2026-07-14T12:32:33-05:00 2025-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2025-01-01 521703065 TAX FOUNDATION TAXF 2024646200 1325 G STREET NW 950 WASHINGTON DC 20005 DANIEL BUNN PRESIDENT & CEO 2024646200 2026-07-14 1 RICHARD J LOCASTRO CPA P00288314 3019519090 2025 2025-03-06 01:10:19Z DANIEL BUNN 1325 G STREET NW 950 WASHINGTON DC 20005 8285946 0 X WWW.TAXFOUNDATION.ORG X 1990 DC TO IMPROVE LIVES THROUGH TAX POLICIES THAT LEAD TO GREATER ECONOMIC GROWTH AND OPPORTUNITY. 13 13 58 13 0 0 7927485 7590310 30000 0 291916 98424 -287797 57955 7961604 7746689 31437 532685 0 0 5876598 6210833 62421 70053 1374038 2951664 2280769 8922120 9094340 -960516 -1347651 7097425 7907311 1433284 3064686 5664141 4842625 X TO IMPROVE LIVES THROUGH TAX POLICIES THAT LEAD TO GREATER ECONOMIC GROWTH AND OPPORTUNITY. 0 0 1803078 MARKETING AND COMMUNICATION - THE FOUNDATION'S MARKETING AND COMMUNICATIONS TEAM MAKES TAX POLICY ENGAGING AND ACCESSIBLE TO TAXPAYERS, LEGISLATORS, AND THE MEDIA THROUGH INNOVATIVE, MULTI-CHANNEL CAMPAIGNS. THE FOUNDATION'S TEAM DELIVERS HIGH-QUALITY CONTENT TO THE RIGHT PEOPLE, AT THE RIGHT TIME, IN A FORMAT THAT PROMOTES DEEPER UNDERSTANDING USING TOOLS LIKE SOCIAL MEDIA, DIGITAL ADVERTISING, INTERACTIVE WEB EXPERIENCES, AND EMAIL. IN 2025, THE FOUNDATION EARNED 68,624 MEDIA CITATIONS IN THE WORLD'S TOP NEWS OUTLETS, INCLUDING THE WALL STREET JOURNAL, THE WASHINGTON POST, THE NEW YORK TIMES, NBC NEWS, FOX NEWS, AND NPR; ITS EXPERTS CONDUCTED 94 RADIO AND TV INTERVIEWS AND PLACED 47 OP-EDS; TAXFOUNDATION.ORG WAS VISITED 24 MILLION TIMES; ITS SOCIAL MEDIA AUDIENCE GREW 127 PERCENT TO OVER 145,000 TOTAL FOLLOWERS; ITS PODCAST LISTENERSHIP GREW BY 140 PERCENT, RESULTING IN OVER 462,000 LISTENS; AND ITS EMAIL NEWSLETTER GREW 9 PERCENT TO OVER 83,200 SUBSCRIBERS. 1760457 FEDERAL TAX POLICY - THIS PROGRAM PROMOTES SOUND TAX POLICY IN WASHINGTON D.C. THE FOUNDATION PROVIDES OBJECTIVE DATA AND ANALYSIS ON TAX POLICY USING SEVERAL TOOLS, INCLUDING MODELING OF ECONOMIC AND BUDGETARY EFFECTS, RESEARCH, WRITING, CAPITOL HILL BRIEFINGS, AND CONGRESSIONAL TESTIMONY. THE FOUNDATION HAS ESTABLISHED ITSELF AS THE GO-TO RESOURCE ON FEDERAL TAX ISSUES FOR POLICYMAKERS. IN 2025, THE STAFF CONDUCTED MORE THAN 96 CAPITOL HILL MEETINGS, BRIEFINGS, AND PRESENTATIONS TO VARIOUS PUBLIC AUDIENCES, WERE CITED BY MEMBERS OF CONGRESS 53 TIMES, AND PRODUCED DOZENS OF REPORTS AND BLOG POSTS ON A VARIETY OF ISSUES THAT RECEIVED MORE THAN 55,700 CITATIONS IN LEADING MEDIA OUTLETS. 