2017-01-09T10:24:40-06:00 2016-03-31 COHNREZNICK LLP 7501 WISCONSIN AVENUE 400E BETHESDA MD 208146583 990 2015-04-01 237432162 CATO INSTITUTE % VALERIE USHER CATO 2028420200 1000 MASSACHUSETTS AVE NW WASHINGTON DC 200015403 JON HEIMERMAN VP/CAO 2028420200 2017-01-05 true DANIEL O'SHEA P00957510 3016529100 2015 2021-01-29 14:40:06Z PETER GOETTLER 1000 MASSACHUSETTS AVE NW WASHINGTON DC 20001 30451260 false X WWW.CATO.ORG X 1974 KS TO ORIGINATE, DISSEMINATE, AND INCREASE UNDERSTANDING OF PUBLIC POLICIES BASED ON THE PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE. 20 19 263 19 0 34969047 26698458 775021 704032 93318 274369 232461 192434 36069847 27869293 773968 874484 0 0 15045093 16347238 0 0 5299475 12427096 11940392 28246157 29162114 7823690 -1292821 72934328 71182786 2664359 2208095 70269969 68974691 X TO ORIGINATE, DISSEMINATE, AND INCREASE UNDERSTANDING OF PUBLIC POLICIES BASED ON THE PRINCIPLES OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE. false false 1656594 157734 300 CENTER FOR GLOBAL LIBERTY AND PROSPERITY: THE CENTER FOR GLOBAL LIBERTY AND PROSPERITY WAS ESTABLISHED TO PROMOTE A BETTER UNDERSTANDING AROUND THE WORLD OF HOW FREE MARKETS CAN COMBAT SOME OF THE MOST PRESSING PROBLEMS FACED BY DEVELOPING NATIONS. IN PARTICULAR, THE CENTER SEEKS TO ADVANCE POLICIES THAT PROTECT HUMAN RIGHTS, EXTEND THE RANGE OF PERSONAL CHOICE, AND SUPPORT THE CENTRAL ROLE OF ECONOMIC FREEDOM IN ENDING WORLD POVERTY. IN 2015 THEY COLLABORATED WITH THE FRASER INSTITUTE TO PRODUCE THE HUMAN FREEDOM INDEX, THE FIRST-EVER INDEX TO MEASURE FREEDOM AROUND THE GLOBE THAT IS BOTH COMPREHENSIVE AND CONSISTENT WITH A CLASSICAL LIBERAL PERSPECTIVE. HUMANPROGRESS.ORG, ANOTHER PROJECT OF THE CENTER, PROVIDES AN INTERACTIVE RESOURCE FOR RELIABLE DATA ON HOW THE WORLD IS GETTING BETTER, THANKS TO INCREASING PERSONAL AND ECONOMIC LIBERTY. IT IS AN INVALUABLE SOURCE FOR JOURNALISTS, ACADEMICS, CONGRESSIONAL STAFF, AND RESEARCHERS - THE SITE SAW AN INCREASE IN MONTHLY WEB TRAFFIC VISITS OF OVER 1,000 PERCENT IN THE PAST YEAR, WHILE THE SITE'S TWITTER FOLLOWING GREW ROUGHLY 5-FOLD, TO 8.3 THOUSAND FOLLOWERS. 1327756 0 21865 CENTER FOR MONETARY AND FINANCIAL ALTERNATIVES (CMFA): CATOS CMFA SEEKS TO RESTORE THE LOST UNDERSTANDING OF THE FREE MARKETS CAPACITY TO ACHIEVE LASTING FINANCIAL STABILITY AND, BY SO DOING, TO REPEL THE FORCES PRESENTLY FAVORING INCREASED GOVERNMENT CENTRALIZATION AND NATIONALIZATION OF MONEY AND FINANCIAL MARKETS. AFTER JUST ONE FULL YEAR OF OPERATION, CMFA BOASTS AN ARRAY OF HIGHLY RESPECTED SCHOLARS, INCLUDING DIRECTOR GEORGE SELGIN, ONE OF THE FOREMOST AUTHORITIES ON BANKING HISTORY AND MONETARY THEORY, AS WELL AS AN ACADEMIC ADVISORY COUNCIL THAT INCLUDES MANY OF THE WORLDS LEADING MONETARY ECONOMISTS. THE SCHOLARS PRODUCE RIGOROUS RESEARCH ON EVERYTHING FROM THE GOLD STANDARD TO CRYPTOCURRENCIES TO BANK REGULATION, AND REGULARLY DRAW CROWDS OF HUNDREDS OF DISTINGUISHED EXPERTS, HILL STAFFERS, JOURNALISTS, FINANCIAL INDUSTRY MEMBERS, AND MEMBERS OF THE PUBLIC TO THEIR EVENTS. THE INSTITUTES 33RD ANNUAL MONETARY CONFERENCE, FOR EXAMPLE, DREW OVER 200 ATTENDEES AND FEATURED PROMINENT SPEAKERS SUCH AS STANFORD ECONOMIST JOHN B. TAYLOR, ST. LOUIS FEDERAL RESERVE BANK PRESIDENT JAMES BULLARD, RICHMOND FEDERAL RESERVE BANK PRESIDENT JEFFREY LACKER, AND CLAUDIO BORIO OF THE BANK FOR INTERNATIONAL SETTLEMENTS, WHOM THE ECONOMIST HAS CALLED "ONE OF THE WORLD'S MOST PROVOCATIVE AND INTERESTING MONETARY ECONOMISTS." 