Non-profit

The American Institute for Economic Research

Location:

GT BARRINGTON, MA

Tax ID:

42-121305

Budget (2019):

Revenue: $4,350,200
Expenses: $6,428,704
Assets: $203,380,124

Founded:

1933 [20]

Founder:

Edward C. Harwood [21]

The American Institute for Economic Research is a Massachusetts-based free-market think tank established in 1933 by Edward C. Harwood, an economist who was the vice president at the Massachusetts Institute of Technology. He launched it as a research organization to evaluate ways to avoid another Great Depression. [1]

The institute sponsors research papers, academic programs, workshops, and forums on economic issues.  [2]

In 2020, the AIER supported the “Great Barrington Declaration” in which epidemiologists from Harvard, Oxford, and Stanford challenged the prevailing view that locking down the entire population was the best way to fight the COVID-19 pandemic. [3]

Background

The American Institute for Economic Research is a Massachusetts-based free-market think tank that promotes property rights, limited government, and sound money. [4]

The institute was founded in 1933 and has a primary emphasis on economic research. [5] The institute tries to promote the principles to policymakers, educators, and the general public through publications, education programs, and getting their message out in the media. [6]

In 2020, about 725,866 individuals, institutions, and publishers got reports from the group. More than 10,500 readers visited the AIER website. [7]

In 2020, the AIER also hosted 400 students, scholars, and members of the public to its campus in Massachusetts to attend various workshops, and forums. [8]

Programs

In 2020, the organization spent $2.8 million on research and reports published to push public policies. [9]

The Institute spent $2.1 million on academic programs in which it provided educational opportunities for 9,500 participants and attendees. [10] The education programs include the AIER Summer Fellowship Practicum program for college students. [11] It also included the “Teach the Teachers” program, in which 271 educators completed courses dealing with practical economic topics to serve an estimated 32,520 students. [12]

The institute’s Bastiat Society hosts education events for the general business community in 47 cities around the world. In 2020, the AIER said this program held 197 events that it says attracted about 6,800 people total. [13]

The Sound Money Project conducts research and promotes awareness about monetary stability and financial privacy. Participants in this project contributed 110 articles to the AIER website during 2020. [14]

Great Barrington Declaration

The American Institute for Economic Research supported the “Great Barrington Declaration” in October 2020 during the COVID-19 pandemic. In this declaration, epidemiologists Martin Kulldorff of Harvard University, Sunetra Gupta of Oxford University, and Jay Bhattacharya of Stanford University favored what they called “focused protection” of high-risk populations instead of broad lockdowns of the entire population. [15]

After the “Great Barrington Declaration” came under public attack, AIER made a Freedom of Information Act request and obtained records that found National Institutes of Health Director Francis Collins and National Institutes of Allergy and Infectious Diseases Director Anthony Fauci disparaged the declaration and appeared to recommend a public relations campaign against it. One email shows Collins saying the group was “fringe” and called for “a quick and devastating published take down of its premises.” [16]

Leadership

Brad DeVos is the interim president and the programs director for the American Institute for Economic Research. He was previously the managing director for the Bastiat Society. [17]

Michele Kearns is the vice president of finance for the American Institute for Economic Research. She was previously the executive director of a Connecticut-based nonprofit. [18]

David Waugh is the managing editor for the American Institute for Economic Research. He began working for the group in 2020. He was a fellow at the Mercatus Center and previously worked as an associate for S&P Global Market Intelligence. [19]

References

  1. “Edward C. Harwood.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/edward-c-harwood/ ^
  2. “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  3. Editorial Board. “How Fauci and Collins Shutdown COVID Debate.” The Wall Street Journal. December 21, 2021. Accessed January 14, 2022. https://www.wsj.com/articles/fauci-collins-emails-great-barrington-declaration-covid-pandemic-lockdown-11640129116 ^
  4.  American Institute for Economic Research. Charity Navigator. Accessed January 14, 2022. https://www.charitynavigator.org/ein/042121305 ^
  5. “About AIER.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/about/ ^
  6. “About AIER.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/about/ ^
  7. “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  8. “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  9.  American Institute for Economic Research. Charity Navigator. Accessed January 14, 2022. https://www.charitynavigator.org/ein/042121305 ^
  10. American Institute for Economic Research. Charity Navigator. Accessed January 14, 2022. https://www.charitynavigator.org/ein/042121305 ^
  11. AIER Summer Fellowship Practicum. Drexel University. Accessed January 14, 2022. https://drexel.edu/pennoni/urep/fellowships/finding-fellowships/American_Institute_for_Economic_Research/ ^
  12.  “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  13. “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  14. “American Institute for Economic Research.” Cause IQ. Accessed January 14, 2022. https://www.causeiq.com/organizations/american-institute-for-economic-research,042121305/ ^
  15. Editorial Board. “How Fauci and Collins Shutdown COVID Debate.” The Wall Street Journal. December 21, 2021. Accessed January 14, 2022. https://www.wsj.com/articles/fauci-collins-emails-great-barrington-declaration-covid-pandemic-lockdown-11640129116 ^
  16.  Editorial Board. “How Fauci and Collins Shutdown COVID Debate.” The Wall Street Journal. December 21, 2021. Accessed January 14, 2022. https://www.wsj.com/articles/fauci-collins-emails-great-barrington-declaration-covid-pandemic-lockdown-11640129116 ^
  17.  “Staff.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/staff/ ^
  18.  “Staff.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/staff/ ^
  19. “Staff.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/staff/ ^
  20. “About AIER.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/about/ ^
  21. “Edward C. Harwood.” American Institute for Economic Research. Accessed January 14, 2022. https://www.aier.org/edward-c-harwood/ ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: March 1, 1999

  • 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
    2019 Dec Form 990 $4,350,200 $6,428,704 $203,380,124 $94,382,297 Y $575,129 $70,214 $660,531 $608,068 PDF
    2018 Dec Form 990 $2,222,727 $5,129,945 $184,901,564 $85,497,314 Y $806,095 $28,904 $743,467 $732,339 PDF
    2017 Dec Form 990 $4,875,495 $4,008,116 $200,255,883 $98,637,851 Y $1,932,985 $29,898 $637,127 $600,154
    2016 Dec Form 990 $3,048,172 $4,600,180 $184,892,988 $92,345,408 Y $642,392 $50,230 $472,507 $666,074
    2015 Dec Form 990 $1,947,503 $4,548,603 $173,236,690 $87,097,325 Y $843,702 $45,275 $411,147 $635,217 PDF
    2014 Dec Form 990 $3,161,220 $4,251,220 $180,940,215 $94,626,008 Y $1,617,012 $33,334 $419,326 $532,457 PDF
    2013 Dec Form 990 $2,255,184 $3,556,665 $170,586,261 $86,692,149 N $1,532,888 $42,846 $460,070 $619,492 PDF
    2012 Dec Form 990 $1,518,501 $3,588,964 $163,455,194 $84,550,422 N $869,579 $242,739 $292,824 $473,824 PDF
    2011 Dec Form 990 $3,009,906 $3,270,177 $156,862,203 $84,285,932 N $1,691,979 $421,688 $206,571 $292,511 PDF

    Additional Filings (PDFs)

    The American Institute for Economic Research

    250 DIVISION ST
    GT BARRINGTON, MA 01230-1119