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Manhattan Institute for Policy

New York, New York · EIN 13-2912529 · Public & Societal Benefit · tax-exempt since 1977

A

Charity Clarity grade A (score 79.4 of 100), based on the Form 990 for the year ended December 2025.

Graded against 964 public & societal benefit nonprofits with revenue $10M–$50M filing the same form. A = top 10%, B = next 20%, C = middle 40%, D = next 20%, F = bottom 10%.

What goes into the grade

MeasureThis charityScore (0–100)
ReservesMonths of spending covered by unrestricted net assets.14.8 months84
GovernanceBoard independence, key policies and audit, per the 990.99% of practices99
Margin stabilityHow steady the surplus or deficit is year to year.85
Revenue spreadHow much revenue rests on one type of income.96% from one source28
Filing recordOn-time, complete filings, year after year.100%100
Program spendingSelf-reported by the filer.90.1%not scored
Management costsShare of spending.1.0%not scored
Cost to raise $1Fundraising cost per dollar given.$0.09not scored

Scores compare this charity with its peer group; 100 is best. How Charity Clarity rates charities.

Year by year

20162017201820192020202120222023202420242025grey: revenue · green: spending
Year endedFormRevenueSpendingSurplusNet assetsMonths of spendingStaffGrade
Dec 2025Form 990$25.90M$27.12M−$1.23M$33.56M14.8136A
Dec 2024Form 990$5.93M$6.28M−$350K$33.23M63.5131C
Sep 2024Form 990$25.50M$23.61M$1.90M$33.47M17.0103B
Sep 2023Form 990$26.92M$21.58M$5.34M$30.56M17.098B
Sep 2022Form 990$20.28M$17.08M$3.20M$24.68M17.383C
Sep 2021Form 990$16.69M$15.70M$993K$21.13M16.187B
Sep 2020Form 990$18.53M$17.38M$1.15M$18.64M12.988C
Sep 2019Form 990$15.57M$20.16M−$4.59M$17.57M10.584C
Sep 2018Form 990$20.28M$19.69M$586K$21.91M13.486A
Sep 2017Form 990$18.49M$18.83M−$340K$23.65M15.186B
Sep 2016Form 990$21.17M$17.86M$3.31M$23.34M15.783B

From the organisation’s own IRS filings. “Months of spending” is total net assets divided by a month of that year’s spending. A blank grade means that year was not rated.

Read the filings

Every figure here comes from the returns this charity filed with the IRS. These sites show the full returns and more about the organisation:

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