2025-02-13T16:58:53-06:00 2024-09-30 951777440 GREEN HASSON & JANKS LLP 700 S FLOWER STREET SUITE 3300 LOS ANGELES CA 90017 990 2023-10-01 953298239 THE REASON FOUNDATION REAS 3107408579 5737 MESMER AVENUE LOS ANGELES CA 90230 DAVID NOTT PRESIDENT & CEO 3107408579 2025-02-13 1 1 LIZBETH G NEVAREZ P01399868 3108731600 2025-02-13 2023 2025-03-06 01:10:19Z DAVID NOTT 5737 MESMER AVENUE LOS ANGELES CA 90230 27029763 0 X WWW.REASON.ORG X 1978 CA ADVANCE A FREE SOCIETY BY DEVELOPING, APPLYING, AND PROMOTING LIBERTARIAN PRINCIPLES. 21 19 100 21 83619 0 13818095 21346436 1003629 1196995 514953 636234 120270 121150 15456947 23300815 355602 360000 0 0 10529882 12206151 0 0 1914148 6622003 7297389 17507487 19863540 -2050540 3437275 19398270 25642938 5953024 6276160 13445246 19366778 X REASON FOUNDATION ADVANCES A FREE SOCIETY BY DEVELOPING, APPLYING, AND PROMOTING LIBERTARIAN PRINCIPLES, INCLUDING INDIVIDUAL LIBERTY, FREE MARKETS, AND THE RULE OF LAW. WE USE JOURNALISM AND PUBLIC POLICY RESEARCH TO INFLUENCE THE FRAMEWORKS AND ACTIONS OF POLICYMAKERS, JOURNALISTS, AND OPINION LEADERS. 0 0 6721606 721140 PROMOTING FREE MINDS AND FREE MARKETS SINCE 1968- 11 ISSUES PUBLISHED ONLINE AND IN PRINT- MORE THAN 1,500 ONLINE EXCLUSIVE ARTICLES - 52,000 PAID/REQUESTED COPIES - AVERAGE OF 3.6 MILLION USER VISITS PER MONTH AT REASON.COM - SPECIALIZED ONLINE NEWSLETTERS ON GOVERNMENT OVERREACH, SURFACE TRANSPORTATION, AVIATION, EDUCATION FUNDING, MEDIA, AND BREAKING NEWS; AVERAGE OF 9.2 MILLION REASON TV VIDEO VIEWS PER MONTH 6645644 360000 475855 REASON WORKS WITH MOTIVATED POLICYMAKERS AND OTHER STAKEHOLDERS TO DEVELOP AND IMPLEMENT MARKET-BASED REFORMS THAT ARE A MODEL FOR REFORM-MINDED POLICYMAKERS AT ALL LEVELS OF GOVERNMENT. OUR PENSION INTEGRITY PROJECT EDUCATES POLICYMAKERS AND TAXPAYERS ON PENSION REFORM. WE PRODUCED FIVE MAJOR TECHNICAL ANALYSES THAT FOCUS ON THE SOLVENCY OF PUBLIC EMPLOYEE RETIREMENT SYSTEMS IN ARIZONA, NORTH CAROLINA, NEW MEXICO, MISSISSIPPI, AND ARKANSAS, AS WELL AS POLICY BRIEFS THAT ADDRESS REDUCED PUBLIC SAFETY BUDGETS, VOLATILE INVESTMENT RETURNS, AND THE IMPACT OF COVID-19 ON PUBLIC PENSIONS. WE EDUCATED LEGISLATORS IN THOSE STATES VIA STUDIES, DIRECT OUTREACH, AND MORE THAN 70 TOPICAL COMMENTARIES. DRAWING ON DECADES OF RESEARCH ON THE BENEFITS OF SCHOOL CHOICE, REASON'S EDUCATION TEAM IS A LEADING VOICE IN PROMOTING NEW MODELS SUCH AS MICROSCHOOLS, ONLINE CHARTERS, BACKPACK FUNDING, AND OTHER OPTIONS THAT ENCOURAGE STUDENT ACHIEVEMENT AND ADVANCE THE FREEDOM TO INNOVATE IN EDUCATION. WE ARE ADVISING POLICYMAKERS AND