2024 Annual Report
A People-Powered Resources for the Future
It comes as no surprise that this annual report will include reflections on the incredible accomplishments of the team at Resources for the Future (RFF). What may surprise you is the depth of our impact amid leadership changes, including me stepping into the role of president and CEO and Carlos Martín as our new Vice President for Research and Policy Engagement.
This annual report is dedicated to one RFF staff person in particular—Ray Kopp. This year, we mourned the passing of Ray, whose impact, legacy, and imprint on global environmental economic policy undoubtedly will outlast him.
As we look to the future of policymaking at all levels of government, please know that RFF, and this collection of amazing people, are here to partner with you. Together, we can continue to ensure that policymakers have the rigorous, nonpartisan economic analysis needed to advance a healthy environment and thriving economy—now and into the future.
Billy Pizer
President and CEO
Resources for the Future
A Trusted Partner Through Every Season
2024 was quite a year—and RFF has successfully navigated a change in leadership. Of course, every election year in the United States feels monumental, and the 2024 election was no exception. The RFF Board of Directors is focused on how political changes might affect the issues of focus at RFF in the years ahead. We remain confident that, in the midst of organizational, national, or global change, RFF will continue doing high-impact, relevant, and nonpartisan research, just as we have been doing for 72 years.
I look forward to working with the entire board, RFF’s leadership and staff, and all of you as we partner together to help answer some of the most pressing energy, environmental, and climate questions of our time, for years to come.
Susan F. Tierney
Chair, Board of Directors
Resources for the Future
Our Year in Numbers
RFF was ranked #1 for energy and environmental economics institutions globally.
RFF has a perfect, 4-star rating from Charity Navigator.
We’re a 501(c)(3) nonprofit organization with a budget of $18,000,000.
RFF hosted 30 public events, with over 8,400 attendees.
RFF experts published 80 publications on the RFF website.
RFF staff members published 113 articles on the Common Resources blog and in Resources magazine.
US and international news outlets cited RFF expertise in 825 media hits.
RFF websites generated nearly 1,500,000 pageviews.
Top RFF Products
Financial Summary
In fiscal year 2024, RFF’s operating budget was $18 million, over 76 percent of which came from grants from foundations, government, and other organizations, alongside individual and corporate contributions. RFF’s operating budget in fiscal year 2025 is $18.25 million. RFF augments its operating revenue with net income from the RFF building and earnings from the RFF reserve fund. At the end of fiscal year 2043, the reserve fund was valued at $57 million.
RFF research and policy engagement represented 74 percent of total expenses in 2024. Management, administration, and development expenses combined were 26 percent of the total.
RFF’s audited financial statements, as well as detailed breakdowns of revenues and expenses, are posted on our website annually.
Thank You!
Our community of donors helped us become the organization that we are today and are ensuring that we will be able to continue our work for years to come. We thank them for sharing in our vision and their partnership.
What’s Next in 2025?
This year, we are committed and excited to continue providing trusted research insights and policy solutions that advance a healthy environment and thriving economy, equitably support people and communities, and help solve climate change. Our 2025 research agenda includes work on:
- resilience in the face of extreme weather and natural disasters,
- medium- and heavy-duty vehicle decarbonization,
- critical minerals,
- climate-aligned international trade,
- the climate impacts of federal policies,
- climate action at the state level,
- and much more.
We’re excited for all that we can accomplish together, but we can’t do it without the help and support from donors like you. Will you join us?