← AMERICAN INSTITUTE FOR ECONOMIC RESEARCH INC

Form 990 for tax year 2022

Filed by AMERICAN INSTITUTE FOR ECONOMIC RESEARCH INC.

Totals

Total revenue: $3,395,556
Total expenses: $8,551,275
Contributions and grants received: $1,948,990
Grants paid: $203,985
Program service revenue: $72,986
Investment income: $1,384,094
Other revenue: -$10,514
Total assets, end of year: $184,181,536
Total liabilities, end of year: $74,928,340
Net assets or fund balances, end of year: $109,253,196
Program services expenses (Part IX): $6,207,196
Management and general expenses: $1,255,312
Fundraising expenses: $1,088,767
Program service expenses (Part III): $6,207,196

Program services were 72.6% 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

$1,948,990
1g · Noncash contributions included above

$331,235
2a · Program service revenue: SALES OF PUBLICATIONS

total $72,986 · related or exempt $72,986
3 · Investment income

total $595,765 · excluded $595,765
6a · Gross rents

real property $319,240
6b · Less rental expenses

real property $508,473
6c · Rental income or loss

real property -$189,233
6d · Net rental income or loss

total -$189,233 · unrelated business $47,496 · excluded -$236,729
7a · Gross sales of assets other than inventory

securities $15,872,517
7b · Less cost or other basis and sales expenses

securities $15,084,188
7c · Gain or loss

securities $788,329
7d · Net gain or loss

total $788,329 · excluded $788,329
11a · Other revenue: CHARITABLE REMAINDER INCOME

total $71,788 · excluded $71,788
11b · Other revenue: REIMBURSE FACILITIES

total $53,619 · excluded $53,619
11c · Other revenue: MANAGEMENT REVENUE

total $53,312 · unrelated business $53,312
11e · Other revenue, total

$178,719

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $149,420 · program services $149,420
3 · Grants to foreign organizations and individuals

total $54,565 · program services $54,565
5 · Compensation of officers, directors and key employees

total $869,573 · program services $467,325 · management and general $259,741 · fundraising $142,507
7 · Other salaries and wages

total $2,982,975 · program services $2,367,516 · management and general $313,731 · fundraising $301,728
8 · Pension plan contributions

total $69,757 · management and general $69,757
9 · Other employee benefits

total $503,372 · program services $372,754 · management and general $66,979 · fundraising $63,639
10 · Payroll taxes

total $272,184 · program services $205,803 · management and general $36,940 · fundraising $29,441
11b · Fees: legal

total $156,806 · program services $20,709 · management and general $135,134 · fundraising $963
11c · Fees: accounting

total $49,017 · management and general $49,017
11f · Fees: investment management

total $74,388 · management and general $74,388
11g · Fees: other

total $863,149 · program services $574,359 · management and general $22,644 · fundraising $266,146
12 · Advertising and promotion

total $65,464 · program services $4,726 · fundraising $60,738
13 · Office expenses

total $143,199 · program services $85,907 · management and general $15,597 · fundraising $41,695
14 · Information technology

total $310,714 · program services $249,670 · management and general $36,003 · fundraising $25,041
16 · Occupancy

total $334,697 · program services $267,310 · management and general $35,298 · fundraising $32,089
17 · Travel

total $736,642 · program services $675,841 · management and general $8,746 · fundraising $52,055
19 · Conferences, conventions and meetings

total $63,194 · program services $39,355 · fundraising $23,839
22 · Depreciation, depletion and amortization

total $316,251 · program services $249,838 · management and general $34,788 · fundraising $31,625
23 · Insurance

total $93,302 · program services $45,952 · management and general $42,509 · fundraising $4,841
24a · Other expenses: PUBLICATIONS

total $170,916 · program services $170,916
24b · Other expenses: HONORARIUMS AND STIPEND

total $92,702 · program services $92,702
24c · Other expenses: PUBLIC RELATIONS

total $85,583 · program services $77,025 · fundraising $8,558
24d · Other expenses: TRUSTEE REIMBURSEMENT

total $59,645 · program services $4,874 · management and general $54,154 · fundraising $617
24e · All other expenses

total $33,760 · program services $30,629 · management and general -$114 · fundraising $3,245

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $477 · end of year $708
2 · Savings and temporary cash investments

beginning of year $5,658,665 · end of year $5,561,029
4 · Accounts receivable

beginning of year $569,573 · end of year $429,098
9 · Prepaid expenses and deferred charges

beginning of year $98,023 · end of year $194,740
10a · Land, buildings and equipment: cost or other basis

