Civic Intelligence

Manhattan Institute for Policy Research Inc

EIN 13-2912529 • 501(c)3 • New York, NY

Profile

The manhattan institute is a community of scholars, journalists, activists, and civic leaders dedicated to advancing opportunity, individual liberty, and the rule of law in america and its great cities.

52 Vanderbilt AvenueNew York, NY 10017

manhattan.institute

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

53rd percentile

0.24x

Higher debt load relative to assets than 53% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.42x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

58th percentile

7.4%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

90th percentile

$737,157

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

63rd percentile

8.9%

Faster asset growth than 63% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-5.3%

Faster revenue growth than 23% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$44,258,267

Up $3,622,297 (+8.9%) from 2023

Liabilities

Up

$10,791,041

Up $716,833 (+7.1%) from 2023

Net Assets

Up

$33,467,226

Up $2,905,464 (+9.5%) from 2023

Revenue

Down

$25,502,549

Down $1,421,549 (-5.3%) from 2023

Expenses

Up

$23,607,140

Up $2,024,027 (+9.4%) from 2023

Net Income

Down

$1,895,409

Down $3,445,576 (-65%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2011: $13,234,744Liabilities 2011: $1,121,806Net Assets 2011: $12,112,9382011Assets 2012: $15,816,382Liabilities 2012: $1,061,735Net Assets 2012: $14,754,6472012Assets 2013: $16,549,883Liabilities 2013: $1,232,500Net Assets 2013: $15,317,3832013Assets 2014: $19,847,434Liabilities 2014: $1,176,253Net Assets 2014: $18,671,1812014Assets 2015: $20,727,480Liabilities 2015: $1,390,278Net Assets 2015: $19,337,2022015Assets 2016: $24,962,402Liabilities 2016: $1,625,753Net Assets 2016: $23,336,6492016Assets 2017: $25,072,662Liabilities 2017: $1,419,434Net Assets 2017: $23,653,2282017Assets 2018: $23,314,420Liabilities 2018: $1,406,794Net Assets 2018: $21,907,6262018Assets 2019: $19,118,474Liabilities 2019: $1,553,244Net Assets 2019: $17,565,2302019Assets 2020: $19,948,776Liabilities 2020: $1,306,138Net Assets 2020: $18,642,6382020Assets 2021: $22,398,458Liabilities 2021: $1,272,693Net Assets 2021: $21,125,7652021Assets 2022: $25,642,657Liabilities 2022: $957,901Net Assets 2022: $24,684,7562022Assets 2023: $40,635,970Liabilities 2023: $10,074,208Net Assets 2023: $30,561,7622023Assets 2024: $44,258,267Liabilities 2024: $10,791,041Net Assets 2024: $33,467,2262024

Highlighted filing

2024

Assets$44,258,267
Liabilities$10,791,041
Net Assets$33,467,226

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $11,509,408Expenses 2011: $12,415,804Net Income 2011: -$906,3962011Revenue 2012: $14,873,971Expenses 2012: $13,417,313Net Income 2012: $1,456,6582012Revenue 2013: $13,559,374Expenses 2013: $14,284,045Net Income 2013: -$724,6712013Revenue 2014: $17,210,753Expenses 2014: $13,949,343Net Income 2014: $3,261,4102014Revenue 2015: $17,408,881Expenses 2015: $15,638,756Net Income 2015: $1,770,1252015Revenue 2016: $21,173,430Expenses 2016: $17,858,627Net Income 2016: $3,314,8032016Revenue 2017: $18,491,835Expenses 2017: $18,832,278Net Income 2017: -$340,4432017Revenue 2018: $20,277,506Expenses 2018: $19,691,658Net Income 2018: $585,8482018Revenue 2019: $15,565,468Expenses 2019: $20,159,557Net Income 2019: -$4,594,0892019Revenue 2020: $18,531,014Expenses 2020: $17,381,125Net Income 2020: $1,149,8892020Revenue 2021: $16,694,868Expenses 2021: $15,701,917Net Income 2021: $992,9512021Revenue 2022: $20,278,898Expenses 2022: $17,079,202Net Income 2022: $3,199,6962022Revenue 2023: $26,924,098Expenses 2023: $21,583,113Net Income 2023: $5,340,9852023Revenue 2024: $25,502,549Expenses 2024: $23,607,140Net Income 2024: $1,895,4092024

Highlighted filing

2024

Revenue$25,502,549
Expenses$23,607,140
Net Income$1,895,409

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.3$10.8$33.5$25.5$23.6$1.90
2023Detailed filing. Detailed filing data is available for this year.$40.6$10.1$30.6$26.9$21.6$5.34
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.6$0.96$24.7$20.3$17.1$3.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$1.27$21.1$16.7$15.7$0.99
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.9$1.31$18.6$18.5$17.4$1.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$1.55$17.6$15.6$20.2$4.59
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.3$1.41$21.9$20.3$19.7$0.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.1$1.42$23.7$18.5$18.8$0.34
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$1.63$23.3$21.2$17.9$3.31
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.7$1.39$19.3$17.4$15.6$1.77
2014Detailed filing. Detailed filing data is available for this year.$19.8$1.18$18.7$17.2$13.9$3.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.5$1.23$15.3$13.6$14.3$0.72
2012Summary only. Only limited summary data is available for this year.$15.8$1.06$14.8$14.9$13.4$1.46
2011Summary only. Only limited summary data is available for this year.$13.2$1.12$12.1$11.5$12.4$0.91
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jun 13, 2025
Return Version
2023v6.0
Gross Receipts
$26,155,461
Mission and Program Overview

Mission

The manhattan institute is a think tank, whose mission is to develop and disseminate new ideas that foster greater economic choice and individual responsibility.

