The Institute For New Economic Thinking Inc is located in New York, NY. The organization was established in 2010. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 12/2021, Institute For New Economic Thinking Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For New Economic Thinking 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 12/2021, Institute For New Economic Thinking Inc generated $24.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.3%) each year. All expenses for the organization totaled $7.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (18.1%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Institute For New Economic Thinking Inc has awarded 79 individual grants totaling $5,095,405. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE FOR NEW ECONOMIC THINKING, INC. ("INET") PROVIDES FRESH INSIGHT AND THINKING TO PROMOTE CHANGES IN ECONOMIC THEORY AND PRACTICE THROUGH CONFERENCES, GRANTS, AND EDUCATION INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCHIN 2021, INET SUPPORTED OVER 50 ORGANIZATIONS WITH CORE MAIN GRANT FUNDING, TOTALING OVER $1.2 MILLION DISBURSED. THIS INCLUDES MORE THAN HALF A MILLION DOLLARS IN NEW GRANTS TO ORGANIZATIONS RANGING FROM THE USA AND CANADA, THROUGH GERMANY AND ITALY, TO GHANA AND BEYOND.AFTER A 2020 IN WHICH MANY RESEARCHERS WERE ADJUSTING TO A NEW PANDEMIC NORMAL, INE-SPONSORED RESEARCH BORE MUCH FRUIT. INET PUBLISHED 103 ARTICLES AND 30 WORKING PAPERS FROM THE INET COMMUNITY ON THE KEY ECONOMIC QUESTIONS COVERING ISSUES SUCH AS; INFLATION, ANTITRUST, MACROECONOMIC FINANCE, MASS INCARCERATION, UNEMPLOYMENT, PRIVATIZED EDUCATION, RACE, ECONOMIC HISTORY, BIG TECH AND AI (ARTIFICIAL INTELLIGENCE).INET RELEASED ANOTHER BOOK IN ITS JOINT SERIES WITH CAMBRIDGE UNIVERSITY PRESS, NICHOLAS MANGEE'S "HOW NOVELTY AND NARRATIVES DRIVE THE STOCK MARKET: BLACK SWANS, ANIMAL SPIRITS AND SCAPEGOATS."
MULTIMEDIA PRODUCTIONIN 2021, INET'S POPULAR "ECONOMICS & BEYOND" PODCAST WITH ROB JOHNSON RECORDED MORE THAN 100 EPISODES, LEVERAGING INET'S UNPARALLELED NETWORK OF SCHOLARS AND AFFILIATES. THE PODCAST FEATURES INTERVIEWS WITH SOME OF THE WORLD'S MOST IMPORTANT THINKERS, ARTISTS, AND ACTIVISTS ABOUT OUR MOST CRITICAL ISSUES. IN THE REALM OF VIDEO AND RELATED CONTENT, INET RELEASED 75 NEW WORKS, RANGING FROM LONG FORM EDUCATIONAL VIDEO SERIES TO ANIMATED EDUCATIONAL VIDEOS TO VIDEOCASTS AND INTERVIEWS.THE EDUCATION SERIES ON FEMINIST ECONOMICS WITH JAYATI GHOSH, WON MULTIPLE TELLY AWARDS AND WAS NOMINATED FOR WEBBY AWARDS. THE SERIES INTRODUCES, EXPLAINS, AND DEFENDS THE FACT THAT THE ECONOMY IS NOT GENDER NEUTRAL, BUT ACTUALLY RELIES ON GENDER IMBALANCES TO FUNCTION AND GROW. 2021 BROUGHT THREE VIDEOS IN THE AWARD-WINNING INET ANIMATES SERIES, NARRATED RESPECTIVELY BY ANDREW SHENG, JAYATI GHOSH, AND SURESH NAIDU. TOP THINKERS VOICE THEIR INSIGHTS ON CENTRAL ISSUES OF ECONOMICS AND SOCIETY, ACCOMPANIED BY ILLUMINATING HOMEGROWN GRAPHICS, AIMED AT A BROAD AUDIENCE. 2021 ALSO BROUGHT 13 TRADITIONAL NEW ECONOMIC THINKING INTERVIEWS, CONVERSATIONS WITH LEADING ECONOMISTS ON THE MOST IMPORTANT ISSUES FACING ECONOMICS AND THE GLOBAL ECONOMY TODAY.
