Nonprofit · EIN 54-1436224
MERCATUS CENTER INC
Tax-exempt · ARLINGTON, VA 22201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $48,287,301 | $40,947,240 | $7,340,061 | $43,506,821 | $3,667,797 | $39,839,024 |
| August 31, 2024 | 990 | $39,338,379 | $44,809,520 | -$5,471,141 | $36,765,270 | $4,410,958 | $32,354,312 |
| August 31, 2023 | 990 | $47,446,892 | $49,250,629 | -$1,803,737 | $43,118,804 | $5,523,818 | $37,594,986 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $46,672,267
- Program service revenue
- $5,561
- Investment income
- $1,285,949
- Net rental income
- $271,586
- Net gain from sales of assets
- -$7,787
- Other revenue
- $323,524
Expenses
- Grants and similar amounts paid
- $10,877,082
- Compensation of officers, directors and key employees
- $1,604,214
- Other salaries and wages
- $14,528,230
- Salaries, compensation and benefits (total)
- $18,354,574
- Professional fundraising fees
- $120,000
- Legal fees
- $92,171
- Accounting fees
- $22,660
- Occupancy
- $1,416,725
- Travel
- $2,621,361
- Depreciation
- $209,694
- Program services (functional)
- $36,957,035
- Management and general (functional)
- $2,046,851
- Fundraising (functional)
- $1,943,354
Balance sheet and other
- Total assets, start of year
- $36,765,270
- Total assets, end of year
- $43,506,821
- Total liabilities, end of year
- $3,667,797
- Net assets, end of year
- $39,839,024
- Land, buildings and equipment
- $120,024
- Publicly traded securities
- $2,560,498
- Net assets without donor restrictions
- $25,042,221
- Net assets with donor restrictions
- $14,796,803
- Gross receipts
- $49,941,720
- Employees
- 200
- Volunteers
- 10
- Year formed
- 1987
- State of legal domicile
- VA
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 August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Benjamin Klutsey | Executive Director (from 6/24) Officer | 40 | $354,211 | $27,746 |
| Daniel Butler | Vice President of Development Highest-paid employee | 40 | $341,101 | $27,993 |
| Veronique De Rugy | George Gibbs Chair Project Sr Research Fellow Highest-paid employee | 40 | $318,435 | $21,319 |
| Daniel M Rothschild | Executive Vice President (6/24-10/24) Officer | 40 | $289,617 | $28,877 |
| Eileen Norcross | Vice President of Research Highest-paid employee | 40 | $282,764 | $28,993 |
| Jennifer Zambone | Secretary and Chief Operating Officer Officer | 40 | $274,100 | $11,132 |
| Virgil Henry Storr | Director (SVP of Research & Programs) Trustee or director | 40 | $256,751 | $119 |
| Brett Doyle | Managing Director Highest-paid employee | 40 | $239,887 | $1,761 |
| Alden Abbott | Senior Research Fellow Highest-paid employee | 40 | $240,871 | $760 |
| Gary Leff | Treasurer and Chief Financial Officer Officer | 20 | $199,674 | $21,955 |
| Tyler Cowen | Chairman Trustee or director, Officer | 1 | $128,367 | $0 |
| Donald Boudreaux | Director Trustee or director | 1 | $83,500 | $0 |
| Brendan McCord | Director (from 2/25) Trustee or director | 1 | $0 | $0 |
| Brian Hooks | Director Trustee or director | 1 | $0 | $0 |
| Edwin Meese | Director Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Emily Chamlee-Wright | Director Trustee or director | 1 | $0 |
| Katherine Boyle | Director Trustee or director | 1 | $0 |
| Manuel Johnson | Director Trustee or director | 1 | $0 |
| Richard Fink | Director Trustee or director | 1 | $0 |
| Salen Churi | Director Trustee or director | 1 | $0 |
| Samuel Bowman | Director Trustee or director | 1 | $0 |
| Vernon Smith | Director Trustee or director | 1 | $0 |
990 for the year ended August 31, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Daniel Rothschild | Executive Director Officer | 40 | $503,750 | $32,780 |
| Daniel Butler | Senior Director of Development Highest-paid employee | 40 | $335,129 | $27,347 |
| Veronique De Rugy | Senior Research Fellow Highest-paid employee | 40 | $315,671 | $20,403 |
| Eileen Norcross | VP of Policy Research Highest-paid employee | 40 | $275,929 | $26,551 |
| Jennifer Zambone | Secretary & VP of Operations Officer | 40 | $263,150 | $10,979 |
| Brian Knight | Director of Innovation and Governance Highest-paid employee | 40 | $233,255 | $15,783 |
| Virgil Henry Storr | Director/ VP Academic & Student Programs Trustee or director | 40 | $247,251 | $121 |
| Alden Abbott | Senior Research Fellow Highest-paid employee | 40 | $235,860 | $792 |
| Gary Leff | Treasurer & CFO Officer | 20 | $195,000 | $20,989 |
| Benjamin Klutsey | Executive Director Officer | 40 | $192,466 | $22,009 |
| Tyler Cowen | Chairman Trustee or director, Officer | 1 | $133,378 | $0 |
| Donald Boudreaux | Director Trustee or director | 1 | $96,300 | $0 |
| Richard Fink | Director Trustee or director | 1 | $0 | $0 |
| Vernon Smith | Director Trustee or director | 1 | $0 | $0 |
| Brian Hooks | Director Trustee or director | 1 | $0 | $0 |
| Emily Chamlee-Wright | Director Trustee or director | 1 | $0 | $0 |
| Edwin Meese | Director Trustee or director | 1 | $0 | $0 |
| Manuel Johnson | Director Trustee or director | 1 | $0 | $0 |
| Salen Churi | Director Trustee or director | 1 | $0 | $0 |
| Samuel Bowman | Director Trustee or director | 1 | $0 | $0 |
| Katherine Boyle | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended August 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Daniel Rothschild | Executive Director Officer | 40 | $502,950 | $32,694 |
