Nonprofit · EIN 26-0535276
THIRD WAY INSTITUTE
Tax-exempt · WASHINGTON, DC 20036
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $19,278,889 | $22,331,511 | -$3,052,622 | $28,311,002 | $14,977,173 | $13,333,829 |
| December 31, 2023 | 990 | $18,435,203 | $20,439,102 | -$2,003,899 | $31,865,844 | $15,705,983 | $16,159,861 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $17,431,767
- Program service revenue
- $0
- Investment income
- $1,847,122
- Net gain from sales of assets
- $971,469
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $21,902,000
- Compensation of officers, directors and key employees
- $89,960
- Other salaries and wages
- $102,913
- Salaries, compensation and benefits (total)
- $218,813
- Professional fundraising fees
- $0
- Legal fees
- $27,400
- Accounting fees
- $10,000
- Occupancy
- $36,540
- Depreciation
- $4,403
- Program services (functional)
- $22,111,700
- Management and general (functional)
- $213,234
- Fundraising (functional)
- $6,577
Balance sheet and other
- Total assets, start of year
- $31,865,844
- Total assets, end of year
- $28,311,002
- Total liabilities, end of year
- $14,977,173
- Net assets, end of year
- $13,333,829
- Publicly traded securities
- $22,551,003
- Net assets without donor restrictions
- $12,978,886
- Net assets with donor restrictions
- $354,943
- Gross receipts
- $29,636,701
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2006
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JONATHAN COWAN | PRESIDENT Trustee or director, Officer | 4 | $0 | $413,118 | $41,470 |
| MATTHEW BENNETT | SECRETARY Officer | 2 | $0 | $379,453 | $41,140 |
| STEVE J DIETERLE CFO | BOARD TREASURER Trustee or director, Officer | 2 | $0 | $181,205 | $7,215 |
| DAVID HELLER | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| JACQUIE LAWING EBERT | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| THURGOOD MARSHALL JR | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| ROGAN KERSH | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JONATHAN COWAN | PRESIDENT Trustee or director, Officer | 4 | $0 | $413,528 | $38,950 |
| MATTHEW BENNETT | SECRETARY Officer | 2 | $0 | $379,363 | $44,808 |
| BRENDA BETHEA | TREASURER UNTIL APRIL Trustee or director, Officer | 2 | $0 | $252,701 | $11,195 |
| STEVE J DIETERLE CFO | BOARD TREASURER AS OF JUNE Trustee or director, Officer | 2 | $0 | $175,594 | $7,755 |
| DAVID HELLER | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| JACQUIE LAWING EBERT | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| THURGOOD MARSHALL JR | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| ROGAN KERSH | TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1025 CONNECTICUT AVE NW STE 400, WASHINGTON, DC 20036-5423
- In care of
- % JONATHAN COWAN
- Principal officer (990 for 2024)
- JONATHAN COWAN, 1025 CONNECTICUT AVE NW SUITE 400, WASHINGTON, DC 20036
- Signed the 990
- STEVE DIETERLE, CFO AND TREASURER
- Phone
- (202) 384-1700
- Return prepared by
- JM&M
Mission
THIRD WAY INSTITUTE SUPPORTS CHARITABLE AND EDUCATIONAL ACTIVITIES THAT ADVANCE CENTRIST SOLUTIONS TO MAJOR ECONOMIC, NATIONAL SECURITY, ENERGY AND SOCIAL POLICY ISSUES.
