2025-11-05T13:08:25-06:00 2025-06-30 932001788 BRYMAR CPA LLP 17 ASPEN WAY WATSONVILLE CA 95076 990 2024-07-01 943008370 THE INDEPENDENT INSTITUTE INDE 5106321366 100 SWAN WAY OAKLAND CA 94621 MARY LG THEROUX CHIEF EXECUTIVE OFFICER 5106321366 2025-11-04 1 0 SANDRA MARTINEZ-BULOSAN P02362711 8312881720 2025-11-04 2024 2025-03-06 01:10:19Z MARY LG THEROUX 100 SWAN WAY OAKLAND CA 94621 8110040 0 X WWW.INDEPENDENT.ORG X 1986 CA ADVANCE PEACEFUL, PROSPEROUS, & FREE SOCIETIES GROUNDED IN A COMMITMENT TO HUMAN WORTH & DIGNITY. 9 7 33 7 0 0 8421321 5542509 59636 61815 564143 863237 -3880 47380 9041220 6514941 0 0 0 0 2688972 3434649 0 0 810234 2639269 3168369 5328241 6603018 3712979 -88077 12658115 12956735 838450 936549 11819665 12020186 X ESTABLISHED IN THE ENTREPRENEURIAL SPIRIT OF ITS HOME IN SILICON VALLEY, THE NON-PROFIT, NON-PARTISAN INDEPENDENT INSTITUTE EMPLOYS INNOVATIVE THINKING TO BOLDLY ADVANCE PEACEFUL, PROSPEROUS, AND FREE SOCIETIES GROUNDED IN A COMMITMENT TO HUMAN WORTH AND DIGNITY. 0 0 2586715 109195 DISSEMINATING IDEAS: INDEPENDENT DEPLOYS BEST-IN-CLASS TRANSMEDIA CAMPAIGNS TO CONNECT ITS RIGOROUS RESEARCH TO TARGETED AUDIENCES, ENCOURAGING THE APPLICATION OF THESE IDEAS INTO THE CULTURE AND COMMUNITY IN WINNING THE BATTLE OF IDEAS. THESE ACTIVITIES INCLUDE PUBLISHING THE WORK IN VARIOUS FORMATS (BOOK, JOURNAL ARTICLE, OR OTHER PUBLICATION), AND THEN AGGRESSIVELY MARKETING THE RESULTS TO POSITION THE FINDINGS ACROSS MAJOR OPINION AUDIENCES. INDEPENDENT ORGANIZES CONFERENCES AND MEDIA PROGRAMS, AND REPACKAGES THE FINDINGS TO COMMUNICATE TO DIFFERENT KINDS AND LEVELS OF AUDIENCES. WE UTILIZE ONLINE PLATFORMS AND SOCIAL MEDIA IN TARGETING AUDIENCES ON THOSE MATTERS THAT WILL DIRECTLY AFFECT THEM. THESE ACTIVITIES ATTRACT OVER 1 MILLION WEBSITE VISITORS, HALF A MILLION SOCIAL MEDIA FOLLOWERS, AND 5.5 BILLION MEDIA IMPRESSIONS PER YEAR. 1449051 SPARKING ENTREPRENEURSHIP & INNOVATION: INDEPENDENT REVERSES GOVERNMENT GROWTH BY SPOTLIGHTING WRONGDOING AND OFFERING PRACTICAL, TECH-FORWARD SOLUTIONS GROUNDED IN NATURAL LAW. WE GENERATE SOLUTIONS IN BUSINESS, HOUSING, HEALTHCARE, ENTITLEMENTS, THE ENVIRONMENT, AND GLOBAL PROSPERITY. OUR CALIFORNIA GOLDEN FLEECE AWARDS, AWARD-WINNING BOOKS, STUDIES, SPANISH WEBSITE, AND MULTI-MEDIA CAMPAIGNS SHARE OUR SOLUTIONS WITH CIVIC LEADERS, THE MEDIA, AND THE PUBLIC. OUR WORK HAS BEEN INTRODUCED IN NATIONAL LEGISLATION, CONTRIBUTED TO THE ELIMINATION OF THE INDIVIDUAL HEALTHCARE MANDATE, MOTIVATED REFORM IN THE CALIFORNIA DEPARTMENT OF WATER RESOURCES AND DEPARTMENT OF FORESTRY AND FIRE PREVENTION, AND HAS BEEN SIGNED INTO LAW IN CALIFORNIA. 