Heritage Foundation
- Assets
- $381.3m
- Revenue
- $119.1m
- Investments
- $84.3m
- Employees
- 465
- Location
- Washington, DC
- Founding
- 11/1973
- Data as of
- 12/2020
- EIN
- 23-7327730
Organization Overview
Heritage Foundation is located in Washington, DC. The organization was established in 1973. According to its NTEE Classification (W05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Heritage Foundation employed 465 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Heritage Foundation generated $119.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $78.8m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Heritage Foundation has awarded 26 individual grants totaling $1,917,003. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO FORMULATE AND PROMOTE CONSERVATIVE PUBLIC POLICIES BASED ON THE PRINCIPLES OF FREE ENTERPRISE, LIMITED GOVERNMENT, INDIVIDUAL FREEDOM, TRADITIONAL AMERICAN VALUES, AND A STRONG NATIONAL DEFENSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(SEE SCHEDULE O)EDUCATIONAL PROGRAMS:THE HERITAGE FOUNDATION ("THF OR "THE FOUNDATION") HOSTS EVENTS AND SPONSORS PROGRAMS TO EDUCATE GOVERNMENT OFFICIALS, THE ACADEMIC COMMUNITY, JOURNALISTS, AND THE GENERAL PUBLIC ON TOPICS RANGING FROM THE FOUNDING FATHERS AND CIVIL SOCIETY TO POLITICAL PHILOSOPHY AND LEGAL PRINCIPLES. IN 2021, THF'S PUBLIC PROGRAMS PRODUCED 133 LIVE AND VIRTUAL EVENTS, ATTRACTING 20,514 ATTENDEES." HERITAGE'S RESOURCE BANK MEETING CONVENED OVER 300 CONSERVATIVE MOVEMENT LEADERS, DONORS, AND EXPERTS IN POLICY RESEARCH, CIVIC ENGAGEMENT, AND COMMUNICATION FOR THREE DAYS OF STRATEGIC DISCUSSIONS, WORKSHOPS, AND EDUCATIONAL PROGRAMMING. THF'S INTERN PROGRAM HOSTED A TOTAL OF 171 INTERNS, 75 OF WHICH WERE IN PERSON AND 96 IN A FULLY REMOTE WORK-STUDY EXPERIENCE. 480 YOUNG PROFESSIONALS PARTICIPATED IN THF'S ONLINE EDUCATIONAL SERIES, THE ACADEMY. THF'S GOVERNMENT RELATIONS HOSTED 146 POLICY BRIEFING EVENTS IN 2021 WITH PARTICIPATION FROM MULTIPLE CONGRESSIONAL OFFICES. PARTICIPANTS INCLUDED MEMBERS OF CONGRESS LEGISLATIVE STAFFERS, COMMUNICATIONS DIRECTORS, AND CHIEFS OF STAFF. ADDITIONAL INFORMATION IS AVAILABLE IN OUR 2021 ANNUAL REPORT, AVAILABLE ONLINE AT HTTPS://WWW.HERITAGE.ORG/ARTICLE/THE-HERITAGE-FOUNDATIONS-FINANCIAL-INFORMATION
(SEE SCHEDULE O)PUBLIC POLICY RESEARCH:THE HERITAGE FOUNDATION PRODUCES HUNDREDS OF RESEARCH PAPERS ANNUALLY, INCLUDING ISSUE BRIEFS, BLOG POSTS, FACT SHEETS, BACKGROUNDERS, GUIDES, AND BOOKS ADDRESSING A BROAD RANGE OF ECONOMIC, DOMESTIC, DEFENSE, FOREIGN, AND SOCIAL POLICY ISSUES. THESE PUBLICATIONS ANALYZE BOTH CURRENT PUBLIC POLICIES AND ALTERNATIVE POLICY RECOMMENDATIONS FOR SUBSTANCE AND MERIT. THE RESULTS OF OUR RESEARCH ARE AVAILABLE IN PRINT FORMAT AND AT NO CHARGE THROUGH OUR WEBSITE, WHICH IS VISITED BY MILLIONS. ADDITIONAL INFORMATION IS AVAILABLE IN OUR 2021 ANNUAL REPORT, AVAILABLE ONLINE AT HTTPS://WWW.HERITAGE.ORG/ARTICLE/THE-HERITAGE-FOUNDATIONS-FINANCIAL-INFORMATION.
