The Institute For New Economic Thinking Inc

Organization Overview

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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pryor Cashman
Legal Services
$213,525
Lynn Paramore
Editing Services
$133,200
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, The Institute For New Economic Thinking Inc has awarded $294,170 in support to 6 organizations.

Grant RecipientAmount

TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK

Org PageRecipient Profile

New York, NY

PURPOSE: STIGLITZ POST-DOCTORAL FELLOWSHIP

$93,843

THE ACADEMIC-INDUSTRY RESEARCH NETWORK

Org PageRecipient Profile

Cambridge, MA

PURPOSE: MASS-PRODUCING COVID-19 VACCINES: CAPACITY, SCALE, AND CONTROL

$66,000

UNIVERSITY OF UTAH

Org PageRecipient Profile

Salt Lake City, UT

PURPOSE: SOCIAL AND SECTORAL INFLUENCES IN THE EVOLUTION OF AMERICAN ANTITRUST LAW

$49,500

THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA

Org PageRecipient Profile

Charlottesville, VA

PURPOSE: STEERING PROGRESS IN ARTIFICIAL INTELLIGENCE

$46,477

RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK - CUNY

Org PageRecipient Profile

New York, NY

PURPOSE: MONEY AND THINGS: HOW FINANCE SHAPES THE WORLD ITS MEANT TO REFLECT

$28,350

CENTER FOR ECONOMIC AND POLICY RESEARCH

Org PageRecipient Profile

Washington, DC

PURPOSE: UNDERSTATED UNEMPLOYMENT

$10,000
View Grant Profile

Grants Recieved

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 OrganizationAmount
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
View Grant Recipient Profile

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