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On the Funding of the PetersonInstitute for International EconomicsSTATEMENT OF PRINCIPLESThe Peterson Institute for International Economics (PIIE) is an independent nonprofit,nonpartisan research organization dedicated to strengthening prosperity and humanwelfare in the global economy through expert analysis and practical policy solutions. We believe that economic policies that advance responsible and sustainableglobal economic integration benefit everyone. The president and senior fellows of thePeterson Institute independently set our research agenda and evaluate the analysisand conclusions of any particular study and, ultimately, the economic policies ourscholars advocate and criticize. As an international think tank based in Washington,DC, we are proud to have a wide range of supporters including a large and highlydiversified group of individuals, multinational companies, philanthropic foundations,and public institutions from around the world. To fulfill its commitment to intellectualintegrity and independence, the Peterson Institute adheres to the following principles:Objectivity. The Institute’s extensive evaluation process subjects all its research topeer review prior to publication, both internal and, for longer works, external. Authorsmust make all data and computations used in their research publicly available andallow for replication of results. Individual authors are responsible for their own views,but the Institute takes responsibility for subjecting their scholarship and writing torigorous and consistent quality control.Transparency. All sources of funding dedicated to a specific study are disclosed,along with any affiliations or consulting contracts of authors that are relevant to thatstudy. This standard applies to all authors of any PIIE publication, including all externalauthors and coauthors. All authors must sign a transparency and disclosure formgoverning their identification with the Institute. A complete list of Institute supportersfor preceding years, along with category of support given, is provided below. The listincludes all contributors to general support and to our capital fund.Diversity of stakeholders. The Institute’s independence is strengthened by its relianceon a diversity of funding sources, including corporate support, foundation grants,individual donations, and support from public institutions in the United States andabroad, as well as income derived from our capital fund and publication sales.Identity as a research institution. We are proud to be a think tank known for itsscholarly integrity and for advocacy that is limited to the forceful expression of ourindividual scholars’ research-based views. We adhere to the letter and the spirit ofall applicable US law and consciously avoid any activities that may be construed aslobbying.1750 Massachusetts Avenue, NWWashington, DC 20036-1903 1.202.328.9000 www.piie.com4-5-20221
FACTS ABOUT OUR FUNDINGFINANCIAL SUPPORT FOR THE PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICSFinancial support for the Institute’s operations is provided through donations andgrants from corporations, individuals, private foundations, and public institutions, aswell as income from the Institute’s capital fund and from publishing revenues. We areproud to meet the market test of having to raise well over half of our funding everyyear.Institute supporters vary in their level of engagement and financial contribution.Valuable support comes from donors at a range of financial commitments. Donationsmade at the 100,000 level across all categories of supporters made up less thanhalf (35 percent) of the Institute’s overall budget for 2020. Only 9 percent of totaldonations in 2020 