Civic Intelligence

The Third Way Foundation Inc.

990 • Fiscal year 2022 • EIN 52-1629221

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 14, 2023

Organization ProfileWWW.PROGRESSIVEPOLICY.ORG

View Organization Page

1156 15th Street NW 400Washington, DC 20005

(202) 525-3926

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

66th percentile

16%

Higher net margin than 66% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$258,083

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

53rd percentile

1.6%

Faster asset growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

48th percentile

2.9%

Faster revenue growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$13,009,369

Up $202,688 (+1.6%) from 2021

Net Assets

Up

$13,004,575

Up $205,677 (+1.6%) from 2021

Liabilities

Down

$4,794

Down $2,989 (-38%) from 2021

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin66th percentile

Revenue

Up

$7,340,480

Up $209,160 (+2.9%) from 2021

Expenses

Up

$6,197,734

Up $771,404 (+14%) from 2021

Net Income

Down

$1,142,746

Down $562,244 (-33%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $469,151Liabilities 2010: $539,292Net Assets 2010: -$70,1412010Assets 2011: $451,406Liabilities 2011: $403,406Net Assets 2011: $48,0002011Assets 2012: $125,483Liabilities 2012: $20,000Net Assets 2012: $105,4832012Assets 2013: $433,410Liabilities 2013: $122,531Net Assets 2013: $310,8792013Assets 2014: $367,568Liabilities 2014: $0Net Assets 2014: $367,5682014Assets 2015: $367,568Liabilities 2015: $0Net Assets 2015: $367,5682015Assets 2016: $473,466Liabilities 2016: $0Net Assets 2016: $473,4662016Assets 2017: $840,020Liabilities 2017: $74,785Net Assets 2017: $765,2352017Assets 2018: $964,487Liabilities 2018: $82,813Net Assets 2018: $881,6742018Assets 2019: $904,425Liabilities 2019: $29,213Net Assets 2019: $875,2122019Assets 2020: $11,136,110Liabilities 2020: $297,006Net Assets 2020: $10,839,1042020Assets 2021: $12,806,681Liabilities 2021: $7,783Net Assets 2021: $12,798,8982021Assets 2022: $13,009,369Liabilities 2022: $4,794Net Assets 2022: $13,004,5752022Assets 2023: $18,305,774Liabilities 2023: $2,610,404Net Assets 2023: $15,695,3702023Assets 2024: $19,110,224Liabilities 2024: $2,526,573Net Assets 2024: $16,583,6512024

Highlighted filing

2022

Assets$13,009,369
Liabilities$4,794
Net Assets$13,004,575
Open 2022 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2010: $905,960Expenses 2010: $1,082,972Net Income 2010: -$177,0122010Revenue 2011: $1,030,281Expenses 2011: $991,281Net Income 2011: $39,0002011Revenue 2012: $1,366,000Expenses 2012: $1,243,417Net Income 2012: $122,5832012Revenue 2013: $1,903,318Expenses 2013: $1,592,439Net Income 2013: $310,8792013Revenue 2014: $1,940,413Expenses 2014: $1,986,255Net Income 2014: -$45,8422014Revenue 2015: $1,940,413Expenses 2015: $1,986,255Net Income 2015: -$45,8422015Revenue 2016: $2,743,046Expenses 2016: $2,269,580Net Income 2016: $473,4662016Revenue 2017: $3,101,404Expenses 2017: $2,885,081Net Income 2017: $216,3232017Revenue 2018: $3,779,404Expenses 2018: $3,662,965Net Income 2018: $116,4392018Revenue 2019: $3,920,478Expenses 2019: $3,926,941Net Income 2019: -$6,4632019Revenue 2020: $13,724,985Expenses 2020: $3,761,093Net Income 2020: $9,963,8922020Revenue 2021: $7,131,320Expenses 2021: $5,426,330Net Income 2021: $1,704,9902021Revenue 2022: $7,340,480Expenses 2022: $6,197,734Net Income 2022: $1,142,7462022Revenue 2023: $9,169,792Expenses 2023: $7,637,914Net Income 2023: $1,531,8782023Revenue 2024: $11,097,849Expenses 2024: $10,900,240Net Income 2024: $197,6092024