ALLIES IN MORE THAN 20 STATES ON OPEN ENROLLMENT, SCHOOL FINANCE. OUR TRANSPORTATION TEAM IS ASSESSING THE CHANGES THAT THE PANDEMIC HAS MADE IN TRANSPORTATION USAGE, CALLING FOR GREATER DECENTRALIZATION AND A REEVALUATION OF HEAVILY SUBSIDIZED TRANSIT PROJECTS. REASON'S DRUG POLICY TEAM IS HELPING STATES BETTER UNDERSTAND THE CONSEQUENCES OF REGULATING LEGAL CANNABIS AND PSYCHEDELICS MARKETS AND PROVIDING SUPPORT TO POLICYMAKERS SEEKING TO FIX THE CHALLENGES OF LEGALIZATION. 3289158 "PROMOTING FREE MINDS AND FREE MARKETS THROUGH ONLINE VIDEO JOURNALISM.- 696 VIDEOS PRODUCED- AVERAGE OF 9,188,000 VIDEOS PLAYED EACH MONTHPODCASTSREASON PRODUCES MULTIPLE PODCASTS, INCLUDING THE REASON ROUNDTABLE, A WEEKLY DISCUSSION OF THE WEEK'S BIGGEST STORIES AND THEIR CONNECTION TO THE IDEAS OF FREE MINDS AND FREE MARKETS; THE REASON INTERVIEW WITH NICK GILLESPIE, A WEEKLY CONVERSATION WITH INNOVATIVE AND INTERESTING THINKERS FROM A VARIETY OF DISCIPLINES; JUST ASKING QUESTIONS, WHICH INTERVIEWS NEWSMAKERS ON TIMELY TOPICS; FREE MEDIA, WHICH EXAMINES MEDIA BIAS; AND THE MONTHLY SOHO FORUM DEBATES, FEATURING PUBLIC INTELLECTUALS FACING OFF OVER CONTROVERSIAL ISSUES. THE BEST OF REASON MAGAZINE USES AI TO SIMULATE EDITOR-IN-CHIEF KATHERINE MANGU-WARD READING A WEEKLY SELECTION FROM REASON. - AVERAGE OF 596,000 DOWNLOADS PER MONTH 620368 REASON FOUNDATION PUBLISHES RESEARCH AND JOURNALISM AND ENGAGES IN EDUCATIONAL OUTREACH FROM A LIBERTARIAN PERSPECTIVE TO POLICYMAKERS, RELEVANT STAKEHOLDERS, AND THE GENERAL PUBLIC.- 23,000 ARTICLES CITING REASON EXPERTS- 2,800 MEDIA APPEARANCES BY REASON EXPERTS- 61 LEGISLATIVE TESTIMONIES- 30 POLICY STUDIES- 220 POLICY COMMENTARIES AND OP-EDS- 11 SURFACE TRANSPORTATION INNOVATIONS NEWSLETTERS & AIR SECURITY NEWSLETTERS- 11 AIR TRAFFIC CONTROL NEWSLETTERS- 12 PENSION REFORM NEWSLETTERS- 12 FUNDING EDUCATION OPPORTUNITY NEWSLETTERS- 4 REASON REPORT DONOR NEWSLETTERSR 620368 17276776 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 86 0 1 100 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA AR FL GA HI IL KS KY ME MD MA MI MN MS NH NM NY NC ND OK OR PA RI SC TN UT VA WV WI X X JONATHAN GRAFF 3103912245 5737 MESMER AVENUE LOS ANGELES CA 90230 DAVID NOTT PRESIDENT, CEO 40.00 0.00 X X 418617 0 112965 ROBERT POOLE FOUNDER, DIR OF TRANSPORTATION POLICY 40.00 0.00 X X 235000 0 360 NICHOLAS GILLESPIE EDITOR AT LARGE 40.00 0.00 X 234517 0 7709 ADRIAN T MOORE VICE PRESIDENT POLICY 40.00 0.00 X 232056 0 13518 JONATHAN GRAFF CHIEF FINANCIAL OFFICER 40.00 0.00 X 224322 0 18162 LEONARD GILROY VP GOVERNMENT REFORM 