| Daniel Butler | Senior Director of Development Highest-paid employee | 40 | $334,365 | $16,498 |
| Veronique De Rugy | Senior Research Fellow Highest-paid employee | 40 | $301,734 | $20,790 |
| Eileen Norcross | VP of Policy Research Highest-paid employee | 40 | $270,287 | $27,598 |
| Jennifer Zambone | Secretary & COO Officer | 40 | $250,850 | $10,827 |
| Patrick McLaughlin | Director of Policy Analytics Highest-paid employee | 40 | $233,350 | $10,735 |
| Alden Abbott | Senior Research Fellow Highest-paid employee | 40 | $230,882 | $735 |
| Tyler Cowen | Chairman Trustee or director, Officer | 1 | $225,000 | $0 |
| Virgil Henry Storr | Director/ VP Academic & Student Prog Trustee or director | 40 | $218,784 | $14 |
| Gary Leff | Treasurer & CFO Officer | 20 | $187,000 | $20,932 |
| Donald Boudreaux | Director Trustee or director | 1 | $86,800 | $0 |
| Richard Fink | Director Trustee or director | 1 | $0 | $0 |
| Vernon Smith | Director Trustee or director | 1 | $0 | $0 |
| Brian Hooks | Director Trustee or director | 1 | $0 | $0 |
| Emily Chamlee-Wright | Director Trustee or director | 1 | $0 | $0 |
| Edwin Meese | Director Trustee or director | 1 | $0 | $0 |
| Manuel Johnson | Director Trustee or director | 1 | $0 | $0 |
| Salen Churi | Director Trustee or director | 1 | $0 | $0 |
| Samuel Bowman | Director Trustee or director | 1 | $0 | $0 |
| Katherine Boyle | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3434 WASHINGTON BLVD STE 4, ARLINGTON, VA 22201-4541
- Principal officer (990 for 2024)
- Gary Leff, 3434 Washington Blvd 4th Floor, Arlington, VA 222014508
- Signed the 990
- Gary Leff, Treasurer and CFO
- Phone
- (703) 993-4930
- Website
- www.mercatus.org
- Return prepared by
- Rogers & Company PLLC
Mission
The Center builds and maintains a vibrant community of scholars dedicated to market-oriented thinking and classical liberal principles. We mentor and train up-and-coming scholars and thinkers who will generate ideas and influence society's key institutions.
Program accomplishments
- University Research & Teaching - Supports academic research and faculty activities at George Mason University and elsewhere to advance and apply a research agenda for understanding institutions and change or broadly advance a free and prosperous society.Expenses $19,247,157 · grants $9,526,084 · revenue $2,264
- Applied Research - Conduct economic research of consequence that makes sense of public policy problems and puts forward solutions that maximize individual freedom and prosperity.Expenses $6,722,322 · grants $80,295 · revenue $855
- Strategic Public Engagement - Drives Mercatus's external impact by integrating communications, government relations, publications, talent development, and convening to ensure its ideas reach and persuade key audiences.Expenses $5,019,145 · grants $6,000 · revenue $2,442
- Student Programs - Support Graduate Students at George Mason University, training future scholars and decision-makers to advance and apply a research agenda for understanding institutions and change.Expenses $4,712,079 · grants $1,254,704
- Public Affairs - Seeks to inform alumni, faculty, and supporters about the efforts of the Center and build communication that develops a network of individuals interested in liberty.Expenses $1,256,332 · grants $10,000
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 August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 54-1436224
- 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
- 1988
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Social science (V22Z)
- Assets (IRS master file)
- $43,506,821
- Income (IRS master file)
- $49,941,720
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $48,287,301 | $40,947,240 | $43,506,821 | XML |
| 990 | August 2024 | $39,338,379 | $44,809,520 | $36,765,270 | XML |
| 990 | August 2023 | $47,446,892 | $49,250,629 | $43,118,804 | XML |
| 990 | August 2022 | $50,106,510 | $45,086,723 | $43,899,623 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990 | August 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 54-1436224).
Questions about MERCATUS CENTER INC
- What is the EIN of MERCATUS CENTER INC?
- The employer identification number (EIN) of MERCATUS CENTER INC is 54-1436224.
- Is MERCATUS CENTER INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to MERCATUS CENTER INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MERCATUS CENTER INC 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 MERCATUS CENTER INC due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MERCATUS CENTER INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of MERCATUS CENTER INC?
- The 990 for the year ended August 31, 2025 names Gary Leff.
- Who are the officers and directors of MERCATUS CENTER INC?
- The 990 for the year ended August 31, 2025 lists 22 people; 12 received compensation from the organization, the highest $354,211 (Benjamin Klutsey, Executive Director (from 6/24)).
- How much revenue does MERCATUS CENTER INC have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $48,287,301, expenses of $40,947,240 and total assets of $43,506,821 at year end.
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