2011-02-14T14:14:37-06:00 2010-09-26 ERNST & YOUNG US LLP 18111 VON KARMAN AVENUE SUITE 1000 IRVINE CA 92612 990 2009-09-28 951958142 RAND Corporation RAND 3103930411 1776 MAIN STREET PO BOX 2138 SANTA MONICA CA 904072138 Richard Fallon 2011-02-11 9497942300 2009 2016-02-24 21:20:13Z James Thomson Same as C above SANTA MONICA CA 90401 289869207 false X WWW.RAND.ORG X 1948 CA Help Improve Policy and Decision Making Through Research and Analysis. 21 19 2051 11 -257116 0 231780065 244912391 10159813 10335040 6581260 4715061 1663384 1943608 250184522 261906100 310564 260643 0 0 171239126 177857180 0 0 3477120 78779909 84637310 250329599 262755133 -145077 -849033 383344958 394761856 211239407 215267071 172105551 179494785 Help Improve Policy and Decision Making Through Research and Analysis. false false 192951975 260643 10335040 Public Policy Research All in the Furtherance of our charter "to further and promote scientific, educational, and charitable purposes all for the public welfare and 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The reclassifications were made for current and prior year financial statement reporting purposes. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 13836 13836 262741297 262755133 1000000 250000 false 1000000 1000000 1000000 1000000 4000000 6000000 80000 80000 21382 13836 195218 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 true 7700679 2529822 1083650 9146851 false 174515558 257842 18084099 0 7947522 0 184909977 183751804 740714 293285 0 10270245 0 174515558 0.70820 0.23300 0.05880 false false 1334060 1334060 109754760 16428393 93326367 15520818 9008600 6512218 54322665 37632196 16690469 4188888 4188888 122052002 ALTERNATIVE INVESTMENTS 48629642 F 48629642 0 ACCRUED POST RETIREMENT BENEFIT 17030969 17030969 261906100 262755133 -849033 13463632 -5158599 8305033 7456000 282920000 13463632 75370 9785948 23324950 259595050 2311050 2311050 261906100 275464000 75370 14944547 15019917 260444083 2311050 2311050 262755133 TRUST ESCROW AND CUSTODIAL ARRANGEMENTS 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 PART V, LINE 4 RAND'S ENDOWMENT CONSISTS OF APPROXIMATELY 30 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. Part XI, Line 8 Rand Europe Net Income: $ 66,012 Change in FMV of derivatives: ($4,865,656) Adj. to Post Retirement Benefit Liab: ($ 359,709) Rounding: $ 754 ------------ Total: ($5,158,599) Part XII, Line 2d Rand Europe Revenue: $9,785,948 ------------ Total: $9,785,948 Part XII, Line 4b Sublease Revenue: $1,943,071 RAND Store Net Income: $ 537 Interest Income Gross-up: $ 113,306 LTIF Income Gross-up: $ 255,124 Rounding: ($ 988) ------------ Total: $2,311,050 Part XIII, Line 2d Rand Europe Expense: $9,719,936 Change in FMV of Derivatives: $4,865,656 Adj. to Post Retirement Benefit Liab: $ 359,709 Rounding ($ 754) ------------ Total: $14,944,547 Part XIII, Line 4b Sublease Revenue: $1,943,071 RAND Store Net Income: $ 537 Interest Income Gross-up: $ 113,306 LTIF Income Gross-up: $ 255,124 Rounding: ($ 988) ------------ Total: $2,311,050 Middle East and North Africa 1 6 Program