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Nonprofiteer
← THE NEW PRESS INC

Form 990 for tax year 2022

Filed by THE NEW PRESS INC.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$5,201,397 changed to $4,787,117
Total expenses
$5,045,167 changed to $5,058,366
Contributions and grants received
$2,553,281 changed to $2,589,452
Program service revenue
$414,316 changed to $454,749
Investment income
$5,463 changed to $3,035
Other revenue
$2,228,337 changed to $1,739,881
Total assets, end of year
$9,659,193 changed to $11,028,719
Total liabilities, end of year
$1,485,699 changed to $3,281,361
Net assets or fund balances, end of year
$8,173,494 changed to $7,747,358
Program services expenses
$3,497,643 changed to $3,391,826
Management and general expenses
$770,953 changed to $799,074
Fundraising expenses
$776,571 changed to $867,466
Program service expenses (Part III)
$3,497,643 changed to $3,391,826

Totals

Total revenue
$4,787,117
Total expenses
$5,058,366
Contributions and grants received
$2,589,452
Grants paid
$0
Program service revenue
$454,749
Investment income
$3,035
Other revenue
$1,739,881
Total assets, end of year
$11,028,719
Total liabilities, end of year
$3,281,361
Net assets or fund balances, end of year
$7,747,358
Program services expenses (Part IX)
$3,391,826
Management and general expenses
$799,074
Fundraising expenses
$867,466
Program service expenses (Part III)
$3,391,826

Program services were 67.1% 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

    $204,212

  • 1e · Government grants (contributions)

    $468,692

  • 1f · All other contributions, gifts and grants

    $1,916,548

  • 1g · Noncash contributions included above

    $1,577

  • 2a · Program service revenue: SUBRIGHTS INCOME

    total $454,749 · related or exempt $454,749

  • 3 · Investment income

    total $3,035 · excluded $3,035

  • 6a · Gross rents

    real property $44,231

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $44,231

  • 6d · Net rental income or loss

    total $44,231 · excluded $44,231

  • 8a · Fundraising events: gross income

    $51,195

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

    $204,212

  • 8b · Fundraising events: direct expenses

    $51,195

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $4,402,158

  • 10b · Cost of goods sold

    $2,755,994

  • 10c · Net income from sales of inventory

    total $1,646,164 · related or exempt $1,646,164

  • 11a · Other revenue: OTHER INCOME

    total $49,486 · related or exempt $49,486

  • 11e · Other revenue, total

    $49,486

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $805,502 · program services $339,095 · management and general $341,325 · fundraising $125,082

  • 7 · Other salaries and wages

    total $1,615,015 · program services $1,120,337 · management and general $133,849 · fundraising $360,829

  • 8 · Pension plan contributions

    total $83,658 · program services $56,098 · management and general $9,489 · fundraising $18,071

  • 9 · Other employee benefits

    total $298,870 · program services $186,062 · management and general $55,048 · fundraising $57,760

  • 10 · Payroll taxes

    total $216,157 · program services $131,218 · management and general $41,620 · fundraising $43,319

  • 11b · Fees: legal

    total $12,405 · program services $7,429 · management and general $2,438 · fundraising $2,538

  • 11c · Fees: accounting

    total $50,757 · management and general $50,757

  • 11g · Fees: other

    total $294,175 · program services $189,301 · management and general $51,388 · fundraising $53,486

  • 12 · Advertising and promotion

    total $329,804 · program services $322,777 · management and general $3,443 · fundraising $3,584

  • 13 · Office expenses

    total $104,001 · program services $62,385 · management and general $20,391 · fundraising $21,225

  • 16 · Occupancy

    total $328,930 · program services $203,005 · management and general $61,703 · fundraising $64,222

  • 17 · Travel

    total $33,484 · program services $20,053 · management and general $6,581 · fundraising $6,850

  • 22 · Depreciation, depletion and amortization

    total $17,132 · program services $10,260 · management and general $3,367 · fundraising $3,505

  • 23 · Insurance

    total $44,642 · program services $26,735 · management and general $8,774 · fundraising $9,133

  • 24a · Other expenses: DISTRIBUTION

    total $697,017 · program services $697,017

  • 24b · Other expenses: EVENT EXPENSES

    total $105,441 · program services $8,642 · management and general $2,836 · fundraising $93,963

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $17,640 · program services $10,564 · management and general $3,467 · fundraising $3,609

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $2,319 · management and general $2,319

  • 24e · All other expenses

    total $1,417 · program services $848 · management and general $279 · fundraising $290

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,669,499 · end of year $1,206,125