(SEE SCHEDULE O)MEDIA AND GOVERNMENT RELATIONS:THE HERITAGE FOUNDATION DISTRIBUTES ITS RESEARCH PRODUCTS TO MEMBERS OF CONGRESS, CONGRESSIONAL STAFF, POLICYMAKERS IN THE EXECUTIVE BRANCH OF THE FEDERAL GOVERNMENT, STATE OFFICIALS, JOURNALISTS, MEMBERS OF THE ACADEMIC COMMUNITY, OTHER NON-PROFIT ORGANIZATIONS, THE GENERAL PUBLIC, AND DONORS. THE HERITAGE FOUNDATION CONDUCTS HUNDREDS OF BRIEFINGS FOR DOMESTIC AND INTERNATIONAL OFFICIALS, POLICYMAKERS, EXPERTS, AND LAWMAKERS AND THEIR STAFF ON ISSUES RANGING FROM FEDERAL SPENDING AND UNFUNDED LIABILITIES TO HOMELAND SECURITY, TAX, AND HEALTH POLICY. IN 2021, THF PUBLISHED 106 ISSUE BRIEFS, 107 BACKGROUNDERS, 19 LEGAL MEMORANDA, AND 8 SPECIAL REPORTS. THF DELIVERED 30 CONGRESSIONAL TESTIMONIES. THF'S ANALYSTS MADE OVER 5,300 RADIO AND TELEVISION APPEARANCES IN 2021 AND EARNED OVER 1,900 OP-ED PLACEMENTS IN MAJOR PRINT AND ONLINE MEDIA OUTLETS. THF SENT OUT A DAILY NEWSLETTER, "THE MORNING BELL," TO OVER 444,000 SUBSCRIBERS, A NEWSLETTER, "THE AGENDA" TO OVER 223,000 SUBSCRIBERS, AND PUBLISHED HUNDREDS OF ARTICLES THROUGH THE FOUNDATION'S DIGITAL NEWS PUBLICATIONS. THF'S SOCIAL MEDIA PLATFORMS HAD 4 MILLION FANS AND FOLLOWERS AND ITS WEBSITES HERITAGE.ORG AND DAILYSIGNAL.COM HAD 71.1 MILLION TOTAL VISITOR SESSIONS. HERITAGE AND DAILY SIGNAL VIDEOS RECEIVED 36.4 MILLION VIEWS AND THEIR PODCASTS HAD OVER 3 MILLION LISTENS.ADDITIONAL INFORMATION IS AVAILABLE IN OUR 2021 ANNUAL REPORT, AVAILABLE ONLINE AT HTTPS://WWW.HERITAGE.ORG/ARTICLE/THE-HERITAGE-FOUNDATIONS-FINANCIAL-INFORMATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kay Coles James President | OfficerTrustee | 40 | $930,249 |
James Carafano Vp, Davis Inst. For Nat'l Security | Officer | 40 | $310,701 |
Jack Spencer Vp, Inst. For Economic Freedom | Officer | 40 | $280,285 |
Robert Bluey Vp, Communications | Officer | 40 | $279,775 |
John Malcolm Vp, Inst. For Constitutional Gov't | Officer | 40 | $277,768 |
Wesley Dyck Vp, Personnel | Officer | 40 | $275,740 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bognet Construction Associates Inc Construction | 12/30/21 | $2,120,542 |
Merkle Response Services Inc Mailing Contact Mgmt | 12/30/21 | $1,470,573 |
Next After Llc Mailing Contact Mgmt | 12/30/21 | $1,249,259 |
Mds Communications Corporation Fundraising, Customer Service | 12/30/21 | $1,197,550 |
Conrad Direct Inc Mailing Contact Mgmt | 12/30/21 | $1,883,480 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,877,330 |
| Noncash contributions included in lines 1a–1f | $1,477,083 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,877,330 |
| Total Program Service Revenue | $152,804 |
| Investment income | $1,612,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $16,201 |
| Net Rental Income | -$1,061,120 |
| Net Gain/Loss on Asset Sales | $50,881,686 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,134,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $692,386 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,800,524 |
| Compensation of current officers, directors, key employees. | $93,376 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,863,680 |
| Pension plan accruals and contributions | $1,496,596 |
| Other employee benefits | $3,414,196 |
| Payroll taxes | $2,210,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,394 |
| Fees for services: Accounting | $94,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,255,780 |
| Fees for services: Investment Management | $1,156,900 |
