ECONOMIC POLICY INSTITUTE

EIN: 521368964 501(c)(3) Social Science

WASHINGTON, DC

Total Revenue
$11,927,401
Total Expenses
$13,581,055
Total Assets
$19,581,014
Net Assets
$16,346,566
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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
DC
Principal Officer
HEIDI SHIERHOLZ
Phone
2027758810
Tax Period
2024-01-01 to 2024-12-31

ECONOMIC POLICY INSTITUTE, founded in 1984, is a mid-sized nonprofit in the Social Science sector that reported $11.9M in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $13.6M exceeded revenue, resulting in a 14% operating deficit.

Mission

EPI USES THE TOOLS OF ECONOMICS TO BRING THE INTERESTS OF LOW- AND MIDDLE-INCOME WORKERS INTO ECONOMIC POLICY DISCUSSIONS. EPI'S RIGOROUS RESEARCH AND TRANSFORMATIVE IDEAS FORTIFY WORKER ORGANIZING, BUILD A SHARED UNDERSTANDING OF HOW POWER AND POLICY SHAPE ECONOMIC OUTCOMES, AND HELP DRIVE PROGRESSIVE POLICY CHANGE AT EVERY LEVEL OF GOVERNMENT. WE PARTNER WITH NATIONAL AND STATE GRASSROOTS ORGANIZATIONS, ACADEMICS, AND LABOR UNIONS TO ADVANCE OUR MISSION.

Program Service Accomplishments

Program 1
Expenses: $5,821,379

ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN): THE ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN) IS A NETWORK OF RESEARCH AND POLICY ORGANIZATIONS. EARN ADVANCES A WORKER-CENTERED ECONOMY THROUGH...

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ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN): THE ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN) IS A NETWORK OF RESEARCH AND POLICY ORGANIZATIONS. EARN ADVANCES A WORKER-CENTERED ECONOMY THROUGH STATE AND LOCAL POLICY CHANGE, RIGOROUS RESEARCH, AND COLLABORATION BETWEEN RESEARCHERS, CHAMPIONS, AND COMMUNITY GROUPS ACROSS THE COUNTRY.

Program 2
Expenses: $2,708,638

RESEARCH: EPI PRODUCES THE HIGHEST QUALITY RESEARCH AND POLICY ANALYSIS, WIELDING THE TOOLS OF ECONOMICS TO ADVANCE THE INTERESTS OF WORKING FAMILIES. PROGRAM ON RACE, ETHNICITY, AND THE ECONOMY...

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RESEARCH: EPI PRODUCES THE HIGHEST QUALITY RESEARCH AND POLICY ANALYSIS, WIELDING THE TOOLS OF ECONOMICS TO ADVANCE THE INTERESTS OF WORKING FAMILIES. PROGRAM ON RACE, ETHNICITY, AND THE ECONOMY (PREE): PREE USES RESEARCH TO EXPLORE AND EXPLAIN HOW RACE, ETHNICITY, AND CLASS INTERSECT TO AFFECT ECONOMIC OUTCOMES IN THE UNITED STATES.

Program 3
Expenses: $951,459

COMMUNICATIONS: EPI EFFECTIVELY COMMUNICATES ITS IN-DEPTH RESEARCH AND POLICY ANALYSIS IN WAYS THAT CAN BE UNDERSTOOD AND SHARED BY A VARIETY OF AUDIENCES. EPI USES WEB TOOLS, INTERACTIVE MAPS AND...

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COMMUNICATIONS: EPI EFFECTIVELY COMMUNICATES ITS IN-DEPTH RESEARCH AND POLICY ANALYSIS IN WAYS THAT CAN BE UNDERSTOOD AND SHARED BY A VARIETY OF AUDIENCES. EPI USES WEB TOOLS, INTERACTIVE MAPS AND CALCULATORS, PODCASTS, VIDEO EXPLAINERS, AND SOCIAL MEDIA TO SHARE OUR RESEARCH AND OUR POLICY ANALYSIS AND RECOMMENDATIONS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,487,944
Program Service Revenue $2,858
Investment Income $335,512
Other Revenue $101,087
TOTAL REVENUE $11,927,401

