2026-08-05T13:23:29-05:00 2025-09-30 582487348 Aprio Advisory Group LLC 111 Rockville Pike Suite 600 Rockville MD 20850 990 2024-10-01 530220900 Resources for the Future Inc RESO 2023285000 1616 P Street NW Washington DC 20036 William Pizer President & CEO 2023285000 2026-07-30 1 1 Stacy Cullen P00974308 3012316200 2026-07-30 2024 2025-03-06 01:10:19Z William Pizer 1616 P Street NW Washington DC 20036 20973718 0 X www.rff.org X 1952 DC To improve environmental, energy, and natural resource decisions through impartial economic research and policy engagement. 23 23 97 22 0 0 14454636 10323948 0 0 2686248 5858483 -265669 -633463 16875215 15548968 162000 1052887 0 0 12740003 12977709 0 0 1380599 5174581 4805943 18076584 18836539 -1201369 -3287571 85903959 81143391 23688162 22960358 62215797 58183033 RFF's mission is to improve environmental, energy, and natural resource decisions through impartial economic research and policy engagement. 0 0 7366088 1027913 Confronting risks and building resilience: RFF evaluates the physical and economic impacts of energy and environmental policies, using data to assess risks and uncertainties at global, national, sectoral, and local scales, to ensure that global decision makers are equipped with the information they need to build resilience in their communities. 5133397 24975 Designing smart emissions reduction strategies: RFF analyzes policies to determine how they can be effective, efficient, equitable, beneficial to the economy, and able to achieve net-zero emissions goals from economy-wide solutions that send consistent economic signals to the marketplace to sector-specific strategies for all major areas of the economy. 1516546 Communications: dissemination of research results in the form of research publications, resources magazine, resources radio, the RFF website, video, and other methods. Communications activities advance RFF's reputation for independent research and nonpartisanship while informing and shaping public debate. Research publications disseminated include working papers, reports, issue briefs, data tools, and research findings in peer-reviewed journals. 14016031 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 68 0 1 97 1 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NJ NY DC X X Jessica Roper 2023285000 1616 P Street NW Washington DC 20036 Susan F Tierney Chair of the Board 1.00 X 0 0 0 Robert N Stavins Vice Chair of the Board 1.00 X 0 0 0 Vicky A Bailey Board Director 1.00 X 0 0 0 Jay Bartlett Board Director 1.00 X 0 0 0 Janet Clark Board Director 1.00 X 0 0 0 James Connaughton Board Director 1.00 X 0 0 0 H Russell Frisby Board Director 1.00 X 0 0 0 Jonathan Garfinkel Board Director 1.00 X 0 0 0 Paula Glover Board Director 1.00 X 0 0 0 Glenn Hubbard Board Director 1.00 X 0 0 0 Barbara Kates-Garnick Board Director 1.00 X 0 0 0 Jeff Luse Board Director 1.00 X 0 0 0 Mary Landrieu Board Director 1.00 X 0 0 0 William Pate Board Director 1.00 X 0 0 0 Hilda Pinnix-Ragland Board Director 1.00 X 0 0 0 Jonathan Silver Board Director 1.00 X 0 0 0 Christopher Smith Board Director 1.00 X 0 0 0 Ramya Swaminathan Board Director 1.00 X 0 0 0 Laura Taylor Board Director 1.00 X 0 0 0 Catherine Wolfram Board Director 1.00 X 0 0 0 Kyung-Ah Park Chair, Audit and Compliance Committee(Oct-May) 1.00 X 0 0 0 Peter Kagan Chair, Investment Committee 1.00 X 0 0 0 Richard Schmalensee Chair Emeriti 1.00 X 0 0 0 James Boyd Associate VP, Research and Policy Engagement 35.00 X 321542 0 49173 William Pizer President and CEO 35.00 X 486790 0 86856 Carolyn Mollen VP, Finance & Administration 35.00 X 324459 0 52904 Kristina Gawrgy VP, Communications 35.00 X 245063 0 41846 Shannon Wulf Tregar VP, Development and Institutional Strategy 35.00 X 271512 0 50058 Thomas Wrenn Chief of Staff 35.00 X 187362 0 24545 Carlos Martin VP, Research and Policy Engagement 35.00 X 194949 0 29482 Alan Krupnick Senior Fellow 35.00 X 307851 0 61570 Karen Palmer Senior Fellow 35.00 X 283497 0 64808 Margaret Walls Senior Fellow 35.00 X 265310 0 44489 Kevin Rennert Fellow 35.00 X 227387 0 38800 Marc Hafstead Fellow 35.00 X 199860 0 38086 3315582 0 582617 42 0 1 0 Vault Consulting LLC 8401 Greensboro Dr Ste 500 McLean VA 22102 Accounting & HR Services 679005 National Opinion