Rand Corporation
PO Box 2138, Santa Monica, CA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $534,596,094 | $527,283,384 | $514,748,847 |
| FY2024 | $461,536,647 | $448,980,752 | $505,681,033 |
| FY2023 | $467,202,380 | $413,015,979 | $465,505,201 |
| FY2022 | $399,092,198 | $370,637,767 | $389,963,739 |
| FY2021 | $381,202,407 | $357,207,031 | $407,587,232 |
| FY2020 | $383,157,886 | $367,663,561 | $335,075,221 |
| FY2019 | $399,134,698 | $375,355,547 | $318,566,050 |
| FY2018 | $416,682,370 | $364,067,682 | $310,263,091 |
| FY2017 | $344,262,026 | $339,414,517 | $280,898,973 |
| FY2016 | $326,379,841 | $326,657,720 | $238,392,801 |
| FY2015 | $322,184,247 | $312,647,357 | $232,352,364 |
| FY2014 | $292,975,807 | $283,348,223 | $254,125,714 |
| FY2013 | $289,630,547 | $275,076,526 | $239,461,396 |
| FY2012 | $287,428,038 | $279,430,371 | $198,716,346 |
Form 990 filings
The returns filed by Rand Corporation (EIN 95-1958142), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $488,777,692 | 91% |
| Program service revenue | $16,492,578 | 3% |
| Other revenue | $29,325,824 | 5% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $439,044,364 | 83% |
| Management & general | $83,496,557 | 16% |
| Fundraising | $4,742,463 | 1% |
What the numbers show
- Contributions & grants made up 91% of total revenue in FY2025.
- Program services accounted for 83% of functional expenses, management & general 16%, and fundraising 1%.
- 83% of functional expenses went to program services in FY2025. That is higher than 34.8% of 23 Public & Societal Benefit organizations in CA.
- Net assets covered about 11.7 months of expenses at the end of the reporting year. That puts it in the 47th percentile among 725 Public & Societal Benefit organizations in CA.
- Total revenue was the highest among 746 Public & Societal Benefit organizations in CA.
- Total revenue rose from $287,428,038 in FY2012 to $534,596,094 in FY2025. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 1 of 14 reported years (FY2016).
- Net assets grew from $198,716,346 to $514,748,847 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
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IRS status
| Ruling year | 1950 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | W050 — Public & Societal Benefit (in CA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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