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        <TitleTxt>EMPLOYEE</TitleTxt>
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        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>134806</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
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      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>0</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>9</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
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      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>KANOPI STUDIOS</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>526 ELIZABETH STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94114</ZIPCd>
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        <ServicesDesc>WEB DESIGN</ServicesDesc>
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      <CntrctRcvdGreaterThan100KCnt>1</CntrctRcvdGreaterThan100KCnt>
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      <TotalContributionsAmt>14101573</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>CONFERENCE AND SEMINAR FEES</Desc>
        <BusinessCd>611600</BusinessCd>
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        <RelatedOrExemptFuncIncomeAmt>166796</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>166796</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>1380075</TotalRevenueColumnAmt>
        <ExclusionAmt>1380075</ExclusionAmt>
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      <GrossRentsGrp>
        <RealAmt>70285</RealAmt>
      </GrossRentsGrp>
      <LessRentalExpensesGrp>
        <RealAmt>19486</RealAmt>
      </LessRentalExpensesGrp>
      <RentalIncomeOrLossGrp>
        <RealAmt>50799</RealAmt>
      </RentalIncomeOrLossGrp>
      <NetRentalIncomeOrLossGrp>
        <TotalRevenueColumnAmt>50799</TotalRevenueColumnAmt>
        <ExclusionAmt>50799</ExclusionAmt>
      </NetRentalIncomeOrLossGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>419252</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
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      <GainOrLossGrp>
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      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>419252</TotalRevenueColumnAmt>
        <ExclusionAmt>419252</ExclusionAmt>
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      <NetIncomeOrLossGrp>
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        <RelatedOrExemptFuncIncomeAmt>411387</RelatedOrExemptFuncIncomeAmt>
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      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS REVENUE</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>33478</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>33478</RelatedOrExemptFuncIncomeAmt>
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      <OtherRevenueTotalAmt>33478</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>16563360</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>611661</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>1850126</ExclusionAmt>
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      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>53893</TotalAmt>
        <ProgramServicesAmt>53893</ProgramServicesAmt>
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      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>848748</TotalAmt>
        <ProgramServicesAmt>848748</ProgramServicesAmt>
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        <TotalAmt>2103654</TotalAmt>
        <ProgramServicesAmt>1749366</ProgramServicesAmt>
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      <OtherEmployeeBenefitsGrp>
        <TotalAmt>289447</TotalAmt>
        <ProgramServicesAmt>254713</ProgramServicesAmt>
        <ManagementAndGeneralAmt>34734</ManagementAndGeneralAmt>
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      <PayrollTaxesGrp>
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        <ProgramServicesAmt>182027</ProgramServicesAmt>
        <ManagementAndGeneralAmt>24822</ManagementAndGeneralAmt>
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      <FeesForServicesAccountingGrp>
        <TotalAmt>79410</TotalAmt>
        <ManagementAndGeneralAmt>79410</ManagementAndGeneralAmt>
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        <TotalAmt>44807</TotalAmt>
        <ProgramServicesAmt>31468</ProgramServicesAmt>
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      <InformationTechnologyGrp>
        <TotalAmt>414165</TotalAmt>
        <ProgramServicesAmt>413438</ProgramServicesAmt>
        <ManagementAndGeneralAmt>727</ManagementAndGeneralAmt>
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      <OccupancyGrp>
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        <ProgramServicesAmt>90147</ProgramServicesAmt>
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        <ProgramServicesAmt>123097</ProgramServicesAmt>
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      <ConferencesMeetingsGrp>
        <TotalAmt>852404</TotalAmt>
        <ProgramServicesAmt>852404</ProgramServicesAmt>
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      <InterestGrp>
        <TotalAmt>8000</TotalAmt>
        <ManagementAndGeneralAmt>8000</ManagementAndGeneralAmt>
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        <TotalAmt>285487</TotalAmt>
        <ProgramServicesAmt>283005</ProgramServicesAmt>
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      <InsuranceGrp>
