Civic Intelligence

New Growth Innovation Network

990 • Fiscal year 2019 • EIN 83-1833081

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

30 W Monroe Street No 510Chicago, IL 60603

(305) 399-8087

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.43x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

75th percentile

0.18x

Higher debt load relative to revenue than 75% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

66th percentile

$50,000

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Assets

$374,875

No earlier filing loaded for comparison.

Net Assets

$213,785

No earlier filing loaded for comparison.

Liabilities

$161,090

No earlier filing loaded for comparison.

Revenue

$913,250

No earlier filing loaded for comparison.

Expenses

$596,073

No earlier filing loaded for comparison.

Net Income

$317,177

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2019: $374,875Liabilities 2019: $161,090Net Assets 2019: $213,7852019Assets 2020: $616,603Liabilities 2020: $331Net Assets 2020: $616,2722020Assets 2021: $626,640Liabilities 2021: $215Net Assets 2021: $626,4252021Assets 2022: $3,511,444Liabilities 2022: $16,490Net Assets 2022: $3,494,9542022Assets 2023: $2,746,301Liabilities 2023: $165,502Net Assets 2023: $2,580,7992023Assets 2024: $5,162,212Liabilities 2024: $810,756Net Assets 2024: $4,351,4562024

Highlighted filing

2019

Assets$374,875
Liabilities$161,090
Net Assets$213,785

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $913,250Expenses 2019: $596,073Net Income 2019: $317,1772019Revenue 2020: $709,204Expenses 2020: $306,717Net Income 2020: $402,4872020Revenue 2021: $838,917Expenses 2021: $828,764Net Income 2021: $10,1532021Revenue 2022: $4,225,478Expenses 2022: $1,356,949Net Income 2022: $2,868,5292022Revenue 2023: $1,835,314Expenses 2023: $2,749,469Net Income 2023: -$914,1552023Revenue 2024: $6,202,365Expenses 2024: $4,431,708Net Income 2024: $1,770,6572024

Highlighted filing

2019

Revenue$913,250
Expenses$596,073
Net Income$317,177
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.1
Gross Receipts
$913,250
Mission and Program Overview

Mission

New growth innovation network (ngin) unites economic development leaders committed to building a new field of inclusive economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,500$362,983▲ $350,483
Loans From Officers Directors$115,892$158,314▲ $42,422
Total Assets$12,500$374,875▲ $362,375
Other Assets Total$0$11,892▲ $11,892
Liabilities
Accounts Payable and Accrued Expenses-$2,776-
Total Liabilities$115,892$161,090▲ $45,198
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-103,392$213,785▲ $317,177
Total Net Assets Fund Balance$-103,392$213,785▲ $317,177
Total Liabilities and Net Assets / Fund Balance$12,500$374,875▲ $362,375
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
M Yasmina MccartyChief Executive OfficerFT$50,000$50,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Rw Ventures LLCManagement And Consulting30 W MONROE STREET, Chicago, IL 60603$376,763
Revenue and Support

Revenue Composition

Contributions and Grants
$913,250
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$855,000
Change in Net Assets
$317,177
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$542,248
Salaries, Compensation, and Employee Benefits$53,825
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$435,483--$435,483
Current Officers, Directors, Trustees, and Key Employees$50,000--$50,000
Conferences and Meetings$36,504--$36,504
Advertising$23,199--$23,199
Office Expenses-$15,118-$15,118
Travel$14,579--$14,579
Fees for Services Legal-$8,770-$8,770
Insurance-$8,595-$8,595
Payroll Taxes$3,825--$3,825
Total Functional Expenses$563,590$32,483$0$596,073
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-RW VENTURES LLC IS 100% OWNED BY A DIRECTORRw Ventures LLC Provided Management and Consulting Services for the Organization.No$376,763

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$115,892$158,314▲ $42,422
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Lyneir richardson and robert weissbourd - business relationship

Form 990, Part VI, Section B, Line 11B

The completed 990 is given to the board treasurer to review and sign before it is filed. The organization 2019 accounts were reviwed in full and signed off by the finance committee.

Form 990, Part VI, Section B, Line 12C

Board members were asked to identify any conflicts of interest at the time of board formation and the process will be repeated in 2020.

Form 990, Part VI, Section B, Line 15

The board of directors undertook a robust benchmarking process to set the appropriate compensation for the ceo. This process was undertaken in advance of hiring the ceo and is formally documented in the december 2019 board meeting.

