The Rand Corporation (EIN 951958142) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Phone

3103930411

Tax Period

2023-10-01 to 2024-09-30

The Rand Corporation, founded in 1948, is a major nonprofit in the Public & Societal Benefit sector that reported $461.5M in total revenue in fiscal year 2023.

Mission

HELP IMPROVE POLICY AND DECISION MAKING THROUGH RESEARCH AND ANALYSIS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $429,967,857

Program Service Revenue $15,541,473

Investment Income $15,679,963

Other Revenue $347,354

TOTAL REVENUE $461,536,647

Expense Breakdown

Grants Paid $3,254,172

Salaries & Benefits $322,426,353

Fundraising Expenses $5,142,573

Program Expenses $354,300,890

Other Expenses $123,300,227

TOTAL EXPENSES $448,980,752

Year-over-Year Comparison

	2023	2022	Change
Revenue	$461,536,647	$467,202,380	0.0%
Expenses	$448,980,752	$413,015,979	+0.1%
Net Income	$12,555,895	$54,186,401	-0.8%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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

2396

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

$4,041,539

Total Directors

$1,145,719

Key Employees

$398,671

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jason Matheny	President and CEO	40.0	Officer Director	$1,042,328	$70,691	$1,113,019
CARL O BILDT	TRUSTEE	1.0	Director	$2,100	$0	$2,100
CHUCK HAGEL	TRUSTEE	1.0	Director	$4,200	$0	$4,200
DAVID L PORGES	TRUSTEE	1.0	Director	$0	$0	$0
FRANCIS FUKUYAMA	TRUSTEE	1.0	Director	$0	$0	$0
JANET NAPOLITANO	TRUSTEE	1.0	Director	$2,100	$0	$2,100
JOEL Z HYATT	TRUSTEE	1.0	Director	$0	$0	$0
KAREN ELLIOTT HOUSE	TRUSTEE	1.0	Director	$0	$0	$0
KENNETH FEINBERG	TRUSTEE (PART YEAR)	1.0	Director	$1,400	$0	$1,400
LEONARD D SCHAEFFER	TRUSTEE	1.0	Director	$0	$0	$0
LIONEL C JOHNSON	TRUSTEE	1.0	Director	$4,200	$0	$4,200
MARY E PETERS	TRUSTEE	1.0	Director	$2,100	$0	$2,100
MEGHAN O'SULLIVAN	TRUSTEE (PART YEAR)	1.0	Director	$0	$0	$0
MICHAEL E LEITER	TRUSTEE	1.0	Director	$2,100	$0	$2,100
MICHAEL LYNTON	TRUSTEE	1.0	Director	$0	$0	$0
PEDRO JOSE GREER JR	TRUSTEE	1.0	Director	$2,100	$0	$2,100
PETER LOWY	TRUSTEE	1.0	Director	$0	$0	$0
PHILIP LADER	TRUSTEE (PART YEAR)	1.0	Director	$3,500	$0	$3,500
RAYNARD S KINGTON	TRUSTEE	1.0	Director	$0	$0	$0
RICHARD J DANZIG	TRUSTEE	1.0	Director	$6,100	$0	$6,100
SOLEDAD O'BRIEN	TRUSTEE	1.0	Director	$2,800	$0	$2,800
TERESA ROSEBOROUGH	TRUSTEE	1.0	Director	$0	$0	$0
ANDREW HOEHN	SVP, RESEARCH AND ANALYSIS	40.0	Officer	$641,216	$56,814	$698,030
ERIC PELTZ	SVP, Finance & Operations	40.0	Officer	$570,023	$77,478	$647,501
MICHAEL J JANUZIK	VP, CHIEF FINANCIAL OFFICER	40.0	Officer	$468,561	$66,297	$534,858
Nancy Staudt	Dean, Pardee RAND Graduate School	40.0	Officer	$471,581	$52,193	$523,774
ROBERT CASE	VP, GENERAL CNSL & CORP SEC	40.0	Officer	$447,122	$77,235	$524,357
LESTER ARNOLD	VP, CHIEF HUMAN RESOURCES OFFICER	40.0	Key Emp	$338,232	$60,439	$398,671
ANITA CHANDRA	VP, SEW	40.0	Highest	$421,570	$51,512	$473,082
KEVIN JACK RILEY	VP, HSRD	40.0	Highest	$453,117	$62,177	$515,294
MICHAEL WEITZENFELD	VP, CIO	40.0	Highest	$424,407	$75,114	$499,521
PETER HUSSEY	VP, HEALTH CARE	40.0	Highest	$410,692	$76,200	$486,892
WINFIELD BOERCKEL	VP, OFFICE OF EXTERNAL AFFAIRS	40.0	Highest	$426,260	$75,367	$501,627
JENNIFER GOULD	FORMER OFFICER	40.0		$300,388	$68,991	$369,379
MICHAEL RICH	FORMER PRES & CEO	15.0		$255,849	$735	$256,584

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	$461,536,647	$448,980,752	$743,919,280	$12,555,895
2023	$467,202,380	$413,015,979	$703,697,953	$54,186,401
2023	$467,202,380	$413,015,979	$703,697,953	$54,186,401
2022	$399,092,198	$370,637,767	$567,996,770	$28,454,431
2021	$381,202,407	$357,207,031	$605,646,656	$23,995,376
2020	$383,157,886	$367,663,561	$552,267,845	$15,494,325
2019	$399,134,698	$375,355,547	$514,270,972	$23,779,151
2018	$416,682,370	$364,067,682	$515,437,653	$52,614,688

The Rand Corporation