# American Institutes for Research

American Institutes for Research is an Endowment / Foundation based in Arlington, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Arlington, United States
- **Region:** North America
- **Address:** 1400 Crystal Drive 10th Floor, Arlington, VA 22202, United States
- **Founded:** 1946
- **Assets under management:** 757 (Altss estimate)
- **Website:** air.org
- **LinkedIn:** https://www.linkedin.com/company/american-institutes-for-research

## Regulatory record

- **Reports private funds:** No

## About

American Institutes for Research was established in 1946 as a nonpartisan research entity. Jessica Heppen became President and CEO in 2024, succeeding David Myers. The firm holds no disclosed family wealth origin and operates as an independent nonprofit. The organization allocates 1.19 percent of assets to private equity and holds a quasi-endowment valued near $1.06 billion. Confirmed holdings include direct ownership of Pelavin Research Institute. Geographic reach centers on the United States with additional project work reported globally. Strategy records list buyout, venture, secondaries, and co-investment mandates alongside core research contracts. The firm employs 1,800 professionals. Additional offices operate in Chicago and Washington, DC. Philanthropic vehicles include the AIR Equity Initiative established in 2021 with $20 million committed and the AIR Opportunity Fund with $22.5 million committed. In 2024 the firm engaged Sikich CPA LLC for financial advisory services. Governance separates the research mission from investment management through a board chaired by Lawrence Bobo. The structure maintains a small external allocation program while the majority of resources support operating divisions in education research and evaluation.

## Sectors

- Education
- Research

## Offices

- Chicago, IL, United States
- Washington, DC, United States

## People

- Jessica Heppen — President and CEO
- Don Lindsey — Chief Investment Officer

## Questions

### Who runs investment decisions at American Institutes for Research?

Don Lindsey serves as Chief Investment Officer. He participates in the Academy for Institutional Investors.

### What asset classes appear in the portfolio?

Records show a 1.19 percent allocation to private equity. The balance supports the quasi-endowment and operating needs.

### Which service providers support the investment function?

FEG Investment Advisors acts as investment advisor. Sikich CPA LLC provided financial advisory services in 2024.

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- [American Institute for Research](https://altss.com/profile/american-institute-for-research-air)
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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/american-institutes-for-research

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