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Nonprofiteer
← INDEPENDENT INSTITUTE

Form 990 for tax year 2023

Filed by INDEPENDENT INSTITUTE.

Totals

Total revenue
$9,041,220
Total expenses
$5,328,241
Contributions and grants received
$8,421,321
Grants paid
$0
Program service revenue
$59,636
Investment income
$564,143
Other revenue
-$3,880
Total assets, end of year
$12,658,115
Total liabilities, end of year
$838,450
Net assets or fund balances, end of year
$11,819,665
Program services expenses (Part IX)
$4,252,456
Management and general expenses
$508,443
Fundraising expenses
$567,342
Program service expenses (Part III)
$4,252,456

Program services were 79.8% 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

    $8,421,321

  • 1g · Noncash contributions included above

    $1,515,486

  • 2a · Program service revenue: SUBSCRIPTIONS & ROYALTIES

    total $59,636 · related or exempt $59,636

  • 3 · Investment income

    total $288,729 · excluded $288,729

  • 7a · Gross sales of assets other than inventory

    securities $2,278,338

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

    securities $2,002,924

  • 7c · Gain or loss

    securities $275,414

  • 7d · Net gain or loss

    total $275,414 · excluded $275,414

  • 10a · Gross sales of inventory

    $100,319

  • 10b · Cost of goods sold

    $104,199

  • 10c · Net income from sales of inventory

    total -$3,880 · related or exempt -$3,880

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $441,755 · program services $329,285 · management and general $62,467 · fundraising $50,003

  • 7 · Other salaries and wages

    total $1,937,447 · program services $1,531,297 · management and general $246,893 · fundraising $159,257

  • 9 · Other employee benefits

    total $146,629 · program services $120,453 · management and general $11,225 · fundraising $14,951

  • 10 · Payroll taxes

    total $163,141 · program services $129,854 · management and general $18,245 · fundraising $15,042

  • 11c · Fees: accounting

    total $151,760 · program services $25,903 · management and general $118,015 · fundraising $7,842

  • 11g · Fees: other

    total $1,484,770 · program services $1,410,143 · management and general $24,126 · fundraising $50,501

  • 12 · Advertising and promotion

    total $436,890 · program services $348,224 · management and general $2,519 · fundraising $86,147

  • 13 · Office expenses

    total $29,228 · program services $18,719 · management and general $2,529 · fundraising $7,980

  • 16 · Occupancy

    total $11,025 · program services $9,057 · management and general $844 · fundraising $1,124

  • 17 · Travel

    total $179,383 · program services $138,268 · management and general $8,823 · fundraising $32,292

  • 20 · Interest

    total $14,994 · program services $12,317 · management and general $1,148 · fundraising $1,529

  • 22 · Depreciation, depletion and amortization

    total $79,438 · program services $65,257 · management and general $6,081 · fundraising $8,100

  • 23 · Insurance

    total $18,162 · program services $14,920 · management and general $1,390 · fundraising $1,852

  • 24a · Other expenses: DIRECT MAILINGS

    total $159,454 · program services $45,192 · management and general $20 · fundraising $114,242

  • 24b · Other expenses: SUBSCRIPTIONS & MEMBERS

    total $30,176 · program services $25,060 · management and general $1,582 · fundraising $3,534

  • 24c · Other expenses: VOICE & DATA LINES

    total $14,916 · program services $12,377 · management and general $1,089 · fundraising $1,450

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $11,693 · program services $9,606 · management and general $895 · fundraising $1,192

  • 24e · All other expenses

    total $17,380 · program services $6,524 · management and general $552 · fundraising $10,304

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $106,664 · end of year $592,102

