Redwood Research — Annual Expenses: $13M

NoteThe source directly confirms the exact stored value. The ProPublica Nonprofit Explorer page for Redwood Research Group Inc (EIN: 87-1702255) displays the 2022 Form 990 data showing Expenses of $12,759,191, which matches precisely the exact stored value provided in the claim. The claim's rounded display value of '$12.8M' is also consistent with this figure (~$12.76M). The source is the official IRS Form 990 filing data as processed by ProPublica.