Non-profit

Friends of the Austrian Economics Center (FAEC)

Website:

austriancenter.com/friends-of-the-aec-2

Location:

Carmel, IL

Tax ID:

45-2747476

Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $146,086
Expenses: $98,821
Assets: $351,229

Type:

Non-Profit

Formation:

2012

President:

Chris Talley

President's Salary (2020):

$0 1

References

  1. Friends of the Austrian Economics Center, Return of Organization Exempt from Income Tax (Form 990), 2020, Part VII, Section A, Line 1a.

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The Friends of the Austrian Economics Center (FAEC) is a free-market advocacy organization that supports the work of its partner organization, the Austrian Economics Center (AEC), and aims to further the economic ideas of the free-market Austrian School of economics in society worldwide. 1

The Friends of the Austrian Economics Center seeks to strengthen the relationship between Austria-based Austrian School thinkers and U.S.-based economic thinkers and advocates for policies that support and promote a free-market economy. 2

Activities

The Friends of the Austrian Economics Center supports its partner organization, the Austrian Economics Center (AEC), a Vienna-based think tank that promotes free-market economics and the ideals of a free society. AEC’s projects include Tax Freedom Day, intended to educate Austrians about their tax burdens, the Free Market Road Show, a touring series of conferences and panel discussions, and the European Resource Bank Meeting, an annual meeting of classical liberal and conservative intellectuals, institutes, foundations, and think tanks meant to improve strategies for promoting free markets throughout Europe. 3

FAEC claims that the idea that government should manage the economy has resulted in a culture in the west of servitude and dependence instead of freedom and responsibility. FAEC further claims that expanding government powers to solve the economic problems created by government stands in the way of liberty. The Friends of the Austrian Economics Center intends to use grass-roots education, publications, and network building to spread the economic ideas of liberty and ultimately create a prosperous society. 4

Funding

The Friends of the Austrian Economics Center is funded by donations from individuals, foundations, and businesses. While FAEC does not disclose its donors, tax filings confirm donations from the John Templeton Foundation ($216,915 in 2016), 5 Pharmaceutical Research Manufacturers of America ($25,000 in 2019), 6 and the Americans for Tax Reform Foundation ($11,000 in 2017). 7

Board of Directors

Chris Talley is the president of the board of FAEC, a trustee of the Foundation for Economic Education, 8 and sits on the board of the Institute for Public Relations. 9 Talley is a former president and CEO of Liberty Fund. 10

Terry Anker is the secretary of the board of FAEC, the president of Legacy Fund, and sits on the board of Liberty Fund. Anker is a member of the Mont Pelerin Society and the Association of Private Enterprise Education. 11

Terry Kibbe is co-founder and CEO of Free the People and co-founder of Fight the Power Productions. Kibbe formerly served as a senior advisor to AlternativePAC and as a fundraiser for various organizations, including FreedomWorks, the Competitive Enterprise Institute, and the Cato Institute. 12

Shari Williams is the president of the Leadership Program of the Rockies and the executive director of the Vernon K. Krieble Foundation. Williams sits on the board of the National Taxpayers Union and on the advisory boards of the Atlas Economic Research Foundation and the Heritage Foundation Colorado Committee. 13

John Chisholm is the CEO of John Chisholm Ventures and is a trustee of the Santa Fe Institute. Chisholm  sits on the advisory boards of the Harvard Kennedy School Malcolm Wiener Center for Social Policy, the Atlas Network, and the Gruter Institute for Law and Human Behavior. 14

References

  1. “Friends of the AEC.” Austrian Economics Center. Accessed May 9, 2023. https://austriancenter.com/friends-of-the-aec-2/.
  2. “Friends of the AEC.” Austrian Economics Center. Accessed May 9, 2023. https://austriancenter.com/friends-of-the-aec-2/.
  3. “Mission Statement.” Austrian Economics Center. Accessed May 9, 2023. https://austriancenter.com/mission-statement/
  4. “Friends of the AEC.” Austrian Economics Center. Accessed May 9, 2023. https://austriancenter.com/friends-of-the-aec-2/.
  5. John Templeton Foundation, Return of Private Foundation (Form 990-PF), 2016, Part XV, Line 3.
  6. Pharmaceutical Research & Manufacturers of America, Return of Organization Exempt from Income Tax (Form 990), 2019, Schedule I, Part II.
  7. Americans for Tax Reform Foundation, Return of Organization Exempt from Income Tax (Form 990), 2017, Schedule I, Part II.
  8. Foundation for Economic Education Inc, Return of Organization Exempt from Income Tax (Form 990), 2020, Part VII, Section A, Line 1a.
  9. Institute for Public Relations, Return of Organization Exempt from Income Tax (Form 990), 2020, Part VII, Section A, Line 1a.
  10.  Liberty Fund Inc, Return of Private Foundation (Form 990-PF), 2015, Part VIII, Line 1.
  11. “Terry W. Anker.” The Philadelphia Society. Accessed May 9, 2023. https://phillysoc.org/speakers/terry-w-anker/.
  12. “Terry Kibbe.” Free the People Foundation. Accessed May 9, 2023. https://freethepeople.org/author/tkibbe/.
  13. “Shari D. Williams.” Leadership Program of the Rockies. Accessed May 9, 2023. https://www.leadershipprogram.org/bio/shari-williams/.
  14. “Our Team.” John Chisolm Ventures. Accessed May 9, 2023. https://johnchisholmventures.com/team.
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: September 1, 2012

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Dec Form 990 $146,086 $98,821 $351,229 $0 N $146,013 $0 $73 $0
    2019 Dec Form 990 $106,235 $128,946 $303,964 $0 N $106,068 $0 $167 $0 PDF
    2018 Dec Form 990 $151,454 $86,789 $326,675 $0 N $151,450 $0 $4 $0 PDF
    2017 Dec Form 990 $377,803 $217,644 $261,992 $0 N $377,803 $0 $0 $0 PDF
    2016 Dec Form 990 $173,537 $173,124 $101,853 $0 N $173,537 $0 $0 $0
    2015 Dec Form 990EZ $120,200 $23,829 $101,440 $0 $0 $0 $0 $0 PDF
    2014 Dec Form 990 $20,000 $20,113 $6,368 $0 N $20,000 $0 $0 $0 PDF
    2012 Dec Form 990 $100 $0 $100 $0 N $100 $0 $0 $0 PDF

    Friends of the Austrian Economics Center (FAEC)


    Carmel, IL