AMERICAN INSTITUTE FOR ECONOMIC RESEARCH

EIN: 042121305 501(c)(3) Social Science

GREAT BARRINGTON, MA

Total Revenue
$13,156,984
Total Expenses
$9,294,095
Total Assets
$227,083,306
Net Assets
$130,811,092
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
MA
Principal Officer
MICHELE M KEARNS
Phone
4135281216
Tax Period
2025-01-01 to 2025-12-31

AMERICAN INSTITUTE FOR ECONOMIC RESEARCH, founded in 1939, is a mid-sized nonprofit in the Social Science sector that reported $13.2M in total revenue in fiscal year 2025. Revenue surged 156% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.9M, a strong 29% operating margin.

Mission

AIER CONDUCTS INDEPENDENT, SCIENTIFIC, ECONOMIC RESEARCH TO EDUCATE PEOPLE, THEREBY ADVANCING THEIR PERSONAL INTERESTS AND THOSE OF THE NATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $9,608,864
Program Service Revenue $20,579
Investment Income $2,954,372
Other Revenue $573,169
TOTAL REVENUE $13,156,984

Expense Breakdown

Grants Paid $55,400
Salaries & Benefits $5,166,111
Fundraising Expenses $1,106,348
Program Expenses $6,502,624
Other Expenses $4,049,634
TOTAL EXPENSES $9,294,095

Year-over-Year Comparison

2025 2024 Change
Revenue $13,156,984 $5,149,493 +1.6%
Expenses $9,294,095 $8,720,217 +0.1%
Net Income $3,862,889 $-3,570,724 -2.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
12
Employees
74
Volunteers
22

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$911,601
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERRY W ANKER CHAIR (AS OF 10/25) 10.00
Officer Director
$0 $0 $0
KATHERINE H DELAY CHAIR (UNTIL 10/25) 10.00
Officer Director
$0 $0 $0
ROBERT SCHIMENZ SECRETARY 10.00
Officer Director
$0 $0 $0
GERALD P DWYER TRUSTEE 5.00
Director
$0 $0 $0
DOUGLAS L HARWOOD TRUSTEE 5.00
Director
$0 $0 $0
FREDERICK C HARWOOD TRUSTEE 5.00
Director
$0 $0 $0
BRADLEY K HOBBS TRUSTEE 5.00
Director
$0 $0 $0
NELSON E FURLANO TRUSTEE 5.00
Director
$0 $0 $0
TERRY KIBBE TRUSTEE 5.00
Director
$0 $0 $0
ADAM KISSEL TRUSTEE 5.00
Director
$0 $0 $0
BARRY LINDER TRUSTEE (AS OF 10/25) 5.00
Director
$0 $0 $0
JAMES C LORDEMAN TRUSTEE 5.00
Director
$0 $0 $0
REED E PHILLIPS TRUSTEE 5.00
Director
$0 $0 $0
SURSE T PIERPOINT TRUSTEE 5.00
Director
$0 $0 $0
BENJAMIN W POWELL TRUSTEE 5.00
Director
$0 $0 $0
WILLIAM RUGER PRESIDENT/DIRECTOR OF RESEARCH & EDUCATION (UNTIL 40.00
Officer
$226,392 $10,021 $236,413
SAMUEL GREGG PRESIDENT/FRIEDRICH HAYEK CHAIR IN ECONOMICS & ECO 40.00
Officer
$338,492 $14,906 $353,398
MICHELE M KEARNS VICE PRESIDENT, FINANCE & HR 40.00
Officer
$284,145 $37,645 $321,790
JASON SORENS SENIOR RESEARCH FELLOW 40.00
Highest
$165,858 $7,597 $173,455
RYAN YONK DIRECTOR OF EDUCATION & SENIOR RESEARCH FELLOW 40.00
Highest
$165,125 $7,566 $172,691
JASON KELLY DIRECTOR OF DATA & TECHNOLOGY 40.00
Highest
$147,684 $17,428 $165,112
BRITTNEY PAUL DIRECTOR OF STRATEGIC PARTNERSHIPS 40.00
Highest
$161,701 $21,043 $182,744
LAURIE B PSHENISHNY COMPTROLLER 40.00
Highest
$146,130 $23,889 $170,019
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $13,156,984 $9,294,095 $227,083,306 $3,862,889
2024 $5,149,493 $8,720,217 $199,167,146 $-3,570,724
2023 $4,819,132 $9,251,965 $193,880,453 $-4,432,833
2022 $3,395,556 $8,551,275 $184,181,536 $-5,155,719
2021 $3,768,400 $7,708,404 $214,395,947 $-3,940,004
2020 $2,549,173 $6,955,964 $198,677,158 $-4,406,791
2019 $4,350,200 $6,428,704 $203,380,124 $-2,078,504
2018 $2,222,727 $5,129,945 $184,901,564 $-2,907,218
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