Cato Institute
1000 Massachusetts Ave NW, Washington, DC · IRS data through FY2026
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2026 | $69,195,897 | $50,569,335 | $210,141,742 |
| FY2025 | $62,821,387 | $47,370,866 | $187,075,979 |
| FY2024 | $71,927,807 | $41,834,120 | $170,075,789 |
| FY2023 | $57,666,559 | $37,718,015 | $132,741,205 |
| FY2022 | $45,929,682 | $31,337,947 | $114,160,350 |
| FY2021 | $43,021,209 | $28,207,239 | $101,093,115 |
| FY2020 | $32,506,528 | $31,141,580 | $81,391,291 |
| FY2019 | $30,261,118 | $30,601,421 | $81,421,939 |
| FY2018 | $36,679,802 | $30,381,673 | $81,420,490 |
| FY2017 | $36,889,645 | $30,150,105 | $75,714,601 |
| FY2016 | $27,869,293 | $29,162,114 | $68,974,691 |
| FY2015 | $36,069,847 | $28,246,157 | $70,269,969 |
| FY2014 | $28,350,110 | $24,538,565 | $62,454,980 |
| FY2013 | $22,006,365 | $26,028,845 | $58,731,695 |
Form 990 filings
The returns filed by Cato Institute (EIN 23-7432162), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $55,163,662 | 80% |
| Program service revenue | $285,254 | <1% |
| Other revenue | $13,746,981 | 20% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $40,771,615 | 81% |
| Management & general | $4,077,530 | 8% |
| Fundraising | $5,720,190 | 11% |
What the numbers show
- Contributions & grants made up 80% of total revenue in FY2026.
- Program services accounted for 81% of functional expenses, management & general 8%, and fundraising 11%.
- 81% of functional expenses went to program services in FY2026. That is higher than 36.4% of 22 Public & Societal Benefit organizations in DC.
- Net assets covered about 49.9 months of expenses at the end of the reporting year. That puts it in the 91st percentile among 228 Public & Societal Benefit organizations in DC.
- Total revenue was higher than 97.8% of 230 Public & Societal Benefit organizations in DC.
- Total revenue rose from $22,006,365 in FY2013 to $69,195,897 in FY2026. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2013, FY2016, FY2019).
- The highest revenue on record here is $71,927,807 in FY2024.
- Net assets grew from $58,731,695 to $210,141,742 between FY2013 and FY2026.
- Contributions and grants made up 94% of revenue in FY2013 and 80% in FY2026.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
THE MISSION OF THE CATO INSTITUTE IS TO KEEP THE PRINCIPLES, IDEAS, AND MORAL CASE FOR LIBERTY ALIVE FOR FUTURE GENERATIONS, WHILE MOVING PUBLIC POLICY IN THE DIRECTION OF INDIVIDUAL LIBERTY, LIMITED GOVERNMENT, FREE MARKETS, AND PEACE
IRS status
| Ruling year | 1975 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | W200 — Public & Societal Benefit |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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