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TO THAT END, OUR SCHOLARS AND ANALYSTS CONDUCT AND PUBLISH INDEPENDENT, NONPARTISAN RESEARCH ON A WIDE RANGE OF POLICY ISSUES ACROSS MORE THAN 14 RESEARCH AREAS, INCLUDING LAW AND CIVIL LIBERTIES, TAX AND BUDGET POLICY, REGULATORY STUDIES, HEALTH CARE AND WELFARE, EDUCATION, FINANCE, BANKING AND MONETARY POLICY, FOREIGN POLICY AND NATIONAL SECURITY, TRADE POLICY, AND INTERNATIONAL DEVELOPMENT. 6637408 77500 233514 EDUCATIONAL PROGRAM - CATO HOSTS PUBLIC EVENTS AND CONFERENCES IN ORDER TO ENGAGE DIVERSE AUDIENCES ON OUR RESEARCH AND POLICY PRESCRIPTIONS. CATO ALSO PROACTIVELY INVESTS IN THE NEXT GENERATION THROUGH ITS STUDENT PROGRAMS. THESE INCLUDE OUR CATO INTERNSHIP PROGRAM AND JOHN RUSSELL PASLAQUA INTERN SEMINAR SERIES, OUR STUDENT BRIEFING PROGRAM, AND CATO UNIVERSITY, WHICH TEACHES COLLEGE STUDENTS FROM AROUND THE COUNTRY ABOUT AMERICA'S FOUNDING PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, AND FREE ENTERPRISE. OUR SPHERE PROGRAM SUPPORTS MIDDLE AND HIGH SCHOOL EDUCATORS WITH THE KNOWLEDGE AND TOOLS TO OVERCOME POLARIZATION AND ADVANCE CIVIL DISCOURSE ON CONTENTIOUS ISSUES IN THE CLASSROOM. 2622682 0 0 COMMUNICATIONS & EXTERNAL AFFAIRS - CATO SCHOLARS ENGAGE AND EDUCATE BROAD AUDIENCES ON OUR POLICY PRESCRIPTIONS BY DISSEMINATING OUR RESEARCH THROUGH SPEAKING ENGAGEMENTS, SOCIAL MEDIA, BRIEFINGS, OP-EDS AND BLOGS, PODCASTS, TELEVISION AND RADIO APPEARANCES, AND OUR WEBSITES, WHICH RECEIVE OVER 11 MILLION VISITS ANNUALLY. WE HAVE INVESTED SIGNIFICANTLY IN BUILDING A CATO DIGITAL PROGRAM TO SHOWCASE THIS CONTENT IN A DYNAMIC, ENGAGING, AND ACCESSIBLE WAY THROUGH ALL THESE CHANNELS. CATO SCHOLARS AND GOVERNMENT AFFAIRS PERSONNEL MEET WITH AND EDUCATE GOVERNMENT OFFICIALS AND THEIR STAFF ON A VARIETY OF PUBLIC POLICY ISSUES, ADVANCING SOLUTIONS BASED ON THE PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE. 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Levy Center for Constitutional Studies and Cato's Center for Monetary and Financial Alternatives through the annual earnings of the endowment net assets. SCHEDULE D, PART X, LINE 2: CATO IS EXEMPT FROM FEDERAL INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND HAS BEEN DESIGNATED BY THE INTERNAL REVENUE SERVICE AS A PUBLICLY SUPPORTED ORGANIZATION UNDER SECTION 509(A)(1) OF THE CODE. ALTHOUGH CATO IS GENERALLY EXEMPT FROM INCOME TAX, CATO IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES UNDER SECTION 512 OF THE CODE, AS WELL AS SUBJECT TO EXCISE TAX ON EXCESS LOBBYING EXPENSES. CATO BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. CATO RECOGNIZES INTEREST EXPENSE AND PENALTIES RELATED TO INCOME TAXES ON UNCERTAIN TAX POSITIONS IN MANAGEMENT AND GENERAL EXPENSES ON THE STATEMENTS OF ACTIVITIES AND CHANGE IN NET ASSETS AND ACCOUNTS PAYABLE AND ACCRUED EXPENSES IN THE STATEMENTS OF FINANCIAL POSITION. NO INTEREST EXPENSE AND PENALTIES RELATED TO INCOME TAXES ON UNCERTAIN TAX POSITIONS WERE RECOGNIZED FOR THE YEARS ENDED MARCH 31, 2024 AND 2023. CATO FILES INCOME TAX RETURNS IN THE U.S FEDERAL JURISDICTION. IN ACCORDANCE WITH FASB ASC 740 INCOME TAXES, CATO RECOGNIZES TAX LIABILITIES FOR UNCERTAIN TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL NOT BE SUSTAINED UPON EXAMINATION AND SETTLEMENT WITH VARIOUS TAXING AUTHORITIES. LIABILITIES FOR UNCERTAIN TAX POSITIONS ARE MEASURED BASED UPON THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. WITH A FEW EXCEPTIONS, CATO IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE FISCAL YEAR 2021. MANAGEMENT HAS EVALUATED CATO'S TAX POSITIONS AND HAS CONCLUDED THAT CATO HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. SCHEDULE D, PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES -142,430 SCHEDULE D, PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 142,430 true Central America and the Caribbean 0 1 Program Services Public Pol & Research 5330 East Asia and the Pacific 0 6 Program Services Public Pol & Research 4300 Europe (Including Iceland and