CENTER FOR VETERANS RESEARCH AND EDUCATION (EIN 411652941) - 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

1988

Legal Domicile

Principal Officer

NADINE ROGERS

Phone

6124674354

Tax Period

2025-01-01 to 2025-12-31

CENTER FOR VETERANS RESEARCH AND EDUCATION, founded in 1988, is a community nonprofit in the Medical Research sector that reported $7.1M in total revenue in fiscal year 2025.

Mission

ESTABLISHED TO SERVICE AS A FLEXIBLE FUNDING MECHANISM FOR THE CONDUCT OF APPROVED RESEARCH AND RELATED ACTIVITIES AT THE MINNEAPOLIS VA HEALTH CARE SYSTEM (MVAHCS). SUPPORTED RESEARCH STUDIES ARE CONDUCTED FOR THE PURPOSE OF DISCOVERING NEW OR IMPROVED TREATMENTS FOR DISEASE AND DISABILITY; AND FOR EDUCATION OF VA PATIENTS AND FAMILIES, AND VA PERSONNEL FOR THEIR DEVELOPMENT AND ADVANCEMENT OF KNOWLEDGE.

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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 (2025)

Revenue Breakdown

Contributions & Grants $4,859

Program Service Revenue $6,985,753

Investment Income $139,520

Other Revenue $9,388

TOTAL REVENUE $7,139,520

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,316,095

Fundraising Expenses $0

Program Expenses $5,682,701

Other Expenses $3,683,698

TOTAL EXPENSES $6,999,793

Year-over-Year Comparison

	2025	2024	Change
Revenue	$7,139,520	$6,893,506	+0.0%
Expenses	$6,999,793	$7,144,251	0.0%
Net Income	$139,727	$-250,745	-1.6%

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

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

$1,161,882

Total Directors

$2,463,527

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL ARMSTRONG	PRESIDENT	0.10	Officer Director	$0	$124,820	$524,250
BRADLEY BART	DIRECTOR	0.10	Director	$0	$96,068	$477,634
STEVEN FU	VICE PRESIDE	0.10	Officer Director	$0	$113,219	$464,011
PATRICK KELLY	DIRECTOR	0.10	Director	$0	$87,532	$360,373
ORLY VARDENY NI	DIRECTOR	0.10	Director	$0	$71,414	$252,383
VANITA AHUJA	DIRECTOR	0.10	Director	$0	$49,269	$227,507
NADINE ROGERS	EXECUTIVE DI	40.00	Officer	$166,736	$6,885	$173,621
NICHOLAS DAVENPORT	DIRECTOR	0.10	Director	$0	$40,923	$157,369
NICOLE CHRIST	RES PROG MGR	40.00	Highest	$115,852	$11,125	$126,977
JENNIFER ROBB	CLIN TRIAL M	40.00	Highest	$105,700	$15,503	$121,203
ASHLEA MAYBERRY	RES PROG MGR	40.00	Highest	$105,413	$4,360	$109,773
PAMELA SHARPE	GRANT ADM MG	40.00	Highest	$102,871	$460	$103,331
THOMAS LYONS	TREASURER	0.10	Officer Director	$0	$0	$0
ERIC MEITTUNEN	DIRECTOR	0.10	Director	$0	$0	$0
MATTHEW MEYER	DIRECTOR	0.10	Director	$0	$0	$0
JANE MORASKI	DIRECTOR	0.10	Director	$0	$0	$0

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	$7,139,520	$6,999,793	$7,107,235	$139,727
2024	$6,893,506	$7,144,251	$6,772,819	$-250,745
2023	$8,291,707	$7,982,309	$6,997,455	$309,398
2022	$8,878,263	$8,701,185	$6,738,988	$177,078
2021	$7,313,382	$7,095,586	$6,193,088	$217,796
2020	$5,888,679	$5,522,878	$5,659,899	$365,801
2019	$5,339,761	$5,255,884	$5,623,591	$83,877
2018	$4,654,669	$4,217,603	$4,936,719	$437,066

CENTER FOR VETERANS RESEARCH AND EDUCATION