were made by supporters who requested that their gifts be publicly attributed as anonymous.Ninety-five percent of total revenues in 2020 were provided without substantiverestriction, allowing the support to be used at the Institute’s discretion to fund ongoing programs rather than being earmarked for particular research projects. Whilesome donor funds—particularly foundation grants—are restricted to support of individual research projects, donors do not influence the conclusions or policy implications drawn from Institute research. All Institute research is independent and held tostrict standards of replicability and academic integrity. No revenue earmarked forparticular research projects is from donors who request to remain anonymous.All Institute books, Policy Briefs, Briefings, and Working Papers acknowledgeany direct funding sources, and web pages for these publications provide links tounderlying data files or sources to allow independent replication of analyses. Authordisclosures include employment, consulting, or ownership relationships with firms orpublic institutions that could be substantially affected by their research. This requirement applies to relationships that have been active three years prior to publicationand includes all coauthors of PIIE publications, not just PIIE staff. Authors must alsodisclose any potential conflict of interest to the Institute that might arise as a result ofleadership positions or board memberships in advocacy groups.Funders are never given the right to final review of any Institute publication prior toits release.Sources of financial support for the Institute have been listed annually on the PIIEwebsite since June 2013. We provide annual listings for 2010–21.2
2021INSTITUTE’S TOTAL BUDGET IN 2021: 13 MILLIONShare of overall funding29% Supporters at 100,000 Level4% Anonymous Contributors(4 contributors)12%12%Non-US SourcesFive Largest DonorsRevenue percentages by source category39% Endowment and OtherIncome36% Corporations4% Foundations15%Individuals6% Public InstitutionsRestrictions on support by project94% Unrestricted2% Restricted(Foundations)4% Restricted(Public/Corporate)Expenses by Category76% Research and Programs19%6%Management and AministrationFundraising3
2021 250,000 and above 50,000 to 74,999Up to 24,999EYMinistry of Economy andFinance of KoreaPeter G. Peterson Foundation*Bank of Singapore Ltd.Frank BrosensCitadel Americas LLCDuquesne Family Office LLCEast End AdvisorsElement Capital Management LLCElliott Management CorporationGIC Private Ltd.IBM CorporationJP Morgan ChaseAndrew N. LiverisThe Olayan GroupJames OwensRokos Capital ManagementSymmetry InvestmentsTaconic Capital Advisors, LPTemasek International (USA) LLCVisa Inc.William von MuefflingWells Fargo & Co.Two Anonymous DonorsCaroline AtkinsonC. Fred BergstenNeeti Bhalla JohnsonJoseph CastilloCentral Bank of China, TaipeiSusan CollinsEstate of Richard N. CooperJessica and Robert EinhornExxon Mobil CorporationPeter R. FisherR. Michael GadbawHills & CompanyJapan Bank for InternationalCooperationHarold KalishmanKikkoman Foods, Inc.Robert KnechtKorea InternationalTrade AssociationEmbassy of LiechtensteinDonald F. McHenryMcLarty AssociatesEloise MitchellMitsui & Co. (U.S.A.) Inc.Monetary Authority of SingaporeJames QuinnResearch Institute forHousing AmericaCharles L. Shor FoundationSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationOrme ThompsonRon WilliamsRobert B. Zoellick 100,000 to 249,999Aflac, Inc.AmazonBalyasny Asset ManagementBNP Paribas Asset ManagementCaterpillar, Inc.Chubb LimitedCyrus Capital Partners, L.P.Eranda Rothschild FoundationStephen FreidheimGoldenTree Asset ManagementGoogleJon & Mindy Gray FamilyFoundationLorin GuJanine and J. TomilsonHill Family TrustHSBC