Program accomplishments
- THIRD WAY INSTITUTE SUPPORTS THE DEVELOPMENT OF EDUCATIONAL MATERIALS AND EVENTS ON THE POLICY CHALLENGES FACED BY AMERICA, FOCUSING ON A WIDE VARIETY OF POLICY ISSUES.CLIMATE AND ENERGYIN 2024, THIRD WAY'S CLIMATE AND ENERGY PROGRAM HELPED SOLIDIFY THE UNITED STATES' POSITION AS A GLOBAL LEADER IN CLEAN ENERGY INNOVATION AND DEPLOYMENT. THIRD WAY FOCUSED THEIR EFFORTS ON ADDRESSING DEPLOYMENT CHALLENGES, CLARIFYING THE ECONOMIC AND NATIONAL SECURITY BENEFITS OF CLEAN ENERGY, AND SUPPORTING STRATEGIES THAT ACCELERATE PROGRESS. THIRD WAY'S WORK CENTERED ON THREE PRIORITIES: 1) EQUIPPING DECISION-MAKERS WITH DATA AND INSIGHT TO GUIDE THE ENERGY TRANSITION; 2) IDENTIFYING AND ADDRESSING NON-COST BARRIERS TO CLEAN ENERGY DEPLOYMENT; AND 3) INCREASING PUBLIC UNDERSTANDING OF THE BENEFITS OF CLEAN ENERGY.THIRD WAY BRIDGED GAPS IN THE CLEAN ENERGY ECONOMY BY PROVIDING STRATEGIC ANALYSIS AND SOLUTIONS.SOCIAL POLICY AND POLITICSIN 2024, THIRD WAY'S SOCIAL POLICY, EDUCATION AND POLITICS TEAM FOCUSED ON THREE CORE AREAS: 1) DEFINING WHAT AMERICAN WANT FROM WASHINGTON; 2) CENTERING VALUE IN THE HIGHER EDUCATION DEBATE; AND 3) ADDRESSING THREATS ON SOCIAL ISSUES:DEFINING WHAT AMERICANS WANT FROM WASHINGTON: THIRD WAY'S POLITICS TEAM ANSWERED THIS QUESTION BY: --UTILIZING ELECTORAL DATA SOURCES INCLUDING THE CATALIST VOTER FILE, COOPERATIVE ELECTION STUDY, AND AP VOTECAST, TO DRAFT REPORTS ANALYZING AND EXPLAINING THE AMERICAN ELECTORATE AND DIFFERENCES IN OPINION, WORLDVIEW, AND VOTING BEHAVIOR ACROSS STATES AND DISTRICTS WITH A FOCUS ON KEY PRESIDENTIAL AND SENATE STATES AND BATTLEGROUND HOUSE DISTRICTS; --CONDUCTING QUALITATIVE AND QUANTITATIVE PUBLIC OPINION RESEARCH TO BETTER UNDERSTAND WHAT VOTERS PRIORITIZE, HOW THEY THINK ABOUT CURRENT ISSUES UNDER DISCUSSION IN THE ADMINISTRATION AND CONGRESS, AND WHAT THEY WANT FROM CANDIDATES AND POLICYMAKERS; --BUILDING A CASE AGAINST RUNNING A WELL-FINANCED THIRD-PARTY CANDIDATE IN THE 2024 PRESIDENTIAL ELECTION BY EMPLOYING HISTORICAL AND EMPIRICAL DATA TO SHOW THIS CANDIDATE WOULD HAVE NO PATH TO VICTORY AND COULD ONLY PLAY A ROLE AS A SPOILER FOR VOTERS; AND, --TRACKING HOW IDEOLOGICAL DIVERGENT CANDIDATES FARE IN PRIMARY AND GENERAL ELECTIONS IN 2024 TO CONTINUE YEARS OF WORK SHOWING AMERICANS CONTINUE TO GRAVITATE TO MAINSTREAM CANDIDATES OVER EXTREMISM.CENTERING VALUE IN THE HIGHER EDUCATION DEBATE: THIRD WAY'S EDUCATION TEAM CONTINUES TO LEAD A COORDINATED MOVEMENT TO CHANGE THE FEDERAL POLICY NARRATIVE ON HIGHER EDUCATION FROM COST TO RETURN ON INVESTMENT AND SOCIALIZE A SLATE OF ACTIONABLE, DEFENSIBLE SOLUTIONS TO IMPROVE POSTSECONDARY VALUE, QUALITY, AND ACCOUNTABILITY FOR STUDENTS AND TAXPAYERS. THIRD WAY ADVANCED THESE EFFORTS BY:--HOSTING THE PROGRAM'S LARGEST EVENT TO DATE, THE HIGHER ED VALUE SUMMIT, A CONFERENCE THAT BROUGHT TOGETHER EXPERTS IN THE FIELD, INCLUDING FORMER DEPARTMENT OF EDUCATION UNDER SECRETARY JAMES KVAAL AND OTHER NOTABLE INFLUENCERS, FOR A DAY OF LEARNING AND CONNECTION ON THE BIGGEST BARRIERS TO CENTERING VALUE IN THE INDUSTRY.