Libertas Institute
- Assets
- $5.2m
- Revenue
- $13.9m
- Investments
- $630.7k
- Employees
- 105
- Location
- Lehi, UT
- Founding
- 04/2013
- Data as of
- 12/2022
- EIN
- 45-5254794
Organization Overview
Libertas Institute is located in Lehi, UT. The organization was established in 2013. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Libertas Institute employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Libertas Institute 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 12/2022, Libertas Institute generated $13.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 50.2% each year . All expenses for the organization totaled $13.7m during the year ending 12/2022. While expenses have increased by 55.0% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LIBERTAS INSTITUTE IS A PUBLIC POLICY AND EDUCATION ORGANIZATION FOCUSED ON FREE MARKETS AND INDIVIDUAL RIGHTS. WE GENERATE NON-PARTISAN ANALYSIS AND COMMENTARY, CONDUCT INVESTIGATIVE RESEARCH, AND PUBLISH EDUCATIONAL LITERATURE TO INFORM THE PUBLIC ABOUT OUR IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBERTAS INSTITUTE PRINTED A VARIETY OF EDUCATIONAL MATERIALS TO HELP ELECTED OFFICIALS, THE MEDIA, AND THE PUBLIC UNDERSTAND OUR PERSPECTIVE ON PRESSING POLICY ISSUES AND CURRENT EVENTS. WE CONDUCTED SEVERAL RESEARCH PROJECTS ON PUBLIC POLICY AND MET WITH STAKEHOLDERS TO PROPOSE REFORMS TO STATE LAW. IN ADDITION, WE DISTRIBUTED OVER ONE MILLION BOOKS AND PUBLISHED DOZENS OF OP-EDS AND ARTICLES TO GENERATE INTEREST IN INDIVIDUAL LIBERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connor Boyack Trustee/pres. | OfficerTrustee | 40 | $168,500 |
Michael Melendez Exec. Vice Pres | Officer | 40 | $116,833 |
John Pestana Board Chairman | Trustee | 0 | $0 |
Andrea Golding Trustee | Trustee | 0 | $0 |
Jeffrey Harmon Trustee | Trustee | 0 | $0 |
Patrick Donohoe Trustee | Trustee | 0 | $0 |
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 | $3,420,911 |
| Noncash contributions included in lines 1a–1f | $7,470 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,420,911 |
| Total Program Service Revenue | $10,841,883 |
| Investment income | -$358,690 |
| 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 | $13,904,104 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $285,333 |
| Compensation of current officers, directors, key employees. | $46,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,095,120 |
| Pension plan accruals and contributions | $39,521 |
| Other employee benefits | $24,389 |
| Payroll taxes | $178,354 |
| Fees for services: Management | $10,267 |
| Fees for services: Legal | $36,940 |
| Fees for services: Accounting | $16,826 |
| Fees for services: Lobbying | $25,000 |
| Fees for services: Fundraising | $454,018 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $506,028 |
| Advertising and promotion | $5,294,541 |
| Office expenses | $204,351 |
| Information technology | $206,583 |
| Royalties | $541,094 |
| Occupancy | $200,147 |
| Travel | $135,791 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $131,072 |
| Interest | $0 |
| Payments to affiliates | $258,763 |
| Depreciation, depletion, and amortization | $5,542 |
| Insurance | $35,798 |
| All other expenses | $34,609 |
| Total functional expenses | $13,670,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,516,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,294,235 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $27,184 |
| Investments—publicly traded securities | $320,625 |
| Investments—other securities | $630,746 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,398,384 |
| Total assets | $5,187,688 |
| Accounts payable and accrued expenses | $259,574 |
| 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 | $0 |
| Total liabilities | $259,574 |
| Net assets without donor restrictions | $4,928,114 |
| Net assets with donor restrictions | $0 |
| 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 | $5,187,688 |