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Nonprofiteer
← CENTER FOR A NEW ECONOMY INC

Form 990 for tax year 2022

Filed by CENTER FOR A NEW ECONOMY INC.

Totals

Total revenue
$1,871,721
Total expenses
$2,262,227
Contributions and grants received
$1,804,409
Grants paid
$391,059
Program service revenue
$54,202
Investment income
$12,957
Other revenue
$153
Total assets, end of year
$2,485,015
Total liabilities, end of year
$779,760
Net assets or fund balances, end of year
$1,705,255
Program services expenses (Part IX)
$1,759,591
Management and general expenses
$347,393
Fundraising expenses
$155,243
Program service expenses (Part III)
$1,759,591

Program services were 77.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,804,409

  • 1g · Noncash contributions included above

    $100,399

  • 2a · Program service revenue: MANAGEMENT FEE

    total $54,202 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $12,957 · unrelated business $0 · excluded $12,957

  • 11a · Other revenue: OTHER INCOME

    total $153 · related or exempt $153 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $153

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $391,059 · program services $391,059

  • 5 · Compensation of officers, directors and key employees

    total $626,759 · program services $483,855 · management and general $77,694 · fundraising $65,210

  • 7 · Other salaries and wages

    total $538,218 · program services $415,502 · management and general $66,719 · fundraising $55,997

  • 9 · Other employee benefits

    total $32,327 · program services $24,957 · management and general $4,007 · fundraising $3,363

  • 10 · Payroll taxes

    total $81,879 · program services $63,210 · management and general $10,150 · fundraising $8,519

  • 11b · Fees: legal

    total $5,145 · program services $0 · management and general $5,145 · fundraising $0

  • 11c · Fees: accounting

    total $56,493 · program services $0 · management and general $56,493 · fundraising $0

  • 11g · Fees: other

    total $86,775 · program services $86,775 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $42,034 · program services $41,845 · management and general $0 · fundraising $189

  • 13 · Office expenses

    total $67,307 · program services $53,723 · management and general $8,211 · fundraising $5,373

  • 14 · Information technology

    total $7,166 · program services $0 · management and general $7,166 · fundraising $0

  • 16 · Occupancy

    total $103,359 · program services $83,467 · management and general $11,935 · fundraising $7,957

  • 19 · Conferences, conventions and meetings

    total $76,114 · program services $70,407 · management and general $0 · fundraising $5,707

  • 20 · Interest

    total $17,852 · program services $0 · management and general $17,852 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $45,833 · program services $0 · management and general $45,833 · fundraising $0

  • 23 · Insurance

    total $23,466 · program services $11,733 · management and general $11,733 · fundraising $0

  • 24a · Other expenses: TAXES

    total $3,955 · program services $0 · management and general $3,955 · fundraising $0

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $33,058 · program services $33,058 · management and general $0 · fundraising $0

  • 24c · Other expenses: BAD DEBT

    total $5,000 · program services $0 · management and general $5,000 · fundraising $0

  • 24d · Other expenses: MISCELLANEOUS

    total $18,428 · program services $0 · management and general $15,500 · fundraising $2,928

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $352,802 · end of year $332,051

  • 3 · Pledges and grants receivable

    beginning of year $114,916 · end of year $19,816

  • 9 · Prepaid expenses and deferred charges

    beginning of year $161 · end of year $158

  • 10a · Land, buildings and equipment: cost or other basis

    $552,836

  • 10b · Land, buildings and equipment: accumulated depreciation

    $449,900

  • 10c · Land, buildings and equipment, net

    beginning of year $138,404 · end of year $102,936

  • 11 · Investments: publicly traded securities

    beginning of year $2,243,680 · end of year $1,861,555

  • 15 · Other assets

    end of year $168,499

  • 17 · Accounts payable and accrued expenses

    beginning of year $281,254 · end of year $97,029

  • 24 · Unsecured notes and loans payable

    end of year $516,033

  • 25 · Other liabilities

    end of year $166,698

  • 27 · Net assets without donor restrictions

    beginning of year $2,515,723 · end of year $1,650,726

  • 28 · Net assets with donor restrictions

    beginning of year $52,986 · end of year $54,529

Mission and programs · 2022

Mission

SEE SCHEDULE O

  • IN 2022, CNE FOCUSED ITS WORK ON FOUR KEY AREAS TO SUPPORT ITS MISSION: RELIABLE AND ACCESSIBLE ENERGY, LOCALLY-LED RECONSTRUCTION, ENHANCED EFFECTIVENESS OF FEDERAL POLICIES, AND SECURE AND AFFORDABLE HOUSING. IN EACH OF THESE AREAS SEMINAL RESEARCH AND EDUCATIONAL EFFORTS WERE CONDUCTED, SUCH AS AN ANALYSIS OF FEDERAL NUTRITIONAL ASSISTANCE FOR PUERTO RICO, A PROPOSAL FOR A PUERTO RICO RECOVERY TASK FORCE, AN ANALYSIS OF THE IMPACT OF SHORT-TERM RENTALS IN PUERTO RICO, AND THE CONFERENCE "PUERTO RICO'S COLONIAL CONUNDRUM," AMONG OTHERS. THE COMMUNICATIONS TEAM CONITNUED PRODUCING A MONTHLY NEWSLETTER WHERE CNE EXPERTS DIVE DEEP INTO A VARIETY OF ISSUES CONFRONTING PUERTO RICO.

    Expenses $1,388,577 · Grants $20,045 · Revenue $54,202

  • DURING 2022, CNE SERVED AS FISCAL SPONSOR FOR CIENCIA PUERTO RICO, INC., A NON-STOCK, NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE COMMONWEALTH OF PUERTO RICO. CIENCIA PUERTO RICO IS AN ORGANIZATION COMPOSED OF SCIENTISTS, PROFESSIONALS, STUDENTS, AND CITIZENS COMMITTED TO THE ADVANCEMENT OF SCIENCE IN PUERTO RICO AND PROMOTING SCIENCE COMMUNICATION, SCIENCE EDUCATION, AND SCIENTIFIC CAREERS.

    Expenses $371,014 · Grants $371,014

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Edwin Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Caroline McConnie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Antonio Luis Ferre-Rangel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Luis Silva

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Carey Burwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joaquin Bacardi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pinsy Rivera-Ortiz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jacques Chappuis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jorge Colon-Gerena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Enrique Vila-Biaggi

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Miguel A Soto Class

    PRESIDENT

    Total calculated
    $253,989
    From this org
    $241,300
    From related orgs
    $0
    Other
    $12,689
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,000
    Bonus
    $50,300
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,689
    Filer's total
    $253,989

  • Sergio Marxuach

    ASSISTANT SECRETARY; POLICY DIRECTOR

    Total calculated
    $158,300
    From this org
    $158,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,000
    Bonus
    $18,300
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $158,300

  • Nuria Ortiz

    SECRETARY; EXECUTIVE DIRECTOR

    Total calculated
    $104,800
    From this org
    $104,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Carmen Vargas

    TREASURER; FINANCE & ADMINISTRATIVE DIRECTOR

    Total calculated
    $109,670
    From this org
    $98,300
    From related orgs
    $0
    Other
    $11,370
    Hours/week
    40

  • Deepak Lamba

    RESEARCH DIRECTOR

    Total calculated
    $132,781
    From this org
    $129,300
    From related orgs
    $0
    Other
    $3,481
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333069349301148

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