Third Way
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Researches and develops centrist policy ideas focused on middle-class affordability, healthcare cost reduction, and entrepreneurial opportunities for non-college-educated workers. For fiscal year 2024 it reported $31.7M in revenue, $24.5M in expenses, and $58.7M in net assets.Pt I
Summary of the Filing
Where the work happens
Please note that for this program, and for all of the organization's programs, all reports developed by third way are made available to the general public through its website: WWW.THIRDWAY.ORG.CLIMATE and energy:in 2024, third way's climate and energy program helped solidify the united states' position as a global leader in clean energy…
Social Policy and Politics
In 2024, third way's social policy, education and politics team focused on three core areas: 1) defining what american want from washington; 2) centering value in the higher education debate; and 3) addressing threats on social issues:defining what americans want from washington: third way's politics team answered this question by…
Economics Program
In 2024, third way's economic program focused on three core areas: 1) making the middle class more affordable and attainable for non-college educated workers; 2) strengthening the affordable care act and lowering health care costs; and 3) expanding entrepreneurial opportunity in AMERICA.MAKING the middle class affordable and attainable…
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Jonathan Cowan’s $413K as President and CEO is at the 82nd percentile of top reported officer pay among 129 $10–100M civil rights & advocacy nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Jonathan Cowan | $413,118 | $413,528 | $414,937 | $306,684 | $306,145 |
| Matthew Bennett Secretary and | $379,453 | $379,363 | $383,379 | $291,581 | $291,887 |
| James Kessler | $377,021 | $377,318 | $378,910 | $302,608 | $306,543 |
| Lanae M Erickson SR VP for | $299,942 | $299,964 | $248,240 | $249,773 | $225,236 |
| Gabriel a Horwitz Senior | $296,343 | — | — | — | — |
| Gabriel a Horwitz | — | $296,335 | $248,152 | $247,994 | $220,049 |
| Joshua Freed | — | $295,072 | $246,273 | $246,990 | $218,098 |
| Joshua Freed Senior VP | $294,687 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 88% | — | — |
| Overhead ratio | 10% | — | — |
| Fundraising cost ratio | 2% | — | — |
| Revenue growth | 17% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 1% | — | — |
| Accounting fee ratio | 0% | — | — |
| Fundraising fee ratio | 1% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
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Filings & Schedule Manifest
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