Highlighted filing

2022

Revenue$7,340,480
Expenses$6,197,734
Net Income$1,142,746
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 14, 2023
Return Version
2022v5.0
Gross Receipts
$8,109,742
Mission and Program Overview

Mission

To advance the cause of progressive government in america by promoting civic responsibility and public entrepreneurship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,354,146$11,056,088▼ $1,298,058
Cash and Non-Interest-Bearing Accounts$429,841$1,923,055▲ $1,493,214
Prepaid Expenses and Deferred Charges$6,294$18,123▲ $11,829
Land, Buildings, and Equipment, Net$16,400$12,103▼ $4,297
Total Assets$12,806,681$13,009,369▲ $202,688
Liabilities
Other Liabilities$7,783$4,794▼ $2,989
Total Liabilities$7,783$4,794▼ $2,989
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,798,898$13,004,575▲ $205,677
Total Net Assets Fund Balance$12,798,898$13,004,575▲ $205,677
Total Liabilities and Net Assets / Fund Balance$12,806,681$13,009,369▲ $202,688

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,103$9,382$21,485
Other Land Buildings$0$15,911$15,911
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lindsay Mark LewisExecutive DirectorFT$258,083$258,083
William MarshallPresidentFT$255,000$255,000
Michael MandelChief EconomistFT$240,000$240,000
Edward GresserVice PresidentFT$219,000$219,000
Sarah PadenVice PresidentFT$150,687$150,687
Benjamin a RitzDirectorFT$137,500$137,500
Curtis ValentineCo-directorFT$128,750$128,750
Tressa a PankovitsCo-directorFT$128,750$128,750
Steven Neely BrownDirectorFT$119,167$119,167
Jeremiah JohnsonPolicy DirectorFT$118,333$118,333
Jordan ShapiroDirectorFT$105,000$105,000
Stuart MalecDirectorFT$102,222$102,222

Board Members and Trustees

NameTitle
Bill BudingerDirector
Chris KellyDirector
Paul Weinstein JrDirector
William GalstonDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Precision StrategiesIntegrated Marketing901 NEW YORK AVENUE NW STE 530, Washington, DC 20001$285,900
Revenue and Support

Revenue Composition

Contributions and Grants
$7,133,107
Program Service Revenue
$0
Investment Income
$207,373
Other Revenue
$0
All Other Contributions
$6,847,607
Change in Net Assets
$1,142,746

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,340,480
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-937,069
Total Revenue per Audited Statements
$6,403,411
Total Revenue per Form 990
$7,340,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,784,807
Other Expenses$2,316,131
Grants and Similar Amounts Paid$96,796
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,475,241$618,810-$3,094,051
Travel$506,466$126,617-$633,083
Fees for Services Other$558,142$1,652-$559,794
Advertising$285,900$15,152-$301,052
Occupancy-$295,960-$295,960
Other Employee Benefits$226,710$56,678-$283,388
Payroll Taxes$184,923$46,231-$231,154
Pension Plan Contributions$140,971$35,243-$176,214
Foreign Grants$96,796--$96,796
Office Expenses$64,246$16,061-$80,307
All Other Expenses$27,542$31,506-$59,048
Fees for Service Investment Mgmnt Fees-$53,710-$53,710
Fees for Services Legal$18,255$4,564-$22,819
Fees for Services Management$17,400$4,350-$21,750
Other Expenses$21,672$18,042-$18,042
Fees for Services Accounting$12,480$3,120-$15,600
Insurance-$9,404-$9,404
Depreciation Depletion-$4,297-$4,297
Interest-$3,656-$3,656
Total Functional Expenses$4,847,263$1,350,471$0$6,197,734

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,197,734
Total Expenses per Audited Statements$6,197,734
Total Expenses per Form 990$6,197,734
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
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
Deferred Rent$4,794
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 foundation does not have a committee of the board”

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

“All employees are informed of the conflict of interes policy of the foundation”

Form 990, Part VI, Section B, Line 15

“The foundation does not have a committee of the board”

Form 990, Part VI, Section C, Line 18

“The foundation makes all documents available upon request”

Form 990, Part VI, Section C, Line 19

“All employees are informed of the conflict of interest policy of the foundation”

