Commonwealth Institute for Fiscal Analysis
1329 E Cary Street
Suite 202
Richmond VA 23219
Mission Statement To use policy research and analysis to advance the well-being of Virginia communities, and improve the economic security and social opportunities of all Virginians.
CEO/Executive Director Michael Cassidy
Board Chair Ms Joan Huffer
Board Chair Company Affiliation Hanover Provident Capital; Independent Consultant
Contact Information
Address 1329 E Cary Street
Suite 202
Richmond, VA 23219
Telephone 804 396-2051
Fax 804 396-2051
History and Background
Year of Incorporation 2010
Financial Summary
Projected Revenue $1,105,600.00
Projected Expenses $1,005,600.00
Mission To use policy research and analysis to advance the well-being of Virginia communities, and improve the economic security and social opportunities of all Virginians.


TCI’s critical victory to strengthen Virginia’s version of the Earned Income Tax Credit (EITC) helps 114,000 low-income working families. TCI was able to lock in recent improvements that were made to the EITC for the next four years. This was an important victory since these improvements to the EITC have been under attack in recent years in Virginia and provisions in the tax bill are typically only adopted for one year.



After years of work, TCI's analysis and legislative engagement helped secure two key improvements to the state's unemployment insurance system: creation of a work-sharing program and allowing trailing military spouses to access unemployment insurance benefits. Home to the third largest military population in the country, Virginia was one of just a handful of states where trailing military spouses were ineligible for unemployment compensation. Together, these two policy changes represent significant steps forward in strengthening Virginia's unemployment insurance system so that this critical safety net program better responds to the needs of Virginia workers in what remains a very fragile economy.



TCI improved the rights of all workers in Virginia and created a more level playing field by helping restore funding for the wage enforcement division of the state’s department of labor. We put together compelling analysis showing how restoring the wage enforcement division would lead to more revenue for the state – not just from the civil penalties collected, but also from the sales and income taxes on the recovered wages when workers turn around and spend that money.



TCI protected basic fairness in our legal system by defeating a measure to deny limited English proficient (LEP) persons meaningful access to the courts by eliminating support for interpretive services. We documented the fiscal impact of the proposal and how it would threaten over $40 million in federal funding that supports Virginia courts because it would violate long-standing federal civil rights requirements.


Needs We have a continued need for support to help sustain our capacity to produce clear and reliable information and analysis about policy choices facing the Commonwealth and to make it available to everyone – including those often left on the sidelines in policy debates. We have seen an increased demand for our services and want to make sure we are prepared and ready to meet the needs of our community partners.

The Commonwealth Institute for Fiscal Analysis was founded in Richmond, Virginia in December 2006 with a staff of one.  We now have a staff of ten including a team of expert analysts of state fiscal and economic issues, a communication and outreach team, and a development team. We have offices in Richmond and Fairfax.

We have strong "feedback loops" for our own research and analysis by having closer relationships with non-profit direct service providers who  alert us to challenges they are seeing in the field, objections and problems to state policies from local government partners, and other issues. This, in turn, helps us design policy solutions better to address those concerns. And it also helps ensure that we are providing the kind of analysis and information that partner organizations and advocates actually need to tackle their work and prepare for successful engagement in advocacy efforts on behalf of low- and moderate­ income families in Virginia.


Board Chair Statement

I joined the Commonwealth Institute’s Board because this organization is setting a national example of how tax and budget research and analysis can advance a wide range of issues from immigration to health care. 

Through my professional career as a policy and budget analyst in the United States Senate, I witnessed firsthand the impact that robust research can have on establishing and implementing effective federal policies.  I also know how the budget process effects the distribution of resources and, ultimately, the impact that has on providing opportunities for people from disadvantaged communities. 

State fiscal policy has become the new battleground when it comes to advancing equity and prosperity

In a relatively short period of time, TCI has grown from a one-person shop to a strong team of researchers and analysts who provide critical information to lawmakers, the media, advocacy organizations working to provide opportunities to help people across the state participate fully in our society and economy. 

The Board is committed to helping TCI expand its reach, improving the diversity of its staff, and ensuring the organization’s sustainability so it can continue to have impact and help build a prosperous economy that works for all Virginians.  

Areas of Service
Areas Served
Board Chair
Board Chair Ms Joan Huffer
Company Affiliation Hanover Provident Capital; Independent Consultant
Term June 2014 to June 2016
Board of Directors
Board Members
Mr. Len Burman The Urban Institute
Mr. Michael Cassidy The Commonwealth Institute for Fiscal Analysis
Ms. Judy Conti National Employment Law Project
Ms. Virginia Diamond Of Counsel, Ashcraft & Gerel
Ms. Diane Fabian Managing Partner, Lockman & Fabian
Mr. James Gibson University of Richmond School of Law
Mr. Christopher Howard Harriman Professor of Government and Public Policy, :College of William and Mary
Ms. Joan Huffer Partner, Hanover Provident Capital; Independent Consultant
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 8
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 4
Female 4
Board Term Lengths 3
Board Term Limits 2
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 4
Standing Committees
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Michael Cassidy
Experience Michael Cassidy is the President and CEO of The Commonwealth Institute for Fiscal Analysis, a nonprofit think tank focused on providing independent research, analysis and public education on budget and tax issues, with emphasis on the impact of fiscal decisions on low- and moderate-income Virginians. Before joining The Commonwealth Institute, Michael conducted program evaluations as an analyst at the Virginia Department of Planning and Budget. He also worked for several years as a budget analyst at the U.S. Office of Management and Budget where he handled policy development, regulatory and legislative review and budgetary process and execution for a wide variety of social policy programs. He began his career in tax policy for the federal government and also worked for PricewaterhouseCoopers in their government consulting practice. Michael graduated from Georgetown University, and has a master’s degree in public policy from the College of William and Mary, where he was a Thomas Jefferson Fellow.
Senior Staff
Mr. Patrick Getlein Director of Communications
Mr. Joe Stanley Policy Director
Ms. Celia Tetlow Development Manager
Full Time Staff 10
Part Time Staff 0
Retention Rate 75
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 5
Date Strategic Plan Adopted Jan 2015
Management Succession Plan? Under Development
Organization Policy and Procedures Yes
Whistleblower Policy Yes
Fiscal Year
Projected Revenue $1,105,600.00
Projected Expenses $1,005,600.00
Form 990s
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201420132012
Program Expense$884,321$726,146$686,059
Administration Expense$101,709$81,112$100,893
Fundraising Expense$118,717$38,646$42,455
Payments to Affiliates------
Total Revenue/Total Expenses0.940.921.11
Program Expense/Total Expenses80%86%83%
Fundraising Expense/Contributed Revenue11%5%5%
Assets and Liabilities
Fiscal Year201420132012
Total Assets$398,671$450,090$517,217
Current Assets$390,436$439,389$502,822
Long-Term Liabilities$0----
Current Liabilities$29,270$10,021$9,191
Total Net Assets$369,401$440,069$508,026
Short Term Solvency
Fiscal Year201420132012
Current Ratio: Current Assets/Current Liabilities13.3443.8554.71
Long Term Solvency
Fiscal Year201420132012
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit Application Confirmation 2/2016View