Carol Hedges, the executive director and co-founder of the Colorado Fiscal Institute, announced her retirement from the advocacy group effective in December of this year.

“It’s been my incredible honor to help found CFI, and lead a team of dedicated and passionate people who care deeply about fairness, equity, and the goal of creating widespread prosperity for all Coloradans,” Hedges said in a statement.

She served as the leader of the nonprofit since its creation in 2013. Today, CFI has 10 staff and researches issues related to economic and fiscal policy, as well as trains “tax ambassadors” to understand financial constraints specific to Colorado.

Prior to CFI, Hedges worked for the governor of Kansas from 1982 to 1986, then for the National Governors’ Association. She moved to Denver in 1996, joining the administration of Gov. Roy Romer. Hedges then joined the Bell Policy Center and Colorado Fiscal Policy Institute.

“Under Carol’s leadership, CFI has brought people from across the state and many diverse views together around these objectives and built an organization whose expertise on economic and fiscal policy is highly valued by many state and community leaders,” said Trinidad Rodriguez, chair of CFI’s board of directors.

The author of “Ten Years of TABOR,” Hedges is an expert on the effects of Colorado’s 1992 Taxpayer Bill of Rights amendment. In the last election cycle, she was one of the proponents of a proposed ballot initiative to repeal TABOR, as well as several other measures to create a progressive state income tax.

The board has started a strategical planning process, and will subsequently search for a new executive director.