| Fees for services: Other | $8,061,192 |
| Advertising and promotion | $1,751,961 |
| Office expenses | $12,877,501 |
| Information technology | $3,622,683 |
| Royalties | $0 |
| Occupancy | $2,300,640 |
| Travel | $276,155 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,486,118 |
| Interest | $330,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,915,294 |
| Insurance | $115,454 |
| All other expenses | $0 |
| Total functional expenses | $78,753,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,423 |
| Savings and temporary cash investments | $16,653,287 |
| Pledges and grants receivable | $8,586,648 |
| Accounts receivable, net | $233,787 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $766,537 |
| Net Land, buildings, and equipment | $92,825,388 |
| Investments—publicly traded securities | $176,968,519 |
| Investments—other securities | $84,287,111 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,009,169 |
| Total assets | $381,332,869 |
| Accounts payable and accrued expenses | $9,526,479 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $26,957,136 |
| Other liabilities | $13,095,106 |
| Total liabilities | $49,578,721 |
| Net assets without donor restrictions | $242,678,801 |
| Net assets with donor restrictions | $89,075,347 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $381,332,869 |
Grants Awarded
Over the last fiscal year, Heritage Foundation has awarded $115,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Alexandria, VA PURPOSE: GENERAL OPERATIONS | $75,000 |
READY WILLING & WORKING PURPOSE: GENERAL OPERATIONS | $40,000 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Heritage Foundation has recieved totaling $227,849.
| Awarding Organization | Amount |
|---|---|
Herbert H And Barbara C Dow Foundation Frankfort, MI PURPOSE: OPERATING EXPENSES | $50,000 |
Charles H Boyle Fon Inc Memphis, TN PURPOSE: TO FURTHER DONEE'S 501(C)(3) PURPOSES | $40,000 |
George T & Joan M Beck Foundation Inc Ocean Ridge, FL PURPOSE: GENERAL | $37,582 |
Thomson Family Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $35,000 |
The William A And Genevieve H Strong Foundation Tr Pine Bluff, AR PURPOSE: General Support | $23,520 |
The William A And Genevieve H Strong Foundation Tr Pine Bluff, AR PURPOSE: General Support | $17,640 |
Endowment Analysis
| Beg. Balance | $216,474,428 |
| Earnings | $40,285,428 |
| Admin Expense | $1,044,204 |
| Net Contributions | $448,633 |
| Other Expense | $10,230,554 |
| Ending Balance | $245,933,731 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Foundation Washington, DC | $381,332,869 | $119,134,479 |
Center On Budget And Policy Priorities Washington, DC | $126,856,669 | $53,436,981 |
Stand Together Foundation Arlington, VA | $244,539,252 | $260,533,997 |
Bipartisan Policy Center Inc Washington, DC | $51,557,481 | $44,892,397 |
Center For The Study Of Services Washington, DC | $11,715,513 | $16,033,912 |
American Bridge 21st Century Foundation Washington, DC | $2,285,446 | $9,934,660 |
National Governors Association Center For Best Practices Washington, DC | $36,736,183 | $16,037,440 |
Nreca Research Arlington, VA | $5,324,315 | $13,693,671 |
National Center On Education & The Economy Washington, DC | $72,771,895 | $12,008,332 |
National Center For Public Policy Research Inc Washington, DC | $2,951,732 | $13,112,904 |
Pulitzer Center On Crisis Reporting Washington, DC | $35,485,888 | $10,738,135 |
The Niskanen Center Inc Washington, DC | $8,745,910 | $12,163,223 |