Services Public Policy Research 7822737 Russia and the Newly Independent States 0 0 Program Services Public Policy Research 146795 North America 1 2 Program Services Public Policy Research 994128 Europe (Including Iceland and Greenland) 0 0 Program Services Public Policy Research 411372 2 8 9375032 true FELLOWSHIP GRANTS 11 260643 Form 990, Schedule I, PART IV Description of Organization's Procedures for Monitoring the Use of Grants TO ENHANCE ITS RESEARCH AGENDA AND PROVIDE VALUABLE TRAINING IN POLICY ANALYSIS, RAND 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 COMPETITIVE APPLICATION PROCESS DETERMINES THE FELLOWSHIP RECIPIENT. FELLOWSHIP FUNDS ARE SEGREGATED AND MANAGEMENT ACTIVELY MONITORS SPENDING TO ENSURE ANY AND ALL REQUIREMENTS ARE MET. X X X true true X X X X false true false false false false false true false JAMES A THOMSON 466803 0 85171 0 40733 0 121999 0 19185 0 733891 0 0 0 MICHAEL D RICH 343683 0 48941 0 12546 0 66389 0 23536 0 495095 0 0 0 RICHARD FALLON 253628 0 47395 0 2721 0 28958 0 27606 0 360308 0 0 0 VIVIAN J ARTERBERY 163486 0 9232 0 2043 0 19265 0 17400 0 211426 0 0 0 ROBERT H BROOK 151376 0 40100 0 4953 0 22858 0 25216 0 244503 0 0 0 EUGENE C GRITTON 238323 0 18664 0 4767 0 28958 0 26117 0 316829 0 0 0 ANDREW HOEHN 231523 0 30902 0 1387 0 28958 0 17112 0 309882 0 0 0 WILLIAM P HORRIGAN 221849 0 15250 0 2784 0 28440 0 21904 0 290227 0 0 0 JEFFREY A ISAACSON 69099 0 39998 0 391 0 28786 0 19994 0 158268 0 0 0 DEBRA S KNOPMAN 199128 0 11675 0 1289 0 24561 0 24030 0 260683 0 0 0 LINDSEY C KOZBERG 235883 0 15505 0 310 0 24058 0 8430 0 284186 0 0 0 ADELE R PALMER 216125 0 26374 0 0 0 28748 0 9925 0 281172 0 0 0 JACK RILEY 172954 0 16195 0 360 0 19948 0 6351 0 215808 0 0 0 JONATHAN GRANT 0 181864 0 35558 0 0 0 14549 0 680 0 232651 0 0 SUSAN LYNN MARQUIS 218400 0 94826 0 6473 0 28958 0 20784 0 369441 0 0 0 RICHARD E DARILEK 200402 0 21460 0 171269 0 26797 0 20974 0 440902 0 0 0 OBAIDULLAH YOUNOSSI 157356 0 0 0 197965 0 17348 0 21174 0 393843 0 0 0 BRUCE NARDULLI 144933 0 21994 0 177415 0 18564 0 15124 0 378030 0 0 0 ARIE KAPTEYN 273639 0 26927 0 17917 0 28958 0 9173 0 356614 0 0 0 ELIZABETH A MCGLYNN 230701 0 84022 0 2672 0 28958 0 16440 0 362793 0 0 0 BRENT D BRADLEY 177275 0 11366 0 3649 0 21753 0 12086 0 226129 0 0 0 NATALIE W CRAWFORD 201784 0 0 0 5197 0 23635 0 20507 0 251123 0 0 0 DAVID C GOMPERT 114823 0 0 0 3373 0 11185 0 1189 0 130570 0 0 0 THOMAS L MCNAUGHER 198872 0 0 0 2813 0 23104 0 16874 0 241663 0 0 0 JAMES T QUINLIVAN 112970 0 2500 0 2772 0 11632 0 21103 0 150977 0 0 0 CHARLES WOLF 167870 0 0 0 13148 0 20000 0 15061 0 216079 0 0 0 Supplemental Compensation Information Schedule J, Part I, Line 1a RAND PROVIDES ADDITIONAL BENEFITS TO EMPLOYEES IN CONSIDERATION OF CERTAIN INTERNATIONAL ASSIGNMENTS. 