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Heritage Foundation

EIN 23-7327730 · Washington, DC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood78 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO FORMULATE AND PROMOTE CONSERVATIVE PUBLIC POLICIES BASED ON THE PRINCIPLES OF FREE ENTERPRISE, LIMITED GOVERNMENT, INDIVIDUAL FREEDOM, TRADITIONAL AMERICAN VALUES, AND A STRONG NATIONAL DEFENSE.

Income
$133.9 million
Spending
$142.2 million
Spent on programs
83%
Reserves
9.6 months of spending
Largest source of income
donations and private grants, 79%
Employees
557
Volunteers
15
Highest pay
$950,545, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 78 out of 100. Higher than 64% of charities in its peer group (public benefit, over $100m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.6 months of spending.

  • Debt

    16 of 20

    It owes 19% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 6% of income.

  • Income trend

    15 of 15

    Income rose 33% on the year before.

  • Spending floor

    15 of 15

    83% of spending went to programs and raising each dollar of donations cost 19 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 40% of charities in its peer group (public benefit, over $100m).

  • Independent board

    25 of 25

    15 of 16 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $50.1 million spent. EDUCATIONAL PROGRAMS AND COMMUNICATIONS:THE HERITAGE FOUNDATION (THE FOUNDATION) HOSTS EVENTS AND SPONSORS PROGRAMS TO EDUCATE POLICYMAKERS, GOVERNMENT OFFICIALS, THE ACADEMIC COMMUNITY, JOURNALISTS, AND THE GENERAL PUBLIC ON TOPICS RANGING FROM THE CONSTITUTION AND CIVIL SOCIETY TO POLITICAL PHILOSOPHY AND LEGAL JURISPRUDENCE.IN 2024, A STRATEGY FORUM WAS HELD THAT CONVENED 200 MOVEMENT LEADERS AND EXPERTS IN POLICY RESEARCH, STRATEGY, AND COMMUNICATION TO EXCHANGE ACTIONABLE INSIGHTS, DEVELOP STRATEGIC PLANS, AND STRENGTHEN COLLABORATION ON KEY PRIORITIES SHAPING THE CONSERVATIVE MOVEMENT.THE FOUNDATION'S EVENTS AND PROGRAMMING TEAM PRODUCED 56 PUBLIC EVENTS, ATTRACTING OVER 11,000 VIRTUAL AND IN-PERSON ATTENDEES. OVER 160 INDIVIDUALS IN AND OUTSIDE THE ORGANIZATION SPOKE ON OUR PUBLIC STAGE. SPEAKERS INCLUDED CURRENT AND FORMER GOVERNMENT OFFICIALS. PROGRAMS WERE FOCUSED ON A RANGE OF POLICY ISSUES INCLUDING FOREIGN POLICY, EDUCATION, MARRIAGE AND FAMILY, IMMIGRATION, ENERGY, AND MORE.THE INTERN PROGRAM HOSTED A TOTAL OF 167 INTERNS IN A FULLY IMMERSIVE WORK-STUDY EXPERIENCE THAT INCLUDED FIRST PRINCIPLES AND POLICY LECTURES, PROFESSIONAL DEVELOPMENT SESSIIONS, AND FIELD TRIPS.THE FOUNDATION'S PEOPLE PIPELINE TRAINED OVER 2,000 ACADEMY ENROLLEES FROM 50 STATES AND 40+ COUNTRIES, HOSTED 150+ COLLEGE INTERNS, AND WELCOMED 31 HIGH SCHOOL FELLOWS.
