INDEPENDENT INSTITUTE

EIN: 943008370 501(c)(3)

OAKLAND, CA

Total Revenue
$9,041,220
Total Expenses
$5,328,241
Total Assets
$12,658,115
Net Assets
$11,819,665
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
CA
Principal Officer
MARY LG THEROUX
Phone
5106321366
Tax Period
2023-07-01 to 2024-06-30

INDEPENDENT INSTITUTE, founded in 1986, is a community nonprofit that reported $9.0M in total revenue in fiscal year 2023. Revenue surged 122% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.7M, a strong 41% operating margin.

Mission

ESTABLISHED IN THE ENTREPRENEURIAL SPIRIT OF ITS HOME IN SILICON VALLEY, THE NON-PROFIT, NON-PARTISAN INDEPENDENT INSTITUTE EMPLOYS INNOVATIVE THINKING TO BOLDLY ADVANCE PEACEFUL, PROSPEROUS, AND FREE SOCIETIES GROUNDED IN A COMMITMENT TO HUMAN WORTH AND DIGNITY.

Program Service Accomplishments

Program 1
Expenses: $1,863,879 Revenue: $54,779

DISSEMINATING IDEAS: INDEPENDENT DEPLOYS BEST-IN-CLASS TRANSMEDIA CAMPAIGNS TO CONNECT ITS RIGOROUS RESEARCH TO TARGETED AUDIENCES, ENCOURAGING THE APPLICATION OF THESE IDEAS INTO THE CULTURE AND...

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DISSEMINATING IDEAS: INDEPENDENT DEPLOYS BEST-IN-CLASS TRANSMEDIA CAMPAIGNS TO CONNECT ITS RIGOROUS RESEARCH TO TARGETED AUDIENCES, ENCOURAGING THE APPLICATION OF THESE IDEAS INTO THE CULTURE AND COMMUNITY IN WINNING THE BATTLE OF IDEAS. THESE ACTIVITIES INCLUDE PUBLISHING THE WORK IN VARIOUS FORMATS (BOOK, JOURNAL ARTICLE, OR OTHER PUBLICATION), AND THEN AGGRESSIVELY MARKETING THE RESULTS TO POSITION THE FINDINGS ACROSS MAJOR OPINION AUDIENCES. INDEPENDENT ORGANIZES CONFERENCES AND MEDIA PROGRAMS, AND REPACKAGES THE FINDINGS TO COMMUNICATE TO DIFFERENT KINDS AND LEVELS OF AUDIENCES. WE UTILIZE ONLINE PLATFORMS AND SOCIAL MEDIA IN TARGETING AUDIENCES ON THOSE MATTERS THAT WILL DIRECTLY AFFECT THEM. THESE ACTIVITIES ATTRACT OVER 1 MILLION WEBSITE VISITORS, HALF A MILLION SOCIAL MEDIA FOLLOWERS, AND 5.5 BILLION MEDIA IMPRESSIONS PER YEAR.

Program 2
Expenses: $1,075,124 Revenue: $755

SPARKING ENTREPRENEURSHIP & INNOVATION: INDEPENDENT REVERSES GOVERNMENT GROWTH BY SPOTLIGHTING WRONGDOING AND OFFERING PRACTICAL, TECH-FORWARD SOLUTIONS GROUNDED IN NATURAL LAW. WE GENERATE SOLUTIONS...

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SPARKING ENTREPRENEURSHIP & INNOVATION: INDEPENDENT REVERSES GOVERNMENT GROWTH BY SPOTLIGHTING WRONGDOING AND OFFERING PRACTICAL, TECH-FORWARD SOLUTIONS GROUNDED IN NATURAL LAW. WE GENERATE SOLUTIONS IN BUSINESS, HOUSING, HEALTHCARE, ENTITLEMENTS, THE ENVIRONMENT, AND GLOBAL PROSPERITY. OUR CALIFORNIA GOLDEN FLEECE AWARDS, AWARD-WINNING BOOKS, STUDIES, SPANISH WEBSITE, AND MULTI-MEDIA CAMPAIGNS SHARE OUR SOLUTIONS WITH CIVIC LEADERS, THE MEDIA, AND THE PUBLIC. OUR WORK HAS BEEN INTRODUCED IN NATIONAL LEGISLATION, CONTRIBUTED TO THE ELIMINATION OF THE INDIVIDUAL HEALTHCARE MANDATE, MOTIVATED REFORM IN THE CALIFORNIA DEPARTMENT OF WATER RESOURCES AND DEPARTMENT OF FORESTRY AND FIREPREVENTION, AND HAS BEEN SIGNED INTO LAW IN CALIFORNIA.

