2020-10-23T08:54:28-05:00 2020-03-31 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2019-04-01 237432162 CATO INSTITUTE % MARISSA DELGADO CATO 2028420200 1000 MASSACHUSETTS AVE NW WASHINGTON DC 20001 MARISSA DELGADO VP, Finance & CFO 2028420200 2020-10-20 true Marc Berger P01871563 7038930600 108.18.98.230 54621820202975000001 2020-10-23 P 368DAC767300C917309A1065AAAF2394A888D225 651D255A1A915A1FDEE8CC96D476D00223E3EE33 2019 2021-01-29 14:40:06Z MARISSA DELGADO 1000 MASSACHUSETTS AVE NW WASHINGTON DC 20001 32721086 false X WWW.CATO.ORG X 1974 KS TO PROMOTE THE PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE. 16 15 296 15 0 28389412 30481359 386600 557948 987748 1187632 497358 279589 30261118 32506528 950748 872082 0 0 18247842 17928029 76112 391742 3911063 11326719 11949727 30601421 31141580 -340303 1364948 84375877 85585362 2953938 4194071 81421939 81391291 TO ORIGINATE, DISSEMINATE, AND INCREASE UNDERSTANDING OF PUBLIC POLICIES BASED ON THE PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE. false false 18128920 747270 0 PUBLIC POLICY & RESEARCH - Our vision is to create free, open, and civil societies founded on libertarian principles. To that end, our scholars and analysts conduct and publish independent, nonpartisan research on a wide range of policy issues across more than 14 research areas, including law and civil liberties, tax and budget policy, regulatory studies, health care and welfare, education, finance, banking and monetary policy, foreign policy and national security, trade policy, and international development. 4450480 124812 677935 EDUCATIONAL PROGRAM - Cato hosts public events and conferences in order to engage diverse audiences on our research and policy prescriptions, and also proactively invests in the next generation through its student programs. These include our Cato Internship Program and John Russell Paslaqua Intern Seminar Series, our weekend Liberty Seminars for students, and our Student Briefing Program, which teaches high school and college students from around the country about Americas founding principles of individual liberty, limited government and free enterprise. 2389972 0 0 COMMUNICATIONS & EXTERNAL AFFAIRS - CATO SCHOLARS ENGAGE AND EDUCATE BROAD AUDIENCES ON OUR POLICY PRESCRIPTIONS BY DISSEMINATION OF OUR RESEARCH THROUGH SPEAKING ENGAGEMENTS, BRIEFINGS, OP-EDS AND BLOGS, PODCASTS, TELEVISION AND RADIO APPEARANCES, AND OUR WEBSITES, WHICH RECEIVE OVER 15 MILLION VISITS ANNUALLY. 24969372 true true false false false false false false false true true false false false true true true false false true true true true true false false false true true true false false false false false false false false true false false false false false false false false true 250 0 true 296 true false false false false false true true false false false false false X 16 15 false false true false false false false true true false false true true true true true true true true false AL AR CA CT FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OK OR PA RI SC TN UT VA WV WI X X MARISSA DELGADO 2028420200 1000 MASSACHUSETTS AVE NW WASHINGTON DC 20001 X Peter Goettler President & CEO 40.0 0.0 X X 515326 0 31719 David Boaz Executive VP 40.0 0.0 X 317477 0 27836 Stephen Kurtz VP, Chief Digital Officer 40.0 0.0 X 266040 0 17086 Lesley Albanese VP, Initiatives 40.0 0.0 X 235500 0 19119 George Selgin Dir. 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No interest expense and penalties related to income taxes on uncertain tax positions were recognized for the years ended March 31, 2020 and 2019. Cato files income tax returns in the U.S federal jurisdiction. In accordance with FASB ASC 740 Income Taxes, Cato recognizes tax liabilities for uncertain tax positions when it is more likely than not that a tax position will not be sustained upon examination and settlement with various taxing authorities. Liabilities for uncertain tax positions are measured based upon the largest amount of benefit that is greater than 50% likely of being realized upon settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. With a few exceptions, Cato is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before fiscal year 2017. 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FORM 990, PART VI, SECTION B, LINE 11B: PROCESS USED TO REVIEW FORM 990: A DRAFT 990 IS PROVIDED TO EACH MEMBER FOR REVIEW AND COMMENT PRIOR TO FINALIZATION. FORM 990, PART VI, SECTION B, LINE 12C: Monitoring and enforcement of compliance with conflict of interest policy: Cato reviews conflict of interest disclosures. If a potential conflict of interest arises, the director, officer or key employee with the conflict is required to correct the situation or either step down from the board or face termination from employment. FORM 990, PART VI, SECTION B, LINE 15A & 15B: Process for determining compensation: An independent contractor reviews the compensation/benefits of the President and executive VPs. The board then discusses and approves executive compensation/benefits based on results of the independent study. FORM 990, PART VI, SECTION C, LINE 19: How the organization makes organizing documents available to the public: Cato's bylaws, articles of incorporation, and conflict of interest policy are available to anyone who requests them. Further, Cato has always complied, and will continue to comply, with the mandate that form 990 be made publicly available. FORM 990, PART XII, LINE 2C: Cato issued RFP for new audit & tax preparers in 2019. Four firms provided proposals that were evaluated by Audit Committee; two firms were selected for interviews with management. BDO was selected in Jan 2020.