2024-09-24T12:59:19-05:00 2023-12-31 521853933 JM&M 10500 LITTLE PATUXENT PARKWAY SUITE 770 COLUMBIA MD 21044 990 2023-01-01 521703065 TAX FOUNDATION TAXF 2024646200 1325 G STREET NW 950 WASHINGTON DC 20005 DANIEL BUNN PRESIDENT AND CEO 2024646200 2024-09-20 1 1 MEENA BISHNOI P01480769 4108840220 2023 2024-08-08 14:25:15Z DANIEL BUNN 1325 G STREET NW 950 WASHINGTON DC 20005 8328939 0 X WWW.TAXFOUNDATION.ORG X 1990 DC THE TAX FOUNDATION IS THE NATION'S LEADING INDEPENDENT TAX POLICY NONPROFIT. SINCE 1937, OUR PRINCIPLED RESEARCH, INSIGHTFUL ANALYSIS, AND ENGAGED EXPERTS HAVE INFORMED SMARTER TAX POLICY AT THE FEDERAL, STATE, AND GLOBAL LEVELS. FOR OVER 80 YEARS, OUR GOAL HAS REMAINED THE SAME: TO IMPROVE LIVES THROUGH TAX POLICIES THAT LEAD TO GREATER ECONOMIC GROWTH AND OPPORTUNITY. 9 9 46 9 0 0 6864038 8036003 0 0 233143 137267 -328392 -334324 6768789 7838946 24895 10223 0 0 3810309 4611274 10000 0 1162267 1995754 2335752 5840958 6957249 927831 881697 7496698 8268104 2290853 1763825 5205845 6504279 X TO ACHIEVE SIMPLE, SENSIBLE TAX POLICY AT THE FEDERAL AND STATE LEVELS BY PRODUCING AND DISSEMINATING BASIC INFORMATION AND ECONOMICALLY PRINCIPLED ANALYSIS OF TAX POLICY ISSUES AND THE SIZE OF THE TAX BURDEN BORNE BY AMERICANS AT ALL LEVELS OF GOVERNMENT. 0 0 1975372 FEDERAL TAX POLICY - THIS PROGRAM PROMOTES SOUND TAX POLICY IN WASHINGTON D.C. THE FOUNDATION PROVIDES OBJECTIVE DATA AND ANALYSIS ON TAX POLICY, USING SEVERAL TOOLS, INCLUDING MODELING OF ECONOMIC AND BUDGETARY EFFECTS, RESEARCH AND WRITING, CAPITOL HILL BRIEFINGS, AND CONGRESSIONAL TESTIMONY. THE FOUNDATION HAS ESTABLISHED ITSELF AS THE GO-TO RESOURCE ON FEDERAL TAX ISSUES FOR POLICYMAKERS. IN 2023, THE STAFF CONDUCTED MORE THAN 60 CAPITOL HILL MEETINGS, BRIEFINGS, AND PRESENTATIONS TO VARIOUS PUBLIC AUDIENCES, TESTIFIED 7 TIMES BEFORE CONGRESSIONAL COMMITTEES, AND PRODUCED DOZENS OF REPORTS AND BLOG POSTS ON A VARIETY OF ISSUES THAT RECEIVED 13,500 CITATIONS IN LEADING MEDIA OUTLETS. 1467546 MARKETING AND COMMUNICATION - THE FOUNDATION'S MARKETING TEAM MAKES TAX POLICY ENGAGING AND ACCESSIBLE TO TAXPAYERS, LEGISLATORS, AND THE MEDIA THROUGH INNOVATIVE, MULTI-CHANNEL CAMPAIGNS. THE FOUNDATION'S TEAM DELIVERS HIGH-QUALITY CONTENT TO THE RIGHT PEOPLE, AT THE RIGHT TIME, IN A FORMAT THAT PROMOTES DEEPER UNDERSTANDING USING TOOLS LIKE SOCIAL MEDIA, DIGITAL ADVERTISING, INTERACTIVE WEB EXPERIENCES, AND EMAIL. IN 2023, THE FOUNDATION EARNED 22,700 MEDIA CITATIONS IN THE WORLD'S TOP NEWS OUTLETS, INCLUDING THE WALL STREET JOURNAL, THE WASHINGTON POST, THE NEW YORK TIMES, NBC NEWS, FOX NEWS, AND NPR; ITS EXPERTS CONDUCTED 68 RADIO AND TV INTERVIEWS AND PLACED 41 OP-EDS; TAXFOUNDATION.ORG WAS VISITED 17.8 MILLION TIMES; ITS SOCIAL MEDIA AUDIENCE GREW 9 PERCENT TO 109,013 TOTAL FOLLOWERS; ITS DIGITAL ADVERTISING RESULTED IN 12.1 MILLION IMPRESSIONS AND DROVE 176,578 VIDEO VIEWS; AND ITS EMAIL NEWSLETTER GREW 6 PERCENT TO 61,604 SUBSCRIBERS. 