Overview
What is The New Press Inc?
The New Press Inc, based in New York City, is a nonprofit publishing organization that focuses on disseminating books of cultural, historical, and educational value. These publications often tackle subjects with less commercial appeal, thereby expanding societal and educational awareness. Despite facing challenges typical to publishers with predominantly nonfiction lists, The New Press had a solid year in 2022. Their frontlist sales exceeded projections, while their backlist sales showed a decline from the exceptional revenues in 2020 and 2021. Contributed revenues also saw a decrease. The organization has maintained a healthy financial position with over $4 million in cash on hand by the end of 2022. In addition to publishing, The New Press organizes public forums for discussions on issues covered in their books, featuring their authors. The organization currently employs 38 individuals.
Official website here: www.thenewpress.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
The New Press Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The rating is derived from their exceptional performance in various metrics, particularly in accountability, where they received perfect scores in areas such as independent board membership and financial oversight. This demonstrates a well-structured governance framework that promotes transparency and ethical management.
The organization has shown a solid financial standing, with a program expense ratio of 68.23%, indicating that a significant portion of their funds is allocated directly to their programs. Their liabilities to assets ratio of 29.75% suggests a healthy balance sheet, which is a positive indicator of financial stability. Additionally, the working capital ratio of 1.55 years provides assurance of their ability to sustain operations in the short to medium term.
However, there is a noted limitation regarding fundraising efficiency, where they scored $0.26 for every dollar raised. While this is relatively low, it is balanced by their overall high scores in other areas. The New Press Inc's strong governance and financial metrics position them as a reputable nonprofit, although there is room for improvement in fundraising strategies to enhance their overall efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is The New Press Inc legitimate?
The New Press Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The New Press Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $704,691
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,860,412
For more financial information, click here
Official website here: www.thenewpress.com
What is the mission statement of The New Press Inc?
The New Press Inc, as an organization, is committed to publishing books of cultural, historical, and educational value that may be overlooked by commercial publishers due to perceived lack of profitability. Their primary mission is to increase educational and social awareness through the publication of such books, often written by authors or about subjects that are not deemed commercially viable. In addition to publishing, The New Press Inc also organizes free public forums for discussions about the issues addressed in their books, facilitated by the authors themselves. These events provide a platform for open dialogue and further exploration of the themes presented in their publications.
Official website here: www.thenewpress.com
What is the revenue of The New Press Inc?
The New Press Inc's revenue in 2023 was $3,159,981.
Official website here: www.thenewpress.com
Who are the executives of The New Press Inc and what are their salaries?
The average compensation at The New Press Inc during 2023 was $58,298. There are 44 employees and 21 volunteers at The New Press Inc.
Here are 23 key members and their salaries:
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- Compensation: $102,872
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- Other: $13,177
Official website here: www.thenewpress.com
Where can I find the form 990 for The New Press Inc?
The New Press Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thenewpress.com
Learn more at the official website: www.thenewpress.com
Mission Statement of The New Press Inc
The New Press Inc, a publishing organization, is dedicated to a mission that lies in the public interest. Their primary focus is on publishing books of cultural, historical, and educational value. These books often tackle subjects that commercial publishers may deem insufficiently profitable, thereby overlooking them. By doing so, The New Press Inc contributes to the dissemination of knowledge and awareness on various cultural, historical, and social issues.
In addition to publishing, The New Press Inc organizes free public forums for discussions. These forums provide a platform for the authors associated with the press to engage in discourses related to the topics addressed in their books. This initiative serves to foster an active exchange of ideas and perspectives, thereby promoting further understanding and awareness on the subjects at hand.
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Impact
October, 2024
The New Press Inc has made a significant impact by publishing books that address cultural, historical, and social issues, thereby enhancing educational and social awareness. By focusing on topics often overlooked by mainstream commercial publishers, The New Press fills a critical gap in the literary landscape, providing a platform for voices and narratives that might otherwise remain unheard.
Despite facing challenges typical of nonfiction publishing, The New Press has demonstrated resilience by exceeding sales forecasts for its frontlist titles. This achievement indicates a strong demand for the kind of in-depth, thought-provoking content that aligns with its mission. While backlist sales experienced a decline following a peak during the pandemic years, the organization maintained solid overall performance, showcasing its ability to adapt to market fluctuations.
The New Press also actively engages the community by organizing free public forums that encourage discussions around the themes presented in their books. This not only fosters a culture of dialogue and critical thinking but also builds connections between authors and audiences, amplifying the impact of their published works.
With a cash reserve of over $4 million at the end of 2022, The New Press is well-positioned to continue its important work in publishing, ensuring that vital topics and underrepresented voices remain visible and accessible in the literary world. Through its dedication to publishing books of cultural significance, The New Press Inc contributes meaningfully to the broader conversation on social issues, thus enhancing public discourse and awareness on important topics.
This information is meant to be a general summary of The New Press Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $42,536
- Program Service Revenue: $323,776
- Gross Receipts: $6,351,461
Assets and Liabilities:
- Total Assets: $9,659,193
- Total Liabilities: $1,485,699
- Net Assets: $8,173,494
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBRIGHTS INCOME
Revenue
$323,776
Organization Details
Founding Year
1990
Principal Officer
Diane Wachtell
Website
www.thenewpress.comNTEE Category
Code: A330 - Arts
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