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Nonprofiteer
← THE INSTITUTE FOR NEW ECONOMIC THINKING INC

Form 990 for tax year 2023

Filed by THE INSTITUTE FOR NEW ECONOMIC THINKING INC.

Totals

Total revenue
$753,427
Total expenses
$5,988,488
Contributions and grants received
$82,589
Grants paid
$555,983
Program service revenue
$0
Investment income
$597,165
Other revenue
$73,673
Total assets, end of year
$15,497,843
Total liabilities, end of year
$1,475,131
Net assets or fund balances, end of year
$14,022,712
Program services expenses (Part IX)
$4,865,991
Management and general expenses
$725,688
Fundraising expenses
$396,809
Program service expenses (Part III)
$4,865,991

Program services were 81.3% 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

    $82,589

  • 3 · Investment income

    total $597,165 · excluded $597,165

  • 6a · Gross rents

    real property $8,400

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $8,400

  • 6d · Net rental income or loss

    total $8,400 · excluded $8,400

  • 11a · Other revenue: EXPENSE REIMBURSEMENT

    total $64,466 · excluded $64,466

  • 11b · Other revenue: OTHER INCOME

    total $807 · excluded $807

  • 11e · Other revenue, total

    $65,273

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $163,347 · program services $163,347

  • 2 · Grants to domestic individuals

    total $36,275 · program services $36,275

  • 3 · Grants to foreign organizations and individuals

    total $356,361 · program services $356,361

  • 5 · Compensation of officers, directors and key employees

    total $986,800 · program services $545,300 · management and general $337,698 · fundraising $103,802

  • 7 · Other salaries and wages

    total $1,163,226 · program services $1,068,604 · management and general $84,156 · fundraising $10,466

  • 8 · Pension plan contributions

    total $60,902 · program services $54,493 · management and general $4,806 · fundraising $1,603

  • 9 · Other employee benefits

    total $234,493 · program services $199,353 · management and general $27,919 · fundraising $7,221

  • 10 · Payroll taxes

    total $137,195 · program services $104,786 · management and general $25,503 · fundraising $6,906

  • 11b · Fees: legal

    total $9,130 · program services $7,928 · management and general $1,202

  • 11c · Fees: accounting

    total $49,500 · program services $42,980 · management and general $6,520

  • 11g · Fees: other

    total $745,804 · program services $578,889 · management and general $43,598 · fundraising $123,317

  • 12 · Advertising and promotion

    total $72,747 · program services $72,747

  • 13 · Office expenses

    total $102,088 · program services $65,568 · management and general $33,674 · fundraising $2,846

  • 14 · Information technology

    total $299,981 · program services $208,432 · management and general $54,971 · fundraising $36,578

  • 16 · Occupancy

    total $206,337 · program services $157,551 · management and general $38,517 · fundraising $10,269

  • 17 · Travel

    total $926,435 · program services $829,325 · management and general $16,537 · fundraising $80,573

  • 19 · Conferences, conventions and meetings

    total $47,000 · program services $42,629 · management and general $869 · fundraising $3,502

  • 20 · Interest

    total $3,578 · management and general $3,578

  • 22 · Depreciation, depletion and amortization

    total $152,586 · program services $116,482 · management and general $28,432 · fundraising $7,672

  • 23 · Insurance

    total $40,568 · program services $23,067 · management and general $15,745 · fundraising $1,756

  • 24a · Other expenses: VIDEO PRODUCTION/OUTREA

    total $183,125 · program services $183,125

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $10,337 · program services $8,270 · management and general $1,772 · fundraising $295

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $673 · program services $479 · management and general $191 · fundraising $3

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,549,237 · end of year $331,811

