Comparison · 11 material differences
REF vs Tugboat Institute
This comparison was generated on request from the records. It carries no editorial verdict and is not indexed. The published comparisons are listed on the compare page.
Read down each column for one organization, across a row for the difference. A bronze mark at the left of a cell means the organizations differ on that row. A dash or “not published” means the organization does not disclose the fact; it is not a zero.
Verified September 2026
Peer advisory
Verified September 2026 REF
CEOs, owners and presidents, with parallel tracks for C-suite executives reporting to the CEO and for high-potential managers on leadership programmes
Peer advisory
Tugboat Institute
Chief executives, presidents and executive chairs with significant ownership of private companies that have deliberately rejected the venture-backed or IPO path, with at least…
What the records say
- Role or title: REF: Top Executive track: CEO, owner, president or equivalent; Tugboat Institute: Must be the CEO, President or Executive Chairperson of the company.
- Minimum company revenue: REF: No published minimum company revenue; Tugboat Institute: At least US$10M in annual revenue.
- Minimum ownership stake: REF: No published minimum ownership stake; Tugboat Institute: Must hold a significant ownership stake; the business must be closely held with value-aligned owners who have no legal right to compel a sale or IPO.
- Annual dues: REF: Not publicly disclosed. REF publishes no membership price; the Peer Resources directory also recorded fees as unavailable at publication. Members are described elsewhere as paying monthly dues.; Tugboat Institute: Not publicly disclosed. No membership fee appears anywhere on the public site; prospective members are routed to a pre-application and a follow-up conversation..
Side by side
| REF | Tugboat Institute | |
|---|---|---|
| Profile | ||
| Type | Peer advisory | Peer advisory |
| Founded | 1994 (Entrepreneur's franchise directory records the company as founded in 1994 and franchising since 1994. REF's own site says only "Founded 30 years ago in the USA" and "With 30 years of experience", which is consistent.) | 2013 (The About Us page dates the founding to 2013, when Dave Whorton - previously a founder of four Silicon Valley companies and an investor at two venture and private equity firms - coined the term "Evergreen" and, with the help of Chris Alden, created Tugboat Institute following a small gathering of leaders in Sun Valley, Idaho in October of that year.) |
| Headquarters | San Diego, United States | Sun Valley, United States |
| Geographic footprint | 51 locations across 20 countries in North America, Central and South America, Europe and Asia; the largest concentration is in Latin America | United States focused, with local in-person forums grouped by member geography and virtual "elastic" forums; the pre-application form accepts company addresses in any country. |
| Members | 3,000as of January 2025 | Not publicly disclosed. The organization refers to drawing on "hundreds of Evergreen companies" for its content platform but publishes no membership total. |
| Chapters | 51 | The organization runs local in-person forums based on member geography plus virtual forums, but does not publish a count or a list of locations. |
| Primary audience | CEOs, owners and presidents, with parallel tracks for C-suite executives reporting to the CEO and for high-potential managers on leadership programmes | Chief executives, presidents and executive chairs with significant ownership of private companies that have deliberately rejected the venture-backed or IPO path, with at least US$10 million in annual revenue. |
| Typical member | Members are CEOs, owners and presidents of non-competing businesses, plus CXOs and upper management reporting directly to the CEO in the Key Executive track and high performers selected for leadership programmes in the High Potentials track. REF publishes no revenue or headcount threshold, though its application form asks for employee count and revenue. | Members must lead a closely held private company whose owners have no legal right to compel a sale or flotation, must hold a significant ownership stake themselves, and must have five years as chief executive or president of the current company or prior experience in that role. The company must have at least US$10 million in annual revenue, be cash-flow positive for two years and show consistent growth. |
| Qualification | ||
| Role or title | Top Executive track: CEO, owner, president or equivalentREF's own application page lists the candidate requirements for each track.verified September 2026 · source ↗ | Must be the CEO, President or Executive Chairperson of the company"Prospective members must be the CEO, President, or Executive Chairperson of an Evergreen company with a significant ownership stake."verified September 2026 · source ↗ |
