2019-03-12T18:05:44-07:00 2018-06-30 130485070 BERDON LLP 360 MADISON AVE NEW YORK NY 10017 990 2017-07-01 133842270 NEW ECONOMY PROJECT INC NEWE 2126805100 121 West 27th St NEW YORK NY 10001 SARAH I LUDWIG Co-Director 2019-03-12 true Marco Svagna P00217291 2128320400 2017 2019-02-21 02:37:17Z SARAH I LUDWIG 530 1ST ST Brooklyn NY 11215 1315459 false false X WWW.NEweconomynyc.org X 1995 NY NEW ECONOMY PROJECT'S MISSION IS TO BUILD AN ECONOMY THAT WORKS FOR ALL, BASED ON COOPERATION, NEIGHBORHOOD EQUITY, RACIAL AND SOCIAL JUSTICE, AND ECOLOGICAL SUSTAINABILITY. 7 6 12 6 0 1329427 1054660 240696 192629 45448 66415 22859 1755 1638430 1315459 20000 10000 0 1018939 1184821 0 99793 353933 505285 1392872 1700106 245558 -384647 7321392 6912838 93518 67363 7227874 6845475 NEW ECONOMY PROJECT'S MISSION IS TO BUILD AN ECONOMY THAT WORKS FOR ALL, BASED ON COOPERATION, NEIGHBORHOOD EQUITY, RACIAL AND SOCIAL JUSTICE, AND ECOLOGICAL SUSTAINABILITY. THE ORGANIZATION WORKS WITH COMMUNITY GROUPS TO FIGHT SYSTEMIC DISCRIMINATION AND TO BUILD INSTITUTIONS, POLICIES, AND PUBLIC SUPPORT NEEDED FOR A JUST ECONOMY. NEW ECONOMY PROJECT BELIEVES THIS DUAL STRATEGY IS NECESSARY TO ACHIEVE LASTING TRANSFORMATIONAL CHANGE. false false 1409995 10000 192629 TO PROVIDE ORGANIZING, STRATEGIC AND LEGAL SUPPORT ON A BROAD RANGE OF ECONOMIC JUSTICE AND COMMUNITY-BASED ECONOMIC DEVELOPMENT MATTERS. 1409995 true true true true false false false false false false true false true false false true true true false false false false false false false false false true false false false false false false false false false false true false true true false false false true false false false false true 2 0 true 12 true false false false false false false false false 0 false false false false false false false false false false X 7 6 false false false false false false false true true false false true true true true true true true true false NY X X New Economy Project 2126805100 121 West 27th St Suite 804 ny NY 10001 BRENDAN MARTIN BOARD MEMBER 0.50 0.00 X 0 0 0 RAUN J RASMUSSEN Secretary 1.00 0.00 X X 0 0 0 CATHERINE BARNETT Vice President 1.00 0.00 X X 0 0 0 GREGORY JOST President 2.00 0.00 X X 0 0 0 STEPHANIE LAWES BOARD MEMBER 0.50 0.00 X 0 0 0 Azadeh khalili Board Member 0.50 0.00 X 0 0 0 JONATHAN SPRINGER Treasurer 1.00 0.00 X X 0 0 0 DEYANIRA DEL RIO co-director 40.00 0.00 X 119162 0 4208 SARAH I LUDWIG Founder&co-dir 40.00 0.00 X 136314 0 9142 255476 13350 2 false false false 0 31000 1023660 60489 1054660 PROGRAM FEE REVENUE 812900 192629 192629 192629 66415 66415 0 0 0 0 0 0 0 OTHER INCOME 900099 1755 1755 1755 1315459 194384 66415 10000 10000 0 0 0 352409 289856 36123 26430 0 641924 526236 66795 48893 15325 12605 1571 1149 104518 85972 10707 7839 70645 58105 7242 5298 0 1084 1084 15000 15000 0 0 0 0 0 9857 8378 986 493 6762 5410 338 1014 0 149359 119488 22403 7468 2063 1857 103 103 0 4128 3922 206 1052 1052 0 22368 22368 4011 2607 1404 NYC DREAMER PROGRAM-DACA 191203 191203 IN-KIND-LEGAL SERVICES 60489 60489 Consultant services 12505 10629 1876 LOAN LOSS 5239 5239 20165 16947 2112 1106 1700106 1409995 190318 99793 2767296 2596230 2369475 2278510 754750 600250 53500 0 0 72910 84781 0 0 178911 146461 54818 32450 55686 39714 0 1205418 1179497 0 41039 47906 7321392 6912838 37832 27649 55686 39714 93518 67363 X 4728191 4582853 2499683 2262622 7227874 6845475 7321392 6912838 X -384647 2248 X false true X true false X 998257 1088080 642651 1329427 994171 5052586 209865 90824 2503091 240696 253118 3297594 0 0 0 1208122 1178904 3145742 1570123 1247289 8350180 0 708330 839701 302040 671696 815415 3337182 708330 839701 302040 671696 815415 3337182 5012998 45332 51768 28430 45448 66415 237393 0 45332 51768 28430 45448 66415 237393 0 41852 22859 1755 66466 1253454 1230672 3216024 1638430 1315459 8654039 0.57930 0.52310 0.02740 0.02060 X false false 9100 9100 9100 1820 455 7280 false 1665 1031 165 643 3504 5256 8323 5154 8175 8457 30109 416 258 409 70 1153 1730 Part II-B, Line 1i - Other Activities Description Testifying about legislation at public hearings and filing writTEN comments on, AND educating city, state, and federal elected officials and policy-makers about, policy matters and relevant legislation. 