New Economy Coalition Inc
- Assets
- $1.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Cambridge, MA
- Founding
- 08/1981
- Data as of
- 12/2021
- EIN
- 03-0278626
Organization Overview
New Economy Coalition Inc is located in Cambridge, 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 12/2021, New Economy Coalition Inc employed 12 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 12/2021, New Economy Coalition Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 5.2% per year over the past 7 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 45 individual grants totaling $385,525. 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
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
COALITION BUILDING - THE NEW ECONOMY COALITION IS A NETWORK OF ORGANIZATIONS BUILDING A FUTURE WHERE PEOPLE, COMMUNITY AND ECOSYSTEMS THRIVE.BY AMPLIFYING THE STORIES, TOOLS, AND ANALYSIS OF OUR MEMBERS, NEC WORKS TO ADVANCE A COHERENT AND COMPELLING NARRATIVE ABOUT WHAT IT MEANS TO BUILD THE NEXT SYSTEM--IN PART, BY HIGHLIGHTING THE WORK OF THOSE ALREADY DOING SO AT SCALES BOTH LOCAL AND GLOBAL.THE WORD "COALITION" CAN BE USED IN A NUMBER OF DIFFERENT WAYS. FOR NEC, IT MEANS CREATING A NETWORK WHERE NEW ECONOMY ACTIVISTS CAN FIND ONE ANOTHER, LEARN FROM EACH OTHER, AND BUILD THE TRUST NECESSARY TO TAKE BOLD, LARGE-SCALE ACTION TOGETHER.IN ADDITION TO PERIODIC ONLINE AND IN-PERSON GATHERINGS LIKE COMMONBOUND AND NEW ECONOMY WEEK, NEC ALSO WORKS TO HOST ONGOING CONVERSATIONS ON THE ISSUES THAT MATTER AND TO CREATE INFRASTRUCTURE THAT ENABLES DEEPER COLLABORATION.COALITION MEMBERS, DRAWN FROM ACROSS THE US AND CANADA, ARE INVITED TO COME TOGETHER EACH YEAR AT OUR ANNUAL MEETING, TYPICALLY IN THE SUMMER, TO MEET ONE ANOTHER FACE-TO-FACE, HELP SHAPE NEC PROGRAMMING FOR THE COMING YEAR, AND ELECT A PORTION OF NEC'S BOARD OF DIRECTORS.AS A COALITION OF AND BY ITS MEMBERS, NEC IS COMMITTED TO FINDING NEW AND CREATIVE WAYS TO HELP DRIVE THE WORK OF OUR MEMBERS FORWARD. COALITION MEMBERSHIP COMES WITH AN INVITATION TO PROPOSE AND CONVENE NEW VEHICLES FOR EVER DEEPER AND MORE FRUITFUL ENGAGEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elias Feghali Comm Dir & Network Organizer | Officer | 36 | $68,584 |
Julia Ho Secretary | OfficerTrustee | 1 | $0 |
Leslie Lindo President | OfficerTrustee | 1 | $0 |
Kate Poole Treasurer | OfficerTrustee | 1 | $0 |
Michelle Mascarenhas-Swan Director | Trustee | 1 | $0 |
Harper Bishop Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $128,577 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,869,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,998,012 |
| Total Program Service Revenue | $2,792 |
| Investment income | $452 |
| 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 | $2,011,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $323,525 |
| Grants and other assistance to domestic individuals. | $18,470 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,737 |
| Compensation of current officers, directors, key employees. | $12,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $475,059 |
| Pension plan accruals and contributions | $4,693 |
| Other employee benefits | $74,352 |
| Payroll taxes | $54,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,564 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,673 |
| Advertising and promotion | $6,072 |
| Office expenses | $18,285 |
| Information technology | $24,249 |
| Royalties | $0 |
| Occupancy | $16,358 |
| Travel | $270 |
| 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 | $12,801 |
| Insurance | $6,852 |
| All other expenses | $6,277 |
| Total functional expenses | $1,228,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $935,700 |
| Savings and temporary cash investments | $555,862 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $1,601 |
| 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 | $20,037 |
| Net Land, buildings, and equipment | $726 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $16,321 |
| Other assets | $0 |
| Total assets | $1,630,247 |
| Accounts payable and accrued expenses | $47,771 |
| Grants payable | $149,995 |
| 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 | $197,766 |
| Net assets without donor restrictions | $1,113,677 |
| Net assets with donor restrictions | $318,804 |
| 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 | $1,630,247 |
Grants Awarded
Over the last fiscal year, New Economy Coalition Inc has awarded $313,525 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: SUPPORTING GRANT | $50,000 |
Columbia, MO PURPOSE: SUPPORTING GRANT | $25,500 |
Montevideo, MN PURPOSE: SUPPORTING GRANT | $23,500 |
Berea, KY PURPOSE: SUPPORTING GRANT | $17,000 |
London, KY PURPOSE: SUPPORTING GRANT | $17,000 |
Billings, MT PURPOSE: SUPPORTING GRANT | $17,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that New Economy Coalition Inc has recieved totaling $1,361,613.
| Awarding Organization | Amount |
|---|---|
Novo Foundation Kingston, NY PURPOSE: GENERAL SUPPORT | $500,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $350,000 |
Windward Fund Washington, DC PURPOSE: ENVIRONMENTAL PROGRAMS | $200,000 |
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $100,000 |
Women Donors Network San Francisco, CA PURPOSE: SUPPORT FOR BLACK SOLIDARITY ECONOMY FUND | $100,000 |
Jessie Smith Noyes Foundation Inc New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Center For An Agricultural Economy Hardwick, VT | $3,140,662 | $3,125,886 |
Environmental Grantmakers Association New York, NY | $3,826,328 | $3,211,858 |
Vermont Youth Conservation Corps Inc Richmond, VT | $4,132,419 | $2,360,052 |
The Stringer Foundation New York, NY | $22,298,258 | $2,265,089 |
North Shore Innoventures Inc Beverly, MA | $2,743,433 | $2,186,020 |
Greater Bridgeport Communityenterprises Inc - Gbce Bridgeport, CT | $1,377,819 | $1,204,544 |
Museum At Eldridge Street New York, NY | $3,528,526 | $1,744,110 |
New Economy Coalition Inc Cambridge, MA | $1,630,247 | $2,011,256 |
Alliance To Protect Nantucket Sound Inc Hyannis, MA | $1,586,755 | $1,119,261 |
Energy For Common Good Inc Concord, MA | $153,854 | $1,003,500 |
Blue Mountain Center Blue Mountain Lake, NY | $22,198,352 | $2,163,643 |
North American Passive House Network Inc New York, NY | $37,915 | $662,900 |