THE MORGRIDGE INSTITUTE FOR RESEAR… - 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

2006

Legal Domicile

Principal Officer

KATHI STANEK

Phone

6083164100

Tax Period

2023-07-01 to 2024-06-30

THE MORGRIDGE INSTITUTE FOR RESEARCH INC, founded in 2006, is a mid-sized nonprofit in the Health Care sector that reported $33.6M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $32.3M left a modest 4% surplus.

Mission

OUR MISSION IS TO IMPROVE HUMAN HEALTH BY CONDUCTING, ENABLING AND TRANSLATING INNOVATIVE, INTERDISCIPLINARY BIOMEDICAL RESEARCH IN PARTNERSHIP WITH THE UNIVERSITY OF WISCONSIN-MADISON AND OTHERS, BY LEVERAGING OUR COLLECTIVE STRENGTH IN RESEARCH AND EDUCATION.OUR VISION IS TO SOLVE MAJOR CHALLENGES TO HUMAN HEALTH BY SERVING AS AN INTERDISCIPLINARY RESEARCH CENTER AND COLLABORATIVE HUB THAT ENABLES INVESTIGATORS TO ADDRESS AND ANSWER FUNDAMENTAL BIOMEDICAL QUESTIONS.WE ENVISION USING OUR PRIVATE STATUS AND STREAMLINED ORGANIZATIONAL STRUCTURE TO RESPOND NIMBLY TO EMERGING OPPORTUNITIES. IN PARTNERSHIP WITH AN OUTSTANDING PUBLIC RESEARCH UNIVERSITY WE WILL SYNERGISTICALLY ENHANCE OUR COLLECTIVE STRENGTHS.THROUGH COMMUNITY ENGAGEMENT WE WILL PROMOTE BETTER UNDERSTANDING OF THE HEALTH BENEFITS OF BIOMEDICAL RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $6,114,487

BIOMEDICAL IMAGING: ADVANCING TECHNOLOGIES TO BETTER DIAGNOSE, TREAT AND PREVENT DISEASE- TRANSIENT LIGHTING FOR SURGERY: DEVELOPMENT OF A RAPID-SWITCH LIGHTING SYSTEM THAT PROVIDES FULL LIGHT IN THE OPERATING ROOM, WHILE PROTECTING LIGHT-SENSITIVE FLUORESCENCE IMAGES OF USE TO SURGEONS.- BETTER CT IMAGES: DEVELOPING A MULTI-SOURCE X-RAY TUBE FOR COMPUTED TOMOGRAPHY (CT) - ONE OF THE MOST WIDELY USED TOOLS TO IMAGE DISEASE - TO ENABLE FASTER IMAGING, DOSE REDUCTION, AND IMPROVED IMAGE QUALITY.- IMPROVED BREAST CANCER TRACKING: CREATING AN IMAGING SYSTEM TO TRACK BREAST CANCER BASED ON ALIGNMENT OF COLLAGEN FIBERS, WHICH ARE BIOMARKERS FOR BREAST CANCER METASTASIS.

Program 2

Expenses: $4,143,059

REGENERATIVE BIOLOGY: UNDERSTANDING AND DIRECTING CELLULAR FATES TO IMPROVE HEALTH- CREATE PHYSIOLOGICALLY STABLE, SAFE AND FUNCTIONAL CELLS TO BETTER UNDERSTAND THE HUMAN BODY.- APPLY KNOWLEDGE...

REGENERATIVE BIOLOGY: UNDERSTANDING AND DIRECTING CELLULAR FATES TO IMPROVE HEALTH- CREATE PHYSIOLOGICALLY STABLE, SAFE AND FUNCTIONAL CELLS TO BETTER UNDERSTAND THE HUMAN BODY.- APPLY KNOWLEDGE ABOUT CELLULAR GENERATION FOR APPLICATION IN PREVENTION AND TREATMENT OF DEGENERATIVE DISEASES.- APPLY KNOWLEDGE TO DEVELOP AND TAILOR DRUGS FOR SPECIFIC NEEDS.

Program 3

Expenses: $3,512,225

VIROLOGY: UNLOCKING THE SECRETS OF VIRUS-HOST INTERACTIONS TO BETTER PROTECT HUMAN HEALTH- ADVANCE PRACTICAL UNDERSTANDING, PREVENTION AND TREATMENT OF VIRUSES AND THEIR DISEASES.- ENHANCE...

