Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
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
5 people listed on the 990; $180K paid to officers and key staff.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| George Wellde III | $186,500 | $270,000 | $201,000 | $180,000 | — |
| Emily Hsieh | $17,250 | $162,000 | $120,000 | — | — |
| George Wellde | — | — | — | — | $136,500 |
| Kevin Lo | — | $129,000 | — | — | — |
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
Advocates for policies promoting freedom and opportunity for all Americans.
Questions for Article IV
Your first name shows with your question. Article IV answers here, for everyone.
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In 2022, we expanded our core team of cross-partisan advisors to identify, evaluate, and execute on opportunities for democracy reform. We continue to lay the groundwork and provide support to catalyze reform campaigns aligned with our policy priorities and the vision of the Board.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.8M | $5.0M |
| Total assetsLn 16 | $2.3M | $5.0M |
| LiabilitiesLn 26 | $102K | $200K |
| Net assetsLn 32 | $2.2M | $4.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $5.6M | $5.6M | ||
| Other salaries and wagesLn 7 | $37K | $37K | ||
| Payroll taxesLn 10 | $5K | $5K | ||
| Management feesLn 11a | $10K | $10K | ||
| Legal feesLn 11b | $28K | $15K | $14K | |
| Other fees for servicesLn 11g | $2.4M | $2.1M | $271K | |
| Office expensesLn 13 | $29K | $27K | $2K | |
| OccupancyLn 16 | $65K | $65K | ||
| TravelLn 17 | $64K | $57K | $8K | |
| Conferences, conventions and meetingsLn 19 | $31K | $31K | ||
| InsuranceLn 23 | $15K | $15K | ||
| Total functional expensesLn 25 | $8.3M | $7.8M | $427K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | 990 PDF | ||||
| FY2024 | $52.5M | $77.4M | −$24.9M | $3.5M | 990 PDF |
| FY2023 | $35.8M | $12.3M | $23.5M | $28.3M | 990 PDF |
| FY2022 Viewing | $10.9M | $8.3M | $2.6M | $4.8M | 990 PDF |
| FY2021 | $6.4M | $4.2M | $2.2M | $2.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $10,889,809 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, no flags
Part VIII · Statement of revenue $10,889,809 across 4 lines filed
Part IX · Statement of functional expenses $8,273,785 across 11 lines filed
Part X · Balance sheet $4,997,833 assets, 9 lines filed
Part XI · Reconciliation of net assets $4,797,865 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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