Civic Intelligence

The Heartland Institute

EIN 36-3309812 • 501(c)3 • Arlington Heights, IL

Profile

To discover, develop, and promote free-market solutions to social and economic problems, public policy issues, in print and online.

3939 North Wilke RoadArlington Heights, IL 60004

www.heartland.org

Siviq Scores

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

Liabilities / Assets

76th percentile

0.34x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.11x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

21st percentile

-11%

Higher net margin than 21% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

95th percentile

$333,590

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

9th percentile

-22%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-18%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,074,871

Down $308,987 (-22%) from 2023

Liabilities

Up

$370,063

Up $44,470 (+14%) from 2023

Net Assets

Down

$704,808

Down $353,457 (-33%) from 2023

Revenue

Down

$3,350,282

Down $734,662 (-18%) from 2023

Expenses

Down

$3,703,739

Down $357,522 (-8.8%) from 2023

Net Income

Down

-$353,457

Down $377,140 (-1592%) from 2023

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $1,769,776Liabilities 2020: $159,348Net Assets 2020: $1,610,4282020Assets 2021: $1,778,407Liabilities 2021: $220,886Net Assets 2021: $1,557,5212021Assets 2022: $1,389,619Liabilities 2022: $272,331Net Assets 2022: $1,117,2882022Assets 2023: $1,383,858Liabilities 2023: $325,593Net Assets 2023: $1,058,2652023Assets 2024: $1,074,871Liabilities 2024: $370,063Net Assets 2024: $704,8082024

Highlighted filing

2024

Assets$1,074,871
Liabilities$370,063
Net Assets$704,808

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $3,779,901Expenses 2020: $3,593,087Net Income 2020: $186,8142020Revenue 2021: $4,106,509Expenses 2021: $4,159,416Net Income 2021: -$52,9072021Revenue 2022: $3,852,132Expenses 2022: $4,309,935Net Income 2022: -$457,8032022Revenue 2023: $4,084,944Expenses 2023: $4,061,261Net Income 2023: $23,6832023Revenue 2024: $3,350,282Expenses 2024: $3,703,739Net Income 2024: -$353,4572024

Highlighted filing

2024

Revenue$3,350,282
Expenses$3,703,739
Net Income-$353,457

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 28, 2025
Return Version
2024v5.1
Gross Receipts
$3,350,282
Mission and Program Overview

Mission

Research and writing on public policy issues.

To discover, develop, and promote free-market solutions to social and economic problems

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$824,760$796,451▼ $28,309
Cash and Non-Interest-Bearing Accounts$465,415$230,016▼ $235,399
Accounts Receivable$2,500$2,500→ $0
Prepaid Expenses and Deferred Charges$35,356$277▼ $35,079
Savings and Temporary Cash Investments$3,506$80▼ $3,426
Total Assets$1,383,858$1,074,871▼ $308,987
Other Assets Total$52,321$45,547▼ $6,774
Liabilities
Accounts Payable and Accrued Expenses$300,941$339,849▲ $38,908
Other Liabilities$24,652$30,214▲ $5,562
Total Liabilities$325,593$370,063▲ $44,470
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,058,265$704,808▼ $353,457
Total Net Assets Fund Balance$1,058,265$704,808▼ $353,457
Total Liabilities and Net Assets / Fund Balance$1,383,858$1,074,871▼ $308,987

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$715,539$237,004$952,543
Equipment$0$235,378$235,378
Land$65,364-$65,364
Other Land Buildings$15,548$42,707$58,255
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James TaylorPresidentFT$333,590$333,590
James LakelyVice PresidentFT$210,861$210,861
Samuel KarnickDirector of PublicationsFT$108,308$108,308

Board Members and Trustees

NameTitle
Joseph MorrisChairman
Jere FabickVice Chairman/secretary
Brian SingerMember
Joe ArmendarizMember
Noah RobinsonMember
Paul FisherMember
Robert BufordMember
Steve MilloyMember
William ArmisteadMember/finance
Revenue and Support

