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Nonprofiteer
← AMERICAN ECONOMIC LIBERTIES PROJECT

Form 990 for tax year 2024

Filed by AMERICAN ECONOMIC LIBERTIES PROJECT.

Totals

Total revenue
$4,526,115
Total expenses
$3,666,341
Contributions and grants received
$4,436,984
Grants paid
$0
Program service revenue
$22,486
Investment income
$66,645
Other revenue
$0
Total assets, end of year
$4,196,831
Total liabilities, end of year
$406,841
Net assets or fund balances, end of year
$3,789,990
Program services expenses (Part IX)
$3,231,429
Management and general expenses
$408,571
Fundraising expenses
$26,341
Program service expenses (Part III)
$3,231,429

Program services were 88.1% 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.

  • 1f · All other contributions, gifts and grants

    $4,436,984

  • 2a · Program service revenue: REGISTRATION FEES

    total $22,486 · related or exempt $22,486

  • 3 · Investment income

    total $66,645 · excluded $66,645

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $207,863 · program services $196,669 · management and general $9,330 · fundraising $1,864

  • 7 · Other salaries and wages

    total $1,618,432 · program services $1,538,178 · management and general $65,030 · fundraising $15,224

  • 8 · Pension plan contributions

    total $46,852 · program services $44,223 · management and general $2,191 · fundraising $438

  • 9 · Other employee benefits

    total $249,048 · program services $235,076 · management and general $11,645 · fundraising $2,327

  • 10 · Payroll taxes

    total $145,713 · program services $137,539 · management and general $6,813 · fundraising $1,361

  • 11b · Fees: legal

    total $29,039 · program services $10,000 · management and general $19,039

  • 11c · Fees: accounting

    total $50,173 · management and general $50,173

  • 11d · Fees: lobbying

    total $46,000 · program services $46,000

  • 11e · Fees: professional fundraising services

    total $4,350 · fundraising $4,350

  • 11g · Fees: other

    total $657,197 · program services $535,319 · management and general $121,878

  • 12 · Advertising and promotion

    total $76,179 · program services $62,548 · management and general $13,631

  • 13 · Office expenses

    total $8,120 · program services $3,382 · management and general $4,738

  • 14 · Information technology

    total $89,241 · program services $26,585 · management and general $62,656

  • 16 · Occupancy

    total $117,350 · program services $111,446 · management and general $5,134 · fundraising $770

  • 17 · Travel

    total $56,521 · program services $54,977 · management and general $1,544

  • 19 · Conferences, conventions and meetings

    total $221,206 · program services $200,310 · management and general $20,889 · fundraising $7

  • 22 · Depreciation, depletion and amortization

    total $859 · management and general $859

  • 23 · Insurance

    total $8,276 · management and general $8,276

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $20,752 · program services $20,752

  • 24e · All other expenses

    total $13,170 · program services $8,425 · management and general $4,745

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,589,325 · end of year $3,904,279

  • 3 · Pledges and grants receivable

    beginning of year $525,000 · end of year $78,000

  • 4 · Accounts receivable

    beginning of year $8,357 · end of year $5,914

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,143 · end of year $40,591

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

    $11,200

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

    $9,221

  • 10c · Land, buildings and equipment, net

    beginning of year $1,461 · end of year $1,979

  • 15 · Other assets

    beginning of year $282,927 · end of year $166,068

  • 17 · Accounts payable and accrued expenses

    beginning of year $171,421 · end of year $221,876

  • 25 · Other liabilities

    beginning of year $321,576 · end of year $184,965

  • 27 · Net assets without donor restrictions

    beginning of year $2,244,617 · end of year $3,406,620

  • 28 · Net assets with donor restrictions

    beginning of year $685,599 · end of year $383,370

Mission and programs · 2024

Mission

THE AMERICAN ECONOMIC LIBERTIES PROJECT'S EDUCATIONAL AND CHARITABLE PURPOSES ARE TO RESEARCH ECONOMIC CONCENTRATION IN AMERICA, AND STUDY THE HISTORY OF COMPETITION POLICY, FROM THE FOUNDING UNTIL TODAY.

Activities or mission (Part I)

TO RESEARCH ECONOMIC CONCENTRATION IN AMERICA, AND STUDY THE HISTORY OF COMPETITION POLICY, FROM THE FOUNDING UNTIL TODAY.