Program 3
Expenses: $855,948 Revenue: $0

EDUCATING THE NEXT GENERATION: INDEPENDENT ENGAGES AND INSPIRES YOUNG PEOPLE AND PARENTS WITH THE PRINCIPLES OF LIBERTY, AND EMPOWERS PARENTS TO SELECT THE BEST EDUCATION FOR THEIR CHILDREN. OUR...

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EDUCATING THE NEXT GENERATION: INDEPENDENT ENGAGES AND INSPIRES YOUNG PEOPLE AND PARENTS WITH THE PRINCIPLES OF LIBERTY, AND EMPOWERS PARENTS TO SELECT THE BEST EDUCATION FOR THEIR CHILDREN. OUR SATIRICAL YOUTUBE SERIES, LOVE GOV, APPLIES FREE-MARKET THINKING TO HOUSING, EMPLOYMENT, HEALTHCARE, EDUCATION, AND PRIVACY, AND HAS ACHIEVED WELL OVER 7.4 MILLION VIEWS PRIMARILY FROM MILLENNIALS. THIS YEAR, WE LAUNCH LOVE GOV SEASON TWO WITH A COMPLEMENTARY WEBSITE AND SOCIAL MEDIA PORTFOLIO. OUR INTERNSHIPS AND YOUTH-FOCUSED EVENTS OFFER HANDS-ON LEARNING, AND OUR EFFORTS TO BUILD AWARENESS FOR SCHOOL CHOICE, AFFORDABLE PRIVATE SCHOOLMODELS, AND HIGHER EDUCATION REFORMS ARE EXPANDING EDUCATIONAL OPPORTUNITY FOR ALL.

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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 $8,421,321
Program Service Revenue $59,636
Investment Income $564,143
Other Revenue $-3,880
TOTAL REVENUE $9,041,220

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,688,972
Fundraising Expenses $567,342
Program Expenses $4,252,456
Other Expenses $2,639,269
TOTAL EXPENSES $5,328,241

Year-over-Year Comparison

2023 2022 Change
Revenue $9,041,220 $4,070,807 +1.2%
Expenses $5,328,241 $5,035,747 +0.1%
Net Income $3,712,979 $-964,940 -4.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
6
Employees
25
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
$276,649
Total Directors
8
$276,649
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GRAHAM WALKER PRESIDENT 40.00
Officer Director
$262,930 $13,719 $276,649
JOHN HAGEL III JD DIRECTOR 2.00
Director
$0 $0 $0
SALLY HARRIS DIRECTOR 2.00
Director
$0 $0 $0
SUSAN SOLINSKY DIRECTOR 2.00
Director
$0 $0 $0
DAVID TEECE PHD DIRECTOR 2.00
Director
$0 $0 $0
MARY THEROUX CHAIRMAN & CEO 40.00
Officer Director
$0 $0 $0
SARAH O'DOWD DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL CASSLING DIRECTOR 2.00
Director
$0 $0 $0
BRAD DEVOS COO 40.00
Officer
$0 $0 $0
PHILLIP MAGNESS DJT CHAIR 40.00
Officer
$0 $0 $0
WILLIAMSON EVERS SENIOR FELLOW 40.00
Highest
$190,911 $15,608 $206,519
IVAN ELAND SENIOR FELLOW 40.00
Highest
$150,503 $14,490 $164,993
LAWRENCE J MCQUILLAN SENIOR FELLOW 40.00
Highest
$131,726 $13,759 $145,485
JACOB TURNROSE DIRECTOR OF DEVELOPMENT 40.00
Highest
$100,835 $14,490 $115,325
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 $9,041,220 $5,328,241 $12,658,115 $3,712,979
2023 $4,070,807 $5,035,747 $8,201,976 $-964,940
2022 $5,449,140 $4,885,556 $9,064,012 $563,584
2021 $4,554,919 $4,501,500 $9,389,150 $53,419
2020 $4,135,047 $4,345,303 $8,594,622 $-210,256
2019 $4,179,442 $3,903,889 $8,473,988 $275,553
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