--CONDUCTING LANDMARK PUBLIC OPINION RESEARCH ON HIGH SCHOOL STUDENTS, DEMONSTRATING THAT YOUNG AMERICANS STILL SEE VALUE IN PURSUING A COLLEGE DEGREE AND UNDERSTANDING THEIR BARRIERS TO THAT PURSUIT. --PUBLISHING THE FOURTH ANNUAL ECONOMIC MOBILITY INDEX, ALONG WITH A DEDICATED WEBSITE FOR OUR VALUE METRICS, TO CELEBRATE COLLEGES AND UNIVERSITIES THAT OPEN THEIR DOORS TO STUDENTS FROM LOW-INCOME BACKGROUNDS AND PRIORITIZE THEIR SUCCESS.--CHAMPIONING THE POSTSECONDARY STUDENT SUCCESS GRANT PROGRAM TO SUPPORT EVIDENCE-BASED COLLEGE RETENTION AND COMPLETION PROGRAMS AND MAKING THE CASE FOR MAKING THIS FUND PERMANENT.--WEIGHING IN ON THE FORMATION OF A NEW COLLEGE ACCREDITOR AND HOW THEY'RE DEVELOPING THEIR ACCREDITING STANDARDS TO HOLD THEM ACCOUNTABLE TO THEIR ROLE IN THE PROCESS OF IMPROVING OUTCOMES FOR STUDENTS. --DEVELOPING POLICY IDEAS FOR IMPROVING THE GRADUATE STUDENT LENDING SYSTEM, WHICH CURRENTLY DRIVES OUR HIGH OUTSTANDING FEDERAL STUDENT DEBT AND TAKES ADVANTAGE OF UNRESTRICTED TAXPAYER DOLLARS.ADDRESSING THREATS ON SOCIAL ISSUES: THIRD WAY REMAINS COMMITTED TO ADDRESSING THREATS TO AMERICAN VALUES AND VULNERABLE POPULATIONS ON KEY SOCIAL AND CULTURAL ISSUES. THIRD WAY EMPLOYED VARIOUS TACTICS TO MAKE PROGRESS ON CRIME, IMMIGRATION, AND LGBT RIGHTS IN THE PAST YEAR.ECONOMICS PROGRAM IN 2024, THIRD WAY'S ECONOMIC PROGRAM FOCUSED ON THREE CORE AREAS: 1) MAKING THE MIDDLE CLASS MORE AFFORDABLE AND ATTAINABLE FOR NON-COLLEGE EDUCATED WORKERS; 2) STRENGTHENING THE AFFORDABLE CARE ACT AND LOWERING HEALTH CARE COSTS; AND 3) EXPANDING ENTREPRENEURIAL OPPORTUNITY IN AMERICA.NATIONAL SECURITY PROGRAMIN 2024, THE NATIONAL SECURITY PROGRAM FOCUSED MOST EXCLUSIVELY ON ARTIFICIAL INTELLIGENCE, BOTH DOMESTICALLY AND AS IT RELATES TO CHINA. IT IS CLEAR NOW THAT AI IS THE NEW ARMS RACE AND THAT BOTH THE UNITED STATES AND CHINA ARE WELL AHEAD OF THE REST OF THE WORLD. EACH COUNTRY HAS A DIFFERENT MODEL ON HOW IT WILL DEVELOP AI AND EACH HAS GOALS ON HOW IT IS REGULATED IN DEPLOYED. US-CHINA ON AI AND THE POWER COMPETITION: MORE THAN EVER, THE US-CHINA COMPETITION WILL BE DECIDED BY DIGITAL TECHNOLOGY AND AI. THE NATIONAL SECURITY PROGRAM HIGHLIGHTED THE IMPORTANCE AND CHALLENGES THE US FACES WITH CHINA. --THE AI RACE WILL BE SHAPED BY THE VALUES EACH COUNTRY HOLDS. THIRD WAY DISSECTED THE MAJOR VALUES AMERICA AND CHINA BRING TO AI INNOVATION AND INFORMED POLICYMAKERS AND THE PUBLIC HOW IT MAY DETERMINE WHO WINS THE AI RACE. --IN THIRD WAY'S PAPER TITLED CLASH OF THE TECH TITANS, WE ARGUED TO THE PUBLIC AND POLICYMAKERS THAT THE FRONTLINES IN THE US-CHINA DIGITAL COMPETITION ARE THE COMPANIES. THIRD WAY EDUCATED THE PUBLIC ON WHAT EACH COMPANY DOES, HOW THEY COMPETE, AND THE THREAT THE CHINESE COMPANIES POSE TO NATIONAL SECURITY AND PRIVACY. --THIRD WAY'S PAPER CHINA'S