YOUNG SCHOLARS INITIATIVE IN 2021 Y.S.I. RETURNED TO ITS CORE: WORKING GROUPS, SCHOLARLY PROJECTS, COMMUNITY BUILDING, ECON EDUCATION, AND CAREER DEVELOPMENT. THE MEMBERSHIP GREW BY 2,279 TO 17,592, AND THE INTENSELY INVOLVED COHORT OF COORDINATORS AND ORGANIZERS PEAKED AT 341. THESE INDIVIDUALS SPEND VERY SIGNIFICANT TIME RUNNING WORKING GROUPS, ORGANIZING EVENTS, KEEPING THIS GRASS ROOTS ORGANIZATION VIBRANT. THEIR LEADERSHIP LEAD TO RECORD ACTIVITY 247 TOTAL EVENTS IN ONE YEAR UNDER THE YSI BANNER. ONCE AGAIN YSI'S PROGRAMMING IS EXTREMELY GEOGRAPHICALLY DIVERSE WITH WORKSHOPS IN GERMANY, SPAIN, ITALY, UK, ECUADOR, ARGENTINA, BRAZIL, KENYA, DEMOCRATIC REPUBLIC OF CONGO, SOUTH AFRICA AND MORE. YSI HAS CEMENTED ITS IDENTITY AS A GLOBAL ORGANIZATION.IN RESPONSE TO ITS MEMBERSHIP, YSI LAUNCHED ITS "EARLY CAREER DAYS" SEMINARS IN WHICH EARLY CAREER ECONOMISTS ARE MENTORED BY EMINENT ECONOMISTS. THEY THEN WORK COOPERATIVELY TO ADDRESS VARIOUS CHALLENGES THAT LITTER THE PATH FROM EARLY GRADUATE SCHOOL TO TENURE, ESPECIALLY FOR NON-TRADITIONAL THINKERS AND INNOVATIVE TEACHERS. YSI CONTINUED ITS UNCTAD (UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT) SUMMER SCHOOL, A FULL WEEK OF INTENSE ECONOMICS, ATTENDED THIS YEAR BY OVER 700 YOUNG SCHOLARS.
SIGNIFICANT OTHER PROGRAMS:INET'S COMMISSION ON GLOBAL ECONOMIC TRANSFORMATION ADJUSTED TO A VIRTUAL BODY, AND ITS WORK PROCEEDED APACE. CGET RELEASED AN INTERIM REPORT FOCUSING ON ACTIONS THAT NEED TO BE TAKEN IMMEDIATELY TO GET THE PANDEMIC UNDER CONTROL AND TO ENSURE A PROMPT AND ROBUST RECOVERY.THE RICH ONLINE WEBINAR SERIES THAT CAME OUT OF THE PANDEMIC YEAR PROVED TO BE AN EFFICIENT AND MAGNETIC MODEL FOR AUDIENCES, AND IN 2021 INET HOSTED 20 HIGH-LEVEL ONLINE PUBLIC DISCUSSIONS COVERING CLIMATE CHANGE, PANDEMIC RECOVERY, RACE AND ECONOMICS, AND MORE, WITH SPECIAL ATTENTION TO ECONOMICS' ROLE IN THESE ISSUES, AND THE LESSONS FOR ECONOMICS. INET ALSO EXPANDED ITS SUBSTANTIAL FOOTPRINT OF EVENT PROGRAMMING IN INDIA, WITH A MIX OF ONLINE AND IN-PERSON ACTIVITIES. AS ONE EXAMPLE, INET HOSTED ITS LAW, ECONOMICS & POLICY CONFERENCE (LEPC) AS A VIRTUAL, MULTI-CAPSULE CONFERENCE SERIES THAT AIMS TO BRING TOGETHER LEGAL, ECONOMIC, AND PUBLIC POLICY THINKERS TO CONSIDER A VARIETY OF REAL-WORLD ISSUES IN INDIA. INET CONTINUED ITS ONGOING COOPERATION WITH SCHOLAS OCCURRENTES ON THE FUTURE OF EDUCATION, CONTINUED THE WORK OF ITS CENTER FOR INNOVATION, GOVERNANCE AND SOCIETY, AND IMPROVED THE AFFILIATED "HISTORY OF ECONOMIC THOUGHT" WEBSITE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert Johnson President | OfficerTrustee | 40 | $591,270 |
Jason Shure Cfo/ Secretary | Officer | 40 | $272,250 |
Donna Folkerts Chief Admin Officer | Officer | 40 | $221,953 |
Sharmini Peries Editor And VP Communications | 40 | $204,800 | |
Matthew Kulvicki Director Of Film And Video | 40 | $200,702 | |
Tom Ferguson Research Director | 40 | $196,626 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Pryor Cashman Legal Services | 12/30/21 | $213,525 |
Lynn Paramore Editing Services | 12/30/21 | $133,200 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,109,575 |
All other contributions, gifts, grants, and similar amounts not included above | $23,700,760 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $24,810,335 |
Total Program Service Revenue | $0 |
Investment income | $2,666 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $9,600 |
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 | $24,831,883 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $310,670 |
Grants and other assistance to domestic individuals. | $37,000 |
Grants and other assistance to Foreign Orgs/Individuals | $224,320 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,265,863 |
Compensation of current officers, directors, key employees. | $357,984 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,029,779 |
