THE INSTITUTE FOR NEW ECONOMIC THINKING INC

EIN: 271916040 501(c)(3) Social Science

NEW YORK, NY

Total Revenue
$429,626
Total Expenses
$5,803,431
Total Assets
$9,916,689
Net Assets
$8,859,377
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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
DE
Principal Officer
ROBERT JOHNSON
Phone
6467514900
Tax Period
2024-01-01 to 2024-12-31

THE INSTITUTE FOR NEW ECONOMIC THINKING INC, founded in 2010, is a small nonprofit in the Social Science sector that reported $430K in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $5.8M exceeded revenue, resulting in a 1251% operating deficit.

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.

Program Service Accomplishments

Program 1
Expenses: $1,528,039 Revenue: $0

YOUNG SCHOLARS INITIATIVE2024 MARKED SIGNIFICANT GROWTH AND MATURATION. MEMBERS ORGANIZED 196 PROJECTS --170 IN-PERSON WORKSHOPS, 11 WEBINAR SERIES, AND 15 ONE-TIME WEBINARS. YSI SUPPORTED MORE THAN...

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YOUNG SCHOLARS INITIATIVE2024 MARKED SIGNIFICANT GROWTH AND MATURATION. MEMBERS ORGANIZED 196 PROJECTS --170 IN-PERSON WORKSHOPS, 11 WEBINAR SERIES, AND 15 ONE-TIME WEBINARS. YSI SUPPORTED MORE THAN 20 EXTERNAL EVENTS THROUGH ITS EVENT GRANTS PROGRAM, AND THE NETWORK OF YSI HUBS PROVIDED ONGOING OPPORTUNITIES FOR LOCAL COLLABORATION AND COMMUNITY BUILDING.MEMBERSHIP ROSE 21% --NEARLY 4,000 NEW MEMBERS --TO JUST UNDER 24,000. THE NUMBER OF ACTIVE ORGANIZERS REACHED 581, AND CORE LEADERSHIP GREW TO 644.

Program 2
Expenses: $868,146 Revenue: $0

RESEARCHIIN 2024, INET SUPPORTED APPROXIMATELY 50 RESEARCH GRANTS AND LAUNCHED 9 NEW INITIATIVES. THE WORKING PAPER SERIES ADDED 17 PAPERS, BRINGING THE TOTAL TO 231. WORKING PAPERS EXAMINED THE...

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RESEARCHIIN 2024, INET SUPPORTED APPROXIMATELY 50 RESEARCH GRANTS AND LAUNCHED 9 NEW INITIATIVES. THE WORKING PAPER SERIES ADDED 17 PAPERS, BRINGING THE TOTAL TO 231. WORKING PAPERS EXAMINED THE CONSUMER WELFARE MODEL IN ANTITRUST, AI AND MARKET STRUCTURE, PHARMACEUTICAL PRICING, THE TRANSITION TO ELECTRIC VEHICLES, U.S. HOUSEHOLD INDEBTEDNESS, AND ADDITIONAL DRIVERS OF ECONOMIC IMBALANCES.

Program 3
Expenses: $834,179 Revenue: $0

CONTENTFOUNDED IN 2009 AFTER THE FINANCIAL CRISIS, THE INSTITUTE FOR NEW ECONOMIC THINKING (INET) IS A NONPARTISAN, NONPROFIT ORGANIZATION THAT DEVELOPS AND SHARES RESEARCH-BASED IDEAS TO STRENGTHEN...

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CONTENTFOUNDED IN 2009 AFTER THE FINANCIAL CRISIS, THE INSTITUTE FOR NEW ECONOMIC THINKING (INET) IS A NONPARTISAN, NONPROFIT ORGANIZATION THAT DEVELOPS AND SHARES RESEARCH-BASED IDEAS TO STRENGTHEN ECONOMIC PERFORMANCE AND BROADEN OPPORTUNITY. TO MEET CURRENT AND FUTURE CHALLENGES, INET CONDUCTS AND COMMISSIONS RESEARCH, CONVENES FORUMS FOR THE EXCHANGE OF IDEAS, AND NURTURES A COMMUNITY OF YOUNG SCHOLARS. WE INCUBATE NEW ECONOMIC APPROACHES WITHIN ACADEMIA AND BEYOND, THEN AMPLIFY THIS WORK THROUGH PUBLICATIONS, MULTIMEDIA, AND THE YOUNG SCHOLARS INITIATIVE (YSI).

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $43,793
Program Service Revenue $0
Investment Income $365,227
Other Revenue $20,606
TOTAL REVENUE $429,626

Expense Breakdown

Grants Paid $474,371
Salaries & Benefits $2,221,900
Fundraising Expenses $615,249
Program Expenses $4,403,464
Other Expenses $3,107,160
TOTAL EXPENSES $5,803,431

Year-over-Year Comparison

2024 2023 Change
Revenue $429,626 $753,427 -0.4%
Expenses $5,803,431 $5,988,488 0.0%
Net Income $-5,373,805 $-5,235,061 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
9
Employees
12
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$590,245
Total Directors
11
$603,935
Key Employees
2
$419,259
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT JOHNSON PRESIDENT 40.00
Officer Director
$446,177 $75,258 $521,435
ROHINTON MEDHORA DIRECTOR 1.00
Director
$0 $0 $0
SARAH ABELL DIRECTOR 1.00
Director
$0 $0 $0
GAURAV DALMIA DIRECTOR 1.00
Director
$0 $0 $0
JAMES DAVES MANAGING DIRECTOR, GOVERNING BOARD 20.00
Director
$82,500 $0 $82,500
NEVA GOODWIN DIRECTOR 1.00
Director
$0 $0 $0
ANATOLE KALETSKY DIRECTOR 1.00
Director
$0 $0 $0
DRUMMOND PIKE DIRECTOR 1.00
Director
$0 $0 $0
JOHN A POWELL DIRECTOR 1.00
Director
$0 $0 $0
GILLIAN TETT DIRECTOR 1.00
Director
$0 $0 $0
RICHARD VAGUE DIRECTOR 1.00
Director
$0 $0 $0
JASON SHURE CFO, THRU JUNE 2024 40.00
Officer
$49,709 $19,101 $68,810
DONNA FOLKERTS CHIEF ADMIN OFFICER 40.00
Key Emp
$193,665 $12,162 $205,827
MATTHEW KULVICKI DIRECTOR OF FILM AND VIDEO 40.00
Key Emp
$189,253 $24,179 $213,432
ALBERT T FERGUSON DIRECTOR OF RESEARCH 40.00
Highest
$130,000 $4,514 $134,514
HESKE VAN DOONEN DIRECTOR YOUNG SCHOLARS 40.00
Highest
$120,292 $44,521 $164,813
AUDRA AUCOIN GRANTS MANAGER 40.00
Highest
$112,997 $40,837 $153,834
PIA MALANEY ASSOC. REASEARCH DIRECTOR 40.00
Highest
$106,406 $55,989 $162,395
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $429,626 $5,803,431 $9,916,689 $-5,373,805
2023 $753,427 $5,988,488 $15,497,843 $-5,235,061
2022 $1,256,577 $7,206,840 $21,303,856 $-5,950,263
2021 $24,831,883 $7,232,289 $26,645,757 $17,599,594
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