STEADMAN PHILIPPON RESEARCH INSTITUTE

What Steadman Philippon Research Institute does

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2021 to 2022, from $15M to $17M (+14%).

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

Government-grant reliance: 2019 8% · 2020 23% · 2021 32% · 2022 27% · 2023 16% · 2024 15%. Grants only. Government contracts and fees sit inside program revenue.

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 5 of the last 8 reported years ran a deficit.

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Who funds it, year by year

2017 → 2023: the base broadened from 22 funders to 34 funders, grant income rose $403k → $1.1M.

25 of 94 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 72% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

Left out of every figure on this page: $39M from 3 payers (the payer shares this organization's board, largest Vail Clinic Inc % Vhh Accounting Department). These are real filings, and they are not money STEADMAN PHILIPPON RESEARCH INSTITUTE raised.

From the IRS filings of STEADMAN PHILIPPON RESEARCH INSTITUTE’s funders (the co-funder graph). Top 30 of 94 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

STEADMAN PHILIPPON RESEARCH INSTITUTE leans on a few funders — its largest provides 31% of grant income and the top three 63%; half comes from just 2 funders.

77% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund STEADMAN PHILIPPON RESEARCH INSTITUTE.

Largest funder’s share by year: 2017 41% · 2018 83% · 2019 55% · 2020 71% · 2021 29% · 2022 30% · 2023 22% — diversifying over time.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How long its funders stay

36% of STEADMAN PHILIPPON RESEARCH INSTITUTE's funders are still giving 3 years after their first grant; 54% give in more than one year at all.

Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.

Where its funders are

72% of STEADMAN PHILIPPON RESEARCH INSTITUTE's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $3.2M that is directly attributable, 90% of it comes from funders outside Colorado, across 23 states.

Funder states come from each funder’s own filing. $8.5M arriving through sponsors registered in 15 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.