Lexington Institute
- Assets
- $3.8m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Arlington, VA
- Founding
- 05/1998
- Data as of
- 12/2023
- EIN
- 54-1880642
Organization Overview
Lexington Institute is located in Arlington, VA. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Lexington Institute employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington 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 12/2023, Lexington Institute generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE SUPPORTS AND PROVIDES RESEARCH REGARDING ISSUES OF PUBLIC POLICY HAVING EFFECTS ON THE RIGHTS, FREEDOM, SECURITY, AND QUALITY OF LIFE OF AMERICAN CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE SUPPORTS AND PROVIDES RESEARCH REGARDING ISSUES OF PUBLIC POLICY HAVING EFFECTS ON THE RIGHTS, FREEDOM, SECURITY, AND QUALITY OF LIFE OF AMERICAN CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merrick Carey CEO | OfficerTrustee | 45 | $396,942 |
Loren Thompson COO | OfficerTrustee | 45 | $396,942 |
James Courter Chairman | Trustee | 1 | $0 |
Russell Redenbaugh Director | Trustee | 0 | $0 |
Daniel Goure Vice President | 40 | $251,250 |
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 | $1,692,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,692,200 |
| Total Program Service Revenue | $0 |
| Investment income | $96,892 |
| 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 | $1,789,254 |
| 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. | $1,045,134 |
| Compensation of current officers, directors, key employees. | $79,388 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,975 |
| Payroll taxes | $57,795 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,819 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,707 |
| Advertising and promotion | $0 |
| Office expenses | $7,609 |
| Information technology | $5,787 |
| Royalties | $0 |
| Occupancy | $80,230 |
| Travel | $5,856 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,506 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,938 |
| Insurance | $8,234 |
| All other expenses | $13,181 |
| Total functional expenses | $1,673,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,917,222 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $12,128 |
| Net Land, buildings, and equipment | $6,078 |
| Investments—publicly traded securities | $1,814,821 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,651 |
| Other assets | $8,180 |
| Total assets | $3,760,080 |
| Accounts payable and accrued expenses | $100,296 |
| 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 | $100,296 |
| Net assets without donor restrictions | $3,659,784 |
| 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 | $3,760,080 |