Cato Institute
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.
Cato Institute at a glance
In short: Cato Institute gave $227K across 8 grants in 2025 (avg $28K), top state District of Columbia. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $227,000
- +33.5% vs 2024
- Grants made (2025)
- 8
- +60.0% vs 2024
- Average grant
- $28,375
- -16.5% vs 2024
- Median grant
- $22,750
- Total assets
- $190,480,742
- +10.6% vs 2024
- Primary geography
- District of Columbia (26% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Cato Institute funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2025
The largest 2025 recipient was America's Future Foundation ($60K). Together the top 8 received $227K.
Grant Size Distribution
25 grants across all recorded years
The most common grant size was under $50K: 21 grants of 25 (84%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 8 itemized grants.
Cities
How Cato Institute gives
- Giving fell 29% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $55K (2021) to $320K (2022). In 2025 it made 8 grants totaling $227K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| America's Future Foundation Washington, DC | General Support | $60,000 |
| Roots of Progress Beaverton, OR | Event Support | $50,000 |
| American Legislative Exchange Council Arlington, VA | General Support | $34,000 |
| Center for Civil Society Troy, MI | Event Support | $25,000 |
| Students for Liberty McLean, VA | Event Support | $20,500 |
| Young Americans for Liberty Inc Austin, TX | Event Support | $15,000 |
| One America Movement Bowie, MD | Collaboration of Events | $12,500 |
| Young Americans for Liberty Foundation Austin, TX | Event Support | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $190,480,742 | $62,821,387 | $47,370,866 | $227,000 | 8 | $4,688,906 |
| 2024 | $172,218,520 | $71,927,807 | $41,834,120 | $170,000 | 5 | $4,191,898 |
| 2023 | $135,047,209 | $57,666,559 | $37,718,015 | $82,800 | 5 | $1,490,354 |
| 2022 | $116,844,158 | $45,929,682 | $31,337,947 | $320,000 | 4 | $1,002,671 |
| 2021 | $103,817,347 | $43,021,209 | $28,207,239 | $55,386 | 3 | $1,015,860 |
About Cato Institute
Based on IRS filings
Cato Institute is a public charity focused on public and societal benefit, based in Washington, DC. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $190.5M in total assets. In 2025, it awarded 8 grants totaling $227K. Net investment income was $4.7M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Cato Institute is led by Peter Goettler, President & CEO on every filing since 2021; 9 of 23 officers listed in 2025 are compensated.
Officers on the 2025 filing
Peter Goettler
President & CEO
On filings since 2021
40 hrs/week
$518K (2021) → $712K (2025)
James M. Lapeyre Jr.
Director, Chairman & Executive Officer
Director → Chairman, 2023
Chairman → Director, Chairman & Executive Officer, 2025
On filings since 2021
2.5 hrs/week
No compensation reported
Norbert Michel
Vice President, Director, Monetary & Financial
On filings since 2023
40 hrs/week
$227K (2023) → $248K (2025)
Michael Cannon
Director of Health Policy
On filings since 2024
40 hrs/week
$216K (2024) → $226K (2025)
Baron Bond
Director
On filings since 2021
2.5 hrs/week
No compensation reported
David C. Humphreys
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Fred Young
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Howard S. Rich
Director, Vice Chairman & Executive Officer
Director → Director & Vice Chair, 2023
Director & Vice Chair → Director, Vice Chairman & Executive Officer, 2025
On filings since 2021
2.5 hrs/week
No compensation reported
James M. Kilts
Director
On filings since 2021
2.5 hrs/week
No compensation reported
John A. Allison
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Kenneth Levy
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Robert A. Taylor
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Robert Gelfond
Director
On filings since 2021
2.5 hrs/week
No compensation reported
Eileen S. Leech
Director
On filings since 2023
2.5 hrs/week
No compensation reported
John P. Mackey
Director
On filings since 2023
2.5 hrs/week
No compensation reported
Kenneth R. French
Director
On filings since 2023
2.5 hrs/week
No compensation reported
Laura Holmes Jost
Director
On filings since 2023
2.5 hrs/week
No compensation reported
Clark Neily
Senior Vice President for Legal Studies
Vice President & Project Criminal Justice → Senior Vice President for Legal Studies, 2022
On filings since 2021
40 hrs/week
$199K (2021) → $236K (2025)
Harrison Moar
Vice President for Development
Vice President & Development → Vice President for Development, 2024
