Institute for Humane Studies: Nonprofit Profile, Financials & Form 990 (EIN 94-1623852)

Revenue by fiscal year
FY2020	$21.1M
FY2021	$17.7M
FY2022	$20.9M
FY2023	$17.2M
FY2024	$31.1M
FY2025	$21.1M

Expenses by fiscal year
FY2020	$17.0M
FY2021	$16.5M
FY2022	$17.1M
FY2023	$18.3M
FY2024	$18.2M
FY2025	$20.4M

Net assets by fiscal year
FY2020	$13.0M
FY2021	$14.3M
FY2022	$17.7M
FY2023	$16.4M
FY2024	$29.2M
FY2025	$29.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1965.

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

Where the money goes

82 cents of each dollar spent went to programs.

82%

Program services 82% · $16.8M Management & general 10% · $2.0M Fundraising 8% · $1.7M

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

17 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Emily Chamlee-Wright

President & Chief Executive Officer

$537,300Pt VII · Sec A

Courtney Derr

Executive Director

$343,650Pt VII · Sec A

Sarah Straw

Chief of Staff

$201,718Pt VII · Sec A

Caroline Phelps

Managing Director of Programs and Partnerships

$175,000Pt VII · Sec A

Michael Tolhurst

Managing Dir of Bus Intelligence & Academic Relati

$153,333Pt VII · Sec A

Adam Wolter

Senior Application Development Engineer

$146,170Pt VII · Sec A

Sharifa Ahmed

Director of Human Resources

$139,150Pt VII · Sec A

Lindsey Jennings

Director of Development

$135,151Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Emily Chamlee-Wright	$537,300	$502,992	$485,450	$464,300	$440,000	$455,000
Courtney Derr	$343,650	$310,167	$269,950	$204,139	$186,250	$167,500
Ronald Chad Thevenot	—	—	—	—	$295,000	$291,250
Todd Hathaway	—	—	—	$260,000	$250,000	$246,250
Kyle Hartz	—	—	$231,716	$168,131	$171,250	$160,000
Sarah Straw	$201,718	$196,916	$167,091	—	—	—
Christopher Grozev	—	—	$192,275	$141,886	—	—
Ronald Thevenot	—	—	—	$183,550	—	—

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.

See Institute for Humane Studies executive salaries →

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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

Supports and develops scholars and students whose academic work explores the principles of classical liberalism, economic freedom, and their contributions to human flourishing.

Provided by the organization

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3 programs · $13.8M · in their own filed words · FY2024

01

Intellectual Talent Development

Intellectual Talent Development supports work and partnerships that identify, develop, and connect emerging scholars, thinkers, and practitioners who advance ideas that expand human freedom and flourishing.

$5.5Mprogram expense

02

Liberalism, Pluralism, and Democracy

The Liberalism, Pluralism, and Democracy Initiative advances research and education that strengthen constitutional liberal democracy by promoting individual liberty, pluralism, free expression, and institutions that support peaceful coexistence and self governance.

$4.2Mprogram expense

03

Economic Freedom and Abundance

Economic Freedom and Abundance supports work and partnerships that advance understanding of how economic freedom, markets, and entrepreneurship contribute to innovation, prosperity, and broad based human flourishing.

$4.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Zucker Family FoundationFY2025$52K

