New Food Economy Inc
- Assets
- $5.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 18
- Location
- New York, NY
- Founding
- 08/2019
- Data as of
- 09/2021
- EIN
- 84-1930625
Organization Overview
New Food Economy Inc, operating under the name The Counter, is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (K01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2021, Counter employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Counter 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 09/2021, Counter generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (59.8%) each year. All expenses for the organization totaled $2.3m during the year ending 09/2021. 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
THE NEW FOOD ECONOMY INC. ("THE COUNTER") IS A NON-PROFIT, INDEPENDENT, NONPARTISAN NEWSROOM. THE COUNTER PUBLISHES UNBIASED REPORTING ON THE FORCES SHAPING HOW AND WHAT AMERICA EATS, GOING BEYOND THE GUSTATORY, DELVING INTO THE MONEY, POWER, AND POLITICS BEHIND OUR PLATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW FOOD ECONOMY INC. ("THE COUNTER") IS A NON-PROFIT, INDEPENDENT, NONPARTISAN NEWSROOM. THE COUNTER PUBLISHES UNBIASED REPORTING ON THE FORCES SHAPING HOW AND WHAT AMERICA EATS, GOING BEYOND THE GUSTATORY, DELVING INTO THE MONEY, POWER, AND POLITICS BEHIND OUR PLATES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Kittay Exec Dir / Publisher | OfficerTrustee | 40 | $225,019 |
Katherine Cox Editor-In-Chief | 40 | $124,202 | |
Nathaniel Pazik Chief Of Operations & Development | 40 | $102,055 | |
S Donald Sussman-Until 92721 President | OfficerTrustee | 1 | $0 |
Doug Phillips Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Johnson Stern Secretary, Co-Chair Of Development | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $400,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $657,448 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,058,148 |
| Total Program Service Revenue | $0 |
| Investment income | $2,653 |
| 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 | $1,060,801 |
| 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. | $726,441 |
| Compensation of current officers, directors, key employees. | $193,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $917,924 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,905 |
| Payroll taxes | $130,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,272 |
| Fees for services: Accounting | $20,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,530 |
| Advertising and promotion | $0 |
| Office expenses | $77,178 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,959 |
| Travel | $6,121 |
| 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 | $23,800 |
| Insurance | $85,066 |
| All other expenses | $0 |
| Total functional expenses | $2,330,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,202 |
| Savings and temporary cash investments | $783,901 |
| Pledges and grants receivable | $4,140,325 |
| Accounts receivable, net | $0 |
| 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 | $65,551 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,918 |
| Total assets | $5,033,897 |
| Accounts payable and accrued expenses | $23,408 |
| 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 | $23,408 |
| Net assets without donor restrictions | $2,510,489 |
| Net assets with donor restrictions | $2,500,000 |
| 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 | $5,033,897 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that New Food Economy Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $15,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Arts & Culture | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Food Economy Inc New York, NY | $5,033,897 | $1,060,801 |
Pennsylvania Dairymens Association Inc Palmyra, PA | $1,660,561 | $664,530 |
Hunters Sharing The Harvest Inc Greenville, PA | $332,725 | $524,438 |
Whitehall-Coplay Hunger Initiative Whitehall, PA | $193,976 | $69,036 |
Just Harvest A Center For Action Against Hunger Pittsburgh, PA | $47,312 | $55,098 |
Western New York Soil Health Alliance Inc Albion, NY | $10,209 | $0 |
Vermont Grape And Wine Council South Burlington, VT | $18,335 | $0 |
One More Meal Jamison, PA | $263 | $0 |
Noel Foundation Inc Carlstadt, NJ | $0 | $1 |
Ron And Ellen Schmid Foundation Watertown, CT | $621,486 | $7,587 |