Revenue Composition

Contributions and Grants
$3,322,323
Program Service Revenue
$2,905
Investment Income
$9,951
Other Revenue
$15,103
All Other Contributions
$3,322,323
Change in Net Assets
$-353,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,350,282
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,350,282
Total Revenue per Form 990
$3,350,282
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,374,043
Other Expenses$1,329,696
Total Fundraising Expense$657,924
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$871,188$211,400$198,662$1,281,250
Current Officers, Directors, Trustees, and Key Employees$417,712$190,571$126,402$734,685
Other Employee Benefits$124,922$40,452$47,545$212,919
Office Expenses$135,260$29,713$5,277$170,250
Occupancy-$160,442-$160,442
Payroll Taxes$96,865$25,967$22,357$145,189
Conferences and Meetings$1,019$515$125,516$127,050
Travel$20,131$864$59,821$80,816
Advertising$33,416$35,355$74$68,845
Fees for Services Accounting$23,240$9,933$5,456$38,629
Depreciation Depletion-$28,309-$28,309
Other Expenses$77,816$16,786$2,738$16,786
Information Technology$514$13,751$1,027$15,292
All Other Expenses$830$115$1,493$2,438
Total Functional Expenses$2,091,583$954,232$657,924$3,703,739

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,703,739
Total Expenses per Audited Statements$3,703,739
Total Expenses per Form 990$3,703,739
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$30,214
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 accounting department and audit committee of the board review the 990 before it is signed and submitted.

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

Annually ask the board members and independent contractors to review the conflict of interest policy and complete/sign the form. The forms are kept on file. When made aware of a potential conflict of interest they follow up and enforce rules (e.g. Recusal from certain votes). There is reliance on the persons' self disclosures.

Form 990, Part VI, Section B, Line 15

When determining compensation the board uses review and approval by an independent person, comparability data, and has proof of the deliberation and decision.

Form 990, Part VI, Section C, Line 19

Governing documents are made available by request.

Filing and Contact Details

Filer

Filer Name
The Heartland Institute
EIN
36-3309812
Phone
3123774000
Address
3939 NORTH WILKE ROAD, ARLINGTON HEIGHTS, IL 60004

Signing Officer

Name
Jim Lakely
Title
Vice President
Phone
3123774000
Signed
2025-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Taylor
Formed
1984
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
21
Volunteers
0

Preparer

Firm
Tighe Kress & Orr Pc
Address
2205 POINT BLVD SUITE 100, ELGIN, IL 60123
Preparer
Cynthia M Petschke CPA Cva
Phone
8476952700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has not changed either its oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

The institute adopted the implementation of fasb asc 740. Under fasb asc 740, management must evaluate the positions it has taken on tax returns. Management has determined that there are no tax positions that would result in a more likely than not (50% chance) of being sustained under a potential audit or examination.