1529997 532685 GLOBAL TAX POLICY - THIS PROGRAM WAS LAUNCHED TO PROMOTE PRO-GROWTH TAX POLICIES THROUGHOUT THE WORLD WITH A PRIMARY FOCUS ON US CROSS BORDER POLICIES AND THOSE IN EUROPE. THE GLOBAL PROGRAM PRODUCES IN-DEPTH STUDIES OF ECONOMIC DATA AND USES A VARIETY OF MEASURES, SUCH AS THE INTERNATIONAL TAX COMPETITIVENESS INDEX, TO COMPARE TAX SYSTEMS. THE FOUNDATION'S EXPERTS HAVE PROVIDED BRIEFINGS IN COUNTRIES THROUGHOUT EUROPE AND ARE RELIED UPON BY MEDIA, POLICY MAKERS, AND OTHER POLICY GROUPS TO PROVIDE ANALYSIS OF TAX PROPOSALS THROUGHOUT THE WORLD. IN 2025, THE FOUNDATION'S EXPERTS WERE CITED IN 84 COUNTRIES, TESTIFIED BEFORE CONGRESSES AND PARLIAMENTS ALIKE, AND RECEIVED NEARLY 18,000 MEDIA CITATIONS. 1170777 STATE TAX POLICY - THIS PROGRAM PROMOTES STATE TAX REFORM WITH COMPREHENSIVE ANNUAL REPORTS, RESEARCH, POLICY ANALYSIS, AND IN-DEPTH STATE-SPECIFIC STUDIES. IN 2025, THE FOUNDATION TESTIFIED OR PRESENTED TO OFFICIALSVIRTUALLY AND IN-PERSONIN 35 STATES, MET WITH IN STATE GROUPS OR AUDIENCES IN ALL 50 STATES AND THE DISTRICT OF COLUMBIA, AND ITS FLAGSHIP STATE TAX COMPETITIVENESS INDEX (STCI) WAS VIEWED NEARLY 471,000 TIMES (A 172 PERCENT INCREASE OVER 2024). THE FOUNDATION IS OFTEN LOOKED TO BY LEGISLATORS, TAXPAYERS, AND THE MEDIA (WITH 18,890 MEDIA CITATIONS IN 2025) TO RECOMMEND TAX REFORM OPTIONS OR PROVIDE ANALYSIS OF TAX PLANS. THE FOUNDATION'S ANALYSIS, AND STUDIES SUCH AS THE STCI, INFORM THE TAX REFORM DEBATE ACROSS THE COUNTRY AND HAVE BEEN CRUCIAL TO MAJOR TAX CHANGES IN MANY STATES, AND FOUNDATION EXPERTS HAVE BEEN A VITAL RESOURCE TO POLICY MAKERS AND JOURNALIST AS STATES NAVIGATE AN INCREASINGLY MOBILE ECONOMY CHARACTERIZED BY A GREATER FOCUS ON TAX COMPETITIVENESS. 194871 TAX EDUCATION - TAXEDU IS DESIGNED AS A SIMPLIFIED RESOURCE TO ADVANCE TAX POLICY EDUCATION, DISCUSSION, AND UNDERSTANDING IN CLASSROOMS, LIVING ROOMS, AND GOVERNMENT CHAMBERS. TAXEDU GIVES TEACHERS THE TOOLS TO MAKE STUDENTS BETTER CITIZENS, TAXPAYERS A VOCABULARY TO SEE THROUGH THE RHETORIC, LAWMAKERS CRASH COURSES TO WRITE SMARTER LAWS, AND VIDEOS FOR ANYONE WHO WANTS TO BOOST THEIR TAX KNOWLEDGE ON THE GO. IN 2025, TAXEDU RESOURCES REACHED MORE THAN 18,000 USERS, OUR PROGRAM LEADERS HAD SEVEN SPEAKING OPPORTUNITIES, AND OUR EXPLAINER VIDEOS EXCEEDED 1.5 MILLION VIEWS. EDUCATION IS THE HEARTBEAT OF TAX FOUNDATION'S MISSION, AND TAXEDU IS FILLING A GAP THAT HAS LONG EXISTED IN CLASSROOMS, LIVING ROOMS, AND EVEN ONLINE DISCOURSE. TAX ILLITERACY IS A SERIOUS PROBLEM. TAXEDU IS PROVING IT'S ONE WE CAN SOLVE. 1365648 6459180 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 16 0 1 58 1 0 1 BE 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X X DANIEL BUNN 2024646200 1325 G STREET NW 950 WASHINGTON DC 20005 DAVE P LEWIS CHAIRMAN 1.00 X X 0 0 0 JAMES W LINTOTT TREASURER 1.00 X X 0 0 0 THE HONORABLE PHILIP ENGLISH DIRECTOR 1.00 X 0 0 0 DENNIS GROTH DIRECTOR 1.00 X 0 0 0 DOUGLAS HOLTZ-EAKIN DIRECTOR 1.00 X 0 0 0 TOM ROESSER DIRECTOR 1.00 X 0 0 0 KURT LAMP DIRECTOR 