Economic Policy Institute

Overview

Mission

Epi uses the tools of economics to bring the interests of low- and middle-income workers into economic policy discussions. Epi's rigorous research and transformative ideas fortify worker organizing, build a shared understanding of how power and policy shape economic outcomes, and help drive progressive policy change at every level of government. We partner with national and state grassroots organizations, academics, and labor unions to advance our mission.

What it reported doing in 2024

Economic analysis and research network (earn): the economic analysis and research network (earn) is a network of research and policy organizations. Earn advances a worker-centered economy through state and local policy change, rigorous research, and collaboration between researchers, champions, and community groups across the country.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

Nonprofit profile at a glance

EIN
521368964
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Washington, DC, USA
Phone
2027758810
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Economics

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 98
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.1%; rating input score 95
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $16.09 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.6%; rating input score 100; 35th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 96.3%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.9%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.44; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 8.4% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 95.1% of revenue deployed · 83.6% of spending went to programs
  • Governance: 26 of 27 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $11.4M in reported program spending
  • Leadership: top reported pay $276K · 33 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $480K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 57 filed money-flow records
  • Related organizations: 51 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Leadership & pay

33 people listed

Highest reported compensation

  • HEIDI SHIERHOLZ (PRESIDENT): $275,913 total reported compensation
  • NAOMI WALKER (VICE PRESIDENT): $256,199 total reported compensation
  • LYLE J BIVENS (CHIEF ECONOMIST/DIR. RESEA): $248,376 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.