Editing Cato Institute (section)

==Funding, tax status, and corporate structure==
The Cato Institute is classified as a [[501(c)]](3) organization under the U.S. [[Internal Revenue Code]]. For revenue, the institute is largely dependent on private contributions and does not receive government funding.<ref>{{Cite web|url=https://www.cato.org/about|title=About Cato|website=Cato Institute|language=en|access-date=2019-01-24|archive-date=December 22, 2017|archive-url=https://web.archive.org/web/20171222160723/https://www.cato.org/about|url-status=live}}</ref> The Cato Institute reported the fiscal year 2015 revenue of $37.3 million and expenses of $29.4 million.<ref name=annual>{{cite web|title=2014 Annual Report|url=http://object.cato.org/sites/cato.org/files/pubs/pdf/annual_report_2014.pdf|publisher=Cato Institute|access-date=14 April 2016|archive-date=July 1, 2017|archive-url=https://web.archive.org/web/20170701225101/https://object.cato.org/sites/cato.org/files/pubs/pdf/annual_report_2014.pdf|url-status=live}}</ref> According to the organization's annual report, $32.1 million came from individual donors, $2.9 million came from foundations, $1.2 million came from program revenue and other income, and $1 million came from corporations.<ref name=annual/>

''[[The Nation]]'' reported support for Cato from the tobacco industry in a 2012 story.<ref>{{cite news|last1=Ames|first1=Mark|title=Independent and Principled? Behind the Cato Myth|url=http://www.thenation.com/article/167500/independent-and-principled-behind-cato-myth|access-date=9 December 2014|work=[[The Nation]]|date=20 April 2012|archive-date=January 7, 2015|archive-url=https://web.archive.org/web/20150107193314/http://www.thenation.com/article/167500/independent-and-principled-behind-cato-myth|url-status=live}}</ref>

===Funding details===
Funding details as of [[Fiscal year|FYE]] March 2020:<ref name="Ratings" />
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{{Pie chart
 | thumb = right
 | caption=Operating [[revenue]] as of FYE March 2020: $31,695,000
 | other =
 | label1 = Individual
 | value1 = 75 | color1 = steelblue
 | label2 = Foundation
 | value2 = 20 | color2 = saddlebrown
 | label3 = Corporate
 | value3 = 3 | color3 = chocolate
 | label4 = Program and Other Income
 | value4 = 2 | color4 = burlywood
}}
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{{Pie chart
 | thumb = left
 | caption=Operating [[expenses]] as of FYE March 2020: $31,726,000
 | other =
 | label1 = Program
 | value1 = 81 | color1 = steelblue
 | label2 = Management & General
 | value2 = 12 | color2 = saddlebrown
 | label3 = Development
 | value3 = 7 | color3 = chocolate
}}
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Net assets as of FYE March 2020: $81,391,000.