Form 990, Part VI, Section C, Line 19

Documents and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
New Growth Innovation Network
EIN
83-1833081
Phone
3053998087
Address
30 W MONROE STREET NO 510, CHICAGO, IL 60603

Signing Officer

Name
M Yasmina Mccarty
Title
President
Phone
3053998087
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
M Yasmina Mccarty
Formed
2018
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
14
Employees
1
Volunteers
0

Preparer

Firm
Gimbel Abrams Singer Llp
Address
10 S RIVERSIDE PLAZA SUITE 1770, CHICAGO, IL 60606-3710
Preparer
Stephen F Garley
Phone
3127821010
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting: program service expenses 8,680. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,680. Subcontractors: program service expenses 409,303. Management and general expenses 0. Fundraising expenses 0. Total expenses 409,303. Fiscal sponsorship: program service expenses 17,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,500.

FORM 990, PART XII, LINE 2(C):

The board of directors assumes responsibilities for oversight of the compilation and selection of the independent accountants.

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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NEW GROWTH INNOVATION NETWORK WAS FOUNDED IN 2018, BUT DID NOT RECEIVE ITS CHARITABLE STATUS UNTIL 2019.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, SHORT YEAR EXPLANATION:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0913250
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0913250
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt0913250
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0913250
IRS990ScheduleA/Total509Grp/TotalAmt0913250
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0913250
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0913250
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0RW VENTURES LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0RW VENTURES LLC IS 100% OWNED BY A DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0376763
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RW VENTURES LLC PROVIDED MANAGEMENT AND CONSULTING SERVICES FOR THE ORGANIZATION.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0158314
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0RW VENTURES LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0ACCOUNTS PAYABLE FOR SERVICES RENDERED
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0158314
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CONTROLLED ENTITY OF A DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt0158314
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LYNEIR RICHARDSON AND ROBERT WEISSBOURD - BUSINESS RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPLETED 990 IS GIVEN TO THE BOARD TREASURER TO REVIEW AND SIGN BEFORE IT IS FILED. THE ORGANIZATION 2019 ACCOUNTS WERE REVIWED IN FULL AND SIGNED OFF BY THE FINANCE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS WERE ASKED TO IDENTIFY ANY CONFLICTS OF INTEREST AT THE TIME OF BOARD FORMATION AND THE PROCESS WILL BE REPEATED IN 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS UNDERTOOK A ROBUST BENCHMARKING PROCESS TO SET THE APPROPRIATE COMPENSATION FOR THE CEO. THIS PROCESS WAS UNDERTAKEN IN ADVANCE OF HIRING THE CEO AND IS FORMALLY DOCUMENTED IN THE DECEMBER 2019 BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONSULTING: PROGRAM SERVICE EXPENSES 8,680. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,680. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 409,303. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 409,303. FISCAL SPONSORSHIP: PROGRAM SERVICE EXPENSES 17,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITIES FOR OVERSIGHT OF THE COMPILATION AND SELECTION OF THE INDEPENDENT ACCOUNTANTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2(C):
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012500
IRS990/TotalAssetsEOYAmt0374875
IRS990/TotalAssetsGrp/BOYAmt012500
IRS990/TotalAssetsGrp/EOYAmt0374875
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0913250
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt032483
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0563590
IRS990/TotalFunctionalExpensesGrp/TotalAmt0596073
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0115892
IRS990/TotalLiabilitiesEOYAmt0161090
IRS990/TotalLiabilitiesGrp/BOYAmt0115892
IRS990/TotalLiabilitiesGrp/EOYAmt0161090
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-103392
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0213785
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0563590
IRS990/TotalReportableCompFromOrgAmt050000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0913250
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012500
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0374875
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt014579
IRS990/TravelGrp/TotalAmt014579
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt030 W MONROE STREET SUITE 510
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060603
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0HTTPS://NEWGROWTH.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0M YASMINA MCCARTY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03053998087
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEW GROWTH INNOVATION NETWORK
ReturnHeader/Filer/BusinessNameControlTxt0NEWG
ReturnHeader/Filer/EIN0831833081
ReturnHeader/Filer/PhoneNum03053998087
ReturnHeader/Filer/USAddress/AddressLine1Txt030 W MONROE STREET NO 510
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060603
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId068B024707B679C47535B52FFE0BDDC0256448209
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId084F7403001CBB7DC734126F3C259BF10B8FDBFA3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.47.138.74
ReturnHeader/FilingSecurityInformation/IPDt02020-11-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS

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