THE HERITAGE FOUNDATION (EIN 237327730) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1973

Legal Domicile

Principal Officer

KEVIN D ROBERTS

Phone

2025464400

Tax Period

2023-01-01 to 2023-12-31

THE HERITAGE FOUNDATION, founded in 1973, is a major nonprofit in the Public & Societal Benefit sector that reported $101.0M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Net assets of $347.7M represent 41 months of operating reserves.

Mission

TO FORMULATE AND PROMOTE CONSERVATIVE PUBLIC POLICIES BASED ON THE PRINCIPLES OF FREE ENTERPRISE, LIMITED GOVERNMENT, INDIVIDUAL FREEDOM, TRADITIONAL AMERICAN VALUES, AND A STRONG NATIONAL DEFENSE.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $97,801,739

Program Service Revenue $83,247

Investment Income $2,593,654

Other Revenue $484,710

TOTAL REVENUE $100,963,350

Expense Breakdown

Grants Paid $1,660,000

Salaries & Benefits $49,494,451

Fundraising Expenses $16,645,037

Program Expenses $87,694,931

Other Expenses $54,409,909

TOTAL EXPENSES $107,739,177

Year-over-Year Comparison

	2023	2022	Change
Revenue	$100,963,350	$106,329,524	-0.1%
Expenses	$107,739,177	$93,668,116	+0.2%
Net Income	$-6,775,827	$12,661,408	-1.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

517

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

$5,347,803

Total Directors

$36,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARB VAN ANDEL-GABY	CHAIRMAN	2.00	Director	$0	$0	$0
MICHAEL W GLEBA	VICE CHAIRMAN	2.00	Director	$0	$0	$0
EDWIN MEESE III	CONSULTANT & TRUSTEE	6.00	Director	$36,000	$0	$36,000
LARRY P ARNN PHD	TRUSTEE	1.00	Director	$0	$0	$0
JOHN COLEMAN	TRUSTEE	1.00	Director	$0	$0	$0
EDWIN J FEULNER PHD	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT P GEORGE	TRUSTEE	1.00	Director	$0	$0	$0
RYAN HAGGERTY	TRUSTEE	1.00	Director	$0	$0	$0
PRICE HARDING	TRUSTEE	1.00	Director	$0	$0	$0
VIRGINIA HECKMAN	TRUSTEE	1.00	Director	$0	$0	$0
MARK A KOLOKOTRONES	TRUSTEE	1.00	Director	$0	$0	$0
REBEKAH A MERCER	TRUSTEE	1.00	Director	$0	$0	$0
ABBY SPENCER MOFFAT	TRUSTEE	1.00	Director	$0	$0	$0
NERSI NAZARI PHD	TRUSTEE	2.00	Director	$0	$0	$0
DARRYLE OWENS	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY J SALIBA	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN TRACY	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN ROBERTS	PRESIDENT	32.00	Officer	$670,981	$87,469	$926,195
DERRICK MORGAN	EXECUTIVE VICE PRESIDENT	40.00	Officer	$540,696	$86,247	$626,943
ERIC KORSVALL	CHIEF OPERATING OFFICER	40.00	Officer	$440,009	$69,947	$509,956
JOHN BACKIEL	VP, FINANCE, ACCOUNTING & TREASURER	40.00	Officer	$294,759	$57,888	$352,647
ROBERT BLUEY	VP, COMMUNICATIONS	40.00	Officer	$299,859	$58,626	$358,485
CHRISTOPHER BYRNES	GEN. COUNSEL & SECRETARY	40.00	Officer	$181,883	$19,101	$200,984
JAMES CARAFANO	SR. FELLOW	40.00	Officer	$313,731	$49,765	$363,496
JOHN MALCOLM	VP, INST. FOR CONSTITUTIONAL GOV'T	40.00	Officer	$297,229	$56,295	$353,524
DAN MAULER	GENERAL COUNSEL & SECRETARY	28.00	Officer	$229,850	$50,590	$378,947
ANDREW MCINDOE	VP, DEVELOPMENT	40.00	Officer	$210,278	$22,376	$232,654
ANDREW OLIVASTRO	CHIEF ADVANCEMENT OFFICER	40.00	Officer	$273,994	$62,516	$336,510
ROGER SEVERINO	VP, DOMESTIC POLICY	40.00	Officer	$315,355	$63,075	$378,430
BRIDGETT WAGNER	ED THE FEULNER INSTITUTE	40.00	Officer	$273,375	$55,657	$329,032
PAUL DANS	DIRECTOR, PROJECT 2025	40.00	Highest	$295,079	$38,923	$334,002
CHAD BAREFOOT	DIRECTOR, DONOR RELATIONS	40.00	Highest	$281,598	$33,093	$314,691
MIKE GONZALEZ	SR. FELLOW	40.00	Highest	$259,378	$50,321	$309,699
CARSTEN WALTER	SR. FELLOW	40.00	Highest	$258,369	$50,129	$308,498
STEVEN BRADBURY	DISTINGUISHED FELLOW, EVP'S OFFICE	40.00	Highest	$265,951	$21,376	$287,327
JACK SPENCER	SR. RESEARCH FELLOW	40.00		$197,193	$28,010	$225,203

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	No data	No data	No data	No data
2023	$100,963,350	$107,739,177	$415,053,399	$-6,775,827
2022	$106,329,524	$93,668,116	$387,665,165	$12,661,408
2021	$101,783,032	$85,809,083	$421,262,128	$15,973,949
2020	$119,134,479	$78,753,539	$381,332,869	$40,380,940
2019	$122,861,202	$77,972,750	$365,763,848	$44,888,452
2018	$81,056,876	$79,928,180	$294,687,214	$1,128,696

THE HERITAGE FOUNDATION