RESEARCH INSTITUTE FOR FRAGRANCE M… - 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

1966

Legal Domicile

Principal Officer

DR ANNE MARIE API

Phone

2016898089

Tax Period

2023-01-01 to 2023-12-31

RESEARCH INSTITUTE FOR FRAGRANCE MATERIALS INC, founded in 1966, is a mid-sized nonprofit that reported $12.2M in total revenue in fiscal year 2023.

Mission

RESEARCH INSTITUTE FOR FRAGRANCE MATERIALS, INC.'S ("RIFM") MISSION IS TO ENGAGE IN RESEARCH AND EVALUATION OF FRAGRANCE MATERIALS THROUGH AN INDEPENDENT EXPERT PANEL, DETERMINE SAFETY IN USE, GATHER, ANALYZE AND PUBLISH SCIENTIFIC INFORMATION, DISTRIBUTE SCIENTIFIC DATA AND SAFETY ASSESSMENTS TO RIFM MEMBERS.

Program Service Accomplishments

Program 1

RIFM'S LARGEST SERVICE IS SCIENTIFIC PROGRAMS, WHICH CONSIST OF HUMAN HEALTH SCIENCES AND ENVIRONMENTAL SCIENCES. THESE PROGRAMS INVOLVE THE PLACEMENT OF STUDIES TO OBTAIN INFORMATION ON THE RAW...

RIFM'S LARGEST SERVICE IS SCIENTIFIC PROGRAMS, WHICH CONSIST OF HUMAN HEALTH SCIENCES AND ENVIRONMENTAL SCIENCES. THESE PROGRAMS INVOLVE THE PLACEMENT OF STUDIES TO OBTAIN INFORMATION ON THE RAW MATERIALS USED BY THE FRAGRANCE INDUSTRY FOR USE IN DETERMINING SAFETY. DATA IS EVALUATED BY AN INDEPENDENT EXPERT PANEL. INFORMATION AND RECOMMENDATIONS ARE PUBLISHED IN THE PEER REVIEWED SCIENTIFIC LITERATURE AND THEN PROVIDED TO THE INTERNATIONAL FRAGRANCE ASSOCIATION (IFRA) FOR THEIR USE IN DEVELOPING THE IFRA STANDARDS TO BE UTILIZED BY THE FRAGRANCE INDUSTRY TO GUARANTEE THE SAFE USE OF SUCH MATERIALS IN PRODUCTS TO BE DISTRIBUTED TO CONSUMERS.

Program 2

RIFM'S SECOND LARGEST PROGRAM SERVICE IS THE MAINTENANCE OF THE RIFM DATABASE ESTABLISHED IN 1984. INFORMATION IN THIS DATABASE IS AVAILABLE TO ALL RIFM MEMBER ORGANIZATIONS AND ALSO TO INDUSTRY...

RIFM'S SECOND LARGEST PROGRAM SERVICE IS THE MAINTENANCE OF THE RIFM DATABASE ESTABLISHED IN 1984. INFORMATION IN THIS DATABASE IS AVAILABLE TO ALL RIFM MEMBER ORGANIZATIONS AND ALSO TO INDUSTRY ASSOCIATIONS AND OTHER INTERESTED PARTIES. THERE ARE OVER 80,000 REFERENCES AND 7,000 MATERIALS IN THIS DATABASE WHICH IS CONTINUOUSLY EVOLVING AND EXPANDING WITH THE ADDITION OF NEW UPDATED INFORMATION. FURTHER DETAILS CONCERNING EACH OF RIFM'S 4 TOP PROGRAMS ARE CONTAINED IN RIFM'S 2023 ANNUAL REPORT WHICH IS DISTRIBUTED TO ALL RIFM MEMBERS AND ASSOCIATED INDUSTRY GROUPS AND ON REQUEST TO THE PUBLIC. MUCH OF THE INFORMATION CONTAINED IN THIS REPORT IS ALSO ACCESSIBLE ON THE RIFM WEBSITE.