573848 EDUCATING THE NEXT GENERATION: INDEPENDENT ENGAGES AND INSPIRES YOUNG PEOPLE AND PARENTS WITH THE PRINCIPLES OF LIBERTY, AND EMPOWERS PARENTS TO SELECT THE BEST EDUCATION FOR THEIR CHILDREN. OUR SATIRICAL YOUTUBE SERIES, LOVE GOV, APPLIES FREE-MARKET THINKING TO HOUSING, EMPLOYMENT, HEALTHCARE, EDUCATION, AND PRIVACY, AND HAS ACHIEVED WELL OVER 7.4 MILLION VIEWS PRIMARILY FROM MILLENNIALS. THIS YEAR, WE LAUNCH LOVE GOV SEASON TWO WITH A COMPLEMENTARY WEBSITE AND SOCIAL MEDIA PORTFOLIO. OUR INTERNSHIPS AND YOUTH-FOCUSED EVENTS OFFER HANDS-ON LEARNING, AND OUR EFFORTS TO BUILD AWARENESS FOR SCHOOL CHOICE, AFFORDABLE PRIVATE SCHOOL MODELS, AND HIGHER EDUCATION REFORMS ARE EXPANDING EDUCATIONAL OPPORTUNITY FOR ALL. 508437 DEFENDING CIVIL LIBERTIES: INDEPENDENT REMINDS THE PUBLIC, MEDIA, AND CIVIC LEADERS ABOUT CONSTITUTIONAL LIMITS ON GOVERNMENT AND THE CIVIL LIBERTIES THOSE LIMITS PROTECT. OUR PRINCIPLED, PEER-REVIEWED RESEARCH CRITICALLY REVIEWS POLICIES AND APPROACHES TO TORT LIABILITY, CRIMINAL JUSTICE, CONSTITUTIONAL LAW, PROPERTY RIGHTS, CIVIL LIBERTIES, FOREIGN POLICY, AND HUMAN MORALITY TO PRESERVE AND EXPAND INDIVIDUAL LIBERTY. OUR RESEARCH AND SOLUTIONS ARE DISSEMINATED THROUGH AWARD-WINNING BOOKS, STUDIES, EVENTS, REGIONAL AND NATIONAL MULTI-MEDIA CAMPAIGNS, AND HAVE INSPIRED LEGISLATIVE TESTIMONY BEFORE A U.S. HOUSE COMMITTEE, SENATE JUDICIARY COMMITTEE, AND HAVE BEEN CITED MULTIPLE TIMES BY THE U.S. SUPREME COURT. 508437 5118051 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 63 0 1 33 1 0 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA AL AK AR CT FL GA HI IL KS KY MD MA MI MN MS NH NJ RI SC TN UT WV WI AZ CO DE ID IN IA LA ME MO MT NE NV NM NY NC ND OH OR OK PA SD TX VT WA WY VA X X X THE ORGANIZATION 5106321366 100 SWAN WAY OAKLAND CA 94621 GRAHAM H WALKER PRESIDENT 40.00 X X 281510 0 14779 SUSAN SOLINSKY DIRECTOR 2.00 X 0 0 0 SARAH A O'DOWD DIRECTOR 2.00 X 0 0 0 SALLY S HARRIS DIRECTOR 2.00 X 0 0 0 MICHAEL S CASSLING DIRECTOR 2.00 X 0 0 0 MARY L G THEROUX CHAIRMAN AND CEO 40.00 X X 0 0 0 JOHN HAGEL III DIRECTOR 2.00 X 0 0 0 JOHN B ESTILL DIRECTOR 2.00 X 0 0 0 DAVID J TEECE DIRECTOR 2.00 X 0 0 0 PHIL MAGNESS DJT CHAIR 40.00 X 219415 0 7422 BRADLEY DEVOS CHIEF OPERATING OFFICER 40.00 X 172385 0 0 WILLIAMSON EVERS SENIOR FELLOW AND COEE DIRECTOR 40.00 X 189925 0 16235 IVAN ELAND SENIOR FELLOW AND COPAL DIRECTOR 40.00 X 155670 0 15996 LAWRENCE MCQUILLAN SENIOR FELLOW AND COEI DIRECTOR 40.00 X 138094 0 16564 JACOB TURNROSE DIRECTOR OF DEVELOPMENT 40.00 X 134480 0 855 GABRIEL GASAVE DIRECTOR OF THE CENTER ON GLOBAL PROSPERITY 40.00 X 110412 0 9707 1401891 0 81558 8 0 1 0 AWARENESS ANALYTICS PARTNERS LLC 427 LOGAN LODGE ROAD