Cato Institute
76% goes to programs $9 to raise $100 Strong reserves Growing revenue
Cato Institute is a 501(c)(3) organization based in Washington, District of Columbia, registered in 1975, with $71,927,807 in FY2023 revenue. CharityIndex grades it A, and it directs about 76% of spending to programs.
1000 Massachusetts Ave Nw, Washington, DC, 20001 EIN 23-7432162 Since 1975
Revenue (FY2023)
$71.9M
▲ 24.7% vs prior year
Public Benefit median: $140K
Expenses (FY2023)
$41.8M
Net assets
$170.1M
Employees
304
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating76% to programs · $9 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Cato Institute: 76% to programs · $9 to raise $100 earns a B+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating49 mo reserves · +42% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Cato Institute: 49 mo reserves · +42% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Cato Institute: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Cato Institute: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To promote the principles of individual liberty, limited government, free markets, and peace.
What they do
Educational program - cato hosts public events and conferences in order to engage diverse audiences on our research and policy prescriptions. cato also proactively invests in the next generation through its student programs. these include our cato internship program and john russell paslaqua intern seminar series, our student briefing program, and cato university, which teaches college students from around the country about america's founding principles of individual liberty, limited government, and free enterprise. our sphere program supports middle and high school educators with the knowledge and tools to overcome polarization and advance civil discourse on contentious issues in the classroom.
Communications & external affairs - cato scholars engage and educate broad audiences on our policy prescriptions by disseminating our research through speaking engagements, social media, briefings, op-eds and blogs, podcasts, television and radio appearances, and our websites, which receive over 11 million visits annually. we have invested significantly in building a cato digital program to showcase this content in a dynamic, engaging, and accessible way through all these channels. cato scholars and government affairs personnel meet with and educate government officials and their staff on a variety of public policy issues, advancing solutions based on the principles of individual liberty, limited government, free markets, and peace. cato hosts a quarterly congressional fellowship program geared to share our research and foster greater engagement on major public policy issues.
Contact & location
- Address
- 1000 Massachusetts Ave Nw, Washington, DC, 20001
- City
- Washington
- State
- District of Columbia
- Category
- Public & Societal Benefit
- Subcategory
- Government & Public Administration
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $28.4M (FY2013) to $71.9M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $2.1MNet assets $170.1M
Operating margin
41.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$172.2M
Total liabilities
$2.1M
Net assets
$170.1M
Salaries & benefits
$25.1M
60% of expenses
Board members
15
14 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $71,927,807▲24.7% | $41,834,120▲10.9% | $170,075,789▲28.1% | $172,218,520▲27.5% | 990 |
| 2022 | $57,666,559▲25.6% | $37,718,015▲20.4% | $132,741,205▲16.3% | $135,047,209▲15.6% | 990 |
| 2021 | $45,929,682▲6.8% | $31,337,947▲11.1% | $114,160,350▲12.9% | $116,844,158▲12.5% | 990 |
| 2020 | $43,021,209▲32.3% | $28,207,239▼9.4% | $101,093,115▲24.2% | $103,817,347▲21.3% | 990 |
| 2019 | $32,506,528▲7.4% | $31,141,580▲1.8% | $81,391,291 | $85,585,362▲1.4% | 990 |
| 2018 | $30,261,118▼17.5% | $30,601,421▲0.7% | $81,421,939 | $84,375,877▼0.6% | 990 |
| 2017 | $36,679,802▼0.6% | $30,381,673▲0.8% | $81,420,490▲7.5% | $84,854,531▲8.0% | 990 |
| 2016 | $36,889,645▲32.4% | $30,150,105▲3.4% | $75,714,601▲9.8% | $78,534,414▲10.3% | 990 |
| 2015 | $27,869,293▼22.7% | $29,162,114▲3.2% | $68,974,691▼1.8% | $71,182,786▼2.4% | 990 |
| 2014 | $36,069,847▲27.2% | $28,246,157▲15.1% | $70,269,969▲12.5% | $72,934,328▲13.0% | 990 |
| 2013 | $28,350,110 | $24,538,565▼5.7% | $62,454,980▲6.3% | $64,520,251▲6.4% | 990 |
