MESSAGE FROM NED’s PRESIDENT and Chief executive Officer
As America’s Foundation for Freedom, the National Endowment for Democracy (NED) has the privilege to support courageous people who are on the frontlines of building safer, freer, and more prosperous societies. Under often extraordinarily challenging conditions, these individuals are taking a leap of faith for freedom.
In 2024, democracy faced strong headwinds. Yet people around the world demanded greater freedoms. In many places, they achieved stunning political openings and democratic advances. During a “year of elections,” one in which millions of voters across the world cast ballots, we saw the power of democracy in action. Even in the toughest places, where standing up for individual rights can carry great peril, NED and its core institutes—the International Republican Institute (IRI), the National Democratic Institute (NDI), the Center for International Private Enterprise (CIPE), and the Solidarity Center—supported remarkable people help themselves in pursuit of dignity and justice.
NED’s grantmaking advances fundamental democratic freedoms—speech, religious belief, association, and thought—by supporting grassroots movements, promoting free elections, combating authoritarian censorship, reinforcing the rule of law, and ensuring transparency and accountability.
Our entrepreneurial approach enables NED to do what big bureaucracies and private donors are often hard pressed to do. Distinct from many funders, NED’s grantmaking reflects the bottom-up spirit of democracy. We demonstrate what venture capital for democracy truly means—making modest, often early-stage investments to empower those who take the initiative in their own nations. The goal is simple: fuel liberty.
Authoritarian regimes are no longer content to repress dissent only within their borders. They are exporting repression, leveraging technology to surveil and silence, manipulating global institutions, and eroding the rule of law across the international system. From Beijing to Moscow to Tehran to Caracas to Pyongyang to Havana, autocrats are coordinating more aggressively and effectively than ever before to entrench authoritarianism and undermine democratic values worldwide.
However, the power and example of freedom in today’s world are strong. NED partners are at the cutting edge of the fight for democratic principles. In 2024, NED made over 1,900 grants across 91 countries, totaling $286 million, demonstrating our ability to deliver powerful, targeted support where it’s needed most—so that every dollar we invest is maximizing impact.
NED advances long-term U.S. interests and Administration priorities by helping to nurture democracy and freedom around the world. Throughout the year, we acted quickly to help trusted democratic partners on the ground take advantage of openings. We delivered grants to help grassroots actors achieve significant results. And we ensured that support reached those in the most repressive societies. We demonstrated the power of the support of the American people for those at the forefront of the struggle for freedom.
This annual report spotlights some of these game-changing investments. We invite you to join us to work in common cause for a more peaceful, prosperous, and democratic world.
Damon Wilson
President and CEO
2024 Year in Review

In 2024, NED reaffirmed its commitment to courageous partners, who are working in common cause for a more secure and prosperous future. NED continued to support fundamental democratic freedoms—speech, religious belief, association, and thought—by supporting grassroots movements, promoting free elections, combating censorship, and reinforcing the rule of law.
In 2024, NED’s Board of Directors approved $286 million for 1,905 projects in over 90 countries.
As part of its comprehensive approach to advancing democracy, NED maintained strong support for the NED family core institutes including NDI, IRI, CIPE, and the Solidarity Center.
Read more about NED’s grantmaking
NED 2024 Grant Listings
2024 Game-Changing Grants Deliver Impact

In 2024, our partners broke through censorship, exposed corruption, galvanized mass movements, and helped deliver international accountability—all with limited resources but unmatched courage, credibility, and local insight. These 10 examples show how targeted support to trusted, talented grantees can deliver transformational impact.
REad Examples of Game-Changing Grants
Democracy is more than an ideal—it delivers tangible benefits to individuals and societies. NED empowers those championing freedom in the face of authoritarianism. This essay explores how NED stands with courageous people struggling for freedom and democracy around the world.
REad Freedom’s Framework: The Case for Democracy
2024 Highlights
Kara-Murza Freed, but the Fight Continues

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Ukraine’s Fight, Democracy’s Future

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Young Defectors Lead Bold Call for Rights

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Securing Democracy in a Digital Future

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Democracy Advocates Gather in South Africa

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Democracy Makes Progress in Bosnia and Herzegovina

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30 Years Advancing Ideas That Power Democracy

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2024 Democracy Awards
On June 13, the 2024 Democracy Awards paid tribute to the courage and achievements of NED partners from Ukraine, Tibet, and Sudan, as well as extraordinary champions of democracy around the world. NED also presented the Democracy Service Medal to Evgenia Kara-Murza and Vladimir Kara-Murza, Sikyong Penpa Tsering, Sviatlana Tsikhanouskaya, Senate Republican Leader Mitch McConnell, and Speaker Emerita Nancy Pelosi.
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Regional Center for Human Rights

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Tibet Action Institute

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Waey Organization

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Vladimir Kara-Murza and Evgenia Kara-Murza

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Sikyong Penpa Tsering

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Sviatlana Tsikhanouskaya

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Senate Republican Leader Mitch McConnell

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Speaker Emerita Nancy Pelosi

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Impact Stories
Around the world, courageous people are challenging authoritarian regimes, fighting corruption, and defending human rights—often at great personal risk. NED is proud to stand with these activists, providing the critical support they need to expose injustice and build freer societies. Their efforts are strengthening democracies, ensuring fair economies, and making the world more stable and secure.
Read on to see how NED partners are making a real difference.
Venezuela: Courageous Leadership Amid Crackdown

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Syria: Building a Democratic Future After Assad

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Bangladesh: Independent Journalism Driving Democratic Reform

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Leaders from Nigeria, Uganda, and Niger: Women's Leadership in Africa

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Supporting Democracy
NED’s democracy support activities, which effectively serve as an organizational R & D role, act as force multipliers for NED’s mission. The International Forum for Democratic Studies, the Center for International Media Assistance, the World Movement for Democracy, and the Reagan-Fascell Fellows Program complement NED’s grantmaking.
By systematically combining factors and leveraging resources, these R & D-oriented units help enable the organization to accomplish greater feats than without. This amplifies and grows the power of a given dollar. The research and development undertaken by the democracy support work contributes to the cause in the following ways:
- Stimulate new lines of effort and level up the work of NED partners by accelerating learning and delivering more systemic responses to complex challenges.
- Help NED’s grantees do more collectively by connecting NED’s extensive and unique network of activists, experts, journalists, opinion leaders, and others—and aligning them with common cause and strategic purpose.
- Bring new allies and resources into the movement in support of freedom, and inspire them to support the goals of NED’s grantees and partners.
Leveraging AI for Democracy

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Exposing Global Authoritarian Narratives

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Fighting Kleptocracy in an Era of Geopolitics

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Coalitions for Information Integrity

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Center for International Media Assistance

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Journal of Democracy

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Reagan-Fascell Democracy Fellows Program

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World Movement for Democracy: #SetThemFree

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Audited Financial Statements
The National Endowment for Democracy (NED) has received a clean (unqualified) audit opinion on its financial statements for Fiscal Year 2024, continuing a record of more than ten years of clean audits.
The audit, conducted by Grant Thornton, found no material misstatements or significant deficiencies. Additionally, the Uniform Guidance (UG) report recorded no findings and classified NED as a “low-risk” entity. These results affirm NED’s commitment to financial integrity, accountability, and adherence to regulatory standards.
Key highlights from the audit include:
- No material misstatements or significant deficiencies identified.
- Financial statements present a true and fair view of NED’s position.
- Full compliance with Generally Accepted Accounting Principles (GAAP) and Uniform Guidance.