Milton Friedman Liberty Prize
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| Founder(s) | Ed Crane, Charles Koch, Murray Rothbard |
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| Established | 1974 |
| Mission | To originate, disseminate, and increase understanding of public policies based on the principles of individual liberty, limited government, free markets, and peace. |
| Focus | Public advocacy, media exposure and societal influence |
| President | (and CEO) Peter N. Goettler |
| Chairman | Robert A. Levy |
| Executive Vice-President | David Boaz |
| Faculty | 46 |
| Adjunct faculty | 70 |
| Staff | 100 |
| Budget | Revenue: $37.3 million Expenses: $29.4 million (FYE March 2015) |
| Slogan | "Individual Liberty, Free Markets, and Peace" |
| Formerly called | Charles Koch Foundation; Cato Foundation |
| Location | 1000 Massachusetts Ave. N.W. Washington, D.C., United States |
| Coordinates | 38°54′12″N 77°01′35″W / 38.90333°N 77.02639°WCoordinates: 38°54′12″N 77°01′35″W / 38.90333°N 77.02639°W |
| Website | www |
The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of the conglomerate Koch Industries. In July 1976, the name was changed to the Cato Institute. Cato was established to have a focus on public advocacy, media exposure and societal influence. According to the 2014 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), Cato is number 16 in the "Top Think Tanks Worldwide" and number 8 in the "Top Think Tanks in the United States". Cato also topped the 2014 list of the budget-adjusted ranking of international development think tanks.
The institute was founded in December 1974 in Wichita, Kansas as the Charles Koch Foundation and initially funded by Charles Koch. The other members of the first board of directors included co-founder Murray Rothbard, libertarian scholar Earl Ravenal, and businessmen Sam H. Husbands Jr. and David H. Padden. At the suggestion of Rothbard, the institute changed its name in 1976 to Cato Institute after Cato's Letters, a series of British essays penned in the early 18th century by John Trenchard and Thomas Gordon.
Cato relocated first to San Francisco, California in 1977, then to Washington, D.C. in 1981, settling initially in a historic house on Capitol Hill. The Institute moved to its current location on Massachusetts Avenue in 1993. Cato Institute was named the fifth-ranked think tank in the world for 2009 in a study of think tanks by James G. McGann, PhD of the University of Pennsylvania, based on a criterion of excellence in "producing rigorous and relevant research, publications and programs in one or more substantive areas of research".
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