THE HERITAGE FOUNDATION

EIN: 237327730 501(c)(3) Public & Societal Benefit

WASHINGTON, DC

Total Revenue
$100,963,350
Total Expenses
$107,739,177
Total Assets
$415,053,399
Net Assets
$347,683,824
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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
DC
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.

Program Service Accomplishments

Program 1
Expenses: $38,786,751

PUBLIC POLICY RESEARCH:THE HERITAGE FOUNDATION (THE "FOUNDATION") PRODUCES RESEARCH PAPERS ANNUALLY, INCLUDING ISSUE BRIEFS, BLOG POSTS, FACT SHEETS, BACKGROUNDERS, GUIDES, AND BOOKS ADDRESSING A...

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PUBLIC POLICY RESEARCH:THE HERITAGE FOUNDATION (THE "FOUNDATION") PRODUCES RESEARCH PAPERS ANNUALLY, INCLUDING ISSUE BRIEFS, BLOG POSTS, FACT SHEETS, BACKGROUNDERS, GUIDES, AND BOOKS ADDRESSING A BROAD RANGE OF ECONOMIC, DOMESTIC, FOREIGN, NATIONAL SECURITY, AND LEGAL POLICY ISSUES. THE FOUNDATION PUBLISHED 35 ISSUE BRIEFS, 59 BACKGROUNDERS, 25 LEGAL MEMORANDA, 16 FACTSHEETS AND 12 SPECIAL REPORTS. THE FOUNDATION ALSO REGULARLY PUBLISHES CONTENT ACROSS SOCIAL MEDIA PLATFORMS AS THE PUBLIC HAS SHIFTED ITS CONTENT AND CONSUMPTION TO THOSE CHANNELS.DURING 2023, THE FOUNDATION RELEASED ITS ANNUAL INDEX OF U.S. MILITARY STRENGTH THAT MEASURES THE U.S. MILITARY'S ABILITY TO PERFORM ITS MISSIONS IN TODAY'S WORLD AS WELL AS ITS INDEX OF ECONOMIC FREEDOM MEASURING THE IMPACT OF LIBERTY AND FREE MARKETS AROUND THE GLOBE, WHILE CONFIRMING THE FORMIDABLE POSITIVE RELATIONSHIP BETWEEN ECONOMIC FREEDOM AND PROGRESS.ALSO RELEASED IN 2023 WAS THE FOUNDATION'S ELECTION INTEGRITY SCORECARD THAT IS INTENDED TO HELP ENSURE THAT THE DEFECTS IN OUR ELECTION PROCESS ARE FIXED SO THAT ALL AMERICANS CAN HAVE CONFIDENCE IN THE FAIRNESS OF ELECTIONS BY COMPARING THE ELECTION LAWS AND REGULATIONS OF EACH STATE THAT AFFECT THE SECURITY AND INTEGRITY OF THE PROCESS TO THE FOUNDATION'S BEST PRACTICES. THE FOUNDATION'S EDUCATION FREEDOM REPORT CARD MEASURES FOUR CATEGORIES (EDUCATION CHOICE, TEACHER FREEDOM, TRANSPARENCY, AND RETURN ON INVESTMENT) THAT ENCOMPASS MORE THAN TWO DOZEN DISCRETE FACTORS TO INFORM PARENTS AND POLICYMAKERS OF WHAT THEIR STATES DO WELL AND WHERE THEY NEED IMPROVEMENT.THE FOUNDATION'S PROJECT 2025 PRESIDENTIAL TRANSITION PROJECT PUBLISHED THE NINTH EDITION OF "THE MANDATE FOR LEADERSHIP: THE CONSERVATIVE PROMISE" IN 2023, A COMPREHENSIVE POLICY GUIDE FOR THE NEXT CONSERVATIVE U.S. PRESIDENT.THE MANDATE FOR LEADERSHIP SERIES DATES BACK TO THE EARLY 1980'S. THESE PUBLICATIONS ALL ANALYZE CURRENT PUBLIC POLICIES AND ALTERNATIVE POLICY RECOMMENDATIONS FOR SUBSTANCE AND MERIT. THE RESULTS OF OUR RESEARCH ARE AVAILABLE IN PRINT FORMAT AND AT NO CHARGE THROUGH OUR WEBSITE AND SOCIAL MEDIA CHANNELS, WHICH IS VIEWED BY MILLIONS.ADDITIONAL INFORMATION IS AVAILABLE IN OUR 2023 ANNUAL REPORT, AVAILABLE ONLINE AT HTTPS://WWW.HERITAGE.ORG/ARTICLE/THE-HERITAGE-FOUNDATIONS-FINANCIAL-INFORMATION

Program 2
Expenses: $35,372,553 Revenue: $83,247

EDUCATIONAL PROGRAMS AND COMMUNICATIONS:THE FOUNDATION HOSTS EVENTS AND SPONSORS PROGRAMS TO EDUCATE POLICYMAKERS, GOVERNMENT OFFICIALS, THE ACADEMIC COMMUNITY, JOURNALISTS, AND THE GENERAL PUBLIC ON...

