New Markets Lab in Washington, District of Columbia (DC)

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New Markets Lab
Employer Identification Number (EIN)273977364
Name of OrganizationNew Markets Lab
In Care of NameEugene Terry
Address1100 17th St Nw Ste 1000, Washington, DC 20036-4637
SubsectionEducational Organization
Ruling Date08/2012
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (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


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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%

Financial snapshot ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
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
201120122013
Total assets$22,158$73,526$25,521
Total liabilities$0$0$45,000
Net assets or fund balances$-19,479
Other Information
201120122013
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 activitiesNo
Has the organization filed a Form 990-T for the year?NoNoNo
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?NoNoNo
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 supported0
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
IdNameAddressStateEstablishedTotal Income
1National Immigration Forum Action Fund50 F St Nw Ste 300, Washington, DC 20001-1552DC2009-06$2,251,677
2Hispanic Access Foundation1718 M Street Nw Suite 150, Washington, DC 20036-4504DC2010-08$2,145,457
3Turkish-American Religious Foundation2525 Massachusetts Ave Nw, Washington, DC 20008-2826DC2014-07$874,688
4Chinatown Community Cultural Center Inc616 H St Nw Ste 201, Washington, DC 20001-5802DC2004-07$182,616
5Federal Asian Pacific American Council FapacPO BOX 23184, Washington, DC 20026-3184DC1999-09$176,796
6New Markets Lab1100 17th St Nw Ste 1000, Washington, DC 20036-4637DC2012-08$176,589
7North Korean Refugees In The United StatesPO BOX 33987, Washington, DC 20033-0987DC2012-11$82,436
8Voice Of Hager FikirPO BOX 21126, Washington, DC 20009-0626DC2004-08$21,175
9Friends Of The Ncsj2020 K Street Nw Suite 7800, Washington, DC 20006-1806DC2001-04$3
10Abyei FoundationPO BOX 77046, Washington, DC 20013-8046DC2002-07$0
11Africa Humanitarian Action Inc1823 Riggs Pl Nw No 6, Washington, DC 20009-6184DC2011-11$0
12Centro De Alfabetizacion En Espanol, Cenaes2200 California Street Nw, Washington, DC 20009DC2010-05$0
13Eec Holistic Ministry7930 Eastern Ave Nw, Washington, DC 20012DC2007-04$0
14Eritrean Community Development Services Inc1914 9th St Nw, Washington, DC 20001DC2009-12$0
15Ethiopian Community Development Program1122 G St Se, Washington, DC 20003-2970DC2004-12$0
16Irish National Caucus Foundation IncPO BOX 15128, Washington, DC 20003DC1980-01$0
17Laotian American National Alliance, No Not Applicable1628 16th Street Nw 2nd Floor, Washington, DC 20009DC2006-09$0
18South Asian Reach Inc1625 16th St Nw Apt 202, Washington, DC 20009-3045DC2003-01$0
19The Center For Asian Americans3100 Connecticut Ave Nw Apt 209, Washington, DC 20008-5100DC1998-10$0
20Voice Of Ethiopiawinet1335 Irving St Ne, Washington, DC 20017-2453DC2014-12$0
Number of organizations performing similar types of work
Alaska4
Alabama17
Arkansas9
Arizona42
California339
Colorado32
Connecticut28
District of Columbia20
Delaware2
Florida146
Georgia79
Hawaii10
Iowa25
Idaho8
Illinois79
Indiana16
Kansas6
Kentucky14
Louisiana10
Massachusetts84
Maryland63
Maine9
Michigan60
Minnesota131
Missouri35
Mississippi4
Montana3
North Carolina58
North Dakota9
Nebraska20
New Hampshire10
New Jersey70
New Mexico12
Nevada12
New York253
Ohio56
Oklahoma7
Oregon44
Pennsylvania62
Rhode Island12
South Carolina11
South Dakota9
Tennessee35
Texas131
Utah19
Virginia56
Vermont2
Washington66
Wisconsin22
West Virginia3
Wyoming2
International2
Total2,258

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