American Principles Project EIN 26-4613397 Form 990 (PDF) Claim this org

American Principles Project

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Advocates for policy solutions upholding America's founding principles. For fiscal year 2024 it reported $3.9M in revenue, $4.4M in expenses, and $2.0M in net assets.Pt I

Type
Membership association · Civil Rights & Advocacy
Location
Arlington, VA
Website
www.americanprinciplesproject.org
Filings
5 on file (2020–2024)
Revenue
$3.9MFY2024
Expenses
$4.4M
Net assets
$2.0M
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-4613397 Membership association Arlington, VA
Form 990 (PDF)
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Figures match the IRS filing checked 8/26/26 · see original: IRS
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Size
$1–10M
What they do
Advocates for policy solutions upholding America's founding principles.
Leadership
Terrence Schilling · President · $247K
Money in and out
$3.9M revenue, $4.4M expenses
Bottom line
-13% operating surplus
Membership & operating revenue · FY2024
Total revenue
$3.9M
Pt VIII · Ln 12
Total expenses
$4.4M
Pt IX · Ln 25
Net assets
$2.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$520K
Where spending went · Part IX cols B–D
Program services $0.55 Management & general $0.23 Fundraising $0.22
Operating surplus
-13%
revenue over expenses▼ -158% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
27%
of spending is salaries & benefits▲ +20% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$3.9M
FY2024▼ -27%
Expenses
$4.4M
FY2024▲ +8%
Total assets
$2.5M
FY2024▼ -17%
Total liabilities
$518K
FY2024▲ +4%
Total revenue
$3.9M
Pt VIII · Ln 12
Total expenses
$4.4M
Pt IX · Ln 25
Net assets
$2.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$520K
Total assetsPt X · Ln 16$2.5M
Program-expense ratioPt IX · col B55%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAmerican Principles Project
EINHdr · item D26-4613397
Principal addressHdr · item CArlington, VA
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFCivil Rights & Advocacy (R010)
Ruling yearIRS BMFNov 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$246,714Pt VII · Sec A
Treasurer and President Emeritus
$181,667Pt VII · Sec A
Director of Policy and Government Affairs
$177,420Pt VII · Sec A
Executive Director
$152,917Pt VII · Sec A
Director of Communications
$148,527Pt VII · Sec A
Director of Development
$112,041Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A

Terrence Schilling’s $247K as President is at the 88th percentile of top reported officer pay among 797 $1–10M 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

NameFY2024FY2023FY2022FY2021FY2020
Terrence Schilling$246,714$232,547$190,881$179,422$166,039
Raheem Kassam$198,154$183,378
Francis Cannon$181,667$191,092$167,627$167,627$167,853
Jon Schweppe$177,420$160,754$149,504$124,712
Anthony Labruna$152,917
Paul Dupont$148,527$121,007
Adam Korzeniewski$127,011
Christopher Madden$112,041

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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Mission & Programs · Part III

Where the work happens

2 program services account for $2.4M of program spending, described in the organization's own filed words · FY2024.
01

American Principles Project, through its pro-family program, advocated on behalf of the American family and engaged on issues of chief importance to families, by: pressing for and supporting laws that defend women's sports and protect children from harmful sex-change procedures, pushing for legislation to rein in Big Tech censorship…

$2.3Mprogram expense
02

American Principles Project advocated for greater integrity in US elections through its support of the Election Transparency Initiative.

$56Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$3.8M · 98%
Other revenue$61K · 2%
Contributions & grants98%$3.8M
Other revenue2%$61K
Total revenueLn 12$3.9M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.55 Management & general $0.23 Fundraising $0.22
Program services55%$2.4M
Management & general23%$1.0M
Fundraising22%$981K
Total functional expensesLn 25$4.4M

Balance Sheet

Part X · end of year
CashLn 1$493K
Total assetsLn 16$2.5M
Total liabilitiesLn 26$518K
Total net assetsLn 32$2.0M
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $493K · Operating expenses (Pt IX) $4.4M · Less non-cash grants $157K · Cash operating expenses/yr $4.2M
1.4 months
Where the money goes
Program services
Program services $2.4M · Total expenses $4.4M
55%
Management & General
Management & general $1.0M · Total expenses $4.4M
23%
Fundraising
Fundraising $981K · Total expenses $4.4M
22%
Cost to raise $1
Fundraising expense (3-yr avg) $572K · Solicited contributions (3-yr avg) $4.7M
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.8M · Total revenue $3.9M
98%
Government reliance
Government grants — · Total revenue $3.9M
Earned-income share
Program service revenue $0 · Total revenue $3.9M
0%
Investment reliance
Investment income $0 · Total revenue $3.9M
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $4.4M
0%
Growth & trend
Revenue growth (YoY)
This year $3.9M · Prior year $5.3M
-27%
Revenue CAGR
FY2020 $6.1M · FY2024 $3.9M
-11%
Net-asset trend (YoY)
End of year $2.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.9M · Expenses $4.4M
-13%
Liabilities-to-Assets
Total liabilities — · Total assets $2.5M
Net-asset ratio
Net assets $2.0M · Total assets $2.5M
79%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Terrence Schilling · Reported title President · Highest reported compensation $247K · Total expenses $4.4M
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.2M · Total expenses $4.4M
27%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 55%
Overhead ratio 23%
Fundraising cost ratio 26%
Revenue growth -27%
Legal fee ratio 1%
Accounting 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.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$333K
Grants paid · 14 grants · $5.1M · 2020–2024
Buckeye ValuesFY2024$100,000
Arizona Free Enterprise ClubAZ · FY2024$50,000
Republican Governors AssociationFY2024$50,000
Council for National PolicyDC · FY2024$6,900
Restoration Action INCFL · FY2023$322,500
Voter Reference Foundation LLCFY2022$350,000
Restoration Action INCFL · FY2022$350,000
American Principles Project PacFY2021$250,000
Restoration Action INCFL · FY2021$220,000
Free Ohio PacFY2021$9,000
American AdvancementMD · FY2020$1,983,000
Common Sense Voters of America LLCFY2020$1,400,000
Starboard MovementsFY2020$15,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$3.9M revenue · viewing · ⤓ 990 PDF
FY2023$5.3M revenue · ⤓ 990 PDF
FY2022$5.1M revenue · ⤓ 990 PDF
FY2021$2.7M revenue · ⤓ 990 PDF
FY2020$6.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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