  • 2 · Savings and temporary cash investments

    beginning of year $15,273,125 · end of year $13,760,229

  • 3 · Pledges and grants receivable

    beginning of year $1,368,975 · end of year $573,310

  • 7 · Other notes and loans receivable

    beginning of year $4,574 · end of year $490

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,443 · end of year $28,834

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

    $3,107,882

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

    $2,928,539

  • 10c · Land, buildings and equipment, net

    beginning of year $234,089 · end of year $179,343

  • 11 · Investments: publicly traded securities

    beginning of year $24,518

  • 15 · Other assets

    beginning of year $811,895 · end of year $623,826

  • 17 · Accounts payable and accrued expenses

    beginning of year $419,768 · end of year $233,025

  • 18 · Grants payable

    beginning of year $1,150,896 · end of year $558,739

  • 19 · Deferred revenue

    end of year $700

  • 25 · Other liabilities

    beginning of year $880,600 · end of year $682,667

  • 27 · Net assets without donor restrictions

    beginning of year $18,305,175 · end of year $13,649,402

  • 28 · Net assets with donor restrictions

    beginning of year $547,417 · end of year $373,310

Mission and programs · 2023

Mission

THE INSTITUTE FOR NEW ECONOMIC THINKING, INC. ("INET") PROVIDES FRESH INSIGHT AND THINKING TO PROMOTE CHANGES IN ECONOMIC THEORY AND PRACTICE THROUGH CONFERENCES, GRANTS, AND EDUCATION INITIATIVES.

  • CONTENTINET CONDUCTS AND COMMISSIONS RESEARCH, CONVENES FORUMS FOR EXCHANGING IDEAS, DEVELOPS CURRICULA, AND NURTURES A GLOBAL COMMUNITY OF YOUNG SCHOLARS. INET CAREFULLY INCUBATES NEW ECONOMIC THINKING WITHIN THE ACADEMY AND BEYOND. WE WORK TO GUIDE THE FIELD AWAY FROM ECONOMIC ORTHODOXY SO THAT IT CAN FREE ITSELF OF INERTIA AND PAST FAILURES. WE THEN PROMOTE THE NEW ECONOMIC THINKING THROUGH RESEARCH, MULTIMEDIA PRODUCTION, AND OUR YOUNG SCHOLARS INITIATIVE.

    Expenses $2,384,306 · Grants $299,867

  • YOUNG SCHOLARS INITIATIVE2023 MARKED A FURTHER BROADENING OF YSI COMMUNITY'S EFFORTS TO ACHIEVE BOTH DEPTH AND SCALE TO ITS PLATFORM DELVING INTO NEW ECONOMIC IDEAS. THE COLLABORATIVE EFFORTS INCLUDED AMONGST OTHER ACTIVITIES WORKSHOPS, PRE-CONFERENCES, WEBINARS AND READING GROUPS. THE NEWLY CREATED YSI HUBS ALLOW FOR MORE ONGOING LOCAL COLLABORATION AND COMMUNITY BUILDING.IN 2023 THE YSI COMMUNITY ORGANIZED 121 PROJECTS, 101 WERE IN-PERSON WORKSHOPS. 49 OF THEM TOOK PLACE IN EUROPE, 29 IN LATIN AMERICA, 11 IN AFRICA, 7 IN NORTH AMERICA, 4 IN ASIA, AND 1 IN THE MIDDLE EAST. THE 20 VIRTUAL PROJECTS CONTAINED BOTH ONE OFF WEBINARS AND SERIES. YSI ALSO SUPPORTED 23 EVENTS BY OTHER STUDENT ORGANIZATIONS THROUGH ITS EVENTS GRANTS PROGRAM. THE COMMUNITY GREW ITS MEMBERSHIP BY 12% TO OVER 22,000 MEMBERS DEMONSTRATING ITS ROBUST EXPANSION AND COMMITMENT TO ITS MISSION.

    Expenses $1,232,492 · Grants $98,031

  • MULTIMEDIA PRODUCTIONIN THE FIELD OF VIDEO AND MULTIMEDIA, INET HAS RELEASED 70 NEW PRODUCTIONS THIS YEAR, ENCOMPASSING A WIDE RANGE OF FORMATS. THESE INCLUDE IN-DEPTH EDUCATIONAL VIDEO SERIES, ENGAGING ANIMATED EXPLAINERS, VIDEOCASTS, AND INSIGHTFUL INTERVIEWS, AND PROMOTIONAL VIDEOS TO DRIVE PEOPLE TO OUR 2,000+ VIDEO LIBRARY. ALL OUR 14 TELLY AWARD AND 3 TIME WEBBY AWARD HONORED VIDEOS ARE DESIGNED TO FOSTER UNDERSTANDING AND DISCUSSION OF OUR SCHOLARS AREAS OF EXPERTISE.

