Form 990 for tax year 2024
Filed by AMERICAN INSTITUTE FOR ECONOMIC RESEARCH INC.
Totals
- Total revenue
- $5,149,493
- Total expenses
- $8,720,217
- Contributions and grants received
- $3,231,426
- Grants paid
- $52,491
- Program service revenue
- $100,503
- Investment income
- $1,978,538
- Other revenue
- -$160,974
- Total assets, end of year
- $199,167,146
- Total liabilities, end of year
- $83,110,796
- Net assets or fund balances, end of year
- $116,056,350
- Program services expenses (Part IX)
- $6,856,571
- Management and general expenses
- $980,108
- Fundraising expenses
- $883,538
- Program service expenses (Part III)
- $6,856,571
Program services were 78.6% 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
$3,231,426
-
1g · Noncash contributions included above
$331,197
-
2a · Program service revenue: SALES OF PUBLICATIONS
total $59,617 · related or exempt $59,617
-
2b · Program service revenue: ACADEMIC PROGRAMS
total $40,886 · related or exempt $40,886
-
3 · Investment income
total $1,048,193 · excluded $1,048,193
-
6a · Gross rents
real property $185,062
-
6b · Less rental expenses
real property $479,103
-
6c · Rental income or loss
real property -$294,041
-
6d · Net rental income or loss
total -$294,041 · unrelated business -$70,507 · excluded -$223,534
-
7a · Gross sales of assets other than inventory
securities $4,210,506
-
7b · Less cost or other basis and sales expenses
securities $3,280,161
-
7c · Gain or loss
securities $930,345
-
7d · Net gain or loss
total $930,345 · excluded $930,345
-
11a · Other revenue: MANAGEMENT REVENUE
total $86,970 · unrelated business $86,970
-
11b · Other revenue: CHARITABLE REMAINDER INCOME
total $28,856 · excluded $28,856
-
11c · Other revenue: OTHER REVENUE
total $17,241 · excluded $17,241
-
11e · Other revenue, total
$133,067
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $29,351 · program services $29,351
-
3 · Grants to foreign organizations and individuals
total $23,140 · program services $23,140
-
5 · Compensation of officers, directors and key employees
total $873,557 · program services $500,663 · management and general $228,015 · fundraising $144,879
-
7 · Other salaries and wages
total $3,574,580 · program services $2,892,355 · management and general $283,418 · fundraising $398,807
-
8 · Pension plan contributions
total $127,852 · program services $92,154 · management and general $17,064 · fundraising $18,634
-
9 · Other employee benefits
total $501,756 · program services $371,857 · management and general $58,552 · fundraising $71,347
-
10 · Payroll taxes
total $299,594 · program services $232,288 · management and general $31,032 · fundraising $36,274
-
11b · Fees: legal
total $20,404 · program services $19,260 · management and general $1,144
-
11c · Fees: accounting
total $63,910 · management and general $63,910
-
11f · Fees: investment management
total $80,762 · management and general $80,762
-
11g · Fees: other
total $999,502 · program services $970,419 · management and general $10,742 · fundraising $18,341
-
12 · Advertising and promotion
total $9,772 · program services $513 · fundraising $9,259
-
13 · Office expenses
total $86,712 · program services $55,175 · management and general $11,069 · fundraising $20,468
-
14 · Information technology
total $263,712 · program services $215,652 · management and general $26,486 · fundraising $21,574
-
16 · Occupancy
total $221,622 · program services $183,947 · management and general $15,513 · fundraising $22,162
-
17 · Travel
total $640,544 · program services $579,695 · management and general $9,693 · fundraising $51,156
-
19 · Conferences, conventions and meetings
total $21,459 · program services $10,009 · fundraising $11,450
-
22 · Depreciation, depletion and amortization
total $384,244 · program services $318,923 · management and general $26,897 · fundraising $38,424
-
