CARNEGIE INSTITUTION OF WASHINGTON (EIN 530196523) - 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

1904

Legal Domicile

Principal Officer

DR JOHN MULCHAEY

Phone

2023876400

Tax Period

2024-07-01 to 2025-06-30

CARNEGIE INSTITUTION OF WASHINGTON, founded in 1904, is a major nonprofit in the Science & Technology sector that reported $106.5M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Net assets of $1.1B represent 121 months of operating reserves.

Mission

FIRST-CLASS TRAVEL COACH OR ECONOMY CLASS TRAVEL IS THE STANDARD FOR ALL BUSINESS TRAVEL; HOWEVER, THERE ARE CIRCUMSTANCES WHERE BUSINESS CLASS OR PREMIUM CLASS TRAVEL IS PERMITTED ONLY WITH PRE-APPROVAL. THE ORGANIZATION FOLLOWS ITS ACCOUNTABLE PLAN FOR ALL BUSINESS TRAVEL. HOUSING ALLOWANCE CARNEGIE'S POLICIES INCLUDE A PROVISION FOR HOUSING SUBSIDIES IN HIGH-COST AREAS FOR QUALIFYING STAFF MEMBERS. SIX STAFF MEMBERS QUALIFY FOR THE HOUSING ALLOWANCE. THESE BENEFITS ARE TREATED AS TAXABLE COMPENSATION AND INCLUDED ON THE STAFF MEMBER'S FORM W-2.

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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 $15,855,216

Program Service Revenue $12,305,423

Investment Income $77,999,962

Other Revenue $383,469

TOTAL REVENUE $106,544,070

Expense Breakdown

Grants Paid $1,371,719

Salaries & Benefits $65,587,711

Fundraising Expenses $2,785,896

Program Expenses $85,354,985

Other Expenses $44,979,226

TOTAL EXPENSES $112,285,627

Year-over-Year Comparison

	2024	2023	Change
Revenue	$106,544,070	$85,558,236	+0.2%
Expenses	$112,285,627	$113,980,117	0.0%
Net Income	$-5,741,557	$-28,421,881	-0.8%

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

488

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

$2,478,119

Total Directors

$123,683

Key Employees

$440,672

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG R BARRETT	CHAIRMAN	6.00	Officer Director	$0	$0	$0
DAVID THOMPSON	VICE CHAIRMAN	6.00	Officer Director	$0	$0	$0
ANNE BONAPARTE	TRUSTEE	1.00	Director	$0	$0	$0
SUZANNE BRENNER	TRUSTEE (BEG (4/25)	1.00	Director	$0	$0	$0
JOHN F CRAWFORD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL A DUFFY	TRUSTEE	2.00	Director	$0	$0	$0
SANDRA M FABER	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN PA FODOR	TRUSTEE (THRU 5/25)	1.00	Director	$0	$0	$0
RUSH D HOLT JR	TRUSTEE (THRU 5/25)	1.00	Director	$0	$0	$0
TOM KORZENECKI	TRUSTEE	2.00	Director	$0	$0	$0
KATHERINE LAPP	TRUSTEE (THRU 5/25)	1.00	Director	$0	$0	$0
MICHAEL LONG	TRUSTEE	1.00	Director	$0	$0	$0
MARY E MAXON	TRUSTEE & SENIOR VICE PRESIDENT	41.00	Director	$110,275	$13,408	$123,683
CHRISTINE M MCCARTHY	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN QUAKE	TRUSTEE	1.00	Director	$0	$0	$0
RAY ROTHROCK	TRUSTEE	1.00	Director	$0	$0	$0
CRISTIAN SAMPER	TRUSTEE	1.00	Director	$0	$0	$0
DAVID SPERGEL	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTOPHER TS STONE	TRUSTEE	1.00	Director	$0	$0	$0
MARSHALL WAIS	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL WILSON	TRUSTEE	1.00	Director	$0	$0	$0
JOHN S MULCHAEY - PRESIDENT	(BEG 10/24); DIV DIR (THRU 10/24)	41.00	Officer	$461,399	$75,379	$536,778
BENJAMIN J ADERSON	GENERAL COUNSEL & SECRETARY	40.00	Officer	$369,357	$66,966	$436,323
DR ERIC D ISAACS	PRESIDENT (THRU 12/24)	40.00	Officer	$879,169	$98,832	$978,001
RANDY STRINGER	INTERIM CFO & TREASURER (BEG 4/25)	40.00	Officer	$0	$0	$0
MAISHA WILLIAMS	CHIEF FINANCIAL OFFICER (THRU 4/25)	40.00	Officer	$462,441	$64,576	$527,017
MICHAEL WALTER	DIVISION DIRECTOR	40.00	Key Emp	$341,872	$98,800	$440,672
MICHAEL STAMBAUGH	CHIEF INVESTMENT OFFICER	40.00	Highest	$953,591	$63,665	$1,017,256
EDWARD LAMADE	INVESTMENT DIRECTOR	40.00	Highest	$536,812	$88,855	$625,667
REBECCA BERNSTEIN	SCIENTIFIC STAFF MEMBER	40.00	Highest	$311,880	$66,285	$378,165
JEFFREY DUKES	SCIENTIFIC STAFF MEMBER	40.00	Highest	$246,115	$75,578	$321,693
WILLIAM FAHEY	SCIENTIFIC STAFF MEMBER	40.00	Highest	$313,838	$83,741	$397,579
MARGARET MCFALL-NGAI	DIVISION DIRECTOR	40.00		$320,243	$75,548	$395,791
ANNA M MICHALAK	DEPARTMENT DIRECTOR	40.00		$326,209	$90,409	$416,618
YIXIAN ZHENG	DIVISION DIRECTOR	40.00		$322,988	$65,061	$388,049
ZHIYONG WANG	ACTING DIRECTOR & SNR STF SCI	40.00		$247,919	$58,601	$306,520

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	$106,544,070	$112,285,627	$1,340,795,229	$-5,741,557
2024	$85,558,236	$113,980,117	$1,316,876,813	$-28,421,881
2023	$129,092,421	$110,650,959	$1,306,902,993	$18,441,462
2022	$164,744,772	$98,417,818	$1,305,606,009	$66,326,954
2021	$127,997,936	$92,955,434	$1,453,446,708	$35,042,502
2020	$73,959,417	$93,995,644	$1,261,312,947	$-20,036,227
2019	$137,841,470	$96,120,041	$1,206,419,667	$41,721,429
2018	$90,205,505	$97,937,551	$1,239,346,085	$-7,732,046

CARNEGIE INSTITUTION OF WASHINGTON