Filing and Contact Details

Filer

Filer Name
The Third Way Foundation Inc
EIN
52-1629221
Phone
2025253926
Address
1156 15TH STREET NW 400, WASHINGTON, DC 20005
Doing Business As
Progressive Policy Institute

Signing Officer

Name
Lindsay Lewis
Title
Executive Director
Phone
2025253926
Signed
2023-08-14

Organization Details

Principal Officer
Lindsay Lewis
Formed
1989
Legal Domicile
Dc
Voting Board Members
8
Independent Board Members
6
Employees
42
Volunteers
0

Preparer

Firm
Caldwell & Associates LLC
Address
8120 WOODMONT AVENUE 400, BETHESDA, MD 20814
Preparer
William J Caldwell CPA
Phone
3019418090
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Third way foundation has adopted fasb asc 740-10, income taxes, which prescribes measurement and disclosure requirements for current and deferred income tax provbisions. The interpretation provides for a consistent approach in identifying and reporting uncertain tax positions. It is managements belief that third way foundation does not hold any uncertain tax positions.”

Raw XML AppendixShowing 400 of 650 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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF ECONOMIST
IRS990/Form990PartVIISectionAGrp/TitleTxt12CO-DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13CO-DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15POLICY DIRECTOR
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IRS990/OfficeExpensesGrp/TotalAmt080307
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc0POLLING
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IRS990/OtherExpensesGrp/TotalAmt227090
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IRS990/PartialLiquidationInd00
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0184923
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt035243
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IRS990/PoliticalCampaignActyInd00
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt07134207
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt06704772
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03920062
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt07134207
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt06979772
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt013724009
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03920062
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03712039
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt035470089
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THIRD WAY FOUNDATION HAS ADOPTED FASB ASC 740-10, INCOME TAXES, WHICH PRESCRIBES MEASUREMENT AND DISCLOSURE REQUIREMENTS FOR CURRENT AND DEFERRED INCOME TAX PROVBISIONS. THE INTERPRETATION PROVIDES FOR A CONSISTENT APPROACH IN IDENTIFYING AND REPORTING UNCERTAIN TAX POSITIONS. IT IS MANAGEMENTS BELIEF THAT THIRD WAY FOUNDATION DOES NOT HOLD ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd00
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt120705
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt243000

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,009,369
Liabilities
$4,794
Net assets
$13,004,575
Revenue
$7,340,480
Expenses
$6,197,734
Net income
$1,142,746
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$19.1$2.53$16.6$11.1$10.9$0.20
2023Summary only. Only limited summary data is available for this year.$18.3$2.61$15.7$9.17$7.64$1.53
2022Detailed filing. Detailed filing data is available for this year.$13.0$0.00$13.0$7.34$6.20$1.14
2021Summary only. Only limited summary data is available for this year.$12.8$0.01$12.8$7.13$5.43$1.70
2020Summary only. Only limited summary data is available for this year.$11.1$0.30$10.8$13.7$3.76$9.96
2019Summary only. Only limited summary data is available for this year.$0.90$0.03$0.88$3.92$3.93$0.01
2018Summary only. Only limited summary data is available for this year.$0.96$0.08$0.88$3.78$3.66$0.12
2017Summary only. Only limited summary data is available for this year.$0.84$0.07$0.77$3.10$2.89$0.22
2016Summary only. Only limited summary data is available for this year.$0.47$0.00$0.47$2.74$2.27$0.47
2015Summary only. Only limited summary data is available for this year.$0.37$0.00$0.37$1.94$1.99$0.05
2014Summary only. Only limited summary data is available for this year.$0.37$0.00$0.37$1.94$1.99$0.05
2013Summary only. Only limited summary data is available for this year.$0.43$0.12$0.31$1.90$1.59$0.31
2012Summary only. Only limited summary data is available for this year.$0.13$0.02$0.11$1.37$1.24$0.12
2011Summary only. Only limited summary data is available for this year.$0.45$0.40$0.05$1.03$0.99$0.04
2010Summary only. Only limited summary data is available for this year.$0.47$0.54$0.07$0.91$1.08$0.18
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $10M-$25M nonprofits