Nonprofit · EIN 52-1368964
ECONOMIC POLICY INSTITUTE
Tax-exempt · WASHINGTON, DC 20005
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $17,421,520 | $14,224,558 | $3,196,962 | $21,281,763 | $1,647,356 | $19,634,407 |
| December 31, 2024 | 990 | $11,927,401 | $13,581,055 | -$1,653,654 | $19,581,014 | $3,234,448 | $16,346,566 |
| December 31, 2023 | 990 | $16,155,263 | $12,114,104 | $4,041,159 | $21,912,270 | $3,974,147 | $17,938,123 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $16,559,908
- of which government grants
- $1,155,079
- Program service revenue
- $222,778
- Investment income
- $525,599
- Royalties
- $49,174
- Net rental income
- $63,386
- Other revenue
- $113,235
Expenses
- Grants and similar amounts paid
- $4,057,500
- Compensation of officers, directors and key employees
- $513,371
- Other salaries and wages
- $5,787,480
- Salaries, compensation and benefits (total)
- $7,876,845
- Professional fundraising fees
- $0
- Legal fees
- $29,365
- Accounting fees
- $49,842
- Occupancy
- $966,676
- Travel
- $11,316
- Depreciation
- $122,117
- Program services (functional)
- $11,504,232
- Management and general (functional)
- $1,873,867
- Fundraising (functional)
- $846,459
Balance sheet and other
- Total assets, start of year
- $19,581,014
- Total assets, end of year
- $21,281,763
- Total liabilities, end of year
- $1,647,356
- Net assets, end of year
- $19,634,407
- Land, buildings and equipment
- $138,090
- Publicly traded securities
- $1,093,740
- Net assets without donor restrictions
- $5,629,723
- Net assets with donor restrictions
- $14,004,684
- Gross receipts
- $17,421,520
- Employees
- 53
- Volunteers
- 26
- Year formed
- 1984
- State of legal domicile
- DC
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI SHIERHOLZ | PRESIDENT Trustee or director, Officer | 38.75 | $234,679 | $35,880 |
| NAOMI WALKER | VICE PRESIDENT Key employee | 39 | $217,549 | $34,721 |
| LYLE J BIVENS | CHIEF ECONOMIST/DIR. OF RESEARCH Highest-paid employee | 40 | $196,853 | $54,389 |
| MICHELLE KANNAN | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $221,497 | $25,397 |
| ADAM S HERSH | INST. ECONOMIST/RESEARCHER Highest-paid employee | 40 | $208,725 | $37,906 |
| BARBARA J WESTERN | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $182,230 | $56,772 |
| CELINE MCNICHOLAS | DIR. GOVT AFFAIRS/LABOR COUNSEL Highest-paid employee | 40 | $204,060 | $29,412 |
| LIZ SHULER | CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| JULIANNE MALVEAUX | VICE CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| GARY BASS | TREASURER Trustee or director, Officer | 0.1 | $0 | $0 |
| TERESA GHILARDUCCI | SECRETARY Trustee or director, Officer | 0.1 | $0 | $0 |
| JENNIFER EPPS | NOMINATION & GOV. COM., CHAIR Trustee or director | 0.1 | $0 | $0 |
| JULIE SU | MEMBER Trustee or director | 0.1 | $0 | $0 |
| APRIL VERRETT | MEMBER Trustee or director | 0.1 | $0 | $0 |
| RANDI WEINGARTEN | MEMBER Trustee or director | 0.1 | $0 | $0 |
18 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NINA BANKS | MEMBER Trustee or director | 0.1 | $0 |
| ROXANNE BROWN | MEMBER Trustee or director | 0.1 | $0 |
| BRIAN BRYANT | MEMBER Trustee or director | 0.1 | $0 |
| HECTOR CORDERO-GUZMAN | MEMBER Trustee or director | 0.1 | $0 |
