Institute for Progress

Analysis

Institute for Progress is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover social science, which this site groups under arts, culture, heritage and science. 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 for Progress reported income of $8.2m and spending of $3.1m, leaving 62% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.9m to $8.2m (+331%), an average of +108% a year. The sharpest change came in the year to December 2023, when income rose by 745%. Over the whole period it spent 40% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Institute for Progress sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 85th percentile within DC. Charities of a similar size with the same main cause include American Conservative Union Foundation ($8.2m), Ccat Observatory Inc ($8.2m) and Foundation for Economic Education Inc ($8.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $405k (13% of expenses). Other salaries and wages came to $799k. At year end it held assets of $6.9m against liabilities of $437k, net assets of $6.5m. It reported 14 employees.