RAND CORPORATION
1776 MAIN ST, 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 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $488,777,692 | 97% |
| Program service revenue | $16,492,578 | 3% |
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 97% 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 727 Public & Societal Benefit organizations in CA.
- Total revenue was higher than 100% of 748 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.
- Donations are generally tax-deductible (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
HELP IMPROVE POLICY AND DECISION MAKING THROUGH RESEARCH AND ANALYSIS.
IRS status
| Ruling year | 1950 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | W050 — Public & Societal Benefit |
| Donations | Donations are generally tax-deductible (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 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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