Third Way Institute

Analysis

Third Way Institute is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 2009, 17 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. 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, Third Way Institute reported income of $18.4m and spending of $20.4m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.1m to $18.4m (+52%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 104% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Third Way Institute sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 92nd percentile within DC. Charities of a similar size with the same main cause include South Jersey Legal Services Inc ($18.4m), Western Resource Advocates ($18.5m) and Immigrant Defenders Law Center ($18.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $105k (0.5% of expenses). Other salaries and wages came to $91k. At year end it held assets of $31.9m against liabilities of $15.7m, net assets of $16.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.