2024-12-18T17:13:28-06:00 2023-06-30 954557617 Harrington Group CPAs LLP 2698 Mataro Street Pasadena CA 91107 990 2022-07-01 953969029 New Economics for Women NEWE 2134832060 303 South Loma Drive Los Angeles CA 90017 Leticia Andueza CEO 2134832060 2024-12-18 1 1 Oswaldo D Torres CPA P02465082 6264036801 2022 2024-10-15 13:58:12Z Leticia Andueza 303 South Loma Drive Los Angeles CA 90017 10445467 0 X www.neweconomicsforwomen.org X 1984 CA To empower generations of under-resourced women and their families to thrive. 9 8 113 77 0 0 11674571 9253748 824139 1082669 90185 102372 35479 6678 12624374 10445467 897436 833179 0 0 5154509 6093817 0 6000 141584 4708829 5491090 10760774 12424086 1863600 -1978619 48885489 58697263 33850516 44594679 15034973 14102584 X A world where generations of women and their families thrive. 0 0 2718695 266313 49906 FamilySource Centers: Through NEW's two FamilySource Centers (FSCs), NEW empowers thousands of adults, youth, and children to provide access to resources to stabilize and economically empower families, and assist in their development of pathways toward economic prosperity. In partnership with the City of Los Angeles, NEW acts as the lead agency for FSCs located in the Canoga Park and Van Nuys communities of Los Angeles. At each site, NEW's partnerships with other community-based to provide low-income families with high quality services, workshops and events to enable increases to family income, housing stability, and economic mobility. Families enrolled in the FSCs can access a holistic spectrum of anti-poverty services including case management, employment services, legal services, free tax preparation, financial literacy classes, financial coaches, technology workshops and computer labs, youth leadership and college/career readiness activities, and many more. NEW's focus on behavioral economics helps to provide inroads for low-income families to achieve true upward economic mobility and sustained success over time. 1281288 6006 Women's Business Center: NEW's SBA Women's Business Center (WBC) Program helps aspiring entrepreneurs receive the motivational support, education and practical tools they need to transform their personal passion into a thriving small business. These small business upstarts work to provide economic mobility accelerators to each owner, while spurring job growth and economic stability for the employees and areas served by these powerful small businesses. WBC is part of a thriving interconnected ecosystem of services designed to spar economic mobility in families. WBC has provided thousands of participants with high quality resources for business development, both in person and virtually, with an emphasis on Spanish and Armenian language resources, due to the needs of the local community in the Canoga Park area of Los Angeles. Educational workshops led by industry professionals are offered to participants, addressing topics from finance to social media marketing to emotional resilience, and specific programs have been developed to address fashion and restaurant industries. Fast-paced innovation and strategic use of technology has become a hallmark of the WBC Program, and its marketing to women and BIPOC entrepreneurs, and responsiveness to all client needs for curriculum and event development, has made this one of NEW's most powerful tools for the economic mobility of its clients. 1321186 450 1032763 Learning Centers: NEW's Learning Centers empower students and their families to build a foundation for academic success by elevating their aspirations and equipping them with the knowledge they need to confidently succeed as students of the world. With over 220 students enrolled in the Pico-Union and Canoga Park areas of Los Angeles, NEW provides year-round personalized homework support, a rotating selection of enrichment courses, summer and winter day camps, holiday events, community clean-ups, and a broad array of specialty programs made possible through partnerships with various other organizations dedicated to academic success. Our staff empowers students to embrace their curiosity and love of learning, and gives parents the resources to actively and confidently support their children's educational goals. 