2025-11-17T15:27:55-06:00 2024-12-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 20 COMMERCE DRIVE SUITE 301 CRANFORD NJ 070163618 990 2024-01-01 271916040 THE INSTITUTE FOR NEW ECONOMIC THINKING INC INST 6467514900 60 E 42ND STREET 450 NEW YORK NY 10165 ROBERT JOHNSON PRESIDENT 6467514900 2025-11-17 1 1 GARRETT M HIGGINS P00543209 9082726200 2024 2025-03-06 01:10:19Z ROBERT JOHNSON 60 E 42ND STREET 450 NEW YORK NY 10165 429626 0 X WWW.INETECONOMICS.ORG X 2010 DE 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. 11 9 12 10 0 0 82589 43793 0 0 597165 365227 73673 20606 753427 429626 555983 474371 0 0 2582616 2221900 0 0 615249 2849889 3107160 5988488 5803431 -5235061 -5373805 15497843 9916689 1475131 1057312 14022712 8859377 X 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. 0 0 1528039 105982 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 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. 868146 367998 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 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. 834179 391 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 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). 1173100 0 0 MULTIMEDIA PRODUCTIONIN THE FILED OF VIDEO AND MULTIMEDIA, INET RELEASED 50 NEW PRODUCTIONS IN 2024 ACROSS A WIDE RANGE OF FORMATS, INCLUDING IN-DEPTH EDUCATIONAL SERIES, ANIMATED EXPLAINERS, VIDEOCASTS, AND INTERVIEWS.OTHER MAJOR PROGRAMSINET CONVENED AND PARTICIPATED IN EVENTS WITH LEADING ECONOMISTS AND STAKEHOLDERS ON TOPICS SUCH AS INNOVATION AND CAPABILITIES, PATENT LAW, ECOLOGICAL CHANGE, TECHNOLOGY AND PRIVACY, EMERGING MARKETS, AND LABOR MARKET DYNAMICS. 1173100 0 0 4403464 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 NY X X THE INSTITUTE FOR NEW ECONOMIC THINKING INC 6467514900 60 E 42ND STREET STE 450 NEW YORK NY 10165 ROBERT JOHNSON PRESIDENT 40.00 X X 446177 0 75258 ROHINTON MEDHORA DIRECTOR 1.00 X 0 0 0 SARAH ABELL DIRECTOR 1.00 X 0 0 0 GAURAV DALMIA DIRECTOR 1.00 X 0 0 0 JAMES DAVES MANAGING DIRECTOR, GOVERNING BOARD 20.00 X 82500 0 0 NEVA GOODWIN DIRECTOR 1.00 X 0 0 0 ANATOLE KALETSKY DIRECTOR 1.00 X 0 0 0 DRUMMOND PIKE DIRECTOR 1.00 X 0 0 0 JOHN A POWELL DIRECTOR 1.00 X 0 0 0 GILLIAN TETT DIRECTOR 1.00 X 0 0 0 RICHARD VAGUE DIRECTOR 1.00 X 0 0 0 JASON SHURE CFO, THRU JUNE 2024 40.00 X 49709 0 19101 DONNA FOLKERTS CHIEF ADMIN OFFICER 40.00 X 193665 0 12162 MATTHEW KULVICKI DIRECTOR OF FILM AND VIDEO 40.00 X 189253 0 24179 ALBERT T FERGUSON DIRECTOR OF RESEARCH 40.00 X 130000 0 4514 HESKE VAN DOONEN DIRECTOR YOUNG SCHOLARS 40.00 X 120292 0 44521 AUDRA AUCOIN GRANTS MANAGER 40.00 X 112997 0 40837 PIA MALANEY ASSOC. REASEARCH DIRECTOR 40.00 X 106406 0 55989 1430999 0 276561 7 0 1 0 RJS ASSOCIATES AND CONSULTANTS 362 CHARNWOOD ROAD NEW PROVIDENCE NJ 07974 FINANCIAL AND ACCOUNTING SERVICES 137240 LYNN PARRAMORE WEST 20TH STREET NEW YORK NY 10011 EDITING SERVICES 133200 SHARMINI PERIES 17 YARMOUTH GARDENS TORONTO ONTARIO CA M6G 1W3 PROFESSIONAL CONSULTING SERVICES 130799 3 43793 43793 