Research Center (NORC) 55 East Monroe Street 20th Floor Chicago IL 60603 Survey & Data Services 336708 Marcum LLP 1899 L Street NW Suite 850 Washington DC 20036 Audit Services 112320 4 1290928 9033020 312813 10323948 924063 924063 1067270 1700733 -633463 -633463 -633463 8658437 3724017 4934420 4934420 4934420 15548968 0 0 5225020 705644 705644 347243 347243 1967908 1303978 388212 275718 7908927 6511277 716906 680744 1010999 555555 383109 72335 1447711 820658 520762 106291 642164 363951 226156 52057 94296 14392 79739 165 73273 27673 45600 747195 276057 471138 182757 182757 123761 87791 24172 11798 632746 511747 75668 45331 410065 289749 84191 36125 775006 701374 73632 126220 98536 22521 5163 319280 234603 64433 20244 117596 81089 36507 143071 95381 47690 Consultants 649969 578625 70348 996 Subcontracts 410674 410674 Other Expenses 34 34 18836539 14016031 3439909 1380599 369893 695469 3855118 3958180 15700 47141 187933 195442 29429277 9903768 19864833 19525509 53911813 50595067 4502929 4800780 3195740 1325803 85903959 81143391 2531996 2458879 254449 127397 20529945 19994477 371772 379605 23688162 22960358 X 47497289 42326953 14718508 15856080 62215797 58183033 85903959 81143391 X -3287571 -553698 -191495 X X 0 1 X 1 1 1 X 12769728 10356120 13753644 14454636 10323948 61658076 12769728 10356120 13753644 14454636 10323948 61658076 5741071 55917005 2444661 2318602 2078619 2249615 1991333 11082830 72740906 0.76870 0.76030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 19000 81373 1 1 8401034 738298 325010 8814322 7506508 1219536 325010 8401034 7142759 688759 325010 7506508 8224796 -757027 325010 7142759 7469441 1080365 325010 8224796 0.00000 0.77000 0.23000 0 0 12981367 12981367 13127497 6803725 6323772 1502198 1491336 10862 1818215 1608707 209508 19525509 Fixed income corporate and governmental 4752176 F Private placement 48604 F 4800780 Liabilities under split-interest agreements 303223 Funds held for others 76382 379605 X 16321751 -553698 1509238 955540 15366211 182757 182757 15548968 20354515 1700733 1700733 18653782 182757 182757 18836539 Part V, Line 4: Endowment funds are used to support various activities and projects as designated by the Board of Directors and applicable laws and are subject to donor intent. Part X, Line 2: RFF evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of September 30, 2024 and 2023, there are no accruals for uncertain tax positions. If applicable, RFF records interest and penalties as a component of income tax expense. Tax years from 2021 through the current year remain open for examination by tax authorities. Part XI, Line 2d - Other Adjustments: Unrealized loss on interest rate swap -191,495. 1616 P Street operations and maintenance 1,700,733. Part XII, Line 2d - Other Adjustments: 1616 P Street operations and maintenance 1,700,733. Form 990, Schedule D, Part V: The Organization discovered an inadvertent error in the reporting of its endowment activities from prior years. The Organization has changed the prior year presentation of the endowment fund information so that it correlates with audited financial statement presentation. 0 Europe (including Iceland & Greenland) 0 1 Grantmaking Three topics critical to combat the risks posed by climate change. 1) Transparency under the Paris Agreement, since the implementation of the transparency mechanism will play an important role in future rounds of emission mitigation pledges. 2) The concern that some countries may take less ambitious mitigation efforts than others -and especially those that are economically important peers and trading partners -motivates the research, international trade and competitiveness. If countries fear that ambitious mitigation policies may impose costs on their domestic manufacturing industries, then they may may impose costs on their domestic manufacturing industries then they may be less likely to ramp up the ambition under the Paris Framework. 3) The failure to deliver sufficient emission mitigation to prevent warming consistent with the goals called for in the Paris Agreement then calls in to question the potential implementation of geoengineering interventions. 270000 Canada 0 1 Grantmaking Three topics critical to combat the risks posed by climate change. 