  • 2 · Savings and temporary cash investments

    beginning of year $2,081,301 · end of year $4,312,964

  • 3 · Pledges and grants receivable

    beginning of year $190,000 · end of year $955,000

  • 4 · Accounts receivable

    beginning of year $218,576 · end of year $29,418

  • 8 · Inventories for sale or use

    beginning of year $195,826 · end of year $180,800

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,953 · end of year $56,094

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

    $286,015

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

    $212,948

  • 10c · Land, buildings and equipment, net

    beginning of year $71,297 · end of year $73,067

  • 11 · Investments: publicly traded securities

    beginning of year $5,187,472 · end of year $6,102,858

  • 15 · Other assets

    beginning of year $94,887 · end of year $355,812

  • 17 · Accounts payable and accrued expenses

    beginning of year $452,500 · end of year $475,954

  • 25 · Other liabilities

    beginning of year $94,969 · end of year $362,496

  • 27 · Net assets without donor restrictions

    beginning of year $6,491,710 · end of year $7,607,347

  • 28 · Net assets with donor restrictions

    beginning of year $1,162,797 · end of year $4,212,318

Mission and programs · 2023

Mission

ESTABLISHED IN THE ENTREPRENEURIAL SPIRIT OF ITS HOME IN SILICON VALLEY, THE NON-PROFIT, NON-PARTISAN INDEPENDENT INSTITUTE EMPLOYS INNOVATIVE THINKING TO BOLDLY ADVANCE PEACEFUL, PROSPEROUS, AND FREE SOCIETIES GROUNDED IN A COMMITMENT TO HUMAN WORTH AND DIGNITY.

Activities or mission (Part I)

ADVANCE PEACEFUL, PROSPEROUS, & FREE SOCIETIES GROUNDED IN A COMMITMENT TO HUMAN WORTH & DIGNITY.

  • DISSEMINATING IDEAS: INDEPENDENT DEPLOYS BEST-IN-CLASS TRANSMEDIA CAMPAIGNS TO CONNECT ITS RIGOROUS RESEARCH TO TARGETED AUDIENCES, ENCOURAGING THE APPLICATION OF THESE IDEAS INTO THE CULTURE AND COMMUNITY IN WINNING THE BATTLE OF IDEAS. THESE ACTIVITIES INCLUDE PUBLISHING THE WORK IN VARIOUS FORMATS (BOOK, JOURNAL ARTICLE, OR OTHER PUBLICATION), AND THEN AGGRESSIVELY MARKETING THE RESULTS TO POSITION THE FINDINGS ACROSS MAJOR OPINION AUDIENCES. INDEPENDENT ORGANIZES CONFERENCES AND MEDIA PROGRAMS, AND REPACKAGES THE FINDINGS TO COMMUNICATE TO DIFFERENT KINDS AND LEVELS OF AUDIENCES. WE UTILIZE ONLINE PLATFORMS AND SOCIAL MEDIA IN TARGETING AUDIENCES ON THOSE MATTERS THAT WILL DIRECTLY AFFECT THEM. THESE ACTIVITIES ATTRACT OVER 1 MILLION WEBSITE VISITORS, HALF A MILLION SOCIAL MEDIA FOLLOWERS, AND 5.5 BILLION MEDIA IMPRESSIONS PER YEAR.

    Expenses $1,863,879 · Revenue $54,779

  • SPARKING ENTREPRENEURSHIP & INNOVATION: INDEPENDENT REVERSES GOVERNMENT GROWTH BY SPOTLIGHTING WRONGDOING AND OFFERING PRACTICAL, TECH-FORWARD SOLUTIONS GROUNDED IN NATURAL LAW. WE GENERATE SOLUTIONS IN BUSINESS, HOUSING, HEALTHCARE, ENTITLEMENTS, THE ENVIRONMENT, AND GLOBAL PROSPERITY. OUR CALIFORNIA GOLDEN FLEECE AWARDS, AWARD-WINNING BOOKS, STUDIES, SPANISH WEBSITE, AND MULTI-MEDIA CAMPAIGNS SHARE OUR SOLUTIONS WITH CIVIC LEADERS, THE MEDIA, AND THE PUBLIC. OUR WORK HAS BEEN INTRODUCED IN NATIONAL LEGISLATION, CONTRIBUTED TO THE ELIMINATION OF THE INDIVIDUAL HEALTHCARE MANDATE, MOTIVATED REFORM IN THE CALIFORNIA DEPARTMENT OF WATER RESOURCES AND DEPARTMENT OF FORESTRY AND FIREPREVENTION, AND HAS BEEN SIGNED INTO LAW IN CALIFORNIA.