SEE PART III, LINE 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$14,765,901$15,781,669▲ $1,015,768
Savings and Temporary Cash Investments$10,153,745$14,525,723▲ $4,371,978
Pledges and Grants Receivable$3,912,411$3,278,249▼ $634,162
Cash and Non-Interest-Bearing Accounts$1,786,143$981,102▼ $805,041
Prepaid Expenses and Deferred Charges$304,868$592,052▲ $287,184
Land, Buildings, and Equipment, Net$500,267$399,547▼ $100,720
Total Assets$40,635,970$44,258,267▲ $3,622,297
Other Assets Total$9,212,635$8,699,925▼ $512,710
Liabilities
Other Liabilities$9,540,106$9,240,027▼ $300,079
Accounts Payable and Accrued Expenses$442,890$1,464,086▲ $1,021,196
Deferred Revenue$91,212$86,928▼ $4,284
Total Liabilities$10,074,208$10,791,041▲ $716,833
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,602,530$27,815,462▲ $2,212,932
Net Assets With Donor Restrictions$4,959,232$5,651,764▲ $692,532
Total Net Assets Fund Balance$30,561,762$33,467,226▲ $2,905,464
Total Liabilities and Net Assets / Fund Balance$40,635,970$44,258,267▲ $3,622,297

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$124,120$1,211,753$1,335,873
Leasehold Improvements$247,212$269,559$516,771
Other Land Buildings$28,215$85,598$113,813
Other Assets Org$8,450,917--
Other Securities$12,550,207--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Reihan SalamPresidentFT$570,827$166,330$737,157
Ilana GolantExecutive Vice PresidentFT$468,521$113,200$581,721
Jason RileySenior FellowFT$378,846$28,970$407,816
Brian Charles AndersonEditor, City JournalFT$286,322$47,472$333,794
Mark Philip MillsSenior FellowFT$300,000$33,748$333,748
Christopher RufoSenior FellowFT$250,000$31,733$281,733
Heather Mac DonaldThomas W Smith FellowFT$250,000$23,422$273,422
Brandon FullerVP, Research & PolicyFT$235,980$17,903$253,883
Jessica RiedlSenior FellowFT$202,605$37,737$240,342
Benjamin Mcdowell BirneyVP, Admin / General CounselFT$191,346$44,742$236,088
Andrew LawVP, DevelopmentFT$172,404$49,692$222,096
Michele Lee JacobVP, Strategy & CommunicationsFT$186,565$27,948$214,513
Yael Levin HungerfordExec Dir, Adam Smith SocietyFT$176,481$21,288$197,769

Highest Paid Contractors

ContractorServicesLocationCompensation
Meridian PrintingcomPublication Printing1538 SOUTH COUNTY TRAIL, East Greenwich, RI 02818$398,977
Christopher Rufo LLCConsulting/marketing Services5114 POINT FOSDICK DR STE F3001, Gig Harbor, WA 98335$318,291
Marcum LLPAccounting Services750 THIRD AVE 11TH FL, New York, NY 10017$243,901
Goodfolk INC Dba Rockstar CodersIt Consultant2519 WHITNEY AVE, Hamden, CT 06518$237,322
Roland FryerFellowship20 LOWELL ST, Cambridge, MA 02138$233,000
Revenue and Support

Revenue Composition

Contributions and Grants
$23,969,727
Program Service Revenue
$103,692
Investment Income
$768,716
Other Revenue
$660,414
All Other Contributions
$20,148,650
Change in Net Assets
$1,895,409

