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REASON FOUNDATION Organization Name provided in the GuideStar Exchange* as of 05/13/2014: REASON FOUNDATION

Organization Name as listed in the IRS Business Master File as of 07/14/2014: REASON FOUNDATION

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AKA  Reason
Los Angeles, CA

GuideStar Summary

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&1002; Registered with IRS Legitimacy information is available
&1002; Financial Data Annual Revenue and Expense data reported
&1002; Forms 990 2013, 2012, and 2011 Forms 990 filed with the IRS
&1002; Mission Objectives Mission Statement is available
&1002; Impact Summary Impact Summary from the nonprofit is not available
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Basic Organization Information

REASON FOUNDATION Organization Name provided in the GuideStar Exchange* as of 05/13/2014: REASON FOUNDATION

Organization Name as listed in the IRS Business Master File as of 07/14/2014: REASON FOUNDATION

* The GuideStar Exchange allows nonprofits to regularly update key information directly to GuideStar. It provides richer and broader information about their programs, impact, finances, people and more.
Also Known As: Reason
Physical Address: Los Angeles, CA 90230 
EIN: 95-3298239
Web URL: www.reason.org 
Blog URL: reason.org/blog/ 
NTEE Category: W Public, Society Benefit
W05 Research Institutes and/or Public Policy Analysis
A Arts, Culture, and Humanities
A30 Media, Communications Organizations
B Educational Institutions
B05 Research Institutes and/or Public Policy Analysis
Year Founded: 1968 
Ruling Year: 1979 


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Mission Statement

The mission of Reason Foundation is to advance a free society by developing, applying, and promoting libertarian principles, including free markets, individual liberty, and the rule of law. We use journalism and public policy research to change the frameworks and actions of policymakers, journalists, and opinion leaders.

Legitimacy Information

This organization is registered with the IRS.

This organization is required to file an IRS Form 990 or 990-EZ.

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Annual Revenue & Expenses (GuideStar Exchange,
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May 2014)

Fiscal Year Starting: October 1, 2012
Fiscal Year Ending: September 30, 2013

Total Revenue --
Total Expenses --

Revenue & Expenses

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Balance Sheet (IRS Form 990)

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Leadership (GuideStar Exchange,
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May 2014)

Mr. David Nott

Term:

Since Sept 2001

Profile:

David Nott became Reason Foundation's third president and chief executive officer in September 2001. He came to this position after serving as president of two of the country's leading free-market institutions: the Institute for Humane Studies (IHS) and the Mercatus Center, both at George Mason University in Virginia. He received his Bachelor of Arts and Sciences with Distinction, in economics and engineering, from Stanford University. After graduation, he worked as a petroleum engineer for Shell Western Exploration & Production Inc. in Bakersfield, California.

Board Chair (GuideStar Exchange,
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May 2014)

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Board Co-Chair

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Board of Directors (GuideStar Exchange,
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May 2014)

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Board Leadership Practices (GuideStar Exchange,
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May 2014)
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Board Orientation & Education ?
Why does this matter? Without clarity around their responsibilities and expectations, board members are not positioned to succeed. They may find themselves challenged to fulfill their governance responsibilities or frustrated by the expectations that the organization has set for them. BoardSource recommends that every new board member participate in a formal orientation process, and that all board members sign a pledge or agreement committing to their board service and to all of the responsibilities and expectations that come with service. Ideally, board members also should participate in a formal governance training program prior to serving on a board.

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?
Response Not Provided
CEO Oversight ?
Why does this matter? Oversight and management of the chief executive is one of the board’s most important legal responsibilities. The CEO or executive director is the board's single employee, and - just like any other employer/employee relationship - regular and written assessment is critical to ensuring that the chief executive and board are communicating openly about goals and performance. BoardSource recommends that boards conduct formal, written reviews of their chief executives on an annual basis, which should include an in-person discussion with the chief executive and distribution of the written evaluation to the full board.

Has the board conducted a formal, written assessment of the chief executive within the past year?
Response Not Provided
Ethics & Transparency ?
Why does this matter? A commitment to handling conflicts of interests is essential to creating an organizational culture of transparency. Boards should create and follow a policy for identifying and handling conflicts of interest, whether real or perceived. BoardSource recommends that organizations review the conflict-of-interest statement and require signed disclosures from all board members and senior staff on an annual basis.

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements within the past year?
Response Not Provided
Board Composition ?
Why does this matter? The best boards are composed of individuals who bring a variety of skills, perspectives, backgrounds, and resources to tackle the complex and strategic challenges confronting their organizations. BoardSource recommends that boards commit to diversity and inclusion by establishing written policies and practices, which include strategic and intentional recruitment of diverse board members, continual commitment to inclusivity, and equal access to board leadership opportunities.

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?
Response Not Provided
Board Performance ?
Why does this matter? Boards need to regularly assess their own performance. Doing so ensures that they are being intentional about how they govern their organization, which is a critical component of effective board leadership. BoardSource recommends that a board conduct a self-assessment of its performance a minimum of once every three years to ensure that it is staying on track with its roles and responsibilities.

Has the board conducted a formal, written self-assessment of its performance within the past three years?
Response Not Provided

Officers for Fiscal Year (IRS Form 990)

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Highest Paid Employees & Their Compensation (IRS Form 990)

Highest Paid Employee data is not available for this organization.

People information was last updated by the nonprofit in May 2014

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Programs

Program: (GuideStar Exchange,
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May 2014)

Budget:
--
Category:
Population Served:

Program Description:

Reason Foundation is the publisher of Reason Magazine and home to a leading public policy think. Reason's public policy work promotes choice, competition, and a dynamic market economy. Current research areas include transportation, urban land use and economic development, environmental quality, and education. In addition, Reason brings nearly thirty years of experience in privatization, competitive contracting, and analysis of public-sector institutional reforms to enhance efficiency. Reason magazine, an independent monthly magazine of "free minds and free markets," advances liberty as the country's premier magazine of politics, culture, and ideas, serving as the center of a social movement. As a prominent network news correspondent puts it: "Thank goodness for Reason...one sane voice fighting tons of nonsense." Based in Los Angeles, with editors around the country, Reason has a circulation of approximately 41,000.

Program Long-Term Success:

Reason worked closely with the governors of California, Indiana, Florida, and South Carolina to restrain state spending and bring competition, transparency, and accountability to government. We published our 20th Annual Privatization Report, including essays from Margaret Thatcher, Mitch Daniels, and Mark Sanford.

Program Short-Term Success:

Program Success Monitored by:

Program Success Examples:

Impact Summary from the Nonprofit

This organization has not provided an impact summary.

Reviews

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