SCANNED JAN 2 0 2010 Return of Organization Exempt From Income Tax ee rom 990 Under seston 016) Sh soul} efpemra Rarer Coes owt secrere | 2008 coe Boneft trust or private foundation) wiSEoe Seerencutence” |p tre organzaton may have to use a copy ofthis tum to satay state raportng requrements Thapection ‘A Forthe 2008 eslondar year. ortax yearbeginning SEP 1, 2008 endending AUG 31, 2009 8 creer [mae [E Name of xpancaton 1D Employer ientiiction number \eare’ |gmra Mexcatus Center, Inc. (sss, |" bong ausiness As 541436224 Im | See |” Number and street (or P O box mals not delivered to street address) | Room/sute | E Telephone number (tse \itee(3301 North Fairfax Drive 1450 703-993-4930 \Sigsome| to oa ‘end ZIP +4 [G Gross nee § 7,890,227. rlington, VA 22201 H(a) sth a group return Pere TF Name and address of pnncipaloffcer;Gary Leff for atfiates? Colves [X]No Same _as above Ho) Ave al atiiates inciaded?_]¥es [No 1 Taxexemot status: [XK] 50le)(3__)-4 tngert no) [] 49a7iain or C1527 IT*No," attach a ist (see mstuctons) ‘J Website: > www. mercatus-org He) Group exemption number Type of organuation [XJ Corporation [J Trust_ [J Association [J Other Te Year oftormation 199-4] ma state of egal comoie VA Parti] Summary 1 Brefly describe the organization's mission or most significant actwtes. The Center educates students and 8) is ‘an organization that uses sound interdisciplinary research and E| 2 checktns box > [litte organization lecontinued ts operations or deposed of more than 25% of ts assets. 3 | 3 Number of voting members of the governing body (Pat VI, line 1a) 3 8 S| 4 Number of independent ving members ofthe governing body (Pat ine 18) a %| 5. Total number of employees Part V. hme 28) 73 $6 Total number of vountoors estimate t necessary) 6 0 33 70 Tota goss unclated business revenue from Part Vil ne 12,9 re o. Net unrelated bust 76 Oe Prior Year Gurrent Year ¢g| 8 Contrbutons and grants (Pant Vil ine th) 9,033,073.| 7,837, 975- £| Program sence venue (Pat Vil, ne 2a) : a7, 611. 12,309. . 8,333.) 15,200. ee _| 3,089; 21 7,865, 484 13 Grants and similar amounts patd (Part IX, column (A), in 1,541, 443.| 2,352,502. 14 Benefits patd to or for members (Pat IX, column (A) ine 4g| 15. Salas, other compensation, employes Benes Part IX, column (A) tres 510) F977, 972.) 4, 431,397. J) ls pesrocnat trang nee Par crn ee) 8) Totaltncrassng expenses Pat X, column D),tne2s) 564,779. ae 5 47° otnerexcenses Part XK column (A), nes 11041, 11249 3,160, 499 18. Total expenses Add Ines 1947 (nus equal Part IX, column (tne 25) 3,679,837, 19. Revenue ss expenses Subtract ine 18 from ine 12 409, 380. Fa Beginning of Year $3| 20, Tota nse (Pan X, te 16) 6,851,972.| 22) 21 Totalnabites (Par x ne 26) 4,446,563. | 22_Net assets ound balances. Subnet ine 21 from ine 20, 2,405,409. [Parti [Signature Block i STM =lye10 i Senate oats NS Gary Leff, Treasurer Tipe Preparers Tae a = wal are a 12/31/09] smpioes » [J Tanec/imcpne Rogers & Company PLUC oe a EiSmeea 98300 Boone Boulevard, Suite 600 Far ‘Vienna, VA 22182 Proneno 703-893-0300 Have IRS coves ta etn wh the preparer shown above? (see nsstons TXlves_(—]No ttt: 2.08 LHA. For Privacy Act and Paperwork Reduction Act Notice, se the separate instrictions Fox 980 72008) See Schedule 0 for Organization Mission Statement Continuation aeForm 990 2008) Mercatus Center, Inc. 54-1436224 page? [Part i [Statement of Program Service Accomplishments (see mstructions) 11 Bay desenbe the organaton's mision: The Center educates students and is an organization that uses sound interdisciplinary research and application in the human sciences that integrates theory and practice to develop insights and tools that can sustainably advance a free, prosperous, and civil society. 2 Ded the organcation undertake any significant program services ung the year which were ot ksted on the prior Form 990 or 990-627 Coves EX]No It*Yes", describe these new services on Schedule O 3. Did the organzation cease conducting, or make significant changes in how it conducts, any program services? ves EX] UW Yes", descnbe these changes on Schedule 0. 44 Describe the exempt purpose achievements for each of the organizabon's three largest program services by expenses ‘Section 601(6)3) and 801(¢)(4) organizations and saction 4947(aK.}) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, any, foreach program service reported. 40 (Code: V(Expenses$ 1,687,444. inciudng grants ot$ 1,342,607. )Revenue$ University Research & Teaching - Supports academic research and faculty’ activities at George Mason University to advance and apply a research agenda for understanding institutions and change. 8 (Code: }iEapenses$ 1,265,874. mcuanggranisots 970,911. )Ravenves D Student Programs - Support Graduate Students at George Mason University, training future scholars and decision-makers to advance and apply a research agenda for understanding institutions and change. 46 (Cose V(Expenses$ 1,413, 147 mcioang grants of T, 000. \ Revenue $ j Regulatory and Government Accountability Studies’ ~ works within the university setting to improve the state of knowledge about regulations and their impact on society, and about the relationship between transparent and accountable processes and outcomes. ‘Other program services. (Describe in Schedule O) (rpenses$ 4, 305, 315. inctucing grants of 37,984. Revenues 1 8,671, 780+ (Must eqval Pat i, Lne 25, coun B) Form 990 (2008)Form 980 (2008) Mercatus Center, Inc. 54~1436224 1 10 " 0 aa 6 16 w 6 0 page 3 [Part IV] Checklist of Required Schedules Ne to organzaton describe section $01(3) o €947() other than aprvatofoundtion? i1¥es complete Schacuie A 1 Inthe organzation quedo compete Schedule B, Schedule of Contoior? 2 1d the erganzation engage indirect or ncect pli campaign acts on behalf of rin oppostion to cancdates for puble fee? "Yes" conolte Schade ©, Pat! a| |x Section 501(cK9) organizations. Othe organization engage n lbbying actwtes? If -Yes,"competeSchecuiec, Panty [4 | | X_ Section 50164), 5011), and 501(2)(@) organizations ft eganzaton suet to the secon 603%) nce and reporting requrement and pony tx? I "es," complete Schedule. Pat I 5 the organzation maintain any donor aowsed funds o any accounts where donor hav he nh to provide ace conte dtnoutton or nvestmant of amounts euch funds or accounts If "Yes," complete Schedule, Pat s xd the erganzation ecene orhod a conservation easement, cling eaerents to preserve open space the envronment stone land areas or stone stuctres "Ye," complete Schedule Prt I Pls ‘x the erpanzation manta colectons of works ofr, histoncal treasures, or oher sar assets "Ys," complete Sonodl ,Pat it a| |x Od the organization report an amount im Par X, ne 21, seve a a custodian fr amounts ot ten Part X oF prose erect counselng, deot management, credt ropa, or bt nagotishonsorces?I"Yes,"complete Scheduled. Pat — | 9 |_| X Did the ganization hol assets tem, permanent, or qissrendowments "es, compte SchedvieO, Pat V no [1x Did the erpancaton rapt an amount m Prt, ines 10,12 19,18, 025? 