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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 $0

Program Service Revenue $11,849,885

Investment Income $345,489

Other Revenue $0

TOTAL REVENUE $12,195,374

Expense Breakdown

Grants Paid $250

Salaries & Benefits $4,045,113

Fundraising Expenses $0

Other Expenses $8,049,016

TOTAL EXPENSES $12,094,379

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,195,374	$11,951,894	+0.0%
Expenses	$12,094,379	$10,797,857	+0.1%
Net Income	$100,995	$1,154,037	-0.9%

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

$514,855

Total Directors

Key Employees

$732,645

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ROBERT WEINSTEIN	CHAIR & DIRECTOR	2.00	Officer Director	$0	$0	$0
CHRISTOPHER CHOI	VICE CHAIR & DIRECTOR	2.00	Officer Director	$0	$0	$0
ROBBY J GUNAWAN	TREASURER & DIRECTOR	2.00	Officer Director	$0	$0	$0
GEORGE DAHER	SECRETARY & DIRECTOR	2.00	Officer Director	$0	$0	$0
STEVE TANNER	SECRETARY & DIRECTOR THRU JUN 2023	2.00	Officer Director	$0	$0	$0
THILO BISCHOFF	DIRECTOR	0.50	Director	$0	$0	$0
HOLGER HUEPPELER	DIRECTOR	0.50	Director	$0	$0	$0
SUSANNE KETTLER	DIRECTOR	0.50	Director	$0	$0	$0
BHUVANA NAGESHWARAN	DIRECTOR	0.50	Director	$0	$0	$0
ANDY O'SHEA	DIRECTOR	0.50	Director	$0	$0	$0
NICHOLAS PICKTHALL	DIRECTOR	0.50	Director	$0	$0	$0
RODOLPHE QUEROU	DIRECTOR	0.50	Director	$0	$0	$0
CYNTHIA REICHARD	DIRECTOR	0.50	Director	$0	$0	$0
ILARIA RESTA	DIRECTOR THRU JUN 2023	0.50	Director	$0	$0	$0
VERONIQUE SCAILTEUR	DIRECTOR	0.50	Director	$0	$0	$0
CLAUS OLIVER SCHMIDT	DIRECTOR	0.50	Director	$0	$0	$0
RON STARK	DIRECTOR	0.50	Director	$0	$0	$0
ANDREAS STEINER	DIRECTOR THRU JUN 2023	0.50	Director	$0	$0	$0
MAURIZIO VOLPI	DIRECTOR	0.50	Director	$0	$0	$0
DR JAMES ROMINE	PRESIDENT THRU MAR 2023	40.00	Officer	$95,992	$12,286	$108,278
DR ANNE MARIE API VP	RESEARCH/PRESIDENT FROM APR 2023	40.00	Officer	$358,434	$48,143	$406,577
CHRISTEN SACHSE-VASQUEZ	DIRECTOR OF TECH INFO & SERVICES	40.00	Key Emp	$221,572	$38,060	$259,632
STEVEN MANZI	CHIEF OPERATING OFFICER	40.00	Key Emp	$227,525	$29,068	$256,593
DANIELLE BOTELHO	SAFETY ASSESSMENT MANAGER	40.00	Key Emp	$176,918	$39,502	$216,420
AURELIA LAPCZYNSKI PRINCIPAL	SCIENTIST ENVIRONMENTAL TOX.	40.00	Highest	$129,233	$29,980	$159,213
GARY SULLIVAN	MARKETING & COMMUNICATIONS MANAGER	40.00	Highest	$131,963	$21,959	$153,922
GRETCHEN RITACCO	PRINCIPAL SCIENTIST DERMATOXICOLOGY	40.00	Highest	$137,240	$11,912	$149,152
ISABELLE LEE	SENIOR SCIENTIST	40.00	Highest	$119,219	$22,500	$141,719
HOLGER MOUSTAKAS	SCIENTIST CHEMISTRY	40.00	Highest	$121,063	$16,914	$137,977

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	$12,195,374	$12,094,379	$13,321,875	$100,995
2022	$11,951,894	$10,797,857	$12,689,687	$1,154,037
2021	$12,251,592	$10,761,215	$12,937,991	$1,490,377
2020	$7,182,457	$12,296,801	$10,514,795	$-5,114,344
2019	$7,303,727	$11,569,883	$16,035,985	$-4,266,156
2018	$13,591,158	$11,397,886	$19,555,946	$2,193,272

RESEARCH INSTITUTE FOR FRAGRANCE MATERIALS INC