Holdings plcJay JacobsMichael KleinDavid LeuschenMastercard Inc.MetaMorgan StanleyMohammed VI PolytechnicUniversityNorges Bank InvestmentManagementPepsiCo, Inc.Royal Danish EmbassyToyota Motor Corporation2 Anonymous Donors 75,000 to 99,999Aegon Asset ManagementCargill, Inc.Caxton Associates LPChevron CorporationGoldman Sachs Group, Inc.Lazard, Ltd.Liberty Mutual Group, Inc.Moody’s Investors Service, Inc.Nordic American TankersQualcomm Inc.Shell plcJames StanardTikehau CapitalTwo Sigma Investments, LP 25,000 to 49,999Patrick BassoulBlackRock FinancialManagement Inc.The British Embassy,Washington, DCCapital GroupDai-ichi Life InsuranceDeere & CompanyFedEx CorporationGeneral Motors CompanySumaer GrewalKent HoStephen and Katherine HoweIntesa Sanpaolo SpAITOCHU CorporationAlexandra JamesonMarubeni America CorporationPeter R. OrszagProcter & GambleRichard E. SalomonMichael StuenkelSwiss National BankWenbin TaoTudor Investment CorporationSam Weatherford4*Endowment Contribution
2020INSTITUTE’S TOTAL BUDGET IN 2020: 13 MILLIONShare of overall funding35% Supporters at 100,000 Level5% Anonymous Contributors(4 contributors)12%17%Non-US SourcesFive Largest DonorsRevenue percentages by source category38% Endowment and OtherIncome35% Corporations9%Foundations13%Individuals4% Public InstitutionsRestrictions on support by project95% Unrestricted3% Restricted(Foundations)2% Restricted(Public/Corporate)5
2020 250,000 and above 50,000 to 74,999Up to 24,999EYMinistry of Economy andFinance of KoreaPeter G. Peterson Foundation*The Estate of David Rockefeller*Anonymous DonorBank of Singapore Ltd.Frank BrosensChevron CorporationCitadel Americas LLCCouncil for the UnitedStates and ItalyDuquesne Family OfficeElement Capital Management LLCElliott Management CorporationGIC Private Ltd.IBM CorporationJP Morgan ChaseAndrew LiverisThe Olayan GroupJames OwensRokos Capital ManagementSymmetry InvestmentsTaconic Capital Advisors, LPTwo Sigma Investments, LPVisa Inc.William von MuefflingWells Fargo & Co.Two Anonymous DonorsCaroline AtkinsonC. Fred BergstenNeeti Bhalla JohnsonCentral Bank of China, TaipeiEllen ClearySusan CollinsJessica and Robert EinhornThe Elson Family CharitableFund European ParliamentExxon Mobil CorporationPeter R. FisherWilliam FranklinR. Michael GadbawGE FoundationRobert GranieriHills & CompanyJapan Bank for InternationalCooperationKikkoman Foods, Inc.Korea InternationalTrade AssociationLG Economic Research InstituteEmbassy of LiechtensteinEduardo MartinezDonald McHenryMcLarty CompaniesEloise MitchellMitsui & Co. (U.S.A.) Inc.Monetary Authority of SingaporeResearch Institute forHousing AmericaSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationUBS AGWilliam M. Keck, Jr. FoundationRobert B. Zoellick 100,000 to 249,999Aflac, Inc.Balyasny Asset ManagementBlackRock FinancialManagement Inc.BNP Paribas Asset ManagementCaterpillar, Inc.Charles Koch InstituteChubb LimitedCyrus Capital Partners, L.P.Eranda Rothschild FoundationStephen FreidheimGoldenTree Asset ManagementLorin GuJanine and J. TomilsonHill Family TrustHSBC Holdings plcJay JacobsMichael KleinMastercard Inc.Morgan StanleyNorges Bank InvestmentManagementPepsiCo, Inc.Joseph E. Robert, Jr.Charitable TrustRoyal Danish EmbassyToyota Motor CorporationAnonymous Donor 75,000 to 99,999Aegon Asset ManagementCathay Capital Europe S.à.r.l.Caxton Associates LPGoldman Sachs Group, Inc.Lazard, Ltd.David LeuschenLiberty Mutual Group, Inc.Moody’s Investors Service, Inc.Nordic American TankersRoyal Dutch Shell plcJames Stanard 25,000 to 49,999Capital GroupCheryl CuiDai-ichi Life InsuranceDeere & CompanyFedEx CorporationLee and Juliet Folger FundFord Motor CompanyGeneral Motors CompanySumaer GrewalKent HoStephen and Katherine HoweHyundai Motor CompanyIntesa Sanpaolo SpAITOCHU CorporationAlexandra JamesonChristopher JinMarcelo LimaMarubeni America CorporationMicrosoft CorporationMitsubishi CorporationMUFG Bank, Ltd.Peter R. OrszagProcter & GambleRichard E. SalomonMichael StuenkelSwiss National BankWenbin TaoTemasek Private Ltd.Tudor Investment CorporationSam Weatherford6*Endowment Contribution