11¥es complete Schedule O, Pats Vi, VW IX or Xasaxpcabie ” dite organization receve an audtedfancia sttrent forthe year for which i completing this retun that was ropared in accordance wth GAAP? If "Ys, complete Schedule. Pars XI, and Xl 2 fs the ogee a choo! x descnoedinsecton T7ORSVAIN? Hf "Ye, complete Schedule wf [x Dene organzaton manian anoles, employees, or agents outset ine US? use| [x Dd the oranzaten have aggregate revenues or expenses of more than $10,000 fom grantnskng,tundrasing, busines, and program serce acts outa the US.? "Yes," compete Schedule F Part! sao] | x Od the oranzaton report on Pat X col (Ane 3, more than $5000 of pans or assistance to any rganzaton or entity located ove the Unted Sats? Yes complete Schaal F, Pat | |x Od th oganaton report on Pat column (ne 9, more than $5,000 of aggregate grants or assistance oneal located outed the Unted Sats? I Yon complete Schoo F, Pat I w| |x Dd the organization report more than $15,000 on Pat eolumn (ine 1167 "Ye," complete Schecuie G, Pat ran Od the eranzaton report ove than $16,000 toa on Par Vl nes teand a7 "Yes, complete Senewuie, Part — [xe | |X. Did the organization report more than $15,000 on Part Vill, ine 9a? if "Yes," complete Schedule G, Part Il! 19 x Dd the oranzaton operate one or more hospitals if "Ys," complete Scnedule [20 [Px 0a the organ repr moe than $5,000 on Pat cairn (tne 171 "es complete Scheu Parts landtt [ah Dd the oranzation report more than $5,000 on Pat X cok (Aline 21 "Yes, "complete Sehedtie| Pars lanai — [za || XK 23 BERes a the organization answer "Yes" to Part Vl, Section A, questions 3,4 57 If "Yes," complete Schedule J 1D the organization have a tax-exempt bond issue wth an outstanaing prncipal amount of more than $100,000 as of the last day ofthe year, that wats seued after Decomber 31,2002? If Yes," answar questions 24b-24d and completa Schedule K IFN" goto question 25, e 1s the organization vest any proceeds of tax-exempt bonds beyond a termporary pend exception? 240 | Dic the organization maintain an escrow account other than a refunding escrow at any time dung the year to defease any taxexempt bonds? ic the organization act as an “on behalf of” ssuer for bonds outstanding at any teme during the year? Section 501(c}() and 801(eM) organizations. Did the organization engage in an excess benefit transaction wih 2 ioqualified person dung the year? if "Yes," complete Schedule, Part ic the organization become aware that had engaged in an excess benefit transaction with a disqualified person form a ror year? ifYes,” complete Schedule L, Part) Was aloan to or by a current or former officer, rector, trustee, key employee, highly compensated employee, or tsqualiiog person outstanding as ofthe end ofthe organization's tax year? if "Yas," complete Schedule L, Part I! Did the organization provide a gran or other assistance to an officer, rector, trustee, Key employee, or substantial contnbutor, o to a person related 1o euch an incvidual if "Yes," compete Schedvie L, Parti 27 x Form 990 (2008)Form 990 2008) Mercatus Center, Inc. 54-1436224 paged [Part tv [Checklist of Required Schedules (continues) Yes | No. 28 Dung the tax year, dd any person who 18 a current or former officer, rector, trustee, oF key employee: ‘2 Have a drect business relationship wth the organization (ether than as aa officer, director, trustee, or employee) or an indirect business relationship through ownership of more than 3596 m another entty (nawidualy or colleetwely with other person(s) Isted in Part VI, Section A)? If "Yes," complete Schedve L, Part IV 260 'b Have a forty member who had a rector indirect business relationship wth the organization? "Yes," complete Schedule L, Part IV 28 x © Serve as an officer, rector, trustee, Key employee, partner, member ofan entity (ora shareholder ofa professional corporation) dog business withthe organtation? If "Yes," complete Schedule L, Part IV 20 x 29 Did the organcation receive more than $25,000 in nor-cash contributions? if "Yes," complete Schedule M 29, x 30 Did the organzation recewe contnbutions of art histoncal treasures, or other silar assets, or quatied conservation ‘contributions? I "Yes," complete Schecule M 30 x 31 Did the organzation liquidate, terminate, oF dissolve and ceave operations? "Yes," complete Schedule N, Part 3 x 32 Did the erganzation sel, exchange, cispoee of, o transfer more than 25% of tenet assets? I "Yes," complete ‘Schedule N, Parti 2 x 388._Did the organzation ow 100% of an entity cisregarded as separate rom the organization under Regulations. ‘sections 901.701-2 and 01,7701? I "Yes," complete Schedule R, Part! 33. x ‘34 Was the organtzation related to any taxexempt or taxable ent? "Yes," complete Schedule R, Parts I lV, and V, ine 1 sa x 35. Is any related organcation a controled entity within the meaning of section 512(0)(13)? I "¥es," complete Schedule R, Part V, ine 2 [x 38 Section 501(c}9) organizations. Did the organization make any transfers to.an exempt non-chantable related organization? "Yes," complete Schedule PR, Part V, ine 2 | 37 Dad the organization conduct more than 59% of ts actvties through an enty thats not a related organization and that 1s treated a5 a partnership for federal income tax purposes? If"Yes,” complete Schedule R Part VI sr x For 990 (2008)Form 990 (2008) Mercatus Center, Inc. 54-1436224 pageS [Part v]_ Statements Regarding Other IRS Filings and Tax Compliance Yea [ne te. Enter the number repetedin Box 3 of For 198, Anal Sur and Transl of USS. Information Returns. Enter -0-rf not applicable te 140) © Enter ine numberof Forms W26 melded mine te Ener 9: not pptcale tb ol «Date oxgenzatin comply wth backup wahtoking ues report payments 0 vendors and report gamng | (Gaming venings to pas wners? 20 Ener ne numer ot erployes reported on Form W, Transl of Wage and ax Statements, fie ort anc year enna wth or wn te yon covered bythe return © atleast on report on ine 2, dite orgenzation te al requed federal employment tax etn? | x Note Ite sum of esi and 2 greater than 230, you nay be eqied ofl tna eum ee mss) i (Did the organization have unrelated business gross income of $1,000 or more dunng the year covered by this return? L "¥en: na ed a For 905 forth ea? I" pronde en explanation mn Schedule O ‘At any te dug he clr ear, ed the orgnzation ave ents or signature or oher autor ove 8 {anil acount a foegn county uch aoa benk account, ecumies account or eter nancial coun)? a| |x 11"Yee enter the name el the orn county: i Sitemeter eneaptene an tny erenai fa Fom TF 223, Rap ol Poa Bask nd | Fanci Accounts | ‘52 Was the organization a party to a prohibted tax sheter transaction at any te during the tax year? | se x ® De any texan pany not the egenaton tha twas rapa tm ponte ax shee ranean? > |e € ¥en te question Sac Sb te organzaton Form B66, Daclsuteby Tax Exempt Ent Regarding Prohttes Tax Shot aneacon? se 2 Od te ergenaton cht any conrbutions tha ware ot ox deduct? {e[ 1 © Yen tthe rganzaton lide wh aver eckson an expres eaten tat such controtons or aft wore not tax deductible? Low] 7 Organizations that may receive deductible contributions under section 170(c). | 2 Dane erssnzatonpronde goods or serccsn exchange fr ny auc pro quo conrioton of mor than $75? | |x Yen: tne cxganzaton notte doer of the vale the goods or eres proved” [e © Ded the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required | tote Form 6282? ze| |x 4 1"¥e0"ndate the number of Fos 8282 ted ug the yar 1 Dane ergenaton, rg the yer ecewe any funds rector rectly to pay remus ona perso | benef contac? ralledlr f Did the organization, dunng the year, pay premiums, directly or indirectly, on @ personal benefit contract? cia x 9 Forallcotreutons of quate octal property the organ te Farm 899 as requred? [a A Forcontrovton of a, bows alas, nd te vet, the eganzatn ie a Form 1086 a5 eure? cs 8 Section 01110) end other sponecring organizations maintaining donor advised funds and section 80019) stpporting organizations. Od ne supporting oaeniation, ora fund mantaned by aspensenngorpanzaton have trees snes ting tay tne innate yen? 2 Section 80110) and other sponsoring orgeization malnsining donor advised funds. {De the eran ake ary trade etroutone under econ 49867 ® Odie opencation make a debut oa donor, door ede, ated person? 