﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-06-25T10:57:05-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>141800427</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CUSACK &amp; COMPANY CPA'S LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>7 AIRPORT PARK BLVD</AddressLine1Txt>
        <CityNm>LATHAM</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>12110</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>141737256</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>FISCAL POLICY INSTITUTE INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>FISC</BusinessNameControlTxt>
      <PhoneNum>5187494625</PhoneNum>
      <USAddress>
        <AddressLine1Txt>540 BROADWAY</AddressLine1Txt>
        <CityNm>ALBANY</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>12207</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>EMILY EISNER</PersonNm>
      <PersonTitleTxt>ACTING EXEC DIR 2026</PersonTitleTxt>
      <PhoneNum>3148983881</PhoneNum>
      <SignatureDt>2026-06-25</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOHN A CRISCONE CPA</PreparerPersonNm>
      <PTIN>P00964913</PTIN>
      <PhoneNum>5187863550</PhoneNum>
      <PreparationDt>2026-06-25</PreparationDt>
      <SelfEmployedInd>X</SelfEmployedInd>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990 documentId="RetDoc2" referenceDocumentId="RetDoc5">
      <AddressChangeInd>X</AddressChangeInd>
      <PrincipalOfficerNm>EMILY EISNER</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>540 BROADWAY</AddressLine1Txt>
        <CityNm>ALBANY</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>12207</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>1421546</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>FISCALPOLICY.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1991</FormationYr>
      <LegalDomicileStateCd>NY</LegalDomicileStateCd>
      <ActivityOrMissionDesc>COMMITTED TO IMPROVING PUBLIC POLICIES AND PRIVATE PRACTICES TO BETTER THE ECONOMIC AND SOCIAL CONDITIONS OF ALL NEW YORKERS. FOUNDED IN 1991, FPI IS COMMITTED TO CREATING A STRONG ECONOMY IN WHICH PROSPERITY IS SHARED BY ALL NEW YORKERS.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>9</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>9</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>6</TotalEmployeeCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>453403</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>1340786</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>49000</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>80500</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>20436</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>260</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>23325</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>546164</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>1421546</CYTotalRevenueAmt>
      <CYGrantsAndSimilarPaidAmt>0</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>478815</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>683294</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>14263</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>213164</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>92778</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>691979</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>776072</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>-145815</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>645474</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>829557</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>1316093</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>211521</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>52583</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>618036</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>1263510</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <MissionDesc>COMMITTED TO IMPROVING PUBLIC POLICIES AND PRIVATE PRACTICES TO BETTER THE ECONOMIC AND SOCIAL CONDITIONS OF ALL NEW YORKERS. FOUNDED IN 1991, FPI IS COMMITTED TO CREATING A STRONG ECONOMY IN WHICH PROSPERITY IS SHARED BY ALL NEW YORKERS.</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>619786</ExpenseAmt>
      <RevenueAmt>80500</RevenueAmt>
      <Desc>THE FISCAL POLICY INSTITUTE IS A NONPARTISAN RESEARCH AND EDUCATION ORGANIZATION THAT FOCUSES ON THE TAX, BUDGET, AND ECONOMIC ISSUES THAT AFFECT THE QUALITY OF LIFE AND WELL-BEING OF NEW YORK STATE RESIDENTS. FPI'S WORK IS INTENDED TO FURTHER THE DEVELOPMENT AND IMPLEMENTATION OF PUBLIC POLICIES THAT CREATE A STRONG STATE ECONOMY IN WHICH PROSPERITY IS BROADLY SHARED. FPI PROMOTES PUBLIC AND GOVERNMENTAL UNDERSTANDING OF THE FISCAL AND ECONOMIC ISSUES FACING NEW YORKERS BY CONDUCTING AND PUBLISHING RESEARCH AND ANALYSIS, DISSEMINATING ITS WORK IN PRINT, RADIO, TELEVISION, AND SOCIAL MEDIA, AND HOLDING CONFERENCES AND INFORMATIONAL MEETINGS, AMONG OTHER MEANS OF PUBLIC EDUCATION.</Desc>
      <TotalProgramServiceExpensesAmt>619786</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc6">true</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1">true</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc3">false</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc3">false</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc3">false</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc3">false</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd referenceDocumentId="RetDoc3">false</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc3">false</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc3">false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc3">false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc3">false</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc3">false</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc3">true</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc3">true</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc3">false</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <ForeignActivitiesInd>false</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>false</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>false</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
