THE BROOKINGS INSTITUTION

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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

1939

Legal Domicile

Principal Officer

CECILIA ELENA ROUSE

Phone

2027976000

Tax Period

2024-07-01 to 2025-06-30

THE BROOKINGS INSTITUTION, founded in 1939, is a major nonprofit in the Social Science sector that reported $115.7M in total revenue in fiscal year 2024. Expenses of $107.7M left a modest 7% surplus.

Mission

THE BROOKINGS INSTITUTION (BROOKINGS) IS A NONPROFIT PUBLIC POLICY ORGANIZATION THAT CONDUCTS IN-DEPTH, INDEPENDENT RESEARCH THAT LEADS TO NEW IDEAS FOR SOLVING PROBLEMS FACING SOCIETY AT THE LOCAL, NATIONAL, AND GLOBAL LEVEL. HEADQUARTERED IN WASHINGTON, DC, BROOKINGS IS ORGANIZED INTO FIVE RESEARCH PROGRAMS THAT FOCUS ON DOMESTIC AND INTERNATIONAL ECONOMICS, FOREIGN POLICY, SUSTAINABLE DEVELOPMENT, GOVERNANCE, AND METROPOLITAN POLICY. BROOKINGS ACHIEVES IMPACT BY PROVIDING POLICY ANALYSIS AND RECOMMENDATIONS ON PRESSING POLICY CHALLENGES, WHICH ARE DISSEMINATED THROUGH REPORTS, BOOKS, MEDIA APPEARANCES, OP-EDS, BLOG POSTS, MEETINGS, EVENTS, CONGRESSIONAL TESTIMONY, AND BRIEFINGS.

Program Service Accomplishments

Program 1

Expenses: $22,355,350 Revenue: $4,727

ECONOMIC STUDIES:THE ECONOMIC STUDIES PROGRAM PROVIDES ANALYSIS OF CURRENT AND EMERGING ECONOMIC ISSUES TO INFORM PUBLIC POLICY THROUGH INNOVATIVE AND PRACTICAL POLICY SOLUTIONS. OVER THE PAST YEAR, ECONOMIC STUDIES SCHOLARS CONDUCTED RIGOROUS RESEARCH AND POLICY ANALYSIS IN AREAS INCLUDING BUT NOT LIMITED TO SOUND MONETARY AND FISCAL POLICY, TAXATION, INCLUSIVE SOCIO-ECONOMIC POLICY, ECONOMIC OPPORTUNITY AND MOBILITY, HEALTH CARE AND SOCIAL INSURANCE ECONOMICS, AND THE EFFICIENT WORKING OF MARKETS. THE ECONOMIC STUDIES PROGRAM DISSEMINATED ITS FREQUENTLY CITED SCHOLARSHIP IN PUBLISHED REPORTS, RESEARCH PAPERS, JOURNALS, LONGER-FORM BOOKS AND SHORTER-FORM OP-EDS AND BLOG POSTS, AS WELL AS THROUGH EVENTS.

Program 2

Expenses: $20,258,913 Revenue: $3,200

GLOBAL ECONOMY AND DEVELOPMENT:THE GLOBAL ECONOMY & DEVELOPMENT (GLOBAL) PROGRAM OFFERS INNOVATIVE POLICY SOLUTIONS AND TOOLS TO HELP GLOBAL, NATIONAL, AND LOCAL POLICYMAKERS BUILD MORE EQUITABLE AND SUSTAINABLE ECONOMIC SYSTEMS THAT DELIVER PROSPERITY AND WELL-BEING FOR ALL. GLOBAL'S INTERDISCIPLINARY TEAM OF EXPERTS PROVIDES THOUGHT LEADERSHIP, CUTTING-EDGE RESEARCH, AND INNOVATIVE SOLUTIONS THAT INFORM POLICY AND INTERNATIONAL COOPERATION IN THEMATIC AREAS INCLUDING HARNESSING TECHNOLOGY FOR INCLUSIVE GROWTH AND DEVELOPMENT; DEVELOPMENT FINANCE; FORECASTING TRENDS; GLOBAL EDUCATION AND SKILLS DEVELOPMENT; AND MULTILATERALISM AND INTERNATIONAL COOPERATION.

Program 3

Expenses: $15,327,380 Revenue: $345,555

FOREIGN POLICY:THE FOREIGN POLICY PROGRAM CONDUCTS RESEARCH, ANALYSIS AND CONVENING IN ORDER TO INFORM PUBLIC UNDERSTANDING AND POLICY DIALOGUE CONCERNING THE MOST PRESSING GEOPOLITICAL AND SECURITY ISSUES FACING THE U.S. AND THE WORLD. IN ADDITION TO THE PROGRAM REGULARLY HOSTING EVENTS, FOREIGN POLICY SCHOLARS HAVE PUBLISHED A NUMBER OF REPORTS AND BOOKS WHILE ALSO MAKING APPEARANCES ON THE PAGES AND AIRWAVES OF MAJOR NEWS AND POLICY OUTLETS ACROSS THE POLITICAL SPECTRUM IN THE U.S. AND AROUND THE GLOBE.