23 · Insurance
total $104,249 · program services $50,328 · management and general $49,026 · fundraising $4,895
-
24a · Other expenses: PUBLICATIONS
total $122,427 · program services $122,427
-
24b · Other expenses: TRUSTEE REIMBURSEMENT
total $62,006 · management and general $62,006
-
24c · Other expenses: HONORARIUMS AND STIPEND
total $57,111 · program services $57,111
-
24d · Other expenses: PUBLIC RELATIONS
total $35,296 · program services $31,766 · fundraising $3,530
-
24e · All other expenses
total $116,655 · program services $99,538 · management and general $4,779 · fundraising $12,338
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $553 · end of year $754
-
2 · Savings and temporary cash investments
beginning of year $5,864,200 · end of year $5,903,997
-
4 · Accounts receivable
beginning of year $523,264 · end of year $606,111
-
9 · Prepaid expenses and deferred charges
beginning of year $99,997 · end of year $81,811
-
10a · Land, buildings and equipment: cost or other basis
$10,494,071
-
10b · Land, buildings and equipment: accumulated depreciation
$5,528,701
-
10c · Land, buildings and equipment, net
beginning of year $5,419,722 · end of year $4,965,370
-
11 · Investments: publicly traded securities
beginning of year $29,294,993 · end of year $32,379,402
-
12 · Investments: other securities
beginning of year $150,786,477 · end of year $153,253,119
-
15 · Other assets
beginning of year $1,891,247 · end of year $1,976,582
-
17 · Accounts payable and accrued expenses
beginning of year $483,390 · end of year $499,878
-
25 · Other liabilities
beginning of year $81,488,650 · end of year $82,610,918
-
27 · Net assets without donor restrictions
beginning of year $34,979,596 · end of year $45,381,014
-
28 · Net assets with donor restrictions
beginning of year $76,928,817 · end of year $70,675,336
Mission and programs · 2024
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: OUR RESEARCH FOCUSES ON ECONOMICS, FREE MARKETS, SOUND MONEY, AND CLASSICAL LIBERALISM. OUR RESEARCH GENERATED: 109 SPEAKING ENGAGEMENTS, AIER'S RESEACHERS HAD 3,039 MEDIA APPEARANCES AT VARIOUS MEDIA OUTLETS, 716 GOOGLE SCHOLAR CITATIONS, 9 ORIGINAL AIER EXPLAINERS AND WHITE PAPERS PUBLISHED, 64 PODCASTS, AND MORE THAN 3 MILLION READERS VISITED AIER'S WEBSITE AND THE DAILY ECONOMY WEBSITES. PUBLICATIONS: INCLUDED RESEARCH, PREPARATION, AND DISTRIBUTION OF PERIODIC ECONOMIC REPORTS; 20,625 COPIES OF THE REPORTS WERE PRINTED AND DISTRIBUTED, 18,144 COPIES WERE EMAILED, AND THERE WERE 21,448 WEBSITE VIEWS OF THE REPORTS. AIER PUBLISHED ONE NEW BOOK THIS YEAR.
Expenses $4,554,723 · Revenue $59,617
-
ACADEMIC PROGRAMS: OUR PROGRAMS EDUCATE PARTICIPANTS ABOUT CLASSICAL LIBERALISM, FREE ENTERPRISES, LIMITED GOVERNMENT, THE RIGHT TO PERSONAL PROPERTY, AND SOUND MONEY PRINCIPLES. 345 STUDENTS WERE TRAINED AND MENTORED IN THESE AREAS. MORE THAN 2,000 ATTENDEES PARTICPATED IN AIER CONFERENCES, SEMINARS, WORKSHOPS, DEBATES, AND GRADUATE COLLOQUIMS NATIONWIDE. 29 INTERNS AND 12 GRADUATE FELLOWS PARTICIPATED IN OUR INTERNSHIP AND VISITING FELLOW PROGRAMS. WE CONDUCTED 6 ONE-DAY PROGRAMS AT VARIOUS UNIVERSITY CAMPUS ACROSS THE U.S.. WE TRANSITIONED OUR BASTIAT PROGRAM TO HARWOOD SALONS. AIER'S HARWOOD SALONS BRING TOGETHER LEADERS, THINKERS, AND LOCAL COMMUNITY MEMBERS FOR ENGAGING DISCUSSIONS ON FREEDOM, FREE MARKETS, AND SOUND MONEY. THESE GATHERINGS, HELD IN CITIES NATIONWIDE, FOSTER CONVERSATIONS FOCUSED ON OUR MISSION. AIER'S SOUND MONEY PROJECT CONDUCTS RESEARCH AND PROMOTES AWARENESS ABOUT MONETARY STABILITY AND FINANCIAL PRIVACY. 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. THE PROJECT CONDUCTED A MONETARY CONFERENCE IN DC WITH OVER 100 ATTENDEES, THE CONFERENCE HAD 2,750 STREAMING VIEWS, AND 540 CONCURRENT LIVE VIEWS. IN ADDITION, MEMBERS OF THE PROJECT HAVE CONTRIBUTED NUMEROUS ARTICLES THROUGH OUT THE YEAR.