      <ScheduleJRequiredInd referenceDocumentId="RetDoc4">true</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>false</PYExcessBenefitTransInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>false</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>false</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>true</ScheduleORequiredInd>
      <IRPDocumentCnt>1</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <EmployeeCnt>6</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>true</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>false</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>false</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>false</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
      <Form8899Filedind>false</Form8899Filedind>
      <Form1098CFiledInd>false</Form1098CFiledInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>false</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>9</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>9</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>false</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>false</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>false</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>true</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>true</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>true</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>true</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>true</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>true</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>false</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>false</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>NY</StatesWhereCopyOfReturnIsFldCd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>DAVID LEVIN CAREY CO</PersonNm>
        <PhoneNum>6464605509</PhoneNum>
        <USAddress>
          <AddressLine1Txt>658 PECONIC AVENUE</AddressLine1Txt>
          <CityNm>WEST BABYLON</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>11704</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>NATHAN GUSDORF</PersonNm>
        <TitleTxt>EXEC DIRECTO</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>161751</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>4853</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>EMILY EISNER</PersonNm>
        <TitleTxt>ACTING EXEC</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DEBIPRIYA CHATTERJEE</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BRIAN MCDONNELL</PersonNm>
        <TitleTxt>VICE CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>NANCY RANKIN</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>KATE BRESLIN</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOE DONAHUE</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PETER SAVAGE</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>FRAN TURNER</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ELIE WARD</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHRISTINE D'ONOFRIO PHD</PersonNm>
        <TitleTxt>BOARD MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>161751</TotalReportableCompFromOrgAmt>
      <TotalOtherCompensationAmt>4853</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>true</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <AllOtherContributionsAmt>1340786</AllOtherContributionsAmt>
      <TotalContributionsAmt>1340786</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>CONTRACTS &amp; CONSULTING INCOME</Desc>
        <TotalRevenueColumnAmt>80500</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>80500</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>80500</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>260</TotalRevenueColumnAmt>
        <ExclusionAmt>260</ExclusionAmt>
      </InvestmentIncomeGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>1421546</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>80500</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>260</ExclusionAmt>
      </TotalRevenueGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>161752</TotalAmt>
        <ProgramServicesAmt>132636</ProgramServicesAmt>
        <ManagementAndGeneralAmt>25881</ManagementAndGeneralAmt>
        <FundraisingAmt>3235</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>376829</TotalAmt>
        <ProgramServicesAmt>309000</ProgramServicesAmt>
        <ManagementAndGeneralAmt>60292</ManagementAndGeneralAmt>
        <FundraisingAmt>7537</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>15649</TotalAmt>
        <ProgramServicesAmt>12832</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2504</ManagementAndGeneralAmt>
        <FundraisingAmt>313</FundraisingAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>87095</TotalAmt>
        <ProgramServicesAmt>71418</ProgramServicesAmt>
        <ManagementAndGeneralAmt>13935</ManagementAndGeneralAmt>
        <FundraisingAmt>1742</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>41969</TotalAmt>
        <ProgramServicesAmt>34415</ProgramServicesAmt>
        <ManagementAndGeneralAmt>6715</ManagementAndGeneralAmt>
        <FundraisingAmt>839</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>25142</TotalAmt>
        <ManagementAndGeneralAmt>25142</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>10000</TotalAmt>
        <ProgramServicesAmt>10000</ProgramServicesAmt>
      </FeesForServicesOtherGrp>
      <OfficeExpensesGrp>
        <TotalAmt>12846</TotalAmt>
        <ProgramServicesAmt>10534</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2055</ManagementAndGeneralAmt>
        <FundraisingAmt>257</FundraisingAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>11004</TotalAmt>