INSTITUTE’S TOTAL BUDGET IN 2019: 12.5 MILLIONShare of overall funding41% Supporters at 100,000 Level6%14%20%Anonymous Contributors(6 contributors)Non-US SourcesFive Largest DonorsRevenue percentages by source category32% Endowment andOther Income45% Corporations*12%8%FoundationsIndividuals3% Public InstitutionsRestrictions on support by project90% Unrestricted8%Restricted(Foundations)2% Restricted(Public/Corporate)*Donations from foundations closely affiliated with corporations are coded as corporate7
2019 1,000,000 and above 50,000 to 74,999Up to 24,999Peter G. Peterson Foundation*The Estate of David Rockefeller*All Nippon Airways Co., Ltd.BNP ParibasFrank BrosensCitadel Americas LLCD. E. Shaw & Co., L.P.Duquesne Family OfficeElement Capital Management LLCElliott Management CorporationFedEx CorporationJoan Ganz CooneyGeneral ElectricGIC Private Ltd.Lorin GuJP Morgan ChaseThe Olayan GroupJames OwensPretium Partners LLCRokos Capital ManagementLawrence H. Summersand Elisa F. NewSymmetry InvestmentsTaconic Capital Advisors LPVisa, Inc.William Von MuefflingWells Fargo & Co.3 Anonymous ContributorsCaroline AtkinsonC. Fred BergstenNeeti Bhalla JohnsonCentral Bank of China, TaipeiPhebe Condict Miller*Jessica and Robert EinhornAnthony R. ElsonEuropean ParliamentPeter FisherR. Michael GadbawGE FoundationRobert GranieriHills & CompanyJapan Bank for InternationalCooperationKikkoman Foods Inc.Korea InternationalTrade AssociationEmbassy of LiechtensteinDonald McHenryMcLarty CompaniesMitsui & Co. (USA) Inc.Monetary Authority of SingaporePeter OrszagResearch Institute forHousing AmericaRichard SalomonSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationUBS AGRobert Zoellick 250,000 to 999,000EYOpen Philanthropy Project FundToyota Motor Corporation1 Anonymous Contributor 100,000 to 249,999Aflac, Inc.BlackRock FinancialManagement Inc.Caterpillar, Inc.Chevron CorporationChubb LimitedCouncil for the UnitedStates and ItalyCyrus Capital Partners, L.P.Eranda Rothschild FoundationStephen FreidheimGoldenTree Asset ManagementHSBC Holdings plcIBM International FoundationJay JacobsMichael KleinMastercard Inc.Morgan StanleyNorges Bank InvestmentManagementPepsiCo, Inc.Joseph E. Robert Jr. Charitable TrustStavros Niarchos Foundation2 Anonymous Contributors 75,000 to 99,999Aegon Asset ManagementBessemer TrustCathay Capital Europe S.à.r.lCaxton Associates LPGoldman Sachs Group, Inc.Graticule Asset ManagementAsia, LLCLazard, LtdDavid LeuschenLiberty Mutual Group, Inc.McKinsey & CompanyMoody’s Investors Service, Inc.Nordic American TankersRoyal Dutch Shell plcSybiel B. Berkman Foundation 25,000 to 49,999Aramco Services CompanyCapital GroupDai-ichi Life InsuranceCompany, Ltd.Deere & CompanyExxon MobilLee and Juliet FolgerFord Motor CompanyGeneral Motors CompanyKent HoStephen and Katherine HoweING Wholesale BankingIntesa Sanpaolo SpAITOCHU CorporationJapanese Ministry of Economy,Trade and IndustryChristopher JinMarubeni Americas CorporationMicrosoft CorporationMitsubishi CorporationMUFG Bank, LtdProcter and GambleMichael StuenkelSwiss National BankTemasek Private Ltd.Tudor Investment CorporationSam WeatherfordWilliam M. Keck, Jr. Foundation8*Contribution towards PIIE’s Endowment
