Totals
- Total revenue
- $2,005,504
- Total expenses
- $2,024,337
- Contributions and grants received
- $1,974,160
- Grants paid
- $25,345
- Program service revenue
- $0
- Investment income
- $31,098
- Other revenue
- $246
- Total assets, end of year
- $3,822,547
- Total liabilities, end of year
- $1,161,170
- Net assets or fund balances, end of year
- $2,661,377
- Program services expenses (Part IX)
- $1,543,555
- Management and general expenses
- $334,818
- Fundraising expenses
- $145,964
- Program service expenses (Part III)
- $1,543,555
Program services were 76.2% 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
$1,974,160
-
3 · Investment income
total $31,098 · excluded $31,098
-
11a · Other revenue: OTHER INCOME
total $246 · related or exempt $246
-
11e · Other revenue, total
$246
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $25,345 · program services $25,345
-
5 · Compensation of officers, directors and key employees
total $637,329 · program services $510,960 · management and general $67,797 · fundraising $58,572
-
7 · Other salaries and wages
total $680,064 · program services $545,221 · management and general $72,343 · fundraising $62,500
-
9 · Other employee benefits
total $32,317 · program services $25,909 · management and general $3,438 · fundraising $2,970
-
10 · Payroll taxes
total $96,469 · program services $77,341 · management and general $10,262 · fundraising $8,866
-
11b · Fees: legal
total $6,679 · management and general $6,679
-
11c · Fees: accounting
total $48,815 · management and general $48,815
-
11g · Fees: other
total $24,345 · program services $24,345
-
12 · Advertising and promotion
total $56,382 · program services $56,382
-
13 · Office expenses
total $98,152 · program services $74,669 · management and general $17,316 · fundraising $6,167
-
14 · Information technology
total $8,683 · program services $5,112 · management and general $3,571
-
16 · Occupancy
total $122,577 · program services $116,733 · management and general $5,844
-
19 · Conferences, conventions and meetings
total $71,371 · program services $64,482 · fundraising $6,889
-
20 · Interest
total $64,643 · management and general $64,643
-
22 · Depreciation, depletion and amortization
total $26,360 · management and general $26,360
-
23 · Insurance
total $22,741 · program services $17,056 · management and general $5,685
-
24a · Other expenses: TAXES
total $2,065 · management and general $2,065
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $279,492 · end of year $148,464
-
3 · Pledges and grants receivable
beginning of year $31,400 · end of year $172,473
-
9 · Prepaid expenses and deferred charges
beginning of year $158 · end of year $158
-
10a · Land, buildings and equipment: cost or other basis
$481,798
-
10b · Land, buildings and equipment: accumulated depreciation
$430,938
-
10c · Land, buildings and equipment, net
beginning of year $74,253 · end of year $50,860
-
11 · Investments: publicly traded securities
beginning of year $2,443,419 · end of year $3,351,593
-
15 · Other assets
beginning of year $134,001 · end of year $98,999
-
17 · Accounts payable and accrued expenses
beginning of year $291,823 · end of year $31,990
-
24 · Unsecured notes and loans payable
beginning of year $516,952 · end of year $1,031,588
-
25 · Other liabilities
beginning of year $132,754 · end of year $97,592
-
27 · Net assets without donor restrictions
beginning of year $1,921,194 · end of year $2,561,377
-
28 · Net assets with donor restrictions
beginning of year $100,000 · end of year $100,000
Mission and programs · 2024
Mission
SEE PART I, LINE 1 SCHEDULE O DISCLOSURE
Activities or mission (Part I)
THE CENTER FOR A NEW ECONOMY (CNE) IS PUERTO RICO'S FIRST AND FOREMOST POLICY THINK TANK, AN INDEPENDENT, NONPARTISAN GROUP THAT ADVOCATES FOR THE DEVELOPMENT OF A NEW ECONOMY FOR PUERTO RICO. WE SEEK TO INFORM CURRENT POLICY DEBATES AND FIND SOLUTIONS TO TODAY'S MOST PRESSING AND COMPLEX ECONOMIC DEVELOPMENT PROBLEMS BY RIGOROUSLY ANALYZING HARD DATA AND PRODUCING ROBUST EMPIRICAL RESEARCH.
