2026-08-20T16:00:17-05:00 2025-12-31 020444048 RAICHE & COMPANY CPAS PLLC 680 CENTRAL AVE DOVER NH 03820 990 2025-01-01 995084876 LUDLOW INSTITUTE LUDL 9782268370 62 CALEF HIGHWAY 151 LEE NH 03861 NAOMI BROCKWELL PRESIDENT 9782268370 2026-08-20 1 DAVID J VERNO CPA P00195956 6037428894 2026-08-19 2025 2025-03-06 01:10:19Z X NAOMI BROCKWELL 62 CALEF HIGHWAY 151 LEE NH 03861 2155399 0 X LUDLOWINSTITUTE.ORG X 2024 SD LUDLOW INSTITUTE ADVANCES INDIVIDUAL FREEDOM THROUGH TECHNOLOGY VIA RESEARCH, PUBLIC EDUCATION, AND POLICY ANALYSIS. 4 3 3 10 0 0 0 2091651 0 5416 0 41113 0 17219 0 2155399 0 962 0 0 0 175808 0 0 44478 0 333983 0 510753 0 1644646 113733 1758379 0 0 113733 1758379 X LUDLOW INSTITUTE IS A 501(C)(3) NONPROFIT DEDICATED TO ADVANCING INDIVIDUAL FREEDOM THROUGH TECHNOLOGY VIA RESEARCH, PUBLIC EDUCATION, AND POLICY ANALYSIS. THE INSTITUTE STUDIES BOTH TECHNOLOGIES THAT ADVANCE INDIVIDUAL FREEDOM AND TECHNOLOGIES THAT LIMIT IT, AND ACROSS THESE AREAS CONDUCTS RESEARCH, PRODUCES EDUCATIONAL MEDIA AND WRITTEN MATERIALS, AND DELIVERS TRAINING THAT HELPS INDIVIDUALS PROTECT AND EMPOWER THEMSELVES IN THE DIGITAL AGE. 1 0 198435 EDUCATION (VIDEOS & ARTICLES): LUDLOW'S MEDIA PLATFORM SURPASSED 1 MILLION SUBSCRIBERS AND 100 MILLION TOTAL VIEWS ACROSS MAJOR SOCIAL VIDEO PLATFORMS IN 2025. PROGRAMMING INCLUDED INVESTIGATIVE VIDEOS, MINI-DOCUMENTARIES, TUTORIALS, AND EXPLAINERS COVERING THE FULL SPECTRUM OF TECHNOLOGIES THAT ADVANCE OR THREATEN INDIVIDUAL FREEDOM IN THE DIGITAL AGE. LUDLOW WAS FEATURED ACROSS MAJOR NATIONAL TELEVISION, PRINT, AND ONLINE OUTLETS, INCLUDING A NATIONALLY SYNDICATED COLUMN REACHING MILLIONS OF READERS. NEWSLETTER SUBSCRIBERS GREW TO NEARLY 9,000, AND THE INSTITUTE'S EBOOK SURPASSED 3,477 COPIES SOLD. 94903 962 10000 RESEARCH (GRANTS & IN-HOUSE): IN 2025, LUDLOW LAUNCHED ITS RESEARCH GRANTS PROGRAM, FUNDING INVESTIGATIONS INTO DATA COLLECTION PRACTICES AND CONSENT TRANSPARENCY IN EVERYDAY TECHNOLOGY. FIRST-ROUND GRANTS SUPPORTED A PHD STUDENT'S RESEARCH ON HIDDEN DATA COLLECTION IN SMART TVS, AND A CYBERSECURITY RESEARCHER'S EXAMINATION OF SURVEILLANCE IN FITNESS WEARABLES. LUDLOW ALSO WON A $10,000 COMPETITIVE RESEARCH GRANT FOR AN IN-HOUSE RESEARCH PROJECT EXPLORING HOW TO USE AI-GENERATED DATA TO DISRUPT DATA BROKER TRACKING SYSTEMS. 25883 POLICY: LUDLOW CONDUCTED NONPARTISAN LEGAL AND TECHNICAL RESEARCH ON THE APPLICATION OF FOURTH AMENDMENT PRINCIPLES TO DATA HELD BY THIRD PARTIES, SUCH AS BANKS, TELECOMMUNICATIONS PROVIDERS, AND DATA BROKERS, AND ENGAGED IN PUBLIC ADVOCACY ON DIGITAL PRIVACY ISSUES. IN COLLABORATION WITH LEGAL SCHOLARS AND TECHNICAL ADVISORS, LUDLOW ANALYZED HOW WARRANT REQUIREMENTS OPERATE UNDER EXISTING CONSTITUTIONAL DOCTRINE AND MADE ITS FINDINGS PUBLICLY AVAILABLE. LUDLOW'S RESEARCH INFORMED PUBLIC DEBATE ON DIGITAL PRIVACY, AND CONCEPTS DEVELOPED THROUGH THIS WORK WERE REFLECTED IN LEGISLATIVE PROPOSALS INTRODUCED IN CONGRESS. LUDLOW ALSO PARTICIPATED IN A NATIONAL EDUCATIONAL ROUNDTABLE EXAMINING FINANCIAL PRIVACY AND BANKING POLICY. 