Center for a New Economy Inc

Nonprofit profile at a glance

EIN
660566096
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
San Juan, PR, USA
Phone
7876221120
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$2,005,504
Expenses
$2,024,337
Assets
$3,822,547
Liabilities
$1,161,170

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • MIGUEL SOTO-CLASS (PRESIDENT)
  • NURIA ORTIZ (EXECUTIVE DIRECTOR, SECRETARY)

Highest reported compensation

  • MIGUEL SOTO-CLASS (PRESIDENT): $259,820 total reported compensation
  • SERGIO MARXUACH (POLICY DIRECTOR, ASSISTANT SECRETARY): $160,600 total reported compensation
  • ROSANNA TORRES PIZARRO (DIRECTOR OF THE WASHINGTON DC OFFICE): $128,633 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See part i, line 1 schedule o disclosure

What it reported doing in 2024

In 2024, cne continued to lead efforts to improve the socioeconomic well-being of puerto rico through independent, evidence-based research and forward-looking policy analysis. Our work focused on critical areas including energy access and reliability, poverty alleviation, food security, industrial policy, and the effective design and delivery of federal programs. Among our key contributions, cne produced a comprehensive review of the u.s. Department of energy's study on puerto rico's electric grid, which was widely disseminated to inform public understanding and support informed policymaking on grid modernization. We also published a landmark policy paper advocating for a modern industrial policy tailored to puerto rico's economic realities, and released an in-depth summary of the many complex and overlapping initiatives reshaping the island's energy sector. In partnership with the finra foundation, cne published a major report on the financial capability of individuals and households in puerto rico, shedding light on critical challenges and opportunities for local residents. These publications received broad media coverage and contributed meaningfully to public dialogue and policy debates. Throughout the year, our work was consistently shared through newsletters, media outlets, and public forums-reinforcing cne's role as a trusted, nonpartisan source of knowledge and analysis dedicated to the island's long-term development.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 81
  • Accountability: 95
  • Sustainability: 36
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.3%; rating input score 77
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: $13.52 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.9%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.89; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 48.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -16.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -16.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 77.3% of revenue deployed · 76.2% of spending went to programs
  • Governance: 10 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $260K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.