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Consolidated Financial Statements

These are the RAND Corporation's financial statements for the fiscal years ended September 30, 2020 and 2019.

This report is part of the RAND Corporation corporate publication series. Corporate publications are program or department brochures, newsletters, pamphlets, and miscellaneous information about the RAND Corporation or RAND's business units. Some corporate publications are published in the AR series as Annual Reports or as Administrative Reports. Administrative Reports are often required by the client or sponsor and provide a status report on work resulting from a contract.

Permission is given to duplicate this electronic document for personal use only, as long as it is unaltered and complete. Copies may not be duplicated for commercial purposes. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. For information on reprint and linking permissions, please visit the RAND Permissions page.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.

Original Text (This is the original text for your reference.)

These are the RAND Corporation's financial statements for the fiscal years ended September 30, 2020 and 2019.

This report is part of the RAND Corporation corporate publication series. Corporate publications are program or department brochures, newsletters, pamphlets, and miscellaneous information about the RAND Corporation or RAND's business units. Some corporate publications are published in the AR series as Annual Reports or as Administrative Reports. Administrative Reports are often required by the client or sponsor and provide a status report on work resulting from a contract.

Permission is given to duplicate this electronic document for personal use only, as long as it is unaltered and complete. Copies may not be duplicated for commercial purposes. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. For information on reprint and linking permissions, please visit the RAND Permissions page.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.

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