Center For Independent Thought Inc
- Assets
- $4.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Bala Cynwyd, PA
- Founding
- 09/1998
- Data as of
- 12/2021
- EIN
- 52-0945376
Organization Overview
Center For Independent Thought Inc is located in Bala Cynwyd, PA. The organization was established in 1998. According to its NTEE Classification (V24) the organization is classified as: Political Science, under the broad grouping of Social Science and related organizations. As of 12/2021, Center For Independent Thought Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Independent Thought Inc 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, Center For Independent Thought Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 16.0% 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, Center For Independent Thought Inc has awarded 36 individual grants totaling $939,750. 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
CIT SEEKS TO EXPAND AWARENESS OF INDIVIDUAL LIBERTY, FREE MARKETS AND PEACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STOSSEL TV - PRODUCES AND DISTRIBUTES VIDEOS VIA SOCIAL MEDIA THAT EDUCATE THE PUBLIC ABOUT THE PRINCIPLES AND BENEFITS OF LIMITED GOVERNMMENT, INDIVIDUAL LIBERTY, AND FREE MARKETS.NAMOMI BROCKWELL TV - PRODUCES AND DISTRIBUTES VIDEOS VIA SOCIAL MEDIA THAT SEEK TO EDUCATE YOUNG AUDIENCES ABOUT THE IMPORTANCE OF DIGITAL PRIVACY AND LIBERTY IN TECHNOLOGY, BLOCKCHAIN DEVELOPMENT, AND CRYPTOCURRENCY.
STOSSEL IN THE CLASSROOM - DISTRIBUTES TV JOURNALIST JOHN STOSSEL'S VIDEOS VIA INTERNET STREAMING AND DOWNLOADS, ALONG WITH TEACHER GUIDES, TO EDUCATE STUDENTS ABOUT THE PRINCIPLES AND BENEFITS OF LIMITED GOVERNMENT, INDIVIDUAL LIBERTY, AND FREE MARKETS. CIT SPONSORS ANNUAL STUDENT ESSAY AND VIDEO CONTESTS.
GRANT PROGRAM TO ORGANIZATIONS WHO PROMOTE OUR MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Schimenz President | OfficerTrustee | 40 | $87,000 |
Howard Rich Chairman | OfficerTrustee | 1 | $0 |
David Boaz Vice President | OfficerTrustee | 1 | $0 |
John Stossel Director | Trustee | 1 | $0 |
Anita Anderson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Center For Libertarian Thought Professional Services | 12/30/21 | $154,853 |
Jfs Productions Inc Professional Services | 12/30/21 | $183,344 |
Mdr Productions Professional Services | 12/30/21 | $176,000 |
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 | $3,661,295 |
| Noncash contributions included in lines 1a–1f | $973,297 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,661,295 |
| Total Program Service Revenue | $0 |
| Investment income | $17,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,010 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,704,042 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,000 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,000 |
| Compensation of current officers, directors, key employees. | $54,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357,706 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,598 |
| Payroll taxes | $32,472 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $333 |
| Fees for services: Accounting | $12,819 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,455 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $773,160 |
| Advertising and promotion | $44,152 |
| Office expenses | $40,625 |
| Information technology | $81,754 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,681 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,798,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,473,252 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $13,319 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $31,242 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,717,813 |
| Accounts payable and accrued expenses | $19,769 |
| 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 | $19,769 |
| Net assets without donor restrictions | $3,537,150 |
| Net assets with donor restrictions | $1,160,894 |
| 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 | $4,717,813 |
Grants Awarded
Over the last fiscal year, Center For Independent Thought Inc has awarded $300,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: GENERAL OPERATIONS | $100,000 |
Washington, DC PURPOSE: GENERAL OPERATIONS | $100,000 |
Washington, DC PURPOSE: GENERAL OPERATIONS | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Center For Independent Thought Inc has recieved totaling $715,306.
| Awarding Organization | Amount |
|---|---|
Donors Trust Inc Alexandria, VA PURPOSE: for general operations | $351,000 |
Searle Freedom Trust Madison, WI PURPOSE: EDUCATION AND OUTREACH | $150,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $100,000 |
Donors Trust Inc Alexandria, VA PURPOSE: $54,000 for the NBTV Division/ $4,500 for Stossel in the Classroom | $60,500 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $20,910 |
Rosenbluth Family Charitable Foundation Phoenix, AZ PURPOSE: STOSSEL IN THE CLASSROOM | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Democratic Socialists Of America Inc New York, NY | $4,898,729 | $6,854,135 |
Center For Independent Thought Inc Bala Cynwyd, PA | $4,717,813 | $3,704,042 |
American Assembly New York, NY | $27,391,919 | $3,217,603 |
Academy Of Political Science New York, NY | $1,734,690 | $521,198 |
American Academy Of Political And Social Science Philadelphia, PA | $5,200,244 | $601,750 |
Democratic Socialists Of America Fund Inc New York, NY | $660,229 | $333,692 |
New Jersey Center For Civic & Law Related Education Inc Piscataway, NJ | $2,274 | $0 |
Robert A Taft Institute Of Government Flushing, NY | $130,798 | $57,117 |
Conference For The Study Of Political Thought Association New York, NY | $11,506 | $0 |