| ERNESTO CORTES JR | MEMBER Trustee or director | 0.1 | $0 |
| CLAUDE CUMMINGS | MEMBER Trustee or director | 0.1 | $0 |
| SHAWN FAIN | MEMBER Trustee or director | 0.1 | $0 |
| JEFF FAUX | MEMBER Trustee or director | 0.1 | $0 |
| JOCELYN FRYE | MEMBER Trustee or director | 0.1 | $0 |
| JOSE P GARZA | MEMBER Trustee or director | 0.1 | $0 |
| ELISE GOULD | MEMBER Trustee or director | 0.1 | $0 |
| PRONITA GUPTA | MEMBER Trustee or director | 0.1 | $0 |
| HANNAH HALBERT | MEMBER Trustee or director | 0.1 | $0 |
| ROBERT KUTTNER | MEMBER Trustee or director | 0.1 | $0 |
| LISA LYNCH | MEMBER Trustee or director | 0.1 | $0 |
| LORI PELLETIER | MEMBER Trustee or director | 0.1 | $0 |
| BECKY PRINGLE | MEMBER Trustee or director | 0.1 | $0 |
| LEE SAUNDERS | MEMBER Trustee or director | 0.1 | $0 |
990 for the year ended December 31, 2024: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI SHIERHOLZ | PRESIDENT Trustee or director, Officer | 39.7 | $239,242 | $36,671 |
| NAOMI WALKER | VICE PRESIDENT Key employee | 40 | $220,755 | $35,444 |
| LYLE J BIVENS | CHIEF ECONOMIST/DIR. RESEA Highest-paid employee | 40 | $214,230 | $34,146 |
| EVE E TAHMINCIOGLU | DIR COMMUNICATIONS Highest-paid employee | 40 | $199,587 | $36,964 |
| BARBARA WESTERN | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $203,355 | $31,914 |
| CELINE MCNICHOLAS | DIR. POLICY, GENERAL COUNS Highest-paid employee | 40 | $204,443 | $30,525 |
| VALERIE R WILSON | DIRECTOR OF PREE Highest-paid employee | 40 | $189,218 | $30,273 |
| ELIZABETH H SHULER | CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| JULIANNE MALVEAUX | VICE CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| TERESA GHILARDUCCI | SECRETARY Trustee or director, Officer | 0.1 | $0 | $0 |
| GARY BASS | TREASURER Trustee or director, Officer | 0.1 | $0 | $0 |
| NINA BANKS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| BRIAN BRYANT | MEMBER Trustee or director | 0.1 | $0 | $0 |
| HECTOR CORDERO-GUZMAN | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ERNESTO CORTES JR | MEMBER Trustee or director | 0.1 | $0 | $0 |
| CLAUDE CUMMINGS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JENNIFER EPPS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| SHAWN FAIN | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JEFF FAUX | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JOCELYN FRYE | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JOSE P GARZA | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ELISE GOULD | MEMBER Trustee or director | 0.1 | $0 | $0 |
| PRONITA GUPTA | MEMBER Trustee or director | 0.1 | $0 | $0 |
| HANNAH HALBERT | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ROBERT KUTTNER | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LISA LYNCH | MEMBER Trustee or director | 0.1 | $0 | $0 |
| DAVE MCCALL | MEMBER Trustee or director | 0.1 | $0 | $0 |
| MANUEL PASTOR | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LORI PELLETIER | MEMBER Trustee or director | 0.1 | $0 | $0 |
| BECKY PRINGLE | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LEE SAUNDERS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| APRIL VERRETT | MEMBER Trustee or director | 0.1 | $0 | $0 |
| RANDI WEINGARTEN | MEMBER Trustee or director | 0.1 | $0 | $0 |