INSTITUTE’S TOTAL BUDGET IN 2018: 12.5 MILLIONShare of overall funding36% Supporters at 100,000 Level2% Anonymous Contributors(2 contributors)15%Non-US Sources19%Five Largest DonorsRevenue percentages by source category38% Endowment and OtherIncome44% Corporations*9%Foundations6% Individuals3% Public InstitutionsRestrictions on support by project95% Unrestricted4%Restricted(Foundations)1% Restricted(Public/Corporate)*Donations from foundations closely affiliated with corporations are coded as corporate9
2018 1,000,000 and above 50,000 to 74,999Peter G. Peterson Foundation*The Estate of David Rockefeller*All Nippon Airways Co., Ltd.BlackRock FinancialManagement Inc.Brosens, FrankChan, RonnieElement CapitalElliott Management CorporationFedEx CorporationGIC Private Ltd.JP Morgan ChaseThe Olayan GroupOwens, JamesRokos CapitalC.V. Starr FoundationSymmetry InvestmentsTaconic Capital Advisors LP1 Anonymous Contributor 250,000 to 999,000EYToyota Motor Corporation1 Anonymous Contributor 100,000 to 249,999Aetna, Inc.Aflac, Inc.Caterpillar, Inc.Caxton Associates LPChevron CorporationChubb LimitedCouncil for the UnitedStates and ItalyCyrus Capital Partners, L.P.Eranda Rothschild FoundationFreidheim, StephenGoldenTree Asset ManagementHSBC Holdings plcHuawei Technologies**The International Monetary FundJacobs, JayKlein, MichaelMastercard Inc.Morgan StanleyNorges Bank InvestmentManagementPepsiCo, Inc.Robert Charitable Trust,Joseph E., Jr.Stavros Niarchos FoundationUBS AG1 Anonymous Contributor 75,000 to 99,999Aegon Asset ManagementBessemer TrustDecision Support Center,Kingdom of Saudi Arabia**General ElectricGoldman Sachs Group, Inc.Graticule Asset ManagementAsia, LLCIBM International FoundationLazard, LtdLiberty Mutual Group, Inc.McKinsey & CompanyMoody’s Investors Service, Inc.Nordic American TankersLeuschen, DavidRoyal Dutch Shell plcSybiel B. Berkman Foundation 25,000 to 49,999Aramco Services CompanyBlackstoneBNP Paribas Asset ManagementCapital GroupCentre for InternationalGovernance InnovationDai-ichi Life InsuranceCompany, Ltd.Deere & CompanyExxon MobilFolger, Lee and JulietFord Motor CompanyGeneral Motors CompanyHyundai Motor CorporationIntesa Sanpaolo SpAITOCHU CorporationMicrosoft CorporationMitsubishi CorporationMUFG Bank, LtdSwiss National BankTemasek Private Ltd.Tudor Investment CorporationUp to 24,999Belofsky, Patrice and JeraldBhalla Johnson, NeetiCentral Bank of China, TaipeiDismal Science NorwayEinhorn, Jessica and RobertElson, R. AnthonyGadbaw, R. MichaelGE FoundationGold, Irwin10Hills & CompanyJapan Bank for InternationalCooperationKikkoman Foods Inc.Korea InternationalTrade AssociationLiechtenstein, Embassy ofMcHenry, DonaldMcLarty CompaniesMitsui & Co. (USA) Inc.Monetary Authority of SingaporeProcter and GambleSalomon, RichardSasakawa Peace Foundation, USATaipei Foreign Exchange MarketDevelopment FoundationZoellick, Robert*Contribution towards PIIE’s Endowment**Since 2018, PIIE has ended itsrelationship with the Decision SupportCenter and Huawei Technologies
INSTITUTE’S TOTAL BUDGET IN 2017: 12.5 MILLIONShare of overall funding33% Supporters at 100,000 Level3% Anonymous Contributors(3 contributors)15%Non-US Sources15%Five Largest DonorsRevenue percentages by source category43% Endowment and OtherIncome40% Corporations*10%Foundations5% Individuals2% Public InstitutionsRestrictions on support by project89% Unrestricted8%Restricted(Foundations)3% Restricted(Public/Corporate)*Donations from foundations closely affiliated with corporations are coded as corporate11
