REGULATORY ASSISTANCE PROJECT (EIN 010471151) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

KATHERINE DIXON

Phone

8022238199

Tax Period

2024-01-01 to 2024-12-31

REGULATORY ASSISTANCE PROJECT is a 501(c)(3) with EIN 010471151, based in MONTPELIER, VT. Founded in 1992, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $10,015,374 in total revenue and $9,747,198 in total expenses, with net assets of $8,589,557.

Mission

REGULATORY ASSISTANCE PROJECT (RAP) IS AN INDEPENDENT, GLOBAL ORGANIZATION ADVANCING POLICY INNOVATION, EDUCATION, AND THOUGHT LEADERSHIP WITHIN THE ENERGY COMMUNITY TO CREATE A CLEAN, RELIABLE, EQUITABLE, AND COST-EFFICIENT ENERGY FUTURE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,953,099

Program Service Revenue $894,081

Investment Income $152,869

Other Revenue $15,325

TOTAL REVENUE $10,015,374

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,023,332

Fundraising Expenses $130,656

Program Expenses $8,081,214

Other Expenses $3,723,866

TOTAL EXPENSES $9,747,198

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,015,374	$8,418,755	+0.2%
Expenses	$9,747,198	$10,488,124	-0.1%
Net Income	$268,176	$-2,069,369	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$625,922

Total Directors

$10,000

Key Employees

$1,534,097

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD SEDANO	CEO PARTIAL YEAR /PRINCIPAL	40.00	Officer	$246,438	$47,706	$294,144
NOELLE MACKAY	COO (TO JUNE '24)	40.00	Officer	$238,384	$21,851	$260,235
DAMALI HARDING	PRINCIPAL	40.00	Key Emp	$206,403	$49,512	$255,915
CARL B LINVILL	PRINCIPAL	40.00	Key Emp	$231,746	$18,374	$250,120
MAX DUPUY	PRINCIPAL	40.00	Key Emp	$216,141	$13,894	$230,035
DAVID FARNSWORTH	PRINCIPAL	40.00	Key Emp	$211,404	$14,741	$226,145
RONNY SANDOVAL	PRINCIPAL	40.00	Key Emp	$167,466	$32,611	$200,077
RICHARD COWART	PRINCIPAL	40.00	Key Emp	$182,570	$11,788	$194,358
CAMILLE KADOCH	PRINCIPAL, GENERAL COUNSEL	40.00	Key Emp	$166,107	$11,340	$177,447
REBECCA WIGG	COMMUNICATIONS DIRECTOR	40.00	Highest	$163,760	$10,904	$174,664
MARK LEBEL	SENIOR ASSOCIATE	40.00	Highest	$145,559	$9,739	$155,298
SHAWN ENTERLINE	SENIOR ASSOCIATE	40.00	Highest	$140,100	$11,836	$151,936
JUDITH MILLER	DIRECTOR GLOBAL PEOPLE OPERATIONS	40.00	Highest	$141,757	$8,360	$150,117
DAVID MOSKOVITZ	CEO PARTIAL YEAR /PRINCIPAL	40.00	Officer	$63,151	$6,392	$69,543
AMANDA ORMOND	CHAIR	1.00	Officer Director	$2,000	$0	$2,000
PETER BRADFORD	DIRECTOR	1.00	Director	$2,000	$0	$2,000
JOANNA LEWIS	DIRECTOR	1.00	Director	$2,000	$0	$2,000
SYDNEY MACKY MCLEARY IV	DIRECTOR	1.00	Director	$2,000	$0	$2,000
ANAND PATWARDHAND	DIRECTOR (FROM JUN '24)	1.00	Director	$1,500	$0	$1,500
FRANKLIN TUGWELL	DIRECTOR (TO MAR '24)	1.00	Director	$500	$0	$500
MIRANDA SCHREURS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DOUGLAS OGDEN	TREASURER, SECRETARY	1.00	Officer Director	$0	$0	$0
KATIE MCCORMACK	DIRECTOR (FROM JUN '24)	1.00	Director	$0	$0	$0
ALISON SILVERSTEIN	DIRECTOR (FROM JUN '24)	1.00	Director	$0	$0	$0
HOWARD WENGER	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$10,015,374	$9,747,198	$10,783,369	$268,176
2023	$8,418,755	$10,488,124	$10,509,027	$-2,069,369
2022	$11,298,973	$8,639,220	$12,227,815	$2,659,753
2021	$8,874,874	$6,762,575	$9,630,578	$2,112,299
2021	$8,874,874	$6,762,575	$9,630,578	$2,112,299
2020	$8,060,059	$7,253,673	$7,537,041	$806,386
2019	$7,861,211	$8,609,439	$6,736,910	$-748,228
2018	$7,980,411	$7,726,366	$7,640,348	$254,045

REGULATORY ASSISTANCE PROJECT