NATIONAL BUREAU OF ECONOMIC RESEARCH INC (EIN 131641075) - Form 990 Financial Analysis & Trantor Score

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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

1920

Legal Domicile

Principal Officer

JAMES POTERBA

Phone

6178683900

Tax Period

2024-07-01 to 2025-06-30

NATIONAL BUREAU OF ECONOMIC RESEARCH INC, founded in 1920, is a mid-sized nonprofit in the Social Science sector that reported $47.0M in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $8.1M, a strong 17% operating margin.

Mission

THE NATIONAL BUREAU OF ECONOMIC RESEARCH IS A PRIVATE, NONPROFIT, NONPARTISAN RESEARCH ORGANIZATION DEDICATED TO PROMOTING A GREATER UNDERSTANDING OF HOW THE ECONOMY WORKS. IT IS COMMITTED TO UNDERTAKING AND DISSEMINATING UNBIASED ECONOMIC RESEARCH AMONG ACADEMIC RESEARCHERS, POLICY-MAKERS, AND BUSINESS PROFESSIONALS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $30,571,240

Program Service Revenue $1,593,780

Investment Income $14,830,398

Other Revenue $0

TOTAL REVENUE $46,995,418

Expense Breakdown

Grants Paid $1,623,017

Salaries & Benefits $19,101,581

Fundraising Expenses $97,655

Program Expenses $27,311,782

Other Expenses $18,199,366

TOTAL EXPENSES $38,923,964

Year-over-Year Comparison

	2024	2023	Change
Revenue	$46,995,418	$61,021,762	-0.2%
Expenses	$38,923,964	$38,448,505	+0.0%
Net Income	$8,071,454	$22,573,257	-0.6%