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded854$350,684Fair Market Value
Other Non Cash Contri Table0$100,000Fair Market Value
Total Noncash Contributions854$450,684-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,395,530
Revenue Not Reported on Financial Statements
$107,019
Revenue Not Reported on Form 990
$1,070,055
Total Revenue per Audited Statements
$26,465,585
Total Revenue per Form 990
$25,502,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,194,393
Other Expenses$8,366,757
Total Fundraising Expense$973,589
Grants and Similar Amounts Paid$45,990
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,297,166$886,933$232,852$10,416,951
Current Officers, Directors, Trustees, and Key Employees$1,847,990$513,740$135,230$2,496,960
Fees for Services Other$912,885$204,857$69,598$1,187,340
Conferences and Meetings$1,137,672$17,587$4,622$1,159,881
Occupancy$570,578$284,877$74,859$930,314
Payroll Taxes$734,866$98,473$25,876$859,215
Other Employee Benefits$730,800$88,054$23,133$841,987
Travel$435,565$194,290$168,851$798,706
Information Technology$379,385$186,273$48,948$614,606
Pension Plan Contributions$430,796$117,594$30,890$579,280
Advertising$341,984$164,182$43,143$549,309
Fees for Services Legal$313,147$155,840$40,951$509,938
Office Expenses$307,952$100,644$26,447$435,043
Other Expenses$395,532$14,748$3,859$414,139
Fees for Services Accounting$141,478$173,642$18,562$333,682
Insurance$70,301$35,100$9,222$114,623
Fees for Service Investment Mgmnt Fees-$107,019-$107,019
Depreciation Depletion$61,773$30,842$8,105$100,720
Grants to Domestic Individuals$45,990--$45,990
Royalties$4,695$2,224$584$7,503
Total Functional Expenses$19,226,723$3,406,828$973,589$23,607,140

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,607,140
Total Expenses per Audited Statements$23,560,121
Expenses per Audited Statements$23,500,121
Expenses Not Reported on Financial Statements$107,019
Expenses Not Reported on Form 990$60,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$831,300
Fundraising Direct Expenses$202,376
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Hamilton Event$4,652,377$831,300$5,641$825,659
Total Events$4,652,377$831,300$202,376$628,924
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right-of-use Operating Lease Liability$9,233,089
Right-of-use Finance Lease Liability$6,938
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 was reviewed by the audit committee and a copy of the form 990 was distributed to all board members prior to filing.

Form 990, Part VI, Section B, Line 12C

Trustees review the conflict of interest policy on an annual basis. Senior fellows review the conflict of interest policy on a bi-annual basis.

Form 990, Part VI, Section B, Line 15

The compensation of the president is determined by the chairman and the vice chairman of the board. The president determines the compensation of all other employees.

Form 990, Part VI, Section C, Line 19

The institute's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Manhattan Institute for Policy
EIN
13-2912529
Phone
2125997000
Address
52 VANDERBILT AVENUE, NEW YORK, NY 10017

Signing Officer

Name
Reihan Salam
Title
President
Phone
2125997000
Signed
2025-06-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reihan Salam
Formed
1977
Legal Domicile
Ny
Voting Board Members
28
Independent Board Members
27
Employees
103
Volunteers
95

Preparer

Firm
Councilor Buchanan & Mitchell Pc
Address
7910 WOODMONT AVE STE 500, BETHESDA, MD 20814
Preparer
Julia L Lafferty
Phone
3019860600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The institute's audit committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The institute follows the authoritative guidance relating to accounting for uncertainty in income taxes included in financial accounting standards board accounting standard codification topic income taxes. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition and derecognition of tax positions taken or expected to be taken in a tax return. The institute performed an evaluation of uncertain tax positions for the years ended september 30, 2024 and 2023, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. The institute files an annual form 990, return of organization exempt from income tax, with the internal revenue service (irs). As of september 30, 2024, the institute's form 990 for the years 2021 through 2024 remain eligible for examination by the irs. It is the institute's policy to recognize interest and/or penalties related to uncertain tax positions, if any, as income tax expense. As of september 30, 2024 and 2023, the institute had no accruals for interest and/or penalties.

Raw XML AppendixShowing 400 of 1,097 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01464086
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0SEE PART III, LINE 1
IRS990/AdvertisingGrp/FundraisingAmt043143
IRS990/AdvertisingGrp/ManagementAndGeneralAmt0164182
IRS990/AdvertisingGrp/ProgramServicesAmt0341984
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IRS990/BooksInCareOfDetail/PhoneNum02125997000
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IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
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IRS990/CashNonInterestBearingGrp/EOYAmt0981102
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IRS990/CompensationFromOtherSrcsInd00
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IRS990/CompensationProcessOtherInd01
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IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt017587
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4ROLAND FRYER
IRS990/ContractorCompensationGrp/ServicesDesc0PUBLICATION PRINTING
IRS990/ContractorCompensationGrp/ServicesDesc1CONSULTING/MARKETING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc2ACCOUNTING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3IT CONSULTANT
IRS990/ContractorCompensationGrp/ServicesDesc4FELLOWSHIP
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IRS990/CreditCounselingInd00
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IRS990/CYTotalRevenueAmt025502549
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IRS990/DepreciationDepletionGrp/TotalAmt0100720
IRS990/Desc0RESEARCH, OTHER, AND PUBLICATIONS - THIS PROGRAM'S OBJECTIVE IS TO SUPPORT AND PUBLISH THE WORK OF MI SCHOLARS WHO ARE NOT PART OF ANOTHER POLICY CENTER. IT ALSO COORDINATES THE WORK OF STAFF AND SCHOLARS IN THE OTHER SUBSTANTIVE POLICY CENTERS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
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IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt0103
IRS990/EmploymentTaxReturnsFiledInd01
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IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
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