10 Section 601(c)(7) organizations. Enter: N/A. «Into ees and captal contnoutone cluded on Pat VI ne 12 © Greece, neon Form 880, Pat Vil ne 12 for publ veo ch faces 7 11 Section 501(¢)(12) organizations. Enter N/A. 2. Grssincome tom member or shareholders sia) © Grossincome om other soe (Do not net smcuts die or pad Te ther sources gant mounts Qe orcad tn ter) 1 125 Section 80474) non-exempt charitable truss the organzaton tng Frm 980 he ef Ferm 10817 12 Yen ene the amouat of taxaremgt atures econed acoued dum tneyear N/A | 120] Form 990 (2008)Form 990 2008)_ Mercatus Center, Inc. 54-1436224 _ page6 Part Vi] Governance, Management, and Disclosure (Sections A, 8, and G request nfarmation about poleies not required by the Internal Revenue Code) Section A. Governing Body and Management Yes | No. Foreach "Yes" response ones 2-70 below, and fora "No" response tones 8 or 9b Below, desenbe the crcumstances, process, or changes in Schedule O. Soe nstuctons ‘1a. Enter the number of voting members ofthe governing body 10{ 3 Enter the number of voting members that are independent a» | 8 2 Dicany offer, rector. ruste, or key employee havea family relaonsvp ofa business rlatenship wih anyother cfoer, ectr, trustee, okay emoloyee? 3. the erganzaton delegate conto over management dutes customary performed by or unde the dect superison of oficers, rectors or trustees of Key employees to a management company or oer person? 4 D.ahe erganzaton make any sigticant changes tots orpanzatonal documents since the prot Form 990 was es? Did the organzaton become aware dunn the yer ofa maenaldversion of the oxganzatons assets? © Does the exganzaton have members or stockholders? o_Does the organization have members, stockholders, or other persons who may eect one or more membars of the governing Body? Are any decisions ofthe governing body subject o approval by members, stockholders, or other persons? 8 De the orpanzaton contemperaneousl document the meetings held or waren actions undertaken dung the year by he ftowns: 2 The governing booy? Each commutes wh author to act on Behalf of he governing boey? 82 Does the oiganizaton have local chapters, branches, or afates? b If "Yes, does the organzaton have writen potcies and procedures governing he actives of such chapters, aa and branches to ensure ther operations are consstent wih thoaeof he orgaizaten? o» 10 Was acopy of tne Form 980 pronded tothe erganzaion's governing body before twas fled? A organzstans must | 3Form 990 (2008) Mercatus Center, Inc. 541436224 Pago7 [Part Vil] Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated ‘and Independent Contractors 18 Compete this table for all persons requied to be listed. Use Schedule J2 if adctional space 1 needed. ‘© Lst al ofthe organcation’s current officers, rectors, trustees (whether individuals or organizations), regarcless of amount of compensation, ang current key employees. Enter 0-1n columns (0) (6, and (Ff no compensation was paid. © Lst the organization's five eurrent highest compensated employees (ther than an officer, director, trustee, or key employee) who recetved reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1088-MISC) of more than $100,000 from the crganzation and any related ‘exganzatons. ‘ Lst al ofthe organtzaton’s former officers, key employees, and highest compensated employees who recerved more than $100,000 of reportable compensation from the organization and any related organzations. '* Lista ofthe organization's former directors or trustees that recenved, inthe capacity asa former drectr or trustee of the organcation, ‘more then $10,000 of reportable compensation from the organization and any related organtation. List persons n the following order dividual trustees or directors; nsttutional trustees ofcer: key employees: highest compensated employees, and former such persons. [1 check this box the organization did not compensate any officer, director, trustee, or key employee. = “ 8 ©) ° © ae Tle segs | Postion Reporave | Repo | estates nous | ereccalhat ape | compencaten | compersaton | smeuntat et ‘rm ‘tomes’ | cher week | me erganzators | compensation : B organization | (w2/10994Sc) | fromthe HE] |e |p) | ovencsenso erganzaton allt and related ale lai ie g ‘organizations Tyler Cowen Chairman & CEO 1.00|x| |x of _ 0 Richard H. Fink Director 1.00|x 0.) oO. oO. Manuel H. Johnson Director 1.00|x | 0. 0. oO. Charles G. Koch Director 1.00 |x _ , 0. 0. Vernon L. Smith Director 0.) 0. 0 Frank B. AtKIngoA Director 0. 0. Menlo Smith Director 1.001x 0. 0. oO. Edwin Meese Director 1.00|x 0.) 0. Oo. Brian Hooks Chief Operating Officer 40.00 x 193. 0.) 8,423. Gary D. Leff Treasurer & CFO 20.00 x 75,000. o.| 3,675. Colleen W. Horretta Secretary 16.00 x 35,000. 0. 246. Lawson Bader vice President _ __| 40.00 x 141,250. o.| 3,524. Veronique de Rugy Senior Research Fellow 40.00 x 125,000. o.| 3,524. Dr. Richard Williams Managing Director 40.00 x 155,000. 0.| 3,524. Dr. Jerome Ellig Senior Research Fellow 40.00 x 188,000.| 0.| 3,524. Maurice P. McTigue Vice President 40.00 x 161,250.| 0.| 3,524. ‘zon wee Form 990 2008)Form 990 (2008) Mercatus Center, Inc. 54-1436224 PageB [Part Vil] section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued) a e © © © a Name and tle ‘average eaten Reportable Reportable | Estates hours | (heck hat appy) | compeneaton | compensation | amount oer ‘tom trom tod her wor | oe crgwncstons | comperaston 5 3 organization (w-2/1099-MISC) from the HIE) | |B] | oencsomso eroerzaton HH t 5 ‘and related corponzatone Ele ale [BE ta = bi, 078,250, — 75,560. etal uma of mails fling thse n a) who rocowed mae than $10,000 reportable comganastn tom the conga > 1 vere 2 O4dtneosancaton et any forma oticer, deta or trustee, key employee or ghee compensted employee on tine 1a "Yes complete Schedule Jor uch nc! a|_ |x 4 For any mal sted on net, the sum of reportable compensation end cher compensation rom the opanaon and related orgenzabons greater than $180,0007 "Yes, complete Schedule J for such nda! “ '5 Diary person late on hn 1a recave or actus compensation rom ay Unlated organization for sovces rendered to the omanzaton? "Yes," complete Senecue J fr such person s| |x ‘Section B. Independent Contractors 1 the organization, ‘Complete th table for your five highest compensated independent contractor tha received mre than $100,000 of compensation from a eo © Name and business address Desenption of services Compensation The Hinkey Company 9058 Euclid Avenue, Manassas, VA 20110 ailing services 125,515. Aptify, 1850 K St NW, Suite 350, Database programming Washington,, DC 20006 land support 114,213. Total Fulfillment Services 126 Monroe Turnpike, Trumbull, CT 06611 [tT Consulting 101,125. 