NERVOUS NEIGHBORS EDUCATED POLICYMAKERS AND THE PUBLIC ON HOW AMERICA'S ALLIANCES ARE DEEP, BUT CHINA'S ARE TRANSACTIONAL. WHILE AMERICA'S NEIGHBORS ARE TRUE FRIENDS AND PARTNERS; CHINA'S NEIGHBORS ARE WARY AND NERVOUS. THIRD WAY EXPLAINED CHINA'S CAPABILITIES OF REPRESSION THROUGH AI, MASS SURVEILLANCE, RELENTLESS CENSORSHIP, AND AUTOMATED DISINFORMATION OPERATIONS THAT THREATEN GLOBAL FREEDOMS;--THIRD WAY MADE THE CASE THAT A DIGITAL PRO-DEMOCRACY MODEL IS NEEDED TO SET INTERNATIONAL NORMS AND STANDARDS TO COMPETE AGAINST THE ONGOING PROLIFERATION OF CHINA'S DIGITAL AUTOCRACY MODEL.ARTIFICIAL INTELLIGENCE: HOW SHOULD POLICY MAKERS VIEW ARTIFICIAL INTELLIGENCE A THREAT, AN OPPORTUNITY, BOTH? THIRD WAY EXPLORED BOTH ENDS OF THE SPECTRUM:--THIRD WAY EDUCATED POLICYMAKERS AND THE PUBLIC ON WHAT IS NEW IN ARTIFICIAL INTELLIGENCE AND ARGUED THAT COMPETITION IS GOOD. --THIRD WAY EXPLORED A NEW AI TOPIC CALLED AGENTIC AI AND EXPLORED THE RAMIFICATION FOR POLICYMAKERS.--SHOULD AI BE DEVELOPED IN A CLOSED OR OPEN MODEL? THIRD WAY ANALYZED THE PLUSSES AND MINUSES OF OPEN SOURCE AI TO HELP POLICYMAKERS BETTER UNDERSTAND THIS COMPLICATED AND TECHNICAL ISSUE. --THIRD WAY DRAFTED MANY OTHER PAPERS ON AI, HELD AND ATTENDED DINNERS FOR POLICYMAKERS AIMED AT EXPLORING THE CONTOURS OF AI, PARTICIPATED IN PANELS, AND MADE MANY MEDIA APPEARANCES.Expenses $22,111,700 · grants $21,902,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 26-0535276
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2009
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Civil rights, social action and advocacy (R05)
- Assets (IRS master file)
- $28,311,002
- Income (IRS master file)
- $29,636,701
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $19,278,889 | $22,331,511 | $28,311,002 | IRS |
| 990 | December 2023 | $18,435,203 | $20,439,102 | $31,865,844 | XML |
| 990 | December 2022 | $16,673,694 | $18,624,669 | $31,095,329 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-0535276).
Questions about THIRD WAY INSTITUTE
- What is the EIN of THIRD WAY INSTITUTE?
- The employer identification number (EIN) of THIRD WAY INSTITUTE is 26-0535276.
- Is THIRD WAY INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
- Are donations to THIRD WAY INSTITUTE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THIRD WAY INSTITUTE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THIRD WAY INSTITUTE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THIRD WAY INSTITUTE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THIRD WAY INSTITUTE?
- The 990 for the year ended December 31, 2024 names JONATHAN COWAN.
- Who are the officers and directors of THIRD WAY INSTITUTE?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does THIRD WAY INSTITUTE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $19,278,889, expenses of $22,331,511 and total assets of $28,311,002 at year end.
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