The Ayco Charitable FoundationFY2025$19K

The Venner Family FoundationFY2025$3K

Woodford Foundation for Limited GovernmentFY2025$2K

Strauss Foundation INCFY2025$100

Total grants receivedfrom 5 funders$77K

See all 5 funders →

Grants paid · 195 grants · $10.7M · 2019–2024

Unitemized GrantFY2024$1,863,622

Unitemized GrantFY2024$149,226

University of RochesterNY · FY2024$93,000

George Mason UniversityFY2024$61,500

Cairn UniversityPA · FY2024$60,000

Hillsdale CollegeMI · FY2024$55,000

The Florida State University Foundation INCFL · FY2024$50,000

Grove City CollegePA · FY2024$49,500

Hampden-Sydney CollegeVA · FY2024$48,500

Washington CollegeMD · FY2024$45,550

Christopher Newport University Educational Foundation INCVA · FY2024$45,000

Regents of the University of California at BerkeleyCA · FY2024$44,655

University of Minnesota SystemFY2024$43,340

University of ArizonaFY2024$43,160

The Corporation of Mercer UniversityGA · FY2024$40,500

Arizona State UniversityFY2024$37,825

Northern Kentucky UniversityFY2024$36,560

Michigan State UniversityMI · FY2024$35,500

See all 195 grants →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$21.1M

Ln 12

Gifts and grantsLn 1h$19.7M

Investment incomeLn 3$939K

Other incomeLn 4–11$293K

Money outPt IX

$20.4M

Ln 25

Programscol B$16.8M

Managementcol C$2.0M

Fundraisingcol D$1.7M

Owns and owesPt X

$29.8M

net assets · Ln 32

Cash and savingsLn 1–2$25.0M

Total assetsLn 16$33.0M

LiabilitiesLn 26$3.2M

PeoplePt VI, VII

17

listed · VII A

PaidVII A9

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$19.7M

Noncash giftsLn 1g$8K

Fees for servicesLn 2g$222K

Investment incomeLn 3$939K

Other incomeLn 4–11$293K

Gains on assetsLn 7−$13K

Total revenueLn 12$21.1M

Assets in detailPt X, end of year

CashLn 1$1.5M

SavingsLn 2$23.5M

Cash and savings togetherLn 1–2$25.0M

InvestmentsLn 11–13$1.1M

Land, buildings, equipmentLn 10c$851K

Other assetsLn 15$2.5M

Total assetsLn 16$33.0M

LiabilitiesLn 26$3.2M

Net assetsLn 32$29.8M

OperationsPt I, VI

EmployeesI 5110

VolunteersI 60

Fiscal year endsHeaderAugust

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$27.3M	$25.0M
InvestmentsLn 11–13	$1.2M	$1.1M
Land, buildings, equipmentLn 10c	$420K	$851K
Total assetsLn 16	$35.5M	$33.0M
LiabilitiesLn 26	$6.3M	$3.2M
Net assetsLn 32	$29.2M	$29.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$1.9M	$1.9M
Grants to domestic individualsLn 2	$2.1M	$2.1M
Grants and assistance to foreign recipientsLn 3	$285K	$285K
Pay of current officers, directors and key staffLn 5	$1.3M	$439K	$647K	$211K
Other salaries and wagesLn 7	$7.1M	$5.7M	$713K	$632K
Other employee benefitsLn 9	$761K	$635K	$61K	$65K
Payroll taxesLn 10	$579K	$444K	$75K	$60K
Legal feesLn 11b	$64K	$43K	$5K	$16K
Accounting feesLn 11c	$21K		$21K
Investment management feesLn 11f	$8K		$8K
Other fees for servicesLn 11g	$540K	$412K	$36K	$91K
Advertising and promotionLn 12	$315K	$213K	$318	$101K
Office expensesLn 13	$459K	$152K	$26K	$281K
Information technologyLn 14	$994K	$803K	$145K	$47K
OccupancyLn 16	$1.2M	$1.0M	$128K	$102K
TravelLn 17	$1.3M	$1.2M	$39K	$39K
Conferences, conventions and meetingsLn 19	$1.3M	$1.3M	$12K	$10K
Depreciation, depletion and amortizationLn 22	$241K	$196K	$25K	$20K
InsuranceLn 23	$31K		$31K
Other expenses (24a–d)Ln 24	$25K	$2K	$297	$22K
Total functional expensesLn 25	$20.4M	$16.8M	$2.0M	$1.7M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$21.1M	$20.4M	$685K	$29.8M	990 PDF
FY2024	$31.1M	$18.2M	$12.9M	$29.2M	990 PDF
FY2023	$17.2M	$18.3M	−$1.1M	$16.4M	990 PDF
FY2022	$20.9M	$17.1M	$3.8M	$17.7M	990 PDF
FY2021	$17.7M	$16.5M	$1.2M	$14.3M	990 PDF
FY2020	$21.1M	$17.0M	$4.1M	$13.0M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $21,127,707 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $29,655,924$19,673,897

I-9 Program service revenuePrior year $104,538$221,638

I-10 Investment incomePrior year $1,019,525$939,413

I-11 Other revenuePrior year $277,036$292,759

I-12 Total revenuePrior year $31,057,023$21,127,707

I-13 Grants and similar amounts paidPrior year $3,538,090$4,224,873

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $8,999,678$9,712,261

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $5,667,411$6,506,015

I-18 Total expensesPrior year $18,205,179$20,443,149

I-19 Revenue less expensesPrior year $12,851,844$684,558

Part VI · Governance 8 of 8 board members independent, no flags

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

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 $21,127,707 across 10 lines filed