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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 $78,163,017

Program Service Revenue $1,255,606

Investment Income $34,574,200

Other Revenue $1,666,878

TOTAL REVENUE $115,659,701

Expense Breakdown

Grants Paid $4,522,561

Salaries & Benefits $74,998,820

Fundraising Expenses $8,338,461

Program Expenses $89,429,783

Other Expenses $28,213,126

TOTAL EXPENSES $107,734,507

Year-over-Year Comparison

	2024	2023	Change
Revenue	$115,659,701	$109,029,264	+0.1%
Expenses	$107,734,507	$102,320,791	+0.1%
Net Income	$7,925,194	$6,708,473	+0.2%

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

603

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

$2,897,065

Total Directors

Key Employees

$5,721,811

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CECILIA ROUSE	PRESIDENT	40.00	Officer	$1,327,657	$42,574	$1,370,231
JONATHAN D SCHWARTZ	GENERAL COUNSEL	40.00	Officer	$660,245	$91,441	$751,686
MITCHELL L WEIN	SR VP OF FINANCE & COO	40.00	Officer	$550,595	$59,606	$610,201
WILLIAM GALE	SENIOR FELLOW	40.00	Highest	$520,695	$82,314	$603,009
AMY LIU	SR FELLOW & PRES. ADV. (THRU 6/25)	40.00	Key Emp	$515,116	$54,425	$569,541
CATHERINE A PIEZ	CHIEF INVESTMENT OFFICER	40.00	Key Emp	$447,871	$100,258	$548,129
BEN HARRIS	VP & DIR, ECONOMIC STUDIES	40.00	Key Emp	$413,203	$110,412	$523,615
XAVIER BRIGGS	SENIOR FELLOW	40.00	Highest	$369,582	$97,505	$467,087
SUZANNE MALONEY	VP & DIR., FOREIGN POLICY	40.00	Key Emp	$363,714	$102,553	$466,267
BRAHIMA COULIBALY	VP & DIRECTOR, GLOBAL	40.00	Key Emp	$367,346	$96,064	$463,410
DARRELL M WEST	SR FELLOW & DIR, DILLON	40.00	Highest	$364,436	$92,914	$457,350
CAMILLE BUSETTE	VP & DIR, GS (THRU 8/25)	40.00	Key Emp	$341,894	$85,067	$426,961
ANKUR R BHATT	VP & CIO	40.00	Key Emp	$343,350	$83,123	$426,473
WENDY EDELBERG	SENIOR FELLOW	40.00	Highest	$322,210	$102,414	$424,624
DAVID WESSEL	SR FELLOW & DIR, HUTCHINS	40.00	Highest	$327,768	$92,420	$420,188
ELISABETH DONAHUE	VP OF COMM. & PA	40.00	Key Emp	$315,043	$92,758	$407,801
RICHARD G FRANK	SR. FELLOW & DIR, HEALTH POLICY	40.00	Key Emp	$338,742	$42,844	$381,586
JOE ROONEY	VP & CHIEF OF STAFF	40.00	Key Emp	$266,147	$102,777	$368,924
TAMARA L O'NEIL	VP, CHIEF DEVEL. OFFICER (THRU 7/24)	40.00	Key Emp	$308,001	$54,981	$362,982
ALAN BERUBE	SENIOR FELLOW (THRU 9/24)	40.00	Key Emp	$277,556	$32,546	$310,102
APRIL MCWILLIAMS	VP & CHIEF HR OFFICER (THRU 7/24)	40.00	Key Emp	$192,367	$41,235	$233,602
ROBERT PUENTES	VP & DIR, BROOKINGS METRO	40.00	Key Emp	$185,188	$47,230	$232,418
ELIZABETH GROSS	DIR BOARD RLTNS, ASSTNT SE	40.00	Officer	$127,162	$37,785	$164,947
GLENN H HUTCHINS	CO-CHAIR OF THE BOARD	4.00	Officer Director	$0	$0	$0
SUZANNE NORA JOHNSON	CO-CHAIR OF THE BOARD	4.00	Officer Director	$0	$0	$0
LEONARD D SCHAEFFER	VICE CHAIR OF BOARD	3.00	Officer Director	$0	$0	$0
PETE HIGGINS	VICE CHAIR OF BOARD	3.00	Officer Director	$0	$0	$0
KENNETH M JACOBS	VICE CHAIR OF BOARD	3.00	Officer Director	$0	$0	$0
