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← NEW ECONOMICS FOR WOMEN

Form 990 for tax year 2023

Filed by NEW ECONOMICS FOR WOMEN.

Totals

Total revenue
$9,167,715
Total expenses
$11,382,099
Contributions and grants received
$8,419,464
Grants paid
$530,000
Program service revenue
$644,021
Investment income
$99,545
Other revenue
$4,685
Total assets, end of year
$44,472,456
Total liabilities, end of year
$35,115,557
Net assets or fund balances, end of year
$9,356,899
Program services expenses (Part IX)
$9,199,540
Management and general expenses
$1,929,337
Fundraising expenses
$253,222
Program service expenses (Part III)
$9,199,540

Program services were 80.8% 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.

  • 1c · Fundraising events

    $78,780

  • 1e · Government grants (contributions)

    $6,083,032

  • 1f · All other contributions, gifts and grants

    $2,257,652

  • 2a · Program service revenue: Rental Income

    total $420,902 · related or exempt $420,902

  • 2b · Program service revenue: Management & Training

    total $220,119 · related or exempt $220,119

  • 2c · Program service revenue: Parking Income

    total $3,000 · related or exempt $3,000

  • 3 · Investment income

    total $99,545 · excluded $99,545

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $78,780

  • 8b · Fundraising events: direct expenses

    $187

  • 8c · Net income from fundraising events

    total -$187 · excluded -$187

  • 11a · Other revenue: Other Income

    total $4,872 · related or exempt $4,872

  • 11e · Other revenue, total

    $4,872

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $530,000 · program services $530,000

  • 6 · Compensation of disqualified persons

    total $737,591 · program services $427,009 · management and general $310,582

  • 7 · Other salaries and wages

    total $4,628,277 · program services $4,421,877 · fundraising $206,400

  • 9 · Other employee benefits

    total $413,050 · program services $397,354 · management and general $5,783 · fundraising $9,913

  • 10 · Payroll taxes

    total $464,252 · program services $446,597 · management and general $6,409 · fundraising $11,246

  • 11b · Fees: legal

    total $78,131 · program services $28,481 · management and general $49,650

  • 11c · Fees: accounting

    total $74,598 · program services $44,598 · management and general $30,000

  • 11g · Fees: other

    total $2,021,916 · program services $1,539,801 · management and general $467,372 · fundraising $14,743

  • 12 · Advertising and promotion

    total $22,598 · program services $21,447 · management and general $1,151

  • 13 · Office expenses

    total $10,269 · program services $6,067 · management and general $4,199 · fundraising $3

  • 14 · Information technology

    total $192,010 · program services $156,086 · management and general $34,828 · fundraising $1,096

  • 16 · Occupancy

    total $276,977 · program services $256,057 · management and general $20,920

  • 17 · Travel

    total $43,223 · program services $36,617 · management and general $6,606

  • 19 · Conferences, conventions and meetings

    total $131,570 · program services $57,542 · management and general $74,028

  • 20 · Interest

    total $345,016 · management and general $345,016

  • 22 · Depreciation, depletion and amortization

    total $138,696 · management and general $138,696

  • 23 · Insurance

    total $131,503 · program services $133,857 · management and general -$5,329 · fundraising $2,975

  • 24a · Other expenses: Supplies

    total $216,118 · program services $176,614 · management and general $39,444 · fundraising $60

  • 24b · Other expenses: ADP Payroll Services

    total $174,635 · program services $144,560 · management and general $23,815 · fundraising $6,260

  • 24c · Other expenses: Telephone

    total $160,008 · program services $75,400 · management and general $84,172 · fundraising $436

  • 24d · Other expenses: Community Events

    total $144,581 · program services $109,464 · management and general $35,117

  • 24e · All other expenses

    total $447,080 · program services $190,112 · management and general $256,878 · fundraising $90

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,263,478 · end of year $978,273

  • 2 · Savings and temporary cash investments

    beginning of year $18,842

  • 3 · Pledges and grants receivable

    beginning of year $975,628 · end of year $2,082,706

  • 4 · Accounts receivable

    beginning of year $2,129,041 · end of year $248,813

  • 7 · Other notes and loans receivable

    beginning of year $15,688,416 · end of year $14,306,774

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,506 · end of year $41,448

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

    $6,663,485

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

    $2,595,008

  • 10c · Land, buildings and equipment, net

    beginning of year $14,914,978 · end of year $4,068,477

  • 12 · Investments: other securities

    beginning of year $8,225,322 · end of year $8,075,672

  • 15 · Other assets

    beginning of year $13,388,052 · end of year $14,670,293

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,070,276 · end of year $1,027,838

  • 23 · Secured mortgages and notes payable

    beginning of year $22,408,925 · end of year $14,290,932

  • 24 · Unsecured notes and loans payable

    beginning of year $8,448,216 · end of year $6,990,368

  • 25 · Other liabilities

    beginning of year $12,667,262 · end of year $12,806,419

  • 27 · Net assets without donor restrictions

    beginning of year $11,554,819 · end of year $6,809,134

  • 28 · Net assets with donor restrictions

    beginning of year $2,547,765 · end of year $2,547,765

Mission and programs · 2023

Mission

New Economics for Women helps women from underserved communities in Southern California pave the way to peace of mind, prosperity and promise by providing an unrivaled level of comprehensive, personalized support, access to a continuum of resources and by building intentional communities where families receive everything they need so that they can thrive.