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 4B JAMES THOMSON (CEO) AND MICHAEL RICH (EVP) PARTICIPATE IN A 457(F) PLAN. Payments FROM THE PLAN INCLUDED IN SCHEDULE J WERE $32,798 FOR THE CEO AND $7,821 FOR THE EVP. THE ORGANIZATION'S NONQUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS FOR THE CEO AND EVP. THE PLAN PROVIDES AN UNFUNDED BENEFIT DETERMINED BY A FORMULA DRIVEN BY THE EXECUTIVES' 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) 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 REMINDER AMOUNTS ARE PAID DIRECTLY TO THE EXECUTIVES AND WILL BE INCLUDED AS PART OF THEIR W-2 EARNINGS UNDER SECTION 457(F). 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 WERE ACHIEVED, INCLUDING CORPORATE FINANCIAL AND STRATEGIC ACHIEVEMENTS AS WELL AS INDIVIDUAL GOALS. THE CEO, EVP, CFO, UNIT AND DEPARTMENT HEADS, AND OTHERS PARTICIPATE IN THE PROGRAM. AN ANNUAL REVIEW PROCESS, INCLUDING REVIEW BY THE EXECUTIVE COMMITTEE OR COMPENSATION COMMITTEE, HELPS ENSURE THAT GOAL MEASUREMENT IS VALIDATED AND PAYOUTS ARE IN ACCORDANCE WITH THE PROGRAM. SCHEDULE J, PART II, COLUMN B(iii) Richard Darilek, Obaidullah Younossi, and Bruce Nardulli had expatriate agreements during FY10. Benefits from such agreements are taxable and conveyed as other reportable compensation. SCHEDULE J, PART II. COLUMN C THE CEO HAS THE RIGHT TO RECEIVE A SEVERANCE PAYMENT, DETERMINED BY A PRE-SET FORMULA, UPON HIS TERMINATION OF EMPLOYMENT AT RAND IF HIS ENTITLEMENT TO THE SEVERANCE PAYMENT HAS NOT BEEN AMENDED OR TERMINATED BY THE COMPENSATION COMMITTEE OF THE RAND BOARD OF TRUSTEES (WHICH THE COMMITTEE MAY DO IN ITS SOLE DISCRETION) AND IF AT THE TIME OF TERMINATION THE COMPENSATION COMMITTEE DETERMINES THAT THE CEO IS IN GOOD STANDING. THE TOTAL AMOUNT OF THE CEO'S SEVERANCE PAYMENT IF HE HAD SO TERMINATED EMPLOYMENT AT RAND AT THE END OF CALENDAR YEAR 2009 WOULD HAVE BEEN $612,972 COMPARED TO $580,084 IF HE HAD SO TERMINATED AT THE END OF CALENDAR YEAR 2008, AN INCREASE OF $32,887 IN THE AMOUNT SET OUT ABOVE, AND INCLUDED AS REPORTABLE DEFERRED COMPENSATION ON SCHEDULE J. CA Infrastructure & Economic Development Bank 630304653 13033WK51 2008-05-13 34975000 SEE SCHEDULE O false false CA Infrastructure & Economic Development Bank 630304653 13033WK69 2008-06-02 93565000 SEE SCHEDULE O false false 34975000 0 0 0 0 0 0 2004 true false true true 96565000 0 0 0 1035000 0 0 2004 true false true true false true true DEUTSCHE BANK 34.5 false false false false true true Barclays 34.7 false false false Dr Susan Rice Spouse of RAND Trustee 169500 CONSULTING FEES false SUPPLEMENTAL INFORMATION 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, question 4A. ORGANIZATION'S GOVERNING BODY PROCEDURES FOR FORM 990 REVIEW PART VI, SECTION B, LINE 11a 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. ONCE FINALIZED, THE FORM 990 ALONG WITH THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS ARE THOROUGHLY REVIEWED BY THE AUDIT COMMITTEE 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 12C NEW STAFF MEMBERS RECEIVE A BOOKLET CONTAINING INSTITUTIONAL PRINCIPLES, CONFLICT OF INTEREST, QUALITY ASSURANCE AND OTHER ESSENTIAL POLICIES. CONFLICT OF INTEREST, CORPORATE INTEGRITY, INSTITUTIONAL PRINCIPLES AND ETHICS POLICIES ARE POSTED PROMINENTLY ON RAND'S INTRANET. CEO VIDEO ON INSTITUTIONAL PRINCIPLES AND EXECUTIVE VICE PRESIDENT VIDEO ON CONFLICT OF