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FURTHER THE ORG'S EXEMPT PURPOSE SCHEDULE D, PART III, LINE 4 THE DONATED ARTWORK ASSISTS RAND IN ITS MISSION AS IT ALLOWS RAND TO OFFER COLLECTION TOURS AS PART OF DONOR CULTIVATION AND CONTINUES TO BE A FEATURED PART OF RAND'S ART AND ARCHITECTURE TOURS FOR THE COMMUNITY. TRUST ESCROW AND CUSTRODIAL ARRANGEMENTS SCHEDULE D, PART IV, LINE 1B RAND CONTRIBUTES TO, AND IS THE SOLE TRUSTEE OF, A VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION IRREVOCABLE TRUST THAT IS USED TO PARTIALLY FUND HEALTH CARE BENEFITS FOR RETIREES AND THEIR ELIGIBLE DEPENDENTS. BENEFICIARIES SHARE SUBSTANTIALLY IN THE COST OF COVERAGE. USES OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 RAND'S ENDOWMENT CONSISTS OF APPROXIMATELY 28 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. IT HAS BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT FUNDS. RAND HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO THE PROGRAMS SUPPORTED BY THE ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. DETAIL OF AMOUNT SCHEDULE D, PART XI, LINE 2D RAND EUROPE REVENUE $ 11,111,677 DETAIL OF AMOUNT SCHEDULE D, PART XI, LINE 4B SUBLEASE REVENUE $ 996,400 INTEREST INCOME GROSS-UP $ 100,074 MISCELLANEOUS ($ 2,753) ------------- TOTAL $ 1,093,721 DETAIL OF AMOUNT SCHEDULE D, PART XII, LINE 2D RAND EUROPE EXPENSE $ 11,374,948 DETAIL OF AMOUNT SCHEDULE D, PART XII, LINE 4B SUBLEASE REVENUE $ 996,400 INTEREST INCOME GROSS-UP $ 100,074 MISCELLANEOUS ($ 2,753) ----------- TOTAL $1,093,721 Middle East and North Africa 2 6 Program Services PUBLIC POLICY RESEARCH 6416674 Russia and the Newly Independent States 0 0 Program Services PUBLIC POLICY RESEARCH 182026 Central America and the Caribbean 0 0 Investments 16156722 2 6 2 6 22755422 22755422 true false true true true true ACCOUNTING METHOD SCHEDULE F, PART I, LINE 3, COLUMN F CONSISTENT WITH OTHER EXPENDITURES DISCLOSED IN THIS 990 FORM, THE PROGRAM SERVICE EXPENDITURES LISTED IN SCHEDULE F, PART I ARE SHOWN USING AN ACCRUAL BASIS OF ACCOUNTING. true FELLOWSHIP GRANTS 11 354932 DESCRIPTION OF ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF FUNDS SCHEDULE I, PART I, LINE 2 TO ENHANCE ITS RESEARCH AGENDA AND PROVIDE VALUABLE TRAINING IN POLICY ANALYSIS, THE RAND CORPORATION PARTICIPATES IN A NUMBER OF PROGRAMS THAT PROVIDE FUNDING FOR FELLOWSHIPS. OUTSIDE ORGANIZATIONS, AGENCIES, AND FOUNDATIONS OCCASIONALLY MAKE FELLOWSHIPS AVAILABLE THROUGH GRANTS AWARDED TO RAND. SUCH OPPORTUNITIES ARE GENERALLY WIDELY ADVERTISED AND A COMPETITVE APPLICATION PROCESS DETERMINES THE FELLOWSHIP RECIPIENT. FELLOWSHIP FUNDS ARE SEGREGRATED AND MANAGEMENT ACTIVELY MONITORS SPENDING TO ENSURE ANY AND ALL REQUIREMENTS ARE MET. 