Regulatory Assistance Project

Overview

Mission

Rap is an international team of experts that educates and partners with decision-makers to develop data-informed, real-world solutions. We research and seek solutions that are not only cost-effective and reliable, but also create stronger, more equitable communities. Rap educates policymakers and helps them navigate the complex world of clean energy policy creation and negotiation. As a committed and engaged partner, we also work hard to spark the passion and commitment of the stakeholder community.

What it reported doing in 2024

India: rap fosters innovative research and provides training and technical assistance to energy regulators and decision-makers. We stimulate robust public discourse on the policies needed to meet india's climate and clean energy goals.other regions outside our core focus: we occasionally take on work outside of our four main regions in situations where we can have a lasting impact. We seek longer-term engagements in which our deep regulatory expertise will benefit policymakers or the NGO community. Our team contextualizes its international expertise to local conditions to create sustainable solutions to local challenges. We focus on best practices that consistently create sufficient revenues to ensure grid reliability, drive investment in clean resources, balance cost allocation fairly among disparate groups, send the right price signals to customers, and motivate performance consistent with public policy objectives.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
010471151
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Montpelier, VT, USA
Phone
8022238199
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Botanical, Horticultural, and Landscape Services

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 54
  • Accountability: 91
  • Sustainability: 40
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81%; rating input score 81
  • Program expense ratio: 82.9%; rating input score 83
  • Fundraising efficiency: $68.52 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.7%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 1.11; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 28.7%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 10th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 81% of revenue deployed · 82.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $8.1M in reported program spending
  • Leadership: top reported pay $294K · 25 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $395K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

25 people listed

Highest reported compensation

  • RICHARD SEDANO (CEO PARTIAL YEAR /PRINCIPAL): $294,144 total reported compensation
  • NOELLE MACKAY (COO (TO JUNE '24)): $260,235 total reported compensation
  • DAMALI HARDING (PRINCIPAL): $255,915 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.