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The 990 read · EIN 52-1068522 · DC · Fiscal year FY ending Sep 2025

Radio Free Europe/Radio Liberty

Rferl Inc: CEO salary, finances and where donations go

In its own words

“Rfe/rl promotes democratic values by reporting the news in countries lacking a free press.”

Data only Figures straight from the filing, screened by our rules. Not yet reviewed in depth by a CPA.

Methodology by Amir Arani, CPA, CA · Updated

Top pay
$272K Stephen Allan Capus, 0.2% of spending
Revenue
$129.0M 97.4% from donations and grants
Spent
$133.1M 76.4% on programs, as reported
Net assets
$-3.6M end of FY ending Sep 2025
Savings
-0.3 months of spending, net assets ÷ spending
People
177 employees, 27 volunteers
Form 990 (FY ending Sep 2025), Parts I, VII, IX, X
01 · Red flags

No red flags in its latest filing.

We screen every filing against twelve rules. A flag is a prompt for a closer look, not a finding of wrongdoing.

No reported asset diversions, no insider transactions, no fundraisers keeping most of the money, and the governance policies we check for are in place.

02 · Where $1 goes · FY ending Sep 2025

Of each dollar it spent, 76.4¢ went to programs, as reported.

The split the charity filed.
76.4¢
Programs, $101.7M
0.0¢
Fundraising, $0K
23.6¢
Admin, $31.4M
Form 990 (FY ending Sep 2025), Part IX, line 25
Cost to raise $1
0¢
as reported

For each dollar donated, Radio Free Europe/Radio Liberty spent 0¢ on fundraising.

Fundraising ÷ $125.7M contributions · Form 990 Parts VIII, IX
03 · What it does

What it told the IRS it spent on.

The charity's own description of its largest programs, with what each cost.

Program 1 · 27.7% of program spending $28.2M

Rfe/rl's russian-language programming offers russian speakers across russia, ukraine, central asia, the caucasus, the baltics, and eastern europe professional, trustworthy news that counters the narratives of hostile governments while promoting democracy and accountability. In a highly controlled and repressed media environment, rfe/rl offers a rare option to russians who seek something beyond state-controlled propaganda.radio svoboda, rfe/rl's russian service, and its two regional reporting projects - siberia.realities for residents in the trans-urals region and north.realities aimed at…

Program 2 · 6.6% of program spending $6.7M

Rfe/rl's ukrainian service, radio svoboda, is a trusted, award-winning outlet providing comprehensive coverage of russia's full-scale war from bureaus in kyiv, lviv, and the front lines. The service's investigative unit, schemes, acts as a critical watchdog over American aid flowing into ukraine, providing journalistic oversight that holds authorities accountable and exposes corruption. A schemes investigation uncovered corrupt practices by ukraine's deputy prosecutor general, dmytro verbytskyi, leading to an internal investigation and his resignation. According to a 2024 national survey…

Program 3 · 6.5% of program spending $6.6M

Rfe/rl's persian-language service, radio farda, bypasses the iranian regime's extreme censorship (and intermittent internet shutdowns) to deliver trusted news directly to the iranian people. Operating across multiple platforms (radio, satellite, and digital platforms), radio farda ensures iranians remain connected to the outside world. During the june 2025 iran-israel conflict, radio farda recorded over 62.5 million video views on instagram between june 13-15 as audiences sought out objective reporting. According to a 2021 usagm audience survey, radio farda reaches 10% - 6.5 million people -…

Form 990 (FY ending Sep 2025), Part III
04 · The savings

Net assets: $-93.3M to $-3.6M in 11 years.

Net assets at each fiscal year end, 2013 to 2025.

Net assets at year end, $ millions
-93
-82
-39
-66
-78
-74
-97
-67
-42
-32
-5
-4
Form 990 history via ProPublicaForm 990 (FY ending Sep 2025)
05 · Who gets paid

The 8 highest-paid people.

Reportable pay in FY ending Sep 2025, from the charity and related organizations.

Stephen Allan Capus
President and CEO
$271,685
James Landis
Head of Corporate Security
$227,537
Karen Johnsen
Acting Cfo, Asst. Treasurer, Dir. Fp&a
$201,746
Nicola Careem
Vice Pres. and Editor in Chief
$201,710
Benjamin Herman
General Counsel & Secretary
$194,725
Guy Genovese
Deputy Head, Corp Security
$190,865
Employee
Journalist
$188,830
Diane Zeleny
Vice Pres. and Head of Ext. Affairs
$188,309
Form 990 (FY ending Sep 2025), Part VII, Section A
Largest outside contractors
ContractorServicePaid
Csi Leasing Czech SroEquipment leasing$3,407,441
Mark2 Corporation Czech AsFacility security services$2,146,073
Rsm Technology CzIt contractor$762,902
Hm Gastro Group SroFacility management$737,872
Dell Bank International DacEquipment leasing$684,433
Form 990 (FY ending Sep 2025), Part VII, Section B
06 · Questions

The questions people ask about the Radio Free Europe/Radio Liberty.

Short, sourced answers. Each one stands on its own.

How much does the Radio Free Europe/Radio Liberty CEO make?

Stephen Allan Capus, President and CEO, received $271,685 in reportable compensation in FY ending Sep 2025, 0.2% of Radio Free Europe/Radio Liberty's $133.1M in spending.

Form 990 (FY ending Sep 2025), Part VII

What percentage of Radio Free Europe/Radio Liberty donations go to programs?

Radio Free Europe/Radio Liberty reported 76.4% of FY ending Sep 2025 spending as programs, 0% as fundraising and 23.6% as management.

Form 990 (FY ending Sep 2025), Part IX

How much money does Radio Free Europe/Radio Liberty have?

Net assets were $-3.6M at the end of FY ending Sep 2025, about -0.3 months of spending.

Form 990 (FY ending Sep 2025), Part X

Does Radio Free Europe/Radio Liberty have any red flags in its filing?

Its latest Form 990 triggered none of our twelve screening rules, which cover reported asset diversions, insider transactions, fundraiser costs, governance policies and spending patterns.

Form 990 (FY ending Sep 2025)
07 · Sources and citing

Every number, traced.

  1. Radio Free Europe/Radio Liberty Form 990, FY ending Sep 2025 (IRS e-file)
  2. Radio Free Europe/Radio Liberty Form 990 history (ProPublica Nonprofit Explorer)
Cite this page

Amir Arani, “Radio Free Europe/Radio Liberty: CEO salary, finances and where your dollar goes,” Charity Math, updated 2026-11-07. https://charitymath.com/charities/radio-free-europe-radio-liberty/