Finance

IFS is non-profit and non-political and receives funding from a range of sources

How we are funded

IFS is non-profit and non-political and receives funding from a range of sources, including the Economic and Social Research Council, UK government departments, foundations, the European Research Council, international organisations, companies and other non-profit organisations. 

Funding is received either for specific research projects or via our two ESRC research centres, the Centre for the Microeconomic Analysis of Public Policy and the Centre for Microdata Methods and Practice. Research Councils award funding for academic research independently of government; funding is awarded on the basis of scientific excellence, through a process of peer-review. IFS never accepts funding for a research project - or indeed funding of any kind - that relies on a specific result being found or that compromises our independence and neutrality. 

IFS operates to December year-end. As such, full independently audited figures are only available later in the year - normally June/July.

All of our own publications are available free of charge for the public to read.

IFS received the highest rating for transparency in information made public about funding from Who Funds You? (rated A - last rating in 2024).

The majority of IFS income goes directly to specific research projects. Below is a list showing income from individual funders for projects current in 2023. See the attached spreadsheet for details of individual projects and notes about funders.

Project and Centre funding

Funder nameIncome 2023 (£)
abrdn Financial Fairness Trust196,321
Anna Freud Centre21,033
British Academy36,597
Citi109,024
Consortium funding (ELSA)288,739
Consortium funding (RSC)83,250
Consortium funding (TLRC)5,604
Department for Education108,916
Department for Levelling Up, Housing and Communities9,891
Department for Work and Pensions88,745
Economic and Social Research Council2,341,093
Economic and Social Research Council (cemmap)9,006
Economic and Social Research Council (CPP)1,464,860
European Research Council91,858
Foreign, Commonwealth and Development Office1,298,265
Inter-American Development Bank1,832
Jacobs Foundation21,667
Joseph Rowntree Foundation161,219
Leverhulme Trust44,873
Low Pay Commission14,152
Medical Research Council212,637
National Institute for Health Research742,425
National Institute on Ageing34,324
Nesta120,344
Nuffield Foundation853,978
Office for National Statistics4,975
Research Council of Norway2,029
Rockwool Foundation Research Unit171,347
The Health Foundation122,693
The Spencer Foundation28,385
U.S. Social Security Administration88,102
UK Research and Innovation349,171
USAID67,953
Welsh Government54,596
Youth Endowment Fund241,290

The Institute also generates a small contribution to its overall costs from its members (1.4%) including corporate members (1%), publication of the Institute’s quarterly journal, Fiscal Studies (0.6%), and its events programme (1.3%).

 

Corporate members

We are grateful to all of our members for helping to support the work that we do. Please note that none of our publications necessarily reflect the views of any of the below members.

Lazard£50,000.00
Standard Life£15,000.00
Amazon£10,000.00
Brevan Howard£10,000.00
Elliot Advisors (UK) Ltd£10,000.00
Fusion 21£10,000.00
HM Revenue and Customs£10,000.00
Oliver Wyman£10,000.00
Quilter£10,000.00
Royal London£10,000.00
Wessex Water£10,000.00
BUFDG£6,000.00
abrdn£5,000.00
Audit Scotland£5,000.00
Banca D'Italia UK Representative Office£5,000.00
Bank of England£5,000.00
Chartered Institute of Taxation (CIOT)£5,000.00
Deloitte LLP£5,000.00
Eversheds Sutherland LLP£5,000.00
Frontier Economics£5,000.00
HM Treasury£5,000.00
KPMG£5,000.00
Lane Clark & Peacock£5,000.00
Macfarlanes LLP£5,000.00
National Audit Office£5,000.00
Pension and Lifetime Savings Association£5,000.00
THFC£5,000.00
Zurich Financial Services£5,000.00
RELX Group£3,500.00
CBI£2,500.00
John Swire & Sons£833.00
House of Commons Library£500.00

Annual reports and accounts

Accounts for 2023
Accounts for 2022
Accounts for 2021
Accounts for 2020
Accounts for 2019
Accounts for 2018
Accounts for 2017
Accounts for 2016
Accounts for 2015
Accounts for 2014
Accounts for 2013
Accounts for 2012
Accounts for 2011
Accounts for 2010
Accounts for 2009
Accounts for 2008
Accounts for 2007
Accounts for 2006
Accounts for 2005
Accounts for 2004
Accounts for 2003
Accounts for 2002
Accounts for 2001
Accounts for 2000
Accounts for 1999

Download a list detailing all current projects and associated income