Institute on Taxation and Economic Policy

Analysis

Institute on Taxation and Economic Policy is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 1980, 46 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Institute on Taxation and Economic Policy reported income of $2.6m and spending of $3.6m, spending 138% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.6m (+138%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 119%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Institute on Taxation and Economic Policy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 71st percentile within DC. Charities of a similar size with the same main cause include Freedom Ministries Inc ($2.6m), Baltimore Electrical Joint Apprenticeship & Training Trust Fu ($2.6m) and Fox River Valley Pipe Trades Education ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 8.9% of the total. Other salaries and wages came to $2.0m. At year end it held assets of $4.9m against liabilities of $1.4m, net assets of $3.6m. It reported 25 employees.