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 receives the highest rating for transparency in information made public about funding from Transparify (rated 5 stars - last rating in 2018).

The majority of IFS income goes directly to specific research projects. Below is a list showing income from individual funders for projects current in 2022. See the attached spreadsheet for details of individual projects and notes about funders.

Project and Centre funding

Funder nameIncome 2022 (£)
abrdn Financial Fairness Trust        99,060
Alfred P. Sloan Foundation        45,438
American Enterprise Institute          4,342
British Academy      319,190
Centre for Ageing Better      114,415
Citi        87,000
Consortium funding (ELSA)      196,001
Consortium funding (MI)        24,861
Consortium funding (RSA)        72,372
Department for Education        18,748
Department for Levelling Up, Housing and Communities        96,500
Department for Work and Pensions        41,912
Department of Finance, Northern Ireland Executive        30,713
Economic and Social Research Council   3,619,373
European Research Council      218,767
Foreign, Commonwealth and Development Office   1,174,986
Inter-American Development Bank        15,109
Jacobs Foundation        10,740
Joseph Rowntree Foundation        36,037
Leverhulme Trust        35,019
Massachussetts Institute of Technology        25,925
Medical Research Council        47,701
National Institute for Health Research      536,201
National Institute on Ageing          2,439
Nesta            720
Nuffield Foundation      847,633
Nuffield Trust          5,085
Office for National Statistics          7,780
Research Council of Norway          2,114
Rockwool Foundation Research Unit      193,529
The Clipper Foundation        50,000
The Health Foundation        56,863
The Spencer Foundation        11,572
U.S. Social Security Administration      158,419
UK Research and Innovation      214,953
Welsh Government          9,600
World Bank          9,488
Youth Endowment Fund      163,007


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.

Standard Life£15,000.00
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
Royal London£10,000.00
Wessex Water£10,000.00
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
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
Zurich Financial Services£5,000.00
RELX Group£3,500.00
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