VICTOR L HYMES	TREASURER	3.00	Officer Director	$0	$0	$0
TRACY R WOLSTENCROFT	SECRETARY	3.00	Officer Director	$0	$0	$0
ROBERT J ABERNETHY	TRUSTEE	3.00	Director	$0	$0	$0
JEFFREY H ARONSON	TRUSTEE (AS OF 11/24)	2.00	Director	$0	$0	$0
PETER BARRIS	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT M BASS	TRUSTEE	2.00	Director	$0	$0	$0
SETH BERNSTEIN	TRUSTEE	2.00	Director	$0	$0	$0
JEFFREY L BEWKES	TRUSTEE	2.00	Director	$0	$0	$0
DAVID BOZEMAN	TRUSTEE	2.00	Director	$0	$0	$0
BETSY Z COHEN	TRUSTEE	2.00	Director	$0	$0	$0
ABBY JOSEPH COHEN	TRUSTEE	3.00	Director	$0	$0	$0
JONATHAN COLBY	TRUSTEE	2.00	Director	$0	$0	$0
CHERYL CRAZY BULL	TRUSTEE	2.00	Director	$0	$0	$0
SUSAN CROWN	TRUSTEE	2.00	Director	$0	$0	$0
JASON CUMMINS	TRUSTEE	2.00	Director	$0	$0	$0
VICTOR G DODIG	TRUSTEE (AS OF 11/24)	2.00	Director	$0	$0	$0
KATHERINE FARLEY	TRUSTEE	2.00	Director	$0	$0	$0
LAWTON FITT	TRUSTEE	2.00	Director	$0	$0	$0
ADAM FLATTO	TRUSTEE (AS OF 05/25)	2.00	Director	$0	$0	$0
BART FRIEDMAN	TRUSTEE	3.00	Director	$0	$0	$0
ELLEN V FUTTER	TRUSTEE	3.00	Director	$0	$0	$0
HELENE GAYLE	TRUSTEE	2.00	Director	$0	$0	$0
DAVID J GRAIN	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL D HANKIN	TRUSTEE (AS OF 03/25)	2.00	Director	$0	$0	$0
TOM KAPLAN	TRUSTEE	2.00	Director	$0	$0	$0
LAURA KARET	TRUSTEE	2.00	Director	$0	$0	$0
HOSEIN KHAJEH-HOSSEINY	TRUSTEE	2.00	Director	$0	$0	$0
PHILIP M KNIGHT	TRUSTEE (THRU 05/25)	2.00	Director	$0	$0	$0
CATHY MINEHAN	TRUSTEE	3.00	Director	$0	$0	$0
ADITYA MITTAL	TRUSTEE (THRU 11/24)	2.00	Director	$0	$0	$0
BETH MOONEY	TRUSTEE	2.00	Director	$0	$0	$0
OSCAR MUNOZ	TRUSTEE	2.00	Director	$0	$0	$0
LAXMAN NARASIMHAN	TRUSTEE	2.00	Director	$0	$0	$0
ASUTOSH PADHI	TRUSTEE (AS OF 11/24)	2.00	Director	$0	$0	$0
VASANT PRABHU	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN ROGERS	TRUSTEE (THRU 05/25)	3.00	Director	$0	$0	$0
GINNI ROMETTY	TRUSTEE	2.00	Director	$0	$0	$0
TIMOTHY F RYAN	TRUSTEE (THRU 05/25)	2.00	Director	$0	$0	$0
ALAN SCHWARTZ	TRUSTEE	2.00	Director	$0	$0	$0
ERIC SCHWARTZ	TRUSTEE	2.00	Director	$0	$0	$0
JAMES SMITH	TRUSTEE	2.00	Director	$0	$0	$0
KEVIN SNEADER	TRUSTEE	2.00	Director	$0	$0	$0
DOUGLAS STEENLAND	TRUSTEE	2.00	Director	$0	$0	$0
JOE R STRAUS III	TRUSTEE	2.00	Director	$0	$0	$0
LEE J STYSLINGER III	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW TISCH	TRUSTEE	2.00	Director	$0	$0	$0
E ERIC TOKAT	TRUSTEE	2.00	Director	$0	$0	$0
ANTOINE W VAN AGTMAEL	TRUSTEE	2.00	Director	$0	$0	$0

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	$115,659,701	$107,734,507	$571,797,924	$7,925,194
2024	No data	No data	No data	No data
2023	$89,444,146	$98,831,178	$537,645,383	$-9,387,032
2022	$119,341,951	$87,855,233	$528,999,178	$31,486,718
2021	$67,901,806	$85,684,378	$568,244,186	$-17,782,572
2020	$79,395,655	$94,943,466	$492,547,778	$-15,547,811
2019	$103,852,338	$94,913,486	$529,123,659	$8,938,852
2019	$103,852,338	$94,913,486	$529,123,659	$8,938,852
2018	$96,886,932	$98,957,742	$531,848,060	$-2,070,810
2018	$96,886,932	$98,957,742	$531,848,060	$-2,070,810