1017674 STATE TAX POLICY - THIS PROGRAM PROMOTES STATE TAX REFORM WITH COMPREHENSIVE ANNUAL REPORTS, RESEARCH, POLICY ANALYSIS, AND IN-DEPTH STATE-SPECIFIC STUDIES. IN 2023, THE FOUNDATION TESTIFIED OR PRESENTED TO OFFICIALS-VIRTUALLY AND IN-PERSON-IN 30 STATES, MET WITH IN STATE GROUPS OR AUDIENCES IN ALL 50 STATES AND THE DISTRICT OF COLUMBIA, AND PUBLISHED SEVEN FORWARD LOOKING BLUEPRINTS FOR STATE TAX REFORM. THE FOUNDATION IS OFTEN LOOKED TO BY LEGISLATORS, TAXPAYERS, AND THE MEDIA (WITH 10,100 MEDIA CITATIONS IN 2023) TO RECOMMEND TAX REFORM OPTIONS OR PROVIDE ANALYSIS OF TAX PLANS. THE FOUNDATION'S ANALYSIS, AND STUDIES SUCH AS THE STATE BUSINESS TAX CLIMATE INDEX, INFORM THE TAX REFORM DEBATE ACROSS THE COUNTRY AND HAVE BEEN CRUCIAL TO MAJOR TAX CHANGES IN MANY STATES, AND FOUNDATION EXPERTS HAVE BEEN A VITAL RESOURCE TO POLICYMAKERS AND JOURNALISTS AS STATES NAVIGATE AN INCREASINGLY MOBILE ECONOMY CHARACTERIZED BY A GREATER FOCUS ON TAX COMPETITIVENESS. 654990 10223 GLOBAL TAX REFORM - WAS LAUNCHED TO PROMOTE PRO-GROWTH TAX POLICIES THROUGHOUT THE WORLD WITH A PRIMARY FOCUS ON EUROPE. THE GLOBAL PROGRAM PRODUCES IN-DEPTH STUDIES OF ECONOMIC DATA AND USES A VARIETY OF MEASURES, SUCH AS THE INTERNATIONAL TAX COMPETITIVENESS INDEX, TO COMPARE TAX SYSTEMS. THE FOUNDATION'S EXPERTS HAVE PROVIDED BRIEFINGS IN COUNTRIES THROUGHOUT EUROPE AND ARE RELIED UPON BY MEDIA, POLICY MAKERS, AND OTHER POLICY GROUPS TO PROVIDE ANALYSIS OF TAX PROPOSALS THROUGHOUT THE WORLD. IN 2023, THE TAX FOUNDATION'S WORK WAS CITED IN 83 COUNTRIES AND RECEIVED NEARLY 4,500 INTERNATIONAL MEDIA CITATIONS. 654990 10223 5115582 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 20 0 1 46 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 9 9 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DC AL AK NV CA CO CT FL AR KS KY IL ME MD MA MI MN MS NH NJ NM NY NC OH OK OR RI SC TN VA WV WI PA ND UT HI GA WA X X DANIEL BUNN 2024646200 1325 G STREET NW 950 WASHINGTON DC 20005 DAVID P LEWIS CHAIRMAN 1.00 X 0 0 0 JAMES W LINTOTT TREASURER 1.00 X 0 0 0 THE HONORABLE PHILIP ENGLISH DIRECTOR 1.00 X 0 0 0 DENNIS GROTH DIRECTOR 1.00 X 0 0 0 DOUGLAS HOLTZ-EAKIN DIRECTOR 1.00 X 0 0 0 STEPHEN KRANZ DIRECTOR 1.00 X 0 0 0 PAMELA OLSON DIRECTOR 1.00 X 0 0 0 SARAH MCGILL DIRECTOR 1.00 X 0 0 0 TOM ROESSER DIRECTOR 1.00 X 0 0 0 DANIEL D BUNN PRESIDENT, CEO, & BOARD SECRETARY 40.00 X 238913 0 30083 SCOTT HODGE PRESIDENT EMERITUS & SENIOR POLICY ADVISOR 40.00 X 348620 0 17285 JOSH JAYE SENIOR DIRECTOR OF EXTERNAL RELATIONS 40.00 X 153518 0 13063 WILLIAM MCBRIDE VP OF FEDERAL TAX POLICY 40.00 X 191377 0 18852 COLBY PASTRE VP OF MARKETING & COMMUNIC 40.00 X 150216 0 15742 MICHAEL RESSEGUE CHIEF OF STAFF 40.00 X 180332 0 13431 JARED M WALCZAK VP OF STATE PROJECTS 40.00 X 151200 0 13597 1414176 0 122053 13 0 1 0 FIONTA 700 PENNSYLVANIA AVE SE SUITE 200 WASHINGTON DC 20003 WEBSITE SERVICES 246295 EVENTEQ 7079 OAKLAND MILLS ROAD SUITE 4 COLUMBIA