New Economics for Women

Nonprofit profile at a glance

EIN
953969029
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
2134832060
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$12,144,801
Expenses
$10,952,929
Assets
$29,745,453
Liabilities
$22,238,783

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

Leadership & pay

22 people listed

Executive titles in this filing

  • MAGDALENA CERVANTES (EXECUTIVE DIRECTOR)
  • LETICIA ANDUEZA (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • LETICIA ANDUEZA (CHIEF EXECUTIVE OFFICER): $167,500 total reported compensation
  • CONNIE JONG SOOK HWANG (FUND DEVELOPMENT DIRECTOR): $154,080 total reported compensation
  • IRMA L ALCOCER (PROGRAM DIRECTOR): $122,829 total reported compensation

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

Overview

Mission

New economics for women helps women from underserved communities in southern California pave the way to peace of mind, prosperity andpromise by providing an unrivaled level of comprehensive, personalized support, access to a continuum of resources and by building intentional communities where families receive everything they need so that they can thrive.

What it reported doing in 2024

New economics for women (new) empowers under-resourced women and their families to achieve economic mobility through integrated housing, education, entrepreneurship, and wealth-building programs. New develops and operates affordable housing for both multifamily rentals and single-family homes and community centered services that helped more than 2,300 individuals remain stably housed and advanced new workforce and permanent affordable housing units in specifically reseda and el sereno. Through its homeownership department, a hud-approved counseling agency, new delivers free hud-certified homebuyer education, one-on-one counseling, and credit coaching, educating at least 400 individuals annually and assisting dozens of families in purchasing homes. New's familysource center and economic mobility centers provide one-stop services for low-income residents, including financial education and coaching, vita tax preparation, public benefits screening, case management, employment coaching, emergency financial assistance, and homeless prevention that helped increase household income, and keep families housed. The learning center operates after-school and seasonal programs for tk5 students, providing homework help, enrichment in arts and stem, meals, and family workshops to support academic achievement. Through its women's business centers and the east los angeles businesssource center, new provides no-cost one-on-one consulting, training, and financing assistance that served thousands of small businesses, helped launch new enterprises, and supported or created thousands of local jobs.

Operating model

Revenue model
Grant-funded. 75% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 95% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 57
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.8%; rating input score 73
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $34.99 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.8%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 72.8% of revenue deployed · 80.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.8M in reported program spending
  • Leadership: top reported pay $168K · 22 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $274K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.