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← PACIFIC RESEARCH INSTITUTE FOR PUBLIC POLICY

Form 990 for tax year 2023

Filed by PACIFIC RESEARCH INSTITUTE FOR PUBLIC POLICY.

Totals

Total revenue
$12,035,182
Total expenses
$5,388,258
Contributions and grants received
$10,899,439
Grants paid
$0
Program service revenue
$0
Investment income
$886,256
Other revenue
$249,487
Total assets, end of year
$30,144,966
Total liabilities, end of year
$300,355
Net assets or fund balances, end of year
$29,844,611
Program services expenses (Part IX)
$3,369,056
Management and general expenses
$732,989
Fundraising expenses
$1,286,213
Program service expenses (Part III)
$3,369,056

Program services were 62.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $150,070

  • 1f · All other contributions, gifts and grants

    $10,749,369

  • 3 · Investment income

    total $785,108 · excluded $785,108

  • 5 · Royalties

    total $653 · excluded $653

  • 7a · Gross sales of assets other than inventory

    securities $1,093,306

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

    securities $992,158

  • 7c · Gain or loss

    securities $101,148

  • 7d · Net gain or loss

    total $101,148 · excluded $101,148

  • 8a · Fundraising events: gross income

    $248,834

  • 8a · Fundraising events: contributions included on line 1c

    $150,070

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $248,834 · excluded $248,834

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,350,700 · program services $677,348 · management and general $315,780 · fundraising $357,572

  • 7 · Other salaries and wages

    total $244,097 · program services $122,410 · management and general $57,067 · fundraising $64,620

  • 9 · Other employee benefits

    total $76,373 · program services $33,255 · management and general $25,084 · fundraising $18,034

  • 10 · Payroll taxes

    total $85,687 · program services $56,812 · management and general $5,662 · fundraising $23,213

  • 11b · Fees: legal

    total $157,440 · program services $85,440 · management and general $72,000

  • 11c · Fees: accounting

    total $172,417 · program services $89,875 · management and general $44,846 · fundraising $37,696

  • 11g · Fees: other

    total $1,436,405 · program services $1,121,123 · management and general $76,068 · fundraising $239,214

  • 12 · Advertising and promotion

    total $704,721 · program services $704,721

  • 13 · Office expenses

    total $187,294 · program services $28,726 · management and general $5,092 · fundraising $153,476

  • 14 · Information technology

    total $9,947 · program services $5,643 · management and general $2,333 · fundraising $1,971

  • 16 · Occupancy

    total $108,514 · program services $65,884 · management and general $14,887 · fundraising $27,743

  • 17 · Travel

    total $129,485 · program services $77,332 · management and general $12,483 · fundraising $39,670

  • 23 · Insurance

    total $20,722 · management and general $7,655 · fundraising $13,067

  • 24a · Other expenses: EVENTS

    total $492,213 · program services $214,374 · management and general $16,688 · fundraising $261,151

  • 24b · Other expenses: GRAPHICS

    total $99,410 · program services $38,380 · management and general $33,450 · fundraising $27,580

  • 24c · Other expenses: PUBLICATION PRODUCTION

    total $64,101 · program services $47,733 · management and general $5,897 · fundraising $10,471

  • 24d · Other expenses: WEBSITE

    total $600 · fundraising $600

  • 24e · All other expenses

    total $48,132 · management and general $37,997 · fundraising $10,135

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,862,760 · end of year $8,911,552

  • 2 · Savings and temporary cash investments

    beginning of year $2,324,488 · end of year $4,607,655

  • 3 · Pledges and grants receivable

    beginning of year $743,000 · end of year $955,000

  • 4 · Accounts receivable

    beginning of year $139 · end of year $315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $74,322 · end of year $81,669

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

    $34,990

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

    $34,990

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $10,690,365 · end of year $15,588,775

