Economic Policy Innovation Center Inc

What it reported doing in 2024

Epic supports a free and open society that promotes economic abundance and opportunity for all citizens. Epic develops and promotes an economic policy agenda that advances a free and prosperous america by delivering practical policy solutions, educating policymakers, and building bridges with other constituencies in the policy ecosystem. Epic is focused on key issue areas, including the economy writ large; the federal budget (spending, taxes, and debt); education, workforce, and retirement; and social programs. Epic produces and distributes original research, provides federal policymakers with educational resources, and fosters cooperation with other organizations that also seek to improve the nation's fiscal health. Epic looks at long-term economic questions and how to solve them - assessing the country's most pressing economic challenges and then presenting solutions to these complex problems. Epic's innovative approach promotes a pro-growth agenda that advances freedom and meaningful reforms. Epic has continued to produce research on important, timely areas of budget and economic policy. The epic team's original research and findings, white papers and testimony, resources designed for congress (i.e., "epic analysis"), and accessible educational documents (i.e., "epic explainers") are publicly available on epic's website.dr. Paul winfree and the epic team released research outlining policy options for reconciliation, ideas for implementation of regulatory reform, and analysis of our nation's significant debt and deficit issues. Epic's research in 2024 also focused on significant federal spending on welfare programs (including food stamps), the need to enact policies that will enable economic mobility, the looming "fiscal cliff," improper federal government payments, analysis of the issues with the affordable connectivity program, the implications of insolvency for the social security trust fund, the true costs of inflation during the biden-harris administration, and the pitfalls of using government expansion as a means of driving economic growth. Epic not only analyzed legislative proposals, but held numerous briefings and educational meetings to relay the relevant information to policymakers and their staffs in a manner that helped drive policy changes and deepen understanding of the serious economic issues facing our country. In 2024, epic employed 8 full-time staff and fellows. In keeping with their stated mission, epic is continuing to grow, expand areas of research, and develop effective policy solutions that enable a free and prosperous america.

Financial Efficiency

• Mission deployment rate: 64.7%; rating input score 65
• Program expense ratio: 73.4%; rating input score 73
• Fundraising efficiency: $27.62 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 80%; rating input score 80; 14th 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: 11.8%; rating input score 66; 66th percentile among comparable filings
• Total-asset coverage ratio: 0.69; rating input score 25; 25th percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
• Officer compensation ratio: 51.4%; rating input score 1; 1st percentile among comparable filings

Growth

• Program expense growth: 144.4% per year; rating input score 100; 100th percentile among comparable filings
• Revenue growth: 49.8% per year; rating input score 100; 98th percentile among comparable filings
• Asset growth: 25.5% per year; rating input score 100; 90th percentile among comparable filings