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BENEFITS ARE TAXABLE AND THUS REPORTED AS INCOME BY THE INDIVIDUAL. THESE BENEFITS ARE DETAILED IN AN EXPATRIATE AGREEMENT SIGNED BY THE INDIVIDUALS. TRAVEL IS AUTHORIZED FOR SPOUSES OF TRUSTEES AND OFFICERS TWICE A YEAR FOR THE BOARD OF TRUSTEE MEETINGS. ALL SUCH TRAVEL EXPENSES ARE INCLUDED IN INCOME. SCHEDULE J, PART I, LINE 4A IN OCTOBER 2011, JAMES THOMSON RETIRED AS THE PRESIDENT AND CEO. IN NOVEMBER 2011, A SEVERANCE PAYMENT OF $661,542 WAS GRANTED BY THE BOARD AND PAID IN JANUARY 2012. AMOUNTS RELATED TO THE SEVERANCE PLAN WERE SHOWN IN PREVIOUS 990 FORMS, IN THE YEARS EARNED, WITHIN SCHEDULE J UNDER DEFERRED COMPENSATION; CONSEQUENTLY, THE FULL SEVERANCE AMOUNT IS REPORTED IN THE "COMPENSATION REPORTED IN PRIOR FORM 990" COLUMN IN SCHEDULE J FOR CY2012. ADDITIONALLY, AS THE PAYMENT WAS MADE TO THOMSON IN JANUARY 2012 AND IS REFLECTED IN HIS W-2 FORM FOR CY2012, THE AMOUNT IS ALSO REPORTED IN "OTHER REPORTABLE COMPENSATION" ON SCHEDULE J FOR CY2012. SCHEDULE J, PART I, LINE 4B IN CY2012, JAMES THOMSON AND MICHAEL RICH RECEIVED PAYMENTS RELATED TO A NONQUALIFIED SUPPLEMENTAL EXCECUTIVE RETIREMENT PLAN (SERP) PLAN. THE PLAN HAD TWO PARTICIPANTS UNTIL NOVEMBER 2011 WHEN JAMES THOMSON RETIRED AS PRESIDENT AND CEO; AT THIS TIME MICHAEL RICH BECAME THE ONLY PARTICIPANT OF THE PLAN. THE ORGANIZATIONS SERP PROVIDES A BENEFIT DETERMINED BY A FORMULA DRIVEN BY COMPENSATION, CONTINUOUS SERVICE AND AGE. THE BENEFIT IS PAID IMMEDIATELY AFTER THE END OF THE CALENDAR YEAR. THE MAXIMUM DEFERRAL AMOUNT UNDER SECTION 457(B), $17,500 FOR CY2012, IS DEPOSITED INTO A RABBI TRUST HELD BY TIAA-CREF (CUSTODIAN), WHICH ALLOWS THE EXECUTIVES TO DIRECT HOW THE BENEFITS WILL BE INVESTED WITHIN THEIR NONQUALIFIED RETIREMENT ACCOUNTS. THE REMAINDER ACCOUNTS ARE PAID DIRECTLY TO THE PARTICIPANTS AND ARE INCLUDED AS PART OF THE W-2 EARNINGS UNDER SECTION 457(F). CY2012 PAYMENTS RELATED TO SECTION 457(F), INCLUDED IN SCHEDULE J, WERE $49,586 FOR THOMSON AND $14,054 FOR RICH. SCHEDULE J, PART I, LINE 7 AS NOTED IN SCHEDULE O, PART OF THE BONUS PROVIDED TO PARTICIPANTS OF THE VARIABLE COMPENSATION PROGRAM IS DISCRETIONARY. A PREDETERMINED PERCENTAGE OF THE VARIABLE PAY MAY BE AWARDED AT THE DISCRETION OF THE CEO. THE VARIABLE COMPENSATION PROGRAM IS CONTINGENT ON WHETHER CERTAIN GOALS ARE ACHIEVED, INCLUDING CORPORATE FINANCIAL AND STRATEGIC ACHIEVEMENTS AS WELL AS INDIVIDUAL GOALS. THE CEO, CFO, UNIT AND DEPARTMENT HEADS, AND OTHERS PARTICIPATE IN THE PROGRAM. AN ANNUAL REVIEW PROCESS, INCLUDING REVIEW BY THE EXECUTIVE COMMITTEE OR COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE, HELPS ENSURE THAT GOAL MEASUREMENT IS VALIDATED AND PAYOUTS ARE IN ACCORDANCE WITH THE PROGRAM. SCHEDULE J, PART II, COLUMN B(III) HANINE SALEM, CARL NEU, AND OBAIDULLAH YOUNOSSI HAD EXPATRIATE AGREEMENTS AT SOME TIME DURING THE COURSE OF CY2012. BENEFITS FROM SUCH AGREEMENTS ARE TAXABLE AND CONVEYED AS OTHER REPORTABLE COMPENSATION. A CA INFRASTRUCTURE & ECONOMIC DEVELOPMENT PLAN 630304653 13033WK51 2008-05-13 34975000 SEE PART VI false false false B CA INFRASTRUCTURE & ECONOMIC DEVELOPMENT PLAN 630304653 13033WK69 2008-06-02 93565000 SEE PART VI false false false A 0 0 34975000 0 0 0 0 0 0 0 0 0 2004 true false true true B 0 0 