UNDERWRITERS LABORATORIES INC (EIN 361892375) - Form 990 Financial Analysis & Trantor Score

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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

CHRIS CRAMER

Phone

2247144901

Tax Period

2023-01-01 to 2023-12-31

UNDERWRITERS LABORATORIES INC, founded in 1936, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $29.3M in total revenue in fiscal year 2018. Expenses of $38.1M exceeded revenue, resulting in a 30% operating deficit.

Mission

ONE OFFICER AND THREE TRUSTEES LISTED IN PART VII, SECTION A RECEIVED FIRST-CLASS TRAVEL IN 2023. THESE BENEFITS WERE NOT CONSIDERED TAXABLE COMPENSATION. THREE TRUSTEES LISTED IN PART VII, SECTION A RECEIVED TRAVEL FOR A COMPANION IN 2023. THESE BENEFITS WERE CONSIDERED TAXABLE TO THE INDIVIDUAL.

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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 $1,182,216

Program Service Revenue $1,088,367

Investment Income $13,055,739

Other Revenue $26,304

TOTAL REVENUE $15,352,626

Expense Breakdown

Grants Paid $8,873,402

Salaries & Benefits $37,914,263

Fundraising Expenses $0

Program Expenses $49,522,131

Other Expenses $44,866,406

TOTAL EXPENSES $91,654,071

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,352,626	$1,640,913	+8.4%
Expenses	$91,654,071	$59,203,846	+0.5%
Net Income	$-76,301,445	$-57,562,933	+0.3%

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

218

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

$12,132,411

Total Directors

$5,964,251

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
K WILLIAMS	FORMER PRES/CEO - UL SOLUTIONS	0.0		$0	$0	$20,923,103
W ZHOU	EVP/PRES (TIC) - UL SOLUTIONS	0.0		$0	$69,162	$4,584,769
T BRADY	PRESIDENT & CEO (UNTIL 11/23)	54.0	Officer Director	$1,876,493	$61,854	$3,962,481
M SALTZMAN	FORMER SVP - UL SOLUTIONS	0.0		$0	$0	$2,541,863
C CORREIA	FORMER VP - UL SOLUTIONS	0.0		$0	$0	$2,504,231
R ROBINSON	EVP & CFO - UL SOLUTIONS	0.0		$0	$68,862	$2,168,173
A GROOM	FMR SVP CHIEF HRO-UL SOLUTIONS	0.0		$0	$0	$2,016,832
J FISCHER	FORMER EVP - UL SOLUTIONS	0.0		$0	$0	$1,608,917
J MCLAUGHLIN	EVP & CLO -UL SOLUTIONS	0.0		$0	$39,000	$1,054,845
S WEBSTER	VP - UL SOLUTIONS	0.0		$0	$48,290	$962,890
T RIVELLI	SVP & CLO, CORPORATE SECRETARY	40.0	Officer	$0	$54,354	$924,597
R BLAUSTEIN	SVP & CFO	30.0	Officer	$0	$60,534	$789,675
C CRAMER	INTERIM PRESIDENT/CRO	60.0	Officer	$600,020	$61,854	$661,874
B MONKS	FORMER VP - UL SOLUTIONS	0.0		$129,312	$0	$645,816
M BLACK	VP & SR. TECHNICAL ADVISOR	60.0	Officer	$546,950	$61,854	$608,804
J SHANNON	TRUSTEE	8.0	Director	$85,000	$0	$578,338
C FARMER	SVP, COO	60.0	Officer	$561,637	$12,890	$574,527
R BORGER	SVP & CHIEF HR OFFICER	30.0	Officer	$0	$53,041	$529,182
K SZCZECH	SVP/ TREAS - UL SOLUTIONS	0.0		$0	$0	$529,114
S KERBER	VP, EXECUTIVE DIRECTOR - FSRI	60.0	Officer	$412,421	$57,081	$469,502
E WEST	VP/ASST SEC - UL SOLUTIONS	0.0		$0	$37,606	$461,896
J CANFIELD	VP OF STRATEGY	30.0	Officer	$0	$58,830	$447,848
J DOLLIVE	TRUSTEE	8.0	Director	$182,500	$0	$419,688
J JEEVARAJAN	VP, EXECUTIVE DIRECTOR OF ESRI	60.0	Officer	$374,654	$41,849	$416,503
D MADRZYKOWSKI	DIRECTOR OF RESEARCH, FSRI	60.0	Highest	$356,476	$43,515	$399,991
K DELPHOS	VP, CORP. COMMUNICATIONS & PR	60.0	Officer	$336,450	$50,165	$386,615
M MURRAY	VP, LEGAL & CORPORATE AFFAIRS	30.0	Officer	$0	$45,904	$373,906
B LONG	VP, LEGAL AFFAIRS	30.0	Officer	$0	$51,683	$369,758
V MODEKURTI	SVP & CIO (AS OF 2/23)	30.0	Officer	$0	$31,796	$360,967
Z SUSICE	DIRECTOR, STRATEGY & MARKETING	60.0	Highest	$313,572	$40,208	$353,780
D CONCEPCION	VP, CONTROLLER	30.0	Officer	$0	$54,182	$350,539
J CRISMAN	VP, EXECUTIVE DIRECTOR OF DSRI	60.0	Officer	$296,254	$47,673	$343,927
S MILLER	VP, EXECUTIVE DIRECTOR - MDRI	60.0	Officer	$290,876	$35,845	$326,721
C WRIGHT	RESEARCH DIRECTOR	60.0	Highest	$272,041	$32,332	$304,373
M BHATTACHARYYA	DIRECTOR STRATEGIC COMM.	30.0	Highest	$120,164	$44,139	$304,012
G PUMPUNI-LENSS	DIRECTOR, OPERATIONS PROGRAM	60.0	Highest	$263,137	$34,856	$297,993
V PATEL	TREASURER (AS OF 2/23)	30.0	Officer	$0	$21,320	$234,985
G WILLIAMS	TRUSTEE	8.0	Director	$180,000	$0	$180,000
P KHOURY	TRUSTEE	8.0	Director	$180,000	$0	$180,000
D PINES	TRUSTEE	6.0	Director	$170,180	$0	$170,180
R OWEN	TRUSTEE	6.0	Director	$167,500	$0	$167,500
M SCHMID	TRUSTEE	6.0	Director	$167,002	$0	$167,002
E TOERSTAD	TRUSTEE	6.0	Director	$139,062	$0	$139,062

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	$15,352,626	$91,654,071	$1,071,845,446	$-76,301,445
2022	$1,640,913	$59,203,846	$950,640,126	$-57,562,933
2021	$1,224,941,752	$7,689,230,678	$1,099,187,241	$-6,464,288,926
2020	$33,764,842	$45,706,716	$854,826,371	$-11,941,874
2019	$30,105,111	$48,309,679	$851,217,772	$-18,204,568
2018	$29,251,539	$38,128,750	$851,430,709	$-8,877,211

UNDERWRITERS LABORATORIES INC