Expense Breakdown

Grants Paid $3,864,633
Salaries & Benefits $6,981,862
Fundraising Expenses $714,014
Program Expenses $11,353,875
Other Expenses $2,734,560
TOTAL EXPENSES $13,581,055

Year-over-Year Comparison

2024 2023 Change
Revenue $11,927,401 $16,155,263 -0.3%
Expenses $13,581,055 $12,114,104 +0.1%
Net Income $-1,653,654 $4,041,159 -1.4%
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
27
Independent Members
26
Employees
58
Volunteers
26

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
$275,913
Total Directors
27
$275,913
Key Employees
1
$256,199
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HEIDI SHIERHOLZ PRESIDENT 39.70
Officer Director
$239,242 $36,671 $275,913
ELIZABETH H SHULER CHAIR 0.10
Officer Director
$0 $0 $0
JULIANNE MALVEAUX VICE CHAIR 0.10
Officer Director
$0 $0 $0
TERESA GHILARDUCCI SECRETARY 0.10
Officer Director
$0 $0 $0
GARY BASS TREASURER 0.10
Officer Director
$0 $0 $0
NINA BANKS MEMBER 0.10
Director
$0 $0 $0
BRIAN BRYANT MEMBER 0.10
Director
$0 $0 $0
HECTOR CORDERO-GUZMAN MEMBER 0.10
Director
$0 $0 $0
ERNESTO CORTES JR MEMBER 0.10
Director
$0 $0 $0
CLAUDE CUMMINGS MEMBER 0.10
Director
$0 $0 $0
JENNIFER EPPS MEMBER 0.10
Director
$0 $0 $0
SHAWN FAIN MEMBER 0.10
Director
$0 $0 $0
JEFF FAUX MEMBER 0.10
Director
$0 $0 $0
JOCELYN FRYE MEMBER 0.10
Director
$0 $0 $0
JOSE P GARZA MEMBER 0.10
Director
$0 $0 $0
ELISE GOULD MEMBER 0.10
Director
$0 $0 $0
PRONITA GUPTA MEMBER 0.10
Director
$0 $0 $0
HANNAH HALBERT MEMBER 0.10
Director
$0 $0 $0
ROBERT KUTTNER MEMBER 0.10
Director
$0 $0 $0
LISA LYNCH MEMBER 0.10
Director
$0 $0 $0
DAVE MCCALL MEMBER 0.10
Director
$0 $0 $0
MANUEL PASTOR MEMBER 0.10
Director
$0 $0 $0
LORI PELLETIER MEMBER 0.10
Director
$0 $0 $0
BECKY PRINGLE MEMBER 0.10
Director
$0 $0 $0
LEE SAUNDERS MEMBER 0.10
Director
$0 $0 $0
APRIL VERRETT MEMBER 0.10
Director
$0 $0 $0
RANDI WEINGARTEN MEMBER 0.10
Director
$0 $0 $0
NAOMI WALKER VICE PRESIDENT 40.00
Key Emp
$220,755 $35,444 $256,199
LYLE J BIVENS CHIEF ECONOMIST/DIR. RESEA 40.00
Highest
$214,230 $34,146 $248,376
CELINE MCNICHOLAS DIR. POLICY, GENERAL COUNS 40.00
Highest
$204,443 $30,525 $234,968
BARBARA WESTERN CHIEF OPERATING OFFICER 40.00
Highest
$203,355 $31,914 $235,269
EVE E TAHMINCIOGLU DIR COMMUNICATIONS 40.00
Highest
$199,587 $36,964 $236,551
VALERIE R WILSON DIRECTOR OF PREE 40.00
Highest
$189,218 $30,273 $219,491
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 $11,927,401 $13,581,055 $19,581,014 $-1,653,654
2023 $16,155,263 $12,114,104 $21,912,270 $4,041,159
2022 $8,123,876 $12,164,164 $18,630,204 $-4,040,288
2021 $16,459,436 $10,418,323 $19,510,723 $6,041,113
2020 $12,377,435 $7,919,271 $13,495,270 $4,458,164
2019 $10,857,028 $8,003,823 $8,769,969 $2,853,205
2018 $8,020,337 $6,699,574 $5,717,190 $1,320,763
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