96565000 0 0 0 1035000 0 0 0 0 0 2004 true false true true A 0.00000 0.00000 0.00000 0.00000 B 0.00000 0.00000 0.00000 A false false false true true true DEUTSCHE BANK 34.5 false false false 0 false true B false false false true true true BARCLAYS 34.7 false false false 0 false true A true B true PURPOSE OF BOND ISSUES 0 SCHEDULE K, PART I, LINE 1, COLUMN (F) SERIES 2008A BONDS REFUNDED SERIES 2007 BONDS, WHICH THEMSELVES REFUNDED SERIES 2002A BONDS. THE SERIES 2008A BONDS WERE ISSUED ON 5/13/2008. THE SERIES 2002A BONDS WERE ISSUED ON 7/2/2002. SERIES 2008B BONDS REFUNDED SERIES 2002B BONDS. THE SERIES 2008B BONDS WERE ISSUED ON 6/2/2008. THE 2002B BONDS WERE ALSO ISSUED ON 7/2/2002. PER IRS GUIDANCE CONTAINED IN THE FORM 990 SCHEDULE K INSTRUCTIONS, ORGANIZATIONS WHO HAVE OUTSTANDING BONDS (OVER $100,000) ISSUED AFTER 12/31/2002 MUST FILE A SCHEDULE K. RAND THEREFORE FILES A SCHEDULE K DUE TO ITS OUTSTANDING 2008A AND 2008B BONDS. HOWEVER, ORGANIZATIONS REPORTING ON BONDS ISSUED AFTER 12/31/2002 BUT WHICH REFUNDED BONDS ISSUED PRIOR TO 12/31/2002 (WHETHER DIRECTLY OR THROUGH A SERIES OF REFUNDINGS) DO NOT REPORT INFORMATION IN PART III (PRIVATE BUSINESS USE) OF SCHEDULE K. RAND THEREFORE DOES NOT REPORT INFORMATION IN PART III OF SCHEDULE K. X 60 120000 APPRAISED PRICE X 3 3781736 OTHER 2 false true true SCHEDULE M, PART I, COLUMN B THE AMOUNTS REPORTED IN COLUMN B ARE THE RESPECTIVE TOTALS OF THE TYPES OF CONTRIBUTED PROPERTY. SCHEDULE M, PART I, LINE 32A AN INDEPENDENT REAL ESTATE BROKER SOLD THE THREE PIECES OF DONATED PROPERTY AND WAS COMPENSATED FOR THESE SERVICES AT FAIR MARKET VALUE. PROGRAM SERVICE ACCOMPLISHMENTS PART III, LINE 4A RAND IS A PUBLIC CHARITY AND AS SUCH RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM THE GOVERNMENT AND THE GENERAL PUBLIC (SEE ALSO SCHEDULE A). THIS SUPPORT IS NOT CONSIDERED PROGRAM SERVICE REVENUE AS DEFINED BY THE IRS AND THUS NOT REPORTED ON PART III, LINE 4A. HOWEVER, LIKE ALL PUBLIC CHARITIES, THIS SUPPORT IS USED TO FUND RAND'S PROGRAM SERVICE EXPENSES WHICH ARE REPORTED ON PART III, LINE 4A. ORGANIZATION'S GOVERNING BODY PROCEDURES FOR FORM 990 REVIEW PART VI, SECTION B, LINE 11B RAND SUMMARIZES THE INFORMATION TO BE INCLUDED ON THE FORM 990 AND PROVIDES THE SUPPORT TO A THIRD-PARTY TAX FIRM SO THAT A DRAFT RETURN CAN BE COMPILED. THIS FIRM PROVIDES TAX GUIDANCE THROUGHOUT THE YEAR IN ADDITION TO PROVIDING GUIDANCE ON RETURN PREPARATION. ONCE THE DRAFT FORM 990 IS COMPILED, IT IS REVIEWED BY VARIOUS LEVELS OF MANAGEMENT WITHIN RAND, INCLUDING THE CFO. THE RAND BOARD OF TRUSTEES HAS DELEGATED TO THE AUDIT COMMITTEE THE RESPONSIBILITY FOR THE OVERSIGHT OF THE FORM 990. THEREFORE, ONCE THE FORM 990 IS FINALIZED, IT IS THOROUGHLY REVIEWED BY THE AUDIT COMMITTEE (ALONG WITH THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS) AT A MEETING IN JANUARY AND APPROVED FOR RELEASE. THE FORM 990 IS SUBMITTED TO THE IRS IN FEBRUARY. WRITTEN CONFLICT OF INTEREST POLICY ENFORCEMENT PART VI, SECTION B, LINE 12A NEW STAFF