REED INSTITUTE

EIN: 930386908 501(c)(3) Education

Portland, OR

Total Revenue
$150,353,460
Total Expenses
$152,129,700
Total Assets
$1,040,957,477
Net Assets
$863,292,182
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1908
Legal Domicile
OR
Principal Officer
Robert Tust
Phone
5037777505
Tax Period
2022-07-01 to 2023-06-30

REED INSTITUTE, founded in 1908, is a major nonprofit in the Education sector that reported $150.4M in total revenue in fiscal year 2022. Revenue decreased 19% compared to the prior year. Net assets of $863.3M represent 69 months of operating reserves.

Mission

Provide education in the liberal arts and sciences

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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 (2022)

Revenue Breakdown

Contributions & Grants $24,438,552
Program Service Revenue $114,923,252
Investment Income $10,135,189
Other Revenue $856,467
TOTAL REVENUE $150,353,460

Expense Breakdown

Grants Paid $37,455,093
Salaries & Benefits $68,079,418
Fundraising Expenses $5,539,387
Program Expenses $136,134,446
Other Expenses $46,595,189
TOTAL EXPENSES $152,129,700

Year-over-Year Comparison

2022 2021 Change
Revenue $150,353,460 $184,823,009 -0.2%
Expenses $152,129,700 $146,361,428 +0.0%
Net Income $-1,776,240 $38,461,581 -1.0%
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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Governance

Voting Members
30
Independent Members
29
Employees
1757
Volunteers
836

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
7
$2,388,332
Total Directors
32
$636,626
Key Employees
1
$443,938
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Audrey Bilger President 40
Officer Director
$588,465 $48,161 $636,626
Hugh Porter Vice President for College Relations and Planning 40
Officer
$393,170 $51,090 $444,260
Erik Bernhardt Chief Investment Officer 40
Key Emp
$390,594 $53,344 $443,938
Lynn Valenter Vice President of Finance and Treasurer 40
Officer
$348,223 $48,161 $396,384
Amanda Heaton Executive Director of Public Affairs (through 6/30/22) 40
Highest
$339,238 $20,310 $359,548
Kathryn Oleson Dean of the Faculty 40
Officer
$232,559 $43,493 $276,052
Milyon Trulove Vice President and Dean of Admission and Financial Aid 40
Officer
$226,996 $45,287 $272,283
Andrew Lonergan Director of Investments 40
Highest
$208,694 $38,852 $247,546
Karnell McConnell-Black Vice President for Student Life 40
Officer
$213,470 $31,043 $244,513
Robert Tust Associate Treasurer and Controller 40
Highest
$190,542 $41,825 $232,367
Sarah Panetta Executive Director of Advancement 40
Highest
$189,563 $35,187 $224,750
Valerie Moreno Chief Information & Security Officer 40
Highest
$182,951 $32,165 $215,116
Phyllis Esposito Vice President and Dean for Institutional Diversity 40
Officer
$99,967 $18,247 $118,214
Laurence Abramson '80 Trustee 1
Director
$0 $0 $0
Dr Julia P Adams '80 Trustee 1
Director
$0 $0 $0
Konrad S Alt '81 Trustee 1
Director
$0 $0 $0
Dr Michael S Axley '89 Trustee 1
Director
$0 $0 $0
Carla J Beam '76 Trustee 1
Director
$0 $0 $0
Peter J Bragdon Trustee 1
Director
$0 $0 $0
M Jane Buchan Trustee 1
Director
$0 $0 $0
Julie J L Cheng '84 Trustee 1
Director
$0 $0 $0
Thomas O Daniel MD Trustee 1
Director
$0 $0 $0
Nicholas Galakatos '79 Trustee 1
Director
$0 $0 $0
Edward Hall '87 Trustee 1
Director
$0 $0 $0
Linda G Howard '70 Trustee 1
Director
$0 $0 $0
George M James '77 Trustee 1
Director
$0 $0 $0
Deborah D Kamali '85 Trustee 1
Director
$0 $0 $0
Christine E Lewis '07 Trustee (through 4/2023) 1
Director
$0 $0 $0
Amy M Madigan Trustee 1
Director
$0 $0 $0
Alex J Martinez '73 Trustee 1
Director
$0 $0 $0
Winthrop McCormack Trustee 1
Director
$0 $0 $0
Adrienne Nelson Trustee (through 4/2023) 1
Director
$0 $0 $0
Margaret Hill Noto '75 Trustee-Secretary 1
Director
$0 $0 $0
Eduardo Ochoa '73 Trustee 1
Director
$0 $0 $0
Ritankar Pal '93 Trustee 1
Director
$0 $0 $0
Roger M Perlmutter MD '73 Trustee-Chairman 1
Director
$0 $0 $0
Gary Rieschel '79 Trustee 1
Director
$0 $0 $0
Lisa Saldana '94 Trustee 1
Director
$0 $0 $0
John P Sheehy '82 Trustee 1
Director
$0 $0 $0
Tina Sohaili-Korbonits '07 Trustee 1
Director
$0 $0 $0
Susan Sokol Blosser MAT '67 Trustee 1
Director
$0 $0 $0
Alice Larkin Steiner '74 Trustee 1
Director
$0 $0 $0
Peter C Stockman '77 Trustee 1
Director
$0 $0 $0
Richard H Wollenberg '75 Trustee-Vice Chairman 1
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 No data No data No data No data
2024 No data No data No data No data
2023 $150,353,460 $152,129,700 $1,040,957,477 $-1,776,240
2022 $184,823,009 $146,361,428 $1,011,067,544 $38,461,581
2021 $135,489,826 $129,618,956 $1,033,562,980 $5,870,870
2020 $130,106,013 $135,687,187 $830,773,806 $-5,581,174
2019 $138,047,561 $131,652,934 $827,059,570 $6,394,627
2018 $116,460,019 $121,951,143 $820,270,782 $-5,491,124
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