Heritage Foundation
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Formulates and promotes conservative public policies through research, media outreach, and government briefings to advance free enterprise, limited government, and strong national defense. For fiscal year 2024 it reported $133.9M in revenue, $142.2M in expenses, and $333.6M in net assets.Pt I
Summary of the Filing
Where the work happens
Educational Programs and Communications
The heritage foundation (the foundation) hosts events and sponsors programs to educate policymakers, government officials, the academic community, journalists, and the general public on topics ranging from the constitution and civil society to political philosophy and legal JURISPRUDENCE.IN 2024, a strategy forum was held that convened…
Public Policy Research
The foundation produces research papers annually, including issue briefs, blog posts, fact sheets, backgrounders, guides, and books addressing a broad range of economic, domestic, foreign, national security, and legal policy issues.
Media, Government Relations, and Outreach
The foundation distributes its research products to members of congress, congressional staff, policymakers in the executive branch of the federal government, state officials, journalists, members of the academic community, other non-profit organizations, the general public, and donors.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Kevin Roberts’s $683K as President is at the 36th percentile of top reported officer pay among 59 $100M+ 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 · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Kay Coles James | — | — | $464,609 | $930,249 | $908,352 |
| Kevin Roberts | $682,571 | $670,981 | $622,489 | $34,511 | — |
| Derrick Morgan | $545,991 | $540,696 | $286,062 | — | — |
| Kim Holmes | — | — | — | $215,436 | $447,564 |
| Eric Korsvall | $444,117 | $440,009 | $336,050 | $256,003 | $247,757 |
| Andrew Olivastro | $368,437 | $273,994 | $212,985 | — | — |
| Robert Barro | $357,723 | — | — | — | — |
| Roger Severino | $351,528 | $315,355 | $196,731 | — | — |
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 | 83% | — | — |
| Overhead ratio | 3% | — | — |
| Fundraising cost ratio | 19% | — | — |
| Revenue growth | 33% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 5% | — | — |
| Accounting fee ratio | 0% | — | — |
| Fundraising fee ratio | 2% | — | — |
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.
Grants
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Filings & Schedule Manifest
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Sources
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