111112 0 0 TRAINING: LUDLOW DELIVERED HANDS-ON PRIVACY AND DIGITAL SECURITY TRAINING THROUGHOUT 2025, REACHING AUDIENCES RANGING FROM HIGH SCHOOL STUDENTS TO GLOBAL CIVIL SOCIETY LEADERS. TRAININGS INCLUDED A HIGH SCHOOL CLASSROOM SESSION, A COMMUNITY INTENSIVE THAT SEEDED A LOCAL PRIVACY MEETUP NETWORK, TWO SESSIONS AT A MAJOR CYBERSECURITY CONFERENCE, A WORKSHOP AT AN INTERNATIONAL INNOVATION SUMMIT, A DIGITAL SECURITY MASTERCLASS FOR A GLOBAL NETWORK OF FREEDOM ACTIVISTS, AND A FIRESIDE CHAT ON THE FUNDAMENTALS OF PRIVACY AT AN INTERNATIONAL PRIVACY TECHNOLOGY CONGRESS. 111112 0 0 430333 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 3 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X NOAMI BROCKWELL 9782268370 25 FIRST AVE WS STE A WATERTOWN SD 57201 X NAOMI BROCKWELL PRESIDENT 60.00 X X 97333 0 0 MARTA BELCHER DIRECTOR 1.00 X 0 0 0 TANYA EVANS SECRETARY 18.00 X X 0 0 34900 SCOTT BANISTER DIRECTOR 1.00 X 0 0 0 CHRIS RUFER DIRECTOR 1.00 X 0 0 0 97333 0 34900 0 0 0 0 0 X 2091651 2091651 BOOK SALES 459210 2958 2958 MERCHANDISE SALES 455000 2458 2458 5416 41113 41113 17219 17219 2155399 5416 0 58332 X 962 962 132233 104739 13774 13720 29718 22666 7052 2260 2034 113 113 11597 9376 2221 3063 3063 1216 1216 1442 1442 1447 1447 175227 161755 13472 3234 3234 20917 17779 2091 1047 25073 20058 2507 2508 51223 51223 2360 2360 3261 3261 PRODUCTION MISC, EXPENS 35934 35934 FUNDRAISING SOFTWARE EX 6566 6566 BANK FEE 2012 2012 SUPPLIES 1008 1008 510753 430333 35942 44478 113733 35627 1722752 113733 1758379 0 0 X 113733 1758379 113733 1758379 113733 1758379 1644646 0 X 0 0 0 X 113384 2091651 2205035 113384 2091651 2205035 2205035 699 58332 59031 2264066 5416 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 1821 0 0 1821 0 PART II-B, LINE 1: ALLOCATED COMPENSATION: THE PRESIDENT'S TOTAL COMPENSATION OF $97,333 (PER FORM 990, PART VII) WAS ALLOCATED BASED ON 12 HOURS DEVOTED TO LOBBYING ACTIVITY (2 HOURS IN MEETINGS WITH THE LEGISLATOR, 2 HOURS OF MEETING PREPARATION, AND 8 HOURS OF ADDITIONAL RELATED WORK) OUT OF 3,120 ANNUAL WORK HOURS, YIELDING $374.36. TRAVEL TIME WAS EXCLUDED FROM THE ALLOCATION BECAUSE THE PRESIDENT PERFORMED OTHER ORGANIZATIONAL DUTIES DURING TRAVEL. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 1 PROGRAM SERVICES VIDEO PRODUCTION, RESEARCH 29040 SUB-SAHARAN AFRICA 0 1 PROGRAM SERVICES RESEARCH 39235 EAST ASIA AND THE PACIFIC 0 1 PROGRAM SERVICES VIDEO CONTENT SUPPORT 34900 NORTH AMERICA 0 0 TRAVEL EDUCATION 3398 SOUTH AMERICA 0 0 TRAVEL EDUCATION 2218 0 3 0 0 0 3 108791 0 108791 0 0 0 0 0 0 PART I, 3. ACTIVITIES PER REGION, ADDITIONAL DESCRIPTION OF ACTIVITIES: DURING THE 2025 TAX YEAR, LUDLOW INSTITUTE ENGAGED INDEPENDENT CONTRACTORS LOCATED OUTSIDE THE UNITED STATES TO PROVIDE SERVICES IN SUPPORT OF THE ORGANIZATION'S EXEMPT PROGRAM ACTIVITIES, INCLUDING VIDEO PRODUCTION, RESEARCH SUPPORT, AND CONTENT CREATION. THE ORGANIZATION DOES NOT MAINTAIN ANY OFFICE OR PHYSICAL PRESENCE OUTSIDE THE UNITED STATES. CONTRACTORS LOCATED OUTSIDE THE UNITED STATES WERE ENGAGED ON A PROJECT-BY-PROJECT BASIS PURSUANT TO WRITTEN AGREEMENTS SPECIFYING SCOPE OF WORK AND DELIVERABLES. LUDLOW MONITORS THE USE OF