  • 17 · Accounts payable and accrued expenses

    beginning of year $340,907 · end of year $300,355

  • 27 · Net assets without donor restrictions

    beginning of year $16,916,658 · end of year $24,108,914

  • 28 · Net assets with donor restrictions

    beginning of year $5,437,509 · end of year $5,735,697

Mission and programs · 2023

Mission

PRI CHAMPIONS FREEDOM, OPPORTUNITY, AND PERSONAL RESPONSIBILITY BY ADVANCING FREE-MARKET POLICY SOLUTIONS. THE INSTITUTE PROVIDES PRACTICAL SOLUTIONS FOR THE POLICY ISSUES THAT IMPACT THE DAILY LIVES OF ALL AMERICANS AND DEMONSTRATES WHY THE (CONTINUED ON SCHEDULE O) FREE MARKET IS MORE EFFECTIVE THAN THE GOVERNMENT AT PROVIDING THE IMPORTANT RESULTS WE ALL SEEK; GOOD SCHOOLS, QUALITY HEALTH CARE, A CLEAN ENVIRONMENT, AND A ROBUST ECONOMY.

Activities or mission (Part I)

CHAMPIONS FREEDOM, OPPORTUNITY AND RESPONSIBILITY BY ADVANCING FREE-MARKET POLICY SOLUTIONS.

  • THE CENTER FOR HEALTH CARE EXAMINES PUBLIC POLICIES THAT AFFECT AMERICA'S HEALTH-CARE SYSTEM, EXPLAINS HOW THESE POLICIES LIMIT ACCESS TO AFFORDABLE, HIGH-QUALITY HEALTH CARE, AND PRESCRIBES REFORMS THAT RELY ON MARKET-BASED SOLUTIONS.

    Expenses $1,389,170

  • THE CENTER FOR CALIFORNIA REFORM SEEKS TO REINVIGORATE CALIFORNIA'S ENTREPRENEURIAL, SELF-RELIANT TRADITIONS.

    Expenses $280,796

  • THE CENTER FOR EDUCATION WORKS TO RESTORE TO ALL PARENTS THE BASIC RIGHT TO CHOOSE THE BEST EDUCATIONAL OPPORTUNITIES FOR THEIR CHILDREN. THROUGH RESEARCH AND GRASSROOTS OUTREACH, THE INSTITUTE'S SCHOLARS ADVANCE PARENTAL CHOICE IN EDUCATION, HIGH ACADEMIC STANDARDS, CHARTER SCHOOLS, TEACHER QUALITY, AND SCHOOL FINANCE REFORM.

    Expenses $926,466

  • Expenses $772,624

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • PETER C FARRELL PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLARK S JUDGE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • DANIEL M KOLKEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANIEL OLIVER

    CHAIRMAN EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • RICHARD A WALLACE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER WRIGHT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RUSSELL A JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SEAN M MCAVOY

    BOARD SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SALLY C PIPES

    PRESIDENT & CEO

    Total calculated
    $487,934
    From this org
    $473,000
    From related orgs
    $0
    Other
    $14,934
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $473,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,934
    Filer's total
    $487,934

  • STEVEN DENNIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LAWRENCE J SISKIND

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RICHARD SAMUELSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PAUL TOSETTI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINE ZANELLO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROWENA ITCHON

    CHIEF OPERATING OFFICER

    Total calculated
    $335,503
    From this org
    $321,950
    From related orgs
    $0
    Other
    $13,553
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,950
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,553
    Filer's total
    $335,503

  • LANCE T IZUMI

    SENIOR DIRECTOR, CENTER FO

    Total calculated
    $173,250
    From this org
    $173,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,250
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $173,250

  • TIMOTHY R ANAYA

    VICE PRESIDENT, MARKETING

    Total calculated
    $170,995
    From this org
    $163,500
    From related orgs
    $0
    Other
    $7,495
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,495
    Filer's total
    $170,995

  • BENJAMIN SMITHWICK

    VICE PRESIDENT, DEVELOPMEN

    Total calculated
    $224,971
    From this org
    $219,000
    From related orgs
    $0
    Other
    $5,971
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $5,971
    Filer's total
    $224,971

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413129349303731

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