-
IN 2024, CNE CONTINUED TO LEAD EFFORTS TO IMPROVE THE SOCIOECONOMIC WELL-BEING OF PUERTO RICO THROUGH INDEPENDENT, EVIDENCE-BASED RESEARCH AND FORWARD-LOOKING POLICY ANALYSIS. OUR WORK FOCUSED ON CRITICAL AREAS INCLUDING ENERGY ACCESS AND RELIABILITY, POVERTY ALLEVIATION, FOOD SECURITY, INDUSTRIAL POLICY, AND THE EFFECTIVE DESIGN AND DELIVERY OF FEDERAL PROGRAMS. AMONG OUR KEY CONTRIBUTIONS, CNE PRODUCED A COMPREHENSIVE REVIEW OF THE U.S. DEPARTMENT OF ENERGY'S STUDY ON PUERTO RICO'S ELECTRIC GRID, WHICH WAS WIDELY DISSEMINATED TO INFORM PUBLIC UNDERSTANDING AND SUPPORT INFORMED POLICYMAKING ON GRID MODERNIZATION. WE ALSO PUBLISHED A LANDMARK POLICY PAPER ADVOCATING FOR A MODERN INDUSTRIAL POLICY TAILORED TO PUERTO RICO'S ECONOMIC REALITIES, AND RELEASED AN IN-DEPTH SUMMARY OF THE MANY COMPLEX AND OVERLAPPING INITIATIVES RESHAPING THE ISLAND'S ENERGY SECTOR. IN PARTNERSHIP WITH THE FINRA FOUNDATION, CNE PUBLISHED A MAJOR REPORT ON THE FINANCIAL CAPABILITY OF INDIVIDUALS AND HOUSEHOLDS IN PUERTO RICO, SHEDDING LIGHT ON CRITICAL CHALLENGES AND OPPORTUNITIES FOR LOCAL RESIDENTS. THESE PUBLICATIONS RECEIVED BROAD MEDIA COVERAGE AND CONTRIBUTED MEANINGFULLY TO PUBLIC DIALOGUE AND POLICY DEBATES. THROUGHOUT THE YEAR, OUR WORK WAS CONSISTENTLY SHARED THROUGH NEWSLETTERS, MEDIA OUTLETS, AND PUBLIC FORUMS-REINFORCING CNE'S ROLE AS A TRUSTED, NONPARTISAN SOURCE OF KNOWLEDGE AND ANALYSIS DEDICATED TO THE ISLAND'S LONG-TERM DEVELOPMENT.
Expenses $1,543,555 · Grants $25,345
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Miguel Soto-ClassMIGUEL SOTO-CLASS
PRESIDENT
- Total calculated
- $259,820
- From this org
- $244,100
- From related orgs
- $0
- Other
- $15,720
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,000
- Bonus
- $53,100
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $15,720
- Filer's total
- $259,820
-
Enrique Vila BiaggiENRIQUE VILA BIAGGI
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Joaquin BacardiJOAQUIN BACARDI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Carey BurwellELIZABETH CAREY BURWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jacques ChappuisJACQUES CHAPPUIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jorge Colon GerenaJORGE COLON GERENA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Antonio L Ferre RangelANTONIO L FERRE RANGEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Caroline McConnieCAROLINE MCCONNIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pinsy RiveraPINSY RIVERA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Luis SilvaLUIS SILVA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Edwin J PerezEDWIN J PEREZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sergio MarxuachSERGIO MARXUACH
POLICY DIRECTOR, ASSISTANT SECRETARY
- Total calculated
- $160,600
- From this org
- $160,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,000
- Bonus
- $20,600
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $160,600
-
Nuria OrtizNURIA ORTIZ
EXECUTIVE DIRECTOR, SECRETARY
- Total calculated
- $105,100
- From this org
- $105,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Carmen Vargas NinCARMEN VARGAS NIN
FINANCE & ADMIN DIRECTOR, TREASURER
- Total calculated
- $111,809
- From this org
- $98,600
- From related orgs
- $0
- Other
- $13,209
- Hours/week
- 40
-
Rosanna Torres PizarroROSANNA TORRES PIZARRO
DIRECTOR OF THE WASHINGTON DC OFFICE
- Total calculated
- $128,633
- From this org
- $128,633
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Nydia Suarez MarinNYDIA SUAREZ MARIN
PUBLIC AFFAIRS DIRECTOR
- Total calculated
- $109,873
- From this org
- $102,100
- From related orgs
- $0
- Other
- $7,773
- Hours/week
- 40
-
Enrique Figueroa GrillascaENRIQUE FIGUEROA GRILLASCA
RESEARCH ASSOCIATE
- Total calculated
- $100,300
- From this org
- $100,300
- From related orgs
- $0
- Other
- $0
- 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543119349304324
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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