We believe sound fiscal and economic research is essential to uphold Colorados economic vitality, future, and individual opportunity. As a non-profit free-enterprise think tank dedicated to the protection and promotion of Colorados economy, our mission is to research and promote common sense solutions for the most pressing public policy issues facing Colorado.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $115K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.5M
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $238K in investments, Pt X · Ln 11–13
Fine: 0.5 months of spending in cash, plus $238K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$217K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.0M
+2% vs prior year
Spent
$4.0M
To programs
76%
Net assets
$681K
By yearFY2020–FY2024
Revenue
$4.0M
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$953K
FY2021$1.5M
FY2022$2.1M
FY2023$3.9M
FY2024$4.0M
Expenses
$4.0M
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$939K
FY2021$1.3M
FY2022$2.1M
FY2023$3.5M
FY2024$4.0M
Net assets
$681K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$94K
FY2021$218K
FY2022$211K
FY2023$659K
FY2024$681K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2011.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $3.1M Management & general 17% · $694K Fundraising 6% · $252K

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

12 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
President &
$388,038Pt VII · Sec A
$322,858Pt VII · Sec A
AZ Exec Dire
$217,500Pt VII · Sec A
Co VP Policy
$201,375Pt VII · Sec A
Co Exec Dire
$197,048Pt VII · Sec A
Dir Policy/R
$147,000Pt VII · Sec A
Board Chairm
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Kristin Strohm’s $388K as President & is at the 94th percentile of top reported officer pay among 145 $1–10M social science 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
Kristin Strohm$388,038$320,000$275,315$288,750$234,167
Cinamon Watson$322,858$261,055———
Katie Ratlief$217,500$215,800———
Christopher G Brown——$201,619$180,375$165,500
Christopher Brown$201,375$193,875———
Kelly Caufield$197,048$199,143———
Creigh Senich—$150,436———
Glenn Farley$147,000—$121,364——

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

Researches and promotes common-sense solutions for Colorado's economic challenges.

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Provided by the organization

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1 program · $3.1M · in their own filed words · FY2024
01

Education and research program consists of developing independent reports, including dynamic econometric fiscal analysis, on policies, initiatives, and proposed laws.