Greenland) 0 33 Program Services Public Pol & Research 752685 North America 0 0 Grantmaking 25000 North America 0 0 Program Services EDUCATIONAL PROGRAMS 7850 North America 0 1 Program Services Public Pol & Research 700 Russia and the Newly Independent States 0 1 Program Services Public Pol & Research 4333 South America 0 5 Program Services Public Pol & Research 70210 South Asia 0 1 Program Services Public Pol & Research 800 0 48 0 48 871208 871208 North America PUB. POLICY 25000 Wire 1 PRIZE/AWARD RUSSIA AND THE NEWLY INDEPENDENT STATES FMV PRIZE/AWARD SUB-SAHARAN AFRICA FMV false false false false false false SCHEDULE F, PART I, LINE 2: PROGRAMS ARE SUPERVISED BY PROJECT MANAGERS WHO PROVIDE OVERSIGHT, APPROVE PAYMENTS, AND PROVIDE AN ACCOUNTING OF FUNDS SPENT. 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X X true true X X X X false false false false false false false false false PETER GOETTLER PRESIDENT & CEO 629856 0 0 0 0 0 36300 0 15487 0 681643 0 0 0 MARISSA DELGADO SECRETARY, VP, FINANCE & CFO 204892 0 10000 0 0 0 15912 0 21283 0 252087 0 0 0 STEPHEN KURTZ VP, CHIEF DIGITAL OFFICER 302008 0 2000 0 0 0 18405 0 20526 0 342939 0 0 0 LESLEY ALBANESE SR VP, INITIATIVES 260595 0 12000 0 0 0 19328 0 8259 0 300182 0 0 0 NORBERT MICHEL VP,DIRECTOR,MONETARY&FINANCIAL 227711 0 0 0 0 0 16722 0 21515 0 265948 0 0 0 SCOTT LINCICOME VP, GENERAL ECONOMICS & TRADE 225350 0 11000 0 0 0 16625 0 21302 0 274277 0 0 0 CLARK NEILY SR VP FOR LEGAL STUDIES 226692 0 0 0 0 0 17597 0 21515 0 265804 0 0 0 MICHAEL CANNON DIRECTOR OF HEALTH POLICY 215820 0 0 0 0 0 15163 0 8535 0 239518 0 0 0 HARRISON MOAR VP FOR DEVELOPMENT 202474 0 13000 0 0 0 15503 0 8863 0 239840 0 0 0 SCHEDULE J, PART I, LINE 1: Cato Institute has established a travel policy that sometimes permits first class travel and companion travel for select employees and executives. First class travel may be allowed depending upon factors such as distance, frequency and length of travel, time of day (e.g. overnight flights), and other considerations relevant to ensuring that these individuals can travel in a manner that allows them to perform their duties effectively and efficiently. The Institute allows companion travel for spouses of certain officers of the Institute when the presence of a companion is necessary for the business purpose of the trip. All such travel is documented to ensure compliance with Cato's policies and procedures. X 63 2785247 FMV X Cryptocurrency 12 61160 FMV 1 false true true SCHEDULE M, PART I, COLUMN(B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. SCHEDULE M, PART I, LINE 32B: THE ORGANIZATION COMMISSIONED A REAL ESTATE FIRM TO ASSIST IN SALE OF DONATED REAL PROPERTY. FORM 990, PART VI, SECTION A, LINE 4: Bylaws were amended in October 2023. Board Committee Charters were also amended in October 2023. FORM 990, PART VI, SECTION B, LINE 11B: PROCESS USED TO REVIEW FORM 990: A DRAFT 990 IS PROVIDED TO EACH DIRECTOR FOR REVIEW AND COMMENT PRIOR TO FINALIZATION. FORM 990, PART VI, SECTION B, LINE 12C: MONITORING AND ENFORCEMENT OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY: CATO ANNUALLY REVIEWS CONFLICT OF INTEREST DISCLOSURES. IF A POTENTIAL CONFLICT OF INTEREST ARISES, THE CONFLICTS PANEL WILL PERFORM AN INVESTIGATION. THE CONFLICTS PANEL DETERMINES IF IN FACT A FAILURE TO DISCLOSE A CONFLICT HAS OCCURRED AND THE PANEL WILL TAKE APPROPRIATE AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A: PROCESS FOR DETERMINING COMPENSATION: AN INDEPENDENT CONTRACTOR REVIEWS THE COMPENSATION/BENEFITS OF THE PRESIDENT & CEO. THE BOARD DISCUSSES AND APPROVES EXECUTIVE COMPENSATION/BENEFITS BASED ON RESULTS OF THE INDEPENDENT STUDY. FORM 990, PART VI, SECTION C, LINE 19: HOW THE ORGANIZATION MAKES ORGANIZING DOCUMENTS AVAILABLE TO THE PUBLIC: CATO'S BYLAWS, ARTICLES OF INCORPORATION, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO ANYONE WHO REQUESTS THEM. FURTHER, CATO HAS ALWAYS COMPLIED, AND WILL CONTINUE TO COMPLY, WITH THE MANDATE THAT FORM 990 BE MADE PUBLICLY AVAILABLE.