1) Transparency under the Paris Agreement, since the implementation of the transparency mechanism will play an important role in future rounds of emission mitigation pledges. 2) The concern that some countries may take less ambitious mitigation efforts than others -and especially those that are economically important peers and trading partners -motivates the research, international trade and competitiveness. If countries fear that ambitious mitigation policies may impose costs on their domestic manufacturing industries, then they may may impose costs on their domestic manufacturing industries then they may be less likely to ramp up the ambition under the Paris Framework. 3) The failure to deliver sufficient emission mitigation to prevent warming consistent with the goals called for in the Paris Agreement then calls in to question the potential implementation of geoengineering interventions. 46900 UK 0 1 Grantmaking Three topics critical to combat the risks posed by climate change. 1) Transparency under the Paris Agreement, since the implementation of the transparency mechanism will play an important role in future rounds of emission mitigation pledges. 2) The concern that some countries may take less ambitious mitigation efforts than others -and especially those that are economically important peers and trading partners -motivates the research, international trade and competitiveness. If countries fear that ambitious mitigation policies may impose costs on their domestic manufacturing industries, then they may may impose costs on their domestic manufacturing industries then they may be less likely to ramp up the ambition under the Paris Framework. 3) The failure to deliver sufficient emission mitigation to prevent warming consistent with the goals called for in the Paris Agreement then calls in to question the potential implementation of geoengineering interventions. 30343 0 3 0 0 0 3 347243 0 347243 Europe (including Iceland & Greenland) Research on regional solar radiation management interventions 125000 Wire 0 Europe (including Iceland & Greenland) Research & collaboration on issues related to managing competitiveness risks on the path to net-zero emissions. 55000 Wire 0 Europe (including Iceland & Greenland) Research on climate, trade, and industry under increasing geopolitical fragmentation 30000 Wire 0 Europe (including Iceland & Greenland) Research to enhance knowledge of the policies under consideration to mitigate the competitive risks countries face as they move towards net-zero economies. 60000 Wire 0 Canada Research related to cleaning up the legacy of oil and gas on native land: insights from Canada 46900 ACH 0 UK Research to support methodological improvements in the ers cost of foodborne illness data 30343 ACH 0 0 0 0 0 0 0 1 Arizona State University PO Box 876011 Tempe AZ 85287 860196696 501(c)(3) 49960 0 Subaward California Institute of Technology 200 E California Blvd Pasadena CA 91125 951643307 501(c)(3) 24975 0 Subaward California State University Bakerfield Foundation 9001 Stockdale Hwy 19aw Bakersfield CA 93311 952643086 501(c)(3) 19960 0 Subaward Colorado School of Mines PO Box 735377 Dallas TX 75373 846000661 State of Colorado 12500 0 Subaward Harvard University PO Box 415649 Boston MA 02241 042103580 501(c)(3) 100000 0 Subaward Montana State University 328 Montana Hall PO Box 172470 Bozeman MT 59717 816010045 State of Montana 25000 0 Subaward Swaniti Initiative 1109 Marconi Street A Houston TX 77019 453964226 501(c)(3) 50000 0 Subaward The Regents of the University of California Santa Barbara SAASB Building Room 1212 Santa Barbara CA 93106 956006145 501(c)(3) 49891 0 Subaward The University of Oklahoma 201 Stephenson Parkway Suite 3100 Norman OK 73019 731377584 State of Oklahoma 42443 0 Subaward The University of Tennessee 2240 Sutherland Avenue Knoxville TN 37919 626001636 State of Tennessee 10466 0 Subaward Trustees of The U of Pennsylvania PO Box 785541 Philadelphia PA 19178 231352685 501(c)(3) 28750 0 Subaward University of Kentucky Research Foundation 337 Peterson Service Building Lexington KY 40506 616033693 501(c)(3) 30706 0 Subaward University of Pittsburgh PO Box 640458 Pittsburgh PA 15264 250965591 501(c)(3) 50000 0 Subaward University of Wyoming 1000 E