Foundation for Defense of Democracies

Legal name: Foundation for the Defense of Democracies Inc

Nonprofit profile at a glance

EIN
134174402
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2021
Location
Washington, DC, USA
Phone
202-207-0190
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations
Affiliation
Judaism

Official website

Reported finances

Revenue
$32,538,609
Expenses
$30,922,870
Assets
$41,304,210
Liabilities
$13,600,276

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

34 people listed

Executive titles in this filing

  • Mark Dubowitz (CEO)
  • Clifford May (President)

Highest reported compensation

  • Mark Dubowitz (CEO): $905,290 total reported compensation
  • Clifford May (President): $844,320 total reported compensation
  • Jonathan J Schanzer (SVP): $639,147 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation for Defense of Democracies (FDD) is a Washington, DC-based nonpartisan 501(c)(3) research institute focusing on national security and foreign policy. FDD conducts in-depth research, produces accurate and timely analyses, identifies illicit activities, and provides policy options – all with the aim of strengthening U.S. national security and reducing or eliminating threats posed by adversaries and enemies of the United States and other free nations. Founded shortly after the attacks of September 11, 2001, FDD conducts actionable research, prepared by experts and scholars from a variety of backgrounds – including government, intelligence, military, private sector, academia, and journalism. It brings proficiency in foreign languages, law, finance, technology, and other skills to its work. FDD regularly provides open-source research and analy.

What it reported doing in 2024

Center on Military and Political Power: Promotes understanding of the defense strategies, policies, and capabilities necessary to deter and defeat threats to the freedom, security, and prosperity of Americans and our allies by providing rigorous, timely, and relevant research and analysis.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.1%; rating input score 71
  • Program expense ratio: 74.5%; rating input score 74
  • Fundraising efficiency: $11.05 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92%; rating input score 92; 24th 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: 5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 18.5%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 10.5% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 71.1% of revenue deployed · 74.5% of spending went to programs
  • Governance: 23 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 8 filed program accomplishments · $23M in reported program spending
  • Leadership: top reported pay $905K · 34 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.6M reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 2 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.