990 for the year ended December 31, 2023: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI SHIERHOLZ | PRESIDENT Trustee or director, Officer | 39.7 | $209,231 | $32,313 |
| NAOMI WALKER | VICE PRESIDENT Highest-paid employee | 40 | $197,437 | $31,646 |
| LYLE J BIVENS | CHIEF ECONOMIST/DIR. RESEARCH Highest-paid employee | 40 | $190,434 | $30,425 |
| CELINE MCNICHOLAS | DIR. POLICY, GENERAL COUNSEL Highest-paid employee | 40 | $183,189 | $27,348 |
| EVE E TAHMINCIOGLU | DIR COMMUNICATIONS Highest-paid employee | 40 | $172,598 | $32,816 |
| VALERIE R WILSON | DIR OF PREE Highest-paid employee | 40 | $169,531 | $27,093 |
| ELIZABETH H SHULER | CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| JULIANNE MALVEAUX | VICE CHAIR Trustee or director, Officer | 0.1 | $0 | $0 |
| TERESA GHILARDUCCI | SECRETARY Trustee or director, Officer | 0.1 | $0 | $0 |
| GARY BASS | TREASURER Trustee or director, Officer | 0.1 | $0 | $0 |
| NINA BANKS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| TOM CONWAY | MEMBER Trustee or director | 0.1 | $0 | $0 |
| HECTOR R CORDERO-GUZMAN | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ERNESTO J CORTES JR | MEMBER Trustee or director | 0.1 | $0 | $0 |
| RAY CURRY | MEMBER Trustee or director | 0.1 | $0 | $0 |
| KEITH ELLISON | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JEFF FAUX | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JOCELYN FRYE | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JOSE GARZA | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ELISE GOULD | MEMBER Trustee or director | 0.1 | $0 | $0 |
| JACOB HACKER | MEMBER Trustee or director | 0.1 | $0 | $0 |
| MARY KAY HENRY | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ROBERT JOHNSON | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ROBERT KUTTNER | MEMBER Trustee or director | 0.1 | $0 | $0 |
| WILMA LIEBMAN | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LISA LYNCH | MEMBER Trustee or director | 0.1 | $0 | $0 |
| ROBERT MARTINEZ | MEMBER Trustee or director | 0.1 | $0 | $0 |
| MANUEL PASTOR | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LORI PELLETIER | MEMBER Trustee or director | 0.1 | $0 | $0 |
| BECKY PRINGLE | MEMBER Trustee or director | 0.1 | $0 | $0 |
| LEE SAUNDERS | MEMBER Trustee or director | 0.1 | $0 | $0 |
| CHRISTOPHER SHELTON | MEMBER Trustee or director | 0.1 | $0 | $0 |
| RANDI WEINGARTEN | MEMBER Trustee or director | 0.1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1225 EYE STREET NW 600, WASHINGTON, DC 20005-5960
- Principal officer (990 for 2025)
- HEIDI SHIERHOLZ, 1225 EYE STREET NW 600, WASHINGTON, DC 20005
- Signed the 990
- HEIDI SHIERHOLZ, PRESIDENT
- Phone
- (202) 775-8810
- Website
- WWW.EPI.ORG
- Return prepared by
- GELMAN ROSENBERG & FREEDMAN
Mission
EPI USES THE TOOLS OF ECONOMICS TO BRING THE INTERESTS OF LOW- AND MIDDLE-INCOME WORKERS INTO ECONOMIC POLICY DISCUSSIONS. EPI'S RIGOROUS RESEARCH AND TRANSFORMATIVE IDEAS FORTIFY WORKER ORGANIZING, BUILD A SHARED UNDERSTANDING OF HOW POWER AND POLICY SHAPE ECONOMIC OUTCOMES, AND HELP DRIVE PROGRESSIVE POLICY CHANGE AT EVERY LEVEL OF GOVERNMENT. WE PARTNER WITH NATIONAL AND STATE GRASSROOTS ORGANIZATIONS, ACADEMICS, AND LABOR UNIONS TO ADVANCE OUR MISSION.