2 Total numberof ndependent contractors (neludin those n 1) who received mare than $100,000 compensation from the organzation 3 Form 980 (2008)Fain 990 2008) Mercatus Center, Inc. 5471436224 _ paged [Part Vil | Statement of Revenue @ ® © 52) Totatovenue | Relatedor | uneiated | ,, venue exempttunction | pusmess | ucgarom revenve Torerue | ctor, anne Federated campaigns fe Membership dues 16 Fundratsing events ie Related organizations hai E] © Government grants contibutions) [161 5) + tcerconmuons, 9, as 2} smisramounts otmeuded vow [44 | 7837975 Neremn conmeutens neues as Yt Total. Add nes 19: © 7,837,975.) [Business Cova| [other program sernce revenue Total, Add nes 23:21, > ‘3 Investment income (neluaing dividends, interest, and ‘thar similar amounts) >| 11,816.| 11,816. Income from investment of taxexamet bond proceeds 5 Royates > Real [ 0) Personal Gross Rents Less: rental expenses © Rental ncome or (oss) a ‘ Net rental ncome o oss) > Gross amount from sales of [_(j Securties | _ 0 Omer assets other than inventory [25,236 « Less: coat or other bass ‘and gale expences © Ganor (oss) Net gan or foss) > 493. 493. 18.8. Gross income from fundraising events (not including $ of contributions reported on ine 12). See Part V, tine 18 ° Less: dract expenses » {© Not income or lst) from fundraising events > 8 Gross income from gaming actives. Se Part V, hme 19 2 Less direct expenses ® {© Notincome or loss} from garang actwties, >. 10.2. Gross sales of ventory, ess returns and allowance Less: cost of goods sold » Not income or los} from sales of nent > Miscellaneous Revenue [Business Coos| Other income. 900099 | _15,200.| 15,200. Other Revenue " Alotner revenue Total. Add ines 118114 ® 15,200.) 12 Total Revenue. seine th 70.9.6.5,69,74 8080 0nenire P [7,865,484.[ 15,200. O| 12,305. ek Fou 990 (2008)Form 980 (2008) Mercatus Center, Inc. [Part x] Statement of Functional Expenses Section 501(6}3) and 507(e)(4) organizations must complete all columns. Allother organizations must complete column (A) but are not required to complete columns (8), (C), and (0). ‘Do not include amounts reported on lines 6b, 7,8, 9b, and 106 of Part Vl Total dapenses Progr sence abana 54-1. 436224 page10 Funding 71 Gran and other assistance to governments and corganuations nthe US See Part IV, ne 21 2. Grants and other assistance to indiiduale in ‘the US See Part V, ine 22 2 Grants and other assistance to governments, cexganiations, and incuals outside the U.S. ‘See Par IV, ines 15 and 16 44 Bonofits paid to or for members 5 Compensation of eurent officers, drectors, ‘trustees, and key employees {6 Compensation not cluded above, to dsqualiied etsons 25 dened under section 4858(1}(1)) and persons descnbed im section 4958(¢\2(8) 7 Other salanes and wages '8 Pension plan controutons (clude section 401(k) ana section 403(0) employer contnbutons) 2,352,502, 2,352,502. 327,258. 284,613. 20,245. 22,400. 632,165 3,158,774 225, 7468 247, 643 8 Other employee benefits 209,921.| 182,673. T1,577,| 10 Payrol taxes 262,053.| 233, 100.| 11, 669. 11 Fees forsentces (nonemployeos): 2 Management Leoat © Accounting f @ Lobbying © Prolessionlfundrasing serwces See Pat. ne 17 —__ {Investment management fees 9 Other 556,353.| 481,726. 41,570. 12 Advertzng and promotion 3,354, 3,354. ao 19. Office expenses 490, 656.| 304,040. 13,494 14 information technology 18. Royates 4,857. 16 Occupancy 411,984.| 358,426. 24,719. a7 Travel 216,025.| 211,783.) 18 Payments of travel or enterainment expenses for any federal, state, orlocal pubic offcis : 18 Conferences, conventions, and meetings 519,995.| 513,856. 20. interest _ 21 Payments to afiates = 22 Depreciation, depletion, and amortization 135,244.| 117,663. eid, 9,467. 23. insurance 12,351. 10,745. Tal. 865. 24 Otherexzenses items expenses not covered shove (expanses grouped togtier ana abekd | iscetanetus may na acted 5% of tal pens shown one 2 below). = « Honoraria 423,607.| 419,006. 307. 4,294. » Miscellaneous 20,853. 17,287. 3,148. 418. Software 15,908, 13,912. 919. 1,077. ¢ Property taxes 6,327. 5,504.) 380. 443. Employee recruiting 3,044, 2,816. 228. 1 Alother expenses 25 Tolaltunetonal experses Aosines through zat | 9,604,457.| 8,671, 780.| _367,898.| 564,779. 26 Joint costs. Check here [1 folowing SOP 98-2 Compt ths hn any the organization reported column (8) nt cst rom a combined sducaonal capa and fundraising sototation Fern 990 2008)Form 960 2008) Mercatus Center, Inc. 54-1436224 pagett {Part X [Balance Sheet a ® Begnaing of yoor Endl year 1 Cash-ponanterestbearng 165-| 4 714,531. 2 Saving and temporary cash vestments T,109,137.[2 664,894. 3 Pledges and grants recenabe,aat 4,869, 468.| 9 | 2,931,625. 4 Accounts ecewvable, nat 11,634,[ 4 18,175. ‘5 Recewables rom current and former oftcers, rector, tutes, key cermpoyoes, or ther elated parties, Complete Par lof Schedulo L 5 _ 6 Recetvabes rom other cnqualiied persons (as defined under secton 4959(() ane porcons described in section 4956\c)@NB). Complete Pat of Sehesue * £ | 7 Notes and loans recewable, net [a = 3 | © tnventones for soe or use ® | 9 Prepass expenses and detered charges 75,375.19 29,056. 40a Land, buildings, and equipment cost bess | 108 976,991. bb Less: accumulated deprecation Complete Par Viof Schedule D 10 596,759. 317, 9954] 106 380,232. 41 lovostments-pubicly traded secures 440,542. 107,563 12 vestments -ether secunties, See Part IV, hne 17 13. avestments -programelated. See Part IV, ne 11 14 Intangible assots 15 Other assets, See Part IV, line 11 27, 652.| 27,652. 16 __ Total assets. Add lines 1 through 15 (must equal ine 34) 6,851,972. | 4,873,928. 17 Accounts payable and accrued expenses 752,743.| 138,833. 18 Grants payable 3,615,587,| 4,017,194. 19. Detened verve — 20° Taxexempt bond bits 21. Excrow account abit. Comat Part Vo Schedule D 22 Payables to coment and former oficers dectrs, trustee, Key employes, tigheat compensated employees, and daqualed persons. Coma ar of Sched alee 23. Secured mortgage and otes payable to unated thd partes 23 24 Unsecured notes and loans payabio. ; 24 25 Other liabilities. Complete Part X of Schedule D 78,233.) 25 75,690 26 _ Total liabilities. Add lines 17 through 25. 4,446,563.) 26 4,231,717. ‘Organizations that follow SFAS 117, chock here LK] end complete g | ___ tines 21 through 2, andtines 33 and B | 27 Unvented net assets 195,797. 149,489. B | 23. Tomporaty retretd net assets 209,612. 492,722 & | 29 Permanent rested net assets é Organizations that do not follow SFAS 117, check here PB [_] and 3 | complete ines 30 through 4 J | 30 Captal stock or trust principal, or current funds 30 § | 31 Pacin orcapta’ surplus, land, uleing, o” equipment fund 31 | 92 Retaned earings, endowment accurate mncome, or the hinds 22 2 | aa. Totalnet asus or und balances 2,405, 409.1 ss 642,211. 