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American Security Project FY2022 filing

Tax-deductible

Washington, DC501(c)(3)Since 2006Public & Societal Benefit EIN 20-4079553Revenue $765K in FY2022

On file with the IRSamericansecurityproject.org1201 Pennsylvania Ave Nw, 20004-2401 · Washington, DCTax-exempt since Nov 2006Publicly supported charity — 170(b)(1)(A)(vi)

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The organizations mission is to foster knowledge and understanding of a range of national Security and foreign policy issues. These efforts will lead to developing and widely disseminating a national Security vision and strategy for the 21st century.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$231K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $90K a year · 8% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$231K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $185K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$765K
-22% vs prior year
Spent
$893K
To programs
81%
Net assets
$409K
By yearFY2020–FY2025
Revenue
$765K
FY2022▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$982K
FY2022$765K
FY2023$693K
FY2024$1.7M
FY2025$438K
Expenses
$893K
FY2022▼ -33%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.2M
FY2021$1.3M
FY2022$893K
FY2023$819K
FY2024$750K
FY2025$1.1M
Net assets
$409K
FY2022▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$885K
FY2021$537K
FY2022$409K
FY2023$284K
FY2024$1.2M
FY2025$574K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $723K Management & general 13% · $118K Fundraising 6% · $52K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

23 people listed on the 990; $231K paid to officers and key staff.

Part VII, Section A · reportable compensation
Matthew Wallin
COO/Treasurer
$122,667Pt VII · Sec A
Patrick C Costello
Chief Executive Officer
$108,333Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Donald Beyer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Matthew Wallin’s $175K as Director/CEO/Treasurer is at the 95th percentile of top reported officer pay among 1043 $100K–1M public & societal benefit 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 · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Matthew Wallin$175,000$152,667$159,500$122,667$102,500$92,250
Andrew Holland————$51,667$151,000
Courtney Manning$126,000—————
Jessica Yllemo——$114,258———
Patrick C Costello———$108,333$46,667—

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes knowledge and understanding of national security and foreign policy issues.

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Provided by the organization

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1 program · $723K · in their own filed words · FY2022
01

See attached statement.

