Just as Mallory accepted the challenge of Everest, so too must we confront the strongest threats to liberty and the greatest obstacles to a free and open society. And not simply because they are there, but because doing so is our moral responsibility.

Since the Enlightenment, the upward march of freedom has propelled humanity forward. And because of the commitment and sacrifices of those who advanced liberty over generations, today we stand as the greatest and most fortunate beneficiaries yet of this progress. It’s our duty, then, to continue that upward march of liberty for the generations that come next. As greater risks to liberty continue to emanate from both left and right, most Americans are ever more disaffected from politics and partisans. Our ability to offer a unique philosophy, position, and voice should inspire Cato and its Sponsors to accept this responsibility—and opportunity—with enthusiasm. The Institute’s work continues to help move policy in the direction of liberty, in areas as diverse as criminal justice, health care, housing regulation and affordability, political reform to safeguard against future January 6ths, and many more. But the Institute plays two other singular and indispensable roles.

First, keeping the principles, ideas, and philosophy of liberty alive for future generations, as embodied in our Statement of Principles. The Statement was crafted by Cato leadership and adopted this year by our Board of Directors, and we’re proud to share it publicly for the first time here.

And second, confronting the biggest and most stubborn threats to freedom. Even—or maybe especially—when the ability to make progress in such areas is uncertain, slow, and daunting. Perhaps the most formidable challenge is unsustainable entitlement programs and reckless fiscal and monetary policies, which will destroy the economic well-being of future generations unless we rein them in. Cato is putting these critical issues back on the map in Washington, and our innovative reform ideas are gaining traction with policymakers.

Likewise, our country has been operating a perilous, feckless foreign policy for decades. It costs America dearly in young lives and treasure, while making us less safe, undermining liberty at home, and fueling the growth of government. Long a lonely voice in opposition, Cato now leads a growing consensus supporting restraint in military intervention while advocating more effective diplomacy and greater economic and cultural integration with the rest of the world.

But these are only two examples. If we aren’t successful in freeing education from its government monopoly, protecting the civil liberties of all Americans, bringing the administrative state to heel, and defending the Constitution and the rule of law, we’ll never realize the free and open society our grandchildren deserve. All the victories liberty achieves in legislatures, administrative agencies, and the courts will be for naught if we shy away from these great challenges.

The Sponsors and partners of Cato, as shown in this report, continue to confer record levels of support on the Institute. This gives us the ability to keep adding firepower to our efforts while ensuring the financial resources to sustain our mission for as long as it takes.

Unlike George Mallory, we needn’t sacrifice our lives conquering these mountains. Nor do we, like our country’s Founders, have to pledge our lives, fortunes, and sacred honor to do so. But it will take an extraordinary and serious commitment to succeed. We’re humbled and inspired that the outstanding men and women of Cato, and the supporters who make their work possible, are up for the challenge.