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← COMMONWEALTH INSTITUTE FOR FISCAL ANALYSIS

Form 990 for tax year 2023

Filed by COMMONWEALTH INSTITUTE FOR FISCAL ANALYSIS.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 18 March 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,357,980 changed to $2,246,254
Total expenses
$2,163,668 changed to $2,107,951
Contributions and grants received
$2,342,594 changed to $2,242,593
Investment income
$14,889 changed to $3,164
Total assets, end of year
$3,963,140 changed to $3,863,756
Total liabilities, end of year
$214,973 changed to $159,872
Net assets or fund balances, end of year
$3,748,167 changed to $3,703,884
Program services expenses
$1,807,339 changed to $1,761,762
Management and general expenses
$126,174 changed to $122,645
Fundraising expenses
$230,155 changed to $223,544
Program service expenses (Part III)
$1,807,339 changed to $1,761,762

Totals

Total revenue
$2,357,980
Total expenses
$2,163,668
Contributions and grants received
$2,342,594
Grants paid
$220,833
Program service revenue
$0
Investment income
$14,889
Other revenue
$497
Total assets, end of year
$3,963,140
Total liabilities, end of year
$214,973
Net assets or fund balances, end of year
$3,748,167
Program services expenses (Part IX)
$1,807,339
Management and general expenses
$126,174
Fundraising expenses
$230,155
Program service expenses (Part III)
$1,807,339

Program services were 83.5% 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

    $2,342,594

  • 3 · Investment income

    total $14,889 · excluded $14,889

  • 11a · Other revenue: Miscellaneous

    total $497 · related or exempt $497

  • 11e · Other revenue, total

    $497

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $214,015 · program services $214,015

  • 2 · Grants to domestic individuals

    total $6,818 · program services $6,818

  • 5 · Compensation of officers, directors and key employees

    total $295,835 · program services $241,993 · management and general $18,736 · fundraising $35,106

  • 7 · Other salaries and wages

    total $992,889 · program services $812,182 · management and general $62,885 · fundraising $117,822

  • 8 · Pension plan contributions

    total $54,971 · program services $44,967 · management and general $3,481 · fundraising $6,523

  • 9 · Other employee benefits

    total $100,138 · program services $81,913 · management and general $6,342 · fundraising $11,883

  • 10 · Payroll taxes

    total $98,676 · program services $80,717 · management and general $6,249 · fundraising $11,710

  • 11b · Fees: legal

    total $4,530 · program services $3,705 · management and general $286 · fundraising $539

  • 11c · Fees: accounting

    total $35,510 · program services $29,047 · management and general $2,249 · fundraising $4,214

  • 11f · Fees: investment management

    total $3,340 · management and general $3,340

  • 11g · Fees: other

    total $63,720 · program services $52,123 · management and general $4,035 · fundraising $7,562

  • 12 · Advertising and promotion

    total $18,104 · program services $14,809 · management and general $1,147 · fundraising $2,148

  • 13 · Office expenses

    total $32,338 · program services $26,452 · management and general $2,048 · fundraising $3,838

  • 16 · Occupancy

    total $108,758 · program services $88,965 · management and general $6,888 · fundraising $12,905

  • 17 · Travel

    total $26,807 · program services $21,928 · management and general $1,698 · fundraising $3,181

  • 19 · Conferences, conventions and meetings

    total $16,137 · program services $13,200 · management and general $1,022 · fundraising $1,915

  • 22 · Depreciation, depletion and amortization

    total $19,708 · program services $16,121 · management and general $1,248 · fundraising $2,339

  • 23 · Insurance

    total $5,336 · program services $4,365 · management and general $338 · fundraising $633

  • 24a · Other expenses: Publications & Subscriptions

    total $62,186 · program services $50,868 · management and general $3,938 · fundraising $7,380

  • 24b · Other expenses: Repairs & Maintenance

    total $3,852 · program services $3,151 · management and general $244 · fundraising $457

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,320,936 · end of year $2,211,190

  • 2 · Savings and temporary cash investments

    beginning of year $401,042 · end of year $404,206

  • 3 · Pledges and grants receivable

    beginning of year $445,000 · end of year $795,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,916 · end of year $25,022

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

    $98,625

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

    $89,891

  • 10c · Land, buildings and equipment, net

    beginning of year $28,442 · end of year $8,734

  • 12 · Investments: other securities

    beginning of year $353,207 · end of year $408,937

  • 15 · Other assets

    beginning of year $156,552 · end of year $110,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,910 · end of year $36,455

  • 25 · Other liabilities

    beginning of year $176,675 · end of year $178,518

  • 27 · Net assets without donor restrictions

    beginning of year $1,719,417 · end of year $1,153,909

  • 28 · Net assets with donor restrictions

    beginning of year $1,787,093 · end of year $2,594,258

Mission and programs · 2023

Mission

To use policy, research, and analysis to advance the well-being of Virginia communities, and improve the economic security and social opportunities of all Virginians.

  • The Institute provides credible, independent, and accessible information and analysis of fiscal and economic issues with particular attention to the impacts of low and moderate income persons. This is achieved through research, analysis, and education in the areas of budget & tax, labor & wage, health care, immigration, and decriminalization of poverty.

    Expenses $1,807,339 · Grants $220,833

As filed on the 2023 return.

Listed in Part VII

  • Ashley Kenneth

    President & CEO

    Total calculated
    $176,208
    From this org
    $152,589
    From related orgs
    $0
    Other
    $23,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,589
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $23,619
    Filer's total
    $176,208

  • Leigh Anne Collier

    Senior Vice President

    Total calculated
    $143,246
    From this org
    $143,246
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Eric Lin

    Member

    Total calculated
    $0
    Hours/week
    2

  • Jenny Sullivan

    Member

    Total calculated
    $0
    Hours/week
    2

  • Sharhonda Woods

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Cassandra Willis

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Judy Conti

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
3 October 2024
IRS schema version
2023v5.1
Source object
202412779349301821

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