    Expenses $730,762

  • RESEARCHIN 2023, INET SUPPORTED APPROXIMATELY 50 RESEARCH GRANT PROJECTS, WHICH INCLUDED 12 NEW INITIATIVES. THE ORGANIZATION ALLOCATED APPROXIMATELY $650,000 TO RESEARCH GRANTS, WITH THE MAJORITY OF NEW PROJECTS BASED IN THE UNITED STATES, ALONGSIDE OTHERS IN THE UK, GERMANY, AND CANADA. INET'S WORKING PAPER SERIES ADDED 18 NEW PAPERS LAST YEAR, BRINGING THE TOTAL TO 214. THESE PAPERS ADDRESSED SIGNIFICANT ISSUES, SUCH AS ANTITRUST, PRIVATE EQUITY IN HEALTHCARE, FINANCIALIZATION, INFLATION, AND MANY OTHER TIMELY ISSUES.SIGNIFICANT OTHER PROGRAMSINET'S COMMISSION ON GLOBAL ECONOMIC TRANSFORMATION CONTINUED ITS WORK DURING 2023, AIMING FOR A FINAL REPORT RELEASE IN 2024.INET CONTINUED ITS ONLINE FORUM ENTITLED INET LIVE, AND SIGNIFICANT WORK IN THE AREAS OF CURRICULUM REFORM AND THE HISTORY OF ECONOMIC THOUGHTINET CONTINUED THE EXPANSION OF ITS SUBSTANTIAL FOOTPRINT OF EVENT PROGRAMMING IN INDIA, WITH A MIX OF ONLINE AND IN-PERSON ACTIVITIES.

    Expenses $518,431 · Grants $158,085

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

Listed in Part VII

  • Robert Johnson

    PRESIDENT

    Total calculated
    $519,009
    From this org
    $445,763
    From related orgs
    $0
    Other
    $73,246
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $445,763
    Bonus
    $0
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $56,746
    Filer's total
    $519,009

  • Rohinton Medhora

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Clive Cowdery

    DIRECTOR, THRU 4/4/23

    Total calculated
    $0
    Hours/week
    0.25

  • Gaurav Dalmia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jamie Daves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Neva Goodwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Janeway

    DIRECTOR, THRU 10/11/23

    Total calculated
    $0
    Hours/week
    1

  • Anatole Kaletsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drummond Pike

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John A Powell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gillian Tett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Vague

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jason Shure

    CFO/SECRETARY

    Total calculated
    $238,569
    From this org
    $196,504
    From related orgs
    $0
    Other
    $42,065
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,504
    Bonus
    $0
    Other
    $0
    Deferred
    $10,000
    Nontaxable benefits
    $32,065
    Filer's total
    $238,569

  • Donna Folkerts

    CHIEF ADMIN OFFICER

    Total calculated
    $229,222
    From this org
    $194,806
    From related orgs
    $0
    Other
    $34,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,806
    Bonus
    $0
    Other
    $0
    Deferred
    $10,000
    Nontaxable benefits
    $24,416
    Filer's total
    $229,222

  • Matthew Kulvicki

    DIRECTOR OF FILM AND VIDEO

    Total calculated
    $216,310
    From this org
    $189,120
    From related orgs
    $0
    Other
    $27,190
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,120
    Bonus
    $0
    Other
    $0
    Deferred
    $9,500
    Nontaxable benefits
    $17,690
    Filer's total
    $216,310

  • Ramon Contreras

    HEAD OF SPECIAL POJECTS

    Total calculated
    $200,647
    From this org
    $158,240
    From related orgs
    $0
    Other
    $42,407
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,240
    Bonus
    $0
    Other
    $0
    Deferred
    $8,000
    Nontaxable benefits
    $34,407
    Filer's total
    $200,647

  • Albert T Ferguson

    DIRECTOR OF RESEARCH

    Total calculated
    $137,352
    From this org
    $130,000
    From related orgs
    $0
    Other
    $7,352
    Hours/week
    40

  • Jay Pocklington

    DIRECTOR YOUNG SCHOLARS

    Total calculated
    $150,978
    From this org
    $126,750
    From related orgs
    $0
    Other
    $24,228
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,750
    Bonus
    $0
    Other
    $0
    Deferred
    $6,438
    Nontaxable benefits
    $17,790
    Filer's total
    $150,978

  • Bernhard Wilpert

    COMM. & DEV. CONSULTANT

    Total calculated
    $128,788
    From this org
    $120,000
    From related orgs
    $0
    Other
    $8,788
    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

  • 3 · 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
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202433189349311963

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