    Expenses $1,075,124 · Revenue $755

  • EDUCATING THE NEXT GENERATION: INDEPENDENT ENGAGES AND INSPIRES YOUNG PEOPLE AND PARENTS WITH THE PRINCIPLES OF LIBERTY, AND EMPOWERS PARENTS TO SELECT THE BEST EDUCATION FOR THEIR CHILDREN. OUR SATIRICAL YOUTUBE SERIES, LOVE GOV, APPLIES FREE-MARKET THINKING TO HOUSING, EMPLOYMENT, HEALTHCARE, EDUCATION, AND PRIVACY, AND HAS ACHIEVED WELL OVER 7.4 MILLION VIEWS PRIMARILY FROM MILLENNIALS. THIS YEAR, WE LAUNCH LOVE GOV SEASON TWO WITH A COMPLEMENTARY WEBSITE AND SOCIAL MEDIA PORTFOLIO. OUR INTERNSHIPS AND YOUTH-FOCUSED EVENTS OFFER HANDS-ON LEARNING, AND OUR EFFORTS TO BUILD AWARENESS FOR SCHOOL CHOICE, AFFORDABLE PRIVATE SCHOOLMODELS, AND HIGHER EDUCATION REFORMS ARE EXPANDING EDUCATIONAL OPPORTUNITY FOR ALL.

    Expenses $855,948

  • DEFENDING CIVIL LIBERTIES: INDEPENDENT REMINDS THE PUBLIC, MEDIA, AND CIVIC LEADERS ABOUT CONSTITUTIONAL LIMITS ON GOVERNMENT AND THE CIVIL LIBERTIES THOSE LIMITS PROTECT. OUR PRINCIPLED, PEER-REVIEWED RESEARCH CRITICALLY REVIEWS POLICIES AND APPROACHES TO TORT LIABILITY, CRIMINALJUSTICE, CONSTITUTIONAL LAW, PROPERTY RIGHTS, CIVIL LIBERTIES, FOREIGN POLICY, AND HUMAN MORALITY TO PRESERVE AND EXPAND INDIVIDUAL LIBERTY.OUR RESEARCH AND SOLUTIONS ARE DISSEMINATED THROUGH AWARD-WINNING BOOKS, STUDIES, EVENTS, REGIONAL AND NATIONAL MULTI-MEDIA CAMPAIGNS, AND HAVE INSPIRED LEGISLATIVE TESTIMONY BEFORE A U.S. HOUSE COMMITTEE, SENATE JUDICIARY COMMITTEE, AND HAVE BEEN CITED MULTIPLE TIMES BY THEU.S. SUPREME COURT.

    Expenses $457,505 · Revenue $222

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

Listed in Part VII

  • Graham Walker

    PRESIDENT

    Total calculated
    $276,649
    From this org
    $262,930
    From related orgs
    $0
    Other
    $13,719
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,885
    Bonus
    $61,045
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,719
    Filer's total
    $276,649

  • John Hagel III JD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sally Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Susan Solinsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Teece PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Theroux

    CHAIRMAN & CEO

    Total calculated
    $0
    Hours/week
    40

  • Sarah O'Dowd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Cassling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brad Devos

    COO

    Total calculated
    $0
    Hours/week
    40

  • Phillip Magness

    DJT CHAIR

    Total calculated
    $0
    Hours/week
    40

  • Williamson Evers

    SENIOR FELLOW

    Total calculated
    $206,519
    From this org
    $190,911
    From related orgs
    $0
    Other
    $15,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,911
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,608
    Filer's total
    $206,519

  • Ivan Eland

    SENIOR FELLOW

    Total calculated
    $164,993
    From this org
    $150,503
    From related orgs
    $0
    Other
    $14,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,503
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,490
    Filer's total
    $164,993

  • Lawrence J McQuillan

    SENIOR FELLOW

    Total calculated
    $145,485
    From this org
    $131,726
    From related orgs
    $0
    Other
    $13,759
    Hours/week
    40

  • Jacob Turnrose

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $115,325
    From this org
    $100,835
    From related orgs
    $0
    Other
    $14,490
    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

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 November 2024
IRS schema version
2023v5.1
Source object
202433329349301033

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