2023 Annual Report
Last year, like many before it, Resources for the Future (RFF) delivered trusted research insights and policy solutions to advance a healthy environment and thriving economy, equitably support people and communities, and help find solutions for the problem of climate change.
Looking Ahead after a Strong Year
In this annual report, you’ll read more about RFF’s accomplishments for the year—but they are, of course, just the highlights. With more than 260 reports, journal articles, Resources magazine articles, and blog posts, along with 28 public events, these pages aren’t enough to fully capture the breadth of the work that RFF completed in 2023.
We also have begun an important transition for RFF as we look to bring on a new RFF president after my announcement that I plan to move on from the role in 2024. On behalf of all RFF staff, I offer sincere thanks to our partners and supporters who have helped ensure that RFF is in a strong position during this transition, into the future, and for years to come.
All my best,
Richard G. Newell
President and CEO
Resources for the Future
Advancing RFF’s Mission
RFF’s annual report not only reflects on the accomplishments of the past year, but also takes stock of what a passionate and dedicated group of people can do when they come together. As chair of the RFF Board of Directors, I have seen the organization evolve, grow, and thrive in 2023, ensuring that industry, government, philanthropic, and community leaders have the rigorous analyses needed to make sound environmental and economic decisions.
I would be remiss in my reflections about RFF in 2023 if I did not mention Richard Newell’s impact on RFF. Under his distinguished leadership, RFF has matured into a modern think tank that exemplifies commitment, progress, and excellence. As the RFF Board of Directors works to identify the next leader of RFF in 2024, we are looking forward to building on the successes of 2023 and leading RFF into an even brighter future.
Looking forward to what’s ahead,
Susan F. Tierney
Chair, Board of Directors
Resources for the Future
Our Year in Numbers
RFF was ranked #1 for energy and environmental economics globally.
RFF has a top, 4-star rating from Charity Navigator.
We’re a 501(c)(3) nonprofit organization with a budget of $17,500,000.
RFF hosted 75 events, with over 10,900 attendees at our 28 public events alone.
RFF experts published 108 publications on the RFF website.
RFF is home to 152 staff and affiliated scholars.
RFF expertise was cited in more than 1,100 US and international news hits.
RFF websites generated nearly 1,500,000 pageviews.
2023 Stories of Impact
Heavy-Duty Research in Transportation
Energy Transitions in Energy Communities
Hydrogen for Industrial Decarbonization
Using Research-Based Tools to Get from Risk to Resilience
Plugging Into the Policy Discussion
Innovation and Accountability
Centering Equity and Justice
Getting a Lay of the Land with Climate Change on the Horizon
Putting a Number on the Carbon Impact of Legislation
International Climate Policy and Global Trade
A Year of Events
Read the Full Annual Report!
Financial Summary
In fiscal year 2023, RFF’s operating budget was $17.5 million, over 79 percent of which came from grants from foundations, government, and other organizations, alongside individual and corporate contributions. RFF’s operating budget in fiscal year 2024 is $18 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 2023, the reserve fund was valued at $54 million.
RFF research and policy engagement represented 77 percent of total expenses in 2023. Management, administration, and development expenses combined were 23 percent of the total.
RFF’s audited financial statements, as well as detailed breakdowns of revenues and expenses, are posted on our website annually.
*The investments category includes investment earnings designated for operations.
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 2024?
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 2024 research agenda includes work on:
- resilience in the face of extreme weather,
- medium- and heavy-duty vehicle decarbonization,
- environmental justice and the socioeconomic impacts of climate change, especially on under-resourced communities,
- climate-aligned international trade,
- low-carbon industrial technologies,
- the climate impacts of federal policies,
- 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?