2017 100,000 to 999,999 50,000 to 74,999Up to 24,999Aetna, Inc.Aflac, Inc.Caxton Associates LPChevron CorporationChubb LimitedCouncil for the UnitedStates and ItalyCyrus Capital Partners, L.P.Dow Chemical CompanyDracopoulos, AndreasEranda Rothschild FoundationEYGE FoundationGoogle Foundation of theTides FoundationHSBC Holdings plcHuawei TechnologiesJacobs, JayKlein, MichaelPepsiCo, Inc.Peter G. Peterson FoundationMorgan StanleyRobert Charitable Trust,Joseph E., Jr.Smith Richardson FoundationStavros Niarchos FoundationToyota Motor CorporationUBS AG3 Anonymous ContributorsAll Nippon Airways Co., Ltd.BlackRock FinancialManagement Inc.Brosens, FrankCaterpillar, Inc.Chan, RonnieDavid, GeorgeElliott Management CorporationEuropean CommissionFedEx CorporationGIC Private Ltd.Norges Bank InvestmentManagementThe Olayan GroupTaconic Capital Advisors LPVisa, Inc.1 Anonymous ContributorBelofsky, Patrice and JeraldBTIF, LLCCaterpillar FoundationCENTRA TechnologiesCentral Bank of China, TaipeiEinhorn, Jessica and RobertElson, R. AnthonyEuropean ParliamentGadbaw, R. MichaelGranieri, RobertIstituto Affari InternazionaliJapan Bank for InternationalCooperationKikkoman Foods Inc.Korea InternationalTrade AssociationLiechtenstein, Embassy ofMcHenry, DonaldMcLarty CompaniesMassachusetts Institute ofTechnology—Sloan Schoolof ManagementMitsui & Co. (USA) Inc.Monetary Authority of SingaporeProcter and GambleSkandinaviska Enskilda Banken ABSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationWilliam M. Keck, Jr. FoundationZoellick, Robert 75,000 to 99,999Aegon Asset ManagementBessemer TrustCentre for InternationalGovernance InnovationGoldenTree Asset Management, LPGoldman Sachs Group, Inc.Graticule Asset ManagementAsia, LLCIBM International FoundationLazard, LtdLiberty Mutual Group, Inc.McKinsey & CompanyMoody’s Investors Service, Inc.Nordic American TankersRoyal Dutch Shell plc 25,000 to 49,999Alcoa FoundationAramco Services CompanybgC3 LLCBNP Paribas Asset ManagementCapital GroupDai-ichi Life InsuranceCompany, Ltd.Deere & CompanyExxon MobilFolger, Lee and JulietFord Motor CompanyGeneral Motors CompanyHerman Global LLCHills & CompanyIntesa Sanpaolo SpAITOCHU CorporationKorea Institute for InternationalEconomic PolicyMicrosoft CorporationMitsubishi CorporationMUFG Bank, Ltd (Formerly Bankof Tokyo-Mitsubishi UFJ Ltd.)Salomon, RichardSamsung TechnologiesSasakawa Peace FoundationStarr FoundationSwiss National BankTemasek Private Ltd.Tudor Investment CorporationUPS12
INSTITUTE’S TOTAL BUDGET IN 2016: 12.5 MILLIONShare of overall funding30% Supporters at 100,000 Level3% Anonymous Contributors(3 contributors)14%Non-US Sources12%Five Largest DonorsRevenue percentages by source category46% Endowment and Other Income39% Corporations*8%Foundations5% Individuals2% Public InstitutionsRestrictions on support by project93% Unrestricted6%Restricted(Foundations)1% Restricted(Public/Corporate)*Donations from foundations closely affiliated with corporations are coded as corporate13
2016 100,000 to 999,999Aetna Inc.Aflac Inc.Caxton Associates LPChevron CorporationCouncil for the UnitedStates and ItalyCyrus Capital Partners, L.P.Dow Chemical CompanyDracopoulos, AndreasEYGE FoundationGood Ventures Foundation–Open Philanthropy ProjectHSBC Holdings plcHuawei TechnologiesKlein, MichaelMorgan StanleyPepsiCo, Inc.Robert Jr. CharitableTrust, Joseph E.Stavros Niarchos FoundationToyota Motor CorporationUBS AGUnited Technologies Corporation2 Anonymous Contributors 75,000 to 99,999Aegon/TransamericaCaterpillar Inc.Centre for InternationalGovernance InnovationGoldenTree Asset Management, LPGoldman Sachs Group, Inc.Graticule Asset ManagementAsia, LLCHansson, HerbjornIBM International FoundationLiberty Mutual InsuranceMcKinsey & CompanyMoody’s Investors Service, Inc.OCP Policy CenterRoyal Dutch Shell plc1 Anonymous Contributor 50,000 to 74,999All Nippon Airways Co., Ltd.BlackRock FinancialManagement Inc.Brosens, FrankChan, RonnieDavid, GeorgeElliott Management CorporationEvercore ISIFedEx CorporationFord Motor CompanyGIC Private Ltd.Herman Global LLCJPMorgan Chase & CompanyMathias, Edward and DaleMizuho Securities Co., Ltd.Norges Bank InvestmentManagementThe Olayan