Nonprofit · EIN 27-1916040
THE INSTITUTE FOR NEW ECONOMIC THINKING INC
Tax-exempt · NEW YORK, NY 10165
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $429,626 | $5,803,431 | -$5,373,805 | $9,916,689 | $1,057,312 | $8,859,377 |
| December 31, 2023 | 990 | $753,427 | $5,988,488 | -$5,235,061 | $15,497,843 | $1,475,131 | $14,022,712 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $43,793
- Program service revenue
- $0
- Investment income
- $365,227
- Royalties
- $1,417
- Net rental income
- $9,000
- Other revenue
- $20,606
Expenses
- Grants and similar amounts paid
- $474,371
- Compensation of officers, directors and key employees
- $1,092,005
- Other salaries and wages
- $787,049
- Salaries, compensation and benefits (total)
- $2,221,900
- Professional fundraising fees
- $0
- Legal fees
- $23,153
- Accounting fees
- $40,500
- Occupancy
- $217,892
- Travel
- $20,044
- Depreciation
- $171,522
- Program services (functional)
- $4,403,464
- Management and general (functional)
- $784,718
- Fundraising (functional)
- $615,249
Balance sheet and other
- Total assets, start of year
- $15,497,843
- Total assets, end of year
- $9,916,689
- Total liabilities, end of year
- $1,057,312
- Net assets, end of year
- $8,859,377
- Land, buildings and equipment
- $58,396
- Publicly traded securities
- $6,211,596
- Net assets without donor restrictions
- $8,668,410
- Net assets with donor restrictions
- $190,967
- Gross receipts
- $429,626
- Employees
- 12
- Volunteers
- 10
- Year formed
- 2010
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBERT JOHNSON | PRESIDENT Trustee or director, Officer | 40 | $446,177 | $75,258 |
| MATTHEW KULVICKI | DIRECTOR OF FILM AND VIDEO Key employee | 40 | $189,253 | $24,179 |
| DONNA FOLKERTS | CHIEF ADMIN OFFICER Key employee | 40 | $193,665 | $12,162 |
| HESKE VAN DOONEN | DIRECTOR YOUNG SCHOLARS Highest-paid employee | 40 | $120,292 | $44,521 |
| PIA MALANEY | ASSOC. REASEARCH DIRECTOR Highest-paid employee | 40 | $106,406 | $55,989 |
| AUDRA AUCOIN | GRANTS MANAGER Highest-paid employee | 40 | $112,997 | $40,837 |
| ALBERT T FERGUSON | DIRECTOR OF RESEARCH Highest-paid employee | 40 | $130,000 | $4,514 |
| JAMES DAVES | MANAGING DIRECTOR, GOVERNING BOARD Trustee or director | 20 | $82,500 | $0 |
| JASON SHURE | CFO, THRU JUNE 2024 Officer | 40 | $49,709 | $19,101 |
| ROHINTON MEDHORA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARAH ABELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GAURAV DALMIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEVA GOODWIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANATOLE KALETSKY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DRUMMOND PIKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN A POWELL | DIRECTOR Trustee or director | 1 | $0 |
| GILLIAN TETT | DIRECTOR Trustee or director | 1 | $0 |
| RICHARD VAGUE | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBERT JOHNSON | PRESIDENT Trustee or director, Officer | 40 | $445,763 | $73,246 |
| JASON SHURE | CFO/SECRETARY Officer | 40 | $196,504 | $42,065 |
| DONNA FOLKERTS | CHIEF ADMIN OFFICER Key employee | 40 | $194,806 | $34,416 |
| MATTHEW KULVICKI | DIRECTOR OF FILM AND VIDEO Highest-paid employee | 40 | $189,120 | $27,190 |
| RAMON CONTRERAS | HEAD OF SPECIAL POJECTS Highest-paid employee | 40 | $158,240 | $42,407 |
| JAY POCKLINGTON | DIRECTOR YOUNG SCHOLARS Highest-paid employee | 40 | $126,750 | $24,228 |
| ALBERT T FERGUSON | DIRECTOR OF RESEARCH Highest-paid employee | 40 | $130,000 | $7,352 |
| BERNHARD WILPERT | COMM. & DEV. CONSULTANT Highest-paid employee | 40 | $120,000 | $8,788 |
| ROHINTON MEDHORA | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| CLIVE COWDERY | DIRECTOR, THRU 4/4/23 Trustee or director | 0.25 | $0 | $0 |
| GAURAV DALMIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMIE DAVES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEVA GOODWIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM JANEWAY | DIRECTOR, THRU 10/11/23 Trustee or director | 1 | $0 | $0 |
| ANATOLE KALETSKY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DRUMMOND PIKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN A POWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GILLIAN TETT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD VAGUE | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 60 E 42ND ST STE 1800, NEW YORK, NY 10165-6208
- Principal officer (990 for 2024)
- ROBERT JOHNSON, 60 E 42ND STREET 450, NEW YORK, NY 10165
- Signed the 990
- ROBERT JOHNSON, PRESIDENT
- Phone
- (646) 751-4900
- Website
- WWW.INETECONOMICS.ORG
- Return prepared by
- PKF O'CONNOR DAVIES ADVISORY LLC
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 accomplishments
- 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.Expenses $1,528,039 · grants $105,982
- 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.Expenses $868,146 · grants $367,998
- 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).Expenses $834,179 · grants $391
- 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.Expenses $1,173,100
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-1916040
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Social science (V22)
- Assets (IRS master file)
- $9,916,689
- Income (IRS master file)
- $429,626
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $429,626 | $5,803,431 | $9,916,689 | XML |
| 990 | December 2023 | $753,427 | $5,988,488 | $15,497,843 | XML |
| 990 | December 2022 | $1,256,577 | $7,206,840 | $21,303,856 | IRS |
| 990 | December 2021 | $24,831,883 | $7,232,289 | $26,645,757 | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-1916040).
Questions about THE INSTITUTE FOR NEW ECONOMIC THINKING INC
- What is the EIN of THE INSTITUTE FOR NEW ECONOMIC THINKING INC?
- The employer identification number (EIN) of THE INSTITUTE FOR NEW ECONOMIC THINKING INC is 27-1916040.
- Is THE INSTITUTE FOR NEW ECONOMIC THINKING INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to THE INSTITUTE FOR NEW ECONOMIC THINKING INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE INSTITUTE FOR NEW ECONOMIC THINKING INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE INSTITUTE FOR NEW ECONOMIC THINKING INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE INSTITUTE FOR NEW ECONOMIC THINKING INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE INSTITUTE FOR NEW ECONOMIC THINKING INC?
- The 990 for the year ended December 31, 2024 names ROBERT JOHNSON.
- Who are the officers and directors of THE INSTITUTE FOR NEW ECONOMIC THINKING INC?
- The 990 for the year ended December 31, 2024 lists 18 people; 9 received compensation from the organization, the highest $446,177 (ROBERT JOHNSON, PRESIDENT).
- How much revenue does THE INSTITUTE FOR NEW ECONOMIC THINKING INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $429,626, expenses of $5,803,431 and total assets of $9,916,689 at year end.
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