AMERICAN ENTERPRISE INSTITUTE FOR … - Form 990 Financial Data

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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

1943

Legal Domicile

Principal Officer

ROBERT DOAR

Phone

2028625800

Tax Period

2024-07-01 to 2025-06-30

AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH, founded in 1943, is a mid-sized nonprofit in the Social Science sector that reported $75.4M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Net assets of $365.3M represent 58 months of operating reserves.

Mission

THE AMERICAN ENTERPRISE INSTITUTE IS A COMMUNITY OF SCHOLARS AND SUPPORTERS COMMITTED TO EXPANDING LIBERTY, INCREASING INDIVIDUAL OPPORTUNITY, AND STRENGTHENING FREE ENTERPRISE. AEI PURSUES THESE IDEALS THROUGH INDEPENDENT THINKING AND THE HIGHEST STANDARDS OF RESEARCH AND EXPOSITION.

Program Service Accomplishments

Program 1

Expenses: $14,008,784 Revenue: $1,764,377

DOMESTIC POLICY STUDIES: AEI'S DOMESTIC POLICY STUDIES SCHOLARS EXPLORE A BROAD RANGE OF TOPICS INCLUDING K-12 AND HIGHER EDUCATION REFORM, CITIZENSHIP, ETHICS, JUDICIARY ISSUES, EXECUTIVE AND...

DOMESTIC POLICY STUDIES: AEI'S DOMESTIC POLICY STUDIES SCHOLARS EXPLORE A BROAD RANGE OF TOPICS INCLUDING K-12 AND HIGHER EDUCATION REFORM, CITIZENSHIP, ETHICS, JUDICIARY ISSUES, EXECUTIVE AND LEGISLATIVE POLITICS, POLLS AND ELECTIONS, FEDERALISM, POVERTY, CIVIL RIGHTS, CRIME, AND OTHER PUBLIC POLICY ISSUES. AEI'S SCHOLARS ARE THOUGHT LEADERS IN THEIR FIELDS AND CONVENE CONFERENCES, IN-PERSON AND ONLINE EVENTS, AND PUBLIC AND PRIVATE SEMINARS. IN ADDITION TO ITS MANY EVENTS AND SEMINARS, AEI PROMOTES ITS RESEARCH AND IDEAS THROUGH PRINT AND DIGITAL PUBLICATIONS, BLOG POSTS AND SOCIAL MEDIA, CONFERENCES, AND WORKING GROUPS.

Program 2

Expenses: $12,823,421 Revenue: $38,665

FOREIGN AND DEFENSE POLICY STUDIES: AEI'S FOREIGN AND DEFENSE POLICY STUDIES SCHOLARS SEEK TO UNDERSTAND HOW AMERICAN INTERESTS AND POLITICAL AND ECONOMIC FREEDOM CAN BE PROTECTED AND ADVANCED AROUND THE WORLD. THE PROGRAM'S RESEARCH AREAS INCLUDE U.S. NATIONAL SECURITY AND DEFENSE, TERRORISM, INTERNATIONAL SOVEREIGNTY, AND U.S. POLICY IN THE MIDDLE EAST, ASIA, RUSSIA, AND NUMEROUS OTHER AREAS. AEI'S SCHOLARS FOCUS ON CURRENT POLICY ISSUES AS WELL AS THOSE FURTHER OVER THE HORIZON. IN THE PROCESS, THEY EDUCATE POLICYMAKERS, BUSINESS LEADERS, ACADEMICS, JOURNALISTS, STUDENTS, AND ALL INTERESTED CITIZENS ON OUR NATION'S MOST CRITICAL POLICY ISSUES.

Program 3

Expenses: $11,286,374 Revenue: $134,139

SOCIAL, CULTURAL, AND CONSTITUTIONAL STUDIES: AEI'S SOCIAL CULTURAL AND CONSTITUTIONAL STUDIES SCHOLARS EXPLORE ISSUES RELATED TO THREE RESEARCH AREAS: 1.) LEGAL AND CONSTITUTIONAL TOPICS 2. POLITICS AND PUBLIC OPINION, AND 3. SOCIETY AND CULTURE. TOPICS STUDIED BY LEGAL AND CONSTITUTIONAL SCHOLARS INCLUDE CONGRESS, THE US PRESIDENCY, THE COURTS (INCLUDING THE SUPREME COURT OF THE UNITED STATES), THE ADMINISTRATIVE STATE, AND THE US CONSTITUTION. POLITICS AND PUBLIC OPINION SCHOLARS FOCUS ON POLLING, ELECTIONS, AND POLITICAL THEORY. SOCIETY AND CULTURE SCHOLARS STUDY AND COMMENT ON LIBERAL EDUCATION (SPECIFICALLY, THE HUMANITIES, HIGHER EDUCATION, AND CLASSICAL EDUCATION), CIVIL INSTITUTIONS, THE MEDIA, AMERICAN HISTORY, AND RELIGION.