===Shareholder dispute and departure of Ed Crane===
In 2011, there were four shareholders of the Cato Institute: [[Charles Koch|Charles]] and [[David Koch]], Ed Crane,<ref name="Cato owners">{{cite web | url=http://www.huffingtonpost.com/2012/03/01/koch-brothers-lawsuit-cato-institute_n_1313852.html | title=Koch Brothers File Lawsuit Over The Ownership Of the Cato Institute | date=1 March 2012 | website=The Huffington Post | access-date=6 February 2020 | archive-date=March 3, 2012 | archive-url=https://web.archive.org/web/20120303021616/http://www.huffingtonpost.com/2012/03/01/koch-brothers-lawsuit-cato-institute_n_1313852.html | url-status=live }}</ref> and [[William A. Niskanen]]. Niskanen died in October 2011.<ref name="Niskanen widow">{{cite web | url=https://www.politico.com/story/2012/03/kochs-launch-court-fight-over-cato-073494 | title=Kochs launch court fight over Cato | last=Allen | first=Mike | date=1 March 2012 | website=Politico | access-date=25 May 2021 | archive-date=May 25, 2021 | archive-url=https://web.archive.org/web/20210525140923/https://www.politico.com/story/2012/03/kochs-launch-court-fight-over-cato-073494 | url-status=live }}</ref> In March 2012, a dispute broke out over the ownership of Niskanen's shares.<ref name="Cato owners"/><ref name="Niskanen widow"/> Charles and David Koch filed suit in Kansas, seeking to void his shareholder seat. The Kochs argued that Niskanen's shares should first be offered to the board of the institute, and then to the remaining shareholders,<ref>{{cite news | url=https://www.washingtonpost.com/politics/koch-brothers-sue-for-control-of-cato-institute/2012/03/02/gIQAHQ9XpR_print.html | title=Battle for control of Cato Institute highlights unusual structure | last=Farnam | first=T.W. | date=4 March 2012 | newspaper=The Washington Post | access-date=25 May 2021 | archive-date=August 3, 2018 | archive-url=https://web.archive.org/web/20180803163630/https://www.washingtonpost.com/politics/koch-brothers-sue-for-control-of-cato-institute/2012/03/02/gIQAHQ9XpR_print.html | url-status=live }}</ref> while Crane contended that Niskanen's shares belonged to his widow, Kathryn Washburn, and that the move by the Kochs was an attempt to turn Cato into "some sort of auxiliary for the G.O.P ... It's detrimental to Cato, it's detrimental to Koch Industries, it's detrimental to the libertarian movement."<ref name=Lichtblau>{{cite news|author=Lichtblau, Eric|title=Cato Institute Is Caught in a Rift Over Its Direction|url=https://www.nytimes.com/2012/03/06/us/cato-institute-and-koch-in-rift-over-independence.html|date=March 6, 2012|work=[[The New York Times]]|access-date=March 6, 2012|archive-date=August 19, 2019|archive-url=https://web.archive.org/web/20190819104123/https://www.nytimes.com/2012/03/06/us/cato-institute-and-koch-in-rift-over-independence.html|url-status=live}}</ref> Those who supported Cato's existing management rallied around the "Save Cato" banner,<ref>{{cite web |date=September 19, 2012 |archive-url=https://web.archive.org/web/20120919092730/http://www.cato.org/SaveCato/#clickArea |url=http://www.cato.org:80/SaveCato/#clickArea |archive-date=September 19, 2012 |access-date=May 28, 2020 |work=Cato Institute |title=Save Cato |url-status=live }}</ref> while those who supported the Koch brothers, called "For a Better Cato".<ref>{{Cite web| title = For a Better Cato| access-date = May 28, 2020|archive-date=June 9, 2012| date = June 9, 2012| url = http://www.forabettercato.com/| archive-url = https://web.archive.org/web/20120609065226/http://www.forabettercato.com/}}</ref>

In June 2012, Cato announced an [[agreement in principle]] to settle the dispute by changing the institute's governing structure. Under the agreement, a board replaced the shareholders and Crane, who at the time was also [[chief executive officer]], retired. Former [[BB&T]] bank CEO [[John A. Allison IV]] replaced him.<ref>{{cite news |url=https://blogs.wsj.com/washwire/2012/06/25/koch-brothers-cato-institute-settle-dispute/ |title=Koch Brothers, Cato Institute Settle Dispute |first=Danny |last=Yadron |newspaper=[[The Wall Street Journal]] |date=June 25, 2012 |access-date=June 25, 2012 |archive-date=October 6, 2012 |archive-url=https://web.archive.org/web/20121006120932/http://blogs.wsj.com/washwire/2012/06/25/koch-brothers-cato-institute-settle-dispute/ |url-status=live }}</ref><ref>[http://www.cato.org/pressroom.php?display=news&id=209 Cato Institute and Shareholders Reach Agreement in Principle] {{Webarchive|url=https://web.archive.org/web/20120828173317/http://www.cato.org/pressroom.php?display=news&id=209 |date=August 28, 2012 }}, Cato Institute press release, June 25, 2012.</ref> The [[Koch brothers]] agreed to drop two lawsuits.<ref>{{cite news|author=Lichtblau, Eric|title=Cato Institute and Koch Brothers Reach Agreement|url=http://thecaucus.blogs.nytimes.com/2012/06/25/cato-institute-and-koch-brothers-reach-agreement/|date=June 25, 2012|work=The New York Times|access-date=July 8, 2012|archive-date=July 6, 2012|archive-url=https://web.archive.org/web/20120706074934/http://thecaucus.blogs.nytimes.com/2012/06/25/cato-institute-and-koch-brothers-reach-agreement/|url-status=live}}</ref>

In 2018, several former Cato employees alleged longtime [[sexual harassment]] by Crane, going back to the 1990s and continuing until his departure in 2012. ''[[Politico]]'' reported that he settled one such claim in 2012. Crane denied the allegations.<ref>{{cite news|title=Former Cato employees describe years of harassment|url=https://www.politico.com/story/2018/02/08/ed-crane-cato-institute-sexual-harassment-398989|access-date=8 February 2018|work=POLITICO|date=8 February 2018|archive-date=February 9, 2018|archive-url=https://web.archive.org/web/20180209013812/https://www.politico.com/story/2018/02/08/ed-crane-cato-institute-sexual-harassment-398989|url-status=live}}</ref>