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Illinois Policy Institute ran $2.5 million deficit in 2022 as revenues fell by almost half, but group anticipates rebound

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* I get lots of emails every day and some pique my interest more than others. This one, slightly edited for style, was about the Illinois Policy Institute as well as its companion 501(c)(4), the Government Accountability Alliance…

IPI’s 2022 tax filing (attached) shows their revenue is down by nearly half, from $9.9M in 2021 to $5.2M in 2022. They ran a $2.5M deficit in 2022 (!). Their c4 arm’s revenue was flat, so the money isn’t being shifted there.

Also, notably, the 2022 IRS filing for the Ed Uihlein Family Foundation (attached) shows no contribution to IPI in 2022. Uihlein gave IPI $1.5M in 2021 (attached p.37) and more than $19M since 2010 … So Uihlein pulling out certainly explains part of the big drop.

Grant funding from the Ed Uihlein Family Foundation was down across the board, from $18.4M in 2021 to $5.5M in 2022. Of course, Uihlein gave a ton to political efforts like Bailey in 2022, so it seems like it might signal a shift for the Uihleins from funding conservative non-profits to just spending directly on races.

The Daily Beast had a good article recently about Uihlein giving to electoral efforts. One of Uihlein’s main spending vehicles is “Restoration for America” which is based in Illinois and led by Doug Truax, who lost to Oberweis in the 2014 senate GOP primary.

* I asked the IPI about the 2022 revenue drop and deficit…

Rich,

Those numbers only reflect the 501(c)(3) [Illinois Policy Institute].

Variations in organizational revenue and expenditures can primarily be attributed to: 1) large, one-time gifts for specific initiatives in 2021 and; 2) increase in expenses on Amendment 1.

Our 2022 revenue between our C3 and C4 totals were similar to those in 2018 and 2019.

We are encouraged by the growth in new supporters we saw in 2023 and we see continuing in 2024, even as many wealthy individuals leave the state. We anticipate a strong year in 2024.

* OK, you can click here to see the IPI’s 990s, and click here to see the IPI’s Government Accountability Alliance’s (GAA) 990s.

The IPI ran some smallish deficits last decade, but nothing close to the $2.51 million deficit it experienced in 2022.

And while the combined revenues for both the IPI and its c4 GAA were similar to those in 2018, there’s been quite a bit of inflation since then. So, the $10.63 million the two organizations raised during 2018 would have been $12.56 million by the end of 2022. That’s $1.59 million more than the groups actually raised in 2022.

* Historical revenues for both the c3 IPI and c4 GAA using those two links above…

posted by Rich Miller
Thursday, Jan 11, 24 @ 1:31 pm

Comments

Sounds like someone needs to take the hint from the invisible backhand of the free market across their face.

Comment by Roadrager Thursday, Jan 11, 24 @ 1:42 pm
If you keep demanding folks to leave, at some point you’ll have no one left.

Comment by Macon Bakin Thursday, Jan 11, 24 @ 1:44 pm
===even as many wealthy individuals leave the state.===

Heh. They can’t help themselves. A narrative is a terrible thing to waste.

Comment by 47th Ward Thursday, Jan 11, 24 @ 1:44 pm
IPI can’t even accept their own numbers.

Comment by don the legend Thursday, Jan 11, 24 @ 1:50 pm
Living the dream, budget deficit experts

Comment by Rabid Thursday, Jan 11, 24 @ 1:51 pm
You mean those bastions of governments should have balanced budgets can’t be bothered to balance their own budget? Egads!

Comment by Osborne Smith III Thursday, Jan 11, 24 @ 1:57 pm
Wirepoints is gonna have a field day with this. Oh. wait.

Comment by Michelle Flaherty Thursday, Jan 11, 24 @ 2:02 pm
Standby for Bishop on WMAY to spin this a great example of leadership and success.

Comment by Give Me A Break Thursday, Jan 11, 24 @ 2:08 pm
The only Illinois exodus around here has been the IPI losing funds.

Comment by Grandson of Man Thursday, Jan 11, 24 @ 2:10 pm
“Standby for Bishop on WMAY to spin this a great example of leadership and success.”

He left WMAY months ago, he does his show live on facebook now lol

Comment by In the know Thursday, Jan 11, 24 @ 2:11 pm
Sounds like IPI’s donors gave them the equivalent of the tax cut they are always advocating for.

Comment by Dance Band on the Titanic Thursday, Jan 11, 24 @ 2:16 pm
They should follow the Governor’s example and balance their books

Comment by Nick Thursday, Jan 11, 24 @ 2:18 pm
IPI finding out that the invisible hand of the free market doesn’t favor propaganda mills that are, in fact, bad at propaganda.

Comment by Will Colquhoun Thursday, Jan 11, 24 @ 2:18 pm
Some folks might call this a death spiral.

Comment by Henry Francis Thursday, Jan 11, 24 @ 2:20 pm
Couldn’t happen to a finer group of peop!e.

Comment by West Side the Best Side Thursday, Jan 11, 24 @ 2:21 pm
Grifters gonna grift, even if in a downward spiral.

Comment by Big Dipper Thursday, Jan 11, 24 @ 2:33 pm
IPI has been preaching for years that government should run like business, balance budgets, live within their means, cut salaries, etc. Then they get a 46% drop in revenue, run a $2.5 million deficit and yet salaries went up 5%. Some Think Tank!

Comment by Vader Thursday, Jan 11, 24 @ 2:39 pm
There are certainly a number of factors, but I think that some credit is due to ProPublica and Mick Dumke as well as Capitolfax which amplified reports of the innerworkings of the IPI conglomerate and how John Tillman and for-profit companies he controlled personally profited.

Why launder your political donations through a “think tank” where Tillman isn’t just taking a cut, but multiple cuts, any Tillman ends up beimg the guy all the insiders kowtow to?

Also, Rauner leaving created a huge hole in Tillman’s cash flow.

Comment by Thomas Paine Thursday, Jan 11, 24 @ 2:39 pm
I’m sure they’ll manage to pull in lots of tax deductible charitable donations, wash them, give Tillman his massive cuts through his outside vendors, and spend the rest on political advocacy. That’s fiscal responsibility, all right.

Comment by Uncle Merkin Thursday, Jan 11, 24 @ 3:16 pm
Karma

Comment by illinifan Thursday, Jan 11, 24 @ 3:49 pm
Out there spending like drunken sailors!

Comment by The problem Thursday, Jan 11, 24 @ 4:58 pm
Sounds like a Rauner-budget deficit and Rauner-bill backlog. I’m sure they’ll have equally magic smoke and mirrors to fill the gap.

Comment by New Day Thursday, Jan 11, 24 @ 5:06 pm
Oh, and bahahahahahaha

Comment by New Day Thursday, Jan 11, 24 @ 5:07 pm
Radical can’t-do on the fundraising. Because folks have stopped buying their lies.

Comment by Give Us Barabbas Thursday, Jan 11, 24 @ 5:17 pm
IPI should just balance their budget by eliminating wasteful spending and tackling corruption. Following their own example, I should not need to provide any more substance in a solution than that.

Comment by Chambana Thursday, Jan 11, 24 @ 5:21 pm