34__Total lsbilties and net assets/Tund balances 6,851,972] 4 4,873,928. [Part Xi[Financial Statements and Reporting _ Yes Ne 1 Accounting method used to prepare the Form 990. [—]casn [Xi] Accrual [_] other ~ 20 Were the organzation’sfnancial statements compled or reviewed by an independent accountant? 1b Were the organzation’s nancial statements aucited by an independent accountant? {© If*¥es" to ines 29 oF 2b, does the organization have a commtse that assumes responsibilty for oversight of the aud, review, oF complation of financial statements and gelection of an independent accountant? 30 Asa recut ofa federal award, was the organization required to undergo an audi er audits asset forth athe Single Auct ‘Act and OMB Grcular A138? 3a x if Yes, dc the organzation undergo the requred auditor aucts? 36 Tmeon wee08 Form 990 2008)SCHEDULE A Public Charity Status and Public Support nd (Form 990 oF 990-€2) fitnar Rove owen” > attach to Form 990 or Form 990-EZ, Pr See separate instructions. ‘To be completed by all section 501(c)9) organizations and section 4947(3)(1) ronexemat charitable trusts. Name of the organization ‘Employer identification number Mercatus Center, Inc. 54-1436224 [Parti [Reason for Public Charity Status (al organtzstons must complete ths par) (eee natructiong) ‘The organcation i nota prvate foundation because tis (Please check only one organization ) 1 [1 Achurch, convention of churches, or association of churches desenbed in section 170M TAX 2 [1 Aschool described in section 170(0) TAN. (Attach Schedule E) sO 4 [1 Amecicat research organization operated in conjunction wih a hospital described in section 17O(b) THANG ‘Anrospital ora cooperative hospital service organeation descnbed in section 17O(OM TNA. (Attach Schedule H.) Enter the hospta's name, cay, and state: 5 [) Anorgentzaton operated for the benefit of a college or university owned or operated by @ governmental unit described in| ‘section 170(b)(11.A}0W. (Complete Part I!) 6 [J] Ateceral, tate, or local government or governmental unt described in section 170(0)( HAM 7 CX) An organization that normally receives a substantial part of t's support from @ governmental unit or from the general public desenbed in section 170(6)(1 (AN). (Complete Par IL) 8 [J Acommunty trust described in section 170(0)(1(AN(9. (Complete Part Il) 9 (2) Anorganization that normally receives: (1) more than 33 1/3% of ts support from contributions, membership fees, and gross recep from actties related to ts exempt functions - subject to certan exceptions, and (2) no more than 33 1/39% of suppon from gross investment Income and unrelated business taxable income (ess section 11 tax) from businesses acqurred by the organization after June 30, 1975 ‘See section 509(a)(2). (Complete the Part I) [An organization organized and operated exclusively to test for pubte safety. See eection 500(a)4) (cee instructions) 11 [] An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or ‘more publicly supported organizations described in section 50a) or Section 509(a2). See section 50B(a)(3) Check the box that |__(@) 2004 4b) 2005, fe) 2006. 46) 2007, fe) 2008, 9 Total 7. Amounts from line 4 [3730461.| 6561609.| 9630804.| 9033073.| 7837975 .136793922. 18 Gross income from interest, } ‘vidends, payments receved on | ‘secuntis loans, rents, royalties | ‘and income from simiar sources 53,968.| 74,486.| 96,691.| 47,811.| 12,309.| 285,265. 9 Net ncome from unrelated business | { ‘actwites, whether ornotthe | | business i regularly carte on 10 Other ncome. De not include gain ‘ross from the sale of capital ‘assets (Explam in Part IV) 8,421.| 18,519.| 10,764.|__8,333.| 15,200.| 61,237. — 11. Total support. Add ines 7 nrough 10 7 37140424. 12 Gross recepts trom related activites, etc (See structions) 2 64,750. 12. First five years. f the Form 990 is forthe organtzations frst, second, thed, fourth or fifth tax year as a section 501/013) ‘organtation, check this box and stop here > ‘Section C. Computation of Public Support Percentage : 14 Public suppor percentage for 2008 (ine 6, column f) divided by line 17, column 4] 59-80% 18 Public suppor percentage trom 2007 Schedule A, Part IVA, ine 26 15 65.86% 162 93 1/9% support test - 2008. I the organization aid not check the box on ne 13, and ine 14 833 1/3% or mare, check this Box and ‘stop here. The organization qualifies as 8 publicly supported organization > 1b 99 1/8% support test - 2007. I the organization did not chack a box on ne 13 or 16a, and ine 15 16 33 1/3% or more, check this box _and stop here. The organization quaifies as a publicly supported organization -O 17a 10% -ects-and-circumstances test - 2008. I the organization didnot check a box on line 13, 163, or 16b, and line 1418 10% or mora, ‘and f the organization meets the “facts andexcumstances' test, check his box and stop here. Explain n Part IV how the organeation meets the “facts-and-circumstances® test. The organization qualifies as @ publicly supported organization ol b 10% -fects-and-circumstances test - 2007. Ifthe organtation did not check a box onlin 13, 16a, 166, or 17a, and ine 1518 109% ot ‘more, and the organization meets the “facts-anc-ircumatances" tet, check this Box and stop here. Explain in Part IV how the ‘orgencation meets the “factsandcrrcumstances" test. The organization qualifies as a publicly supported organization > 18. Private foundation. the organization did not check a box on ne 13, 183, 16b, 17a, or 17b, check ths box and see mstructions —_ De) ‘Schedule A (Form 990 or 990-E2) 2008‘Schedule A (orm 990 o¢ 990-67) 2008 Pages [Part ti | Support Schedule for Organizations Described In Section 509(a)() comple ony avou casted me box on ime of Patt) Section A. Public Support Calendar yeor (or sal year begining mi] la) 2008 (2005 (2.2006 (2007 (o2008 19 Total 1 Gths, grants, contnbutions, ant membership fees recowed. (D0 not Include any “unusual grants") 2 Gross receipts from admissions, ‘merchandise sold or sernces por {ormod, or facts furnished any actity that related tothe ‘organization’ taxexempt purpose 3. Gross receipts from activites that ‘are not an unrelated trade or bus: ness under section 513, 4 Taxrevenves levied forthe organ: lzation’s benef and ater paid to lor expended on ts behalf 5 The valve of services or faites furnished by a governmental unt to the organization wthout charge: 6 Total. Addlines 1-5 ‘Ta Amounts included on nes 1,2, and 3 recerved from aisqualfied persons Damon mad one 2 nd mene Woe tanga ena yearr 0 Add ines 7a and 7 8_Public support suenawer.n Section B. Total Support —_ Calendar year (or sal year beginning >] fo) 2008 (012005 (e12006 2007 (e208 _A0 Total 9 Amounts from ine 6 108 Gross income from interest, dividends, payments recewved on Secures loans, rents, royalties, land income from sar sources ‘ Unrate business taxable ncome (ess section $11 tes) from businesses sequuad ater June 30,1975, ‘Add ines 10a and 108 11 Net income from unfeated business activites not ncluded in