THE THIRD WAY FOUNDATION INC

EIN: 521629221 501(c)(3)

WASHINGTON, DC

Total Revenue
$9,169,792
Total Expenses
$7,637,914
Total Assets
$18,305,774
Net Assets
$15,695,370
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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
1989
Legal Domicile
DC
Principal Officer
LINDSAY LEWIS
Phone
2025253926
Tax Period
2023-01-01 to 2023-12-31

THE THIRD WAY FOUNDATION INC, founded in 1989, is a community nonprofit that reported $9.2M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 17% operating margin.

Mission

TO ADVANCE THE CAUSE OF PROGRESSIVE GOVERNMENT IN AMERICA BY PROMOTING CIVIC RESPONSIBILITY AND PUBLIC ENTREPRENEURSHIP.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,915,528
Program Service Revenue $0
Investment Income $249,706
Other Revenue $4,558
TOTAL REVENUE $9,169,792

Expense Breakdown

Grants Paid $80,303
Salaries & Benefits $4,513,452
Fundraising Expenses $0
Program Expenses $7,369,302
Other Expenses $3,044,159
TOTAL EXPENSES $7,637,914

Year-over-Year Comparison

2023 2022 Change
Revenue $9,169,792 $7,340,480 +0.2%
Expenses $7,637,914 $6,197,734 +0.2%
Net Income $1,531,878 $1,142,746 +0.3%
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

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Governance

Voting Members
8
Independent Members
6
Employees
45
Volunteers
N/A

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
4
$910,643
Total Directors
7
$353,931
Key Employees
1
$240,000
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL WEINSTEIN JR DIRECTOR 2.00
Director
$0 $0 $0
BILL BUDINGER DIRECTOR 2.00
Director
$0 $0 $0
CHRIS KELLY DIRECTOR 2.00
Director
$0 $0 $0
WILLIAM GALSTON DIRECTOR 2.00
Director
$0 $0 $0
BENJAMIN A RITZ DIRECTOR 40.00
Director
$152,500 $0 $152,500
STUART MALEC DIRECTOR 40.00
Director
$123,931 $0 $123,931
DIANA MOSS VICE PRESIDENT 40.00
Director
$77,500 $0 $77,500
WILLIAM MARSHALL PRESIDENT 40.00
Officer
$255,000 $0 $255,000
LINDSAY MARK LEWIS EXECUTIVE DIRECTOR 40.00
Officer
$294,567 $0 $294,567
SARAH PADEN VICE PRESIDENT 40.00
Officer
$142,076 $0 $142,076
EDWARD GRESSER VICE PRESIDENT 40.00
Officer
$219,000 $0 $219,000
MICHAEL MANDEL CHIEF ECONOMIST 40.00
Key Emp
$240,000 $0 $240,000
TRESSA A PANKOVITS CO-DIRECTOR 40.00
Highest
$135,507 $0 $135,507
CURTIS VALENTINE CO-DIRECTOR 40.00
Highest
$135,507 $0 $135,507
STEVEN NEELY BROWN DIRECTOR 40.00
Highest
$125,500 $0 $125,500
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $9,169,792 $7,637,914 $18,305,774 $1,531,878
2022 $7,340,480 $6,197,734 $13,009,369 $1,142,746
2021 $7,131,320 $5,426,330 $12,806,681 $1,704,990
2020 $13,724,985 $3,761,093 $11,136,110 $9,963,892
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