Rfe-Rl INC FY2023 filing

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Rfe/rl's mission is to promote democratic values by providing accurate, uncensored news and open debate in countries where a free press is under threat. (see schedule o)

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $1.5M a year · 1% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$231.1M
102% of total assets
Concern: liabilities are 102% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$170.9M
+30% vs prior year
Spent
$168.2M
To programs
77%
Net assets
−$4.8M
By yearFY2020–FY2025
Revenue
$170.9M
FY2023▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2020$122.4M
FY2021$127.1M
FY2022$131.9M
FY2023$170.9M
FY2024$156.5M
FY2025$129.0M
Expenses
$168.2M
FY2023▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2020$125.8M
FY2021$129.9M
FY2022$132.8M
FY2023$168.2M
FY2024$157.0M
FY2025$133.1M
Net assets
−$4.8M
FY2023▲ +85%
Tap a bar for its year
Net assets by fiscal year
FY2020−$67.1M
FY2021−$42.5M
FY2022−$32.5M
FY2023−$4.8M
FY2024−$1.6M
FY2025−$3.6M

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1976.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $129.5M Management & general 23% · $38.7M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President, CEO
$308,491Pt VII · Sec A
Head of Human Resources
$185,864Pt VII · Sec A
CFO, Treasurer
$181,922Pt VII · Sec A
General Counsel & Secretary
$180,648Pt VII · Sec A
Deputy Head, Corp Security
$179,546Pt VII · Sec A
SR. News Editor
$176,190Pt VII · Sec A
Comptroller
$168,843Pt VII · Sec A
Service Director
$168,471Pt VII · Sec A

Stephen Allan Capus’s $272K as President and CEO is at the 9th percentile of top reported officer pay among 53 $100M+ arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jamie Fly—$232,284$308,491$237,271$222,259$141,702
Stephen Allan Capus$271,685—————
James Landis$227,537$207,458————
Karen Johnsen$201,746$178,063$168,843———
Nicola Careem$201,710$85,521————
Benjamin Herman$194,725$190,023$180,648$186,209$168,555$170,385
Marylin Alma Keating$178,001$174,893$185,864$193,614$188,600—
Guy Genovese$190,865$177,458$179,546$183,574$185,811$179,258

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Rfe-Rl INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Reports news in countries without a free press to promote democratic values.

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3 programs · $39.5M · in their own filed words · FY2022
01

The current time TV and digital network provides russian speakers across russia, ukraine, central asia, the caucasus, the baltics, and eastern europe with access to factual, accurate, bias-free, topical, and trustworthy information.

$20.2Mprogram expense
02

RFE/RL'S persian service, known as radio farda, offers a persian-language alternative to government-controlled media in iran, reporting on local, national, and world events. Radio farda breaks through government censorship, providing accurate news and a platform for informed discussion and debate to audiences in iran.

$12.3Mprogram expense
03

RFE/RL'S russian service, radio svoboda, is a trusted source of balanced information about political, social, civic, cultural, and human rights issues that are unreported or under-reported in russia. It also provides a forum for discussion and debate on these topics.

$7.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Sep 2025 · $128.7M federal money spent
International Broadcasting Independent Grantee OrganizationsRegional commissions · ALN 90.500 · Direct$128.6M
Aeeca/Esf Pd ProgramsDepartment of State · ALN 19.900 · Direct$73K

The auditor reported no findings.

Year ending Sep 2024 · $156.2M federal money spent
International Broadcasting Independent Grantee OrganizationsRegional commissions · ALN 90.500 · Direct$156.0M
Aeeca/Esf Pd ProgramsDepartment of State · ALN 19.900 · Direct$148K

The auditor reported no findings.

Year ending Sep 2023 · $167.8M federal money spent
International Broadcasting Independent Grantee OrganizationsRegional commissions · ALN 90.500 · Direct$167.5M
Aeeca/Esf Pd ProgramsDepartment of State · ALN 19.900 · Direct$225K

The auditor reported 4 findings: a weakness in money controls.

Year ending Sep 2022 · $131.8M federal money spent
International Broadcasting Independent Grantee OrganizationsRegional commissions · ALN 90.500 · Direct$131.7M
Aeeca/Esf Pd ProgramsDepartment of State · ALN 19.900 · Direct$113K

