The Independent Institute

Nonprofit profile at a glance

EIN
943008370
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Oakland, CA, USA
Phone
5106321366
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$6,514,941
Expenses
$6,603,018
Assets
$12,956,735
Liabilities
$936,549

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

Leadership & pay

16 people listed

Executive titles in this filing

  • GRAHAM H WALKER (PRESIDENT)
  • MARY L G THEROUX (CHAIRMAN AND CEO)

Highest reported compensation

  • GRAHAM H WALKER (PRESIDENT): $296,289 total reported compensation
  • PHIL MAGNESS (DJT CHAIR): $226,837 total reported compensation
  • WILLIAMSON EVERS (SENIOR FELLOW AND COEE DIRECTOR): $206,160 total reported compensation

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

Overview

Mission

Established in the entrepreneurial spirit of its home in silicon valley, the non-profit, non-partisan independent institute employs innovative thinking to boldly advance peaceful, prosperous, and free societies grounded in a commitment to human worth and dignity.

What it reported doing in 2024

Disseminating ideas: independent deploys best-in-class transmedia campaigns to connect its rigorous research to targeted audiences, encouraging the application of these ideas into the culture and community in winning the battle of ideas. These activities include publishing the work in various formats (book, journal article, or other publication), and then aggressively marketing the results to position the findings across major opinion audiences. Independent organizes conferences and media programs, and repackages the findings to communicate to different kinds and levels of audiences. We utilize online platforms and social media in targeting audiences on those matters that will directly affect them. These activities attract over 1 million website visitors, half a million social media followers, and 5.5 billion media impressions per year.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 74
  • Accountability: 87
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.2%; rating input score 86
  • Program expense ratio: 77.5%; rating input score 78
  • Fundraising efficiency: $6.84 raised per $1 spent on fundraising; rating input score 25; 25th 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: 77.8%; rating input score 78; 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: -1.4%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 1.96; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 86.2% of revenue deployed · 77.5% of spending went to programs
  • Governance: 7 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $5.1M in reported program spending
  • Leadership: top reported pay $296K · 16 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 25/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.