  • 2 · Savings and temporary cash investments

    beginning of year $2,858,433 · end of year $2,864,877

  • 3 · Pledges and grants receivable

    beginning of year $1,167,000 · end of year $919,500

  • 4 · Accounts receivable

    beginning of year $1,728,837 · end of year $1,218,857

  • 8 · Inventories for sale or use

    beginning of year $1,373,640 · end of year $1,685,692

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,340 · end of year $11,256

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

    $206,008

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

    $136,401

  • 10c · Land, buildings and equipment, net

    beginning of year $77,649 · end of year $69,607

  • 11 · Investments: publicly traded securities

    beginning of year $70,502 · end of year $70,771

  • 15 · Other assets

    beginning of year $1,354,055 · end of year $2,982,034

  • 17 · Accounts payable and accrued expenses

    beginning of year $959,258 · end of year $571,189

  • 24 · Unsecured notes and loans payable

    beginning of year $428,692

  • 25 · Other liabilities

    beginning of year $899,499 · end of year $2,710,172

  • 27 · Net assets without donor restrictions

    beginning of year $6,116,175 · end of year $5,859,509

  • 28 · Net assets with donor restrictions

    beginning of year $1,900,331 · end of year $1,887,849

Mission and programs · 2022

Mission

PUBLICATION OF BOOKS ON CULTURAL, HISTORICAL, AND SOCIAL ISSUES TO INCREASE EDUCATIONAL AND SOCIAL AWARENESS. THESE BOOKS ARE OFTEN WRITTEN BY AUTHORS AND/OR ARE WRITTEN ABOUT SUBJECTS THAT MIGHT OTHERWISE NOT BE DEEMED COMMERCIAL ENOUGH (CONT'D ON SCHEDULE O)TO BE PUBLISHED. ORGANIZE FREE PUBLIC FORUMS FOR DISCUSSION ABOUT ISSUES ADDRESSED IN THE NEW PRESS BOOKS BY THE NEW PRESS AUTHORS.

Activities or mission (Part I)

PUBLISHING IN THE PUBLIC INTEREST BOOKS OF CULTURAL, HISTORICAL, (CONT'D ON SCHEDULE O)AND/OR EDUCATIONAL VALUE THAT ARE LIKELY TO BE DEEMED INSUFFICIENTLY PROFITABLE AND HENCE OVERLOOKED BY COMMERCIAL PUBLISHERS.

  • THE NEW PRESS HAD AN OVERALL SOLID YEAR DESPITE FACING THE CHALLENGES THAT MOST PUBLISHERS WHOSE LISTS ARE PREDOMINANTLY COMPRISED OF NONFICTION ARE FACING. OUR FRONTLIST SALES EXCEEDED FORECAST WHILE OUR BACKLIST SALES SHOWED A DECLINE FROM THE UNPRECEDENTED SALES REVENUE ENJOYED IN 2020 AND 2021. SIMILARLY, CONTRIBUTED REVENUES EXPERIENCED A DECLINED FROM THE FIGURES WE SAW IN 2020. THE NEW PRESS CONTINUED TO IMPROVE ITS LIQUIDITY WITH A CASH ON HAND OVER $4M AT THE END OF 2022.

    Expenses $3,391,826 · Revenue $2,150,399

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

Listed in Part VII

  • Gara Lamarche

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Theodore M Shaw

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Amy Glickman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Burnes

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Diane Wachtell

    EXECUTIVE DIRECTOR

    Total calculated
    $277,960
    From this org
    $233,552
    From related orgs
    $0
    Other
    $44,408
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $232,052
    Bonus
    $1,500
    Other
    $0
    Deferred
    $12,105
    Nontaxable benefits
    $32,303
    Filer's total
    $277,960

  • Ellen Adler

    PUBLISHER

    Total calculated
    $267,515
    From this org
    $232,751
    From related orgs
    $0
    Other
    $34,764
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $231,251
    Bonus
    $1,500
    Other
    $0
    Deferred
    $12,118
    Nontaxable benefits
    $22,646
    Filer's total
    $267,515

  • Jonathan S Abady

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jessica Bauman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Anthony Butler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Deutsch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bruce Gottlieb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Hebel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vivien Labaton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Lehman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Raben

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frederick Ao Schwarz Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nabiha Syed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tina C Weiner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carline Yup To 52022

    DIRECTOR OF FINANCE

    Total calculated
    $115,130
    From this org
    $104,903
    From related orgs
    $0
    Other
    $10,227
    Hours/week
    35

  • Rosa M Del Saz As Of 42022

    CHIEF FINANCE & ADMIN OFFICER

    Total calculated
    $144,894
    From this org
    $131,299
    From related orgs
    $0
    Other
    $13,595
    Hours/week
    35

  • James Phelan

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $182,767
    From this org
    $141,412
    From related orgs
    $0
    Other
    $41,355
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $139,912
    Bonus
    $1,500
    Other
    $0
    Deferred
    $6,996
    Nontaxable benefits
    $34,359
    Filer's total
    $182,767

  • Marc Favreau

    EDITORIAL DIRECTOR

    Total calculated
    $139,527
    From this org
    $131,880
    From related orgs
    $0
    Other
    $7,647
    Hours/week
    35

  • Brian Ulicky

    DIRECTOR OF MARKETING & PU

    Total calculated
    $133,019
    From this org
    $116,130
    From related orgs
    $0
    Other
    $16,889
    Hours/week
    35

  • Fran Forte

    DIRECTOR OF PRODUCTION

    Total calculated
    $123,054
    From this org
    $105,756
    From related orgs
    $0
    Other
    $17,298
    Hours/week
    35

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
CARLINE YUP RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $45,438.

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
2022
Filed
17 July 2024
IRS schema version
2022v5.0
Source object
202401999349301135

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