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← Rule of Law Trust

Form 990 for tax year 2024

Filed by Rule of Law Trust.

Totals

Total revenue
$7,864,959
Total expenses
$16,253,155
Contributions and grants received
$0
Grants paid
$15,150,000
Program service revenue
$0
Investment income
$7,864,959
Other revenue
$0
Total assets, end of year
$174,002,529
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$174,002,529
Program services expenses (Part IX)
$15,602,300
Management and general expenses
$650,855
Fundraising expenses
$0
Program service expenses (Part III)
$15,602,300

Program services were 96.0% 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.

  • 3 · Investment income

    total $7,864,959 · related or exempt $0 · unrelated business $0 · excluded $7,864,959

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,150,000 · program services $15,150,000

  • 11b · Fees: legal

    total $17,779 · program services $2,667 · management and general $15,112 · fundraising $0

  • 11c · Fees: accounting

    total $43,705 · program services $0 · management and general $43,705 · fundraising $0

  • 11g · Fees: other

    total $516,133 · program services $387,100 · management and general $129,033 · fundraising $0

  • 13 · Office expenses

    total $90,912 · program services $13,637 · management and general $77,275 · fundraising $0

  • 14 · Information technology

    total $110,482 · program services $16,572 · management and general $93,910 · fundraising $0

  • 16 · Occupancy

    total $96,287 · program services $14,443 · management and general $81,844

  • 17 · Travel

    total $119,205 · program services $17,881 · management and general $101,324 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $108,652 · program services $0 · management and general $108,652 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,484,658 · end of year $340,155

  • 2 · Savings and temporary cash investments

    beginning of year $1,091,000 · end of year $1,105,407

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $108,651

  • 11 · Investments: publicly traded securities

    beginning of year $158,245,932 · end of year $170,196,458

  • 12 · Investments: other securities

    beginning of year $3,194,099 · end of year $2,360,509

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $170,124,340 · end of year $174,002,529

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

To advance conservative principles and causes through communications, research, strategy and assistance to other organizations.

  • Supported projects and conducted research and communications that advanced conservative principles.

    Expenses $15,602,300 · Grants $15,150,000

As filed on the 2024 return.

Listed in Part VII

  • Leonard Leo

    Trustee

    Total calculated
    $500,000
    From this org
    $0
    From related orgs
    $500,000
    Other
    $0
    Hours/week
    10 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $500,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $500,000 related

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

None.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Marble Freedom Trust

    501(c)(4) · Maintain & expand human freedom consistent with The Declaration of Independence & US Constitution · UT

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.0
Source object
202523219349303432

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