VIROLOGY: UNLOCKING THE SECRETS OF VIRUS-HOST INTERACTIONS TO BETTER PROTECT HUMAN HEALTH- ADVANCE PRACTICAL UNDERSTANDING, PREVENTION AND TREATMENT OF VIRUSES AND THEIR DISEASES.- ENHANCE UNDERSTANDING OF THE BIOLOGY OF HEALTHY CELLS AND TISSUES.- DEVELOP NEW TOOLS DERIVED FROM VIRUSES FOR USE IN BIOTECHNOLOGY, NANOTECHNOLOGY AND MEDICINE.

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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 $33,528,597

Program Service Revenue $68,461

Investment Income $-183,099

Other Revenue $155,372

TOTAL REVENUE $33,569,331

Expense Breakdown

Grants Paid $1,519,557

Salaries & Benefits $17,403,439

Fundraising Expenses $1,166,117

Program Expenses $21,497,809

Other Expenses $13,336,179

TOTAL EXPENSES $32,259,175

Year-over-Year Comparison

	2023	2022	Change
Revenue	$33,569,331	$26,189,437	+0.3%
Expenses	$32,259,175	$28,100,888	+0.1%
Net Income	$1,310,156	$-1,911,451	-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

Employees

182

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

$1,241,819

Total Directors

$1,778,693

Key Employees

$346,785

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIK IVERSON	TRUSTEE	4.00	Director	$15,000	$171,013	$948,458
BRAD SCHWARTZ	CEO/TRUSTEE	40.00	Officer Director	$521,700	$50,535	$572,235
DEBORAH KELLER	TRUSTEE	2.00	Director	$15,000	$0	$42,000
WINSLOW L SARGEANT	TRUSTEE	2.00	Director	$15,000	$0	$42,000
PATRICIA LIPTON	TRUSTEE	2.00	Director	$15,000	$0	$39,000
JACQUELYN FREDRICK	TRUSTEE/CHAIR	2.00	Officer Director	$15,000	$0	$15,000
MARY BURKE	TRUSTEE	2.00	Director	$15,000	$0	$15,000
HARVEY COHEN	TRUSTEE	2.00	Director	$15,000	$0	$15,000
JAMES DAHLBERG	TRUSTEE	2.00	Director	$15,000	$0	$15,000
JOHN NEIS	TRUSTEE	2.00	Director	$15,000	$0	$15,000
JOHN BURRIS	TRUSTEE	2.00	Director	$15,000	$0	$15,000
THOMAS PYLE JR	TRUSTEE	2.00	Director	$15,000	$0	$15,000
THOMAS KRUMMEL	TRUSTEE (UNTIL 2/2024)	2.00	Director	$10,000	$0	$10,000
TESS MORGRIDGE GARDNER	TRUSTEE	2.00	Director	$10,000	$0	$10,000
ERIC MORGRIDGE	TRUSTEE	2.00	Director	$10,000	$0	$10,000
FRED ROBERTSON	TRUSTEE/VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOHN MORGRIDGE	TRUSTEE	2.00	Director	$0	$0	$0
TASHIA MORGRIDGE	TRUSTEE	2.00	Director	$0	$0	$0
KATHI STANEK	CFO/COO/TREASURER	40.00	Officer	$339,900	$48,592	$388,492
BRIAN MATTMILLER	CHIEF COMMUNICATIONS OFF./SECRETARY	40.00	Officer	$218,247	$47,845	$266,092
WILLIAM SWISHER JR	CHIEF DEVELOPMENT OFFICER	40.00	Key Emp	$291,508	$55,277	$346,785
MELISSA SKALA	LEAD INVESTIGATOR	40.00	Highest	$274,579	$52,055	$326,634
PAUL AHLQUIST	LEAD INVESTIGATOR	40.00	Highest	$221,504	$48,087	$269,591
RONALD STEWART	ASSOCIATE DIRECTOR - BIOIN	40.00	Highest	$201,577	$36,276	$237,853
JILL WALDER	DIRECTOR OF HUMAN RESOURCE	40.00	Highest	$175,321	$43,254	$218,575
DOUG EKLUND	CONTROLLER	40.00	Highest	$182,489	$31,103	$213,592

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
2025	No data	No data	No data	No data
2024	$33,569,331	$32,259,175	$88,421,400	$1,310,156
2023	$26,189,437	$28,100,888	$87,077,299	$-1,911,451
2022	$31,260,275	$28,634,578	$39,159,232	$2,625,697
2021	$29,381,681	$27,481,598	$37,239,954	$1,900,083
2020	$31,940,296	$32,476,401	$32,667,794	$-536,105
2019	$31,704,046	$31,285,881	$33,580,884	$418,165
2018	$355,011,811	$376,385,621	$37,864,329	$-21,373,810

THE MORGRIDGE INSTITUTE FOR RESEARCH INC