107323 75126 32197 71588 71335 253 32450 1179497 X 1315459 1315459 1315459 1697858 1697858 2248 2248 1700106 Part X : FIN48 Footnote NEW ECONOMY PROJECT INC. IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.U.S. GAAP REQUIRE EVALUATION OF THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE TAX POSITIONS, AND THEN RECOGNIZING THE TAX BENEFIT THAT IS MORE LIKELY THAN NOT TO BE REALIZABLE. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE IN THE CURRENT REPORTING PERIOD. MANAGEMENT BELIEVES THE EFFECTS OF SUCH POSITIONS WOULD BE IMMATERIAL TO THE OVERALL CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY FEDERAL, STATE, OR LOCAL TAX AUTHORITIES IN THE UNITED STATES FOR YEARS BEFORE JUNE 30, 2015. NEW ECONOMY LOAN FUND LLC IS A SINGLE-MEMBER LIMITED LIABILITY COMPANY OWNED BY NEW ECONOMY PROJECT, INC. THEREFORE, ALL THE ACTIVITIES OF THE COMPANY ARE REPORTED IN NEW ECONOMY PROJECT, INC.'S INFORMATION RETURNS. Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S ATTORNEY FEES RECONCILIATION $0 Bad debt expense $2248 true NYC COMMUNITY LAND INITIATIVE 121 WEST 27TH STREET 804 NEW YORK NY 10001 472770204 Pending Application 10000 0 NYC COMMUNITY LAND TRUST INITIATIVE 1 0 Grantmaker's Description of How Grants are Used NEW ECONOMY PROJECT RECEIVED GRANTS AS FISCAL AGENT FOR NYC COMMUNITY LAND INITIATIVE (NYCCLI), AN ALLiaNCE THAT PROMOTES COMMUNITY LAND TRUSTS AND PERMANENTLY AFFORDABLE HOUSING. THE WORK OF NYCCLI IS CONSISTENT WITH NEW ECONOMY PROJECT'S MISSION OF PROMOTING COMMUNITY ECONOMIC DEVELOPMENT IN NEW YORK CITY. Deyanira Del Rio 1 Co-director 28500 SEE PART V false Brendan Martin4 Board member 350000 SEE PART V false Schedule L, Part V Supplemental Information (1)New Economy Project maintains several financial accounts and operates revolving loan funds in partnership with the Lower East Side People's Federal Credit Union (LESPFCU). New Economy Project's Co-Director Deyanira Del Rio serves on LESPFCU's board of directors.NYC Land Initiative paid New Economy Project $28,500 fees for services. Deyanira Del Rio serves on the board of NYC Land Initiative(3)New Economy Loan Fund LLC, A SINGLE MEMBER LLC OWNED BY THE ORGANIZATION, PROVIDED funds to The Working World, which in turn provided loans TO worker cooperatives in NYC. Board Member Brendan Martin is executive director of The Working World. X legal services 1 17763 FMV X legal services 1 6837 FMV X legal services 1 35889 FMV false false false Form 990, Part VI, Line 11b: Form 990 Review Process THE NEW ECONOMY PROJECT INC. BOARD OF DIRECTORS REVIEWS AND APPROVES THE FED FORM 990 PRIOR TO ITS SUBMISSION FOR FILING TOGETHER WITH ITS AUDITED FINANCIAL STATEMENTS AND ITS NYSOAG CHARITIES BUREAU CHAR 500 ANNUAL REPORT. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ALL NEW BOARD MEMBERS AND EMPLOYEES RECEIVE A COPY OF THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY, WHEREUPON THEY SIGN A STATEMENT THAT THEY HAVE RECEIVED AND UNDERSTOOD THE POLICY. OFFICERS, DIRECTORS, AND KEY EMPLOYEES OF THE ORGANIZATION ARE REQUIRED TO DESCRIBE ON AN ANNUAL BASIS, OR AS THEY ARISE, ANY POTENTIAL AND ACTUAL CONFLICTS OF INTEREST. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management AFTER THE FISCAL YEAR END, THE BOARD OF DIRECTORS CONDUCTs AN INDEPENDENT REVIEW OF the ORGANIZATION'S Co-DIRECTORS' COMPENSATION, ON AN ANNUAL BASIS. THE BOARD APPROVES EXECUTIVE COMPENSATION AT THE ORGANIZATION IF IT FINDS THE COMPENSATION IS REASONABLE. TO DETERMINE THE REASONABLENESS, THE BOARD CONSIDERS SUCH FACTORS AS COMPENSATION OF EXECUTIVES WITH COMPARABLE QUALIFICATIONS AT NO FEWER THAN two OTHER ORGANIZATIONS OF COMPARABLE SIZE, MISSION AND SCOPE. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available NEW ECONOMY PROJECT INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, NEW ECONOMY PROJECT INC. TIMELY FILES ITS NYS CHAR 500 ANNUAL REPORT WITH THE NEW YORK STATE OFFICE OF ATTORNEY GENERAL. THE NYSOAG POSTS THE CHAR 500 TOGETHER WITH THE FEDERAL TAX FORM 990 AND THE AUDITED FINANCIAL STATEMENTS ON ITS CHARITIES BUREAU WEBSITE. Other Changes In Net Assets Or Fund Balances - Other Increases ADJUSTMENT TO LOAN LOSS RECOVERY - PER BOOKS = $2248 NEW ECONOMY LOAN FUND LLC 121 WEST 27TH STREET NEW YORK NY 10001 Community development loan fund NY 10435 859497 NEW ECONOMY PROJECT false false false false false false false false false false false false false false false false false false false