40.00 0.00 X 221540 0 7936 KATHERINE MANGU-WARD VP/EDITOR-IN-CHIEF 40.00 0.00 X 219666 0 18162 MICHAEL ALISSI VP OPERATIONS 40.00 0.00 X 202086 0 18143 JACQUELINE PYKE DIRECTOR OF DEVELOPMENT 40.00 0.00 X 162167 0 319 AARON STEINBERG MARKETING DIRECTOR 40.00 0.00 X 154215 0 319 CARIN MANN DIR OF DONOR COMMUNICATIONS 40.00 0.00 X 147784 0 7874 JAMES EPSTEIN EXECUTIVE EDITOR 40.00 0.00 X 147209 0 336 GEORGE F OHRSTROM BOARD CHAIR 1.00 0.00 X X 0 0 0 THEODORE BARNETT TRUSTEE 1.00 0.00 X 0 0 0 THOMAS E BEACH TRUSTEE 1.00 0.00 X 0 0 0 BARON BOND TRUSTEE 1.00 0.00 X 0 0 0 DREW A CAREY TRUSTEE (LEFT 7/2024) 1.00 0.00 X 0 0 0 REBECCA DUNN TRUSTEE 1.00 0.00 X 0 0 0 LINDA EDWARDS TRUSTEE 1.00 0.00 X 0 0 0 PETER FARRELL TRUSTEE 1.00 0.00 X 0 0 0 DEBBI GIBBS TRUSTEE 1.00 0.00 X 0 0 0 C BOYDEN GRAY TRUSTEE (LEFT 6/2024) 1.00 0.00 X 0 0 0 THOMAS W HAZLETT TRUSTEE 1.00 0.00 X 0 0 0 BRIAN HOOKS TRUSTEE 1.00 0.00 X 0 0 0 JAMES D JAMESON TRUSTEE 1.00 0.00 X 0 0 0 MANUEL S KLAUSNER TRUSTEE 1.00 0.00 X 0 0 0 JAMES LINTOTT TRUSTEE 1.00 0.00 X 0 0 0 TRAVIS MAY TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN MODZELEWSKI TRUSTEE 1.00 0.00 X 0 0 0 CHRIS J RUFER TRUSTEE 1.00 0.00 X 0 0 0 RAYMOND STATA TRUSTEE 1.00 0.00 X 0 0 0 RICHARD A WALLACE TRUSTEE (LEFT 6/2024) 1.00 0.00 X 0 0 0 KERRY WELSH TRUSTEE 1.00 0.00 X 0 0 0 FRED M YOUNG JR TRUSTEE 1.00 0.00 X 0 0 0 2599179 0 205803 28 0 1 0 THE TERRY GROUP 130 EAST RANDOLPH STREET STE 2810 CHICAGO IL 60601 ACTUARIAL MODELING 165166 SKY FILMS 45 TEAL ROAD AVERIL PARK NY 12018 FILM PRODUCTION 153346 WASHOE DOUGLAS 10743 EDGESTONE AVENUE LAS VEGAS NV 89166 RESEARCH MANAGEMENT 145185 IRON LIGHT 300 S RIVERSIDE PLAZA SUITE 1625 CHICAGO IL 60606 MARKETING MANAGEMENT 131500 STARLING 5133 HARDING PIKE B-10 NASHVILLE TN 37205 WEBSITE CONSULTING 119880 7 21346436 560282 21346436 SUBSCRIPTION SALES 513120 721140 721140 CONFERENCE REVENUE 900003 475855 475855 1196995 545759 545759 3819423 3728948 90475 90475 90475 ADVERTISING INCOME 541860 82661 82661 OTHER INCOME 900003 28166 28166 MAILING LIST RENTAL 541860 10323 958 9365 121150 23300815 1196995 83619 673765 X 360000 360000 2331123 2016436 90369 224318 7965083 6921553 313280 730250 260422 218278 9103 33041 115063 96442 4022 14599 1534460 1228327 79195 226938 76383 76383 34200 34200 2706445 2679141 339 26965 412579 401414 616 10549 290869 195848 9741 85280 285257 278955 1586 4716 430069 366539 24947 38583 682734 461707 10504 210523 247252 202954 325 43973 62708 54493 2466 5749 121040 101049 9330 10661 MAGAZINE PRINTING AND D 705655 705336 319 FOUNDATION-HOSTED