ine 105, ‘nether of not the business regulary earned on 12 Other income. De not include gan or oss from the sale of capital fssets (Expiam in Part) 39, Total support asin 9,05 1,012) 14 First five years. It check ts box and stop her ‘Section C. Computation of Public Support Percentage Form 990 is forthe organizaion's fs, second, th, fourth, or fifth tax year as a section 601(c)0) erganzation, > 15. Public support percentage for 2008 (ine 8, column () divided by line 13, column (0) is % 16 Public support percentage from 2007 Schedule A,Part VA, line 274 16 % ‘Section D. Computation of investment Income Percentage a — 17 Investment income percentage for 2008 (ine 10e, column () divided by Ine 13, coum () az % 18 Investment income percentage from 2007 Schedule A, Part VA, line 27h ls] % 182.33 1/3% support tests - 2008. If the organzation did not check the box on ne 14, and ine 15 8 more than 33 1/956, and ine 17 w not ‘more than 33 1/396, check this box and step here. The organization qualifies as a publicly supported organization oO 33 1/8% support tests - 2007. If the organtzation id not check a box.on ine 14 or ne 19a, andi 16 ¢ ore than 38 1/99, and ne 18 isnot mote than 33 13%, check ths box and stop here. The organization qualifies as a publicly supported organization Oo 20_ Private foundation. Ifthe organization did not check a box on ine 14, 198, of 19b, check ths box and see nstructon: onl ‘Schedule A (Form 990 or 980-EZ) 2008ie Supplemental Financial Statements =e > stat Form 0, Tbe comply rgontzation thet {Giaras Revenue Senne” answered "Yes," to Form 990, Part IV, line 6, 7, 8, 9, 10, 11, or 12. Nome of the orgenization l ‘Employer identification number Mercatus Center, Inc. 54-1436224 Part! | Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the crganzation answered "Yes" to Form 990, Part IV, tne 6. Donor aaa eS Ts Fars and over aceon 11 Total uber tend of year [ 2 Aggteeteconrutons to ua yea 3. Agosto gars rom uma yee 4 Aggrette vai af end of year 85 Da the orgenzation nfm all donors ané donor advo wring hat the asa hel Gono aed finde tee crpmcatns propery ue! ote eranation's exch gal cota? Ore Cre {Deine orptnzaton nfm llrantees, donors and nor adnsors in wring that rant funds maybe used only for chartabie upoces an ator he tal ol he donor anor advan-ecctar mparmssiie aatetanet?” —["Lves [I no [Part l_[Conservation Easements. Complete he organizaton answered "Yes" to Form 990, Pant WV, ine 7. 1 Purpese(s) of conservation easements held by the organcaton (check all that app. Preservation of and fer publc use e.g.recreation er pleasure) [__] Preservation ofan histoneally important land area Protection of natural habitat Preservation of certtied histonc structure T Preservation of open space 2 Complete ines 282d the crgantztion held a qualified conservation contnbution nthe form of a conservation easement onthe last day ofthe tax year a Heid at the End of the Yeor ‘2 Total number of conservation easements 23 bb Total acreage resincted by conservation easements 2 _ ‘© Number of conservation easements on acertied histone structure metuded in (a) 20 ‘d_ Number of conservation easements included i (c) acqured after 8/17/08 7 3 Number of conservation easements mode, transferred, reloased, extinguished, or terminated bythe organizabon dung the taxable year 4 Number of states where property subject to conservation easement is located 5 Does the organization have a witten policy regarding the penodis monttonng, inspection, volations, and ‘enforcement of the conservation easements it holds? Dives Cine 66 Staff or volunteer nours devoted to monitonng, inspecting, and enforcing easements dunng the year 7. Amount of expenses incurred n montonng, mspecting, and enforcing easements dunng the year P $ 8 Does each conservation easement reported online 2(d) above satisty the requrements of section 170(hN4N%) ‘and section 170(nN4)(BNA)? Coves [no 8 In Part XV, descnbe how the organization reports conservation easements nits revenue and expense statement, and balance sheet, and include, applicable, the text ofthe footnote tothe organization’ nancial statements thet desc the organization's accounting for conservation easements Part iit] Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets. "Complete ithe ergancation answered "Yes" to Form 990, Part Vine 8 1a Ifthe organization lected, as permitted under SFAS 116, not to repor in ts revenue statement and balance sheet works of art, historical treasures. or other similar assets held fr public exhibtion, education, or research in furtherance of public service, provid, 1m Part XV, the text of the footnote ots financial statements that describes these items. b Ifthe organzation elected, as pormitted under SFAS 116, to report ints revenue staternent and balance sheet works of art, histoncal treasures, or other simi assets held for pubic exhibtion, education, or research in furtherance of puble service, provide the foloyang amounts relating to these tems: (Revenues included n Form 990, Par Vl ie 1 ms (i) Assets included in Form 990, Part X ms 2 ithe organzation recened or held works of at histonal treasures, or other similar assets for financial gan, provide the folowing amounts raquied to be reported under SFAS 116 relang to these tems ‘8 Revenues inclided in Form 990, Part Vil ine 1 ms _ bb Assets included n Form 990, Part X ms HA For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 890. ‘Schedule D (Form 990) 2008‘Schedule D Form 990)2008_Mercatus Center, Inc. 54-1436224 page? Part il] Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (contiaved) ‘3 Using the organeation’s accession and other records, check ay ofthe folowing that are asignfcant use oft colton tems (chock a ‘tha appt 2 1 Public exhibition 4 [2] Lean or exchange programs: b [J scholary research e¢ Clot © 1 Preservation for future generations 4 Pronde @ desertion ofthe organzation’scollectons and explan how they further the erganzation’s exempt purpose n Pat XIV. 5 Dunng the year ch the organization sot orrecerve donations of ar, istoncal treasures, or other smiar assets 10 be sold to rasse funds rather than to be mamntsined as part of the organization's collection? (ves [7] No [Bartiv] Trust, Escrow and Custodial Arrangements. Complete organization answered "Yes" to Form 990, Part IV, lne 9, or r2perted an amount on Form 990, Part X.bne 2 ‘Ie the organization an agent, trustee, custodian or other intermediary for contnbutons or other assets not ncluded ‘on Form 990, Part X? Cves Cine bb IfYes," explain the arrangement n Part XIV and complete the following table: ‘Amount {© Beginning balance te _—— Addons dung the year 18 © Deitributions dunng the year te. : Ending balance et 2a. Dxé the organization mclude an amount on Form 990, Part X, line 217 Toves Cine 1 Yes, explan the aangement in Part XIV [Part V-TEndowmont Funds. Conplte faqanzatonanawared Yer to Farm 0, Pa Wine {) Curent year |__(@) Price year | (6) Two years oace_| a) Tes years back | fe) Four years back 12. Beainning of year balance Contnbutions » Investment eamings or losses a Grant or scholarships Other expencitres fr facies and proerams Adminstatve expenses End of year balance 2 Provide the eatmated percentage o the year ord Balance hel 2@ Board desgnated or quastendownant % Permanent endowment % © Termendownent % {a Are there endowment funds natn the possession of he organization that ae eld and administered fr the organization by Yes | No (0 unclates organizations en (i related organeatons sot Yes" to Sain, are the related organations sted as requred on Schedule R? 2 4__Descnoe n Part XIV the intended uses ofthe organization's endowment funds [Part Vi_[Investments - Land, Buildings, and Equipment. See Form 990, Part ine 10. Desenpton of investment (2) Cost orother |) Cost eretner | (@) Depreciation (Book vale base investment) | basis (other) Ye Land OO __ 1 Buictnge - © Leasohold mprovements 2,903, 2,903 Oo. 4 Equpment 974,088.