1129614 0 6800 CENTER FOR CONSTITUTIONAL STUDIES: CATOS CENTER FOR CONSTITUTIONAL STUDIES AND ITS SCHOLARS AIM TO SECURE LIBERTY THROUGH CONSTITUTIONALLY LIMITED GOVERNMENT. THE CENTERS SCHOLARS ADDRESS A WIDE RANGE OF CONSTITUTIONAL AND LEGAL ISSUES, ESPECIALLY BY ENCOURAGING THE JUDICIARY TO NEITHER MAKE NOR IGNORE THE LAW BUT RATHER TO INTERPRET AND APPLY IT THROUGH THE NATURAL RIGHTS TRADITION INHERITED FROM THE FOUNDERS. CATO REMAINS ONE OF THE BIGGEST AND MOST EFFECTIVE FILERS OF AMICUS CURIAE BRIEFS IN THE SUPREME COURT - IN THE 2014-2015 TERM, IT SAW IMPORTANT VICTORIES IN MULTIPLE CASES IN WHICH IT FILED AMICUS BRIEFS, INCLUDING SUCH HIGH-STAKES CASES AS MICHIGAN V. EPA; HORNE V. DEPARTMENT OF AGRICULTURE; AND, OF COURSE, THE VICTORY FOR MARRIAGE RIGHTS IN OBERGEFELL V. HODGES. CATO WAS THE ONLY ORGANIZATION IN THE COUNTRY TO SUPPORT THE CHALLENGES BOTH TO STATE MARRIAGE LAWS IN OBERGEFELL V. HODGES AND THE IRS RULE ON THE AFFORDABLE CARE ACT IN KING V. BURWELL. 1253743 70000 0 DEFENSE AND FOREIGN POLICY STUDIES 989897 0 0 HERBERT A. 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SCHEDULE D, PART X, LINE 2 FIN 48 FINANCIAL STATEMENT DISCLOSURE: Cato has been granted tax-exempt status as a public charity within the meaning of Section 501(c)(3) of the Internal Revenue Code ("IRC"). Although the organization is generally exempt from income tax, Cato is subject to unrelated business income taxes under Section 512 of the IRC, as well as subject to excise tax on excess lobbying expenses. There was no unrelated business income or excess lobbying expenses for the years ended March 31, 2016 and 2015; therefore, no provision for income tax has been recorded in the financial statements. Cato believes it has appropriate support for any tax position taken and, as such, does not have any uncertain tax positions that are material to the financial statements. Cato recognizes interest expense and penalties related to income taxes on uncertain tax positions in management and general expenses on the statements of activities and change in net assets and accounts payable and accrued expenses in the statements of financial position. No interest expense and penalties related to income taxes on uncertain tax positions were recognized for the years ended March 31, 2016 and 2015. Tax years prior to 2012 are no longer subject to examination by the Internal Revenue Service or the tax jurisdictions of Kansas and the District of Columbia. SCHEDULE D, PART XI, LINE 4B Other Revenue Included on Return Not on Books: COST OF GOODS SOLD: (252,896) SCHEDULE D, PART XII, LINE 2D OTHER EXPENSES INCLUDED ON BOOKS NOT ON FORM 990: COST OF GOODS SOLD: 252,896 true Europe (Including Iceland and Greenland) 0 2 Grantmaking 130000 South America 2 Program Services Conferences 3419 South America 2 Grantmaking 35384 Russia and the Newly Independent States Grantmaking 105000 0 6 0 6 273803 273803 Russia and the Newly Independent States PROM LIBERTY 105000 wire N/A N/A 1 0 STIPENDS FOR SENIOR FELLOWS/ADJUNCT SCHOLARS South America 