        <ProgramServicesAmt>9023</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1761</ManagementAndGeneralAmt>
        <FundraisingAmt>220</FundraisingAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>3562</TotalAmt>
        <ProgramServicesAmt>2921</ProgramServicesAmt>
        <ManagementAndGeneralAmt>570</ManagementAndGeneralAmt>
        <FundraisingAmt>71</FundraisingAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>7239</TotalAmt>
        <ProgramServicesAmt>7239</ProgramServicesAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>17744</TotalAmt>
        <ProgramServicesAmt>17744</ProgramServicesAmt>
      </ConferencesMeetingsGrp>
      <InsuranceGrp>
        <TotalAmt>2468</TotalAmt>
        <ProgramServicesAmt>2024</ProgramServicesAmt>
        <ManagementAndGeneralAmt>395</ManagementAndGeneralAmt>
        <FundraisingAmt>49</FundraisingAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>OUTSIDE SERVICES</Desc>
        <TotalAmt>2238</TotalAmt>
        <ManagementAndGeneralAmt>2238</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>BANK FEES</Desc>
        <TotalAmt>535</TotalAmt>
        <ManagementAndGeneralAmt>535</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>776072</TotalAmt>
        <ProgramServicesAmt>619786</ProgramServicesAmt>
        <ManagementAndGeneralAmt>142023</ManagementAndGeneralAmt>
        <FundraisingAmt>14263</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>158408</BOYAmt>
        <EOYAmt>451711</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>576816</BOYAmt>
        <EOYAmt>622076</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>80000</BOYAmt>
        <EOYAmt>215000</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>12000</BOYAmt>
        <EOYAmt>25000</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>2333</BOYAmt>
        <EOYAmt>2306</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <TotalAssetsGrp>
        <BOYAmt>829557</BOYAmt>
        <EOYAmt>1316093</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>51521</BOYAmt>
        <EOYAmt>52583</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>160000</BOYAmt>
      </DeferredRevenueGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>211521</BOYAmt>
        <EOYAmt>52583</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>578036</BOYAmt>
        <EOYAmt>1098510</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>40000</BOYAmt>
        <EOYAmt>165000</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>618036</BOYAmt>
        <EOYAmt>1263510</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>829557</BOYAmt>
        <EOYAmt>1316093</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>645474</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc6">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>483226</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>465293</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>836650</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>453403</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1340786</CurrentTaxYearAmt>
        <TotalAmt>3579358</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>483226</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>465293</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>836650</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>453403</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1340786</CurrentTaxYearAmt>
        <TotalAmt>3579358</TotalAmt>
      </TotalCalendarYear170Grp>
      <PublicSupportTotal170Amt>3579358</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus1YearAmt>20436</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>260</CurrentTaxYearAmt>
        <TotalAmt>20696</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <TotalSupportAmt>3600054</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>260949</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.99430</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.99390</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc3">
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>1421546</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>1421546</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>1421546</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>776072</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>776072</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>776072</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 3, PART X</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HAS NOT RECOGNIZED ANY BENEFITS OR LIABILITIES FROM UNCERTAIN TAX POSITIONS IN THE CURRENT YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="RetDoc4">
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>NATHAN GUSDORF</PersonNm>
        <TitleTxt>EXEC DIRECTOR 2025</TitleTxt>
        <BaseCompensationFilingOrgAmt>161751</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>4853</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>166604</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>COMMITTED TO IMPROVING PUBLIC POLICIES AND PRIVATE PRACTICES TO BETTER THE ECONOMIC AND SOCIAL CONDITIONS OF ALL NEW YORKERS. FOUNDED IN 1991, FPI IS COMMITTED TO CREATING A STRONG ECONOMY IN WHICH PROSPERITY IS SHARED BY ALL NEW YORKERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE CORPORATION E-MAILS A DRAFT COPY OF FORM 990 TO THE BOARD MEMBERS FOR THEIR REVIEW, COMMENTS AND APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>FISCAL POLICY INSTITUTE HAS A CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS AND ALL EMPLOYEES ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST ACKNOWLEDGEMENT THAT AFFIRMS THAT THEY UNDERSTAND THE POLICY AND AGREE TO COMPLY WITH IT AT ALL TIMES. ANY CONFLICTS OF INTEREST WILL BE REVIEWED AND HANDLED APPROPRIATELY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE DISCLOSURE OF THE CORPORATIONS' GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>