GroupSalomon, RichardTaconic Capital Advisors LPVisa Inc. 25,000 to 49,999Aramco Services CompanyBank of Tokyo–Mitsubishi UFJ Ltd.Capital GroupChubb LimitedDai-ichi Life InsuranceCompany, Ltd.Deere & CompanyExxon MobilFischer Francis Trees & WattsFolger, Lee and JulietGeneral Motors CompanyIntesa Sanpaolo SpAITOCHU CorporationKorea Institute for InternationalEconomic PolicyMetLife, Inc.Microsoft CorporationMitsubishi CorporationSamsung TechnologiesSarasin & Partners LLPSwiss National BankTudor Investment CorporationUPSWilliam M. Keck, Jr. FoundationUp to 24,999Andrea, DavidBelofsky, Patrice and JeraldCentral Bank of China, TaipeiDanske BankEinhorn, JessicaEuropean ParliamentGadbaw, R. MichaelHills & CompanyJapan Bank for InternationalCooperationKikkoman Foods Inc.Korea Development Institute14Korea InternationalTrade AssociationLiechtenstein, Embassy ofMassachusetts Institute ofTechnology—Sloan Schoolof ManagementMcHenry, DonaldMcLarty CompaniesMitsui & Co. (USA) Inc.Monetary Authority of SingaporeProcter and GambleSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationZoellick, Robert
INSTITUTE’S TOTAL BUDGET IN 2015: 12.5 MILLIONShare of overall fundingSupporters at 100,000 Level27%3% Anonymous Contributors(3 contributors)22%12%Non-US SourcesFive Largest DonorsRevenue percentages by source category37% Endowment and OtherIncome44% Corporations*9%Foundations4% Individuals6% Public InstitutionsRestrictions on support by project89% Unrestricted6% te)*Donations from foundations closely affiliated with corporations are coded as corporate15
2015 1,000,000 and abovePeter G. Peterson Foundation* 100,000 to 999,999Aetna, Inc.Aflac Inc.Asian Development BankCaterpillar Inc.Caxton Associates LPCentre for International GovernanceInnovationChevron CorporationCouncil for the United States andItalyCyrus Capital Partners, L.P.Dow Chemical CompanyDracopoulos, AndreasERANDA FoundationEYGE FoundationHSBC Holdings plcMoody’s Investors Service, Inc.The Olayan Group*PepsiCo, Inc.Stavros Niarchos FoundationToyota Motor CorporationUBS AGUnited Technologies Corporation1 Anonymous Contributor 75,000 to 99,999Aegon/TransamericaGoldenTree Asset Management, LPGoldman Sachs Group, Inc.Graticule Asset Management Asia,LLCHansson, HerbjornLiberty Mutual InsuranceMcKinsey & CompanyRoyal Dutch Shell plc2 Anonymous Contributors 50,000 to 74,999All Nippon Airways Co., Ltd.Bank of JapanBlackRock Financial ManagementInc.Brosens, FrankChan, RonnieDavid, GeorgeDeutsche BankElliott Management CorporationEvercore ISIFedEx CorporationFord Motor CompanyGIC Private Ltd.Huawei TechnologiesIBM International FoundationJPMorgan Chase & CompanyKorea Institute for InternationalEconomic PolicyKlein, Michael S.Norges BankThe Olayan GroupOwens, James*Sarasin & Partners LLPSasakawa Peace FoundationTaconic Capital Advisors LPTaipei Economic & CulturalRepresentative OfficeToyota Motor North America, Inc.Visa Inc.3 Anonymous Contributors 25,000 to 49,999Aramco Services CompanyBanco SantanderBank of Tokyo–Mitsubishi UFJ Ltd.Bergsten, Virginia and Mark*Capital GroupCEMEXChubb LimitedDai-ichi Life InsuranceCompany, Ltd.Deere & CompanyDuquesne Capital Management, LLCEni S.P.A.European ParliamentFischer Francis Trees & WattsFolger, LeeGàvea InvestimentosGeneral Motors CompanyIntesa Sanpaolo SpAITOCHU CorporationKorea Development InstituteMetLife, Inc.Microsoft CorporationMitsubishi CorporationSalomon, RichardSwiss National BankTudor Investment CorporationUPSvan Agtmael, AntoineUp to 24,999American Automotive Policy CouncilCentral Bank of China, TaipeiCENTRA Technology Inc.Cross, Sam and Nancy Jacklin*Danske BankEinhorn, JessicaFischer Francis Trees & Watts*16Fraga, Arminio*Gadbaw, R. MichaelGreene, Edward*Hills & CompanyHM TreasuryJapan Bank for