$10,270,564
10b · Land, buildings and equipment: accumulated depreciation

$4,251,284
10c · Land, buildings and equipment, net

beginning of year $5,725,679 · end of year $6,019,280
11 · Investments: publicly traded securities

beginning of year $32,029,067 · end of year $28,954,124
12 · Investments: other securities

beginning of year $168,546,922 · end of year $141,202,983
15 · Other assets

beginning of year $1,767,541 · end of year $1,819,574
17 · Accounts payable and accrued expenses

beginning of year $711,575 · end of year $812,042
25 · Other liabilities

beginning of year $94,308,626 · end of year $74,116,298
27 · Net assets without donor restrictions

beginning of year $45,144,950 · end of year $42,172,111
28 · Net assets with donor restrictions

beginning of year $74,230,796 · end of year $67,081,085

Mission and programs · 2022

Mission

AMERICAN INSTITUTE FOR ECONOMIC RESEARCH (AIER) EDUCATES PEOPLE ON THE VALUE OF PERSONAL FREEDOM, FREE ENTERPRISE, PROPERTY RIGHTS, LIMITED GOVERNMENT AND SOUND MONEY. AIER'S ONGOING SCIENTIFIC RESEARCH DEMONSTRATES THE IMPORTANCE OF THESE PRINCIPLES IN ADVANCING PEACE, PROSPERITY AND HUMAN PROGRESS.

Activities or mission (Part I)

AIER CONDUCTS INDEPENDENT, SCIENTIFIC, ECONOMIC RESEARCH TO EDUCATE PEOPLE, THEREBY ADVANCING THEIR PERSONAL INTERESTS AND THOSE OF THE NATION.

RESEARCH REPORTS AND BULLETINS - PREPARATION AND DISTRIBUTION OF PERIODIC ECONOMIC REPORTS AND OCCASIONAL BOOKLETS FOCUSED ON SELECTED TOPICS IN THE AREAS OF FISCAL AND MONETARY ECONOMICS, INCLUDING PERSONAL ECONOMIC ISSUES. THESE ARE DISTRIBUTED TO MEMBERS AND THE GENERAL PUBLIC. DURING 2022, APPROXIMATELY 626,040 INDIVIDUALS, INSTITUTIONS AND PUBLISHERS RECEIVED THE REPORTS AND MORE THAN 3,638,031 READERS VISITED AIER'S WEBSITE.

Expenses $3,450,877 · Revenue $72,986
ACADEMIC PROGRAMS - DURING 2022, AIER PROVIDED EDUCATIONAL OPPORTUNITIES FOR OVER 6,200 PARTICIPANTS/ATTENDEES. THROUGH OUR TEACH THE TEACHERS PROGRAM, 151 EDUCATORS SUCCESSFULLY COMPLETED COURSES DEALING WITH PRACTICAL ECONOMIC TOPICS WHICH THEY CAN USE FOR THEIR ESTIMATED 18,000 STUDENTS. THE BASTIAT SOCIETY AT AIER ORGANIZES AND HOSTS EDUCATION EVENTS FOR THE GENERAL BUSINESS COMMUNITY IN 35 CITIES AROUND THE WORLD. DURING THE YEAR, THIS PROGRAM HELD 157 EVENTS ATTRACTING OVER 5,400 PEOPLE. IN ADDITION, AIER WELCOMED 400 STUDENTS, SCHOLARS, AND MEMBERS OF THE PUBLIC TO ITS CAMPUS TO ATTEND VARIOUS COLLOQUIA, WORKSHOPS, AND FORUMS. AIER ALSO HOSTED 41 VISITING RESEARCHERS AND 13 INTERNS. AIER'S SOUND MONEY PROJECT CONDUCTS RESEARCH AND PROMOTES AWARENESS ABOUT MONETARY STABILITY AND FINANCIAL PRIVACY. THE PROJECT IS COMPRISED OF LEADING ACADEMICS AND PRACTITIONERS IN MONEY, BANKING AND MACROECONOMICS. IT OFFERS REGULAR COMMENTARY AND IN-DEPTH ANALYSIS ON MONETARY POLICY, ALTERNATIVE MONETARY SYSTEMS, FINANCIAL MARKETS REGULATIONS, CRYPTOCURRENCIES, AND THE HISTORY OF MONETARY AND MACROECONOMIC THOUGHT. MEMBERS OF THE PROJECT HAVE CONTRIBUTED ONE HUNDRED TWELVE ARTICLES TO AIER.ORG DURING 2022.