2 35384 wire N/A N/A STIPENDS FOR SENIOR FELLOWS/ADJUNCT SCHOLARS Europe (Including Iceland and Greenland) 2 130000 wire N/A N/A false false false false false false SCHEDULE F, PART I, LINE 2 PROGRAMS ARE SUPERVISED BY PROJECT MANAGERS WHO PROVIDE OVERSIGHT, APPROVE PAYMENTS, AND PROVIDE AN ACCOUNTING OF FUNDS SPENT. true Free To Choose Network 2002 Filmore Avenue Erie PA 16506 521455677 501(c)(3) 280000 N/A N/A documentaries University of Maryland College Park Foundation 4603 Calvert Road College Park MD 20740 522197313 501(C)(3) 15000 n/a n/a Literature Program 2 0 STIPENDS FOR SENIOR FELLOWS/ADJUNCT SCHOLARS 8 309100 N/A N/A SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES PROGRAMS ARE SUPERVISED BY PROJECT MANAGERS WHO PROVIDE OVERSIGHT, APPROVE PAYMENTS, AND PROVIDE AN ACCOUNTING OF FUNDS SPENT. X false false X X X true false false false false false false true false EDWARD H CRANE FORMER PRESIDENT 475000 0 0 0 0 0 0 0 0 0 475000 0 DAVID BOAZ EXECUTIVE VICE PRESIDENT 279501 0 0 0 0 0 10948 0 12537 0 302986 0 JON HEIMERMAN VP/Chief Admin. Officer 205246 0 0 0 0 0 5330 0 22800 0 233376 0 PETER GOETTLER President (beginning 4/15) 370238 0 0 0 0 0 0 0 962 0 371200 0 WILLIAM B LINDSEY VICE PRESIDENT FOR RESEARCH 206876 0 0 0 0 0 8350 0 10537 0 225763 0 ROGER PILON VICE PRESIDENT LEGAL AFFAIRS 184044 0 0 0 0 0 7680 0 25195 0 216919 0 PATRICK MICHAELS DIR., CTR FOR THE STDY OF SCI. 182288 0 0 0 0 0 6946 0 12311 0 201545 0 David Kirby Vice President for Development 167139 0 50000 0 0 0 7314 0 29197 0 253650 0 George Selgin DIR., CTR FOR Fin. Alternative 213150 0 0 0 0 0 0 0 6789 0 219939 0 SCHEDULE J, Part I, LINE 1B WRITTEN POLICY REGARDING REIMBURSEMENT: THE BOARD APPROVED THE PRESIDENT'S HOUSING ALLOWANCE AS PART OF HIS EMPLOYMENT AGREEMENT. THIS ARRANGEMENT ENDED MARCH 31, 2015. SCHEDULE J, Part I, LINE 4A SEVERANCE PAYMENT: Gayllis Ward received a severance payment of $32,500. SCHEDULE J, Part I, LINE 7 Non-fixed payments: Elizabeth Santos received a service award for 5 years of service, and David Kirby received a performance bonus of $50,000. X 65 1700053 FMV DATE OF RECEIPT false true false PART VI, SECTION A, Line 7A MEMBERS, STOCKHOLDERS OR OTHER PERSONS WHO MAY ELECT THE GOVERNING BODY: MEMBERS OF THE BOARD VOTE TO APPROVE AND REMOVE MEMBERS. PART VI, SECTION A, Line 7B DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL: MEMBERS ELECT THE BOARD OF DIRECTORS AND MAY REMOVE DIRECTORS WITH A MAJORITY VOTE. PART VI, SECTION A, Line 11B PROCESS USED TO REVIEW FORM 990: A DRAFT 990 IS PROVIDED TO EACH MEMBER FOR REVIEW AND COMMENT PRIOR TO FINALIZATION. 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. PART VI, SECTION B, Line 15A PROCESS FOR DETERMINING COMPENSATION: INDEPENDENT CONTRACTOR REVIEWS COMPENSATION/BENEFITS. THE BOARD DISCUSSES AND APPROVES EXECUTIVE COMPENSATION/BENEFITS BASED ON RESULTS OF THE INDEPENDENT STUDY. 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. Part XI, Line 9 Other Changes in Net Assets: Loss on Write-off of Pledge ($7,774) Part VI, line 1b John Allison, Director, is considered an independent voting member of the governing body. Part VII, column D reports compensation earned in calendar year 2015 in his role as president, prior to the current fiscal year.