365227 365227 1417 1417 9000 0 9000 9000 9000 FSA FORFEITURES 900099 10189 10189 10189 429626 0 0 385833 X 219497 219497 22000 22000 232874 232874 1092005 555210 235430 301365 787049 704096 82953 18194 17172 1022 193869 149439 36153 8277 130783 94521 23151 13111 23153 4899 17103 1151 40500 40500 1003533 637471 174197 191865 65304 65304 97920 57689 35836 4395 133516 86868 34963 11685 217892 157126 39269 21497 20044 11965 8079 1056270 1004662 16773 34835 782 782 171522 124251 31100 16171 38855 20673 15422 2760 VIDEO PRODUCTION/OUTREA 224017 224017 OTHER PROGRAM EXPENSES 12000 12000 MISCELLANEOUS EXPENSES 1852 1730 64 58 5803431 4403464 784718 615249 331811 142426 13760229 2566792 573310 390967 490 921 28834 112267 3158458 3100062 179343 58396 0 6211596 623826 433324 15497843 9916689 233025 107695 558739 515188 700 0 682667 434429 1475131 1057312 X 13649402 8668410 373310 190967 14022712 8859377 15497843 9916689 X -5373805 182869 27601 X X 0 1 X 1 0 X 2138635 1310335 1147721 82589 43793 4723073 2138635 1310335 1147721 82589 43793 4723073 1478086 3244987 6722 12266 102007 605565 375644 1102204 207042 9282 6849 65273 10189 298635 6123912 0.52990 0.64750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 526157 518760 7397 549285 540737 8548 2083016 2040565 42451 58396 OPERATING LEASE OBLIGATION 380248 PAYCHECK PROTECTION PROGRAM LOAN PAYABLE 54181 434429 602306 182869 182869 419437 10189 10189 429626 5765641 0 5765641 37790 37790 5803431 PART XI, LINE 4B - OTHER ADJUSTMENTS: FSA FORFEITURES 10,189. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT REFUNDS 27,601. FLEXIBLE SPENDING FORFEITURE 10,189. 1 NORTH AMERICA 0 1 PROFESSIONAL CONSULTING SERVICES 130799 EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 GRANT, HONORAIA, SPONSORSHIP 104181 SOUTH AMERICA 0 0 GRANT AND EVENT SPONSORSHIP 72730 SUB-SAHARAN AFRICA 0 0 EVENT SPONSORSHIP 34490 SOUTH & EAST ASIA AND THE PACIFIC 0 0 EVENT SPONSORSHIP 18923 MIDDLE EAST AND NORTH AFRICA 0 0 EVENT SPONSORSHIP 2200 NORTH AMERICA 0 0 HONORAIA 350 0 2 0 0 0 2 363673 0 363673 CENTRAL AMERICA AND THE CARIBBEAN ECONOMICS OF THE CLIMATE TRANSITION 50000 WIRE 0 EUROPE PLURALIST CERTIFICATE 49500 WIRE 0 EUROPE GLOBALIZATION MEETS AUSTERITY 10121 WIRE 0 EUROPE SUMMIT 8000 WIRE 0 4 0 GRANT/HONORARIA/YSI EVENT GRANT/PROJECT SPONSORSHIP EUROPE 10 25560 WIRE PROJECT GRANT SUB-SAHARAN AFRICA 17 25490 WIRE EVENT GRANT SOUTH AMERICA 8 22730 WIRE YSI EVENT GRANT/PROJECT SPONSORSHIP EAST ASIA AND THE PACIFIC 4 9990 WIRE YSI EVENT GRANT/PROJECT SPONSORSHIP SOUTH ASIA 5 8933 WIRE YSI EVENT GRANT/PROJECT SPONSORSHIP MIDDLE EAST AND NORTH AFRICA 1 2200 WIRE HONORAIA NORTH AMERICA 1 350 WIRE 0 0 0 0 0 0 PART I, LINE 2: THE INSTITUTE FOR NEW ECONOMIC THINKING MONITORS THE USE OF FUNDS BY REQUESTING AND REVIEWING GRANTEE REPORTS PRIOR TO CLOSING THE GRANT. THE NORMAL SCHEDULE FOR SUCH REPORTS IN EVERY SIX MONTHS, IN ADVANCE OF PROGRESS PAYMENTS. TYPICALLY, THESE REPORTS INCLUDE DETAILED FINANCIAL REPORTING ALONG WITH NARRATIVES THAT FURTHER