Status and standing
Is it real, and can you give to it?
Where the money goes
What each dollar paid for.
Statement of Functional Expenses
Financial health
Is it on solid ground?
Summary of the Filing
| FY2020 | $442K |
|---|---|
| FY2021 | $498K |
| FY2022 | $1.7M |
| FY2023 | $1.3M |
| FY2024 | $1.0M |
| FY2020 | $151K |
|---|---|
| FY2021 | $220K |
| FY2022 | $499K |
| FY2023 | $402K |
| FY2024 | $265K |
Balance Sheet
Statement of Revenue
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 63% | — | — |
| Overhead ratio | 14% | — | — |
| Fundraising cost ratio | 25% | — | — |
| Revenue growth | 13% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 0.06% | — | — |
| Accounting fee ratio | 1% | — | — |
| Fundraising fee ratio | 0% | — | — |
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.
Leadership and pay
Who runs it, and what are they paid?
Officers, Directors & Key Employees
Rick Larsen’s $247K as President & CEO is at the 90th percentile of top reported officer pay among 3395 $1–10M education 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 |
|---|---|---|---|---|---|
| Rick Larsen | — | $308,333 | $206,317 | $222,083 | $222,447 |
| Rick Larsen | $247,047 | — | — | — | — |
| Peter Reichard | $223,202 | — | — | — | — |
| Derek Monson | $197,057 | — | — | — | — |
| Derek Monson | — | $176,667 | $128,372 | $114,874 | $103,017 |
| Aaron Taylor | — | — | — | — | $172,445 |
| Nic Dunn | $157,722 | — | — | — | — |
| Nic Dunn | — | $148,333 | — | — | — |
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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Governance & Policies
- 7Voting board membersPt VI · Ln 1a
- 7Independent board membersPt VI · Ln 1b
- Conflict-of-interest policyPt VI · Ln 12aYes
- Whistleblower policyPt VI · Ln 13Yes
- Document retention policyPt VI · Ln 14Yes
- Top official’s pay independently reviewedPt VI · Ln 15aYes
- Family or business ties among leadersPt VI · Ln 2No
Mission and programs
What it does.
Promotes free markets, civil society, and community solutions for American freedom.
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Where the work happens
Outreach
The Institute strives to convene voices on all sides of important issues and facilitate sound, community-driven policy solutions. Newsletters, mailings, and events are all critical to both education and engagement. Newsletters provide summaries on important and topical issues.
Research
As a think tank, policy research on complex issues is core to the operations of the Institute. This includes active studies of current and historical academic research, proposed legislation in Utah - the region - and nationally.
Lobbying
The Institute maintains government affairs staff who are registered lobbyists. The Institute reports its lobbying activities to the IRS using the expenditures test under a Section 501(h) election.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Filing history
Every return on file.
| Year | Revenue | Expenses | Change | Filing |
|---|---|---|---|---|
| FY2024 Latest Viewing | $2.1M | $2.2M | +13% | 990 PDF |
| FY2023 | $1.8M | $2.2M | -15% | 990 PDF |
| FY2022 | $2.2M | $1.4M | +52% | 990 PDF |
| FY2021 | $1.4M | $1.4M | +141% | 990 PDF |
| FY2020 | $594K | $1.5M | 990 PDF |
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Schedules filed Part IV
Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.
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