AMERICAN ECONOMIC ASSOCIATION

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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

1923

Legal Domicile

Principal Officer

PETER L ROUSSEAU

Phone

6153222595

Tax Period

2024-01-01 to 2024-12-31

AMERICAN ECONOMIC ASSOCIATION, founded in 1923, is a mid-sized nonprofit in the Social Science sector that reported $14.3M in total revenue in fiscal year 2024. Expenses of $13.1M left a modest 8% surplus.

Mission

THE AMERICAN ECONOMIC ASSOCIATION IS AN EDUCATIONAL ORGANIZATION WHOSE PURPOSE IS TO ENCOURAGE ECONOMIC RESEARCH, ESPECIALLY THE HISTORICAL AND STATISTICAL STUDY OF THE ACTUAL CONDITIONS OF INDUSTRIAL LIFE, TO ISSUE PUBLICATIONS ON ECONOMIC SUBJECTS AND TO ENCOURAGE FREEDOM OF ECONOMIC DISCUSSION.

Program Service Accomplishments

Program 1

Expenses: $2,538,015 Revenue: $1,169,301

THE AEA HOLDS CONFERENCES AND PROGRAMS THROUGHOUT THE YEAR INCLUDING THE ANNUAL MEETING - WHERE THE AEA IN CONJUNCTION WITH 66 ASSOCIATIONS IN RELATED DISCIPLINES KNOWN AS THE ALLIED SOCIAL SCIENCES ASSOCIATIONS (ASSA), HOLDS A THREE-DAY MEETING EACH JANUARY TO PRESENT PAPERS ON GENERAL ECONOMICS TOPICS. OTHER CONFERENCE/WORKSHOPS HELD INCLUDE THE AEA SUMMER PROGRAM, CONTINUING EDUCATION CONFERENCE, CEMENT WORKSHOPS, EDUCATE, THE CTREE CONFERENCE, CSQIEP MENTORING CONFERENCE AND SUMMER MENTORING PIPELINE CONFERENCE.

Program 2

Expenses: $818,839 Revenue: $5,143,582

PRODUCTION AND MAINTENANCE OF "ECONLIT" - A DATABASE OF ECONOMIC PAPERS, ARTICLES, ETC FROM TOP ECONOMIC SOURCES WHICH CAN BE USED FOR RESEARCH.

Program 3

Expenses: $6,803,280 Revenue: $4,291,783

PUBLISHING OF "AMERICAN ECONOMIC REVIEW," "JOURNAL OF ECONOMIC LITERATURE," "JOURNAL OF ECONOMIC PERSPECTIVES," "AEJ:ECONOMIC POLICY," "AEJ:APPLIED ECONOMICS," "AEJ:MACROECONOMICS,"...

PUBLISHING OF "AMERICAN ECONOMIC REVIEW," "JOURNAL OF ECONOMIC LITERATURE," "JOURNAL OF ECONOMIC PERSPECTIVES," "AEJ:ECONOMIC POLICY," "AEJ:APPLIED ECONOMICS," "AEJ:MACROECONOMICS," "AEJ:MICROECONOMICS AND "AER: INSIGHTS." APPROXIMATELY 20,000 MEMBERS AND SUBSCRIBERS SERVED.

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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 $26,200

Program Service Revenue $11,778,686

Investment Income $2,504,373

Other Revenue $0

TOTAL REVENUE $14,309,259

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,859,452

Fundraising Expenses $0

Program Expenses $11,487,304

Other Expenses $6,284,729

TOTAL EXPENSES $13,144,181

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,309,259	$13,970,615	+0.0%
Expenses	$13,144,181	$14,184,266	-0.1%
Net Income	$1,165,078	$-213,651	-6.5%

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

Volunteers

200

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

$1,145,661

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANET CURRIE	PRESIDENT	2.00	Officer Director	$0	$0	$0
LAWRENCE KATZ	PRESIDENT-ELECT	3.00	Officer Director	$0	$0	$0
NICHOLAS BLOOM	VICE PRESIDENT (1/4-12/31)	1.00	Officer Director	$0	$0	$0
EBONYA WASHINGTON	VICE PRESIDENT (1/4-12/31)	1.00	Officer Director	$0	$0	$0
HILARY HOYNES	VICE PRESIDENT (1/1-1/4)	0.50	Officer Director	$0	$0	$0
LINDA TESAR	VICE PRESIDENT (1/1-1/4)	0.50	Officer Director	$0	$0	$0
AMANDA BAYER	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
AMANDA KOWALSKI	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
KEVIN LANG	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
LISA LYNCH	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
LARA SHORE-SHEPPARD	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
MELVIN STEPHENS JR	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
SUSAN ATHEY	EX-OFFICIO	1.00	Director	$0	$0	$0
DAVID CARD	EX-OFFICIO (1/1-1/4)	0.50	Director	$0	$0	$0
CHRISTINA ROMER	EX-OFFICIO	1.00	Director	$0	$0	$0
SANDRA BLACK	BOARD (1/1-1/4)	0.50	Director	$0	$0	$0
EMI NAKAMURA	BOARD (1/1-1/4)	0.50	Director	$0	$0	$0
LAUREN GAFFNEY	LEGAL COUNSEL	1.00	Officer	$0	$0	$0
PETER L ROUSSEAU	SECRETARY - TREASURER	20.00	Officer	$363,250	$51,944	$415,194
ERZO LUTTMER	EDITOR, AER	10.00	Officer	$90,938	$0	$90,938
MATTHEW GENTZKOW	EDITOR, AER:I	10.00	Officer	$87,108	$0	$87,108
DAVID ROMER	EDITOR, JEL	10.00	Officer	$101,122	$0	$101,122
HEIDI WILLIAMS	EDITOR, JEP	10.00	Officer	$101,122	$0	$101,122
BENJAMIN OLKEN	EDITOR, AEJ: APPLIED ECONOMICS	8.00	Officer	$87,039	$0	$87,039
LUCAS DAVIS	EDITOR, AEJ: ECONOMIC POLICY	8.00	Officer	$87,039	$0	$87,039
AYSEGUL SAHIN	EDITOR, AEJ: MACROECONOMICS	8.00	Officer	$91,083	$0	$91,083
NAVIN KARTIK	EDITOR, AEJ: MICROECONOMICS	8.00	Officer	$85,016	$0	$85,016
ELIZABETH BRAUNSTEIN	DIRECTOR OF PUBLICATION SERVICES	40.00	Highest	$191,679	$33,200	$224,879
TIMOTHY TAYLOR	JEP MANAGING EDITOR	40.00	Highest	$234,456	$57,627	$292,083
BARBARA FISER	DIRECTOR OF ADMINISTRATION	40.00	Highest	$194,269	$52,841	$247,110
JENNIFER FARABAUGH	WEBSITE MANAGER	40.00	Highest	$112,273	$20,576	$132,849
ALLISON BRIDGES	DIRECTOR OF FINANCE	40.00	Highest	$104,311	$28,373	$132,684

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	$14,309,259	$13,144,181	$57,947,387	$1,165,078
2023	$13,970,615	$14,184,266	$54,421,119	$-213,651
2022	$13,513,020	$11,974,361	$48,741,206	$1,538,659
2021	$13,278,131	$11,805,874	$56,285,303	$1,472,257
2020	$12,795,348	$13,278,793	$50,680,907	$-483,445
2019	$12,267,610	$12,775,976	$47,723,340	$-508,366
2018	$12,097,028	$12,552,383	$40,655,222	$-455,355