The Rand Corporation

Santa Monica, CA, 904072138 (310) 393-0411 Est. 1948 EIN 95-1958142

W050 - Public & Societal Benefit 990 - Public charity return 501(c)(3)

Mission

HELP IMPROVE POLICY AND DECISION MAKING THROUGH RESEARCH AND ANALYSIS.

Total Revenue

$534,596,094

Total Expenses

$527,283,384

Net Assets

$514,748,847

2,556 employees 12 volunteers

From latest filing (tax period ending 2025-09-30)

Operating Reserve

11.7 months Healthy

Net assets / monthly expenses

Year-over-Year Change

Revenue ↑ 15.8%

Expenses ↑ 17.4%

Revenue Sources

Contributions 91.4% Earned revenue 3.1% Investment 5.4%

Expense Breakdown

Program 83.3% Management 15.8% Fundraising 0.9%

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Year	Revenue	Expenses	Net Assets
2024 990 - Public charity return Oct 1, 2024 to Sep 30, 2025	$534,596,094 ↑	$527,283,384	$514,748,847
2023 990 - Public charity return Oct 1, 2023 to Sep 30, 2024	$461,536,647 ↓	$448,980,752	$505,681,033
2022 990 - Public charity return Oct 1, 2022 to Sep 30, 2023	$467,202,380	$413,015,979	$465,505,201
2022 990 - Public charity return Oct 1, 2022 to Sep 30, 2023	$467,202,380 ↑	$413,015,979	$465,505,201
2021 990 - Public charity return Oct 1, 2021 to Sep 30, 2022	$399,092,198 ↑	$370,637,767	$389,963,739
2020 990 - Public charity return Oct 1, 2020 to Sep 30, 2021	$381,202,407 ↓	$357,207,031	$407,587,232
2019 990 - Public charity return Oct 1, 2019 to Sep 30, 2020	$383,157,886 ↓	$367,663,561	$335,075,221
2017 990 - Public charity return Oct 1, 2017 to Sep 30, 2018	$416,682,370	$364,067,682	$310,263,091