Association of American Railroads
The Association of American Railroads (AAR) is a 501(c)(6) business league organization headquartered in Washington, DC. Established in 1934 and granted tax-exempt status in May 1992, AAR operates as a trade association representing the major freight railroads in the United States, Canada, and Mexico, as well as Amtrak. The organization manages operations across a private 140,000-mile network spanning North America and serves as the standard-setting organization for the continent's railroads.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$52.3M
+7.3% YoY
Annual Giving
$1.8M
+12.0% YoY
Grant Count
13
+18.2% YoY
Avg Grant Size
$142K
-5.2% YoY
Mission & Focus Areas
AAR's mission is to promote a safe and efficient North American rail system while working with elected officials and leaders in Washington, DC on critical rail transportation issues to ensure that railroads meet America's transportation needs today and in the future.
The organization's principal activities include:
Strategic Research Initiatives (SRI): Research focused on making rail transportation safer, more efficient, and more reliable. Current projects address signals, train control, automated operations, track, bridges, and rail car components including wheels, brakes, and couplers.
Integrated Communications Campaign: Media outreach, public affairs, advertising, and content development highlighting how the freight rail industry delivers economic and environmental benefits to Americans, how railroads use modern technology to improve safety, and the importance of balanced regulation of the freight rail industry.
Preserving Balanced Regulation: Promotion of balanced regulatory structures that allow railroads to achieve reasonable rates of return and continue substantial investment in the North American rail network to address capacity challenges.
Standards, Operations, Safety, and Security: Development and maintenance of industry standards and protocols across these critical areas.
Grantmaking
AAR offers grant opportunities through its subsidiaries and affiliated programs:
Review Cycle
for applications.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Revenue: $70.2 million
- Expenses: $68.3 million
- Net Income: $1.9 million
- Total Assets: $52.3 million
- Total Liabilities: $32.1 million
- Net Assets: $20.2 million
Fiscal Year 2023:
- Total Revenues: $77.0 million
- Total Expenses: $68.1 million
- Total Assets: $48.7 million
- Employees: 80
Staffing: The organization employs approximately 80-85 individuals.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $52,287,380 | $48,749,406 | $28,089,328 |
| Revenue | $70,167,327 | $77,003,356 | $59,775,689 |
| Expenses | $68,311,159 | $68,097,791 | $59,833,146 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $651,028 | $376,199 | $45,582 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
61 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Ian Jefferies: Principal Officer
Paul Hedrick: Senior Vice President, Finance & Administration and Chief Financial Officer
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KEITH CREEL | DIRECTOR | 1 | — |
| KATHRYN M FARMER | DIRECTOR | 1 | — |
| JOE HINRICHS | DIRECTOR | 1 | — |
| TRACY ROBINSON | DIRECTOR | 1 | — |
| ALAN SHAW | DIRECTOR (UNTIL 9/15/2024) | 1 | — |
| MICHAEL MILLER | DIRECTOR | 1 | — |
| JIM VENA | DIRECTOR | 1 | — |
| WILLIAM O'LEARY | DIRECTOR | 1 | — |
| MARK GEORGE | DIRECTOR | 1 | — |
| DAN SMITH | DIRECTOR | 1 | — |
| IAN N JEFFERIES | PRESIDENT, CEO | 40 | $2,688,223 |
| PAUL R HEDRICK | SVP-FIN, ADMIN & CFO | 39 | $610,786 |
| EDWARD A KENDALL JR | CORPORATE SECRETARY | 38 | $295,021 |
| KATHRYN D KIRMAYER | SVP-LAW & GENERAL COUNSEL | 40 | $760,778 |
| MICHAEL J RUSH | SVP-SAFETY & OPERATIONS | 38 | $603,536 |
| KRISTIN A SMITH | SVP-COMMUNICATIONS | 40 | $513,810 |
| ADRIAN ARNAKIS | SVP-GOVERNMENT AFFAIRS | 40 | $675,478 |
| RAND GHAYAD | SVP-POLICY & ECONOMICS | 40 | $411,415 |
| STEPHEN GORDON | ASSOCIATE GENERAL COUNSEL | 40 | $362,254 |
| JOHN MILLER | ASSOCIATE GENERAL COUNSEL | 40 | $367,340 |
| WILLIAM C THOMPSON | PROGRAM MANAGER | 40 | $385,880 |
Recent News & Activity
Recent developments and announcements
AAR has been active in grant distribution and partnership development, including awarding grants to affiliated organizations for transportation infrastructure projects and launching student grant programs to support emerging talent in the railroad industry.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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