Pension plan accruals and contributions | $194,402 |
Other employee benefits | $283,837 |
Payroll taxes | $192,397 |
Fees for services: Management | $0 |
Fees for services: Legal | $252,062 |
Fees for services: Accounting | $48,050 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $880,708 |
Advertising and promotion | $57,290 |
Office expenses | $116,630 |
Information technology | $313,184 |
Royalties | $0 |
Occupancy | $301,043 |
Travel | $121,475 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $55,039 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $369,409 |
Insurance | $44,606 |
All other expenses | $0 |
Total functional expenses | $7,232,289 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $25,486,758 |
Savings and temporary cash investments | $188,808 |
Pledges and grants receivable | $621,558 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,237 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $22,479 |
Net Land, buildings, and equipment | $284,213 |
Investments—publicly traded securities | $29,968 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $7,736 |
Total assets | $26,645,757 |
Accounts payable and accrued expenses | $301,090 |
Grants payable | $1,419,316 |
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 | $1,720,406 |
Net assets without donor restrictions | $24,899,748 |
Net assets with donor restrictions | $25,603 |
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 | $26,645,757 |
Over the last fiscal year, The Institute For New Economic Thinking Inc has awarded $294,170 in support to 6 organizations.
Grant Recipient | Amount |
---|---|
New York, NY PURPOSE: STIGLITZ POST-DOCTORAL FELLOWSHIP | $93,843 |
Cambridge, MA PURPOSE: MASS-PRODUCING COVID-19 VACCINES: CAPACITY, SCALE, AND CONTROL | $66,000 |
Salt Lake City, UT PURPOSE: SOCIAL AND SECTORAL INFLUENCES IN THE EVOLUTION OF AMERICAN ANTITRUST LAW | $49,500 |
Charlottesville, VA PURPOSE: STEERING PROGRESS IN ARTIFICIAL INTELLIGENCE | $46,477 |
New York, NY PURPOSE: MONEY AND THINGS: HOW FINANCE SHAPES THE WORLD ITS MEANT TO REFLECT | $28,350 |
Washington, DC PURPOSE: UNDERSTATED UNEMPLOYMENT | $10,000 |
Over the last fiscal year, we have identified 5 grants that The Institute For New Economic Thinking Inc has recieved totaling $28,848,000.
Awarding Organization | Amount |
---|---|
Open Society Institute New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $23,500,000 |
Open Society Institute New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $5,250,000 |
Mai Family Foundation New York, NY PURPOSE: CHARITABLE | $50,000 |
Amalgamated Charitable Foundation Inc Washington, DC PURPOSE: General operating support | $25,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE 2022 YOUNG SCHOLARS INITIATIVE ANNUAL MEETING, WORKING GROUPS AND PROJECT SUPPORT RELATING TO THE TOPICS OF FUTURE OF WORK AND INNOVATION. 202107-10894 | $23,000 |
Organization Name | Assets | Revenue |
---|---|---|
American Institute For Economic Research Inc Great Barrington, MA | $214,395,947 | $3,768,400 |
The Institute For New Economic Thinking Inc New York, NY | $26,645,757 | $24,831,883 |
Council For Economic Education New York, NY | $5,635,385 | $6,851,531 |
Secured Finance Network Inc New York, NY | $3,073,536 | $3,338,734 |
Sifma Foundation For Investor Education Fie Inc New York, NY | $10,781,139 | $4,561,649 |
Economic Club Of New York New York, NY | $9,916,092 | $3,506,192 |
Center For Economic Growth Albany, NY | $2,002,118 | $2,266,001 |
Applied Economics Clinic Arlington, MA | $422,527 | $1,026,764 |
Schumacher Center For A New Economics Great Barrington, MA | $912,234 | $672,691 |
Institute For Economics And Peace New York, NY | $187,362 | $427,518 |
Mainsail Network Inc New York, NY | $57,987 | $204,862 |
Cloud Institute For Sustainability Education Ancram, NY | $83,303 | $249,374 |