  2. $48.9 million spent. PUBLIC POLICY RESEARCH:THE FOUNDATION PRODUCES RESEARCH PAPERS ANNUALLY, INCLUDING ISSUE BRIEFS, BLOG POSTS, FACT SHEETS, BACKGROUNDERS, GUIDES, AND BOOKS ADDRESSING A BROAD RANGE OF ECONOMIC, DOMESTIC, FOREIGN, NATIONAL SECURITY, AND LEGAL POLICY ISSUES. THE FOUNDATION PUBLISHED 33 ISSUE BRIEFS, 66 BACKGROUNDERS, 20 LEGAL MEMORANDA, 20 FACTSHEETS AND 27 SPECIAL REPORTS. THE FOUNDATION ALSO REGULARLY PUBLISHES CONTENT ACROSS SOCIAL MEDIA PLATFORMS AS THE PUBLIC HAS SHIFTED ITS CONTENT AND CONSUMPTION TO THOSE CHANNELS. THE SOCIAL MEDIA FOOTPRINT GREW TO 3.3 MILLION TOTAL FOLLOWERS, INCLUDING 1.9 MILLION ON FACEBOOK, 720,000 ON X, 424,000 YOUTUBE SUBSCRIBERS, AND 262,000 ON INSTAGRAM. THE ASIAN STUDIES CENTER PRODUCED 21 REPORTS, 40+ OP-EDS, AND HOSTED 22 EVENTS TO COUNTER CHINA'S INFLUENCE, WHILE THE TECH POLICY CENTER SUPPORTED MULTIPLE STATE-LEVEL BIG TECH INVESTIGATIONS.THE FOUNDATION'S PROJECT 2025 PRESIDENTIAL TRANSITION PROJECT GARNERED MILLIONS OF PAGE VIEWS AND DOWNLOADS OF THE MANDATE FOR LEADERSHIP, REPRESENTING OVER 100 CONSERVATIVE ORGANIZATIONS AND SPARKING 50 PLUS FACT CHECKS IN MAJOR MEDIA OUTLETS.DURING 2024, A PERSONAL INFLATION CALCULATOR WAS RELEASED THAT ATTRACTED 140,000 VISITS IN ITS FIRST MONTH, WITH MENTIONS REACHING NEARLY 900,000. THE ELECTION INTEGRITY SCORECARD DOCUMENTED 1,600 PROVEN CASES OF ELECTION FRAUD AND SAW 27 STATES IMPROVE THEIR ELECTION LAWS SINCE 2021. THE ELECTION FRAUD MAP GENERATED 145,000 PAGE VIEWS, ENHANCING PUBLIC ACCESS TO CRITICAL DATA. THE EDUCATION FREEDOM REPORT CARD NOTED 25 STATES ENHANCING THEIR RANKINGS SINCE 2022, WITH 11 STATES ACHIEVING UNIVERSAL EDUCATION CHOICE.
  3. $18.3 million spent. MEDIA, GOVERNMENT RELATIONS, AND OUTREACH:THE FOUNDATION DISTRIBUTES ITS RESEARCH PRODUCTS TO MEMBERS OF CONGRESS, CONGRESSIONAL STAFF, POLICYMAKERS IN THE EXECUTIVE BRANCH OF THE FEDERAL GOVERNMENT, STATE OFFICIALS, JOURNALISTS, MEMBERS OF THE ACADEMIC COMMUNITY, OTHER NON-PROFIT ORGANIZATIONS, THE GENERAL PUBLIC, AND DONORS. THE FOUNDATION CONDUCTS HUNDREDS OF BRIEFINGS FOR DOMESTIC AND INTERNATIONAL OFFICIALS, POLICYMAKERS, EXPERTS, AND LAWMAKERS AND THEIR STAFF ON ISSUES RANGING FROM FEDERAL SPENDING AND UNFUNDED LIABILITIES TO HOMELAND SECURITY, TAX, AND HEALTH POLICY. IN 2024, THE GOVERNMENT RELATIONS TEAM HELD 194 MEETINGS WITH CONGRESSIONAL STAFF AND SAW 32 MEMBERS OF CONGRESS PARTICIPATE IN EVENTS, WHILE CONDUCTING 72 EDUCATIONAL MEETINGS WITH HILL STAFF AND 18 NONPARTISAN CANDIDATE BRIEFINGS.IN 2024, THE FOUNDATION AMPLIFIED ITS NATIONAL PRESENCE WITH 1,983 TV HITS, 2,325 RADIO HITS, 158 PODCAST APPEARANCES, AND 870 OP-EDS PLACED, SHAPING PUBLIC DISCOURSE COAST TO COAST.THE FOUNDATION REACHED 34 MILLION AMERICANS AND NON-PARTISAN VOTER REGISTRATION EFFORTS ENGAGED 85,000 HOMES AND 25,000 VOTERS.THE FOUNDATION HOSTED OR SPONSORED 128 EVENTS ACROSS 28 STATES AND 40 COUNTRIES, REACHING OVER 228,000 CONSERVATIVES IN-PERSON, AND INVESTED $1.1 MILLION IN 72 PARTNER ORGANIZATIONS.THE OVERSIGHT PROJECT WORKS FOR A U.S. GOVERNMENT THAT IS RESPONSIBLE, AND ACCOUNTABLE TO ITS CITIZENS. IN 2024, 65,000 FREEDOM OF INFORMATION ACT (FOIA) REQUESTS WERE FILED WITH THE CURRENT ADMINISTRATION IN ADDITION TO VARIOUS STATE GOVERNMENTS. IN ADDITION, A TOTAL OF 100 LAWSUITS WERE LAUNCHED NATIONWIDE, EXPOSING GOVERNMENT ACTIVITIES AND DRIVING ACCOUNTABILITY.ADDITIONAL INFORMATION IS AVAILABLE IN OUR 2024 ANNUAL REPORT, AVAILABLE ONLINE AT HTTPS://WWW.HERITAGE.ORG/ARTICLE/THE-HERITAGE-FOUNDATIONS-FINANCIAL-INFORMATION.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 1973.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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