EVENT 671156 524769 146387 FISCAL SPONSORSHIP 250082 250082 DUES & SUBSCRIPTIONS 168219 166691 10 1518 152741 46762 6200 99779 19863540 17276776 672616 1914148 981017 1604795 131867 8248 395000 2106433 753235 236220 3630560 756748 2925363 2873812 11009458 15865691 2929306 2695142 273024 252597 19398270 25642938 1471332 1649431 328490 244081 4153202 4382648 5953024 6276160 X 12796314 17087490 648932 2279288 13445246 19366778 19398270 25642938 3437275 2484257 0 X 0 1 X 1 0 X 15019750 13980606 13798378 13818095 21346436 77963265 15019750 13980606 13798378 13818095 21346436 77963265 9063149 68900116 227918 268961 181294 355271 545759 1579203 7225 48930 14422 16618 37531 124726 79667194 5214474 0.86480 0.78870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 17949392 17949392 1000000 250000 0 0 758755 826040 948554 1000000 3533349 5300024 59600 85653 68816 214069 189689 206510 237139 250000 883338 1325007 51279 0 0 51279 51279 51279 81703 30424 51279 65305 30424 14026 81703 55571 14025 4291 65305 0.00000 1.00000 0.00000 0 0 1908473 1908473 1018670 431643 587027 255574 22606 232968 447843 302499 145344 2873812 DEFERRED COMPENSATION 1492512 OPERATING LEASE LIABILITY 2890136 4382648 X 25849575 2484257 64503 2548760 23300815 0 23300815 19928043 64503 64503 19863540 0 19863540 PART V, LINE 4: THE ENDOWMENT FUND WILL BE USED TO SUPPORT OPERATIONS OF THE ORGANIZATION. PART X, LINE 2: IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD'S (FASB'S) ACCOUNTING STANDARDS CODIFICATION TOPIC NO. 740, UNCERTAINTY IN INCOME TAXES, THE FOUNDATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED SEPTEMBER 30, 2024, THE FOUNDATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MIGHT HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. 1 EQUABLE 2807 JACKSON AVE LONG ISLAND CITY NY 11101 823988188 501(C)(3) 360000 0 PENSION INTEGRITY PROJECT 1 0 PART I, LINE 2: EQUABLE IS A SUBAWARDEE AS SPECIFIED IN OUR GRANT AGREEMENT WITH THE BILL AND MELINDA GATES FOUNDATION. THE SUBAWARDEE (EQUABLE) FREQUENTLY COORDINATES AND DOES JOINT WORK WITH REASON ON PROJECTS RELATED ON PUBLIC SECTOR DEBT. EQUABLE'S SCOPE OF WORK WILL LEVERAGE THEIR COMPARATIVE ADVANTAGE RELATED TO EDUCATION RESOURCE AND STAKEHOLDER ENGAGEMENT WHILE REASON'S SHARE OF THE "OFFICE HOURS" WORK WILL LEAD INTO OUR COMPARATIVE ADVANTAGE IN TECHNICAL ANALYSIS AND ENGAGING STATE LEADERS AND STAKEHOLDERS TO MOTIVATE CHANGE. X X X X 0 1 0 0 0 0 0 1 0 DAVID NOTT PRESIDENT, CEO 343617 0 75000 0 0 0 105000 0 7965 0 531582 0 0 0 ROBERT POOLE FOUNDER, DIR OF TRANSPORTATION POLIC 215000 