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Fiscal Year 2023 Financial Results
Cato’s unaudited financial information for fiscal year 2023 (April 1, 2022, to March 31, 2023) is presented below. Operating revenue of $56,999,000 and operating expenses of $38,418,000 reflect an increase of 26 percent compared with prior year revenue and an increase of 20 percent compared with prior year expenses. The Cato Institute accepts no government funding and is committed to maximizing the resources entrusted to it. Contributions from individuals, foundations, and corporations make possible our ability to drive important policy debates toward individual liberty, limited government, free markets, and peace.
Operating Revenue
Individual
$48,888,000
Foundation
$5,634,000
Corporate
$1,688,000
Program
$368,000
Other Income (Loss)
($421,000)
Total
$56,999,000
Operating Expenses
Program
$28,082,000
Management &
General
General
$5,763,000*
Development
$4,573,000
Total
$38,418,000
Assets
Cash & Equivalents
$44,296,000
Investments
$50,095,000
Fixed Assets
$32,241,000
Other Assets
$8,415,000
Total
$135,047,000
Liabilities and Net Assets
Liabilities
$2,306,000
Net Assets
$132,741,000
Total
$135,047,000
*Includes $2,925,000 impairment of asset (real property) held for sale
Board of Directors
John A. Allison
Former President & CEO, Cato Institute; Retired Chairman & CEO, BB&T
Baron Bond
CEO, The Foundation Group LLC
Kenneth R. French
Roth Family Distinguished Professor of Finance, Tuck School of Business, Dartmouth College
Robert Gelfond
CEO and Founder, MQS Management LLC
Peter N. Goettler
President and CEO, Cato Institute
David C. Humphreys
President and CEO, TAMKO Building Products Inc.
Laura Holmes Jost
Senior Vice President, Chandler Residential, Inc.
James M. Kilts
Partner, Centerview Capital Holdings; Former CEO, The Gillette Company
James M. Lapeyre Jr.
President, Laitram LLC
Eileen S. Leech
Trustee, The Lazy L Foundation
Ken Levy
Levy Family Fund
John P. Mackey
Co-Founder and Former CEO, Whole Foods Market; Co-Founder and CEO, Love Life!
Howard S. Rich
Chairman, U.S. Term Limits
Robert A. Taylor
CEO, EBC Management
Fred Young
Former Owner, Young Radiator Company
Directors Emeritus
K. Tucker Andersen
Frank Bond†
William A. Dunn
Ethelmae C. Humphreys†
David H. Koch†
Robert A. Levy
John C. Malone
William A. Niskanen†
David H. Padden†
Donald G. Smith†
Frederick W. Smith
Board list as of May 2023
†Deceased
†Deceased