MD 21046 EVENTS MANAGEMENT 237385 MVP PRESS LLC 43720 TRADE CENTER PLACE SUITE 135 STERLING VA 20166 DIRECT MAIL & PRINTING SERVICES 143653 DAVIDSON & CO 2127 CALIFORNIA ST NW 104 WASHINGTON DC 20008 FUNDRAISING 140500 HAN GROUP 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 ACCOUNTING 126024 5 899308 7136695 59648 8036003 139175 139175 863 863 38943 40851 -1908 -1908 -1908 101325 899308 449142 -347817 -347817 CREDIT CARD REWARDS 900099 12630 12630 12630 7838946 0 0 -197057 10223 10223 634901 497625 32312 104964 3379168 2649876 171663 557629 152870 119066 7956 25848 162928 126900 8480 27548 281407 220809 12535 48063 11975 9327 623 2025 131265 131265 504012 390766 27984 85262 30803 23990 1605 5208 126228 83150 24666 18412 134219 104538 6987 22694 365618 284768 19030 61820 184561 112645 26316 45600 158585 117354 14272 26959 109875 85577 5720 18578 36242 26819 5958 3465 DIRECT MAIL EXPENSES 349655 134859 157983 56813 DUES & SUBSCRIPTIONS 120472 89149 10843 20480 IN KIND EXPENSES 25533 25533 STAFF DEVELOPMENT 18613 14497 969 3147 28096 13644 12233 2219 6957249 5115582 679400 1162267 549861 1356485 1576887 1321552 147500 168333 154200 23000 89725 87666 1500563 1007400 298454 493163 3670257 3168921 1511150 1147648 7496698 8268104 310115 276750 25000 0 1955738 1487075 2290853 1763825 X 4599470 5905477 606375 598802 5205845 6504279 7496698 8268104 881697 416737 0 X X 0 1 X 1 0 X 4904531 5613410 6658660 6864038 8036003 32076642 4904531 5613410 6658660 6864038 8036003 32076642 6283512 25793130 62219 56135 69898 79949 140038 408239 19334 1987 2954 12630 36905 32521786 0.79310 0.77110 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 2,954. HONORARIA - 2019 AMOUNT: $ 19,334. 2020 AMOUNT: $ 1,987. CREDIT CARD REWARDS - 2023 AMOUNT: $ 12,630. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5794983 5794983 439749 109937 0 0 387990 387803 439749 1215542 1823313 96998 96951 109937 303886 455829 645581 485655 159926 529384 492833 36551 325598 28912 296686 493163 BENEFICIAL INTEREST IN SPLIT INTEREST AGREEMENT 58334 DEPOSITS 36751 RIGHT-OF-USE OPERATING LEASE 993589 RIGHT-OF-USE FINANCE LEASE 58974 1147648 LEASE LIABILITY - OPERATING LEASE 1465173 LEASE LIABILITY - FINANCE LEASE 21902 1487075 X 8255683 416737 416737 7838946 0 7838946 6957249 0 6957249 0 6957249 PART X, LINE 2: THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS OR THAT WOULD HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. THERE ARE NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES THAT NEED TO BE RECORDED. 1 EUROPE 0 0 PROGRAM SERVICES AUSTRIAN ECONOMICS CONFERENCE REGISTRATION FEE, SPEAKER FEE, AND ADVERTISEMENT 10223 0 0 0 0 0 0 10223 0 10223 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM TAX FOUNDATION MADE A GRANT OF $5,523 TO KEFIM IN 2023 TO SUPPORT THEIR WORK IN TRANSLATING (INTO GREEK), PRINTING, AND PUBLICIZING THE 2023 INTERNATIONAL TAX COMPETITIVENESS INDEX. 