Independence Institute
- Assets
- $6.3m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 16
- Location
- Denver, CO
- Founding
- 08/1985
- Data as of
- 12/2023
- EIN
- 84-0990300
Organization Overview
Independence Institute is located in Denver, CO. The organization was established in 1985. As of 12/2023, Independence Institute employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence 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, Independence Institute generated $3.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. 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
INDEPENDENCE INSTITUTE IS ESTABLISHED UPON THE ETERNAL TRUTHS OF THE DECLARATION OF INDEPENDENCE. FOUNDED IN 1985, THE INDEPENDENCE INSTITUTE IS A NON-PARTISAN, NON-PROFIT PUBLIC POLICY RESEARCH ORGANIZATION, DEDICATED TO PROVIDING TIMELY INFORMATION TO CONCERNED CITIZENS, GOVERNMENT OFFICIALS AND PUBLIC OPINION LEADERS. UNLIKE OTHER ORGANIZATIONS WHICH SEEK GOVERNMENT INTERVENTION AS THE BEST SOLUTION TO PUBLIC POLICY CHALLENGES, THE INDEPENDENCE INSTITUTE SEEKS TO EXPLORE ALL ALTERNATIVES, EMPHASIZING FREE MARKET, PRIVATE-SECTOR SOLUTIONS. THE INDEPENDENCE INSTITUTE IS RECOGNIZED BY FRIEND AND FOE ALIKE AS ONE OF THE MOST EFFECTIVE ORGANIZATIONS SETTING A FREEDOM AGENDA FOR COLORADO AND THE UNITED STATES. THROUGH THE INSTITUTE'S POLICY CENTERS, AREAS OF CRITICAL IMPORTANCE ARE ADDRESSED WITH A DEDICATED FOCUS. THE CENTERS ALLOW POLICY MAKERS, THE PUBLIC AND THE MEDIA, ACCESS TO A CONCENTRATED EDUCATIONAL SOURCE OF EXPERTISE AND EDUCATION ON SPECIFIC POLICY AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBERTY PROJECT - THE GOAL OF THE INDEPENDENCE INSTITUTE'S LIBERTY PROJECT IS TO EDUCATE THE CITIZENS, PUBLIC OFFICIALS, THE MEDIA, THE BUSINESS COMMUNITY AND CONCERNED CITIZENS ON FREE MARKET SOLUTIONS TO PUBLIC POLICY CHALLENGES. THE LIBERTY PROJECT SERVES AS OUR GENERAL RESEARCH AND SERVICES CATEGORY. ITS PURPOSE IS EDUCATION ON POLICY ISSUES NOT SPECIFIED IN A PARTICULAR POLICY CENTER.
SECOND AMENDMENT PROJECT - THE SECOND AMENDMENT PROJECT (SAP) HAS ESTABLISHED ITSELF AS THE WORLD'S LEADING POLICY RESEARCH CENTER IN THE SUPPORT OF THE RIGHT TO KEEP AND BEAR ARMS AS LAID OUT IN THE SECOND AMENDMENT OF THE UNITED STATES CONSTITUTION. SAP DIRECTOR DAVID KOPEL STUDIES THE LEGAL PRECEDENTS, NEWS AND OPINIONS, IN COLORADO, THE UNITED STATES AND THE WORLD, TO PROVIDE A CONSTITUTIONAL PERSPECTIVE ON TOPICS RANGING FROM LEGAL REFORM TO GUN RIGHTS.
EDUCATION POLICY CENTER - CALLING FOR GREATER INVOLVEMENT OF PARENTS IN THE ROLE OF EDUCATING CHILDREN, THE INDEPENDENCE INSTITUTE WAS THE FIRST IN THE STATE TO PROMOTE IDEAS SUCH AS OPEN ENROLLMENT, CHARTER SCHOOLS, SCHOOL REPORT CARDS AND VOUCHERS. THE EDUCATION POLICY CENTER, UNDER THE DIRECTION OF PAM BENIGNO, CONTINUES ITS WORK IN THE AREAS OF SCHOOL CHOICE AND SCHOOL ACCOUNTABILITY WHILE ALSO DEFENDING THE RIGHTS OF TEACHERS AND TAXPAYERS FROM UNION ABUSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Whitcomb Vice Chairman | OfficerTrustee | 1 | $0 |
Dick Wadhams Trustee | Trustee | 1 | $0 |
Catherine Shopneck Chairman | OfficerTrustee | 1 | $0 |
Joseph Smith Trustee | Trustee | 1 | $0 |
Mark Hillman Trustee | Trustee | 1 | $0 |
Mike Mccarty Treasurer | OfficerTrustee | 1 | $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 | $3,476,487 |
| Noncash contributions included in lines 1a–1f | $3,151 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,476,487 |
| Total Program Service Revenue | $0 |
| Investment income | $157,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,052 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,644,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $303,000 |
| 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. | $157,790 |
| Compensation of current officers, directors, key employees. | $8,442 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,039,841 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $54,459 |
| Payroll taxes | $86,023 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $67,201 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,601 |
| Advertising and promotion | $2,403 |
| Office expenses | $92,077 |
| Information technology | $29,535 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $34,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $94 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,521 |
| Insurance | $9,852 |
| All other expenses | $152,522 |
| Total functional expenses | $2,746,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,418,190 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,500 |
| 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 | $1,947,483 |
| Investments—publicly traded securities | $887,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,700 |
| Total assets | $6,308,175 |
| Accounts payable and accrued expenses | $36,845 |
| 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 | $90,936 |
| Total liabilities | $127,781 |
| Net assets without donor restrictions | $0 |
| 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 | $898,846 |
| Total liabilities and net assets/fund balances | $6,308,175 |
Grants Awarded
Over the last fiscal year, Independence Institute has awarded $300,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COLORADANS FOR CIVIL LIBERTIES PURPOSE: RESEARCH | $150,000 |
COLORADO INDEPENDENT ACTION PURPOSE: RESEARCH | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center For Policy Research Denver, CO | $4,097,994 | $3,927,578 |
Independence Institute Denver, CO | $6,308,175 | $3,644,899 |
Inter-Tribal Council Inc Miami, OK | $1,969,206 | $2,049,985 |
Pittsburg Public Library Board Pittsburg, KS | $84,227 | $1,189,967 |
United Tribes Of Kansas & Southeast Nebraska White Cloud, KS | $158,698 | $570,959 |
American Federation Of State County & Municipal Employees West Valley City, UT | $222,026 | $255,357 |