Program accomplishments
- ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN): THE ECONOMIC ANALYSIS AND RESEARCH NETWORK (EARN) IS A NETWORK OF RESEARCH AND POLICY ORGANIZATIONS. EARN ADVANCES A WORKER-CENTERED ECONOMY THROUGH STATE AND LOCAL POLICY CHANGE, RIGOROUS RESEARCH, AND COLLABORATION BETWEEN RESEARCHERS, CHAMPIONS, AND COMMUNITY GROUPS ACROSS THE COUNTRY.Expenses $5,970,828 · grants $4,050,000 · revenue $94,785
- RESEARCH: EPI PRODUCES THE HIGHEST QUALITY RESEARCH AND POLICY ANALYSIS, WIELDING THE TOOLS OF ECONOMICS TO ADVANCE THE INTERESTS OF WORKING FAMILIES. PROGRAM ON RACE, ETHNICITY, AND THE ECONOMY (PREE): PREE USES RESEARCH TO EXPLORE AND EXPLAIN HOW RACE, ETHNICITY, AND CLASS INTERSECT TO AFFECT ECONOMIC OUTCOMES IN THE UNITED STATES.Expenses $2,121,588 · grants $7,500 · revenue $105,221
- COMMUNICATIONS: EPI EFFECTIVELY COMMUNICATES ITS IN-DEPTH RESEARCH AND POLICY ANALYSIS IN WAYS THAT CAN BE UNDERSTOOD AND SHARED BY A VARIETY OF AUDIENCES. EPI USES WEB TOOLS, INTERACTIVE MAPS AND CALCULATORS, PODCASTS, VIDEO EXPLAINERS, AND SOCIAL MEDIA TO SHARE OUR RESEARCH AND OUR POLICY ANALYSIS AND RECOMMENDATIONS.Expenses $1,480,084
- POLICY: EPI USES POLICY ANALYSIS AND ADVOCACY TO BUILD POWER FOR WORKING PEOPLE. OUR EXPERTS PROVIDE TESTIMONY, SPEECHES, AND PRESENTATIONS, AND THEY PRODUCE ANALYSES AND REPORTS ON A VARIETY OF ISSUES FACING WORKERS.Expenses $989,234 · revenue $22,772
- PROGRAM ON RACE, ETHNICITY, AND THE ECONOMY (PREE): PREE EXPLORES AND EXPLAINS HOW RACE, ETHNICITY, AND CLASS INTERSECT TO AFFECT ECONOMIC OUTCOMES IN THE UNITED STATES. THIS IS DONE THROUGH RESEARCH, POLICY PAPERS, WORKSHOPS, SPEAKER SERIES, OTHER CONVENINGS, AND SOCIAL MEDIA.Expenses $942,498
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 | 990 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
- 52-1368964
- 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
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Social science (V22F)
- Assets (IRS master file)
- $21,281,763
- Income (IRS master file)
- $17,421,520
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $17,421,520 | $14,224,558 | $21,281,763 | XML |
| 990 | December 2024 | $11,927,401 | $13,581,055 | $19,581,014 | XML |
| 990 | December 2023 | $16,155,263 | $12,114,104 | $21,912,270 | XML |
| 990 | December 2022 | $8,123,876 | $12,164,164 | $18,630,204 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 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 52-1368964).
Questions about ECONOMIC POLICY INSTITUTE
- What is the EIN of ECONOMIC POLICY INSTITUTE?
- The employer identification number (EIN) of ECONOMIC POLICY INSTITUTE is 52-1368964.
- Is ECONOMIC POLICY INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to ECONOMIC POLICY INSTITUTE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ECONOMIC 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 ECONOMIC POLICY INSTITUTE due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECONOMIC POLICY INSTITUTE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of ECONOMIC POLICY INSTITUTE?
- The 990 for the year ended December 31, 2025 names HEIDI SHIERHOLZ.
- Who are the officers and directors of ECONOMIC POLICY INSTITUTE?
- The 990 for the year ended December 31, 2025 lists 33 people; 7 received compensation from the organization, the highest $234,679 (HEIDI SHIERHOLZ, PRESIDENT).
- How much revenue does ECONOMIC POLICY INSTITUTE have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $17,421,520, expenses of $14,224,558 and total assets of $21,281,763 at year end.
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