Overview
What is New Economics For Women?
New Economics For Women, based in Los Angeles, California, is a nonprofit organization that operates two FamilySource Centers (FSCs) to empower thousands of adults, youth, and children. Through these centers, New Economics For Women offers families access to vital resources aimed at stabilizing their economic situation and paving the way for prosperity. In collaboration with the City of Los Angeles, New Economics For Women acts as the lead agency for the FSCs in Canoga Park and Van Nuys. The organization forms partnerships with other community-based entities to provide high-quality services, workshops, and events to families facing low income. The spectrum of services includes case management, employment assistance, legal aid, tax preparation, financial literacy classes, technology workshops, and youth development programs. The focus on behavioral economics enables families to achieve long-term economic mobility and sustained success. New Economics For Women's mission and vision can be found in Schedule O. The organization employs a team of 114 individuals.
Official website here: www.neweconomicsforwomen.org
What are the reviews and ratings of this charity?
85% rating from Charity Navigator indicates that New Economics For Women (NEW) has a solid performance in terms of accountability and finance, earning a three-star rating. The organization showcases a strong governance structure with a fully independent board and rigorous financial oversight, including audits and a well-documented conflict of interest policy.
User feedback highlights the positive impact NEW has on families within low-income communities. A volunteer shared a personal testimonial about how NEW provided affordable housing and academic opportunities, contributing significantly to the success of their children. Such narratives reinforce the nonprofit's mission to foster better futures for families through education and community support.
While the organization demonstrates commendable efficiency and transparency in its operations, specific limitations or challenges were not noted in the provided data. Overall, NEW appears to be a trustworthy organization that effectively utilizes donations to support its mission and make a meaningful difference in the lives of individuals and families it serves.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
What do the Facebook reviews say about New Economics For Women?
92% of 46 reviewers on Facebook recommend New Economics For Women. Here is a summary of their reviews:
Overall, many people appreciate the mission and activities of the organization, noting its focus on empowering women and providing valuable resources. Several reviewers express satisfaction with the workshops and programs offered, highlighting the positive impact on their personal and professional lives. However, there are concerns regarding organizational aspects, particularly related to event management. One reviewer shared a frustrating experience about an event where they faced issues with check-in and communication, which led to feelings of unprofessionalism and disorganization.
Despite this isolated critical feedback, the prevailing sentiment leans towards favorability, indicating that most participants find value in the services provided. The nonprofit appears to be making a significant difference in the community it serves, even as it navigates some operational challenges.
This AI summary has been generated from reviews found on Facebook.
Is New Economics For Women legitimate?
New Economics For Women is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Economics For Women 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: $136,240
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,307,235
For more financial information, click here
Official website here: www.neweconomicsforwomen.org
What is the mission statement of New Economics For Women?
New Economics For Women empowers thousands of adults, youth, and children by providing access to resources that help stabilize and economically empower families. They offer a range of services and workshops through their FamilySource Centers, focusing on increasing family income, housing stability, and economic mobility. These centers offer case management, employment services, legal assistance, financial literacy classes, financial coaching, technology workshops, and youth leadership and college/career readiness activities. Through behavioral economics, New Economics For Women aims to help low-income families achieve true upward economic mobility and sustained success. By partnering with other community-based organizations, they offer a holistic spectrum of anti-poverty services, enabling families to overcome financial challenges and build a better future.
Official website here: www.neweconomicsforwomen.org
Who is the CEO of New Economics For Women?
Magdalena Cervantes is the Board Secre./Pres.(Start 1/22) of New Economics For Women.
Official website here: www.neweconomicsforwomen.org
What is the revenue of New Economics For Women?
New Economics For Women's revenue in 2022 was $12,624,374.
Official website here: www.neweconomicsforwomen.org
Who are the executives of New Economics For Women and what are their salaries?
The average compensation at New Economics For Women during 2022 was $38,978. There are 114 employees and 10 volunteers at New Economics For Women.
Here are 13 key members and their salaries:
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- Related: $149,957
- Other: $25,046
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- Compensation: $116,422
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- Other: $16,240
- Compensation: $105,000
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- Other: $1,100
Official website here: www.neweconomicsforwomen.org
Where can I find the form 990 for New Economics For Women?
New Economics For Women's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neweconomicsforwomen.org
Learn more at the official website: www.neweconomicsforwomen.org
Mission Statement of New Economics For Women
New Economics For Women, or NEW, is an organization dedicated to empowering thousands of adults, youth, and children by providing access to resources that help stabilize and economically empower families. Through their two FamilySource Centers (FSCs), NEW forms partnerships with community-based organizations to deliver high-quality services, workshops, and events that aim to increase family income, ensure housing stability, and promote economic mobility.
At each FamilySource Center, NEW offers a comprehensive range of anti-poverty services designed to address the unique needs of low-income families. These services include case management, employment services, legal assistance, free tax preparation, financial literacy classes, financial coaching, technology workshops, and computer labs. Additionally, NEW focuses on youth leadership and college/career readiness activities to help young people prepare for future opportunities. NEW's innovative approach to behavioral economics provides families with essential tools and resources, enabling them to achieve upward economic mobility and sustained success over time.
The mission of New Economics For Women can be described as a dedicated commitment to helping families overcome the challenges of poverty and economically disadvantaged situations. By offering a holistic spectrum of services and resources, NEW empowers individuals and families to make informed decisions that positively impact their lives and contribute to their long-term economic stability. Through their collaborative partnerships and community-driven approach, NEW continues to make a significant impact on the lives of those they serve.
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Impact
October, 2024
New Economics For Women significantly impacts low-income families by offering a comprehensive suite of services that foster economic empowerment and stability. Through its FamilySource Centers in Canoga Park and Van Nuys, it provides access to critical resources that help families navigate pathways to economic prosperity.
By partnering with community organizations, New Economics For Women delivers a holistic array of anti-poverty services. These range from case management and employment services to financial literacy classes and free tax preparation. This multifaceted approach not only addresses immediate needs such as housing stability and income enhancement but also equips families with skills for long-term success.
The focus on behavioral economics plays a vital role in guiding families toward sustainable economic mobility. By understanding the underlying factors that influence financial decision-making, New Economics For Women helps participants develop strategies that lead to meaningful and lasting change. Through workshops, youth leadership programs, and technology training, the organization empowers individuals at all stages of life, thus fostering a brighter future for entire communities.
This information is meant to be a general summary of New Economics For Women. 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 2022.
- Investment Income: $90,185
- Program Service Revenue: $824,139
- Gross Receipts: $12,624,374
Assets and Liabilities:
- Total Assets: $44,094,998
- Total Liabilities: $30,647,784
- Net Assets: $13,447,214
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Mgmt. & Training fees
Revenue
$441,426
Rental Income
Revenue
$374,713
Parking Income
Revenue
$8,000
Organization Details
Founding Year
1984
Phone
(213) 483-2060Principal Officer
Magdalena Cervantes
Main Address
303 South Loma Drive, Los Angeles, CA, 90017
Website
www.neweconomicsforwomen.orgNTEE Category
Code: L210 - Housing
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