| 593,856. 380,232. ¢ Other = Oe Total, Ago ines 13 1. (Calum (should eaval Form 980, Part X, column (8), ine 10(0)) b[380,232. ‘Schedule D (Form 990) 2008Schedule 0 Form 990)2008__Mercatus Center, Inc. 54-1436224 paged [Part Vil_ investments - Other Securities. See Form 990, Part X ine 12 {a} Desenpton of scum or category ve {e) Method of valuation: {including name of scurty) meee Cost or endo-year market value Financial denvatives and other financial products Coselyneld equry interests tne otal (Colo) shoud qual orm 890, Par x, co (6) ne 12) Part Vill| Investments ram Related. Ses Farm 990, Pan X.ine 13. (2) Desenption of nvestment type (©) Book value (@ Nethod of valuation (Cost or endo-year market value Toll (Gab) shoud equal Form 980, Pa X, col (6) ine 15) Part X| Other Assets. See Form 990, Part X ine i (@) Descnpiion iva Tota (oly shoul equal Form 990, Put X coli) ine 15 . [Part X | Other Liabilities. Seo Form 980, Part X, tne 25. ia Desénpton of aby Daron Federal neome taxes Gift_annuities 53,194, Deferred rent_ 22,496. Teta Gan sul eval Fom 850, Pa callie 21 75,630 _ in Part XIV, provide te text of the footnate tothe organization's financial statements that ‘organization's hablity for uncertan tax postions unde: FIN 48, Pe ‘Schedule D (Form 990) 2008Schedule DForma09) 2008 _Mercatus Center, Inc. 541436224 paged [Part Xi_| Reconciliation of Change in Net Assets from Form 990 to Financial Statements 1 Total revenue (Form 990, Part Vil column (A ne 12) 1 7,865,484. 2 Total expenses (Form 990, Pat X, column (A ine 28) 2 9,604,457. 3 Excess or (eft forthe year. Subtract tne 2 from hne 1 3 <1, 738,973.> 4 Net unrealized gains osses) on investments 4 <24,225.> 5 Donated services and use of facies 5 6 Investment expenses 6 7 Prot pened adustments z = : {8 Other (Describe Part XN) 8 fale Ai ie 48 ° <24,225.> Excess or (dict forthe vear per financial statements Combine ines 3 and 9 10 <1, 763,198.> (ea ‘XU | Reconciliation of Revenue per Audited Financial Statements With Revenue per Retum: Tota revenue, gains, and other suppert per aucted financial statements 1 [-8,612,217- 2 Amounts inchided on ne 1 but not on Form 990, Par Vil, ine 12: ‘8 Net unrealized gains on investments 20 <24,225. 'b Donated services and use of facities 2>| 770,958 «© Recoveries of por year grants 20 4 Other (Desenbe in Pan XV) 24 © Add ines 2a though 2a | 20 | __746 3 Sublract ne 20 rom ine 1 3 | 7,865,484. 4 Amounts included on Form 990, Pat Vl ine 12, but not on ne {Investment expenses nat included on Form 990, Part Vl, ine 7b Other Deserben Part x1 © Addines 4a and Ab 5 _Total revenue Add ines 3 and 4e. (Ths shouls equal Form 990, Par \,ine 12) [Part Xiu] Reconciliation of Expenses per Audited Financial Statements With Expens 1 Total expenses and esses per audited financial statements 2 Amounts chided on ne 1 but not on Form 990, Part Kine 25 per ‘2 Donated services and use of facie 20 770,958. Prot year adjustments 2» ‘© Losses reported on Form 980, Part IX ne 25, el 4 Other (Describe n Part XIV) 26 © Addlines 2a through 2a 20 770,958. 3 Subtract ne 2e rom ine 4 3 | 9,604,457. 4 Amounts included on Form 990, Part IX, ne 25, but not on tne 4 ‘2 Investment expenses not included on Form 990, Pat Vil hne 7b 4a | bb Other (Describe in Part XIV) ab | © Addlines 4a and ab oO. 9,604,457. X, Part XI, ine 8, Par Xl nes 2¢ and 4b, and Part Kil, ines 2¢ and ab. ‘Schedule D (Form 990) 2008suot3dtsosep (y) uwntoD Joy AI 37eq 90g “066 wi04 10) evonanintul ax) 998 eoneN oy UotiaNPaY Wooded PUE oy AoeALd 404 VHT “aSTHOROSS BY Toga ro 300 OE TENS Tos TTeeCO-eo ELE HA Fensa Aanoes © az0ddne 0: TreW 239WoN 908 ebert09 qanomaaea SpTROHE oF TasaeTa ro rise ele e TENS TOSHSETEAT-VE Debee A TTT aynottos #43 20; 0x3 03 NoAyB oon e3ue7t fenysa Azyezenton 009 Aayszenqun cosey #52000, ‘ouejsisse souejsisse 10 ‘yseo-v0U raeoidde j ues6 jo os0ding (u) yo yunowy (a) Oo ont Lvono9j96 oui pue "sou stS5e 10 s1URI6 eu 104 beZEvI-PS “OUT 7FeqeD SNyeOTEW J2quinu vone2ynueps s9koysury onezue6i0 au jo owe VONSeESUT O68 iNT OTE ‘nog omy ma ‘syang 02 uot "Ze-40 1Z SOU 'AI Weg ‘066 WHO UO ,'S9A, poLoMsUE YOREZTUEBLO OM) 1 BOISWOD ‘irc og ‘e002 “S'11 241 w SienpINpU pue sWoUUIERED, “suonenuesig 0} sauersissy souno pu sweID (066 wos) ianaaHos9002 (066 mos) 1 mPouDS SbIOSH SY OF USATH som SjULID FEOULTSTSSY TO qUeID Jo osoding (Gy AVTSIOATUN UOSEH SbIOV) FIVSUUTSACD FO UOTIeZTULbIO JO SUN F(a) wunToD "T euTT “IT sized Tsqonpozd ATTenb TSyIO yO Tsydeabouow “SyATAsTUEH Yoo "SSTSTIze TeuINOL ATIBTOUOS UT FTNSOT OF paqoadxe Sie sqoslord Worwesey “Yoreesex [euTbrio ut ebebue ATeaT3Oe OWM pue A}TSTSATUN UOSeH SbIO9D Oy} Fe HUTpUvIS pOob UT sxe SYM siequew AyTHOeT Ways) SoG} OF VSATH ore spreMv AZTROeG #¢ SUTY "E axed “I STHpSyOS Da RUETISBE TUS AOE BOE” BUTT VEG Ur PHATOOT UOVEAOTU SU BpUGHT OT WET ety STELIOS WoBUOHH TeWOwAITENS | ATER] (WS TRSEREE ARG YOOAT | soueyase yews | weld wees odes Uonenen so POWER ©) /-vou jo unoury (| Jo unowy f) | jo equinN ta) 2ouesise 10 1401 0 OK . peed st eoeds euONPRE (066 ues) 1 aINPSUOS 267 A 22, 201'N Ved "066 uio4 v0.59, Pexonsue voneZuEBlO ey) e}duloD “saIS PANN OW SIENPINpU] 0) BoUEISIESY LOMO PUR sIUED fH; Hed | eweeg becoepi-vS “DUI ?Feque SNIeOTON BODE 166 WIEST aMBSTOS soupitsse yse>-uou jo vonu2seq W)‘Schedule | (Form 990) 2008. Mercatus Center, Inc. 54-1436224 pager [Part iV] Supplemental Information Mason University for the following purposes: to provide general support for the mission and activities of the George Mason University Foundation; to provide support for research by faculty members in economics; to support student tuition in the Department of Economics; to support. student stipends in the Department of Economics; to support the hiring of a faculty member in economics; and for summer support and course buyouts for_a faculty member in economics. ‘Schedule | (Form 990) 2008SCHEDULE J Compensation Information (Form $90) For erin Ofices, Director, Tastes Key Employes an Highest ‘Compensated Employees, 2008 — 12h to Form 36 complete izations Open to Pub ina” P Atooh snared vera Fom 00, Pea Nine za Inepection Name of the organization Employer identification number Mercatus Center, Inc. 54-1436224 Part | Questions Regarding Compensation Yes] No 1@_ Check the appropnate box(es) the organtzation provided any ofthe flowing to or fora person listed in Form 990, Part Vil, Section Ane 12. Complete