InternationalCooperationKikkoman Foods Inc.Korea International TradeAssociationLiechtenstein, Embassy ofMcHenry, DonaldMcLarty CompaniesMinistry of Economic Affairs, R.O.C.Massachusetts Institute ofTechnology—Sloan School ofManagementMitsui & Co. (USA) Inc.Monetary Authority of SingaporeOwens, JamesProcter and GambleThe Starr FoundationSumitomo CorporationTaipei Foreign Exchange MarketDevelopment FoundationTruman, Edwin and TracyWatts III, John H. & Martha*Whitman Family Foundation*William M. Keck, Jr. FoundationZoellick, Robert*Donated to the Institute’s Capital Fundin 2015
INSTITUTE’S TOTAL BUDGET IN 2014: 12 MILLIONShare of overall funding34% Supporters at 100,000 Level4% Anonymous Contributors(5 contributors)22%12%Non-US SourcesFive Largest DonorsRevenue percentages by source category37% Endowment and OtherIncome43% Corporations*12%Foundations4% Individuals4% Public InstitutionsRestrictions on support by project84% (Public/Corporate)*Donations from foundations closely affiliated with corporations are coded as corporate17
2014 100,000 to 999,999Aetna, Inc.Aflac Inc.Asian Development BankAven, PeterCaterpillar Inc.Caxton Associates LPChevron CorporationCouncil for the United States andItalyCyrus Capital Partners, L.P.Dracopoulos, AndreasDow Chemical CompanyERANDA Rothschild FoundationEYHSBC Holdings plcIBM International FoundationInvestor ABItalian Trade CommissionMoody’s Investors Service, Inc.Office Chérifiendes PhosphatesPolicy CouncilThe Olayan Group*Owens, James*PepsiCo, Inc.Sasakawa Peace FoundationThe Starr Foundation*Stavros Niarchos FoundationToyota Motor CorporationToyota Motor Corporation*UBS AGUnited Technologies CorporationWilliam M. Keck, Jr. Foundation*3 Anonymous Contributors 75,000 to 99,999Aegon/TransamericaAll Nippon Airways Co., Ltd.FedEx CorporationFortress Investment Group LLCGoldenTree Asset Management, LPHansson, HerbjornKorea Institute for InternationalEconomic PolicyMcKinsey & CompanyRoyal Dutch Shell plcUS Chamber of Commerce1 Anonymous Contributor 50,000 to 74,999BlackRock Financial ManagementInc.Brosens, FrankChan, RonnieChubais, AnatolyDavid, GeorgeElliott Management CorporationEvercore ISIGaidar FoundationGE FoundationGIC Private Ltd.Huawei TechnologiesInstitute for New Economic ThinkingJPMorgan Chase & CompanyKlein, Michael S.Keck, StephenThe Olayan GroupStatoilTaconic Capital Advisors LPTudor Investment CorporationToyota Motor North America, Inc.Visa Inc.William M. Keck, Jr. Foundation2 Anonymous Contributors 25,000 to 49,999Aegon/Transamerica*Chubb LimitedAramco Services CompanyBanco SantanderBanque de FranceBP plcCapital GroupCEMEXCentre for International GovernanceInnovationDeere & CompanyDeutsche BankDuquesne Capital Management, LLCEaton CorporationEnel Green Power North America,Inc.ExxonMobilFord Motor CompanyFischer Francis Trees & WattsFolger, LeeGàvea InvestimentosGeneral Motors CompanyGoldman Sachs Group, Inc.High Rise Capital Management LPIntesa Sanpaolo SpAITOCHU CorporationKorea International TradeAssociationMetLife, Inc.Microsoft CorporationNucor CorporationSalomon, RichardShepard, Don*Slome Capital LLCStavros Niarchos FoundationSwiss National BankTata Sons Ltd.UPSvan Agtmael, AntoineUp to 24,999Akant, Adnan*Alva, Maureen and George*Ames, Kenny*Association of Global AutomakersBank of Tokyo–Mitsubishi UFJ Ltd.Barua, Kausik*Carey, John P.*Central Bank of China, Taipei18CENTRA Technology Inc.Chen, Sally F.*Cigliana, Giorgio*Constantine, Stephen James*Da
4-5-2022 STATEMENT OF PRINCIPLES The Peterson Institute for International Economics (PIIE) is an independent nonprofit, . Dai-ichi Life Insurance Deere & Company FedEx Corporation Lee and Juliet Folger Fund Ford Motor Company General Motors Company Sumaer Grewal Kent Ho Stephen and Katherine Howe
