGISTICS BRAD JACOBS, AND HENRY KISSINGER. IN ADDITION, THE CLUB RECOGNIZED FORMER CEO OF MICROSOFT BILL GATES WITH THE PETERSON LEADERSHIP EXCELLENCE AWARD. IN ADDITION TO ITS REGULAR PROGRAMMING, THE CLUB LAUNCHED THE NYC ROUNDTABLE SERIES AT THE END OF 2022, AND EQUITY & INCLUSION PROGRAMMING IN 2020, BOTH OF WHICH CONTINUE TODAY.
MEMBERSHIP, CENTENNIAL & SALON: FOR OVER 117 YEARS, THE CLUB'S MEMBERS, DRAWN FROM SENIOR PUBLIC AND PRIVATE LEADERS, HAVE HAD THE OPPORTUNITY TO ENGAGE WITH EXPERT GUEST SPEAKERS INCLUDING ECONOMIC POLICYMAKERS, BUSINESS LEADERS AND GOVERNMENT OFFICIALS. THE CENTENNIAL SOCIETY IS CONSIDERED THE FINANCIAL BACKBONE OF THE CLUB AND PROVIDES A FORUM FOR OUR MOST ACTIVE MEMBERS TO CONNECT WITH EACH OTHER AND TO PROMOTE THE CLUB AS THE PREMIER NONPOLITICAL PUBLIC FORUM FOR THOUGHT LEADERS TO EXPRESS DIVERSE VIEWS AND OPINIONS IN A FREE AND OPEN ENVIRONMENT. CENTENNIAL SOCIETY MEMBERS ALSO HAVE THE OPPORTUNITY TO PARTICIPATE IN A SPECIAL OFF-THE-RECORD SALON SERIES. SALON SERIES SPEAKERS IN 2023 INCLUDED WILLIAM DUDLEY, FUMIO KISHIDA AND MEMBERS OF THE US HOUSE SELECT COMMITTEE ON THE CHINESE COMMUNIST PARTY.
NEXT GENERATION: THE CLUB IS COMMITTED TO DEVELOPING TALENTED BUSINESS AND ECONOMIC LEADERS THROUGHOUT THE VARIOUS STAGES OF THEIR CAREERS. THIS PIPELINE INCLUDES COMPLIMENTARY EVENT TICKETS FOR STUDENTS, SPECIALIZED PROGRAMMING FOR RISING EXECUTIVES WITH 7 TO 15 YEARS OF EXPERIENCE (ECNY FELLOWS), AND A TERMED MEMBERSHIP FOR MID-LEVEL EXECUTIVES UNDER THE AGE OF 45 (ASSOCIATE MEMBERS). IN 2023, NEARLY 2,200 STUDENTS FROM MORE THAN 15 COLLEGES AND UNIVERSITIES ATTENDED ECNY EVENTS. THE 71 FELLOWS OF THE CLASS OF 2023 WERE ALSO THE INAUGURAL COMPETITORS IN THE ECNY INNOVATION AND SOCIAL IMPACT CHALLENGE PROGRAM. ASSOCIATE MEMBERS ARE MID-LEVEL EXECUTIVES UNDER THE AGE OF 45 WHO GAIN ACCESS TO THE CLUB'S NETWORKING RESOURCES AND UNPARALLELED EVENTS FOR A 5-YEAR TERM. IN 2023, THE CLUB HAD 115 ASSOCIATE MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John C Williams Chair | OfficerTrustee | 1 | $0 |
Dan Schulman Vice Chair | OfficerTrustee | 1 | $0 |
Robert Steel Vice Chair | OfficerTrustee | 1 | $0 |
Ajay Baga Vice Chair | OfficerTrustee | 1 | $0 |
Marie-Josee Kravis Chair Emeritus | OfficerTrustee | 1 | $0 |
Edward Cox Secretary | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $1,470,283 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,115,450 |
Noncash contributions included in lines 1a–1f | $70,664 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,585,733 |
Total Program Service Revenue | $1,758,298 |
Investment income | $252,010 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $175,031 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,771,072 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $797,972 |
Compensation of current officers, directors, key employees. | $217,586 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,031,710 |
Pension plan accruals and contributions | $77,380 |
Other employee benefits | $282,401 |
Payroll taxes | $107,806 |
Fees for services: Management | $0 |
Fees for services: Legal | $23,418 |
Fees for services: Accounting | $30,275 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $72,669 |
Advertising and promotion | $0 |
Office expenses | $26,119 |
Information technology | $68,606 |
Royalties | $0 |
Occupancy | $102,567 |
Travel | $3,349 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $8,089 |
Insurance | $27,369 |
All other expenses | $0 |
Total functional expenses | $3,670,880 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $400 |
Savings and temporary cash investments | $492,997 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $252,416 |
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 | $23,091 |
Net Land, buildings, and equipment | $15,498 |
Investments—publicly traded securities | $10,136,232 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $6,541 |
Total assets | $10,927,175 |
Accounts payable and accrued expenses | $265,998 |
Grants payable | $0 |
Deferred revenue | $102,751 |
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 | $368,749 |
Net assets without donor restrictions | $10,478,426 |
Net assets with donor restrictions | $80,000 |
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 | $10,927,175 |