Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $326,970,531

• 1f · All other contributions, gifts and grants

  $52,388,972

• 1g · Noncash contributions included above

  $1,255,258

• 2a · Program service revenue: Conference center revenue

  total $11,100 · related or exempt $11,100

• 3 · Investment income

  total $28,029,932 · excluded $28,029,932

• 5 · Royalties

  total $251 · excluded $251

• 6a · Gross rents

  real property $495,868

• 6b · Less rental expenses

  real property $547,176

• 6c · Rental income or loss

  real property -$51,308

• 6d · Net rental income or loss

  total -$51,308 · excluded -$51,308

• 7a · Gross sales of assets other than inventory

  securities $906,482,069

• 7b · Less cost or other basis and sales expenses

  securities $899,545,564

• 7c · Gain or loss

  securities $6,936,505

• 7d · Net gain or loss

  total $6,936,505 · excluded $6,936,505

• 11a · Other revenue: Parking garage revenue - mgmt co

  total $819,111 · unrelated business $776,181 · excluded $42,930

• 11b · Other revenue: Realized fx gain

  total $126,229 · excluded $126,229

• 11e · Other revenue, total

  $945,340

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $139,168,544 · program services $139,168,544

• 2 · Grants to domestic individuals

  total $100,000 · program services $100,000

• 3 · Grants to foreign organizations and individuals

  total $14,164,240 · program services $14,164,240

• 5 · Compensation of officers, directors and key employees

  total $3,965,948 · program services $713,935 · management and general $3,252,013

• 6 · Compensation of disqualified persons

  total $30,589 · management and general $30,589

• 7 · Other salaries and wages

  total $107,384,399 · program services $86,833,295 · management and general $16,778,191 · fundraising $3,772,913

• 8 · Pension plan contributions

  total $11,533,496 · program services $9,259,612 · management and general $1,867,913 · fundraising $405,971

• 9 · Other employee benefits

  total $11,682,274 · program services $9,330,755 · management and general $1,944,420 · fundraising $407,099

• 10 · Payroll taxes

  total $8,188,275 · program services $6,556,214 · management and general $1,369,159 · fundraising $262,902

• 11b · Fees: legal

  total $1,006,200 · program services $444,741 · management and general $561,421 · fundraising $38

• 11c · Fees: accounting

  total $312,862 · management and general $312,862

• 11d · Fees: lobbying

  total $1,130,957 · program services $1,130,957

• 11f · Fees: investment management

  total $1,611,761 · management and general $1,611,761

• 11g · Fees: other

  total $18,696,441 · program services $16,144,683 · management and general $2,444,384 · fundraising $107,374

• 12 · Advertising and promotion

  total $902,501 · program services $902,501

• 13 · Office expenses

  total $2,957,697 · program services $2,446,578 · management and general $443,496 · fundraising $67,623

• 14 · Information technology

  total $10,228,634 · program services $8,533,962 · management and general $1,469,261 · fundraising $225,411

• 16 · Occupancy

  total $4,732,406 · program services $3,980,820 · management and general $638,231 · fundraising $113,355

• 17 · Travel

  total $7,356,812 · program services $6,980,140 · management and general $238,291 · fundraising $138,381

• 18 · Travel or entertainment for public officials

  total $32,696 · program services $32,696

• 19 · Conferences, conventions and meetings

  total $2,288,270 · program services $1,731,655 · management and general $512,712 · fundraising $43,903

• 20 · Interest

  total $4,199,679 · program services $3,416,028 · management and general $664,495 · fundraising $119,156

• 22 · Depreciation, depletion and amortization

  total $5,788,780 · program services $4,849,505 · management and general $770,117 · fundraising $169,158

• 23 · Insurance

  total $495,448 · program services $91,267 · management and general $401,043 · fundraising $3,138

• 24a · Other expenses: Dues and subscriptions

  total $1,632,380 · program services $1,437,216 · management and general $115,503 · fundraising $79,661

• 24b · Other expenses: Parking garage

  total $1,214,019 · management and general $1,214,019

• 24c · Other expenses: Honoraria

  total $329,770 · program services $327,770 · management and general $1,000 · fundraising $1,000

• 24d · Other expenses: Unrelated bus. inc. tax

  total $250 · management and general $250

• 24e · All other expenses

  total $236,188 · program services $109,617 · management and general $126,571

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $546,241 · end of year $304,279

• 2 · Savings and temporary cash investments

  beginning of year $1,758,471 · end of year $23,389,170

• 3 · Pledges and grants receivable

  beginning of year $8,878,544 · end of year $13,524,111

• 4 · Accounts receivable

  beginning of year $431,540 · end of year $323,844

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,852,862 · end of year $3,727,377

• 10a · Land, buildings and equipment: cost or other basis

  $258,880,157

• 10b · Land, buildings and equipment: accumulated depreciation

  $82,881,756

• 10c · Land, buildings and equipment, net

  beginning of year $180,557,095 · end of year $175,998,401

• 11 · Investments: publicly traded securities

  beginning of year $1,033,684,708 · end of year $1,068,999,953

• 15 · Other assets

  beginning of year $4,725,022 · end of year $4,927,325

• 17 · Accounts payable and accrued expenses

  beginning of year $16,467,696 · end of year $16,415,141

• 18 · Grants payable

  beginning of year $194,074,403 · end of year $175,970,409

• 19 · Deferred revenue

  beginning of year $2,335,507 · end of year $899,764

• 20 · Tax-exempt bond liabilities

  beginning of year $130,748,273 · end of year $124,534,979

• 21 · Escrow or custodial account liability

  beginning of year $973,516 · end of year $836,142

• 25 · Other liabilities

  beginning of year $46,626,651 · end of year $40,053,811

• 27 · Net assets without donor restrictions

  beginning of year $822,780,446 · end of year $898,873,679

• 28 · Net assets with donor restrictions

  beginning of year $20,427,991 · end of year $33,610,535

The filer's explanations (Part III)

Part I, Line 1a

As a general matter, Pew does not provide first-class travel for its directors, officers, or staff. In the case of air travel for Pew business, Pew provides coach class accommodations if the total flight time of all travel segments is less than four hours. If total flight time exceeds four hours or there is a medical necessity, Pew provides its board members with intermediate/business class flight accommodations. If business class is not available for any segment of a trip for which total flight time exceeds four hours or there is a medical necessity, Pew provides first class accommodations and does not treat the cost of the upgrade as taxable income. During the calendar year, five directors were provided with first class air travel for Pew business trips because business class accommodations were not available. The CEO was reimbursed $3,000 for legal services and $960 for financial planning services. These benefits were treated as taxable compensation to the CEO and included in her Form W-2.

Part I, Lines 4a-b

The SVP, Government Performance received a severance payment in the amount of $254,575. Pew's compensation committee previously established a nonqualified deferred compensation plan under section 457(f) of the Internal Revenue Code for the prior CEO, who vested in the plan benefit in 2012. A distribution of $123,125 was included on her 2022 Form W-2. The CEO is a participant in a supplemental employee retirement plan that is now frozen. No contributions were made to the plan in 2022. Benefits are payable in the event of termination of employment or death.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Election Trust Initiative LLC

  Grantmaking · DE · income $20,068,134 · assets $20,086,479

  Directly controlled by The Pew Charitable Trusts