New Growth Innovation Network
- Assets
- $626.6k
- Revenue
- $838.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Miami, FL
- Founding
- 10/2019
- Data as of
- 12/2021
- EIN
- 83-1833081
Organization Overview
New Growth Innovation Network is located in Miami, FL. The organization was established in 2019. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, New Growth Innovation Network employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Growth Innovation Network 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, New Growth Innovation Network generated $838.9k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $828.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A ROBUST FIELD OF INCLUSIVE GROWTH PRACTICE THAT DRIVES A MORE INCLUSIVE, PROSPEROUS ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, NGIN ENGAGED WITH ECONOMIC DEVELOPMENT LEADERS AND ADVANCED THE PRACTICE OF INCLUSIVE ECONOMIC GROWTH. (1) BUILDING THE COMMUNITY OF PRACTITIONERS - NGIN EXTENDED ITS COMMUNITY OF ECONOMIC PRACTITIONERS, INCREASING KNOWLEDGE, INSIGHTS AND COMMITMENT TO MORE INCLUSIVE AND EQUITABLE ECONOMIC GROWTH PRACTICES (2) BUILDING THE INSIGHTS, TOOLS AND PLATFORM - NGIN LAUNCHED PUBLICATIONS, NGIN HOSTED A SERIES OF VIRTUAL ROUNDTABLES AND A COMMUNITY OF PRACTICE FOR PEER-TO-PEER EXCHANGE, SHARING KNOWLEDGE ON SPECIFIC TOPICS AND BEST PRACTICES ON INCLUSIVE ECONOMIC GROWTH (3) ADVANCING INNOVATIONS IN INCLUSIVE ECONOMIC DEVELOPMENT - NGIN WORKED ON SPECIFIC THEMATIC PRIORITY AREAS AND PLACE-BASED PROJECTS WHICH ADVANCED INNOVATIVE APPROACHES TO MORE INCLUSIVE ECONOMIC DEVELOPMENT, INCLUDING NEW WORK ON THE NEEDS OF SMALL AND MIDSIZE CITIES AND HOW TO SUPPORT A MORE EQUITABLE ECONOMIC RECOVERY WHICH UPLIFTS RACIAL EQUITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Yasmina Mccarty CEO And President | Officer | 40 | $200,000 |
Lyneir Richardson Co Chair | Trustee | 2 | $0 |
Tim Ferguson Director | Trustee | 2 | $0 |
Maurice Jones Director | Trustee | 2 | $0 |
Marlene Seltzer Director | Trustee | 2 | $0 |
Brad Whitehead Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $79,779 |
| All other contributions, gifts, grants, and similar amounts not included above | $740,638 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $838,917 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $838,917 |
| 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. | $200,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $284,859 |
| Pension plan accruals and contributions | $12,000 |
| Other employee benefits | $30,601 |
| Payroll taxes | $31,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,275 |
| Fees for services: Accounting | $31,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $187,604 |
| Advertising and promotion | $31,467 |
| Office expenses | $13,571 |
| Information technology | $720 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14 |
| 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 | $0 |
| Insurance | $4,067 |
| All other expenses | $166 |
| Total functional expenses | $828,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $607,420 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,220 |
| 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 | $0 |
| 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 | $626,640 |
| Accounts payable and accrued expenses | $215 |
| Grants payable | $0 |
| 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 | $215 |
| Net assets without donor restrictions | $191,321 |
| Net assets with donor restrictions | $435,104 |
| 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 | $626,640 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that New Growth Innovation Network has recieved totaling $390,765.
| Awarding Organization | Amount |
|---|---|
New Venture Fund Washington, DC PURPOSE: TECHNOLOGY AND INNOVATION | $149,863 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78752 RESEARCHING BARRIERS TO CAPITAL INVESTMENT F | $136,413 |
Prudential Foundation Inc Newark, NJ PURPOSE: EQUITABLE ECONOMIC RECOVERY FROM COVID-19 | $75,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78752 RESEARCHING BARRIERS TO CAPITAL INVESTMENT F | $15,157 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78082 COMBINING COMMUNITY AND ECONOMIC DEVELOPMENT | $14,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Tri-County Community Council Inc Bonifay, FL | $6,451,084 | $10,551,381 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Economic Opportunities Council Of Indian River County Inc Vero Beach, FL | $1,869,765 | $6,434,584 |
Grand Avenue Economic Community Development Corp Orlando, FL | $15,324,319 | $6,865,821 |