  • TO SUPPORT ITS EDUCATIONAL AND CHARITABLE PURPOSES, AELP'S POLICY WORK CONTINUED TO FOCUS ON ISSUES LIKE ANTITRUST REFORM, JUNK FEES, DRUG PRICING AND SHORTAGES, NONCOMPETES, DIGITAL TRADE, LABOR AND INDUSTRIAL POLICY. AELP PRODUCED 44 REPORTS, POLICY BRIEFS, ACADEMIC PAPERS, POLICY DIGESTS, AND FACT SHEETS, SUBMITTED 7 COMMENTS TO VARIOUS AGENCIES, AND LED OR JOINED 68 LETTERS ON KEY POLICY FIGHTS. AELP ALSO HOSTED 8 POLICY BRIEFINGS ON TOPICS SUCH AS DOJ'S TRIAL AGAINST GOOGLE, THE HARMS OF PHARMACY BENEFIT MANAGERS, AND HOW TO BAN JUNK FEES.TO SHAPE THE NARRATIVE AROUND ADDRESSING CORPORATE POWER BROADLY AND A NUMBER OF POLICY GOALS SPECIFICALLY, AELP'S PROLIFIC STRATEGIC COMMUNICATIONS OPERATION INCLUDED 60 ARTICLES AND OP-EDS, 991 EARNED PRINT MENTIONS AND 102 TV, RADIO AND PODCAST HITS, VIDEO PARTNERSHIPS WITH OTHER NONPROFITS THAT GENERATED 374,000+ SOCIAL MEDIA VIEW, AND SUPPORTED STAFF NEWSLETTERS WITH 171,000+ SUBSCRIBERS. AELP WORKS IN PARTNERSHIP WITH ALLIED ORGANIZATIONS ON POLICY PRIORITIES, ISSUE CAMPAIGNS, AND EVENTS.

    Expenses $3,231,429 · Revenue $22,486

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ross Baird

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Laura Campos

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ronald Newman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brandi Collins-Dexter

    DIRECTOR (THRU AUG 2024)

    Total calculated
    $0
    Hours/week
    1

  • Laleh Ispahani

    DIRECTOR (THRU AUG 2024)

    Total calculated
    $0
    Hours/week
    1

  • Nidhi Hegde

    INTERIM EXECUTIVE DIRECTOR FROM JAN 2024)

    Total calculated
    $199,530
    From this org
    $175,515
    From related orgs
    $0
    Other
    $24,015
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,515
    Bonus
    $0
    Other
    $0
    Deferred
    $5,219
    Nontaxable benefits
    $18,796
    Filer's total
    $199,530

  • Faiz Shakir

    INTERIM EXECUTIVE DIRECTOR (THRU JAN 2024)

    Total calculated
    $8,333
    From this org
    $8,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Patrick Garofalo

    DIRECTOR, STATE AND LOCAL

    Total calculated
    $157,027
    From this org
    $127,657
    From related orgs
    $0
    Other
    $29,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,657
    Bonus
    $0
    Other
    $0
    Deferred
    $4,985
    Nontaxable benefits
    $24,385
    Filer's total
    $157,027

  • Lori Wallach

    DIRECTOR, RETHINK TRADE

    Total calculated
    $178,219
    From this org
    $153,072
    From related orgs
    $0
    Other
    $25,147
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,072
    Bonus
    $0
    Other
    $0
    Deferred
    $6,051
    Nontaxable benefits
    $19,096
    Filer's total
    $178,219

  • Matthew Stoller

    DIRECTOR, RESEARCH

    Total calculated
    $180,922
    From this org
    $148,475
    From related orgs
    $0
    Other
    $32,447
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,475
    Bonus
    $0
    Other
    $0
    Deferred
    $5,876
    Nontaxable benefits
    $26,571
    Filer's total
    $180,922

  • Morgan Harper

    DIRECTOR, POLICY & ADVOCACY

    Total calculated
    $162,676
    From this org
    $148,558
    From related orgs
    $0
    Other
    $14,118
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,558
    Bonus
    $0
    Other
    $0
    Deferred
    $4,748
    Nontaxable benefits
    $9,370
    Filer's total
    $162,676

  • Lee Hepner

    SENIOR LEGAL COUNSEL (FROM MAR 2024)

    Total calculated
    $137,321
    From this org
    $124,638
    From related orgs
    $0
    Other
    $12,683
    Hours/week
    40

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 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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD OR COMMITTEE SHALL: (I) RECUSE AND EXCLUDE ANY PERSONS WHO RECEIVE DIRECTLY OR INDIRECTLY A SUBSTANTIAL PORTION OF THEIR INCOME FROM THE CORPORATION; (II) RELY ON APPROPRIATE COMPARATIVE DATA, INCLUDING COMPARABLE AGREEMENTS IN SIMILAR ORGANIZATIONS; COMPENSATION LEVELS FOR SIMILAR POSITIONS IN BOTH EXEMPT AND TAXABLE ORGANIZATIONS; AND REGIONAL ECONOMIC DATA; (III) DOCUMENT THE BASES UPON WHICH THE BOARD (OR COMMITTEE) RELIES FOR ITS COMPENSATION DETERMINATIONS; AND (IV) RECORD THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE COMPENSATION AND TALLIES OF ANY VOTES TAKEN DURING CONSIDERATION OF THE COMPENSATION.

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
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523189349314077

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