National Bureau of Economic Research Inc is a 501(c)(3) organization based in Cambridge, Massachusetts, registered in 1921, with $46,995,418 in FY2024 revenue. CharityIndex grades it A, and it directs about 70% of spending to programs.
Revenue (FY2024)
$47.0M
▼ 23.0% vs prior year
Social Science median: $380K
Expenses (FY2024)
$38.9M
Net assets
$181.1M
Employees
458
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 National Bureau of Economic Research Inc: 70% to programs · $0 to raise $100 earns a B on this criterion. See the exact thresholds →
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 National Bureau of Economic Research Inc: 56 mo reserves · +17% margin earns a A on this criterion. See the exact thresholds →
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 National Bureau of Economic Research Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
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 National Bureau of Economic Research Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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The national bureau of economic research is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. it is committed to undertaking and disseminating unbiased economic research among academic researchers, policy-makers, and business professionals.
Research meetings: the nber organized over 150 research meetings and conferences during the year, including more than 50 meetings that taken together constitute the nber's summer institute. these meetings provide an opportunity for researchers, both nber affiliates and other invitees, to present their latest research findings and to exchange ideas about ongoing research. the meetings include both research conducted through the nber and other relevant academic research. these meetings are organized by the nber's program directors and working group directors, or other researchers selected by them. most are held in cambridge, massachusetts, although some are held in other locations. some meetings are held virtually, and videos of most meetings are posted for several weeks after the event.
Publications: the nber disseminates the scientific findings of its affiliated researchers in several ways: by inclusion in the nber working paper series, by publishing books, usually in collaboration with the university of chicago press, and by highlighting research in the more broadly-distributed nber digest, nber reporter, nber bulletin on health, nber bulletin on entrepreneurship, and the nber bulletin on the economics of alzheimer's disease and related dementias. the nber posts over twelve hundred working papers annually, and more than a nine hundred institutions subscribe to the nber working paper series. the circulation of the digest and reporter publications is several times larger.
Revenue grew from $39.7M (FY2013) to $47.0M (FY2024) across 12 reported years.
Financial snapshot
Operating margin
17.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$206.0M
Total liabilities
$24.9M
Net assets
$181.1M
Salaries & benefits
$19.1M
49% of expenses
Board members
50
49 independent
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $46,995,418▼23.0% | $38,923,964▲1.2% | $181,070,633▲10.3% | $206,005,855▲8.7% | 990 |
| 2023 | $61,021,762▲46.4% | $38,448,505▼0.1% | $164,194,987▲10.8% | $189,583,834▲7.2% | 990 |
| 2022 | $41,671,966▼1.1% | $38,473,599▲14.1% | $148,150,791▲7.4% | $176,832,918▲15.4% | 990 |
| 2021 | $42,145,646▼23.0% | $33,720,721▲0.3% | $137,958,511▼15.4% | $153,221,973▼13.9% | 990 |
| 2020 | $54,750,098▲28.1% | $33,621,885▼8.0% | $163,022,248▲32.6% | $177,982,489▲29.6% | 990 |
| 2019 | $42,730,306▲5.9% | $36,548,432▼3.5% | $122,913,879▼2.3% | $137,370,468▼0.8% | 990 |
| 2018 | $40,352,849▼9.1% | $37,868,038▼6.8% | $125,845,703▲2.4% | $138,494,267▲1.6% | 990 |
| 2017 | $44,375,535▲8.5% | $40,635,874▲3.0% | $122,955,484▲5.9% | $136,259,551▲5.9% | 990 |
| 2016 | $40,895,043▲22.9% | $39,456,834▲16.1% | $116,157,158▲10.0% | $128,713,178▲8.3% | 990 |
| 2015 | $33,263,297▼6.9% | $33,988,867▲3.1% | $105,589,903▼3.9% | $118,832,501▼4.1% | 990 |
| 2014 | $35,711,166▼10.1% | $32,979,628▼7.7% | $109,822,884▼5.1% | $123,850,304▼5.2% | 990 |
| 2013 | $39,720,762 | $35,749,616▼1.8% | $115,777,730▲13.8% | $130,700,412▲11.0% | 990 |
| 2012 | — | $36,411,282▼5.3% | $101,723,584▲8.5% | $117,730,281▲5.5% | 990 |
| 2011 | — | $38,449,627▲5.6% | $93,794,992▼6.0% | $111,574,549▼6.3% | 990 |
| 2010 | — | $36,409,290▼0.9% | $99,804,561▲25.2% | $119,039,622▲17.0% | 990 |
| 2009 | — | $36,738,382 | $79,713,559 | $101,749,928 | 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.
Highest-paid: James M Poterba — $886,629 (2.28% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| James M Poterba | President & Ceo | 35 | $886,629 |
| Erin Richardson | Dir of Information Systems | 35 | $308,434 |
| Alterra Milone | Corp Sec & Dir of Grants | 35 | $291,601 |
| Kelly Horak | Asst Corp Sec & Controller | 35 | $266,032 |
| Mohan Ramanujan | Unix System Administrator | 35 | $243,769 |
| Richard Woodbury | Aging Program Specialist | 26 | $207,774 |
| Steve Harriman | Asst Dir of Accounting | 35 | $197,059 |
| Alison Oaxaca | Asst Dir of Grants | 35 | $175,572 |
| Deborah Nicholson | Webmaster | 28 | $157,227 |
| Denis Healy | Asst Corp Sec & Dir Corp Relations | 35 | $146,659 |
| Abigail Murrell | Asst Corp Sec & Corp/found. Relations | 35 | $64,054 |
| Alan V Deardorff | Director | 1 | — |
| Alicia H Munnell | Director | 1 | — |
| Andrew Postlewaite | Director Emeritus | 1 | — |
| Andrew Racine | Director | 1 | — |
| Angelo Melino | Director | 1 | — |
| Anne Huff Stevens | Director | 1 | — |
| Anne Mccants | Director | 1 | — |
| Arthur Kennickell | Director | 1 | — |
| Barry Melancon | Treasurer & Director | 1 | — |
| Contractor | Services | Paid |
|---|---|---|
| Infor (us) Inc | Information Technology Support | $293,553 |
| Black Diamond Networks Inc | Information Technology & Website Support | $214,720 |
| North Atlantic Networks LLC | Information Technology Consulting | $194,997 |
| Adp Inc | Payroll/human Resources Processing | $170,506 |
| Blackrock Inc | Investment Management | $145,374 |
28 grants to National Bureau of Economic Research Inc totaling $1.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| National Philanthropic Tr | Public, societal benefit | 2023 | $214,775 |
| President and Fellows of Harvard College | Sponsored research sub-award | 2023 | $137,027 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $20,100 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $50,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $50,000 |
| President and Fellows of Harvard College | Sponsored research sub-award | 2022 | $48,400 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $20,100 |
| Global Impact | Fiscal sponsorship | 2021 | $249,999 |
| President and Fellows of Harvard College | Sponsored research sub-award | 2021 | $161,465 |
| Tides Foundation | Equality, human rights, and economic empowerment | 2020 | $50,000 |
| President and Fellows of Harvard College | Sponsored research sub-award | 2020 | $24,572 |
| Trustees of Columbia University | Research | 2019 | $22,067 |
| Donor Advised Charitable Giving | Public, societal benefit | 2018 | $270,000 |
| Trustees of Boston University | Research | 2018 | $38,272 |
| Carnegie Mellon University | Education/research subcontracts | 2018 | $27,928 |
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Data for National Bureau of Economic Research Inc (EIN 13-1641075) 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.