Public & Societal Benefit (W050) IRS Verified DX Registered 990 on File

RAND CORPORATION

EIN: 95-1958142 · SANTA MONICA, CA 90401-3208 · United States · FY 2025 Data

3 out of 5 58 / 100 Based on 2+ years of filings

Financial strength (30%) 92/100

Reliability (20%) 55/100

Effectiveness (25%) 76/100

Impact (25%) No data yet

Financial data: FY 2025 · Scored 9/13/2026

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Mission Statement

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis.

Financial Overview — FY 2025

$534.6M

Total Revenue

$527.3M

Total Expenses

$514.7M

Net Assets

2556

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 83.3%

Fundraising Efficiency N/A

Operating Reserve 11.71x

Liability-to-Asset 33.4%

Revenue Diversification 91.4%

Executive Compensation $5.5M

Compared with Peers

FY 2025

Compared with 7 similar organizations (United States, Public & Societal Benefit, $100M and over in expenses), FY 2025.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	83.3%	85.7%	P10P90	Below median
Admin expense ratio Management and general / total expenses · lower is better	15.8%	9.9%	P10P90	Below median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	0.9%	0.0%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	11.7 mo	1.0 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	33.4%	33.4%	P10P90	Below median
Revenue concentration Share of revenue from the largest source · lower is better	91.4%	94.8%	P10P90	Top quarter
Surplus margin Surplus as a share of revenue	1.4%	1.4%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2025	$534.6M	$527.3M	$514.7M	83.3%	2556
2023	$467.2M	$413.0M	$465.5M	77.9%	2296
2022	$399.1M	$370.6M	$390.0M	78.5%	2211
2021	$735.5M	$357.2M	N/A	—	2225

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Organization Details

EIN: 95-1958142
State: CA
City: SANTA MONICA
ZIP: 90401-3208
Classification: W050
Category: Public & Societal Benefit
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1948
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

★★★★★ 80–100 ★★★★☆ 60–79 ★★★☆☆ 40–59 ★★☆☆☆ 20–39 ★☆☆☆☆ 1–19

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The coverage grade (A to D) says how much filing data the score rests on; NONE means there is not enough to rate.
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"Compared with peers" places the charity's key ratios against organizations of the same country, sector and size.

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