$723Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Climate Imperative FoundationFY2024$110K
The Partnership Project INCFY2024$45K
Deploy-US INCFY2024$30K
Total grants receivedfrom 3 funders$185K
See all 3 funders →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$765K
Ln 12
Gifts and grantsLn 1h$764K
Other incomeLn 4–11$2K
Money outPt IX
$893K
Ln 25
Programscol B$723K
Managementcol C$118K
Fundraisingcol D$52K
Owns and owesPt X
$409K
net assets · Ln 32
Cash and savingsLn 1–2$358K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
23
listed · VII A
PaidVII A2
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$764K
Government grantsLn 1e$43K
Noncash giftsLn 1g$8K
Other incomeLn 4–11$2K
Gains on assetsLn 7$0
Total revenueLn 12$765K
Assets in detailPt X, end of year
CashLn 1$358K
Cash and savings togetherLn 1–2$358K
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$1.1M
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.1M
Net assetsLn 32$409K
OperationsPt I, VI
EmployeesI 54
VolunteersI 683
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$577K$358K
Land, buildings, equipmentLn 10c$3K$2K
Total assetsLn 16$605K$1.5M
LiabilitiesLn 26$67K$1.1M
Net assetsLn 32$537K$409K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$243K$173K$39K$32K
Other salaries and wagesLn 7$170K$153K$9K$8K
Other employee benefitsLn 9$22K$19K$2K$2K
Payroll taxesLn 10$38K$25K$10K$3K
Legal feesLn 11b$9K$4K$0$6K
Accounting feesLn 11c$13K$10K$3K$0
Other fees for servicesLn 11g$214K$206K$8K$0
Advertising and promotionLn 12$876$550$66$260
Office expensesLn 13$24K$15K$8K$1K
Information technologyLn 14$51K$43K$8K$477
OccupancyLn 16$71K$44K$27K$0
TravelLn 17$17K$17K$176$0
Conferences, conventions and meetingsLn 19$13K$13K$413$20
Depreciation, depletion and amortizationLn 22$214$0$214$0
InsuranceLn 23$6K$3K$3K$0
Total functional expensesLn 25$893K$723K$118K$52K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $438K$1.1M−$622K$574K 990 PDF
FY2024 $1.7M$750K$912K$1.2M 990 PDF
FY2023 $693K$819K−$126K$284K 990 PDF
FY2022 Viewing $765K$893K−$128K$409K 990 PDF
FY2021 $982K$1.3M−$348K$537K 990 PDF
FY2020 $1.9M$2.2M−$232K$885K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $765,251 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $982,338$763,571
I-9 Program service revenue$0
I-10 Investment incomePrior year $64$0
I-11 Other revenuePrior year $0$1,680
I-12 Total revenuePrior year $982,402$765,251
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $381,980$473,374
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $948,384$419,715
I-18 Total expensesPrior year $1,330,364$893,089
I-19 Revenue less expensesPrior year −$347,962−$127,838
Part VI · Governance 21 of 21 board members independent, 1 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $765,251 across 6 lines filed
Lines not itemized here account for $1,680 of total revenue; see the IRS return.
VIII-1e Government grants$43,334
VIII-1f All other contributions, gifts and grants$720,237
VIII-1g Noncash contributions (included above)$7,508
VIII-1h Total contributions, gifts and grants$763,571
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,680$765,251
Part IX · Statement of functional expenses $893,089 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $172,709 · Management $39,128 · Fundraising $31,526$243,363
IX-7 Other salaries and wagesPrograms $153,195 · Management $8,809 · Fundraising $8,239$170,243
IX-9 Other employee benefitsPrograms $19,071 · Management $1,642 · Fundraising $1,535$22,248
IX-10 Payroll taxesPrograms $24,815 · Management $9,521 · Fundraising $3,184$37,520
IX-11b Legal feesPrograms $3,597 · Management $0 · Fundraising $5,666$9,263
IX-11c Accounting feesPrograms $9,920 · Management $3,280 · Fundraising $0$13,200
IX-11g Other fees for servicesPrograms $205,652 · Management $8,171 · Fundraising $0$213,823
IX-12 Advertising and promotionPrograms $550 · Management $66 · Fundraising $260$876
IX-13 Office expensesPrograms $14,796 · Management $7,816 · Fundraising $1,404$24,016
IX-14 Information technologyPrograms $42,802 · Management $7,930 · Fundraising $477$51,209
IX-16 OccupancyPrograms $43,996 · Management $27,149 · Fundraising $0$71,145
IX-17 TravelPrograms $16,646 · Management $176 · Fundraising $0$16,822
IX-19 Conferences, conventions and meetingsPrograms $12,724 · Management $413 · Fundraising $20$13,157
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $214 · Fundraising $0$214
IX-23 InsurancePrograms $2,735 · Management $3,255 · Fundraising $0$5,990
IX-25 Total functional expensesPrograms $723,208 · Management $117,570 · Fundraising $52,311$893,089
Part X · Balance sheet $1,460,200 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $576,541$358,053
X-9 Prepaid expenses and deferred chargesStart of year $1,973$625
X-10c Land, buildings and equipment, netStart of year $2,568$2,354
X-15 Other assetsStart of year $23,655$1,099,168
X-16 Total assetsStart of year $604,737$1,460,200
X-17 Accounts payable and accrued expensesStart of year $32,380$21,573
X-25 Other liabilitiesStart of year $35,103$1,029,211
X-26 Total liabilitiesStart of year $67,483$1,050,784
X-27 Net assets without donor restrictionsStart of year $256,377$223,592
X-28 Net assets with donor restrictionsStart of year $280,877$185,824
X-32 Total net assets or fund balancesStart of year $537,254$409,416
X-33 Total liabilities and net assetsStart of year $604,737$1,460,200
Part XI · Reconciliation of net assets $409,416 net assets at year end
XI-1 Total revenue$765,251
XI-2 Total expenses$893,089
XI-3 Revenue less expenses−$127,838
XI-4 Net assets at start of year$537,254
XI-10 Net assets at end of year$409,416

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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