        <TotalAmt>58460</TotalAmt>
        <ProgramServicesAmt>33866</ProgramServicesAmt>
        <ManagementAndGeneralAmt>24594</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>PUBLICATIONS</Desc>
        <TotalAmt>721813</TotalAmt>
        <ProgramServicesAmt>721813</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>BOOKSTORE</Desc>
        <TotalAmt>186406</TotalAmt>
        <ProgramServicesAmt>186406</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>PUBLICITY</Desc>
        <TotalAmt>152017</TotalAmt>
        <ProgramServicesAmt>152017</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>REPAIRS AND MAINTENANCE</Desc>
        <TotalAmt>145935</TotalAmt>
        <ProgramServicesAmt>144665</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1270</ManagementAndGeneralAmt>
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      <AllOtherExpensesGrp>
        <TotalAmt>493717</TotalAmt>
        <ProgramServicesAmt>482955</ProgramServicesAmt>
        <ManagementAndGeneralAmt>10762</ManagementAndGeneralAmt>
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      <TotalFunctionalExpensesGrp>
        <TotalAmt>7159247</TotalAmt>
        <ProgramServicesAmt>6604028</ProgramServicesAmt>
        <ManagementAndGeneralAmt>555219</ManagementAndGeneralAmt>
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      <CashNonInterestBearingGrp>
        <BOYAmt>8238386</BOYAmt>
        <EOYAmt>16808775</EOYAmt>
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      <SavingsAndTempCashInvstGrp>
        <BOYAmt>14000000</BOYAmt>
        <EOYAmt>8500000</EOYAmt>
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      <PledgesAndGrantsReceivableGrp>
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        <EOYAmt>2269449</EOYAmt>
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      <InventoriesForSaleOrUseGrp>
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        <EOYAmt>339002</EOYAmt>
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      <PrepaidExpensesDefrdChargesGrp>
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        <EOYAmt>117043</EOYAmt>
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      <LandBldgEquipCostOrOtherBssAmt>9142956</LandBldgEquipCostOrOtherBssAmt>
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        <BOYAmt>4511549</BOYAmt>
        <EOYAmt>4417463</EOYAmt>
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      <InvestmentsPubTradedSecGrp>
        <BOYAmt>14332173</BOYAmt>
        <EOYAmt>20944597</EOYAmt>
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      <InvestmentsProgramRelatedGrp>
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        <EOYAmt>14447271</EOYAmt>
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        <BOYAmt>10512</BOYAmt>
        <EOYAmt>10275</EOYAmt>
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      <TotalAssetsGrp>
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        <EOYAmt>68122791</EOYAmt>
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      <AccountsPayableAccrExpnssGrp>
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        <EOYAmt>100000</EOYAmt>
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        <EOYAmt>25782</EOYAmt>
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      <TotalLiabilitiesGrp>
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        <EOYAmt>1145536</EOYAmt>
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      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
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      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>2441013</BOYAmt>
        <EOYAmt>3327478</EOYAmt>
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      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>54130197</BOYAmt>
        <EOYAmt>66977255</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>54656851</BOYAmt>
        <EOYAmt>68122791</EOYAmt>
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      <ReconcilationRevenueExpnssAmt>9404113</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>3442945</NetUnrlzdGainsLossesInvstAmt>
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      <InfoInScheduleOPartXIIInd>X</InfoInScheduleOPartXIIInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
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      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
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    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>14842671</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>7431769</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>10810648</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>6526224</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>14101573</CurrentTaxYearAmt>
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        <CurrentTaxYearMinus3YearsAmt>7431769</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>10810648</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>6526224</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>14101573</CurrentTaxYearAmt>
        <TotalAmt>53712885</TotalAmt>
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      <SubstantialContributorsTotAmt>14899380</SubstantialContributorsTotAmt>
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      <GrossInvestmentIncome170Grp>
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        <CurrentTaxYearMinus2YearsAmt>1812544</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>953675</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1464352</CurrentTaxYearAmt>