5523 WIRE 0 1 0 0 0 0 0 0 0 PART I, LINE 2: TAX FOUNDATION IDENTIFIES POTENTIAL GRANTEES AND CONDUCTS INTERVIEWS OF THOSE POTENTIAL GRANTEES TO ASSESS CAPACITY FOR PERFORMING A PROJECT. TAX FOUNDATION THEN OUTLINES A TIMELINE FOR PROJECT COMPLETION AND REQUESTS A LINE ITEM BUDGET FOR THE PROJECT AND AN INTERNAL REVIEW OF THE POTENTIAL GRANTEE'S BUDGET IS THEN PERFORMED. AFTER INTERNAL APPROVAL A GRANT IS AWARDED. A CHECK-IN INTERVIEW IS PERFORMED WITH THE GRANTEE PRIOR TO COMPLETION OF THE PROJECT. TAX FOUNDATION REVIEWS OUTPUT FROM THE PROJECT INCLUDING COMPLETION OF PROJECT DELIVERABLES, RELATED EVENTS, MEDIA IMPACT, AND POTENTIAL FOLLOW-UP OPPORTUNITIES. LASTLY, A POST-PROJECT INTERVIEW IS PERFORMED WITH THE GRANTEE TO ENSURE THAT ALL WORK WAS COMPLETED AND PERFORMANCE METRICS WERE APPROPRIATELY REPORTED. X X X X X X 1 DAVIDSON & CO DONOR ACQUISITION & DEV STRATEGIES LLC 2127 CALIFORNIA ST NW 104 WASHINGTON DC 20008 ASSIST WITH DIRECT MAIL CAMPAIGN & FOUNDATION GRANT PROPOSAL 0 0 140500 478518 AC FITZGERALD 300 N WASHINGTON STREET SUITE 700 ALEXANDRIA VA 22314 HELPED CREATE LETTERS AND PREP AND DISUCSS FOUNDATION FUNDRA 0 0 60230 2744138 200730 3222656 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI ANNUAL DINNER 1000633 899308 101325 32000 150255 266887 1000633 899308 101325 32000 150255 266887 449142 -347817 X X 0 0 0 0 0 0 0 1 0 SCOTT HODGE PRESIDENT EMERITUS & SENIOR POLICY ADVISOR 348620 0 0 0 0 0 16500 0 785 0 365905 0 0 0 DANIEL D BUNN PRESIDENT, CEO, & BOARD SECRETARY 188913 0 50000 0 0 0 9583 0 20500 0 268996 0 0 0 WILLIAM MCBRIDE VP OF FEDERAL TAX POLICY 186377 0 5000 0 0 0 9754 0 9098 0 210229 0 0 0 MICHAEL RESSEGUE CHIEF OF STAFF 150332 0 30000 0 0 0 7441 0 5990 0 193763 0 0 0 JOSH JAYE SENIOR DIRECTOR OF EXTERNAL RELATIONS 139018 0 14500 0 0 0 7550 0 5513 0 166581 0 0 0 COLBY PASTRE VP OF MARKETING & COMMUNIC 145216 0 5000 0 0 0 7620 0 8122 0 165958 0 0 0 JARED M WALCZAK VP OF STATE PROJECTS 146200 0 5000 0 0 0 7607 0 5990 0 164797 0 0 0 PART I, LINE 3 THE TAX FOUNDATION PARTICIPATES IN THE ANNUAL THINK TANK COMPENSATION SURVEY WHICH COLLECTS COMPENSATION AND BENEFITS DATA RELEVANT TO THINK TANKS AND OTHER RESEARCH ORGANIZATIONS IN THE UNITED STATES THAT CONDUCT RESEARCH IN THE PUBLIC POLICY, FOREIGN POLICY, AND INTERNATIONAL RELATIONS ARENAS. THE BOARD OF DIRECTORS UTILIZES ITS EXPERIENCE AND EXPERTISE IN CONJUNCTION WITH THE SURVEY RESULTS IN DETERMINING THE APPROPRIATE SALARY LEVEL ANNUALLY. THE CHAIRPERSON OF THE BOARD OF DIRECTORS COMMUNICATES IN WRITING THE SALARY APPROVED BY THE BOARD TO THE APPROPRIATE ACCOUNTING AND HUMAN RESOURCES PERSONNEL. PART I, LINE 7 THE TAX FOUNDATION AWARDED PERFORMANCE BASED BONUSES TO SEVERAL EMPLOYEES, INCLUDING MOST OF THE HIGHEST COMPENSATED EMPLOYEES LISTED ON FORM 990, PART VII. THESE BONUSES ARE INCLUDED IN THE AMOUNTS REPORTED ON FORM 990, PART VII, SECTION A, COLUMN D - REPORTABLE COMPENSATION. X 3 34115 FMV X 6 25533 FMV 0 0 0 PART I, LINE 30B: TAX FOUNDATION REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 4 IN MAY OF 2023, A RESOLUTION WAS MADE BY THE TAX FOUNDATION BOARD OF DIRECTORS TO AMEND THE BYLAWS AS FOLLOWS: 1. CHANGING THE NOMENCLATURE OF "PRESIDENT" TO "PRESIDENT & CHIEF EXECUTIVE OFFICER" 2. IN ARTICLE 2, SECTION 7(A), AMEND "ANNUAL MEETING" TO "BIANNUAL MEETINGS" 3. ADD ADDITIONAL ARTICLE TO ADHERE TO GOVERNING POLICY NUMBER 3-8(A). ARTICLE TO BE TITLED ALTERATION OF DONOR INTENT." ARTICLE TO STATE "A VOTE OF 75 PERCENT OF THE BOARD OF DIRECTORS IS REQUIRED TO MAKE ANY CHANGES IN PROVISIONS FOR HONORING DONOR INTENT." FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS REVIEWED BY THE ACCOUNTING PERSONNEL AND THE PRESIDENT OF THE TAX FOUNDATION BEFORE BEING SIGNED BY THE PRESIDENT. A COPY OF THE 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS ELECTRONICALLY PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C AS A GENERAL POLICY MATTER THE TAX FOUNDATION DOES NOT PERMIT MEMBERS OF THE BOARD OF DIRECTORS TO ENTER INTO FINANCIAL ARRANGEMENTS, PROVIDE SERVICES, OR OTHERWISE BE COMPENSATED IN ANY MANNER, INCLUDING ANY COMPANY WITH WHICH SUCH BOARD MEMBER MAY BE ASSOCIATED. BIANNUALLY, ALL OFFICERS AND MEMBERS OF THE BOARD OF DIRECTORS MUST REVIEW AND SIGN A CONFLICT OF INTEREST POLICY STATEMENT. THE MONITORING OF COMPLIANCE IS HANDLED INFORMALLY AT REGULARLY SCHEDULED BOARD MEETINGS. FOR EMPLOYEES, THE CONFLICT OF INTEREST POLICY IS CONTAINED WITHIN THEIR EMPLOYEE MANUAL. THEY SIGN THE MANUAL WHEN THEY ARE HIRED OR WHEN CHANGES ARE MADE TO THE MANUAL. FORM 990, PART VI, SECTION B, LINE 15 THE TAX FOUNDATION PARTICIPATES IN THE ANNUAL THINK TANK COMPENSATION SURVEY WHICH COLLECTS COMPENSATION AND BENEFITS DATA RELEVANT TO THINK TANKS AND OTHER RESEARCH ORGANIZATIONS IN THE UNITED STATES THAT CONDUCT RESEARCH IN THE PUBLIC POLICY, FOREIGN POLICY, AND INTERNATIONAL RELATIONS ARENAS. THE BOARD OF DIRECTORS UTILIZES ITS EXPERIENCE AND EXPERTISE IN CONJUNCTION WITH THE SURVEY RESULTS IN DETERMINING THE APPROPRIATE SALARY LEVEL ANNUALLY FOR THE PRESIDENT. THE LAST TIME THIS WAS DONE WAS IN NOVEMBER 2023. THE CHAIRPERSON OF THE BOARD OF DIRECTORS COMMUNICATES IN WRITING THE SALARY APPROVED BY THE BOARD TO THE APPROPRIATE ACCOUNTING AND HUMAN RESOURCES PERSONNEL IN DETERMINING THE APPROPRIATE SALARY LEVEL FOR THE PRESIDENT AND ALL STAFF MEMBERS. THE ORGANIZATION CURRENTLY HAS NO OTHER PAID OFFICERS OR STAFF MEMBERS CLASSIFIED AS "KEY EMPLOYEES" AS DEFINED BY THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES GOVERNING DOCUMENTS, THE FEDERAL FORM 990 AND APPLICATION FOR EXEMPTION (FEDERAL FORM 1023) TO INTERESTED PARTIES UPON REQUEST. COPIES OF THE AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE ON THE WEBSITE. THE ORGANIZATION HAS NOT BEEN ASKED TO AND CURRENTLY DOES NOT HAVE A POLICY OF PROVIDING A COPY OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION OF AN INDEPENDENT AUDITOR PROCESS DURING THE YEAR.