Expenses $2,301,848 · Grants $52,491 · Revenue $40,886
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Katherine H DelayKATHERINE H DELAY
CHAIR (AS OF 10/24)
- Total calculated
- $0
- Hours/week
- 10
-
Gregory M Van KipnisGREGORY M VAN KIPNIS
CHAIR (UNTIL 10/24)
- Total calculated
- $0
- Hours/week
- 10
-
Robert SchimenzROBERT SCHIMENZ
SECRETARY (AS OF 10/24)
- Total calculated
- $0
- Hours/week
- 10
-
Frederick C HarwoodFREDERICK C HARWOOD
SECRETARY (UNTIL 10/24), TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Terry W AnkerTERRY W ANKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Gerald P DwyerGERALD P DWYER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Latimer B EddyLATIMER B EDDY
TRUSTEE (UNTIL 02/24)
- 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
-
Terry KibbeTERRY KIBBE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Adam KisselADAM KISSEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
James C LordemanJAMES C LORDEMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Reed E PhillipsREED E PHILLIPS
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
-
William RugerWILLIAM RUGER
PRESIDENT
- Total calculated
- $585,837
- From this org
- $569,524
- From related orgs
- $0
- Other
- $16,313
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $494,524
- Bonus
- $75,000
- Other
- $0
- Deferred
- $13,800
- Nontaxable benefits
- $2,513
- Filer's total
- $585,837
-
Michele M KearnsMICHELE M KEARNS
VICE PRESIDENT, FINANCE
- Total calculated
- $287,720
- From this org
- $252,640
- From related orgs
- $0
- Other
- $35,080
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $237,640
- Bonus
- $15,000
- Other
- $0
- Deferred
- $10,602
- Nontaxable benefits
- $24,478
- Filer's total
- $287,720
-
Samuel GreggSAMUEL GREGG
SENIOR RESEARCH FACULTY
- Total calculated
- $269,553
- From this org
- $258,263
- From related orgs
- $0
- Other
- $11,290
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $258,263
- Bonus
- $0
- Other
- $0
- Deferred
- $10,331
- Nontaxable benefits
- $959
- Filer's total
- $269,553
-
Jason SorensJASON SORENS
SENIOR RESEARCH FELLOW
- Total calculated
- $164,973
- From this org
- $157,744
- From related orgs
- $0
- Other
- $7,229
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,744
- Bonus
- $0
- Other
- $0
- Deferred
- $6,310
- Nontaxable benefits
- $919
- Filer's total
- $164,973
-
Ryan YonkRYAN YONK
DIRECTOR OF EDUCATION & SENIOR RESEARCH FELLOW
- Total calculated
- $156,551
- From this org
- $149,689
- From related orgs
- $0
- Other
- $6,862
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,689
- Bonus
- $0
- Other
- $0
- Deferred
- $5,988
- Nontaxable benefits
- $874
- Filer's total
- $156,551
-
Jason KellyJASON KELLY
DIRECTOR OF DATA & TECHNOLOGY
- Total calculated
- $157,735
- From this org
- $142,039
- From related orgs
- $0
- Other
- $15,696
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,039
- Bonus
- $2,000
- Other
- $0
- Deferred
- $5,751
- Nontaxable benefits
- $9,945
- Filer's total
- $157,735
-
Laurie B PshenishnyLAURIE B PSHENISHNY
ASSISTANT COMPTROLLER
- Total calculated
- $159,797
- From this org
- $139,198
- From related orgs
- $0
- Other
- $20,599
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,198
- Bonus
- $2,000
- Other
- $0
- Deferred
- $5,989
- Nontaxable benefits
- $14,610
- Filer's total
- $159,797
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 1A
- ALL INDIVIDUALS LISTED IN SCHEDULE J, PART II, EXCLUDING THE PRESIDENT, VICE PRESIDENT, FINANCE AND ASSISTANT COMPTROLLER, RECEIVE HOUSING BENEFITS TO ATTEND REQUIRED MEETINGS ON-SITE AT THE ORGANIZATION'S MAIN OFFICE AND ARE TREATED AS NONTAXABLE BENEFITS TO THE INDIVIDUALS.
- 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 $4,430,383 · share of assets $4,162,117 · controlled entity
Directly controlled by AMERICAN INSTITUTE FOR ECONOMIC RESEARCH
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202512329349300411
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