University Ave Dept 4330 Laramie WY 82071 836000331 State of Wyoming 99243 0 Subaward Urban Institute 500 Lenfant Plaza Southwest Washington DC 20024 520880375 501(c)(3) 49250 0 Subaward WVU Foundation Inc One Waterfront Plaza 7th Floor Morgantown WV 26507 556017181 501(c)(3) 50000 0 Subaward WVU Research Corporation PO Box 6002 Morgantown WV 26506 550665758 501(c)(3) 12500 0 Subaward 17 5 Part I, Line 2: RFF maintains records to substantiate the grants, grantee eligibility, and selection criteria. The monitoring process requires grantees to provide details of expenses incurred during the grant term. Additionally, records are reviewed by staff and management to ensure that only permissible activity is paid for under grant terms. X X X X 0 0 0 0 0 0 0 1 0 William Pizer President and CEO 471790 0 15000 0 0 0 75275 0 11581 0 573646 0 0 0 Carolyn Mollen VP, Finance & Administration 275487 0 15000 0 33972 0 41323 0 11581 0 377363 0 0 0 James Boyd Associate VP, Research and Policy En 296542 0 25000 0 0 0 45093 0 4080 0 370715 0 0 0 Alan Krupnick Senior Fellow 307851 0 0 0 0 0 61570 0 0 0 369421 0 0 0 Karen Palmer Senior Fellow 283497 0 0 0 0 0 56699 0 8108 0 348304 0 0 0 Shannon Wulf Tregar VP, Development and Institutional St 256512 0 15000 0 0 0 38477 0 11581 0 321570 0 0 0 Margaret Walls Senior Fellow 265310 0 0 0 0 0 40409 0 4080 0 309799 0 0 0 Kristina Gawrgy VP, Communications 230063 0 15000 0 0 0 34509 0 7336 0 286908 0 0 0 Kevin Rennert Fellow 227387 0 0 0 0 0 34720 0 4080 0 266187 0 0 0 Marc Hafstead Fellow 199860 0 0 0 0 0 29979 0 8107 0 237946 0 0 0 Carlos Martin VP, Research and Policy Engagement 194949 0 0 0 0 0 21375 0 8107 0 224431 0 0 0 Thomas Wrenn Chief of Staff 164362 0 23000 0 0 0 16436 0 8108 0 211906 0 0 0 Part I, Line 7 The organization provided its officers with bonus compensation during the year. X 3 304113 FMV 0 0 0 0 Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Vice President of People & Operations and the President & CEO, and made available to the entire board prior to the submission to the IRS. Form 990, Part VI, Section B, line 12c Annually, the board of directors is required to complete a conflict-of-interest disclosure form. Form 990, Part VI, Section B, line 15 RFF officer compensation will be set annually as follows: (a) the board decides the president's compensation, based on a recommendation from the executive committee; (b) the executive committee decides all other officers' compensation, based on a recommendation from the president. The intermediate sanctions rules require that all property transfers be at fair market value. Per IRS regulations, compensation is presumed a property transfer and is presumed to be at FMV if:(1) the compensation agreement or terms of the transfer are approved in advance, by an authorized body of the exempt organization, composed entirely of individuals without a conflict of interest; (2) the board or committee obtained and relied upon appropriate data as to comparability in making its determination; and (3) the board or committee adequately documented the basis for its determination, concurrently with making the decision. Referring the three criteria above in the RFF context: (1) salary agreements are approved in advance by the board or the executive committee and no interested parties are involved in setting them. (2) we subscribe to a number of surveys that look at nonprofit organizations and research organizations in Washington and nationwide. They provide good information and can be relied on to judge comparability. Periodically RFF will engage a compensation consultant to conduct an independent analysis. (3) we prepare minutes of all executive committee meetings which reflect salary decisions. Materials used by the committee to determine comparability goes into the personnel files for the individuals involved. Form 990, Part VI, Section C, line 19 RFF makes its governing documents available to the public upon request. RFF's financial statements and tax returns are posted on other non-profit websites that collect and post non-profit information. Form 990, Part XI, line 9: Unrealized loss on interest rate swap -191,495. Form 990, Part XII, Line 2C The organization has not changed any processes from the prior year.