SUPPORT THE SPENDING. INET ALSO COMMUNICATES EXTENSIVELY WITH GRANT MANAGERS TO PROACTIVELY ADDRESS ANY QUESTIONS IN SPENDING OR DIVERSIONS FROM BUDGET. ANY USE FUNDS FOR LOBBYING IS STRICTLY PROHIBITED IN THE GRANT AGREEMENTS. OUR GRANT SELECTION PROCESS IS BY INVITATION ONLY. THE GOVERNING BOARD, INET PRESIDENT AND RESEARCH DIRECTOR ALL HAVE DISCRETION OVER GRANTS. ADDITIONALLY, THE RESEARCH DIRECTOR SOLICITS INPUT FROM THE ACADEMIC COUNCIL. PROPOSALS MUST FIT WITHIN THE INET AREAS OF FOCUS, HAVE LIMITED ADMINISTRATIVE COSTS, BE LED BY PRIMARY INVESTIGATORS CAPABLE OF DOING THE WORK, AND HAVE IMPACT ON FUNDAMENTAL ISSUES IN ECONOMICS. MAJOR PROPOSALS ARE REVIEWED BY THE BOARD, GENERALLY DURING ACTUAL MEETINGS. PART I, LINE 3: THE METHOD USED TO ACCOUNT FOR EXPENDITURES IS BASED ON THE ACCRUAL BASIS. 1 THE ACADEMIC-INDUSTRY RESEARCH NETWORK 12 NEWPORT ROAD CAMBRIDGE MA 02140 274126652 501(C)(3) 149997 0 INNOVATION AND FINANCIALIZATION IN THE EV INDUSTRY, PARTICULARLY FOCUSED ON BATTERIES UNIVERSITY OF UTAH 260 S CENTRAL CAMPUS DRIVE SALT LAKE CITY UT 84112 876000525 501(C)(3) 69500 0 THE CONSUMER WELFARE STANDARD: AN ASPIRATIONAL OBITUARY 2 0 GRANT/PROJECT SPONSORSHIP 2 21500 HONORARIA 1 500 PART I, LINE 2: THE INSTITUTE FOR NEW ECONOMIC THINKING MONITORS THE USE OF FUNDS BY REQUESTING AND REVIEWING GRANTEE REPORTS PRIOR TO CLOSING THE GRANT. THE NORMAL SCHEDULE FOR SUCH REPORTS IN EVERY SIX MONTHS, IN ADVANCE OF PROGRESS PAYMENTS. TYPICALLY, THESE REPORTS INCLUDE DETAILED FINANCIAL REPORTING ALONG WITH NARRATIVES THAT FURTHER SUPPORT THE SPENDING. INET ALSO COMMUNICATES EXTENSIVELY WITH GRANT MANAGERS TO PROACTIVELY ADDRESS ANY QUESTIONS IN SPENDING OR DIVERSIONS FROM BUDGET. OUR GRANT SELECTION PROCESS IS BY INVITATION ONLY. THE GOVERNING BOARD, INET PRESIDENT AND RESEARCH DIRECTOR ALL HAVE DISCRETION OVER GRANTS. ADDITIONALLY, THE RESEARCH DIRECTOR SOLICITS INPUT FROM THE ACADEMIC COUNCIL. PROPOSALS MUST FIT WITHIN THE INET AREAS OF FOCUS, HAVE LIMITED ADMINISTRATIVE COSTS, BE LED BY PRIMARY INVESTIGATORS CAPABLE OF DOING THE WORK, AND HAVE IMPACT ON FUNDAMENTAL ISSUES IN ECONOMICS. ALL PROPOSALS ARE REVIEWED BY THE BOARD, GENERALLY DURING ACTUAL MEETINGS. X 0 0 0 0 0 0 0 0 0 ROBERT JOHNSON PRESIDENT 446177 0 0 0 0 0 10350 0 64908 0 521435 0 0 0 MATTHEW KULVICKI DIRECTOR OF FILM AND VIDEO 189253 0 0 0 0 0 5700 0 18479 0 213432 0 0 0 DONNA FOLKERTS CHIEF ADMIN OFFICER 193665 0 0 0 0 0 6000 0 6162 0 205827 0 0 0 HESKE VAN DOONEN DIRECTOR YOUNG SCHOLARS 120292 0 0 0 0 0 3750 0 40771 0 164813 0 0 0 PIA MALANEY ASSOC. REASEARCH DIRECTOR 106406 0 0 0 0 0 3300 0 52689 0 162395 0 0 0 AUDRA AUCOIN GRANTS MANAGER 112997 0 0 0 0 0 3390 0 37447 0 153834 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 RJS ASSOCIATES AND CONSULTANTS LLC PROVIDES MANAGEMENT SERVICES TO THE ORGANIZATION, INCLUDING STRATEGIC OVERSIGHT, FINANCIAL MANAGEMENT, AND ORGANIZATIONAL GUIDANCE UNDER A CONTRACTUAL AGREEMENT. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED IT IS REVIEWED BY MANAGEMENT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. A COPY IS PROVIDED TO THE BOARD AFTER THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION OWE A DUTY OF LOYALTY TO THE ORGANIZATION WHICH REQUIRES THAT IN SERVING THE ORGANIZATION THEY ACT, NOT IN THEIR PERSONAL INTERESTS OR IN THE INTERESTS OF OTHERS, BUT RATHER SOLELY IN THE INTERESTS OF THE ORGANIZATION. A CONFLICT OF INTEREST MAY ARISE WHEN A PERSON HAS AN EXISTING OR POTENTIAL FINANCIAL INTEREST OR OTHER MATERIAL INTEREST THAT IMPAIRS, OR MIGHT APPEAR TO IMPAIR HIS OR HER INDEPENDENCE OR OBJECTIVITY IN THE DISCHARGE OF RESPONSIBILITIES AND DUTIES TO THE ORGANIZATION. EACH DIRECTOR, OFFICER AND KEY EMPLOYEE OF THE ORGANIZATION SHALL PROMPTLY DISCLOSE ANY DIRECT OR INDIRECT FINANCIAL OR OTHER MATERIAL INTEREST WHICH HE OR SHE HAS OR REASONABLY EXPECTS TO HAVE IN ANY PROPOSED OR EXISTING ARRANGEMENT WITH THE ORGANIZATION PRIOR TO THE START OF ANY NEGOTIATIONS WITH RESPECT TO SUCH MATTER. A DIRECT OR INDIRECT FINANCIAL INTEREST REQUIRED TO BE DISCLOSED UNDER THIS POLICY SHALL BE DISCLOSED IN WRITING TO THE BOARD OF DIRECTORS. SUCH DISCLOSURE SHALL INCLUDE ALL MATERIAL FACTS AND SUPPLY ANY REASONS WHY THE ARRANGEMENT MIGHT BE OR NOT BE IN THE BEST INTEREST OF THE ORGANIZATION. EACH YEAR, EACH DIRECTOR, OFFICER, KEY EMPLOYEE AND MEMBER OF THE ACADEMIC COUNCIL SHALL ACKNOWLEDGE HIS OR HER FAMILIARITY WITH THIS POLICY AND (I) EACH DIRECTOR, OFFICER AND KEY EMPLOYEE SHALL DISCLOSE IN WRITING TO THE BOARD OF DIRECTORS ANY EXISTING DIRECT OR INDIRECT FINANCIAL OR OTHER MATERIAL INTEREST OR GRANTMAKING INTEREST SUBJECT TO THIS POLICY AND (II) EACH MEMBER OF THE ACADEMIC COUNCIL SHALL DISCLOSE ANY GRANTMAKING INTEREST SUBJECT TO THIS POLICY, BY COMPLETING THE ATTACHED CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS SHALL BE REVIEWED BY THE BOARD OF DIRECTORS. THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS SHALL BE RETAINED IN THE CONFIDENTIAL FILES OF THE PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES THE COMPENSATION FOR THE CEO, OFFICERS, AND KEY EMPLOYEES. IN 2022 A DECISION WAS REACHED TO INITIATE A LAYOFF AND TO REDUCE COMPENSATION ACROSS TO KEY EMPLOYEES TO PRESERVE THE ORGANIZATIONS CASH. THIS IS DOCUMENTED IN THE NOVEMEBER 3, 2022 ORGANIZATIONS BOARD MINUTES. THE ORGANIZATION DOES NOT PROVIDE ANNUAL PAY INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 433,752. MANAGEMENT AND GENERAL EXPENSES 150,682. FUNDRAISING EXPENSES 42,333. TOTAL EXPENSES 626,767. PAYROLL SERVICES: PROGRAM SERVICE EXPENSES 22,668. MANAGEMENT AND GENERAL EXPENSES 849. FUNDRAISING EXPENSES 768. TOTAL EXPENSES 24,285. RESEARCH AND TRANSLATION: PROGRAM SERVICE EXPENSES 181,051. MANAGEMENT AND GENERAL EXPENSES 22,666. FUNDRAISING EXPENSES 148,764. TOTAL EXPENSES 352,481. FORM 990, PART XI, LINE 9: GRANT REFUNDS 27,601. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF INET FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT FOR THIS PROCESS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.