On filings since 2021
40 hrs/week
$189K (2021) → $220K (2025)
Marissa Delgado
Secretary, Vice President, Finance & CFO
On filings since 2021
40 hrs/week
$153K (2021) → $217K (2025)
Stephen Kurtz
Vice President & Chief Digital Officer
On filings since 2021
40 hrs/week
$267K (2021) → $314K (2025)
Scott Lincicome
Vice President, General Economics & Trade
Director & General Economics → Vice President, General Economics & Trade, 2023
On filings since 2022
40 hrs/week
$203K (2022) → $245K (2025)
Gene Healy
Senior Vice President for Policy
New on the 2025 filing
40 hrs/week
$239K (2025)
Former officers (9)
- Former: Lesley Albanese (2021–2024) — Senior Vice President & Initiatives
- Former: David Boaz (2021–2023) — Executive Vice President
- Former: Jeffrey S. Yass (2021–2023) — Director
- Former: Lewis E. Randall (2021–2023) — Director
- Former: Nancy M. Pfotenhauer (2021–2023) — Director
- Former: Nester R. Weigand Jr. (2021–2023) — Director
- Former: Robert A. Levy (2021–2023) — Chairman
- Former: George Selgin (2021–2022) — Senior Fellow & Director Emeritus
- Former: Rebecca Dunn (2021–2022) — Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $712K, to Peter Goettler (President and CEO). 9 officers or directors reported compensation on that filing.
Frequently asked questions about Cato Institute
How much does Cato Institute give each year?
Cato Institute gave $227K across 8 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $170K across 5 grants.
What is Cato Institute's typical grant size?
Cato Institute's median grant in 2025 was $22,750, and its average grant was $28,375, across 8 grants on its 2025 IRS Form 990.
Where does Cato Institute give grants?
Cato Institute's top state is District of Columbia, with 26% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were Virginia (24%) and Oregon (22%). The most frequent recipient cities were Austin, TX (2 grants).
Does Cato Institute give general operating support?
Yes: 25% of Cato Institute's 2025 grants with a stated purpose (2 of 8) were for general or operating support, per its 2025 IRS Form 990. Recurring purposes include "Event Support" (5 grants).
Who are Cato Institute's largest grantees?
Cato Institute's largest 2025 grantees include America's Future Foundation ($60,000), Roots of Progress ($50,000) and American Legislative Exchange Council ($34,000), according to its 2025 IRS Form 990. Together they received 63% of its itemized 2025 grant dollars.
How large is Cato Institute?
Cato Institute reported $190.5M in total assets on its 2025 IRS Form 990. Its revenue that year was $62.8M.
What is Cato Institute?
Cato Institute is a public charity focused on public and societal benefit, based in Washington, DC. It holds $190.5M in total assets as of 2025.
What is Cato Institute's EIN?
Cato Institute's EIN (Employer Identification Number) is 23-7432162. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS November 9, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS January 31, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS December 11, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS August 9, 2024)
- Updated Form 990 for fiscal year 2025 (received by the IRS August 29, 2025)
- IRS filings on file for fiscal years 2021–2025
Live grants for the work Cato Institute funds
Public, Societal Benefit Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Cato Institute's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
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Arlington, VA
The Charles Koch Institute funds educational programs and dialogue focused on individual liberty, limited government, free markets, and related principles, including classroom education for people affiliated with grantee organizations. Recent filings show grants ranging from about $386,000 to $769,000 total per year, but do not specify typical award sizes or geographic limits. The profile does not state whether it accepts unsolicited requests.
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Pierre F & Enid Goodrich Foundation
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The Pierre F & Enid Goodrich Foundation supported educational activities related to human liberty and individual freedom, with recent grants going to organizations in Indiana. Its giving ranged from about $1.2 million total across 47 grants in 2024 to a single $24.3 million grant in 2025; it did not accept unsolicited requests and dissolved in 2024, distributing its remaining assets to Liberty Fund, Inc.
Assets
—
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Cato Institute down — hundreds of funders to go?