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Nonprofit · EIN 41-2057028

ILLINOIS POLICY INSTITUTE

Tax-exempt · CHICAGO, IL 60606

Financials

$7.4M$7.4M2023$8.1M$7.5M2024
Revenue Expenses · by fiscal year end
Financials of ILLINOIS POLICY INSTITUTE by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$8,092,270$7,481,285$610,985$3,148,910$1,135,577$2,013,333
December 31, 2023990$7,407,587$7,361,727$45,860$2,638,119$1,235,771$1,402,348
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$8,000,069
Program service revenue
$0
Investment income
$90,399
Net gain from sales of assets
-$1,892
Other revenue
$1,802

Expenses

Grants and similar amounts paid
$704,675
Compensation of officers, directors and key employees
$309,601
Other salaries and wages
$2,213,414
Salaries, compensation and benefits (total)
$2,924,075
Professional fundraising fees
$420,000
Legal fees
$32,044
Accounting fees
$19,954
Occupancy
$303,163
Travel
$83,633
Program services (functional)
$5,565,229
Management and general (functional)
$708,132
Fundraising (functional)
$1,207,924

Balance sheet and other

Total assets, start of year
$2,638,119
Total assets, end of year
$3,148,910
Total liabilities, end of year
$1,135,577
Net assets, end of year
$2,013,333
Net assets without donor restrictions
$1,393,896
Net assets with donor restrictions
$619,437
Gross receipts
$8,100,469
Employees
0
Volunteers
0
Year formed
2002
State of legal domicile
IL

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.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
MATTHEW PAPROCKIPRESIDENT AND CEO
Officer
28$279,426$108,666$38,325
AUSTIN JACKVP OF EXTERNAL RELATIONS
Highest-paid employee
38$179,387$11,450$33,809
AMY KORTEEXECUTIVE VP
Highest-paid employee
30$133,196$42,062$6,570
JAMES LONGVP OF GOVERNMENT AFF
Highest-paid employee
24$77,270$55,955$37,643
CHRISTOPHER ANDRIESENVP OPERATIONS
Highest-paid employee
28$91,016$35,395$42,931
HILARY YELVINGTONSENIOR VICE PRESIDENT
Highest-paid employee
30$120,014$37,899$5,755
JOHN TILLMANCHAIRMAN
Trustee or director, Officer
5$0$0$0
MARK MILLERSECRETARY
Trustee or director, Officer
1$0$0$0
ART MARGULISTREASURER
Trustee or director, Officer
1$0$0$0
SHERRY STREETDIRECTOR
Trustee or director
1$0$0$0
SARA ALBRECHTDIRECTOR
Trustee or director
1$0$0$0
ED BACHRACHVICE CHAIRMAN
Trustee or director
1$0$0$0
RICHARD WEISSDIRECTOR
Trustee or director
1$0$0$0
CRAIG MANSKEDIRECTOR
Trustee or director
1$0$0$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
MATTHEW PAPROCKIPRESIDENT
Officer
28$258,178$112,454$26,489
AMY KORTEEXECUTIVE VP
Highest-paid employee
30$127,594$42,531$6,157
JAMES LONGVP OF GOVERNMENT AFF
Highest-paid employee
24$82,762$55,175$22,864
HILARY YELVINGTONVP OF COMMUNICATIONS
Highest-paid employee
30$107,000$35,667$5,567
CHRISTOPHER ANDRIESENVP OPERATIONS
Highest-paid employee
28$83,823$35,924$22,139
MAILEE SMITHSTAFF ATTORNEY
Highest-paid employee
30$76,263$25,421$19,906
JOHN TILLMANCHAIRMAN
Trustee or director, Officer
5$0$0$0
MARK MILLERSECRETARY
Trustee or director, Officer
1$0$0$0
ART MARGULISTREASURER
Trustee or director, Officer
1$0$0$0
SHERRY STREETDIRECTOR
Trustee or director
1$0$0$0
SARA ALBRECHTDIRECTOR
Trustee or director
1$0$0$0
ED BACHRACHVICE CHAIRMAN
Trustee or director
1$0$0$0
RICHARD WEISSDIRECTOR
Trustee or director
1$0$0$0
CRAIG MANSKEDIRECTOR
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
300 S RIVERSIDE PLZ STE 1650, CHICAGO, IL 60606-6635
In care of
% JOHN TILLMAN
Principal officer (990 for 2024)
MATTHEW PAPROCKI, 300 S RIVERSIDE PLAZA 1650, CHICAGO, IL 60606
Signed the 990
MATTHEW PAPROCKI, PRESIDENT AND CEO
Phone
(312) 346-5700
Return prepared by
WARADY & DAVIS LLP

Mission

THE INSTITUTE IS A FREE MARKET ORIENTED THINK TANK DEDICATED TO GATHERING, DISSEMINATING, AND EDUCATING ILLINOIS CONSTITUENTS ON LOCAL, STATE, AND FEDERAL PUBLIC POLICY ISSUES FACING ILLINOIS.

990 for the year ended December 31, 2024

Program accomplishments

  • ILLINOIS POLICY INSTITUTE CONDUCTS RESEARCH ON A VARIETY OF ISSUES, INCLUDING FISCAL MATTERS, EDUCATION POLICY, AND GOVERNMENT REFORM. THE INSTITUTE SHARES ITS FINDINGS WITH RELEVANT AUDIENCES VIA POLICY PAPERS, MEDIA APPEARANCES, SPEAKING ENGAGEMENTS, AND OTHER PUBLIC FORUMS. ALL OF THE INSTITUTE'S RESEARCH IS DESIGNED TO BETTER EDUCATE AND BENEFIT ILLINOIS RESIDENTS, TAXPAYERS, MEDIA, AND GOVERNMENT OFFICIALS ON THE POLICIES CONFRONTING ILLINOIS.
    Expenses $5,565,229 · grants $704,675

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-2057028
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
2003
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,148,910
Income (IRS master file)
$8,100,469

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$8,092,270$7,481,285$3,148,910XML
990December 2023$7,407,587$7,361,727$2,638,119XML
990December 2022$5,289,743$7,796,504$2,835,179IRS
990December 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990December 2018–––IRS
990December 2017–––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 41-2057028).

Questions about ILLINOIS POLICY INSTITUTE

What is the EIN of ILLINOIS POLICY INSTITUTE?
The employer identification number (EIN) of ILLINOIS POLICY INSTITUTE is 41-2057028.
Is ILLINOIS POLICY INSTITUTE tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
Are donations to ILLINOIS POLICY INSTITUTE tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ILLINOIS POLICY 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 ILLINOIS POLICY 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 ILLINOIS POLICY 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 ILLINOIS POLICY INSTITUTE?
The 990 for the year ended December 31, 2024 names MATTHEW PAPROCKI.
Who are the officers and directors of ILLINOIS POLICY INSTITUTE?
The 990 for the year ended December 31, 2024 lists 14 people; 6 received compensation from the organization, the highest $279,426 (MATTHEW PAPROCKI, PRESIDENT AND CEO).
How much revenue does ILLINOIS POLICY INSTITUTE have?
On its 990 for the year ended December 31, 2024 it reported revenue of $8,092,270, expenses of $7,481,285 and total assets of $3,148,910 at year end.

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