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

458

Volunteers

N/A

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

$1,980,537

Total Directors

$968,625

Key Employees

$390,906

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES M POTERBA	PRESIDENT & CEO	35.00	Officer Director	$886,629	$81,996	$968,625
PETER BLAIR HENRY	CHAIR & DIRECTOR	1.00	Officer Director	$0	$0	$0
KAREN G MILLS	VICE CHAIR & DIRECTOR	1.00	Officer Director	$0	$0	$0
BARRY MELANCON	TREASURER & DIRECTOR	1.00	Officer Director	$0	$0	$0
TIMOTHY BEATTY	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY BRESNAHAN	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN B COOPER	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN CROPPER	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES H DALLARA	DIRECTOR	1.00	Director	$0	$0	$0
ALAN V DEARDORFF	DIRECTOR	1.00	Director	$0	$0	$0
MOHAMED EL-ERIAN	DIRECTOR	1.00	Director	$0	$0	$0
GRAHAM ELLIOTT	DIRECTOR	1.00	Director	$0	$0	$0
DIANA FARRELL	DIRECTOR	1.00	Director	$0	$0	$0
HELENA FOULKES	DIRECTOR	1.00	Director	$0	$0	$0
ESTHER GEORGE	DIRECTOR	1.00	Director	$0	$0	$0
DARRICK HAMILTON	DIRECTOR	1.00	Director	$0	$0	$0
PETER HANCOCK	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN HERMALIN	DIRECTOR	1.00	Director	$0	$0	$0
KAREN N HORN	DIRECTOR	1.00	Director	$0	$0	$0
R GLENN HUBBARD	DIRECTOR	1.00	Director	$0	$0	$0
CONSTANCE HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
LISA JORDAN	DIRECTOR	1.00	Director	$0	$0	$0
ARTHUR KENNICKELL	DIRECTOR	1.00	Director	$0	$0	$0
KARIN KIMBOROUGH	DIRECTOR	1.00	Director	$0	$0	$0
SAMUEL KORTUM	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM M LEWIS JR	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LIPSKY	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE J MAILATH	DIRECTOR	1.00	Director	$0	$0	$0
ANNE MCCANTS	DIRECTOR	1.00	Director	$0	$0	$0
ANGELO MELINO	DIRECTOR	1.00	Director	$0	$0	$0
JOEL MOKYR	DIRECTOR	1.00	Director	$0	$0	$0
LAURENCE C MORSE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL H MOSKOW	DIRECTOR	1.00	Director	$0	$0	$0
ALICIA H MUNNELL	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN O'HARA	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PEPPER	DIRECTOR	1.00	Director	$0	$0	$0
DANA M PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW RACINE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN S REED	DIRECTOR	1.00	Director	$0	$0	$0
PETER L ROUSSEAU	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SCHMALENSEE	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER SIMS	DIRECTOR	1.00	Director	$0	$0	$0
GREGOR W SMITH	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD STECKEL	DIRECTOR	1.00	Director	$0	$0	$0
ANNE HUFF STEVENS	DIRECTOR	1.00	Director	$0	$0	$0
LARS STOLE	DIRECTOR	1.00	Director	$0	$0	$0
HAL VARIAN	DIRECTOR	1.00	Director	$0	$0	$0
INGO WALTER	DIRECTOR	1.00	Director	$0	$0	$0
MARK WEINBERGER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID B YOFFIE	DIRECTOR	1.00	Director	$0	$0	$0
MARTIN B ZIMMERMAN	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE AKERLOF	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
PETER C ALDRICH	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
JAGDISH BHAGWATI	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
DON R CONLAN	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
GEORGE C EADS	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
JESSICA P EINHORN	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
RAY C FAIR	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
JACOB A FRENKEL	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
MARTIN GRUBER	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
ROBERT S HAMADA	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
SAUL H HYMANS	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
MARJORIE B MCELROY	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
ROBERT MEDNICK	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
LAURENCE H MEYER	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
ROBERT T PARRY	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
ANDREW POSTLEWAITE	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
JOHN J SIEGFRIED	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
CRAIG SWAN	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
MARINA V N WHITMAN	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
ALTERRA MILONE	CORP SEC & DIR OF GRANTS	35.00	Officer	$291,601	$99,409	$391,010
KELLY HORAK	ASST CORP SEC & CONTROLLER	35.00	Officer	$266,032	$81,832	$347,864
DENIS HEALY	ASST CORP SEC & DIR CORP RELATIONS	35.00	Officer	$146,659	$52,873	$199,532
ABIGAIL MURRELL	ASST CORP SEC & CORP/FOUND. RELATIONS	35.00	Officer	$64,054	$9,452	$73,506
ERIN RICHARDSON	DIR OF INFORMATION SYSTEMS	35.00	Key Emp	$308,434	$82,472	$390,906
MOHAN RAMANUJAN	UNIX SYSTEM ADMINISTRATOR	35.00	Highest	$243,769	$87,224	$330,993
STEVE HARRIMAN	ASST DIR OF ACCOUNTING	35.00	Highest	$197,059	$80,143	$277,202
RICHARD WOODBURY	AGING PROGRAM SPECIALIST	26.00	Highest	$207,774	$68,943	$276,717
ALISON OAXACA	ASST DIR OF GRANTS	35.00	Highest	$175,572	$50,204	$225,776
DEBORAH NICHOLSON	WEBMASTER	28.00	Highest	$157,227	$60,721	$217,948

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	$46,995,418	$38,923,964	$206,005,855	$8,071,454
2024	$61,021,762	$38,448,505	$189,583,834	$22,573,257
2023	$41,671,966	$38,473,599	$176,832,918	$3,198,367
2022	$42,145,646	$33,720,721	$153,221,973	$8,424,925
2021	$54,750,098	$33,621,885	$177,982,489	$21,128,213
2020	$42,730,306	$36,548,432	$137,370,468	$6,181,874
2019	$40,352,849	$37,868,038	$138,494,267	$2,484,811
2018	$44,375,535	$40,635,874	$136,259,551	$3,739,661

NATIONAL BUREAU OF ECONOMIC RESEARCH INC