| Minimum company revenue | No published minimum company revenue | At least US$10M in annual revenueAccompanied by two further financial tests: cash-flow positive for two years, and consistent growth.verified September 2026 · source ↗ |
| Minimum ownership stake | No published minimum ownership stake | Must hold a significant ownership stake; the business must be closely held with value-aligned owners who have no legal right to compel a sale or IPONo percentage is specified. The ownership test effectively excludes companies with investors who can force an exit.verified September 2026 · source ↗ |
| Invitation required | Sometimes | No |
| Sponsor required | No | Sometimes |
| Application process | Applicants complete an online form selecting one of three tracks (Top Executive, Key Executive or High Potentials) and supplying title, industry, city, country, employee count and revenue. REF then contacts the candidate and, if accepted, places them in a local Forum of non-competing executives with a certified Forum Leader. | Candidates who believe they meet the criteria complete a two-step pre-application covering personal details and company information: legal structure, year founded, annual revenue for the last fiscal year, employee count, number of years profitable, website and address. The organization says it reviews every pre-application in detail and that a member of the team then makes contact to discuss next steps. Staff biographies refer to a candidacy process and to working with member referrals. |
| Selectivity | Not publicly disclosed. REF describes its peer groups as "by invitation only" while operating a public application form, and publishes no acceptance data. | Not publicly disclosed. The criteria are published in full but no acceptance rate, application volume or waitlist information is given. |
| Cost | ||
| Annual dues | Not publicly disclosed. REF publishes no membership price; the Peer Resources directory also recorded fees as unavailable at publication. Members are described elsewhere as paying monthly dues.verified September 2026 · source ↗ | Not publicly disclosed. No membership fee appears anywhere on the public site; prospective members are routed to a pre-application and a follow-up conversation.verified September 2026 · source ↗ |
| Initiation fee | Not publicly disclosedverified September 2026 | Tugboat Institute publishes detailed eligibility criteria but no pricing of any kind. |
| Event costs | Member fees are not publicly disclosed anywhere on REF's site. The only published figures are franchise costs for prospective Forum Leaders. | Not publicly disclosed. The Summit, Exemplar Visit and Gathering of Teams are described as member experiences without published pricing.verified September 2026 · source ↗ |
| Membership term | Not documented | Not publicly disclosed |
| Structure | ||
| Meeting frequency | One Forum morning each month, plus webinars, community events and curated trips and retreats | Forum groups meet through the year, locally in person or virtually; three annual gatherings - the Summit each summer in Sun Valley, the Exemplar Visit at a member company each autumn, and the Gathering of Teams in February |
| Peer forums | Forums of 12-15 executives from non-competing industries, led by a certified REF Forum Leader, meeting monthly in a three-part structure: expert insight, round table, and a member case | Confidential forum groups described as a structured environment balancing personal growth and business insight; members join either a local in-person forum based on geography or an "elastic" forum that meets virtually through the year and in person at Tugboat events |
| Confidentiality | Forums are described as confidential, high-trust environments built on transparency and trust; one senior figure calls the Forum a "Circle of Trust" | The organization describes its forums as "a safe space" and its community as defined by trust; it publishes no written confidentiality policy. |
| Time commitment | One morning a month for the Forum, plus optional events | Not documented |
| Organized as | Forum-based, Chapter-based, Event-focused | Forum-based, Event-focused, Chapter-based, Virtual |
| Confidential peer forums | Yes | Yes |
| Local chapters | Yes | Yes |
| Virtual membership | Not documented | Partial |
| Online community | Yes | Yes |
| Member directory | Yes | Not documented |
| Events | Yes | Yes |
| Programming | ||
| Educational programming | Yes | Yes |
| Leadership development | Yes | Yes |
| Retreats | Yes | Yes |
| Travel | Yes | Partial |
| Family programming | No | Partial |
| Spouse and partner programming | No | Not documented |
| Next-generation programming | Partial | Partial |
| Investment discussions | Partial | No |
| Investment opportunities | No | No |
| Philanthropic component | No | No |
| Networking emphasis | High | High |
| Social emphasis | Medium | Medium |
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Last verified: not yet reviewed
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Sources
Drawn from the sources listed on each page: REF · Tugboat Institute