VIII-1f All other contributions, gifts and grants$19,673,897

VIII-1g Noncash contributions (included above)$8,420

VIII-1h Total contributions, gifts and grants$19,673,897

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $221,638$221,638

VIII-3 Investment incomeExcluded from tax $952,787$952,787

VIII-5 RoyaltiesExcluded from tax $1,142$1,142

VIII-6 Net rental income or lossExcluded from tax $271,586$271,586

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$13,374−$13,374

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $20,031$20,031

VIII-12 Total revenueRelated to mission $221,638 · Unrelated business $0 · Excluded from tax $1,232,172$21,127,707

Part IX · Statement of functional expenses $20,443,149 across 20 lines filed

IX-1 Grants to domestic organizationsPrograms $1,888,090$1,888,090

IX-2 Grants to domestic individualsPrograms $2,051,623$2,051,623

IX-3 Grants and assistance to foreign recipientsPrograms $285,160$285,160

IX-5 Pay of current officers, directors and key staffPrograms $439,126 · Management $647,456 · Fundraising $210,505$1,297,087

IX-7 Other salaries and wagesPrograms $5,730,807 · Management $712,649 · Fundraising $631,778$7,075,234

IX-9 Other employee benefitsPrograms $634,975 · Management $60,737 · Fundraising $65,379$761,091

IX-10 Payroll taxesPrograms $444,311 · Management $74,907 · Fundraising $59,631$578,849

IX-11b Legal feesPrograms $43,403 · Management $5,417 · Fundraising $15,663$64,483

IX-11c Accounting feesManagement $21,227$21,227

IX-11f Investment management feesManagement $7,556$7,556

IX-11g Other fees for servicesPrograms $412,142 · Management $36,494 · Fundraising $91,254$539,890

IX-12 Advertising and promotionPrograms $212,857 · Management $318 · Fundraising $101,438$314,613

IX-13 Office expensesPrograms $151,878 · Management $26,020 · Fundraising $281,090$458,988

IX-14 Information technologyPrograms $802,657 · Management $144,669 · Fundraising $46,778$994,104

IX-16 OccupancyPrograms $1,007,648 · Management $128,409 · Fundraising $101,629$1,237,686

IX-17 TravelPrograms $1,206,424 · Management $38,950 · Fundraising $38,616$1,283,990

IX-19 Conferences, conventions and meetingsPrograms $1,264,556 · Management $12,440 · Fundraising $9,513$1,286,509

IX-22 Depreciation, depletion and amortizationPrograms $196,179 · Management $25,000 · Fundraising $19,786$240,965

IX-23 InsuranceManagement $31,179$31,179

IX-24 Other expenses (24a–d)Programs $2,332 · Management $297 · Fundraising $22,196$24,825

IX-25 Total functional expensesPrograms $16,774,168 · Management $1,973,725 · Fundraising $1,695,256$20,443,149

Part X · Balance sheet $33,037,779 assets, 17 lines filed

X-1 Cash, non-interest-bearingStart of year $3,057,523$1,504,017

X-2 Savings and temporary cash investmentsStart of year $24,263,997$23,519,813

X-3 Pledges and grants receivableStart of year $533,009$2,176,596

X-4 Accounts receivableStart of year $132,960$178,064

X-9 Prepaid expenses and deferred chargesStart of year $1,039,433$1,160,041

X-10c Land, buildings and equipment, netStart of year $419,618$850,628

X-11 Publicly traded securitiesStart of year $1,210,019$1,104,286

X-15 Other assetsStart of year $4,802,251$2,544,334

X-16 Total assetsStart of year $35,458,810$33,037,779

X-17 Accounts payable and accrued expensesStart of year $838,337$618,930

X-19 Deferred revenueStart of year $39,813$0

X-25 Other liabilitiesStart of year $5,402,726$2,630,918

X-26 Total liabilitiesStart of year $6,280,876$3,249,848

X-27 Net assets without donor restrictionsStart of year $27,633,921$26,482,493

X-28 Net assets with donor restrictionsStart of year $1,544,013$3,305,438

X-32 Total net assets or fund balancesStart of year $29,177,934$29,787,931

X-33 Total liabilities and net assetsStart of year $35,458,810$33,037,779

Part XI · Reconciliation of net assets $29,787,931 net assets at year end

XI-1 Total revenue$21,127,707

XI-2 Total expenses$20,443,149

XI-3 Revenue less expenses$684,558

XI-4 Net assets at start of year$29,177,934

XI-5 Net unrealized gains (losses) on investments−$129,571

XI-9 Other changes in net assets$55,010

XI-10 Net assets at end of year$29,787,931

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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