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

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IRS990/OtherExpensesGrp/ProgramServicesAmt0244872
IRS990/OtherExpensesGrp/ProgramServicesAmt143798
IRS990/OtherExpensesGrp/ProgramServicesAmt277816
IRS990/OtherExpensesGrp/TotalAmt0405366
IRS990/OtherExpensesGrp/TotalAmt1134115
IRS990/OtherExpensesGrp/TotalAmt281358
IRS990/OtherExpensesGrp/TotalAmt316786
IRS990/OtherLiabilitiesGrp/BOYAmt024652
IRS990/OtherLiabilitiesGrp/EOYAmt030214
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER MISC INCOME
IRS990/OtherRevenueMiscGrp/Desc1OTHER EVENT INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt010103
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt15000
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt15000
IRS990/OtherRevenueTotalAmt015103
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0198662
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0211400
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0871188
IRS990/OtherSalariesAndWagesGrp/TotalAmt01281250
IRS990/OtherWebsiteInd0X
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt022357
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt025967
IRS990/PayrollTaxesGrp/ProgramServicesAmt096865
IRS990/PayrollTaxesGrp/TotalAmt0145189
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt035356
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0277
IRS990/PrincipalOfficerNm0JAMES TAYLOR
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0516210
IRS990/ProgramServiceRevenueGrp/Desc0PUBLICATION/RESEARCH
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02905
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02905
IRS990/ProgSrvcAccomActy2Grp/Desc0HEARTLAND REPRESENTATIVES APPEARED IN PRINT, ONLINE, OR ON BROADCAST NEWSLETTER (THE HEARTLANDER) AND NINE WEEKLY OR BIWEEKLY EMAIL NEWSLETTERS (CLIMATE CHANGE WEEKLY, HEARTLAND WEEKLY, BUDGET & TAX NEWS, ENVIRONMENT & CLIMATE NEWS, HEALTH CARE NEWS, SCHOOL REFORM NEWS, STOPPING SOCIALISM, AND LIFE, LIBERTY, PROPERTY). HEARTLAND HAS 13 WEBSITES, 474,000 FANS OF ITS FACEBOOK PAGE, MORE THAN 94,609 TWITTER FOLLOWERS. HEARTLAND'S PODCASTS WERE DOWNLOADED HUNDREDS OF THOUSANDS OF TIMES, AND OUR VIDEOS GOT OVER 2.5 MILLION VIEWS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0562405
IRS990/ProgSrvcAccomActy3Grp/Desc0HEARTLAND HOSTED 15 INTERNATIONAL CONFERENCES ON CLIMATE CHANGE AND TWO AMERICA FIRST ENERGY CONFERENCES SINCE 2008 ATTENDED BY MORE THAN 5,500 PEOPLE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0572992
IRS990/ProgSrvcAccomActyOtherGrp/Desc0GOVERNMENT RELATIONS: PUBLICATIONS AND EVENTS GEARED TOWARD EDUCATING AND INFORMING LOCAL, STATE, AND NATIONAL ELECTED OFFICIALS ABOUT PUBLIC POLICY ISSUES. HEARTLAND PARTICIPATED IN CONFERENCES SPONSORED BY THE AMERICAN LEGISLATIVE EXCHANGE COUNCIL AND TESTIFIED BEFORE LEGISLATIVE COMMITTEES IN MULTIPLE STATES.EXPENSES: $417,298STOPPING SOCIALISM: STOPPING SOCIALISM IS A PROJECT LAUNCHED IN 2018. OWNED BY JUSTIN HASKINS, CO-DIRECTOR OF THE SOCIALISM RESEARCH CENTER AT THE HEARTLAND INSTITUTE AND THE AUTHOR OF THE AMAZON BESTSELLER SOCIALISM IS EVIL: THE MORAL CASE AGAINST MARX'S RADICAL DREAM (2018). EXPENSE: $3,000
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0420298
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt04053053
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt088
IRS990/PYOtherExpensesAmt01633137
IRS990/PYOtherRevenueAmt061351
IRS990/PYProgramServiceRevenueAmt07247
IRS990/PYRevenuesLessExpensesAmt023683
IRS990/PYSalariesCompEmpBnftPaidAmt02464919
IRS990/PYTotalExpensesAmt04098056
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04121739
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-353457
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt018008
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03506
IRS990/SavingsAndTempCashInvstGrp/EOYAmt080
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03297323
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04053053
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03822898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04054969
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03748445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt018976688
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09951
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt088
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt023528
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt033591
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt017008
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt018011
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt019024
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01458
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt07928
IRS990ScheduleA/OtherIncome170Grp/TotalAmt063429
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.76190
IRS990ScheduleA/PublicSupportPY170Pct00.88540
IRS990ScheduleA/PublicSupportTotal170Amt014532662
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03297323
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt04053053
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03822898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04054969
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03748445
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt018976688
IRS990ScheduleA/TotalSupportAmt019073708
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus1Amt088952
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus2Amt091928
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus3Amt089493
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/TotalAmt0270373
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus1Amt0355808
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt0367710
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt0357971
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt01081489
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus1Amt0346
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus2Amt024125
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus3Amt010390
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/TotalAmt034861
IRS990ScheduleC/GrassrootsCeilingAmt0405560
IRS990ScheduleC/LobbyingCeilingAmt01622234
IRS990ScheduleD/BuildingsGrp/BookValueAmt0715539
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0237004
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0952543
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0235378
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0235378
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03703739
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt065364
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt065364
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015548
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt042707
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt058255
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030214
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03350282
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INSTITUTE ADOPTED THE IMPLEMENTATION OF FASB ASC 740. UNDER FASB ASC 740, MANAGEMENT MUST EVALUATE THE POSITIONS IT HAS TAKEN ON TAX RETURNS. MANAGEMENT HAS DETERMINED THAT THERE ARE NO TAX POSITIONS THAT WOULD RESULT IN A MORE LIKELY THAN NOT (50% CHANCE) OF BEING SUSTAINED UNDER A POTENTIAL AUDIT OR EXAMINATION.

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