ALL CONTRACTOR PAYMENTS THROUGH REVIEW OF WORK PRODUCT, INVOICES, AND SUPPORTING DOCUMENTATION PRIOR TO PAYMENT. ALL PAYMENTS TO FOREIGN CONTRACTORS WERE MADE DIRECTLY TO THE CONTRACTOR FOR SERVICES RENDERED IN FURTHERANCE OF LUDLOW'S EXEMPT PURPOSE. IN ADDITION, DURING THE YEAR LUDLOW DELIVERED TRAINING AND EDUCATIONAL PROGRAMMING AT INTERNATIONAL EVENTS, INCLUDING A WORKSHOP AT AN INTERNATIONAL INNOVATION SUMMIT, A DIGITAL SECURITY MASTERCLASS FOR A GLOBAL NETWORK OF CIVIL SOCIETY LEADERS, AND A FIRESIDE CHAT AT AN INTERNATIONAL PRIVACY TECHNOLOGY CONGRESS. TRAVEL EXPENDITURES FOR INTERNATIONAL PROGRAMMING WERE INCURRED DIRECTLY BY THE ORGANIZATION AND REVIEWED AGAINST RECEIPTS AND SUPPORTING DOCUMENTATION CONSISTENT WITH THE ORGANIZATION'S STANDARD EXPENSE PROCEDURES. FORM 990, PART III, LINE 2 DURING THE 2025 TAX YEAR, LUDLOW INSTITUTE LAUNCHED TWO SIGNIFICANT NEW PROGRAM SERVICES THAT WERE NOT REPORTED ON THE PRIOR YEAR'S FORM 990-EZ: RESEARCH (GRANTS & IN-HOUSE): IN 2025, LUDLOW LAUNCHED ITS RESEARCH GRANTS PROGRAM, PROVIDING COMPETITIVE GRANTS TO OUTSIDE RESEARCHERS INVESTIGATING DATA COLLECTION PRACTICES AND CONSENT TRANSPARENCY IN EVERYDAY TECHNOLOGY. THE PROGRAM FUNDED ITS FIRST TWO GRANTEES DURING THE YEAR. LUDLOW ALSO CONDUCTED ITS FIRST IN-HOUSE RESEARCH PROJECT, SUPPORTED BY A $10,000 COMPETITIVE RESEARCH GRANT, EXAMINING THE USE OF AI-GENERATED DATA TO DISRUPT DATA BROKER TRACKING SYSTEMS. POLICY: IN 2025, LUDLOW LAUNCHED ITS POLICY RESEARCH PROGRAM, CONDUCTING NONPARTISAN LEGAL AND TECHNICAL ANALYSIS ON THE APPLICATION OF FOURTH AMENDMENT PROTECTIONS TO DATA HELD BY THIRD PARTIES. WORKING WITH LEGAL SCHOLARS AND TECHNICAL ADVISORS, LUDLOW PUBLISHED EDUCATIONAL MATERIALS ON CONSTITUTIONAL PRIVACY PRINCIPLES FOR USE BY POLICYMAKERS, SCHOLARS, AND THE PUBLIC. LUDLOW'S RESEARCH CONTRIBUTED TO PUBLIC UNDERSTANDING OF DIGITAL PRIVACY ISSUES, AND CONCEPTS EXPLORED IN ITS PUBLISHED WORK WERE REFERENCED IN LEGISLATIVE PROPOSALS INTRODUCED IN CONGRESS. FORM 990, PART VI, SECTION B, LINE 11B A DETAILED REVIEW OF THE 990 IS COMPLETED BY DESIGNATED INDIVIDUALS AND THE REVIEWED 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO APPROVAL AND FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE REVIEWED ON AN ANNUAL BASIS OR AS DEEMED NECESSARY. DIRECTORS AND OFFICERS DISCLOSE ACTUAL OR POTENTIAL CONFLICTS TO THE BOARD, AND ANY DIRECTOR WITH A CONFLICT REGARDING A SPECIFIC MATTER IS REQUIRED TO RECUSE THEMSELVES FROM DISCUSSION AND VOTING ON THAT MATTER. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT (THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL) IS REVIEWED AND APPROVED ANNUALLY BY THE INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS. THE BOARD REVIEWS COMPENSATION DATA FOR COMPARABLE POSITIONS AT ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC SCOPE, INCLUDING PUBLICLY AVAILABLE NONPROFIT COMPENSATION DATA. THE COMPENSATION DECISION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING AT WHICH IT IS APPROVED. THE PRESIDENT DOES NOT PARTICIPATE IN DELIBERATIONS OR VOTE REGARDING HER OWN COMPENSATION. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED AND APPROVED ANNUALLY BY THE INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS. THE BOARD REVIEWS COMPENSATION DATA FOR COMPARABLE POSITIONS AT ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC SCOPE, INCLUDING PUBLICLY AVAILABLE NONPROFIT COMPENSATION DATA. COMPENSATION DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE BOARD MEETING AT WHICH THEY ARE APPROVED. OFFICERS AND KEY EMPLOYEES DO NOT PARTICIPATE IN DELIBERATIONS OR VOTE REGARDING THEIR OWN COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED AND APPROVED ANNUALLY BY THE INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS. THE BOARD REVIEWS COMPENSATION DATA FOR COMPARABLE POSITIONS AT ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC SCOPE, INCLUDING PUBLICLY AVAILABLE NONPROFIT COMPENSATION DATA. COMPENSATION DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE BOARD MEETING AT WHICH THEY ARE APPROVED. OFFICERS AND KEY EMPLOYEES DO NOT PARTICIPATE IN DELIBERATIONS OR VOTE REGARDING THEIR OWN COMPENSATION. PART VII, SECTION A ALLOCATION OF PRESIDENT'S HOURS BY FUNCTION THE PRESIDENT (NAOMI BROCKWELL) DEVOTES APPROXIMATELY 60 HOURS PER WEEK TO THE ORGANIZATION, ALLOCATED AS FOLLOWS: PROGRAM ACTIVITIES (CONTENT CREATION, RESEARCH, TRAINING DELIVERY, AND POLICY WORK): APPROXIMATELY 48 HOURS PER WEEK (APPROXIMATELY 80%) MANAGEMENT AND GENERAL (GOVERNANCE, FINANCIAL OVERSIGHT, ADMINISTRATION, HUMAN RESOURCES, AND BOARD MANAGEMENT): APPROXIMATELY 7 HOURS PER WEEK (APPROXIMATELY 12%) FUNDRAISING (DONOR CULTIVATION, GRANT WRITING, AND FUNDRAISING EVENTS): APPROXIMATELY 5 HOURS PER WEEK (APPROXIMATELY 8%) THIS ALLOCATION REFLECTS THE BASIS USED FOR THE FUNCTIONAL EXPENSE ALLOCATION OF THE PRESIDENT'S COMPENSATION IN PART IX. THE SECRETARY (TANYA EVANS) DEVOTES APPROXIMATELY 18 HOURS PER WEEK TO THE ORGANIZATION, ALLOCATED AS FOLLOWS: PROGRAM ACTIVITIES (CONTENT SUPPORT, TRAINING COORDINATION, AND PROGRAM ADMINISTRATION): APPROXIMATELY 14 HOURS PER WEEK (APPROXIMATELY 77%) FUNDRAISING (DONOR COMMUNICATIONS, DONOR CULTIVATION SUPPORT, AND FUNDRAISING ADMINISTRATION): APPROXIMATELY 3 HOURS PER WEEK (APPROXIMATELY 17%) MANAGEMENT AND GENERAL (CORPORATE RECORDS, MEETING MINUTES, GOVERNANCE SUPPORT): APPROXIMATELY 1 HOUR PER WEEK (APPROXIMATELY 6%) THIS ALLOCATION REFLECTS THE BASIS USED FOR THE FUNCTIONAL EXPENSE ALLOCATION OF THE SECRETARY'S COMPENSATION IN PART IX. FORM 990, PART VIII, LINES 2A AND 2B PROGRAM SERVICE REVENUE REVENUE REPORTED UNDER BUSINESS CODES 459210 AND 455000 CONSISTS OF SALES OF THE INSTITUTE'S EDUCATIONAL PUBLICATIONS AND MISSION-RELATED MERCHANDISE THAT DIRECTLY FURTHER THE ORGANIZATION'S EXEMPT EDUCATIONAL PURPOSE UNDER IRC SECTION 501(C)(3). THESE ACTIVITIES ARE SUBSTANTIALLY RELATED TO THE PERFORMANCE OF EXEMPT FUNCTIONS; ACCORDINGLY, NO UNRELATED BUSINESS INCOME IS REPORTED AND NO FORM 990-T IS REQUIRED. FORM 990, PART IX, LINE 11G CONTRACTORS - VIDEO PRODUCTION, EDITORS, & RESEARCH: PROGRAM SERVICE EXPENSES 161,755. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 13,472. TOTAL EXPENSES 175,227.