NEW GROWTH INNOVATION NETWORK

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

M YASMINA MCCARTY

Phone

3053998087

Tax Period

2024-01-01 to 2024-12-31

NEW GROWTH INNOVATION NETWORK, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $6.2M in total revenue in fiscal year 2024. Revenue surged 238% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 29% operating margin.

Mission

TO BUILD A ROBUST FIELD OF INCLUSIVE GROWTH PRACTICE THAT DRIVES A MORE INCLUSIVE, PROSPEROUS ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $3,818,880

NEW GROWTH INNOVATION NETWORK (NGIN) IS A NATIONAL NONPROFIT THAT EQUIPS ECONOMIC, COMMUNITY, AND GOVERNMENT LEADERS WITH INSIGHTS, INNOVATIONS, CAPITAL, AND LOCALIZED SUPPORT TO ENSURE THAT...

NEW GROWTH INNOVATION NETWORK (NGIN) IS A NATIONAL NONPROFIT THAT EQUIPS ECONOMIC, COMMUNITY, AND GOVERNMENT LEADERS WITH INSIGHTS, INNOVATIONS, CAPITAL, AND LOCALIZED SUPPORT TO ENSURE THAT ECONOMICALLY EXCLUDED COMMUNITIES CAN LEAD, SHAPE, AND BENEFIT FROM REGIONAL ECONOMIC GROWTH. IN 2024, NGIN SERVED LEADERS FROM 786 ORGANIZATIONS ACROSS 40 U.S. STATES. NGIN AND ITS PARTNERS TRAINED 141 ORGANIZATIONS AND PROVIDED TECHNICAL ASSISTANCE 37 ECONOMIC DEVELOPMENT ORGANIZATIONS AND 35 COMMUNITY-BASED ORGANIZATIONS IN 24 DIFFERENT CITIES ACROSS THE U.S., HAWAII, AND PUERTO RICO. ADDITIONALLY, NGIN'S ADVANCING ECONOMIC MOBILITY PROGRAM TRAINED 22 ORGANIZATIONS AND PROVIDED TECHNICAL ASSISTANCE AND SUPPORT TO 10 COMMUNITIES. NGIN LAUNCHED ITS CAPITAL SUPPORT PROGRAM AND A SERIES OF THOUGHT LEADERSHIP INSIGHT PIECES. FINALLY, NGIN HOSTED ITS BIENNIAL FLAGSHIP CITYSCAPES SUMMIT IN DURHAM, NC, BRINGING TOGETHER OVER 350 CITY LEADERS WITH A MISSION TO "IGNITE INCLUSIVE ECONOMIES".

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,433,969

Program Service Revenue $0

Investment Income $0

Other Revenue $-231,604

TOTAL REVENUE $6,202,365

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,918,579

Fundraising Expenses $0

Program Expenses $3,818,880

Other Expenses $2,513,129

TOTAL EXPENSES $4,431,708

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,202,365	$1,835,314	+2.4%
Expenses	$4,431,708	$2,749,469	+0.6%
Net Income	$1,770,657	$-914,155	-2.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$222,933

Total Directors

Key Employees

$175,326

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAURICE JONES	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN LEE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID WARM	DIRECTOR	2.00	Director	$0	$0	$0
RODRICK MILLER	DIRECTOR	2.00	Director	$0	$0	$0
CATHY BELK	DIRECTOR	1.00	Director	$0	$0	$0
BETSY BIEMANN	DIRECTOR	1.00	Director	$0	$0	$0
PAUL BROPHY	DIRECTOR	2.00	Director	$0	$0	$0
TIM FERGUSON	DIRECTOR	2.00	Director	$0	$0	$0
JOHN IRONS	DIRECTOR	2.00	Director	$0	$0	$0
PAT O'BRIEN	DIRECTOR	2.00	Director	$0	$0	$0
RANDAL PINKETT	DIRECTOR	2.00	Director	$0	$0	$0
LYNEIR RICHARDSON	DIRECTOR	2.00	Director	$0	$0	$0
MARLENE SELTZER	DIRECTOR	2.00	Director	$0	$0	$0
ANNE EVENS	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT WEISSBOURD	DIRECTOR	2.00	Director	$0	$0	$0
ERICKA SETH DAVIES	DIRECTOR	2.00	Director	$0	$0	$0
BOBBY LEE	DIRECTOR	2.00	Director	$0	$0	$0
CHINWE ONYEAGORO	DIRECTOR	2.00	Director	$0	$0	$0
M YASMINA MCCARTY	CEO AND PRESIDENT	40.00	Officer	$222,933	$0	$222,933
SWATI GHOSH	VICE PRESIDENT, INSIGHTS A	40.00	Key Emp	$175,326	$0	$175,326

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	$6,202,365	$4,431,708	$5,162,212	$1,770,657
2023	$1,835,314	$2,749,469	$2,746,301	$-914,155
2022	$4,225,478	$1,356,949	$3,511,444	$2,868,529
2021	$838,917	$828,764	$626,640	$10,153
2020	$709,204	$306,717	$616,603	$402,487
2019	$913,250	$596,073	$374,875	$317,177