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EDUCATIONAL PROGRAMS AND COMMUNICATIONS:THE FOUNDATION HOSTS EVENTS AND SPONSORS PROGRAMS TO EDUCATE POLICYMAKERS, GOVERNMENT OFFICIALS, THE ACADEMIC COMMUNITY, JOURNALISTS, AND THE GENERAL PUBLIC ON TOPICS RANGING FROM THE CONSTITUTION AND CIVIL SOCIETY TO POLITICAL PHILOSOPHY AND LEGAL JURISPRUDENCE.IN 2023, THE FOUNDATION CELEBRATED ITS 50TH ANNIVERSARY BY HOLDING A CELEBRATION THAT CONVENED OVER 2,000 CONSERVATIVE MOVEMENT LEADERS, DONORS, POLICYMAKERS, JOURNALISTS, STAFF, AND STAFF ALUMNI FOR THREE DAYS OF POLICY-BASED PROGRAMMING, NETWORKING, AND ENTERTAINMENT TO MARK 50 YEARS OF LEADERSHIP IN THE CONSERVATIVE MOVEMENT.IN ADDITION, THE FOUNDATION'S EVENTS & DIGITAL TEAMS PRODUCED OVER 100 LIVE AND VIRTUAL PUBLIC EVENTS, ATTRACTING MORE THAN 47,000 VIRTUAL AND IN-PERSON ATTENDEES. POST-EVENT IMPRESSIONS, INCLUDING PODCAST LISTENS AND YOUTUBE VIEWS, TOTALED OVER 19 MILLION. SPEAKERS INCLUDED CURRENT AND FORMER GOVERNMENT OFFICIALS. OVER 235 INDIVIDUALS, IN AND OUTSIDE THE ORGANIZATION, SPOKE AT OUR PUBLIC EVENTS. ALL EVENTS WERE STREAMED VIRTUALLY AND HAD AN IN-PERSON AUDIENCE.THE FOUNDATION'S INTERN PROGRAM HOSTED A TOTAL OF 158 INTERNS IN A FULLY IMMERSIVE EDUCATIONAL AND WORK-STUDY EXPERIENCE. 287 YOUNG PROFESSIONALS PARTICIPATED IN THE FOUNDATION'S ONLINE EDUCATIONAL SERIES, THE HERITAGE ACADEMY. THE FOUNDATION'S GOVERNMENT RELATIONS HOSTED 139 POLICY BRIEFING EVENTS IN 2023 WITH PARTICIPATION FROM MULTIPLE CONGRESSIONAL OFFICES. PARTICIPANTS INCLUDED MEMBERS OF CONGRESS, LEGISLATIVE STAFFERS, COMMUNICATIONS DIRECTORS, AND CHIEFS OF STAFF.

Program 3
Expenses: $13,535,627

MEDIA. GOVERNMENT RELATIONS, AND OUTREACH:THE FOUNDATION DISTRIBUTES ITS RESEARCH PRODUCTS TO MEMBERS OF CONGRESS, CONGRESSIONAL STAFF, POLICYMAKERS IN THE EXECUTIVE BRANCH OF THE FEDERAL GOVERNMENT...

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MEDIA. GOVERNMENT RELATIONS, AND OUTREACH:THE FOUNDATION DISTRIBUTES ITS RESEARCH PRODUCTS TO MEMBERS OF CONGRESS, CONGRESSIONAL STAFF, POLICYMAKERS IN THE EXECUTIVE BRANCH OF THE FEDERAL GOVERNMENT, STATE OFFICIALS, JOURNALISTS, MEMBERS OF THE ACADEMIC COMMUNITY, OTHER NON-PROFIT ORGANIZATIONS, THE GENERAL PUBLIC, AND DONORS. THE FOUNDATION CONDUCTS HUNDREDS OF BRIEFINGS FOR DOMESTIC AND INTERNATIONAL OFFICIALS, POLICYMAKERS, EXPERTS, AND LAWMAKERS AND THEIR STAFF ON ISSUES RANGING FROM FEDERAL SPENDING AND UNFUNDED LIABILITIES TO HOMELAND SECURITY, TAX, AND HEALTH POLICY. THE FOUNDATION DELIVERED 25 CONGRESSIONAL TESTIMONIES AND 9 STATE LEGISLATIVE TESTIMONIES. THE FOUNDATION'S OUTREACH EFFORTS INCLUDE INVESTING IN NEARLY 60 ALLIES, SUPPORTING OVER 100 EVENTS ACROSS DOZENS OF STATES.THE OVERSIGHT PROJECT ESTABLISHED TO WORK FOR A U.S. GOVERNMENT THAT IS RESPONSIBLE, AND ACCOUNTABLE TO ITS CITIZENS FILED 2,100 FREEDOM OF INFORMATION ACT (FOIA) REQUESTS WITH THE CURRENT ADMINISTRATION IN ADDITION TO VARIOUS STATE GOVERNMENTS.

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Trantor Score

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

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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
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Governance

Voting Members
17
Independent Members
16
Employees
517
Volunteers
10

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
13
$5,347,803
Total Directors
17
$36,000
Key Employees
0
$0
Highest Compensated
5
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
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