2015-03-11T13:51:09-07:00 2014-06-30 Koch Group & Co LLP 333 Seventh Avenue Floor 8 New York NY 100015118 990 2013-07-01 133842270 NEW ECONOMY PROJECT NEWE 2126805100 121 West 27th St NEW YORK NY 10001 SARAH I LUDWIG Co-Director 2015-03-11 true Stuart Koch P01231447 2126310700 2013 2016-02-25 16:41:14Z X SARAH I LUDWIG 1253454 false false X WWW.NEweconomynyc.org X 1995 NY TO BUILD A NEW ECONOMY THAT WORKS FOR ALL, BASED ON PRINCIPLES OF COOPERATION, DEMOCRACY, EQUITY, RACIAL JUSTICE, AND ECOLOGICAL SUSTAINABILITY. 7 7 15 4 0 2556822 998257 126000 209865 36106 45332 0 2718928 1253454 331450 225000 0 1038336 999811 0 78110 299491 263494 1669277 1488305 1049651 -234851 5467243 5101799 45050 60256 5422193 5041543 New Economy Project works with community groups (1) to eliminate economic practices that harm communities and perpetuate inequality and poverty; and (2) to build strong local economies, by fostering democratically-structured, community-controlled initiatives such as worker and financial cooperatives, community land trusts, and mutual housing. false false 1199566 225000 209865 TO PROVIDE ORGANIZING, STRATEGIC AND LEGAL SUPPORT ON A BROAD RANGE OF ECONOMIC JUSTICE AND COMMUNITY-BASED ECONOMIC DEVELOPMENT/NEW ECONOMY MATTERS. 1199566 true true false true false false false false false false true false false true false true true false false false false false false false false false false true false false false false false false false false false false false false true false false false false false false false false false false true 1 0 true 15 true false false false false false false false false 0 false false false false false false false false false false X 7 7 false false false false false false false true true false false true true true true true true true true false X X New Economy Project 2126805100 121 West 27th St Suite 804 ny NY 10001 X CATHERINE LIFESO President 2.00 0.00 X X 0 0 0 RAUN J RASMUSSEN Secretary 1.00 0.00 X X 0 0 0 CATHERINE BARNETT Treasurer 1.00 0.00 X X 0 0 0 GREGORY LOBO JOST BOARD MEMBER 0.50 0.00 X 0 0 0 STEPHanie LAWES BOARD MEMBER 0.50 0.00 X 0 0 0 ODA FRIEDHEIM BOARD MEMBER 0.50 0.00 X 0 0 0 robert martin BOARD MEMBER 0.50 0.00 X 0 0 0 Deyanira Del Rio Co-Director 40.00 0.00 X 90341 0 7016 SARAH I LUDWIG Co-director 40.00 0.00 X 125550 0 8569 JOSHUA ZINNER Co-director 40.00 0.00 X 108550 0 3446 324441 19031 2 false false false 0 133500 864757 15698 998257 PROGRAM FEE REVENUE 209865 209865 209865 45332 45332 0 0 0 0 0 0 0 0 1253454 209865 45332 225000 225000 0 0 0 318033 184080 82198 51755 0 529254 478224 43253 7777 0 152524 119224 22583 10717 0 0 15698 15698 11830 11830 0 0 0 14042 10075 3967 0 4320 3456 648 216 0 0 129526 103621 19429 6476 10363 9327 1036 0 0 233 233 0 2386 2386 9288 5573 3715 LOAN LOSS 23780 23780 STAFF DEVELOPMENT 11577 10419 1158 shareholder advanc 3esxpense 8563 8563 TELEPHONE 6171 5245 617 309 15717 12746 2111 860 1488305 1199566 210629 78110 1790669 1549685 2122265 2115546 1013456 787014 36329 89356 0 0 0 0 13176 13228 70688 65741 7333 4947 0 0 34150 42713 0 449865 499310 5467243 5101799 10900 17543 34150 42713 45050 60256 X 3035081 2617124 2387112 2424419 5422193 5041543 5467243 5101799 X -234851 -150000 4201 X false true X true false X 1454717 1459374 1837254 2556822 998257 8306424 0 0 1454717 1459374 1837254 2556822 998257 8306424 0 8306424 35722 37993 32958 36106 45332 188111 0 5345 7500 7500 20345 8514880 547077 0.97550 0.97340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 10772 10772 10772 2154 539 8618 false 1220 944 1652 2154 5970 8955 6099 4718 8261 10772 29850 305 236 413 539 1493 2240 70688 65741 4947 4947 LOAN SECURITY COLLATERAL 379136 nominee deposit receivable 100000 SECURITY DEPOSITS 20174 499310 X 1253454 1253454 1253454 1484104 1484104 4201 4201 1488305 Part X : FIN48 Footnote NEW ECONOMY PROJECT IS EXEMPT FROM TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. THE COMPANY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL, STATE OR LOCAL AUTHORITIES FOR YEARS BEFORE 2011, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S LOAN LOSS RESERVES $4201 true Ca Reinvestment Coalition 474 Valencia Street suite 203 San Francisco CA 94103 943153815 501(C)3 75000 0 Financial justice Reinvestment Partners 110 East Geer Street Durham NC 27702 311587628 501(C)3 75000 0 Financial justice Woodstock Institute 29 E Madison Suite 1710 chicago IL 60602 362907408 501(C)3 75000 0 Financial justice 3 0 Grantmaker's Description of How Grants are Used ALL SUBGRANT RECIPIENTS SUBMITTED EXPENSE REPORTS TO SUPPORT DISBURSEMENTS PERTAINING TO THE GRANT AGREEMENTS. Raun Rasmussen BD.MEM/OFFICER consulting for aff orgs false Deyanira Del Rio Co-director member of the board false SARAH I LUDWIG co-director member of the board false Schedule L, Part V Supplemental Information Legal Services-NYC paid $10,000 to New Economy Project for consulting services that New Economic Project provided to affiliated organizations. Raun Rasmussen is executive director of Legal Services-NYC.Consumer Federation of America (CFA) made a grant of $6,000 to New Economy Project. New Economy Projects co-director Sarah Ludwig serves on CFAs Board of Directors.New Economy Project has a $100,000 nominee deposit with the National Federation of Community Development Credit Unions (Federation). New Economy Projects co-director Deyanira Del Rio serves on the Federations Board of Directors.New Economy Project operates revolving loan funds and maintains several accounts with the Lower East Side Peoples Federal Credit Union (LESPFCU). New Economy Projects co-director Deyanira Del Rio serves on LESPFCUs Board of Directors. Form 990, Part VI, Line 11b: Form 990 Review Process THE NEW ECONOMY PROJECT BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE 990 PRIOR TO ITS SUBMISSION. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ALL NEW BOARD MEMBERS AND EMPLOYEES RECEIVE 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 Three 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 THREE OTHER ORGANIZATIONS OF COMPARABLE SIZE, MISSION AND SCOPE. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available NEW ECONOMY PROJECT MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, NEW ECONOMY PROJECT 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 RESERVE FOR LOAN LOSSES = $4201 FORM 990 PART 1 LINE 1 New Economy Project works with community groups in New York City to promote economic justice, and to build a new economy based on principles of cooperation, democracy, equity, racial justice, and ecological sustainability. New Economy Project provides strategic support to community groups, conducts extensive community education and outreach, operates a financial justice hotline and a loan fund for DREAMers, and coordinates several effective city- and state-wide coalitions that bring together diverse organizations to promote economic justice and a new economy.