New Markets Lab in Washington, District of Columbia (DC)
Table of contents:
| New Markets Lab | |
| Employer Identification Number (EIN) | 273977364 |
| Name of Organization | New Markets Lab |
| In Care of Name | Eugene Terry |
| Address | 1100 17th St Nw Ste 1000, Washington, DC 20036-4637 |
| Subsection | Educational Organization |
| Ruling Date | 08/2012 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $25,521 |
| Amount of Income | $176,589 |
| Form 990 Revenue Amount | $176,589 |
| National Taxonomy of Exempt Entities (NTEE) | Human Services - Multipurpose and Other: Ethnic, Immigrant Centers, Services |
Non-representatives - add comments:
Amount of income in 2013: $176,589 (it was $447,153 in 2012)
| New Markets Lab: | $176,589 |
| Other organizations performing similar types of work: | $57,157 |
Assets in 2013: $25,521 (it was $73,526 in 2012)
| New Markets Lab: | $25,521 |
| Other organizations performing similar types of work: | $16,796 |
Expenses in 2013: $269,594
| New Markets Lab: | $269,594 |
| Other organizations performing similar types of work: | $54,286 |
Income to expenses ratio in 2013: 0.7
| New Markets Lab: | 0.7 |
| Other organizations performing similar types of work: | 0.5 |
Grants share in income in 2013: 100.0%
| New Markets Lab: | 100.0% |
| Other organizations performing similar types of work: | 3.0% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $176,589 | ||
| Contributions, gifts, grants, and similar amounts received | $176,589 | ||
| Program service revenue including government fees and contracts | $0 | ||
| Membership dues and assessments | $0 | ||
| Investment income | $0 | ||
| Gain/Loss from sale of assets other than inventory | $0 | ||
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | ||
| Other revenue | $0 | ||
| Total expenses | $269,594 | ||
| Total net assets | $-19,479 | ||
| Excess/Deficit for the year | $-93,005 | ||
| Net assets or fund balances at beginning of year | $73,526 | ||
| Other changes in net assets or fund balances | $0 | ||
| Net assets or fund balances at end of year | $-19,479 | ||
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $22,158 | $73,526 | $25,521 |
| Total liabilities | $0 | $0 | $45,000 |
| Net assets or fund balances | $-19,479 | ||
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | ||
| Were any significant changes made to the organizing or governing documents? | No | ||
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | ||
| Has the organization filed a Form 990-T for the year? | No | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | ||
| Amount of political expenditures, direct or indirect | $0 | ||
| Did the organization file Form 1120-POL for this year? | No | ||
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | Yes | ||
| Total amount involved | $45,000 | ||
| Initiation fees and capital contributions | $0 | ||
| Gross receipts for public use of club facilities | $0 | ||
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | ||
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | No |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $1,048,742 |
| Subtotal | $1,048,742 |
| Gifts, grants, contributions, and membership fees received | $1,048,742 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $1,048,742 |
| Public support | $1,048,742 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | National Immigration Forum Action Fund | 50 F St Nw Ste 300, Washington, DC 20001-1552 | DC | 2009-06 | $2,251,677 |
| 2 | Hispanic Access Foundation | 1718 M Street Nw Suite 150, Washington, DC 20036-4504 | DC | 2010-08 | $2,145,457 |
| 3 | Turkish-American Religious Foundation | 2525 Massachusetts Ave Nw, Washington, DC 20008-2826 | DC | 2014-07 | $874,688 |
| 4 | Chinatown Community Cultural Center Inc | 616 H St Nw Ste 201, Washington, DC 20001-5802 | DC | 2004-07 | $182,616 |
| 5 | Federal Asian Pacific American Council Fapac | PO BOX 23184, Washington, DC 20026-3184 | DC | 1999-09 | $176,796 |
| 6 | New Markets Lab | 1100 17th St Nw Ste 1000, Washington, DC 20036-4637 | DC | 2012-08 | $176,589 |
| 7 | North Korean Refugees In The United States | PO BOX 33987, Washington, DC 20033-0987 | DC | 2012-11 | $82,436 |
| 8 | Voice Of Hager Fikir | PO BOX 21126, Washington, DC 20009-0626 | DC | 2004-08 | $21,175 |
| 9 | Friends Of The Ncsj | 2020 K Street Nw Suite 7800, Washington, DC 20006-1806 | DC | 2001-04 | $3 |
| 10 | Abyei Foundation | PO BOX 77046, Washington, DC 20013-8046 | DC | 2002-07 | $0 |
| 11 | Africa Humanitarian Action Inc | 1823 Riggs Pl Nw No 6, Washington, DC 20009-6184 | DC | 2011-11 | $0 |
| 12 | Centro De Alfabetizacion En Espanol, Cenaes | 2200 California Street Nw, Washington, DC 20009 | DC | 2010-05 | $0 |
| 13 | Eec Holistic Ministry | 7930 Eastern Ave Nw, Washington, DC 20012 | DC | 2007-04 | $0 |
| 14 | Eritrean Community Development Services Inc | 1914 9th St Nw, Washington, DC 20001 | DC | 2009-12 | $0 |
| 15 | Ethiopian Community Development Program | 1122 G St Se, Washington, DC 20003-2970 | DC | 2004-12 | $0 |
| 16 | Irish National Caucus Foundation Inc | PO BOX 15128, Washington, DC 20003 | DC | 1980-01 | $0 |
| 17 | Laotian American National Alliance, No Not Applicable | 1628 16th Street Nw 2nd Floor, Washington, DC 20009 | DC | 2006-09 | $0 |
| 18 | South Asian Reach Inc | 1625 16th St Nw Apt 202, Washington, DC 20009-3045 | DC | 2003-01 | $0 |
| 19 | The Center For Asian Americans | 3100 Connecticut Ave Nw Apt 209, Washington, DC 20008-5100 | DC | 1998-10 | $0 |
| 20 | Voice Of Ethiopiawinet | 1335 Irving St Ne, Washington, DC 20017-2453 | DC | 2014-12 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,258 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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