0 20000 0 0 0 0 0 360 0 235360 0 0 0 NICHOLAS GILLESPIE EDITOR AT LARGE 214517 0 20000 0 0 0 0 0 7709 0 242226 0 0 0 ADRIAN T MOORE VICE PRESIDENT POLICY 177056 0 55000 0 0 0 0 0 13518 0 245574 0 0 0 JONATHAN GRAFF CHIEF FINANCIAL OFFICER 169322 0 55000 0 0 0 0 0 18162 0 242484 0 0 0 LEONARD GILROY VP GOVERNMENT REFORM 161540 0 60000 0 0 0 0 0 7936 0 229476 0 0 0 KATHERINE MANGU-WARD VP/EDITOR-IN-CHIEF 179666 0 40000 0 0 0 0 0 18162 0 237828 0 0 0 MICHAEL ALISSI VP OPERATIONS 152086 0 50000 0 0 0 0 0 18143 0 220229 0 0 0 JACQUELINE PYKE DIRECTOR OF DEVELOPMENT 142167 0 20000 0 0 0 0 0 319 0 162486 0 0 0 AARON STEINBERG MARKETING DIRECTOR 154215 0 0 0 0 0 0 0 319 0 154534 0 0 0 CARIN MANN DIR OF DONOR COMMUNICATIONS 129784 0 18000 0 0 0 0 0 7874 0 155658 0 0 0 PART I, LINE 4B DAVID NOTT, PRESIDENT AND CEO, PARTICIPATES IN A NON-QUALIFIED RETIREMENT PLAN. DURING THE YEAR ENDED SEPTEMBER 30, 2024, THE FOUNDATION DEPOSITED $105,000 INTO THE 457(F) PLAN. PART I, LINE 7 OFFICERS BONUSES ARE DETERMINED BY THE FINANCE COMMITTEE AS PART OF THE TOTAL COMPENSATION REVIEW THAT THEY DO BY REVIEWING A REPORT OF 990S FROM A SELECT GROUP OF OTHER CHARITIES. TERI MOORE SPOUSE OF OFFICER 17433 EDITORIAL SERVICES 0 X 13 505974 FMV X HOSTED EVENTS 3 51407 DONATED VALUE X CRYPTOCURRENCY 3 2901 DONATED VALUE 0 0 0 PART I, COLUMN (B): NONCASH CONTRIBUTIONS ARE LISTED BY TOTAL NUMBER OF DONOR CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING WITH THE IRS THE DRAFT 990 WILL BE EMAILED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW, FEEDBACK WILL BE PROVIDED TO THE CFO. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND OFFICERS OF THE FOUNDATION WILL COMPLETE A FORM TO CERTIFY THAT THERE ARE NO EXISTING CONFLICTS. IF THERE ARE ANY CHANGES TO THAT STATUS THEY WILL COMPLETE AND SUBMIT ANOTHER FORM. FORM 990, PART VI, SECTION B, LINE 15 COMPARABLE DATA WAS ASSEMBLED FROM PUBLIC 990 FILINGS FOR SIMILAR POSITIONS WITHIN OTHER NONPROFIT ORGANIZATIONS AND PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES WITH RECOMMENDATIONS FOR COMPENSATION. THE FINANCE COMMITTEE THEN DISCUSSED AND APPROVED COMPENSATION IN AN EXECUTIVE COMMITTEE MEETING OF THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST THE DOCUMENTS WILL BE MAILED OR E-MAILED TO THE REQUESTING PARTY. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 2,156,799. MANAGEMENT AND GENERAL EXPENSES 339. FUNDRAISING EXPENSES 26,965. TOTAL EXPENSES 2,184,103. MARKETING CONTRACTORS: PROGRAM SERVICE EXPENSES 522,342. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 522,342.