Part lo provide any relevant formation regarding these toms. (CJ Firstctass or charter travel (J Housing atowance or residence for personal use Travel for companions: (J Payments for business use of personal residence (J) Tex indemnticaton and gross up payments [J Heath or social club dues or intiation fees 1 Discretionary spending account (1 Personal services (e.9., maid, chauffeur, chef) 1 line tas checked, dd the organzation folow a writen polcy reparding payment or reimbursement or provision of allof the expenses described above? if *No,* complete Par Ito explain 1 2 Dé the organzaton requre substantiation poor to reimbursing or allowing expenses cuted by al oficrs, directors, trustes, andthe CEOVExecuine Drector, reparcing the ems checked lne 1a? 2 3. Indicate which, any ofthe folowing the organation uses to establish the compensation of the organization's CEOMExecutwe Drector. Check al that apy. CX) Compensation committee 1 wonten employment contract 1 independent compensation consuitant [X) compensation survey or study EX] Form 990 of other organizations EX} Approval by the board or compensation commrttes 44 Dung the year, ci any person listed in Form 990, Part Vl, Secon A, ne Ta: ‘8 Recewe a severance payment or change of control payment? x bb Participate in, or recenve payment fom, a supplemental nonqualfiedretrement plan? a x «© Participate nF receive payment from. an equty-based compensation arrangement? ae. x IV"Yeo"toany of nes 4c, tthe persons and provide the applicable amounts foreach ern Par i Only 501(6K3) and 501{eK4) organizations must complete tines 5 5 Forpersons listed n Ferm 990, Part VI, Section A ine 1a, did the oxganzation pay or accrue any compensation contingent on the revenues of: {8 The organzation? Se x © Any related organcation? 3b x I1*Ye" tine 5a or Sb, describe m Pat I {6 For persons sted n Form 990, Part Vl, Section A, ne 12, di the organization pay or accrue any compensation contingent on the net earnings of: 12 The organtation? oa Pd bb Any lated organcation? eb, i IT *Yes" tine 6a or Bb, describe n Part I 17 For persons ksted n Form 990, Part Vl, Section A, Ine 12, dd the organization provide any nonixed payments not described in nes 5 and 6? it "Yes," desenbein Par il 1 x 8 Were any amounts reported n Form 990, Part VI. aid or accrued pursuant toa contract that was subject to the inital contact exception described in Regs section 53.4956-4(a? if Yes," describe n Part Il 2 x HA For Privacy Act and Paperwork Reduction Act Notice, see the Insiuctions for Form 990. “Schedule J (Form 890) 20082002 (066 wes) rainpoyos "0 0 anbTLow “d SsoTanen PLL bST -00070E Po oO BITta euiorep “Id yes 7161 -00072E, “0 oO SUETTTTM pIeyOTY “Id Fees "eST 0007S, FO oO SyOOH UPTIG Pec 20e Fooo"ss_-0S2"azT voyeeveduos vovesuawca | “anweo | vowesuedco co-e pen | comnts | “emu | Sea” | mind emi suuneojorme, | emerson Poue}eq @ @ Cy voesvediee 951-6601 07H 21 1 wnoprReHG (a) 11 204 11 ved ‘066 ue4 vo siznowse &) uuiNe> 10 (c) uusNo0 ejqeoedde ox endo Isr ug) SUMED Jo WINS BY. “SION, “DUT vecoepI-vS qeyWED snzeoIOHSCHEDULE O Supplemental Information to Form 990 (Form 990) > Attach to Form 990. To be completed by organizations to provide ‘addtional information for responses to specie questions forthe Seermtctngreme 0 orto provide any additional Information. Biers Reasons Form Name of the organization l Employer identification number Mercatus Center, Inc. 541436224 Form 990, Part I, Line 1, Description of Organization Missio1 application in the human sciences that integrates theory and practice to develop insights and tools that can sustainably advance a free prosperous, and civil society. Form 990, Part ITI, Line 4d, Other Program Services Social Change ~ The students research efforts are directed toward generating knowledge and understanding about the institutions that affect the freedom to prosper. Expenses § 1343525. including grants of $ 37500. Revenue $ 0 1 Hill Campus ~ Brings education in economic ideas to ke decision-makers in the public policy process. A major component of the program is the chief of staff retreat. Expenses § 1324209. including grants of § 242. Revenue Public Affairs ~ Seeks to inform alumni, faculty, and supporters about the efforts of the Center and build communication that develops a network of individuals interested in liberty. Expenses $ 607479. including grants of $ 0. Revenue $ 0. Communications - Improves the effectiveness of Mercatus outreach efforts, raises its public profile, and promotes its research and ideas to media and opinion shapers. Expenses $ 619738. including grants of $ 242. Revenue $ 0. LAA For Privacy Act end Paperwork Reduction Act Notice, ‘the Instructions for Form 880. ‘Schedule © (Form 990) 2008SCHEDULE © Supplemental Information to Form 990 (Form 990) > attach to Form 990. To be completed by organizations to otvers ‘2daitiona information for responses to specific questions f Prato ‘Form 990 or to provide any additional information vide the [Namo of the erganzation| Employer identification number Mercatus Center, Inc. 541436224 Other - Other programs that help to further accomplish the Center's exempt purpose. Expenses $ 410364. including grants of $ 0. Revenue $ 0. Form 990, Part VI, Section A, line 2: Richard Fink is Executive Vice President of Koch Industries, Inc. Charles G. Koch is Chairman and CEO of Koch Industries, Inc. Form 990, Part VI, Section A, line 10: Draft 990 is prepared by the independent accountants and provided to the Chairman of the Board for review prior to filing. Form 990, Part VI, Section B, Line 12c: Disclosure is required contemporaneously with any potential conflicts. Form 990, Part VI, Section B, Line 15: Compensation for officers is set by the Executive Committee of the Board of Directors. Management provides the Committee with comparability data to consider in their review of compensation. The Chairman of the Board of Directors communicates to_ Management _in writing with the decisions of the Committee on officer compensation Form 990, Part VI, Line 17, List of States receiving copy of Form 990: AK, AR, AZ,CA,CO,CT, DE, DC, FL,GA,HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME,MI,MN,MO,MS MT, ND,NE,NH,NJ,NM,NV,NY, OH, OK,OR,RI, SC, SD, TN, TX, UP, VA, VT, WA, WY LHA For Privacy Act ana Pa work Reduction Act Notice, see the Instructions for Form 080, ‘Schedule O (Form 990) 2008SCHEDULE O Supplemental Information to Form 990 {Form 990) > attach to Form 990, To be completed by organizations to provide ; 2008 ‘additional information for responses to specitic questions for the Open to Public bea Ree Ses” Form 980 or to provide any additional information. Inspection ‘Name of the organization Employer identification number Mercatus Center, Inc. 54-1436224 Form 990, Part VI, Section C, Line 19: The Organization’s makes its governing documents, conflict of interest policy, and financial statements available to the public upon request to those with a bona fide business purpose. Form 990, Part XI, Line 2c This process has not changed since the prior year. LAA For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990, ‘Schedule © (Form 990) 2008