1.00 X 0 0 0 LOREN PONDS DIRECTOR 1.00 X 0 0 0 PHIL BULLOCK DIRECTOR 1.00 X 0 0 0 TADD FOWLER DIRECTOR 1.00 X 0 0 0 THE HONORABLE KEVIN BRADY DIRECTOR 1.00 X 0 0 0 STEPHEN KRANZ DIRECTOR 1.00 X 0 0 0 PAMELA OLSON DIRECTOR 1.00 X 0 0 0 DANIEL BUNN PRESIDENT & CEO AND BOARD SECRETARY 40.00 X 362681 0 45865 WILLIAM MCBRIDE CHIEF ECONOMIST 40.00 X 212610 0 24455 ALAN COLE SENIOR ECONOMIST 40.00 X 168494 0 17799 WHITNEY EVANS DIRECTOR OF DEVELOPMENT 40.00 X 158282 0 27284 COLBY PASTRE VP OF MARKETING & COMMUNICATIONS 40.00 X 169099 0 9506 JARED WALCZAK VP OF STATE POLICY 40.00 X 164129 0 8919 1235295 0 133828 20 0 1 0 EVENTEQ 7079 OAKLAND MILLS ROAD COLUMBIA MD 21046 EVENT SERVICES 255502 WELL DUNN CATERING 5226 MONROE PLACE HYATTSVILLE MD 20781 EVENT CATERING 213085 HAN GROUP 1750 TYSONS BOULEVARD 1500 MCLEAN VA 22102 ACCOUNTING 145254 DAVIDSON & CO 216 W PALL MALL ST WINCHESTER VA 22601 DIRECT MAIL FUNDRAISING 113379 PLANET DIRECT MAIL 11050 CHALLENGER COURT MANASSAS VA 22601 DIRECT MAIL EXPENSES 113370 5 662336 6927974 100367 7590310 98411 98411 70494 70481 13 13 13 526731 662336 468776 57955 57955 7746689 0 0 156379 532685 532685 408546 163418 122564 122564 4833809 3600673 516632 716504 255828 189089 28169 38570 319967 240671 32893 46403 392683 283055 47262 62366 6466 148 6318 169213 3865 165348 70053 70053 166082 90575 28885 46622 68073 66870 1203 110769 54559 27702 28508 261493 230462 -1412 32443 357808 259270 42481 56057 233811 140515 22435 70861 81278 51529 29413 336 223545 161136 26905 35504 33131 24871 3562 4698 DIRECT MAIL EXPENSES 316813 195959 120854 SUBSCRIPTIONS 115208 72492 22493 20223 PAYROLL PROCESSING FEES 70836 51060 8526 11250 STAFF DEVELOPMENT 46658 33632 5616 7410 19585 12646 3273 3666 9094340 6459180 1261122 1374038 700899 1102327 173182 7870 940750 445596 152992 150000 83402 136311 1417643 1173537 414473 244106 3832537 3368294 799190 2452807 7097425 7907311 452524 363277 20000 960760 2701409 1433284 3064686 X 4701564 4787625 962577 55000 5664141 4842625 7097425 7907311 -1347651 526135 0 X 0 1 X 1 0 X 6658660 6864038 8036003 7927485 7985320 37471506 6658660 6864038 8036003 7927485 7985320 37471506 4936627 32534879 69898 79949 140038 145480 98411 533776 2954 12630 3746 19330 38024612 0.85560 0.81930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 9094340 9094340 604717 151179 0 0 387803 439749 527256 604717 1959525 2939288 96951 109937 131814 151179 489881 734822 645581 592120 53461 312625 303958 8667 459437 277459 181978 244106 OPERATING LEASE RIGHT-OF-USE ASSET 2342949 DEPOSITS 36751 BENEFICIAL INTEREST IN SPLIT INTEREST AGREEMENT 73107 2452807 LEASE LIABILITY - OPERATING LEASE 2666409 REFUNDABLE ADVANCE 35000 2701409 8384143 526135 111319 637454 7746689 0 7746689 9024006 -70334 -70334 9094340 0 9094340 PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE FROM TAX FOUNDATION EUROPE, INCLUDED IN THE 627,850. CONSOLIDATED AUDIT REPORT AND EXCLUDED FROM TAX FOUNDATION FORM 990 REPORTING. GRANT FROM TAX FOUNDATION TO TAX FOUNDATION EUROPE, -516,531. ELIMINATED IN THE CONSOLIDATED AUDIT REPORT AND REPORTED AS A GRANT EXPENSE ON TAX FOUNDATION PART IX, LINE 3. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM TAX FOUNDATION EUROPE, INCLUDED IN THE 446,197. CONSOLIDATED AUDIT REPORT AND EXCLUDED FROM TAX FOUNDATION FORM 990 REPORTING. GRANT FROM TAX FOUNDATION TO TAX FOUNDATION EUROPE, -516,531. ELIMINATED IN THE CONSOLIDATED AUDIT REPORT AND REPORTED AS A GRANT EXPENSE ON TAX FOUNDATION PART IX, LINE 3. 1 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 532685 EUROPE 0 0 PROGRAM SERVICES TRAVEL 39890 0 0 0 0 0 0 572575 0 572575 EUROPE TRANSLATION AND PUBLICATION OF THE 2025 INTERNATIONAL TAX COMPETITIVENESS INDEX IN TO GERMAN 6225 WIRE 0 EUROPE TRANSLATION AND PUBLICATION OF THE 2025 INTERNATIONAL TAX COMPETITIVENESS INDEX IN TO GREEK 5769 WIRE 0 EUROPE TO SUPPORT THE EFFORTS OF TF EUROPE 516531 WIRE 0 3 0 1 0 0 0 0 0 PART I, LINE 2: TAX FOUNDATION IDENTIFIES POTENTIAL GRANTEES AND CONDUCTS INTERVIEWS OF THOSE POTENTIAL GRANTEES TO ASSESS CAPACITY FOR PERFORMING A PROJECT. TAX FOUNDATION THEN OUTLINES A TIMELINE FOR PROJECT COMPLETION AND REQUESTS A LINE ITEM BUDGET FOR THE PROJECT AND AN INTERNAL REVIEW OF THE POTENTIAL GRANTEE'S BUDGET IS THEN PERFORMED. AFTER INTERNAL APPROVAL, A GRANT IS AWARDED. A CHECK-IN INTERVIEW IS PERFORMED WITH THE GRANTEE PRIOR TO COMPLETION OF THE PROJECT. TAX FOUNDATION REVIEWS OUTPUT FROM THE PROJECT INCLUDING COMPLETION OF PROJECT DELIVERABLES, RELATED EVENTS, MEDIA IMPACT, AND POTENTIAL FOLLOW-UP OPPORTUNITIES. LASTLY, A POST-PROJECT INTERVIEW IS PERFORMED WITH THE GRANTEE TO ENSURE THAT ALL WORK WAS COMPLETED AND PERFORMANCE METRICS WERE APPROPRIATELY REPORTED. X X X X X 1 DAVIDSON & CO 216 W PALL MALL ST WINCHESTER VA 22601 DIRECT MAIL 0 232108 133379 98729 OPTIMIZE CONSULTING PO BOX 660121 AUSTIN TX 78766 DIGITAL FUNDRAISING 0 10000 29428 -19428 242108 162807 79301 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY TAX PROM ANNUAL DINNER 1189067 662336 526731 58000 188700 222076 1189067 662336 526731 58000 188700 222076 468776 57955 X X 0 0 0 0 0 0 0 1 0 DANIEL BUNN PRESIDENT & CEO AND BOARD SECRETARY 262681 0 100000 0 0 0 14597 0 31268 0 408546 0 0 0 WILLIAM MCBRIDE CHIEF ECONOMIST 205610 0 7000 0 0 0 10548 0 13907 0 237065 0 0 0 ALAN COLE SENIOR ECONOMIST 164994 0 3500 0 0 0 8656 0 9143 0 186293 0 0 0 WHITNEY EVANS DIRECTOR OF DEVELOPMENT 150782 0 7500 0 0 0 8371 0 18913 0 185566 0 0 0 COLBY PASTRE VP OF MARKETING & COMMUNICATIONS 162099 0 7000 0 0 0 8452 0 1054 0 178605 0 0 0 JARED WALCZAK VP OF STATE POLICY 160129 0 4000 0 0 0 7874 0 1045 0 173048 0 0 0 PART I, LINE 7 PERFORMANCE-BASED BONUS COMPENSATION IS REPORTED IN PART II, COLUMN (B)(II). X 9 78335 FMV X GALA - WINE 4 22032 FMV 0 0 0 0 PART I, COLUMN (B): THIS COLUMN REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS FOR A CHANGE IN TERM LIMITS PROVISION. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL 990 IS REVIEWED BY THE ACCOUNTING PERSONNEL AND THE PRESIDENT OF THE TAX FOUNDATION BEFORE BEING SIGNED BY THE PRESIDENT. A COPY OF THE 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS ELECTRONICALLY PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C AS A GENERAL POLICY MATTER THE TAX FOUNDATION DOES NOT PERMIT MEMBERS OF THE BOARD OF DIRECTORS TO ENTER INTO FINANCIAL ARRANGEMENTS, PROVIDE SERVICES, OR OTHERWISE BE COMPENSATED IN ANY MANNER, INCLUDING ANY COMPANY IN WHICH SUCH BOARD MEMBER MAY BE ASSOCIATED. BIANNUALLY, ALL OFFICERS AND MEMBERS OF THE BOARD OF DIRECTORS MUST REVIEW AND SIGN A CONFLICT OF INTEREST POLICY STATEMENT. THE MONITORING OF COMPLIANCE IS HANDLED INFORMALLY AT REGULARLY SCHEDULES BOARD MEETINGS. FOR EMPLOYEES, THE CONFLICT OF INTEREST POLICY IS CONTAINED WITHIN THEIR EMPLOYEE MANUAL. THEY SIGN THE MANUAL WHEN THEY ARE HIRED OR WHEN CHANGES ARE MADE TO THE MANUAL. FORM 990, PART VI, SECTION B, LINE 15A THE TAX FOUNDATION PARTICIPATES IN THE ANNUAL THINK TANK COMPENSATION SURVEY WHICH COLLECTS COMPENSATION AND BENEFITS DATA RELEVANT TO THINK TANKS AND OTHER RESEARCH ORGANIZATIONS IN THE UNITED STATES THAT CONDUCT RESEARCH IN THE PUBLIC POLICY, FOREIGN POLICY, AND INTERNATIONAL RELATIONS ARENAS. THE BOARD OF DIRECTORS UTILIZES ITS EXPERIENCE AND EXPERTISE IN CONJUNCTION WITH THE SURVEY RESULTS IN DETERMINING THE APPROPRIATE SALARY LEVEL ANNUALLY FOR THE PRESIDENT. THE CHAIRPERSON OF THE BOARD OF DIRECTORS COMMUNICATES IN WRITING THE SALARY APPROVED BY THE BOARD TO THE APPROPRIATE ACCOUNTING AND HUMAN RESOURCES PERSONNEL IN DETERMINING THE APPROPRIATE SALARY LEVEL FOR THE PRESIDENT. THE LAST TIME THIS WAS DONE WAS IN NOVEMBER 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES GOVERNING DOCUMENTS, THE FEDERAL FORM 990, AND APPLICATION FOR EXEMPTION (FEDERAL FORM 1023) TO INTEREST PARTIES UPON REQUEST. COPIES OF THE AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE ON THE WEBSITE. THE ORGANIZATION HAS NOT BEEN ASKED TO AND CURRENTLY DOES NOT HAVE A POLICY PROVIDING A COPY OF THE CONFLICT OF INTEREST POLICY. TAX FOUNDATION EUROPE RUE DARLON 40 BRUSSELS BE 1000 TO PROVIDE EUROPEAN AUDIENCES WITH POLICY ANALYSIS AND RESEARCH BE 501(C)(3) LINE 7 TAX FOUNDATION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TAX FOUNDATION EUROPE B 516531 FMV