IQM RESEARCH INSTITUTE

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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

2014

Legal Domicile

Principal Officer

MICHAEL DUDZIK

Phone

8102241717

Tax Period

2024-01-01 to 2024-12-31

IQM RESEARCH INSTITUTE, founded in 2014, is a community nonprofit in the Science & Technology sector that reported $4.6M in total revenue in fiscal year 2024.

Mission

PERFORM FUNDAMENTAL AND APPLIED RESEARCH IN THE PUBLIC INTEREST FOR GOVERNMENTAL AND EDUCATIONAL INSTITUTIONS AND PRIVATE INDUSTRY TO ATTRACT HIGH TECHNOLOGY TO THE STATE OF MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $1,554,279 Revenue: $2,492,714

CONDUCTING BASIC RESEARCH FOR A UNITED STATES GOVERNMENT CONTRACT.

Program 2

Expenses: $568,454 Revenue: $263,199

ARTIFICIAL INTELLIGENCE.

Program 3

Expenses: $391,180 Revenue: $465,462

RESEARCH AND DEVELOP VEHICULAR CYBERSECURITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $810,308

Program Service Revenue $3,620,305

Investment Income $28,076

Other Revenue $141,822

TOTAL REVENUE $4,600,511

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,098,824

Fundraising Expenses $0

Program Expenses $2,851,103

Other Expenses $1,462,939

TOTAL EXPENSES $4,561,763

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,600,511	$4,650,631	0.0%
Expenses	$4,561,763	$4,347,436	+0.0%
Net Income	$38,748	$303,195	-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

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

$849,973

Total Directors

$855,973

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DUDZIK	PRESIDENT AND CEO	40.00	Officer Director	$284,415	$14,221	$298,636
TERENCE RHOADES	DIRECTOR	0.10	Director	$2,000	$0	$2,000
MARIA THOMPSON	DIRECTOR	0.10	Director	$2,000	$0	$2,000
MICHAEL STONE	DIRECTOR	0.10	Director	$2,000	$0	$2,000
JIM MILES	CHIEF OPERATING OFFICER	40.00	Officer Director	$255,342	$12,767	$268,109
DAVID FLEURY	CHIEF FINANCIAL OFFICER	39.75	Officer Director	$248,322	$12,731	$261,053
GERALD BRENNAN	VP OF LEGAL AFFAIRS	5.00	Officer Director	$21,119	$1,056	$22,175
PAOLO SPADAFORA	VICE PRESIDENT	27.00	Highest	$241,930	$29,025	$270,955
JAMES KIRK	RESEARCH SCIENTIST	25.00	Highest	$110,766	$5,599	$116,365
MELAINE A CORCORAN	VP OF ADVANCE PROGRAMS	23.00	Highest	$304,730	$28,551	$333,281
SCOTT MEE	PROGRAM MANAGER	14.00	Highest	$128,369	$6,418	$134,787
JENNIFER FRYE	PROGRAM MANAGER	40.00	Highest	$132,563	$6,628	$139,191

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	$4,600,511	$4,561,763	$1,280,611	$38,748
2023	$4,650,631	$4,347,436	$1,397,982	$303,195
2022	$3,164,974	$2,996,819	$1,135,301	$168,155
2021	$1,003,489	$901,630	$468,489	$101,859
2020	$525,646	$622,102	$242,145	$-96,456