Activities or mission (Part I)

To empower generations of under-resourced women and their families to thrive.

  • Family Source Centers: Trough NEW's two Family Source Centers, NEW empowers thousands of adults, youth, and children to provide access to resources to stabilize and economically empower families, and assist in their development of pathways toward economic prosperity. In partnership with the City of Los Angeles, NEW acts as the lead agency for Family Source Centers located in the Canoga Park and Van Nuys communities of Los Angeles. At each site, NEW's partnerships with other community-based to provide low-income families with high quality services, workshops, and events to enable increases to family income, housing stability, and economic mobility. Families enrolled can access holistic spectrum of anti-poverty services including case management, employment services, legal services, free tax preparation, and financial literacy.

    Expenses $9,199,540 · Grants $530,000 · Revenue $648,893

  • Women's Business Center: NEW's SBA Women's Business Center Program helps aspiring entrepreneurs receive the motivational support, education, and practical tools they need to transform their personal passion into a thriving small business. These small business upstarts work to provide economic mobility accelerators to each owner, while spurring job growth and economic stability for the employees and areas served by these powerful small businesses. The Women's Business Center is part of a thriving interconnected ecosystem of services designed to spur economic mobility in families. The Women's Business Center has provided thousands of participants with high quality resources for business development, both in person and virtually, with an emphasis on Spanish and Armenian language resources, due to the needs of the local community in the Canoga Park area of Los Angeles.

  • Learning Centers: NEW's Learning Centers empower students and their families to build a foundation for academic success by elevating their aspirations and equipping them with the knowledge they need to confidently succeed as students of the world. With over 265 students enrolled in the Pico-Union and Canoga Park areas of Los Angeles, NEW provides year-round personalized homework support, a rotating selection of enrichment courses, summer and winter day camps, holiday events, community clean-ups, and a broad array of specialty programs made possible through partnerships with various other organizations dedicated to academic success. Our staff empowers students to embrace their curiosity and love of learning, and gives parents the resources to actively and confidently support their children's educational goals.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Beatriz Olvera Stotzer

    President

    Total calculated
    $149,796
    From this org
    $149,796
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 40 related

  • Andrew Cheng

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Belinda Barragan

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Miguel Escobar

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Stacey Brenner

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Joan Kradin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Robert Morales

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Christina Sanchez

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Maria L Garcia

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Antonio Manning

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Nilda Ruiz

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Welton Smith

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Magdalena Cervantes

    Executive Director

    Total calculated
    $156,600
    From this org
    $135,000
    From related orgs
    $0
    Other
    $21,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,600
    Filer's total
    $156,600

  • Leticia Andueza

    Associate Executive Director

    Total calculated
    $145,000
    From this org
    $125,000
    From related orgs
    $0
    Other
    $20,000
    Hours/week
    40

  • Carmen Luna

    Program Director

    Total calculated
    $131,466
    From this org
    $113,333
    From related orgs
    $0
    Other
    $18,133
    Hours/week
    40

  • Yesenia Medina

    Program Director

    Total calculated
    $127,639
    From this org
    $110,034
    From related orgs
    $0
    Other
    $17,605
    Hours/week
    40

  • Ruth Garcia-Corrales

    Program Director

    Total calculated
    $121,136
    From this org
    $104,428
    From related orgs
    $0
    Other
    $16,708
    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

None.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOCOS Maintenance and Janitorial Services

    Provide maintenance services for new affordable housing · CA · assets -$136,097

    Directly controlled by New Economics for Women

  • MCB LLC

    Holding company for NSP2 Real Properties · CA · assets -$12,601

    Directly controlled by New Economics for Women

  • LCB Enterprises LLC

    Single purpose entity, holding company for real estate development. · CA · income $55,674 · assets $1,222,810

    Directly controlled by New Economics for Women

  • Aguas Claras LLC

    Single purpose entity, holding company for real estate development. · CA · assets $2,607

    Directly controlled by New Economics for Women

  • New Community Investments LLC

    Make investments that lead to economic mobility and alleviate poverty · CA · income -$1,222,628 · assets $2,424

    Directly controlled by New Economics for Women

  • Yolanda Property LLC

    Real estate commercial renting · CA · income $1,431,613 · assets $1,738,403

    Directly controlled by New Economics for Women

  • 27th and San Pedro LLC

    Real estate holding company · CA · income -$10,725 · assets $177,236

    Directly controlled by New Economics for Women

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • New Capital LLC

    Related · Property management for low-income housing · CA · 97.5% owned · share of income $236,232 · share of assets $2,138,958 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Bendecidos San Fernando LLC

    S · Single purpose entity, holding company for real estate development · CA · 75% owned · share of assets $27,939

    Directly controlled by New Economics for Women

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202541359349307534

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