INSTITUTE ON TAXATION AND ECONOMIC… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

AMY HANAUER

Phone

2022991066

Tax Period

2025-01-01 to 2025-12-31

INSTITUTE ON TAXATION AND ECONOMIC POLICY, founded in 1979, is a community nonprofit in the Public & Societal Benefit sector that reported $8.5M in total revenue in fiscal year 2025. Revenue surged 114% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.7M, a strong 43% operating margin.

Mission

ITEP IS A NON-PROFIT, NON-PARTISAN TAX POLICY ORGANIZATION. WE CONDUCT RIGOROUS ANALYSES OF TAX AND ECONOMIC PROPOSALS AND PROVIDE DATA-DRIVEN RECOMMENDATIONS ON HOW TO SHAPE EQUITABLE AND SUSTAINABLE TAX SYSTEMS. ITEP'S EXPERTISE AND DATA UNIQUELY ENHANCE FEDERAL, STATE, AND LOCAL POLICY DEBATES BY REVEALING HOW TAXES AFFECT BOTH PUBLIC REVENUES AND PEOPLE OF VARIOUS LEVELS OF INCOME AND WEALTH.

Program Service Accomplishments

Program 1

Expenses: $4,262,559 Revenue: $237,386

ITEP CONDUCTS RESEARCH AND ANALYSIS OF FEDERAL, STATE AND LOCAL TAX PROPOSALS. ITEP USES A MICROSIMULATION MODEL THAT CONTAINS THE BEST AND MOST UP-TO-DATE INFORMATION ON TAX INCIDENCE BY INCOME...

ITEP CONDUCTS RESEARCH AND ANALYSIS OF FEDERAL, STATE AND LOCAL TAX PROPOSALS. ITEP USES A MICROSIMULATION MODEL THAT CONTAINS THE BEST AND MOST UP-TO-DATE INFORMATION ON TAX INCIDENCE BY INCOME, RACE, ETHNICITY AND PLACE. ITEP WORKS CLOSELY WITH PARTNERS NATIONWIDE TO UNDERSTAND THE DISTRIBUTIONAL IMPLICATIONS OF TAX PROPOSALS AND MAKE RECOMMENDATIONS ABOUT HOW TO RAISE MORE REVENUE AND BRING ABOUT MORE DISTRIBUTIONAL EQUITY THROUGH THE TAX CODE. IN 2025, ITEP RELEASED 150 REPORT, TRACKED NEARLY 8,000 MEDIA MENTIONS, SAW 3 MILLION VIEWS TO OUR WEBSITE, AND ASSISTED PARTNERS IN NEARLY EVERY STATE WITH MODELING ON IMPLICATIONS OF TAX PROPOSALS OR WITH RESEARCH ON STATE TAX POLICY.

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $8,199,374

Program Service Revenue $237,386

Investment Income $53,276

Other Revenue $0

TOTAL REVENUE $8,490,036

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,284,555

Fundraising Expenses $247,884

Program Expenses $4,262,559

Other Expenses $537,825

TOTAL EXPENSES $4,822,380

Year-over-Year Comparison

	2025	2024	Change
Revenue	$8,490,036	$3,966,909	+1.1%
Expenses	$4,822,380	$3,954,281	+0.2%
Net Income	$3,667,656	$12,628	+289.4%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$307,215

Total Directors

Key Employees

$431,195

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WHITNEY JEMISON	CHAIR	1.50	Officer Director	$0	$0	$0
DARIEN SHANSKE	TREASURER	1.50	Officer Director	$0	$0	$0
SARAH PRAY	BOARD GOVERNANCE CHAIR	1.50	Officer Director	$0	$0	$0
JASON BAILEY	DIRECTOR	0.50	Director	$0	$0	$0
JOAN ENTMACHER	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL MAZEROV	DIRECTOR	0.50	Director	$0	$0	$0
CONNIE RAZZA	DIRECTOR	0.50	Director	$0	$0	$0
ERIC RODRIGUEZ	DIRECTOR	0.50	Director	$0	$0	$0
NICOLE RODRIGUEZ	DIRECTOR	0.50	Director	$0	$0	$0
ERIN SCHARFF	DIRECTOR	0.50	Director	$0	$0	$0
AMBER WALLIN	DIRECTOR	0.50	Director	$0	$0	$0
ERICA WILLIAMS	DIRECTOR	0.50	Director	$0	$0	$0
LIZ WATSON	DIRECTOR (FROM DEC 25)	0.50	Director	$0	$0	$0
VANESSA WILLIAMSON	DIRECTOR (FROM DEC 25)	0.50	Director	$0	$0	$0
NAOMI WALKER	DIRECTOR (THRU DEC 25)	0.50	Director	$0	$0	$0
CYNTHIA CONNOLLY	DIRECTOR (THRU DEC 25)	0.50	Director	$0	$0	$0
AMY HANAUER	EXECUTIVE DIRECTOR	35.00	Officer	$219,286	$87,929	$307,215
JON WHITEN	DEPUTY DIRECTOR	35.00	Key Emp	$163,593	$47,359	$210,952
STEVE WAMHOFF	FEDERAL POLICY DIRECTOR	35.00	Key Emp	$162,948	$57,295	$220,243
ERIKA FRANKEL	DATA AND MODEL DIRECTOR	35.00	Highest	$139,515	$42,952	$182,467
MICHAEL ETTLINGER	SENIOR FELLOW	26.30	Highest	$158,984	$58,994	$217,978
MATTHEW GARDNER	SENIOR FELLOW	35.00	Highest	$149,230	$50,923	$200,153
CARL DAVIS	RESEARCH DIRECTOR	35.00	Highest	$143,885	$62,389	$206,274
NICHOLAS JOHNSON	SENIOR FELLOW	29.60	Highest	$161,200	$56,120	$217,320

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	$8,490,036	$4,822,380	$9,251,024	$3,667,656
2024	No data	No data	No data	No data
2023	$2,635,519	$3,630,121	$4,926,104	$-994,602
2022	$5,613,646	$3,010,966	$6,080,421	$2,602,680
2021	$2,965,495	$2,764,609	$2,141,343	$200,886
2020	$2,428,949	$2,482,828	$1,896,213	$-53,879
2019	$1,108,156	$2,191,570	$1,872,425	$-1,083,414
2018	$4,189,535	$2,130,137	$3,019,864	$2,059,398

INSTITUTE ON TAXATION AND ECONOMIC POLICY