$3.1Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.0M
Ln 12
Gifts and grantsLn 1h$4.1M
Investment incomeLn 3$9K
Money outPt IX
$4.0M
Ln 25
Programscol B$3.1M
Managementcol C$694K
Fundraisingcol D$252K
Owns and owesPt X
$681K
net assets · Ln 32
Cash and savingsLn 1–2$169K
Total assetsLn 16$897K
LiabilitiesLn 26$217K
PeoplePt VI, VII
12
listed · VII A
PaidVII A6
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.1M
Fundraising eventsLn 1c$372K
Investment incomeLn 3$9K
Total revenueLn 12$4.0M
Assets in detailPt X, end of year
SavingsLn 2$169K
Cash and savings togetherLn 1–2$169K
InvestmentsLn 11–13$238K
Land, buildings, equipmentLn 10c$195K
Other assetsLn 15$128K
Total assetsLn 16$897K
LiabilitiesLn 26$217K
Net assetsLn 32$681K
OperationsPt I, VI
EmployeesI 510
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$388K$169K
InvestmentsLn 11–13$193K$238K
Land, buildings, equipmentLn 10c$7K$195K
Total assetsLn 16$837K$897K
LiabilitiesLn 26$178K$217K
Net assetsLn 32$659K$681K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$404K$290K$81K$32K
Other salaries and wagesLn 7$2.1M$1.5M$417K$167K
Pension plan contributionsLn 8$41K$29K$9K$3K
Other employee benefitsLn 9$53K$37K$11K$4K
Payroll taxesLn 10$173K$123K$37K$14K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$45K$45K
Lobbying feesLn 11d$100K$100K
Other fees for servicesLn 11g$77K$46K$7K$24K
Office expensesLn 13$68K$42K$26K
Information technologyLn 14$90K$84K$6K
OccupancyLn 16$137K$118K$12K$6K
TravelLn 17$52K$46K$5K
Conferences, conventions and meetingsLn 19$14K$12K$2K
Depreciation, depletion and amortizationLn 22$16K$12K$3K$1K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$613K$612K$1K
All other expensesLn 24e$19K$2K$17K
Total functional expensesLn 25$4.0M$3.1M$694K$252K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 5, 2025 $4.0M$4.0M$13K$681K 990 PDF
FY2023Filed with the IRS Oct 20, 2024 $3.9M$3.5M$435K$659K 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $2.1M$2.1M−$11K$211K 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $1.5M$1.3M$124K$218K 990 PDF
FY2020Filed with the IRS Nov 4, 2021 $953K$939K$13K$94K 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 J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $4,013,468 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,991,666$4,069,552
I-9 Program service revenue$0
I-10 Investment incomePrior year $6,794$8,986
I-11 Other revenuePrior year −$62,329−$65,070
I-12 Total revenuePrior year $3,936,131$4,013,468
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,188,681$2,753,330
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,312,464$1,246,939
I-18 Total expensesPrior year $3,501,145$4,000,269
I-19 Revenue less expensesPrior year $434,986$13,199
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,013,468 across 7 lines filed
VIII-1c Fundraising events$372,150
VIII-1f All other contributions, gifts and grants$3,697,402
VIII-1h Total contributions, gifts and grants$4,069,552
VIII-3 Investment incomeExcluded from tax $8,986$8,986
VIII-8 Net income from fundraising eventsExcluded from tax −$65,755−$65,755
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $685$685
VIII-12 Total revenueRelated to mission $685 · Excluded from tax −$56,769$4,013,468
Part IX · Statement of functional expenses $4,000,269 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $290,394 · Management $80,900 · Fundraising $32,266$403,560
IX-7 Other salaries and wagesPrograms $1,499,534 · Management $416,536 · Fundraising $166,615$2,082,685
IX-8 Pension plan contributionsPrograms $29,327 · Management $8,772 · Fundraising $3,259$41,358
IX-9 Other employee benefitsPrograms $37,431 · Management $11,196 · Fundraising $4,160$52,787
IX-10 Payroll taxesPrograms $122,617 · Management $36,700 · Fundraising $13,623$172,940
IX-11b Legal feesManagement $4,965$4,965
IX-11c Accounting feesManagement $45,122$45,122
IX-11d Lobbying feesPrograms $99,917$99,917
IX-11g Other fees for servicesPrograms $46,270 · Management $6,509 · Fundraising $24,494$77,273
IX-13 Office expensesPrograms $42,372 · Management $26,076$68,448
IX-14 Information technologyPrograms $83,634 · Management $6,237$89,871
IX-16 OccupancyPrograms $118,266 · Management $12,372 · Fundraising $6,186$136,824
IX-17 TravelPrograms $46,478 · Management $5,164$51,642
IX-19 Conferences, conventions and meetingsPrograms $12,040 · Management $1,791$13,831
IX-22 Depreciation, depletion and amortizationPrograms $11,699 · Management $3,249 · Fundraising $1,300$16,248
IX-23 InsuranceManagement $10,349$10,349
IX-24 Other expenses (24a–d)Programs $612,003 · Management $1,047$613,050
IX-24e All other expensesPrograms $2,319 · Management $17,080$19,399
IX-25 Total functional expensesPrograms $3,054,301 · Management $694,065 · Fundraising $251,903$4,000,269
Part X · Balance sheet $897,351 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $388,121$169,154
X-3 Pledges and grants receivableStart of year $213,500$142,500
X-9 Prepaid expenses and deferred chargesStart of year $35,328$24,534
X-10c Land, buildings and equipment, netStart of year $7,199$194,914
X-11 Publicly traded securitiesStart of year $193,339$237,948
X-15 Other assets$128,301
X-16 Total assetsStart of year $837,487$897,351
X-17 Accounts payable and accrued expensesStart of year $178,034$78,321
X-25 Other liabilities$138,384
X-26 Total liabilitiesStart of year $178,034$216,705
X-27 Net assets without donor restrictionsStart of year $659,453$557,696
X-28 Net assets with donor restrictions$122,950
X-32 Total net assets or fund balancesStart of year $659,453$680,646
X-33 Total liabilities and net assetsStart of year $837,487$897,351
Part XI · Reconciliation of net assets $680,646 net assets at year end
XI-1 Total revenue$4,013,468
XI-2 Total expenses$4,000,269
XI-3 Revenue less expenses$13,199
XI-4 Net assets at start of year$659,453
XI-5 Net unrealized gains (losses) on investments$7,994
XI-10 Net assets at end of year$680,646

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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