Expenses $2,756,319 · Grants $203,985

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

William RugerWILLIAM RUGER

PRESIDENT

Total calculated

$423,643

From this org

$409,012

From related orgs

$0

Other

$14,631

Hours/week

40

Schedule J breakdown matched by us

Base

$392,212

Bonus

$0

Other

$16,800

Deferred

$12,200

Nontaxable benefits

$2,431

Filer's total

$423,643
Michele M KearnsMICHELE M KEARNS

VICE PRESIDENT, FINANCE

Total calculated

$218,796

From this org

$187,697

From related orgs

$0

Other

$31,099

Hours/week

40

Schedule J breakdown matched by us

Base

$187,697

Bonus

$0

Other

$0

Deferred

$7,955

Nontaxable benefits

$23,144

Filer's total

$218,796
Phillip MagnessPHILLIP MAGNESS

DIRECTOR OF RESEARCH & EDUCATION

Total calculated

$210,335

From this org

$192,859

From related orgs

$0

Other

$17,476

Hours/week

40

Schedule J breakdown matched by us

Base

$192,859

Bonus

$0

Other

$0

Deferred

$7,772

Nontaxable benefits

$9,704

Filer's total

$210,335
Bradley J DevosBRADLEY J DEVOS

DIRECTOR OF PROGRAMS

Total calculated

$214,729

From this org

$183,960

From related orgs

$0

Other

$30,769

Hours/week

40

Schedule J breakdown matched by us

Base

$183,960

Bonus

$0

Other

$0

Deferred

$7,760

Nontaxable benefits

$23,009

Filer's total

$214,729
Thomas L HoganTHOMAS L HOGAN

SENIOR RESEARCH FACULTY

Total calculated

$167,446

From this org

$153,176

From related orgs

$0

Other

$14,270

Hours/week

40

Schedule J breakdown matched by us

Base

$153,176

Bonus

$0

Other

$0

Deferred

$6,262

Nontaxable benefits

$8,008

Filer's total

$167,446
Robert J HughesROBERT J HUGHES

SENIOR RESEARCH FACULTY

Total calculated

$147,297

From this org

$146,730

From related orgs

$0

Other

$567

Hours/week

40
Jason KellyJASON KELLY

DATA & ANALYTICS DIRECTOR

Total calculated

$143,314

From this org

$128,706

From related orgs

$0

Other

$14,608

Hours/week

40
Laurie B PshenishnyLAURIE B PSHENISHNY

ASSISTANT COMPTROLLER

Total calculated

$142,722

From this org

$124,036

From related orgs

$0

Other

$18,686

Hours/week

40
Ryan YonkRYAN YONK

SENIOR RESEARCH FACULTY

Total calculated

$117,452

From this org

$112,222

From related orgs

$0

Other

$5,230

Hours/week

40
Gregory M Van KipnisGREGORY M VAN KIPNIS

CHAIR

Total calculated

$0

Hours/week

10
Stephen C MillerSTEPHEN C MILLER

SECRETARY

Total calculated

$0

Hours/week

10
Katherine H DelayKATHERINE H DELAY

TRUSTEE

Total calculated

$0

Hours/week

5
Latimer B EddyLATIMER B EDDY

TRUSTEE

Total calculated

$0

Hours/week

5
Nelson E FurlanoNELSON E FURLANO

TRUSTEE

Total calculated

$0

Hours/week

5
Douglas L HarwoodDOUGLAS L HARWOOD

TRUSTEE

Total calculated

$0

Hours/week

5
Bradley K HobbsBRADLEY K HOBBS

TRUSTEE

Total calculated

$0

Hours/week

5
James C LordemanJAMES C LORDEMAN

TRUSTEE

Total calculated

$0

Hours/week

5
Surse T PierpointSURSE T PIERPOINT

TRUSTEE

Total calculated

$0

Hours/week

5
Benjamin W PowellBENJAMIN W POWELL

TRUSTEE

Total calculated

$0

Hours/week

5
Gerald Sohan Thru 1022GERALD SOHAN THRU 1022

TRUSTEE

Total calculated

$0

Hours/week

5

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

1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Approval by the board or compensation committee
7 · Other non-fixed payments

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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7: DISCRETIONARY BONUS WAS PAID TO CERTAIN EMPLOYEES.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

AMERICAN INVESTMENT SERVICES INC

C · INVESTMENT MANAGEMENT SERVICES · DE · 100% owned · share of income $3,991,458 · share of assets $3,007,563 · controlled entity

Directly controlled by AMERICAN INSTITUTE FOR ECONOMIC RESEARCH

Provenance

Return type: form_990
Tax year: 2022
Filed: 8 May 2023
IRS schema version: 2022v5.0
Source object: 202321319349307717

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