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Nonprofiteer
← THE BUCKEYE INSTITUTE

Form 990 for tax year 2023

Filed by THE BUCKEYE INSTITUTE.

Totals

Total revenue
$4,616,008
Total expenses
$2,815,055
Contributions and grants received
$4,227,221
Grants paid
$0
Program service revenue
$0
Investment income
$359,779
Other revenue
$29,008
Total assets, end of year
$7,289,169
Total liabilities, end of year
$226,658
Net assets or fund balances, end of year
$7,062,511
Program services expenses (Part IX)
$2,565,759
Management and general expenses
$143,778
Fundraising expenses
$105,518
Program service expenses (Part III)
$2,565,759

Program services were 91.1% 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

    $4,227,221

  • 1g · Noncash contributions included above

    $251,304

  • 3 · Investment income

    total $171,416 · related or exempt $171,416

  • 7a · Gross sales of assets other than inventory

    securities $1,338,767

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

    securities $1,150,404

  • 7c · Gain or loss

    securities $188,363

  • 7d · Net gain or loss

    total $188,363 · related or exempt $188,363

  • 11a · Other revenue: Other Reimbursements

    total $15,422 · related or exempt $15,422

  • 11b · Other revenue: Travel Reimbursements

    total $7,792 · related or exempt $7,792

  • 11c · Other revenue: Miscellaneous Income

    total $5,794 · related or exempt $5,794

  • 11e · Other revenue, total

    $29,008

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $875,741 · program services $776,808 · management and general $45,671 · fundraising $53,262

  • 7 · Other salaries and wages

    total $957,973 · program services $877,048 · management and general $44,000 · fundraising $36,925

  • 8 · Pension plan contributions

    total $15,296 · program services $13,168 · management and general $1,020 · fundraising $1,108

  • 9 · Other employee benefits

    total $48,728 · program services $40,573 · management and general $7,900 · fundraising $255

  • 10 · Payroll taxes

    total $112,828 · program services $101,545 · management and general $5,642 · fundraising $5,641

  • 11b · Fees: legal

    total $411,450 · program services $409,032 · management and general $2,418

  • 11c · Fees: accounting

    total $11,244 · management and general $11,244

  • 11e · Fees: professional fundraising services

    total $135 · fundraising $135

  • 11g · Fees: other

    total $33,740 · program services $29,859 · management and general $3,557 · fundraising $324

  • 12 · Advertising and promotion

    total $12,000 · program services $12,000

  • 13 · Office expenses

    total $37,645 · program services $27,988 · management and general $9,068 · fundraising $589

  • 14 · Information technology

    total $36,098 · program services $33,054 · management and general $2,052 · fundraising $992

  • 16 · Occupancy

    total $90,208 · program services $78,167 · management and general $7,698 · fundraising $4,343

  • 17 · Travel

    total $92,562 · program services $91,861 · fundraising $701

  • 19 · Conferences, conventions and meetings

    total $37,940 · program services $36,982 · management and general $356 · fundraising $602

  • 22 · Depreciation, depletion and amortization

    total $3,077 · program services $2,769 · management and general $154 · fundraising $154

  • 23 · Insurance

    total $6,483 · program services $3,522 · management and general $2,880 · fundraising $81

  • 24a · Other expenses: Other Legal Expenses

    total $27,390 · program services $27,272 · management and general $118

  • 24b · Other expenses: Miscellaneous

    total $4,517 · program services $4,111 · fundraising $406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $432,568 · end of year $251,800

  • 2 · Savings and temporary cash investments

    beginning of year $3,639,639 · end of year $6,686,086

  • 3 · Pledges and grants receivable

    beginning of year $250,462 · end of year $63,950

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,845 · end of year $12,187

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

    $81,223

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

    $70,753

  • 10c · Land, buildings and equipment, net

    beginning of year $10,748 · end of year $10,470

  • 11 · Investments: publicly traded securities

    beginning of year $843,870 · end of year $66,265

  • 15 · Other assets

    beginning of year $268,543 · end of year $198,411

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,148 · end of year $29,882

  • 25 · Other liabilities

    beginning of year $265,461 · end of year $196,776

  • 27 · Net assets without donor restrictions

    beginning of year $4,296,437 · end of year $5,969,694

  • 28 · Net assets with donor restrictions

    beginning of year $842,629 · end of year $1,092,817

Mission and programs · 2023

Mission

The Buckeye Institute is an independent research and educational institution -- a think tank -- whose mission is to advance free-market public policy in the states.

Activities or mission (Part I)

The Buckeye Institute's mission is to advance free-market public policy in the states.

  • The Buckeye Institute focuses on economic and legal public policy. Buckeye's Economic Research Center (ERC) produces academic-quality, peer-reviewed, scholarly reports and dynamic models to assess the impact of various policy changes on state economies, businesses, and taxpayers. Buckeye's Legal Center files amicus briefs and engages in direct litigation in support of free-market public policy solutions.

    Expenses $2,565,759 · Revenue $388,787

As filed on the 2023 return.

Listed in Part VII

  • Robert Alt

    President and CEO

    Total calculated
    $405,184
    From this org
    $370,675
    From related orgs
    $0
    Other
    $34,509
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,675
    Bonus
    $90,000
    Other
    $0
    Deferred
    $11,550
    Nontaxable benefits
    $23,469
    Filer's total
    $405,694

  • Bradley A Smith

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Mark D Jordan

    Vice Chair and Secretary

    Total calculated
    $0
    Hours/week
    1

  • Andrew O Smith

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Hal R Arkes

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Rea S Hederman Jr

    Vice President of Policy

    Total calculated
    $215,677
    From this org
    $185,923
    From related orgs
    $0
    Other
    $29,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,923
    Bonus
    $5,000
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $24,264
    Filer's total
    $216,187

  • Rebekah Alt

    Chief Operating Officer

    Total calculated
    $253,350
    From this org
    $245,000
    From related orgs
    $0
    Other
    $8,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $45,000
    Other
    $0
    Deferred
    $7,350
    Nontaxable benefits
    $1,510
    Filer's total
    $253,860

  • Joe Nichols

    Director of External Relations

    Total calculated
    $141,625
    From this org
    $136,900
    From related orgs
    $0
    Other
    $4,725
    Hours/week
    40

  • Lisa A Gates

    Vice President of Communications

    Total calculated
    $112,979
    From this org
    $100,261
    From related orgs
    $0
    Other
    $12,718
    Hours/week
    40

  • David C Tryon

    Director of Litigation

    Total calculated
    $142,532
    From this org
    $119,473
    From related orgs
    $0
    Other
    $23,059
    Hours/week
    40

  • Greg R Lawson

    Research Fellow

    Total calculated
    $104,279
    From this org
    $100,642
    From related orgs
    $0
    Other
    $3,637
    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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
28 October 2024
IRS schema version
2023v5.1
Source object
202423029349302007

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