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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 $61,092,201

Program Service Revenue $2,088,391

Investment Income $12,066,605

Other Revenue $125,112

TOTAL REVENUE $75,372,309

Expense Breakdown

Grants Paid $757,190

Salaries & Benefits $43,722,515

Fundraising Expenses $7,284,349

Program Expenses $57,703,523

Other Expenses $29,043,533

TOTAL EXPENSES $73,523,238

Year-over-Year Comparison

	2024	2023	Change
Revenue	$75,372,309	$67,952,475	+0.1%
Expenses	$73,523,238	$71,020,416	+0.0%
Net Income	$1,849,071	$-3,067,941	-1.6%

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

372

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

$2,179,457

Total Directors

$1,315,372

Key Employees

$2,260,852

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEHDAD EGHBALI	BD OF TRUSTEES	1.00	Director	$0	$0	$0
BILL HASLAM	BD OF TRUSTEES - AS OF 5/25	1.00	Director	$0	$0	$0
BOB MURLEY	BD OF TRUSTEES	1.00	Director	$0	$0	$0
CHRISTOPHER B GALVIN	BD OF TRUSTEES	1.00	Director	$0	$0	$0
CLIFFORD S ASNESS	BD OF TRUSTEES	1.00	Director	$0	$0	$0
DANIEL A D'ANIELLO	CHAIRMAN	2.00	Officer Director	$0	$0	$0
DEEPA JAVERI	BD OF TRUSTEES	1.00	Director	$0	$0	$0
DREW MCKNIGHT	BD OF TRUSTEES - AS OF 3/25	1.00	Director	$0	$0	$0
EDWARD B RUST JR	BD OF TRUSTEES	1.00	Director	$0	$0	$0
FRANK J HANNA	BD OF TRUSTEES	1.00	Director	$0	$0	$0
GEOFFREY S REHNERT	BD OF TRUSTEES	1.00	Director	$0	$0	$0
HARLAN CROW	BD OF TRUSTEES	1.00	Director	$0	$0	$0
HARVEY GOLUB	BD OF TRUSTEES	1.00	Director	$0	$0	$0
JOANNA F JONSSON	BD OF TRUSTEES	1.00	Director	$0	$0	$0
JOHN A LUKE JR	BD OF TRUSTEES	1.00	Director	$0	$0	$0
JOHN K HURLEY	BD OF TRUSTEES - UNTIL 02/25	1.00	Director	$0	$0	$0
KEVIN B ROLLINS	BD OF TRUSTEES - UNTIL 11/24	1.00	Director	$0	$0	$0
KIMBERLY O DENNIS	BD OF TRUSTEES	1.00	Director	$0	$0	$0
MARC S LIPSCHULTZ	BD OF TRUSTEES	1.00	Director	$0	$0	$0
MARTIN C ELTRICH III	BD OF TRUSTEES	1.00	Director	$0	$0	$0
MATTHEW K ROSE	BD OF TRUSTEES	1.00	Director	$0	$0	$0
PAT NEAL	BD OF TRUSTEES	1.00	Director	$0	$0	$0
PETER H COORS	BD OF TRUSTEES	1.00	Director	$0	$0	$0
RAVENEL B CURRY III	BD OF TRUSTEES	1.00	Director	$0	$0	$0
RICHARD DEVOS	BD OF TRUSTEES	1.00	Director	$0	$0	$0
ROBERT DOAR	PRESIDENT	40.00	Officer Director	$1,213,768	$101,604	$1,315,372
ROBERT GREENHILL	BD OF TRUSTEES - UNTIL 11/24	1.00	Director	$0	$0	$0
ROSS PEROT JR	BD OF TRUSTEES	1.00	Director	$0	$0	$0
TULLY M FRIEDMAN	BD OF TRUSTEES	1.00	Director	$0	$0	$0
WILL WEATHERFORD	BD OF TRUSTEES	1.00	Director	$0	$0	$0
WILLIAM H WALTON	BD OF TRUSTEES	1.00	Director	$0	$0	$0
WILSON H TAYLOR	BD OF TRUSTEES	1.00	Director	$0	$0	$0
JASON W BERTSCH	EXECUTIVE VICE PRESIDENT	40.00	Officer	$503,636	$41,400	$545,036
KAZUKI KO - VICE PRESIDENT	CHIEF FINANCIAL OFFICER	40.00	Officer	$284,217	$34,832	$319,049
JOHN CUSEY - SENIOR VICE	PRESIDENT, EXTERNAL RELATI	40.00	Key Emp	$288,960	$35,700	$324,660
KATHERYNE E WALKER - CHIEF HR	OFFICER & VP OF OPERATIONS	40.00	Key Emp	$260,742	$31,757	$292,499
KORI SCHAKE	DIRECTOR, FDP	40.00	Key Emp	$369,027	$41,400	$410,427
MATTHEW CONTINETTI	DIRECTOR, DOMESTIC POLICY	40.00	Key Emp	$308,863	$37,860	$346,723
MICHAEL R STRAIN	DIRECTOR, ECONOMIC POLICY	40.00	Key Emp	$411,260	$41,400	$452,660
YUVAL LEVIN	DIRECTOR, SCCS	40.00	Key Emp	$392,483	$41,400	$433,883
ADAM WHITE	SENIOR FELLOW	40.00	Highest	$282,660	$34,380	$317,040
DANIELLE PLETKA	DISTINGUISHED SENIOR FELLO	40.00	Highest	$273,293	$32,795	$306,088
FREDERICK HESS - SENIOR	FELLOW & DIRECTOR, EDUCATI	40.00	Highest	$261,156	$31,747	$292,903
JAMES PETHOKOUKIS	SENIOR FELLOW	40.00	Highest	$258,887	$32,220	$291,107
NICHOLAS EBERSTADT	SENIOR FELLOW	40.00	Highest	$312,336	$37,971	$350,307

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	$75,372,309	$73,523,238	$386,580,770	$1,849,071
2024	$67,952,475	$71,020,416	$353,111,569	$-3,067,941
2023	$53,808,205	$66,819,074	$348,427,115	$-13,010,869
2022	$69,385,964	$60,624,542	$346,443,499	$8,761,422
2021	$80,742,317	$51,057,669	$389,314,676	$29,684,648
2020	$48,035,784	$51,698,842	$309,675,769	$-3,663,058
2019	$51,439,296	$57,228,170	$325,952,959	$-5,788,874

AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH