ULSE 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

2019

Legal Domicile

Principal Officer

GEORGE BORLASE

Phone

2247144901

Tax Period

2023-01-01 to 2023-12-31

ULSE INC, founded in 2019, is a major nonprofit in the Public & Societal Benefit sector that reported $709.4M in total revenue in fiscal year 2023. Revenue fell 56% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $647.0M, a strong 91% operating margin.

Mission

ULSE INC. TRANSLATES SCIENTIFIC DISCOVERIES INTO STANDARDS AND POLICIES THAT HAVE THE POWER TO MAKE A SYSTEMIC IMPACT ON PUBLIC SAFETY THROUGHOUT THE WORLD. OUR EXTENSIVE LIBRARY OF STANDARDS HELPS TO MAKE EVERYDAY THINGS SAFER, MORE SECURE, AND MORE SUSTAINABLE, FROM LIFE JACKETS TO BATTERIES TO AUTONOMOUS CARS.

Program Service Accomplishments

Program 1

Expenses: $37,826,612 Revenue: $26,724,980

ULSE INC. DEVELOPS AND PUBLISHES CONSENSUS STANDARDS THAT HELP GUIDE THE SAFETY AND SUSTAINABILITY OF NEW AND EVOLVING PRODUCTS, TECHNOLOGIES, AND SERVICES THAT RANGE FROM HOUSEHOLD APPLIANCES, SMOKE ALARMS, AND BATTERIES TO BUILDING MATERIALS, CYBERSECURITY, AND AUTONOMOUS VEHICLES FOR THE BENEFIT OF THE PUBLIC.

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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 $3,500

Program Service Revenue $26,724,980

Investment Income $682,675,548

Other Revenue $0

TOTAL REVENUE $709,404,028

Expense Breakdown

Grants Paid $1,914,060

Salaries & Benefits $27,631,423

Fundraising Expenses $0

Program Expenses $37,826,612

Other Expenses $32,899,188

TOTAL EXPENSES $62,444,671

Year-over-Year Comparison

	2023	2022	Change
Revenue	$709,404,028	$1,619,625,676	-0.6%
Expenses	$62,444,671	$39,794,315	+0.6%
Net Income	$646,959,357	$1,579,831,361	-0.6%

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

234

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

$7,355,030

Total Directors

$4,885,819

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
T BRADY	BOARD MEMBER (UNTIL 11/23)	6.0	Director	$0	$61,854	$3,962,481
R ROBINSON	EVP & CFO - UL SOLUTIONS	0.0		$0	$68,862	$2,168,173
T RIVELLI	SVP & CLO, CORPORATE SECRETARY	30.0	Officer	$798,522	$54,354	$924,597
D STEEL	EXECUTIVE DIRECTOR OF ULSE	60.0	Officer	$777,028	$53,280	$830,308
R BLAUSTEIN	SVP & CFO	30.0	Officer	$729,141	$60,534	$789,675
J SHANNON	BOARD MEMBER	6.0	Director	$168,338	$0	$578,338
R BORGER	SVP & CHIEF HR OFFICER	30.0	Officer	$476,141	$53,041	$529,182
K SZCZECH	SVP/ TREAS - UL SOLUTIONS	0.0		$0	$0	$529,114
E WEST	VP/ASST SEC - UL SOLUTIONS	0.0		$0	$37,606	$461,896
J CANFIELD	VP OF STRATEGY	30.0	Officer	$389,018	$58,830	$447,848
K DENIS	HEAD OF COMMUNICATIONS	60.0	Officer	$337,030	$57,584	$394,614
P PIQUEIRA	VP (GLOBAL STANDARDS), SNR ADV	60.0	Officer	$356,710	$35,365	$392,075
G BORLASE	INTERIM EXEC. DIRECTOR OF ULSE	60.0	Officer	$348,103	$40,898	$389,001
D WROTH	DIRECTOR OF TECHNOLOGY & SYSTE	60.0	Highest	$317,643	$57,484	$375,127
S BIRD	VP, INT STANDARDS	60.0	Officer	$326,119	$47,975	$374,094
M MURRAY	VP, LEGAL AND CORPORATE AFFAIR	30.0	Officer	$328,002	$45,904	$373,906
B LONG	VP, LEGAL AFFAIRS	30.0	Officer	$318,075	$51,683	$369,758
V MODEKURTI	SVP & CIO (AS OF 2/23)	30.0	Officer	$329,171	$31,796	$360,967
D CONCEPCION	VP, CONTROLLER	30.0	Officer	$296,357	$54,182	$350,539
S BROOKS	DIRECTOR STANDARDS OPERATIONS	60.0	Highest	$288,373	$53,247	$341,620
D MCKNIGHT	HEAD OF PARTNERSHIPS	60.0	Officer	$314,194	$20,575	$334,769
R MYERS	DIRECTOR, STANDARDS PROGRAMS	60.0	Highest	$301,711	$21,003	$322,714
R OLESEN	STANDARDS MANAGER	60.0	Highest	$255,541	$43,883	$299,424
D JORDAN	DIRECTOR, STANDARDS PROGRAMS	60.0	Highest	$259,331	$40,058	$299,389
L ROHRBAUGH	HEAD OF INSIGHTS (AS OF 1/23)	60.0	Officer	$225,121	$33,591	$258,712
V PATEL	TREASURER (AS OF 2/23)	30.0	Officer	$213,665	$21,320	$234,985
P KHOURY	BOARD MEMBER (AS OF 11/23)	0.5	Director	$0	$0	$180,000
J WITTENBERG	BOARD MEMBER	6.0	Director	$165,000	$0	$165,000

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	$709,404,028	$62,444,671	$2,092,621,786	$646,959,357
2022	$1,619,625,676	$39,794,315	$1,340,148,729	$1,579,831,361
2021	$7,835,147,366	$5,930,940	$855,524,075	$7,829,216,426