FLORIDA STATE UNIVERSITY MAGNET RE… - Form 990 Financial Data

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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

2007

Legal Domicile

Principal Officer

TIFFANY RITTER

Phone

8506443651

Tax Period

2019-07-01 to 2020-06-30

FLORIDA STATE UNIVERSITY MAGNET RESEARCH AND DEVELOPMENT INC, founded in 2007, is a small nonprofit in the Science & Technology sector that reported $139K in total revenue in fiscal year 2019. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $126K left a modest 9% surplus.

Mission

FSUMRD OPERATES FOR THE PURPOSE OF SUPPORTING, ENCOURAGING, AND PROMOTING SCIENTIFIC RESEARCH, EDUCATION, AND TRAINING ACTIVITIES OF FACULTY, STAFF, AND STUDENTS OF FLORIDA STATE UNIVERSITY. THE ORGANIZATION EXISTS TO DESIGN, DEVELOP, INVENT, ASSEMBLE, CONSTRUCT, TEST, REPAIR, MAINTAIN, AND FABRICATE MAGNETS OR MAGNET SYSTEMS OF ANY TYPE OF DESIGN, AND ANY ANCILLARY COMPONENTS NECESSARY OR DESIRABLE FOR THE DEVELOPMENT, OPERATION, OR MAINENANCE THEREOF.

Program Service Accomplishments

Program 1

Expenses: $101,454 Revenue: $137,597

DEVELOPMENT OF SERIES-CONNECTED HYBRID MAGNET FOR HELMHOLTZ-ZENTRUM BERLIN (ALL ACTIVITIES TAKE PLACE IN THE UNITED STATES) RESEARCH AND DEVELOPMENT SERVICES CONTINUED DURING THE REPORTING PERIOD...

DEVELOPMENT OF SERIES-CONNECTED HYBRID MAGNET FOR HELMHOLTZ-ZENTRUM BERLIN (ALL ACTIVITIES TAKE PLACE IN THE UNITED STATES) RESEARCH AND DEVELOPMENT SERVICES CONTINUED DURING THE REPORTING PERIOD RELATED PRIMARILY TO THE CRYOSTAT AND CABLING PROJECTS. THE LONG TERM GOAL CONTINUES TO BE THE DEVELOPMENT AND PRODUCTION OF AN OPERATIONAL RESEARCH MAGNET OF THE SERIES-CONNECTED HYBRID DESIGN.

Program 2

Expenses: $98 Revenue: $115

HYBRID MAGNET DEVELOPMENT PROJECT FOR RADBOUD UNIVERSITY NIJMEGEN (ALL ACTIVITIES TAKE PLACE IN THE UNITED STATES) RESEARCH AND DEVELOPMENT SERVICES CONTINUED DURING THE REPORTING PERIOD. THE LONG...

HYBRID MAGNET DEVELOPMENT PROJECT FOR RADBOUD UNIVERSITY NIJMEGEN (ALL ACTIVITIES TAKE PLACE IN THE UNITED STATES) RESEARCH AND DEVELOPMENT SERVICES CONTINUED DURING THE REPORTING PERIOD. THE LONG TERM GOAL IS THE DEVELOPMENT AND CONSTRUCTION OF A 45 T HYBRID MAGNET SYSTEM.

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $137,713

Investment Income $1,355

Other Revenue $0

TOTAL REVENUE $139,068

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $101,552

Other Expenses $125,883

TOTAL EXPENSES $125,883

Year-over-Year Comparison

	2019	2018	Change
Revenue	$139,068	$95,834	+0.5%
Expenses	$125,883	$114,168	+0.1%
Net Income	$13,185	$-18,334	-1.7%

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

N/A

Employees

N/A

Volunteers

N/A

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

$785,799

Total Directors

$2,752,733

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ROSS ELLINGTON	VP/DIRECTER THRU AUG 2019	1.00	Officer Director	$0	$22,352	$215,408
IAIN DIXON	DIRECTOR	10.00	Director	$0	$31,265	$184,957
JOHN THRASHER	DIRECTOR	1.00	Director	$0	$289,941	$1,022,749
DR GARY OSTRANDER	PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$55,089	$392,967
DR GREGORY BOEBINGER	DIRECTOR	3.00	Director	$0	$39,562	$400,743
DR MARK D BIRD	DIRECTOR	10.00	Director	$0	$23,354	$197,863
DR DAVID LARBALESTIER	DIRECTOR	1.00	Director	$0	$32,292	$338,046
KELLY STARKE	SECRETARY	1.00	Officer	$0	$23,855	$94,430
TIFFANY RITTER	TREASURER	10.00	Officer	$0	$22,977	$82,994

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
2020	$139,068	$125,883	$360,872	$13,185
2019	$95,834	$114,168	$439,692	$-18,334

FLORIDA STATE UNIVERSITY MAGNET RESEARCH AND DEVELOPMENT INC