The auditor reported 8 findings: a weakness in money controls.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$170.9M
Ln 12
Gifts and grantsLn 1h$170.7M
Investment incomeLn 3$118K
Money outPt IX
$168.2M
Ln 25
Programscol B$129.5M
Managementcol C$38.7M
Owns and owesPt X
−$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$38.3M
Total assetsLn 16$226.2M
LiabilitiesLn 26$231.1M
PeoplePt VI, VII
17
listed · VII A
PaidVII A10
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$170.7M
Government grantsLn 1e$170.7M
Investment incomeLn 3$118K
Total revenueLn 12$170.9M
Assets in detailPt X, end of year
CashLn 1$33.2M
SavingsLn 2$5.0M
Cash and savings togetherLn 1–2$38.3M
Accounts receivableLn 4$1.1M
Prepaid expenses and deferred chargesLn 9$9.0M
Land, buildings, equipmentLn 10c$2.7M
Other assetsLn 15$175.3M
Total assetsLn 16$226.2M
LiabilitiesLn 26$231.1M
Net assetsLn 32−$4.8M
OperationsPt I, VI
EmployeesI 5177
VolunteersI 627
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$45.1M$38.3M
Land, buildings, equipmentLn 10c$523K$2.7M
Total assetsLn 16$113.9M$226.2M
LiabilitiesLn 26$146.4M$231.1M
Net assetsLn 32−$32.5M−$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.3M$186K$1.2M
Other salaries and wagesLn 7$57.8M$50.8M$7.0M
Pension plan contributionsLn 8$2.9M$2.6M$344K
Other employee benefitsLn 9$16.1M$14.0M$2.2M
Payroll taxesLn 10$8.6M$7.1M$1.5M
Legal feesLn 11b$862K$902$862K
Accounting feesLn 11c$691K$200K$490K
Other fees for servicesLn 11g$28.6M$23.2M$5.4M
Advertising and promotionLn 12$671K$148K$523K
Office expensesLn 13$2.5M$1.2M$1.3M
Information technologyLn 14$17.8M$17.5M$323K
RoyaltiesLn 15$230K$230K
OccupancyLn 16$18.3M$3.2M$15.1M
TravelLn 17$2.5M$2.1M$428K
Conferences, conventions and meetingsLn 19$95K$68K$27K
Depreciation, depletion and amortizationLn 22$6.6M$6.3M$387K
InsuranceLn 23$873K$873K
Other expenses (24a–d)Ln 24$1.6M$782K$822K
Total functional expensesLn 25$168.2M$129.5M$38.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 20, 2026 $129.0M$133.1M−$4.1M−$3.6M 990 PDF
FY2024Filed with the IRS Aug 14, 2025 $156.5M$157.0M−$442K−$1.6M 990 PDF
FY2023 ViewingFiled with the IRS Aug 14, 2024 $170.9M$168.2M$2.7M−$4.8M 990 PDF
FY2022Filed with the IRS Aug 14, 2023 $131.9M$132.8M−$908K−$32.5M 990 PDF
FY2021Filed with the IRS Aug 15, 2022 $127.1M$129.9M−$2.8M−$42.5M 990 PDF
FY2020Filed with the IRS Aug 16, 2021 $122.4M$125.8M−$3.4M−$67.1M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $170,863,642 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $131,924,794$170,745,271
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $12,701$118,371
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $131,937,495$170,863,642
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $72,388,240$86,790,263
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $60,457,048$81,396,935
I-18 Total expensesPrior year $132,845,288$168,187,198
I-19 Revenue less expensesPrior year −$907,793$2,676,444
Part VI · Governance 7 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $170,863,642 across 6 lines filed
VIII-1e Government grants$170,745,013
VIII-1f All other contributions, gifts and grants$258
VIII-1h Total contributions, gifts and grants$170,745,271
VIII-3 Investment incomeExcluded from tax $118,371$118,371
VIII-6 Net rental income or loss$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $118,371$170,863,642
Part IX · Statement of functional expenses $168,187,198 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $185,878 · Management $1,161,836$1,347,714
IX-7 Other salaries and wagesPrograms $50,792,917 · Management $7,001,547$57,794,464
IX-8 Pension plan contributionsPrograms $2,554,161 · Management $344,350$2,898,511
IX-9 Other employee benefitsPrograms $13,979,920 · Management $2,166,530$16,146,450
IX-10 Payroll taxesPrograms $7,056,430 · Management $1,546,694$8,603,124
IX-11b Legal feesPrograms $902 · Management $861,515$862,417
IX-11c Accounting feesPrograms $200,165 · Management $490,427$690,592
IX-11g Other fees for servicesPrograms $23,192,337 · Management $5,360,250$28,552,587
IX-12 Advertising and promotionPrograms $147,845 · Management $523,066$670,911
IX-13 Office expensesPrograms $1,229,632 · Management $1,274,590$2,504,222
IX-14 Information technologyPrograms $17,453,658 · Management $322,850$17,776,508
IX-15 RoyaltiesPrograms $230,008$230,008
IX-16 OccupancyPrograms $3,209,470 · Management $15,137,770$18,347,240
IX-17 TravelPrograms $2,118,335 · Management $427,716$2,546,051
IX-19 Conferences, conventions and meetingsPrograms $68,051 · Management $27,216$95,267
IX-22 Depreciation, depletion and amortizationPrograms $6,256,913 · Management $387,137$6,644,050
IX-23 InsuranceManagement $872,587$872,587
IX-24 Other expenses (24a–d)Programs $782,404 · Management $822,091$1,604,495
IX-25 Total functional expensesPrograms $129,459,026 · Management $38,728,172 · Fundraising $0$168,187,198
Part X · Balance sheet $226,230,423 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $40,132,201$33,245,274
X-2 Savings and temporary cash investmentsStart of year $4,973,718$5,019,943
X-4 Accounts receivableStart of year $1,332,735$1,068,162
X-9 Prepaid expenses and deferred chargesStart of year $7,643,222$8,958,639
X-10c Land, buildings and equipment, netStart of year $523,444$2,675,883
X-15 Other assetsStart of year $59,340,087$175,262,522
X-16 Total assetsStart of year $113,945,407$226,230,423
X-17 Accounts payable and accrued expensesStart of year $29,349,694$18,455,547
X-19 Deferred revenueStart of year $31,477,018$17,740,706
X-25 Other liabilitiesStart of year $85,619,830$194,855,741
X-26 Total liabilitiesStart of year $146,446,542$231,051,994
X-27 Net assets without donor restrictionsStart of year −$32,503,132−$7,707,571
X-28 Net assets with donor restrictionsStart of year $1,997$2,886,000
X-32 Total net assets or fund balancesStart of year −$32,501,135−$4,821,571
X-33 Total liabilities and net assetsStart of year $113,945,407$226,230,423
Part XI · Reconciliation of net assets −$4,821,571 net assets at year end
XI-1 Total revenue$170,863,642
XI-2 Total expenses$168,187,198
XI-3 Revenue less expenses$2,676,444
XI-4 Net assets at start of year−$32,501,135
XI-9 Other changes in net assets$25,003,120
XI-10 Net assets at end of year−$4,821,571

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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