INTEREST ARE POSTED ON THE INTRANET AND ARE REQUIRED VIEWING ON A PERIODIC BASIS FOR ALL RAND STAFF. PERSPECTIVE 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 CHIEF FINANCIAL OFFICER 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 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. DETERMINATION OF COMPENSATION FOR CEO, EXEC DIRECTOR & TOP MANAGEMENT PART VI, SECTION B, LINE 15A THE EXECUTIVE COMPENSATION COMMITTEE CONDUCTS ANNUAL PERFORMANCE REVIEWS FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE EXECUTIVE VICE PRESIDENT, AND THE 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. AS PART OF THIS ANNUAL REVIEW PROCESS THE COMMITTEE RECOMMENDS SALARY INCREASES AND DISCRETIONARY AMOUNTS OF THE VARIABLE COMPENSATION PROGRAM FOR THE UPCOMING YEAR TO THE BOARD OF TRUSTEES WHO MAKES THE FINAL DECISION FOR THESE OFFICERS' COMPENSATION. THE EXECUTIVE COMPENSATION 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 OFFICER AND KEY EMPLOYEES PART VI, SECTION B, LINE 15B THE PRESIDENT AND CHIEF EXECUTIVE OFFICER REVIEWS THE COMPENSATION FOR OFFICERS AND UNIT AND DEPARTMENT 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 RESEARCH MANAGEMENT GROUP MANAGER. BOTH SETS OF RECOMMENDATIONS ARE GIVEN TO THE EXECUTIVE COMPENSATION COMMITTEE, WHICH ULTIMATELY DECIDES ON THE SALARY INCREASES EACH YEAR. ANY OFFICER OR KEY EMPLOYEE DISCRETIONARY AMOUNTS ARE DETERMINED BY THE CEO AND PRESIDENT WITH THE AID OF THE EXECUTIVE VICE PRESIDENT. THE EXECUTIVE COMPENSATION COMMITTEE REVIEWS THE PAYOUTS OF SUCH BONUSES FOR REASONABLENESS. PUBLIC DISCLOSURE OF GOVERNING DOCUMENTS AND POLICIES PART VI, SECTION C, LINE 19 THE ANNUAL REPORT, WHICH CONTAINS RAND'S FINANCIAL STATEMENTS AND INSTITUTIONAL PRINCIPLES, IS 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. Average Hours Devoted To Related Organization Part VII, Section A, Column B JONATHAN GRANT, RAND EUROPE PRESIDENT, IS PAID FROM THE RELATED ORGANIZATION AND HAS ONE HOUR ALLOCATED AS AN OFFICER OF THE RAND CORPORATION. HIS AVERAGE HOURS FOR HIS DUTIES AS RAND EUROPE PRESIDENT ARE 40 PLUS. PURPOSE OF Bond Issues SCHEDULE K, Part I, Line A, Column (F) Series 2008A Bonds Refunded Series 2007 Bonds; Series 2007 Bonds Refunded Series 2002A Bonds. PURPOSE OF Bond Issues SCHEDULE K, Part I, Line B, Column (F) Series 2008B Bonds Refunded Series 2002B Bonds. Transactions with Related Organizations Schedule R, Part V, Line 2 Amounts Reported on Part V, Line 2 were determined using the accrual method of accounting. RAND Europe (UK) Westbrook Centre Milton Road Cambridge, CB4 1YG UK Policy Rsrch UK N/A N/A NA RAND Retiree Medical Benefits Plan 1776 Main Street PO Box 2138 Santa Monica CA 90407 954496399 FUND SUPPORT CA 501(c)(9) N/A NA Rand Europe Cambridge Limited I McEwan Westbrook Centre Milton Rd Cambridge, CB4 1YG UK Consultancy Srvcs UK NA C Corp true false false true false false false false false false false false false false false false true true RAND Europe A-i 83130 RAND EUROPE D 411372 Rand Retirement Medical Benefit Plan R 1083650 Rand Retirement Medical Benefit Plan Q 1833155