The Public Interest Fellowship Foundation

Nonprofit profile at a glance

EIN
813033585
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Arlington, VA, USA
Phone
7273423460
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$4,153,194
Expenses
$4,455,229
Assets
$1,055,540
Liabilities
$15,507

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

Leadership & pay

8 people listed

Executive titles in this filing

  • PETER BERKOWITZ (DIRECTOR, VICE PRESIDENT)
  • GARRETT EXNER (PRESIDENT/EXECUTIVE DIRECTOR)

Highest reported compensation

  • GARRETT EXNER (PRESIDENT/EXECUTIVE DIRECTOR): $199,568 total reported compensation
  • SARAH BERAHA (DIRECTOR OF OPERATIONS): $142,066 total reported compensation
  • SERENA FRECHTERPFEIFFER (DEPUTY DIRECTOR (UNTIL 05/25)): $134,468 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 public interest fellowship foundation (tpiff) draws on the legacy of that great journal of ideas and policy founded by daniel bell and irving kristol. This legacy nourished generations of individuals dedicated to meeting the moral and cultural challenges of the day through the rigorous study of contemporary america and reclaiming of the enduring principles of the american constitutional tradition. Conceived in that spirit, tpiff provides exceptional young men and women with professional learning opportunities and a continuing education in the tradition of freedom. The unique combination of work and study is designed to advance a fellow's pursuit of careers devoted to enriching the cultural life of the united states.

What it reported doing in 2024

Seminars - fellows studied political philosophy, policy, and history. Each week of the program, they were required to produce weekly written responses, to engage in close text study, and to debate with each other.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 80% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 56
  • Accountability: 85
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th 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: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 50%; rating input score 50; 15th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.3%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 26.6% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 22% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 30.7% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.4M in reported program spending
  • Leadership: top reported pay $200K · 8 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.1M reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 7 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.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.