        <TotalAmt>4603667</TotalAmt>
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        <CurrentTaxYearMinus4YearsAmt>545629</CurrentTaxYearMinus4YearsAmt>
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        <CurrentTaxYearMinus1YearAmt>468863</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>630818</CurrentTaxYearAmt>
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      <GrossReceiptsRltdActivitiesAmt>2810590</GrossReceiptsRltdActivitiesAmt>
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      <PublicSupportPY170Pct>0.65620</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
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      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
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        <EndYearBalanceAmt>1682572</EndYearBalanceAmt>
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      <CYMinus1YrEndwmtFundGrp>
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        <InvestmentEarningsOrLossesAmt>155185</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1466261</EndYearBalanceAmt>
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        <InvestmentEarningsOrLossesAmt>-28491</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1311076</EndYearBalanceAmt>
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      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1327250</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>12317</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1339567</EndYearBalanceAmt>
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      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1314717</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>12533</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1327250</EndYearBalanceAmt>
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      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
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        <BookValueAmt>1138145</BookValueAmt>
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      <BuildingsGrp>
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      <EquipmentGrp>
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      <OtherLandBuildingsGrp>
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      <InvstProgramRelatedOrgGrp>
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        <BookValueAmt>154870</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
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      <InvstProgramRelatedOrgGrp>
        <Desc>PRECIOUS METALS</Desc>
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        <MethodValuationCd>F</MethodValuationCd>
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        <Desc>LIFE ESTATE</Desc>
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        <MethodValuationCd>F</MethodValuationCd>
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      <SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
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      <GrantsOtherAsstToIndivInUSGrp>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTE AWARDS GRANTS TO INDIVIDUALS FOR THE PURPOSE OF FURTHERING THEIR STUDIES AND RESEARCH INTO AUSTRIAN ECONOMICS. ALL RECIPIENTS ARE INVOLVED IN PROGRAMS SUPPORTED BY THE INSTITUTE AND AS SUCH ARE PRESENT AT INSTITUTE FACILITIES DURING THE PERFORMANCE OF THE SERVICES FOR WHICH THEY ARE AWARDED GRANTS.</ExplanationTxt>
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      <IdemnificationGrossUpPmtsInd>X</IdemnificationGrossUpPmtsInd>
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      <SubstantiationRequiredInd>1</SubstantiationRequiredInd>
      <Form990OfOtherOrganizationsInd>X</Form990OfOtherOrganizationsInd>
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      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>THOMAS DILORENZO</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>LLEWELLYN H ROCKWELL JR</PersonNm>
        <TitleTxt>CHAIRMAN</TitleTxt>
        <BaseCompensationFilingOrgAmt>215614</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>KAREN DECOSTER</PersonNm>
        <TitleTxt>VICE PRESIDENT</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
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    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>LLEWELLYN H. ROCKWELL JR. AND DEBORAH A AYERS ARE SIBLINGS. MARDELLE O. ROCKWELL AND LLEWELLYN H. ROCKWELL JR. ARE HUSBAND AND WIFE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE FORM 990 IS DISTRIBUTED TO THE OFFICERS AND BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTE PERFORMS AN ANNUAL INTERNAL REVIEW OF THE CONFLICT OF INTEREST POLICY UTILIZING A LEGAL COUNCEL PRESENTATION IN A STAFF MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>COMPENSATION WAS APPROVED BY INDEPENDENT BOARD MEMBERS. DATA FROM SIMILAR NOT-FOR-PROFIT ENTITIES WAS USED FOR PURPOSES OF COMPARISON.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>FINANCIAL STATEMENTS AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE ON THE INSTITUTE'S WEBSITE AND ARE ALSO AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION</FormAndLineReferenceDesc>
        <ExplanationTxt>FOR THE YEAR ENDING DECEMBER 31, 2024 LUDWIG VON MISES INSTITUTE FOR AUSTRIAN ECONOMICS IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG SEC 1.263(A)-1-(F).</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>