REASON FOUNDATION ADVANCES A FREE SOCIETY BY DEVELOPING, APPLYING, AND PROMOTING LIBERTARIAN PRINCIPLES, INCLUDING INDIVIDUAL LIBERTY, FREE MARKETS, AND THE RULE OF LAW. WE USE JOURNALISM AND PUBLIC POLICY RESEARCH TO INFLUENCE THE FRAMEWORKS AND ACTIONS OF POLICYMAKERS, JOURNALISTS, AND OPINION LEADERS.
Key facts about The Reason Foundation
- EIN
- 95-3298239
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $60,000
- Grants made (2025)
- 1
- Average grant
- $60,000
- Median grant
- $60,000
- Total assets
- $29,097,754
- Primary geography
- Arizona (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
How The Reason Foundation gives
- Giving fell 25% from 2022 to 2025. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with The Reason Foundation
- How to evaluate The Reason Foundation as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$29.1M
+13.5% YoY
Annual Giving
$60K
-83.3% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$60K
-83.3% YoY
About The Reason Foundation
Based on IRS filings
The Reason Foundation is a nonprofit organization focused on Education, based in Los Angeles, CA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $29.1M in total assets. In 2025, it awarded 1 grant totaling $60K. Net investment income was $1.1M.
Focus Areas
Ready to take the next step with The Reason Foundation?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 1 itemized 2025 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $29,097,754 | $25,642,938 | $19,398,270 |
| Revenue | $22,810,664 | $23,300,815 | $15,456,947 |
| Expenses | $21,964,556 | $19,863,540 | $17,507,487 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $1,132,319 | $636,234 | $514,953 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2019–2025
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2025
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include Asu Foundation ($60,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ASU FOUNDATION Tempe, AZ | FUTURE OF TRANSIT | $60,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| David Nott | President, CEO | 40 | $407,827 |
| Adrian T Moore | Vice President Policy | 40 | $256,830 |
| Jonathan Graff | Chief Financial Officer | 40 | $250,251 |
| Leonard Gilroy | VP Government Reform | 40 | $250,237 |
| Nicholas Gillespie | Editor at Large | 40 | $247,174 |
| Katherine Mangu-Ward | VP/Editor-In-Chief | 40 | $240,585 |
| Robert Poole | Founder, Transportation Policy | 40 | $240,000 |
| Michael Alissi | VP Operations | 40 | $230,439 |
| Jacqueline Pyke | Director of Development | 40 | $179,167 |
| Aaron Steinberg | Marketing Director | 40 | $179,091 |
| James Epstein | Executive Editor | 40 | $173,481 |
| Carin Mann | Dir of Donor Communications | 40 | $157,826 |
| George F Ohrstrom | Board Chair | 1 | — |
| Theodore Barnett | Trustee | 1 | — |
| Thomas E Beach | Trustee | 1 | — |
| Baron Bond | Trustee | 1 | — |
| Rebecca Dunn | Trustee | 1 | — |
| Linda Edwards | Trustee | 1 | — |
| Jonathan Farber | Trustee | 1 | — |
| Peter Farrell | Trustee | 1 | — |
| Debbi Gibbs | Trustee | 1 | — |
| William Goble | Trustee | 1 | — |
| Thomas W Hazlett | Trustee | 1 | — |
| Brian Hooks | Trustee | 1 | — |
| James D Jameson | Trustee | 1 | — |
| Manuel S Klausner | Trustee | 1 | — |
| James Lintott | Trustee | 1 | — |
| Travis May | Trustee | 1 | — |
| Stephen Modzelewski | Trustee | 1 | — |
| Chris J Rufer | Trustee | 1 | — |
| Raymond Stata | Trustee | 1 | — |
| Kerry Welsh | Trustee | 1 | — |
| Fred M Young Jr | Trustee | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Reason Foundation?
The Reason Foundation is a nonprofit organization focused on Education, based in Los Angeles, CA. It holds $29.1M in total assets as of 2025.
How large is The Reason Foundation?
As of 2025, The Reason Foundation holds $29.1M in total assets with $22.8M in annual revenue. It awarded 1 grant totaling $60K in 2025.
Where does The Reason Foundation operate?
The Reason Foundation has awarded grants in Arizona, Florida, New York.
What size grants does The Reason Foundation award?
In 2025, The Reason Foundation awarded 1 grant totaling $60K — an average of about $60K per grant, based on its IRS Form 990 filings.
What is The Reason Foundation's EIN?
The Reason Foundation's EIN (Employer Identification Number) is 95-3298239. IRS Form 990 filing data is available on this page for 2019–2025.
Explore Open Grants
Browse active grant opportunities in The Reason Foundation's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.