MEMBERS RECEIVE COPIES OF SEVERAL KEY POLICIES, INCLUDING INSTITUTIONAL PRINCIPLES, CONFLICT OF INTEREST, QUALITY ASSURANCE, AND OTHER ESSENTIAL POLICIES. CONFLICT OF INTEREST, CORPORATE INTEGRITY, INSTITUTIONAL PRINCIPLES, AND ETHICS POLICIES ARE POST PROMINENTLY ON RAND'S INTRANET. ALL EMPLOYEES ARE REQUIRED TO DISCLOSE OUTSIDE PROFESSIONAL ACTIVITIES, AND ALL KEY STAFF MEMBERS AND STAFF WHO WORK ON RESEARCH PROJECTS ARE REQUIRED TO DISCLOSE RELATIONSHIPS AND FINANCIAL INTERESTS: (I) THAT ARE RELATED TO THEIR RESEARCH RESPONSIBILITIES, OR (II) THAT COULD THAT COULD BRING INTO QUESTION THE OBJECTIVITY OF THE RESEARCH. SUCH DISCLOSURES MUST BE MADE AT LEAST ANNUALLY, AND STAFF ALSO MUST REVIEW AND ACKNOWLEDGE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND COMPLETE RELEVANT TRAINING. PROSPECTIVE TRUSTEES ADVISE KEY MANAGEMENT OF ANY POSSIBLE CONFLICTS OF INTEREST BEFORE JOINING THE BOARD OF TRUSTEES. MOREOVER, ON AN ANNUAL BASIS EACH TRUSTEE IS ASKED BY THE VP, GENERAL COUNSEL, CORPORATE SECRETARY TO PROVIDE A LIST OF AFFILIATIONS IN WRITING THAT MAY RAISE A CONFLICT OF INTEREST ISSUE AND SIGN THE PRINCIPLES OF CONDUCT STATEMENT WHICH ASSERTS THAT THEY WOULD DISQUALIFY THEMSELVES FROM PARTICIPATING IN ANY RAND MATTERS IN WHICH THEY BELIEVE MAY GIVE RISE TO A POSSIBLE CONFLICT OF INTEREST. RAND MAINTAINS A FORMAL RECORD OF ALL INSTANCES WHERE TRUSTEES RECUSE THEMSELVES BECAUSE OF A POSSIBLE CONFLICT OF INTEREST. ADDITIONALLY, RAND'S GENERAL COUNSEL HAS EACH OFFICER COMPLETE AND SIGN AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. BY SIGNING THE FORM EACH OFFICER AGREES TO INFORM RAND IF ANY CIRCUMSTANCES CHANGE THAT WOULD MODIFY THE RESPONSES. FINALLY, ALL RAND OFFICERS AND TRUSTEES ARE ASKED TO COMPLETE AN ANNUAL RELATED PARTY QUESTIONNAIRE, SENT BY RAND'S CFO ORGANIZATION TO SUPPORT RAND'S RESPONSES TO CERTAIN QUESTIONS ON THE FORM 990. THIS QUESTIONNAIRE, WHICH IS REVIEWED BY VARIOUS LEVELS OF MANAGEMENT, SEEKS TO IDENTIFY FAMILY AND BUSINESS RELATIONSHIPS AMONGST THE TRUSTEES AND OFFICERS AND REPRESENTS ANOTHER OPPORTUNITY OTHER THAN THE ABOVE FOR POTENTIAL CONFLICTS TO BE IDENTIFIED. PER THE AUDIT COMMITTEE CHARTER, THE CORPORATE INTEGRITY PROGRAM AND CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH THE AUDIT COMMITTEE. THE CONFLICT OF INTEREST POLICY WAS FORMALLY REVIEWED AND LAST APPROVED BY THE AUDIT COMMITTEE IN OCTOBER 2013. WRITTEN WHISTLEBLOWER POLICY PART VI, SECTION B, LINE 13 RAND HAS A WHISTLEBLOWER POLICY WHICH THE AUDIT COMMITTEE REVIEWS ANNUALLY. THE AUDIT COMMITTEE LAST REVIEWED AND APPROVED THE POLICY IN OCTOBER 2013. WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY PART VI, SECTION B, LINE 14 RAND HAS A DOCUMENT RETENTION AND DISPOSITION POLICY, WHICH THE AUDIT COMMITTEE REVIEWS ANNUALLY. THE AUDIT COMMITTEE LAST REVIEWED AND APPROVED THE POLICY IN OCTOBER 2013. DETERMINATION OF COMPENSATION FOR CEO, EXEC DIRECTOR & TOP MANAGEMENT PART VI, SECTION B, LINE 15A THE COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE CONDUCTS ANNUAL PERFORMANCE REVIEWS FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND THE SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER. AS PART OF THE YEARLY EVALUATION, THE COMMITTEE REVIEWS MARKET DATA FROM SEVERAL SALARY SURVEYS AND EMPLOYS AN INDEPENDENT COMPENSATION CONSULTANT TO REVIEW FOR REASONABLENESS. THE COMMITTEE RECOMMENDS SALARY INCREASES AND DISCRETIONARY AMOUNTS OF THE VARIABLE COMPENSATION PROGRAM FOR THE UPCOMING YEAR TO THE BOARD OF TRUSTEES WHICH MAKES THE FINAL DECISION FOR THESE OFFICERS' COMPENSATION. THE COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE CONDUCTS THE REVIEW IN THE FALL AND DOCUMENTS THE REVIEW IN COMMITTEE MINUTES WHICH ARE THEN APPROVED AT THE NEXT MEETING. RAISES ARE EFFECTIVE IN FEBRUARY. DETERMINATION OF COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES PART VI, SECTION B, LINE 15B THE PRESIDENT AND CHIEF EXECUTIVE OFFICER REVIEWS THE COMPENSATION FOR OFFICERS AND OTHER RESEARCH HEADS, OTHER THAN THOSE MENTIONED IN PART VI-B, #15A. HE PUTS FORTH SALARY INCREASE SUGGESTIONS AFTER EXAMINING PERFORMANCE, SALARY SURVEYS, AND BENCHMARK STUDIES. THE SALARY INCREASES FOR KEY EMPLOYEES WITHIN THE RESEARCH GROUP ARE SUGGESTED BY THE GLOBAL RESEARCH TALENT VICE PRESIDENT. BOTH SETS OF RECOMMENDATIONS ARE GIVEN TO THE COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE, WHICH ULTIMATELY DECIDES ON THE SALARY INCREASES EACH YEAR. PUBLIC DISCLOSURE OF GOVERNING DOCUMENTS AND POLICIES PART VI, SECTION C, LINE 19 THE ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON RAND'S EXTERNAL WEBSITE: WWW.RAND.ORG. MOREOVER, THIS INFORMATION, AS WELL AS RAND'S GOVERNING DOCUMENTS AND FORM 990, IS AVAILABLE UPON REQUEST AND AT THE SANTA MONICA OFFICE. FURTHER, THIS INFORMATION HAS BEEN SUBMITTED TO SEVERAL STATES AND GOVERNMENT AGENCIES AS PART OF VARIOUS REGISTRATION PROCESSES AND IS AVAILABLE ON THOSE ORGANIZATIONS' WEBSITES. OTHER CHANGES IN NET ASSETS PART XI, LINE 5 ADJUSTMENT TO POST RETIREMENT LIABILITY $ 5,462,359 CHANGES IN FMV OF DERIVATIVES $ 9,236,496 ----------- TOTAL $14,698,855 RAND CORPORATION ENDOWMENT TRUST 400 HOWARD STREET SAN FRANCISCO CA 94105 336357131 INVESTMENTS CA 1335218 38755790 RAND CORP ROEA 1112 LLC 1776 MAIN STREET PO BOX 2138 SANTA MONICA CA 90407 951958142 REAL ESTATE CA 0 0 RAND CORP RAND Europe (UK) Westbrook Centre Milton Road Cambridge, CB4 1YG UK Policy Rsrch UK N/A N/A RAND CORP true RAND Retiree Medical Benefit Plan 1776 Main Street PO Box 2138 Santa Monica CA 90407 954496399 FUND SUPPORT CA 501(C)(9) N/A RAND CORP true RAND Europe Community Interest Company Westbrook Centre Milton Rd Cambridge, CB4 1Y UK Consultancy SRVCS UK Rand Corp C Corp 11111677 2263484 1.00000 true true false false false false false false false false false false false false false false false false true true RAND EUROPE COMMUNITY INTEREST COMPANY A-I 187605 ACCRUAL METHOD RAND RETIREE MEDICAL BENEFIT PLAN R 1750486 ACCRUAL METHOD RAND RETIREE MEDICAL BENEFIT PLAN S 1080308 ACCRUAL METHOD