Foundation for the Defense of Democracies Inc (EIN 134174402) - 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

2001

Legal Domicile

Principal Officer

Clifford D May

Phone

2022070190

Tax Period

2024-01-01 to 2024-12-31

Foundation for the Defense of Democracies Inc, founded in 2001, is a mid-sized nonprofit in the International Affairs sector that reported $32.5M in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $30.9M left a modest 5% surplus.

Mission

Research institute focusing on foreign policy and national security- See Schedule O

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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 $31,956,043

Program Service Revenue $128,718

Investment Income $346,332

Other Revenue $107,516

TOTAL REVENUE $32,538,609

Expense Breakdown

Grants Paid $900,000

Salaries & Benefits $16,359,974

Fundraising Expenses $2,892,504

Program Expenses $23,031,887

Other Expenses $13,662,896

TOTAL EXPENSES $30,922,870

Year-over-Year Comparison

	2024	2023	Change
Revenue	$32,538,609	$23,924,041	+0.4%
Expenses	$30,922,870	$25,394,541	+0.2%
Net Income	$1,615,739	$-1,470,500	-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

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

102

Volunteers

110

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

$2,956,591

Total Directors

$1,749,610

Key Employees

$949,215

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy Gordon	Chairman	2.00	Officer Director	$0	$0	$0
Leonard Abramson	Director	1.00	Director	$0	$0	$0
Isaac Applbaum	Director	1.00	Director	$0	$0	$0
David Arditi	Director	1.00	Director	$0	$0	$0
David Barish	Director	1.00	Director	$0	$0	$0
Brian Bilzin	Director	1.00	Director	$0	$0	$0
Michael Cohen	Director	1.00	Director	$0	$0	$0
Eric Dezenhall	Director	1.00	Director	$0	$0	$0
Larry Hochberg	Director	1.00	Director	$0	$0	$0
David Horowitz	Director	1.00	Director	$0	$0	$0
Robert Kargman	Director	1.00	Director	$0	$0	$0
Lennert Leader	Director	1.00	Director	$0	$0	$0
James Litinsky	Director	1.00	Director	$0	$0	$0
Bernard Marcus deceased 1124	Director	1.00	Director	$0	$0	$0
Alan Meltzer	Director	1.00	Director	$0	$0	$0
David Naftaly	Director	1.00	Director	$0	$0	$0
Natty Nashman	Director	1.00	Director	$0	$0	$0
Mark Pelson	Director	1.00	Director	$0	$0	$0
Mark Pruzanksi	Director	1.00	Director	$0	$0	$0
Kenneth Schwartz	Director	1.00	Director	$0	$0	$0
Tina Snider	Director	1.00	Director	$0	$0	$0
David Sterling	Director	1.00	Director	$0	$0	$0
Gil Tenzer	Director	1.00	Director	$0	$0	$0
Mark Dubowitz	CEO	60.00	Officer Director	$848,899	$56,391	$905,290
Clifford May	President	60.00	Officer Director	$793,905	$49,711	$844,320
Jonathan J Schanzer	SVP	60.00	Officer	$578,337	$60,113	$639,147
William McCarthy	COO	48.00	Officer	$548,961	$14,246	$567,834
Lawrence Muscant	SVP (Sr. Advisor Mid Year)	50.00	Key Emp	$512,378	$40,461	$552,839
Lesli Gillette	VP, Development	60.00	Key Emp	$337,857	$58,519	$396,376
Eyal Hulata	Senior International Fellow	50.00	Highest	$401,906	$46,264	$448,170
Mark Montgomery	Senior Director / Senior Fellow	50.00	Highest	$308,711	$27,542	$336,253
Elizabeth L Robbins	VP	50.00	Highest	$315,521	$16,066	$331,587
Elaine K Dezenski	Senior Director	50.00	Highest	$293,652	$47,286	$340,938
Bradley L Bowman	Senior Director	50.00	Highest	$302,275	$47,067	$349,342

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
2024	$32,538,609	$30,922,870	$41,304,210	$1,615,739
2023	$23,924,041	$25,394,541	$31,722,831	$-1,470,500
2022	$18,424,072	$19,996,565	$33,154,261	$-1,572,493
2021	$16,099,025	$17,665,987	$31,755,415	$-1,566,962
2020	$15,032,714	$16,908,812	$33,130,022	$-1,876,098
2019	$32,652,793	$16,963,767	$34,951,269	$15,689,026
2018	$12,475,125	$14,978,645	$19,230,583	$-2,503,520

Foundation for the Defense of Democracies Inc