Center for a New Economy Inc

Analysis

Center for a New Economy Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in April 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Center for a New Economy Inc reported income of $1.9m and spending of $1.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.9m to $1.9m (-34%), an average of -9.8% a year. The sharpest change came in the year to December 2020, when income dropped by 31%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Center for a New Economy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 80th percentile within PR. Charities of a similar size with the same main cause include Bloomington Montessori Association Inc ($1.9m), Augsburg Fairview Academy ($1.9m) and Joseph Academy Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $549k (29% of expenses). Other salaries and wages came to $487k. At year end it held assets of $3.0m against liabilities of $942k, net assets of $2.0m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.