4635467 560410 Real Estate Development: NEW's Real Estate Development Department performs both new construction, acquisition and rehabilitation of real estate to support NEW's creation of affordable housing, economic development spaces and to enable NEW's staff locations throughout the region. NEW's Real Estate Development Team also performs asset management functions to support NEW's operation of its portfolio of affordable housing and economic development sites, including interactions with Property Management affiliates and 3rd party companies. NEW has been actively involved in predevelopment work to support several affordable housing projects in the development pipeline, including new construction affordable housing projects Ruth Teague Apartments and Marcella Garden Apartments in South Los Angeles, and Parque Vista Apartments in Glassell Park, Los Angeles.On June 15th, 2022, New Economics for Women (NEW) signed a Microgrant Servicing Agreement with New Community Investments, LLC (NCI) wherein NEW will invest $2,000,000 of its C-GEM Program Allocation into NCI as its wholly owned lending entity and designated microgrant servicer. NCI will then create and administer a qualifying grant program to service at least 150 entrepreneurs over a two and one-half (2 1/2) year period living and operating in Los Angeles County. The $2 million grant program will be earmarked for C-GEM Program participants who meet the C-GEM Program requirements for microenterprise grantmaking. In addition to the $2 million investment under the Agreement, NEW will pay NCI a $250,000 total fee to perform all grant qualifications, applications, review, disbursement and tracking of qualified NEW C-GEM Program Participants over the next 30 months of the C-GEM Program operation. 4635467 560410 9956636 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 265 0 1 113 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X Vilma Hilario Controller - 21348 2134832060 303 S Loma Drive Los Angeles CA 90017 Beatrice Olvera Stotzer President 10.00 40.00 X X 0 149796 0 Andrew Cheng Vice President 2.00 X X 0 0 0 Belinda Barragan Secretary 2.00 X X 0 0 0 Miguel Escobar Treasurer 2.00 X X 0 0 0 Stacy Brenner Board Member 2.00 X 0 0 0 Maria L Garcia Board Member 2.00 X 0 0 0 Joan Kradin Board Member 2.00 X 0 0 0 Brianna J Mircheff Board Member (end 2/23) 2.00 X 0 0 0 Nilda Ruiz Board Member 2.00 X 0 0 0 Welton Smith Board Member 2.00 X 0 0 0 Magdalena Cervantes Executive Director 40.00 X 111490 0 18107 Leticia Andueza Associate Executive Director 40.00 X 110000 0 1100 Alicia Matricardi Director of Real Estate 40.00 X 106709 0 9531 328199 149796 28738 3 0 0 0 LHH Recruitment Solutions Dept CH 14031 Palantine IL 60055 Placement Agency 189777 AllSafe IT LLC 1601 Vine Suite 600 Los Angeles CA 90028 IT 144407 2 6101371 3152377 9253748 Rental Income 531390 688763 688763 Amortization of loan services pro 900099 330000 330000 Mgmt. & Training fees 611430 49906 49906 Parking Income 812930 14000 14000 1082669 102372 102372 Other income 900099 6678 6678 6678 10445467 1082669 0 109050 X 833179 833179 133107 133107 5077683 4916315 100359 61009 14590 14102 488 530906 524242 121 6543 337531 322404 10917 4210 49860 6600 43260 52200 10000 42200 6000 6000 1805770 1118218 628626 58926 75129 54824 20305 648981 541987 105955 1039 208940 175467 31109 2364 438922 397339 41583 68557 57397 11160 138414 81701 56713 484012 484012 343249 343249 153303 150855 1443 1005 Maintenance 323231 268783 54448 Neigh. Stabil. Program 268900 268900 Loan close out 104543 104543 Fees 91782 33063 58719 235297 181260 54037 12424086 9956636 2325866 141584 3826751 3263478 18842 18842 1849194 975628 1719705 2129041 15729097 15688416 42533 93506 19518062 4603084 9569097 14914978 7127136 8225322 9003134 13388052 48885489 58697263 987763 1070276 14669680 22408925 8501121 8448216 9691952 12667262 33850516 44594679 X 9734807 11554819 5300166 2547765 15034973 14102584 48885489 58697263 X -1978619 1046230 X 0 1 X 1 1 1 X 3654629 3693441 6803955 11674571 9253748 35080344 3654629 3693441 6803955 11674571 9253748 35080344 35080344 45860 65822 68296 90185 102372 372535 31084 35609 111949 35479 6678 220799 35673678 3712817 0.98340 0.98210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5869327 5869327 13301592 4481206 8820386 347143 121878 225265 14914978 Investments in Affiliates 7277136 C Investment in subsidiaries 948186 C 8225322 Deferred Dev. Fee 578632 Due from Affiliates 2045887 Interest receivable 9049357 ERC receivable 1137412 Other assets 89193 Right-of-use assets - operating leases 487571 13388052 Interest Payable 11000490 Security Deposits Payable 63893 Due to Affiliates 1115245 Current portion of operating lease liabilities 112655 Operating lease liabilities, net of current portion 374979 12667262 X Part X, Line 2: NEW is exempt from taxation under Internal Revenue Code Section 501(c)(3) and California Revenue and Taxation Code Section 23701d. Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by NEW in their federal and state exempt organization tax returns are more likely than not to be sustained upon examination. NEW's returns are subject to examination by federal and state taxing authorities, generally for three and four years, respectively, after they are filed. 1 Client support services 330 833179 Part I, Line 2: All participants referred for Homeless Prevention Services are assessed for program services by completing the corresponding program Targeting Tool and if they qualify for full services they may be provided emergency financial assistance. Form 990, Part VI, Section B, line 11b The Controller, Executive Director, Board Chairperson, and Audit Committee Chairperson review the Form 990; if no change is needed, the entire Board of Directors then review the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The organization conducts management meetings as needed to discuss issues within the organization that could trigger potential conflict of interest. Form 990, Part VI, Section B, line 15a The Executive Director's salary is determined by the Board of Directors based upon the Southern California Wage and Benefits survey prepared by the Center for Nonprofit Management, as well as an evaluation of education, experience, and other pertinent factors as determined by the Board to compute Executive compensation. Question l5 (b) Part VI has been answered "no" as there were no officers or key employees as defined by the IRS in Form 990 instructions that meet this criteria. Form 990, Part VI, Section C, line 19 The organization's governing documents, policies, and financial statements are available for inspection upon request at New Economics for Women's office located at 303 S. Loma Drive, Los Angeles, CA 90017. Form 990, Part IX, line 11g Professional services: Program service expenses 691,708. Management and general expenses 619,836. Fundraising expenses 56,819. Total expenses 1,368,363. Outside services: Program service expenses 271,337. Total expenses 271,337. Payroll services: Program service expenses 155,173. Management and general expenses 8,790. Fundraising expenses 2,107. Total expenses 166,070. Form 990, Part XI, line 9: Related organization eliminations 1,046,230. Form 990, Part X, Column (A): The Begining of year assets, liabilities, and net assets have been restated in order to accurately report the balance sheet of the parent organization and its respective disregarded entities from the prior reporting period. SOCOS Maintenance and Janitorial Services 303 S Loma Drive Los Angeles CA 90017 271944135 Provide maintenance services for NEW affordable housing CA 0 -136097 New Economics for Women MCB LLC 303 S Loma Drive Los Angeles CA 90017 203621096 Holding company for NSP2 Real Properties CA 0 -12601 New Economics for Women LCB Enterprises LLC 303 S Loma Drive Los Angeles CA 90017 954837278 Single purpose entity, holding company for real estate development CA 496430 1167035 New Economics for Women Aguas Claras LLC 303 S Loma Drive Los Angeles CA 90017 463691642 Single purpose entity, holding company for real estate development CA 0 2607 New Economics for Women NEW Community Investments LLC 303 S Loma Drive Los Angeles CA 90017 824456218 Make investments that lead to economic mobility and alleviate poverty CA 582467 1179360 New Economics for Women Yolanda Property LLC 303 S Loma Drive Los Angeles CA 90017 922344787 Real estate commercial renting CA 244643 142936 New Economics for Women 27th and San Pedro LLC 303 S Loma Drive Los Angeles CA 90017 922754632 Real estate holding company CA 14250 187961 New Economics for Women New Capital LLC 303 S Loma Drive Los Angeles CA 90017 954546100 Property management for low-income housing CA N/A Related 2404634 1899400 0 1 0.97500 Bendecidos San Fernando LLC 303 S Loma Drive Los Angeles CA 90017 Single purpose entity, holding company for Real Estate Development CA New Economics for Women S 27939 0.75000 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 New Community Investments LLC B 572000 Book value