New Economy Coalition Inc

Analysis

New Economy Coalition Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Economy Coalition Inc reported income of $2.6m and spending of $2.3m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.6m (+90%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Economy Coalition Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Church Community Services Inc ($2.5m), Center for the Visually Impaired Inc ($2.6m) and American Association for Justice Education Fund ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $114k (5.0% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $2.5m against liabilities of $348k, net assets of $2.1m. It reported 14 employees.