KILMARNOCK VA 22482 DATA ANALYTICS 308203 FOUR STAR PRINTING & MAILING 43671 TRADE CENTER PL STE 154 STERLING VA 20166 PRINTING & MAILING 186481 COLLECTIVE IMPACT NETWORK LLC 2030 VALLEJO STREET SAN FRANCISCO CA 94123 CONSULTING 180000 STEPHEN PHALBROOK 925 CHAINBRIDGE RD 403 FAIRFAX VA 22030 HONORARIUM 175000 ALETHES MEDIA GROUP LLC DBA SPENCE MEDIA 525-K EAST MARKET STREET STE 293 LEESBURG VA 20176 DIGITAL MEDIA 160200 7 5542509 300000 5542509 SUBSCRIPTION & ROYALTI 513130 61815 61815 61815 396970 396970 1937000 1470733 466267 466267 466267 165675 124366 41309 41309 ADVERTISING REVENUE 541800 4396 4396 CONFERENCE AND EVENT R 900099 1625 1625 OTHER INCOME 900099 50 50 6071 6514941 109195 0 863237 X 673310 502782 90882 79646 2296024 1714515 309913 271596 256568 190473 34647 31448 208747 154970 28190 25587 193753 156276 18482 18995 1629445 1376965 123816 128664 230860 210179 672 20009 50901 34398 5885 10618 88827 67222 10002 11603 412743 341472 25662 45609 2548 2548 37943 28715 4272 4956 51494 34799 5953 10742 PRINTING AND POSTAGE 396498 255712 5329 135457 SUBSCRIPTIONS & MEMBERS 50605 34198 5850 10557 MAINTENANCE & REPAIRS 15012 10145 1735 3132 BANK & CREDIT CARD FEES 7740 5230 895 1615 6603018 5118051 674733 810234 592102 316989 4312964 2676723 955000 1491811 29418 43926 180800 172362 56094 81518 348907 242056 73067 106851 6102858 7783093 355812 283462 12658115 12956735 475954 641301 362496 295248 838450 936549 X 7607347 5987718 4212318 6032468 11819665 12020186 12658115 12956735 -88077 288598 0 X 0 1 X 1 0 X 4112328 4744383 4275426 8421321 5542509 27095967 4112328 4744383 4275426 8421321 5542509 27095967 5117223 21978744 246489 199591 154858 288729 396970 1286637 76419 94271 58978 59636 61815 351119 28733723 0.76490 0.74060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3025120 100000 627548 54046 3698622 936609 1250000 838511 3025120 924181 12428 936609 1075149 -98056 52912 924181 947650 178926 51427 1075149 0.27000 0.73000 0 0 173496 97575 75921 127470 106362 21108 47941 38119 9822 106851 LEASE LIABILITY 295248 295248 X 7229155 288598 425616 714214 6514941 0 6514941 7026086 425616 425616 6600470 2548 2548 6603018 PART V, LINE 4: THE FUND SHALL BE USED FOR SUPPORT OF THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE INDEPENDENT INSTITUTE. PART X, LINE 2: THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS AND WILL RECOGNIZE A LOSS CONTINGENCY WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. AS OF JUNE 30, 2025 MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES FOR INCOME TAX RETURNS FILED IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF CALIFORNIA. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,548. X X 0 0 0 0 0 0 0 0 0 GRAHAM H WALKER PRESIDENT 209240 0 72270 0 0 0 0 0 14779 0 296289 0 0 0 PHIL MAGNESS DJT CHAIR 219415 0 0 0 0 0 0 0 7422 0 226837 0 0 0 WILLIAMSON EVERS SENIOR FELLOW AND COEE DIRECTOR 189925 0 0 0 0 0 0 0 16235 0 206160 0 0 0 BRADLEY DEVOS CHIEF OPERATING OFFICER 172385 0 0 0 0 0 0 0 0 0 172385 0 0 0 IVAN ELAND SENIOR FELLOW AND COPAL DIRECTOR 155670 0 0 0 0 0 0 0 15996 0 171666 0 0 0 LAWRENCE MCQUILLAN SENIOR FELLOW AND COEI DIRECTOR 138094 0 0 0 0 0 0 0 16564 0 154658 0 0 0 LIGHTNING VENTURES LP COMMON CONTROL 84000 RENTS PAID 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: LIGHTNING VENTURES, LP(D) DESCRIPTION OF TRANSACTION: PAYMENTS ON BUILDING LEASE HELD BY RELATED PARTY X 2 300000 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 MARY L.G. THEROUX IS THE SOLE MEMBER FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT AND BOARD FINANCE COMMITTEE AND IS OPEN TO DISCUSSION AT THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND KEY EMPLOYEES ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT THEY HAVE READ THE ORGANIZATION'S POLICY, THEY UNDERSTAND IT, AND AGREE TO COMPLY WITH IT. FORM 990, PART VI, SECTION B, LINE 15 USING SURVEY DATA FOR REGIONAL NON-PROFITS AND NATIONAL THINK TANKS, THE COMPENSATION COMMITTEE, COMPRISED OF INDEPENDENT BOARD MEMBERS, REVIEW AND APPROVE THE COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND PROVIDES CONTEMPORANEOUS SUBSTANTIATION OF THEIR DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION WILL PROVIDE ITS FORM 1023 FOR PUBLIC INSPECTION UPON REQUEST AT ITS LOCAL OFFICE. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 7,346. MANAGEMENT AND GENERAL EXPENSES 1,257. FUNDRAISING EXPENSES 2,268. TOTAL EXPENSES 10,871. PUBLICITY & MEDIA SPECIALISTS: PROGRAM SERVICE EXPENSES 215,830. MANAGEMENT AND GENERAL EXPENSES 25,525. FUNDRAISING EXPENSES 26,233. TOTAL EXPENSES 267,588. HONORARIA: PROGRAM SERVICE EXPENSES 360,701. MANAGEMENT AND GENERAL EXPENSES 3,263. FUNDRAISING EXPENSES 3,786. TOTAL EXPENSES 367,750. CONSULTING: PROGRAM SERVICE EXPENSES 54,907. MANAGEMENT AND GENERAL EXPENSES 6,493. FUNDRAISING EXPENSES 6,674. TOTAL EXPENSES 68,074. PRINTING AND PUBLICATIONS: PROGRAM SERVICE EXPENSES 150,732. MANAGEMENT AND GENERAL EXPENSES 17,826. FUNDRAISING EXPENSES 18,321. TOTAL EXPENSES 186,879. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 587,449. MANAGEMENT AND GENERAL EXPENSES 69,452. FUNDRAISING EXPENSES 71,382. TOTAL EXPENSES 728,283. DAVID J & MARY LG THEROUX FOUNDATION 100 SWAN WAY OAKLAND CA 94621 943180069 GRANT-MAKING CA 501(C)(3) PF 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0