The New Press Inc
- Assets
- $10.5m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 40
- Location
- New York, NY
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 13-3584516
Organization Overview
The New Press Inc is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, New Press Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Press 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 Press Inc generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $5.1m during the year ending 12/2021. While expenses have increased by 2.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PUBLISHING IN THE PUBLIC INTEREST BOOKS OF CULTURAL, HISTORICAL, AND/OR EDUCATIONAL VALUE THAT ARE LIKELY TO BE DEEMED INSUFFICIENTLY PROFITABLE AND HENCE OVERLOOKED BY COMMERCIAL PUBLISHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW PRESS POSTED STRONG RESULTS IN 2021, OUTPERFORMING BOTH BUDGET AND FORECAST. THIS WAS ACHIEVED DESPITE SIGNIFICANT CHALLENGES WITH BOTH FRONTLIST PERFORMANCE AND SUPPLY CHAIN ISSUES. ALTHOUGH THERE WAS NOT A REPEAT OF THE STRATOSPHERIC SALES REVENUES WE ENJOYED IN 2020, OUR NUMBERS WERE BOOSTED BY HIGH SELL-THOUGH, AN ENDURING BACKLIST WITH AWARD-WINNING TITLES THAT CONTINUE TO RESONATE WITH READERS, A HANDFUL OF STRONG FRONTLIST TITLES (EXCEPT FOR PALESTINE, KAEPERNICK EFFECT, ATLAS OF DISAPPEARING PLACES), AND UNPRECEDENTED CONTRIBUTED REVENUES. BOTH EARNED AND CONTRIBUTED REVENUES SOARED ABOVE FORECAST. THE NEW PRESS CONTINUED TO IMPROVE ITS LIQUIDITY WITH CASH ON HAND OVER $4.M AT THE END OF 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Wachtell Executive Director | OfficerTrustee | 35 | $229,727 |
Ellen Adler Publisher | OfficerTrustee | 35 | $227,298 |
Carline Yup Director Of Finance / CFO | Officer | 35 | $180,348 |
James Phelan Director Of Development | 35 | $135,676 | |
Marc Favreau Editorial Director | 35 | $124,339 | |
Brian Ulicky Director Of Marketing & Publicity | 35 | $115,756 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maple Press Printing, Design, Mailing, Bindery | 12/30/21 | $1,205,634 |
Worzalla Printing, Design, Mailing, Bindery | 12/30/21 | $155,421 |
Ingram Content Group Distributor | 12/30/21 | $1,007,323 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $218,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,907,422 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,125,422 |
| Total Program Service Revenue | $416,168 |
| Investment income | $883 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $84,106 |
| 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 | $2,940,858 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,017,448 |
| 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. | $756,675 |
| Compensation of current officers, directors, key employees. | $354,367 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,584,778 |
| Pension plan accruals and contributions | $49,831 |
| Other employee benefits | $284,473 |
| Payroll taxes | $209,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,905 |
| Fees for services: Accounting | $38,586 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $341,247 |
| Advertising and promotion | $372,142 |
| Office expenses | $57,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $319,613 |
| Travel | $24,106 |
| 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 | $19,925 |
| Insurance | $44,404 |
| All other expenses | $16,343 |
| Total functional expenses | $5,091,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,669,499 |
| Savings and temporary cash investments | $2,858,433 |
| Pledges and grants receivable | $1,347,000 |
| Accounts receivable, net | $1,703,607 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,390,794 |
| Prepaid expenses and deferred charges | $4,340 |
| Net Land, buildings, and equipment | $77,649 |
| Investments—publicly traded securities | $70,504 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,354,055 |
| Total assets | $10,475,881 |
| Accounts payable and accrued expenses | $888,685 |
| 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 | $428,692 |
| Other liabilities | $899,499 |
| Total liabilities | $2,216,876 |
| Net assets without donor restrictions | $6,178,154 |
| Net assets with donor restrictions | $2,080,851 |
| 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 | $10,475,881 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that The New Press Inc has recieved totaling $1,869,464.
| Awarding Organization | Amount |
|---|---|
The Jpb Foundation New York, NY PURPOSE: PUBLISHING FOR ENVIRONMENTAL JUSTICE | $600,000 |
The Jpb Foundation New York, NY PURPOSE: PUBLISHING FOR ENVIRONMENTAL JUSTICE | $300,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Arts & Culture | $200,000 |
Ford Foundation New York, NY PURPOSE: GENERAL SUPPORT AND PROJECT SUPPORT FOR THE DEVELOPMENT OF BOOKS ON IMMIGRATION REFORM | $175,000 |
The California Wellness Foundation Los Angeles, CA PURPOSE: FOR CORE OPERATING SUPPORT FOR A RANGE OF ACTIVITIES IN CALIFORNIA SUPPORTING AUTHORS WHO WRITE BOOKS RELATED TO YOUTH JUSTICE AND VIOLENCE PREVENTION. | $150,000 |
Foundation To Promote Open Society New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Technology Review Inc Cambridge, MA | $6,822,000 | $19,424,000 |
Project Veritas Mamaroneck, NY | $11,883,753 | $22,034,786 |
Journal Of Bone And Joint Surgery Inc Needham, MA | $35,717,891 | $10,120,492 |
Machon Mashe Rockeach Inc Brooklyn, NY | $2,473,215 | $8,597,419 |
Harpers Magazine Foundation New York, NY | $1,648,663 | $7,386,851 |
Retro Report Inc Mystic, CT | $1,128,827 | $6,590,447 |
The New Press Inc New York, NY | $10,475,881 | $7,017,448 |
National Braille Press Inc Boston, MA | $10,542,006 | $5,176,920 |
Medical Letter Inc New Rochelle, NY | $4,157,236 | $5,090,906 |
University Of Pennsylvania Press Incorporated Philadelphia, PA | $1,805,477 | $4,286,513 |
Harvard Magazine Incorporated Cambridge, MA | $2,271,377 | $3,610,627 |
American Booksellers Assoc Inc White Plains, NY | $43,213,298 | $1,963,902 |