| 2012 | — | $26,028,845▲16.5% | $58,731,695▼6.4% | $60,639,117▼9.6% | 990 |
| 2011 | — | $22,344,728▼5.5% | $62,718,516▲20.7% | $67,083,178▲17.3% | 990 |
| 2010 | — | $23,648,195 | $51,969,477 | $57,206,316 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Peter Goettler — $629,856 (1.51% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Peter Goettler | President & Ceo | 40 | $629,856 |
| Stephen Kurtz | Vp, Chief Digital Officer | 40 | $304,008 |
| Lesley Albanese | Sr Vp, Initiatives | 40 | $272,595 |
| Scott Lincicome | Vp, General Economics & Trade | 40 | $236,350 |
| Norbert Michel | Vp,director,monetary&financial | 40 | $227,711 |
| Clark Neily | Sr Vp For Legal Studies | 40 | $226,692 |
| Michael Cannon | Director of Health Policy | 40 | $215,820 |
| Harrison Moar | Vp For Development | 40 | $215,474 |
| Marissa Delgado | Secretary, Vp, Finance & Cfo | 40 | $214,892 |
| Baron Bond | Director | 2.5 | — |
| David C Humphreys | Director | 2.5 | — |
| Eileen S Leech | Director | 2.5 | — |
| Fred Young | Director | 2.5 | — |
| Howard S Rich | Dir., Vice Chair | 2.5 | — |
| James M Kilts | Director | 2.5 | — |
| James M Lapeyre Jr | Chairman | 2.5 | — |
| John A Allison | Director | 2.5 | — |
| John P Mackey | Director | 2.5 | — |
| Kenneth Levy | Director | 2.5 | — |
| Kenneth R French | Director | 2.5 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Kns Contracting LLC | Building Renovation | $1,119,986 |
| Community Couselling Services | Fundraising | $504,000 |
| A57 Digital Consulting LLC | Consulting Svcs | $331,050 |
| Kristi Kendall Co Inc | Video Production | $262,000 |
| Professional Maintenance Co | Janitorial Services | $170,091 |
Grants received · $102.0M total
276 grants to Cato Institute totaling $102.0M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Donors Trust Inc | For general operations | 2024 | $1,163,125 |
| Greater Kansas City Community Foundation | Education | 2024 | $766,500 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $330,000 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $277,600 |
| American Endowment Foundation | Public affairs | 2024 | $175,750 |
| Donors Trust Inc | For the sphere education initiative | 2024 | $125,000 |
| The Bessemer Giving Fund | General support | 2024 | $106,000 |
| St Louis Community Foundation Incorporated | General support | 2024 | $100,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $60,550 |
| American Online Giving Foundation Inc | General support | 2024 | $40,266 |
| Greater Horizons | Education | 2024 | $39,200 |
| Community Foundation of New Jersey | Civil & human rights and advocacy | 2024 | $25,000 |
| Ayco Charitable Foundation | Arts and culture | 2024 | $16,550 |
| Silicon Valley Community Foundation | Education | 2024 | $16,000 |
| Greater Cincinnati Foundation | Programatic support | 2024 | $11,300 |
Grants made · $170K in FY2023
5 grants totaling $170K in FY2023. All grants made by Cato Institute →
| Recipient | Purpose | Amount |
|---|---|---|
| York College of Pennsylvania | General support | $62,500 |
| Brookings Institution | Collaboration | $37,500 |
| Americas Future Foundation | General support | $30,000 |
| Project Ijtihad | General support | $30,000 |
| Students For Liberty Incorporated | Event support | $10,000 |
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Frequently asked questions
- Is Cato Institute a legitimate nonprofit?
- Yes. Cato Institute is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7432162, based in Washington, District of Columbia. Donations are tax-deductible.
- What is Cato Institute's EIN?
- Cato Institute's Employer Identification Number (EIN) is 23-7432162.
- How much revenue does Cato Institute report?
- Cato Institute reported $71,927,807 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Cato Institute's spending goes to programs?
- Cato Institute spends about 76% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Cato Institute have?
- CharityIndex grades Cato Institute A, based on program efficiency and fundraising cost.
- How much does Cato Institute's highest-paid employee make?
- The highest reported compensation on Cato Institute's latest Form 990 is $629,856, paid to Peter Goettler (President & Ceo).
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Explore more
Data for Cato Institute (EIN 23-7432162) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.