ADVERTISING RESEARCH FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1936

Legal Domicile

Principal Officer

SCOTT MCDONALD

Phone

2127515656

Tax Period

2023-01-01 to 2023-12-31

ADVERTISING RESEARCH FOUNDATION INC, founded in 1936, is a mid-sized nonprofit that reported $11.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $10.8M left a modest 3% surplus.

Mission

THE ARF'S MISSION IS TO FURTHER, THROUGH RESEARCH, THE SCIENTIFIC PRACTICE OF ADVERTISING AND MARKETING. THE ARF IS THE PREEMINENT PROFESSIONAL ORGANIZATION FOCUSED ON CREATING AND CHAMPIONING UNBIASED HIGH-QUALITY RESEARCH ON ADVERTISING, MARKETING, AND MEDIA.

Program Service Accomplishments

Program 1

Expenses: $573,776 Revenue: $253,506

PUBLISHED THE JOURNAL OF ADVERTISING RESEARCH: THIS JOURNAL REPORTED ADVERTISING INDUSTRY RESEARCH FINDINGS FOR THE USE OF ADVERTISING PRACTITIONERS AND USERS OF ADVERTISING RESEARCH.

Program 2

Expenses: $2,618,938 Revenue: $1,389,176

CONDUCTED CONFERENCES, WORKSHOPS AND SYMPOSIUMS. PRINCIPAL MISSION IS TO DEVELOP AND MAINTAIN A CONTINUING PROGRAM OF ACTIVITIES AND PUBLICATIONS FOR THE ADVERTISING RESEARCH INDUSTRY.

Program 3

Expenses: $3,929,163 Revenue: $1,462,301

CURATED RESEARCH: THE ADVERTISING RESEARCH FOUNDATION CURATES INDUSTRY RESEARCH AND PERFORMS INDEPENDENT RESEARCH WHICH IS DISTRIBUTED THROUGH PUBLICATIONS, WORKSHOPS, AND CONFERENCES TO ITS MEMBERS...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $894,267

Program Service Revenue $10,076,529

Investment Income $127,772

Other Revenue $82,442

TOTAL REVENUE $11,181,010

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,466,152

Fundraising Expenses $0

Program Expenses $7,121,877

Other Expenses $4,354,249

TOTAL EXPENSES $10,820,401

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,181,010	$10,116,267	+0.1%
Expenses	$10,820,401	$9,707,768	+0.1%
Net Income	$360,609	$408,499	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$774,896

Total Directors

$514,342

Key Employees

$619,279

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL LIVEK	BOARD MEMBER	1.00	Director	$0	$0	$0
KIRTI SINGH	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK TRUSS	BOARD MEMBER/VICE CHAIR	1.00	Officer Director	$0	$0	$0
ANDY FISHER	BOARD MEMBER (TO 6/30/23)	1.00	Director	$0	$0	$0
NISHAT MEHTA	BOARD MEMBER/CHAIR	1.00	Officer Director	$0	$0	$0
RADHA SUBRMANYAM	BOARD MEMBER	1.00	Director	$0	$0	$0
SCOTT MCDONALD	BOARD MEMBER/PRES & CEO	40.00	Officer Director	$502,379	$11,963	$514,342
TIM PERZYK	BOARD MEMBER/TREASURER	1.00	Officer Director	$0	$0	$0
CHRIS FOSDICK	BOARD MEMBER	1.00	Director	$0	$0	$0
PETE DOE	BOARD MEMBER	1.00	Director	$0	$0	$0
ABHILASHA MEHTA	BOARD MEMBER/SECRETARY	1.00	Officer Director	$0	$0	$0
CARL MELA	BOARD MEMBER	1.00	Director	$0	$0	$0
TINA DANIELS	BOARD MEMBER (TO 8/31/23)	1.00	Director	$0	$0	$0
SEAN BRUICH	BOARD MEMBER	1.00	Director	$0	$0	$0
MAINAK MAZUMDAR	BOARD MEMBER (TO 1/31/23)	1.00	Director	$0	$0	$0
ANDY SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINE TURNER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY ANN PACKO	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN COOPER	BOARD MEMBER (TO 9/30/23)	1.00	Director	$0	$0	$0
ELYSSA RUBIN	CFO	37.50	Officer	$237,984	$22,570	$260,554
PAUL DONATO	CHIEF RESEARCH OFFICER	40.00	Key Emp	$299,620	$20,650	$320,270
MICHAEL HEITNER	CHIEF GROWTH OFFICER	40.00	Key Emp	$279,012	$19,997	$299,009
GWEN LA FANTASIE	VP, MEMBERSHIP	40.00	Highest	$162,978	$16,245	$179,223
JAY MATTLIN	VP, RESEARCH	40.00	Highest	$176,116	$6,911	$183,027
RACHAEL FEIGENBAUM	SVP, EVENTS PROGRAM PRODUC	40.00	Highest	$186,997	$18,874	$205,871
NIKOLE TENBRINK	VP, MARKETING	40.00	Highest	$161,657	$17,690	$179,347
SHERRY PINCUS	MANAGING DIRECTOR	40.00	Highest	$149,887	$24,943	$174,830

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$11,181,010	$10,820,401	$9,066,561	$360,609
2022	$10,116,267	$9,707,768	$8,985,759	$408,499
2021	$8,623,968	$8,163,922	$7,084,927	$460,046
2020	$7,143,778	$6,908,134	$4,794,102	$235,644
2019	$7,745,961	$7,826,264	$4,252,749	$-80,303
2018	$7,558,283	$7,912,610	$4,216,629	$-354,327