CENTER FOR A NEW ECONOMY INC Charity Report

Public IRS 990 nonprofit record

CENTER FOR A NEW ECONOMY INC

EIN 66-0566096 · Educational Services (B90)

What they do

THE CENTER for A NEW ECONOMY (CNE) is PUERTO RICOS FIRST and FOREMOST POLICY THINK TANK, AN INDEPENDENT, NONPARTISAN GROUP THAT ADVOCATES for THE DEVELOPMENT of A NEW ECONOMY for PUERTO RICO. WE SEEK to INFORM CURRENT POLICY DEBATES and FIND SOLUTIONS to TODAYS MOST PRESSING and COMPLEX ECONOMIC DEVELOPMENT PROBLEMS BY RIGOROUSLY ANALYZING HARD DATA and PRODUCING ROBUST EMPIRICAL RESEARCH.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $76.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders17 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

76.97%of revenue went to mission work76.2% of expenses · Program services

7.28%of revenue went to fundraising7.2% of expenses

$100.94spent for every $100 of revenueSpending was higher than revenue this year.

16.69%of revenue went to management and office costs16.5% of expenses

$1.89in assets for every $1 spent this yearSome assets cannot be spent right away.

98.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $18,833 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $259,820 for MIGUEL SOTO-CLASS (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,005,504

Mission workProgram services$1,543,55576.97% of revenue76.2% of expenses

ManagementOffice and general costs$334,81816.69% of revenue16.5% of expenses

FundraisingAsking for donations$145,9647.28% of revenue7.2% of expenses

Total expenses$2,024,337100.94% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 76.2% mission · 16.5% management · 7.2% fundraisingTotal expenses: 100.94% of revenue

2023Expense mix: 74.4% mission · 18.5% management · 7.0% fundraisingTotal expenses: 100.36% of revenue

2022Expense mix: 77.8% mission · 15.4% management · 6.9% fundraisingTotal expenses: 120.86% of revenue

2021Expense mix: 79.4% mission · 13.4% management · 7.2% fundraisingTotal expenses: 107.81% of revenue

2020Expense mix: 71.1% mission · 20.6% management · 8.3% fundraisingTotal expenses: 112.82% of revenue

2018Expense mix: 82.3% mission · 14.5% management · 3.2% fundraisingTotal expenses: 83.34% of revenue

2017Expense mix: 88.4% mission · 5.5% management · 6.1% fundraisingTotal expenses: 94.86% of revenue

2016Expense mix: 71.0% mission · 14.1% management · 14.9% fundraisingTotal expenses: 101.35% of revenue

Money in and money out

Revenue$2,005,504

Expenses$2,024,337

Annual shortfall $18,833 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,543,555 · 76.2% of expenses

Management and office costs$334,818 · 16.5% of expenses

Fundraising$145,964 · 7.2% of expenses

See all reported dollar amounts

Revenue$2,005,504

Expenses$2,024,337

Assets$3,822,547

Income$2,005,504

Contributions$1,974,160

Mission work (program services)$1,543,555

Fundraising$145,964

Grants given$1,553,260

Average grant$53,561

Management and general$334,818

Executive compensation (total)$414,425

Stocks and bonds$3,351,593

Accounting fees$48,815

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

MIGUEL SOTO-CLASSPRESIDENT · 40 hrs/week $259,820Base $244,100 · Other $15,720

SERGIO MARXUACHPOLICY DIRECTOR, ASSISTANT SECRETARY · 40 hrs/week $160,600

ROSANNA TORRES PIZARRODIRECTOR OF THE WASHINGTON DC OFFICE · 40 hrs/week $128,633

CARMEN VARGAS NINFINANCE & ADMIN DIRECTOR, TREASURER · 40 hrs/week $111,809Base $98,600 · Other $13,209

NYDIA SUAREZ MARINPUBLIC AFFAIRS DIRECTOR · 40 hrs/week $109,873Base $102,100 · Other $7,773

NURIA ORTIZEXECUTIVE DIRECTOR, SECRETARY · 40 hrs/week $105,100

ENRIQUE FIGUEROA GRILLASCARESEARCH ASSOCIATE · 40 hrs/week $100,300

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (17)

MIGUEL SOTO-CLASSPRESIDENT

SERGIO MARXUACHPOLICY DIRECTOR, ASSISTANT SECRETARY

ROSANNA TORRES PIZARRODIRECTOR OF THE WASHINGTON DC OFFICE

CARMEN VARGAS NINFINANCE & ADMIN DIRECTOR, TREASURER

NYDIA SUAREZ MARINPUBLIC AFFAIRS DIRECTOR

NURIA ORTIZEXECUTIVE DIRECTOR, SECRETARY

ENRIQUE FIGUEROA GRILLASCARESEARCH ASSOCIATE

ELIZABETH CAREY BURWELLDIRECTOR

ENRIQUE VILA BIAGGIBOARD CHAIR

JACQUES CHAPPUISDIRECTOR

JOAQUIN BACARDIDIRECTOR

JORGE COLON GERENADIRECTOR

LUIS SILVADIRECTOR

EDWIN J PEREZDIRECTOR

PINSY RIVERADIRECTOR

CAROLINE MCCONNIEDIRECTOR

ANTONIO L FERRE RANGELDIRECTOR

About this charity

Recognized since: January 2000
Location: PO BOX 9024240, SAN JUAN, PR 00902-4240
In care of: % MIGUEL A SOTO
Primary officer: ROSANNA TORRES PIZARRO, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Emailinfo@grupocne.org Phone(787) 622-1120

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: LANE & COMPANY CPAS
NTEE classification: Educational Services (B90)
IRS tax category: Educational Services
Grant-giving organization: Yes