Commonwealth Institute For Fiscal Analysis
- Assets
- $3.5m
- Revenue
- $3.0m
- Investments
- $419.7k
- Employees
- 21
- Location
- Richmond, VA
- Founding
- 09/2010
- Data as of
- 12/2021
- EIN
- 27-1598303
Organization Overview
Commonwealth Institute For Fiscal Analysis is located in Richmond, VA. The organization was established in 2010. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Commonwealth Institute For Fiscal Analysis employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Institute For Fiscal Analysis 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 12/2021, Commonwealth Institute For Fiscal Analysis generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 8.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Commonwealth Institute For Fiscal Analysis has awarded 28 individual grants totaling $1,020,749. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO USE POLICY, RESEARCH, AND ANALYSIS TO ADVANCE THE WELL-BEING OF VIRGINIA COMMUNITIES, AND IMPROVE THE ECONOMIC SECURITY AND SOCIAL OPPORTUNITIES OF ALL VIRGINIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE PROVIDES CREDIBLE, INDEPENDENT, AND ACCESSIBLE INFORMATION AND ANALYSIS OF FISCAL AND ECONOMIC ISSUES WITH PARTICULAR ATTENTION TO THE IMPACTS OF LOW AND MODERATE INCOME PERSONS. THIS IS ACHIEVED THROUGH RESEARCH, ANALYSIS, AND EDUCATION IN THE AREAS OF BUDGET & TAX, LABOR & WAGE, HEALTH CARE, IMMIGRATION AND DECRIMINALIZATION OF POVERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Kenneth President & CEO | OfficerTrustee | 40 | $131,230 |
Elaine Maag Secretary | OfficerTrustee | 2 | $0 |
Thomas Calhoun Vice Chair | OfficerTrustee | 2 | $0 |
Latoya Asia Chair | OfficerTrustee | 2 | $0 |
Pierre Green Treasurer | OfficerTrustee | 2 | $0 |
Sharhonda Woods Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Virginia Education Association Education And Outreach | 12/30/18 | $103,092 |
Capital Results Communications & Media Relations Services | 12/30/18 | $245,399 |
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 | $2,936,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,936,562 |
| Total Program Service Revenue | $145 |
| Investment income | $14,621 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,951,328 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,121,619 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $115,342 |
| Payroll taxes | $86,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,194 |
| Fees for services: Other | $195,878 |
| Advertising and promotion | $14,067 |
| Office expenses | $13,028 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,527 |
| Travel | $3,565 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,302 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,092 |
| Insurance | $6,102 |
| All other expenses | $0 |
| Total functional expenses | $1,801,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,993,677 |
| Savings and temporary cash investments | $401,002 |
| Pledges and grants receivable | $605,000 |
| Accounts receivable, net | $0 |
| 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 | $4,381 |
| Net Land, buildings, and equipment | $47,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $419,705 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,051 |
| Total assets | $3,474,221 |
| Accounts payable and accrued expenses | $27,866 |
| 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 | $0 |
| Other liabilities | $27,479 |
| Total liabilities | $55,345 |
| Net assets without donor restrictions | $1,271,700 |
| Net assets with donor restrictions | $2,147,176 |
| 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 | $3,474,221 |
Grants Awarded
Over the last fiscal year, Commonwealth Institute For Fiscal Analysis has awarded $624,498 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
NEW VA MAJORITY PURPOSE: STRATEGIC PLANNING AND GRASSROOTS ORGANIZING | $96,000 |
NEW VA MAJORITY PURPOSE: STRATEGIC PLANNING AND GRASSROOTS ORGANIZING | $96,000 |
NEW VA MAJORITY PURPOSE: STRATEGIC PLANNING AND GRASSROOTS ORGANIZING | $96,000 |
Richmond, VA PURPOSE: POLICY, RESEARCH, AND ANALYSIS | $48,000 |
Richmond, VA PURPOSE: POLICY, RESEARCH, AND ANALYSIS | $48,000 |
Richmond, VA PURPOSE: POLICY, RESEARCH, AND ANALYSIS | $48,000 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Commonwealth Institute For Fiscal Analysis has recieved totaling $1,708,580.
| Awarding Organization | Amount |
|---|---|
Center On Budget And Policy Priorities Washington, DC PURPOSE: Proactive Revenues Cohort Project | $200,000 |
New Venture Fund Washington, DC PURPOSE: CIVIL RIGHTS, SOCIAL ACTION, ADVOCACY | $197,500 |
Eugene & Agnes E Meyer Foundation Washington, DC PURPOSE: TO SUPPORT GENERAL OPERATIONS OVER TWO YEARS ($160,000) AND WORK TO DECRIMINALIZE POVERTY ($75,000) | $155,000 |
Center On Budget And Policy Priorities Washington, DC PURPOSE: General Support | $150,000 |
Center On Budget And Policy Priorities Washington, DC PURPOSE: Safety Net Initiative Project | $100,000 |
Economic Policy Institute Washington, DC PURPOSE: EDUCATIONAL RESEARCH | $96,069 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Freedomworks Inc Washington, DC | $3,468,084 | $5,609,429 |
Center For Strategic And Budgetary Assessments Washington, DC | $2,639,810 | $6,371,347 |
Council On State Taxation Washington, DC | $3,072,367 | $4,726,725 |
Committee For A Responsible Federal Budget Washington, DC | $2,854,266 | $5,338,402 |
Aga Alexandria, VA | $6,831,962 | $5,483,639 |
International Tax & Investment Center Washington, DC | $3,853,010 | $2,633,793 |
Prosperity Alliance Inc Fairfax, VA | $1,099,186 | $3,530,000 |
Operation Lifesaver Inc Washington, DC | $1,419,478 | $2,622,409 |
Republican Governors Public Policy Committee Washington, DC | $3,734,909 | $3,934,225 |
Commonwealth Institute For Fiscal Analysis Richmond, VA | $3,474,221 | $2,951,328 |
Taxpayers For Common Sense Washington, DC | $2,221,300 | $2,504,065 |
Native American Financial Services Association Washington, DC | $167,087 | $793,241 |