MANHATTAN INSTITUTE FOR POLICY RES… - 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

1977

Legal Domicile

Principal Officer

REIHAN SALAM

Phone

2125997000

Tax Period

2023-10-01 to 2024-09-30

MANHATTAN INSTITUTE FOR POLICY RESEARCH INC, founded in 1977, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $25.5M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Expenses of $23.6M left a modest 7% surplus.

Mission

THE MANHATTAN INSTITUTE IS A COMMUNITY OF SCHOLARS, JOURNALISTS, ACTIVISTS, AND CIVIC LEADERS DEDICATED TO ADVANCING OPPORTUNITY, INDIVIDUAL LIBERTY, AND THE RULE OF LAW IN AMERICA AND ITS GREAT CITIES.

Program Service Accomplishments

Program 1

Expenses: $12,896,035 Revenue: $103,692

RESEARCH, OTHER, AND PUBLICATIONS - THIS PROGRAM'S OBJECTIVE IS TO SUPPORT AND PUBLISH THE WORK OF MI SCHOLARS WHO ARE NOT PART OF ANOTHER POLICY CENTER. IT ALSO COORDINATES THE WORK OF STAFF AND...

RESEARCH, OTHER, AND PUBLICATIONS - THIS PROGRAM'S OBJECTIVE IS TO SUPPORT AND PUBLISH THE WORK OF MI SCHOLARS WHO ARE NOT PART OF ANOTHER POLICY CENTER. IT ALSO COORDINATES THE WORK OF STAFF AND SCHOLARS IN THE OTHER SUBSTANTIVE POLICY CENTERS.

Program 2

Expenses: $3,934,202 Revenue: $0

CITY JOURNAL - QUARTERLY MAGAZINE DEVOTED TO IDENTIFYING PRACTICAL SOLUTIONS TO SOCIAL AND ECONOMIC PROBLEMS IN THE INNER CITIES; APPROXIMATELY 7,500 DISTRIBUTED COPIES PER QUARTER.

Program 3

Expenses: $1,243,430 Revenue: $0

CONFERENCES AND SEMINARS - THE SEMINARS & CONFERENCES PROGRAM HOSTS PUBLIC, EDUCATIONAL FORUMS AND LECTURES ON TOPICS RELATED TO THE INSTITUTE'S POLICY RESEARCH AREAS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $23,969,727

Program Service Revenue $103,692

Investment Income $768,716

Other Revenue $660,414

TOTAL REVENUE $25,502,549

Expense Breakdown

Grants Paid $45,990

Salaries & Benefits $15,194,393

Fundraising Expenses $973,589

Program Expenses $19,226,723

Other Expenses $8,366,757

TOTAL EXPENSES $23,607,140

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,502,549	$26,924,098	-0.1%
Expenses	$23,607,140	$21,583,113	+0.1%
Net Income	$1,895,409	$5,340,985	-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

103

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

$1,554,966

Total Directors

$737,157

Key Employees

$1,222,055

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REIHAN SALAM	PRESIDENT	40.00	Officer Director	$695,827	$41,330	$737,157
PAUL SINGER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
ANN J CHARTERS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM P BARR	TRUSTEE	0.60	Director	$0	$0	$0
BETSY DEVOS	TRUSTEE	0.60	Director	$0	$0	$0
FLEUR HARLAN	TRUSTEE	0.60	Director	$0	$0	$0
JAY LEFKOWITZ	TRUSTEE	0.60	Director	$0	$0	$0
ROBERT ROSENKRANZ	TRUSTEE	0.60	Director	$0	$0	$0
NATHAN E SAINT-AMAND	TRUSTEE	0.60	Director	$0	$0	$0
KENNETH B GILMAN	TRUSTEE	1.00	Officer Director	$0	$0	$0
ROGER KIMBALL	TRUSTEE	0.60	Director	$0	$0	$0
FRANCIS BLAKE	TRUSTEE	0.60	Director	$0	$0	$0
MICHAEL J FEDAK	TRUSTEE	0.60	Director	$0	$0	$0
MICHAEL A KAUFMAN	TRUSTEE	0.60	Director	$0	$0	$0
JAY H NEWMAN	TRUSTEE	0.60	Director	$0	$0	$0
NICK OHNELL	TRUSTEE	0.60	Director	$0	$0	$0
THOMAS W SMITH	TRUSTEE	0.60	Director	$0	$0	$0
KATHY CROW	TRUSTEE	0.60	Director	$0	$0	$0
HARVEY GOLUB	TRUSTEE	0.60	Director	$0	$0	$0
JOSEPH KRISTOL	TRUSTEE	0.60	Director	$0	$0	$0
JOHN PAULSON	TRUSTEE	0.60	Director	$0	$0	$0
KATHRYN S WYLDE	TRUSTEE	0.60	Director	$0	$0	$0
RAVENEL CURRY	TRUSTEE	0.60	Director	$0	$0	$0
MAURICE R GREENBERG	TRUSTEE	0.60	Director	$0	$0	$0
SUSAN LEBOVITZ-EDELMAN	TRUSTEE	0.60	Director	$0	$0	$0
RUSSELL PENNOYER	TRUSTEE	0.60	Director	$0	$0	$0
WARREN STEPHENS	TRUSTEE	0.60	Director	$0	$0	$0
ANTHONY P COLES	TRUSTEE	0.60	Director	$0	$0	$0
ILANA GOLANT	EXECUTIVE VICE PRESIDENT	40.00	Officer	$568,521	$13,200	$581,721
BENJAMIN MCDOWELL BIRNEY	VP, ADMIN / GENERAL COUNSEL	40.00	Officer	$208,672	$27,416	$236,088
BRIAN CHARLES ANDERSON	EDITOR, CITY JOURNAL	40.00	Key Emp	$293,850	$39,944	$333,794
BRANDON FULLER	VP, RESEARCH & POLICY	40.00	Key Emp	$243,480	$10,403	$253,883
YAEL LEVIN HUNGERFORD	EXEC DIR, ADAM SMITH SOCIETY	40.00	Key Emp	$186,196	$11,573	$197,769
ANDREW LAW	VP, DEVELOPMENT	40.00	Key Emp	$194,021	$28,075	$222,096
MICHELE LEE JACOB	VP, STRATEGY & COMMUNICATIONS	40.00	Key Emp	$194,255	$20,258	$214,513
JASON RILEY	SENIOR FELLOW	40.00	Highest	$399,146	$8,670	$407,816
MARK PHILIP MILLS	SENIOR FELLOW	40.00	Highest	$302,220	$31,528	$333,748
CHRISTOPHER RUFO	SENIOR FELLOW	40.00	Highest	$252,700	$29,033	$281,733
HEATHER MAC DONALD	THOMAS W SMITH FELLOW	40.00	Highest	$253,887	$19,535	$273,422
JESSICA RIEDL	SENIOR FELLOW	40.00	Highest	$203,985	$36,357	$240,342

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	No data	No data	No data	No data
2024	$5,925,925	$6,276,220	$43,431,878	$-350,295
2024	$25,502,549	$23,607,140	$44,258,267	$1,895,409
2023	$26,924,098	$21,583,113	$40,635,970	$5,340,985
2022	$20,278,898	$17,079,202	$25,642,657	$3,199,696
2021	$16,694,868	$15,701,917	$22,398,458	$992,951
2020	$18,531,014	$17,381,125	$19,948,776	$1,149,889
2019	$15,565,468	$20,159,557	$19,118,474	$-4,594,089
2018	$20,277,506	$19,691,658	$23,314,420	$585,848

MANHATTAN INSTITUTE FOR POLICY RESEARCH INC