CNA CORPORATION

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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

1942

Legal Domicile

Principal Officer

KATHERINE MCGRADY

Phone

7038242000

Tax Period

2023-10-01 to 2024-09-30

CNA CORPORATION, founded in 1942, is a major nonprofit that reported $151.7M in total revenue in fiscal year 2023.

Mission

CNA IS A NON-PROFIT RESEARCH ORGANIZATION THAT OPERATES THE CENTER FOR NAVAL ANALYSES, A FEDERALLY FUNDED RESEARCH CENTER THAT HAS SUPPORTED THE NAVY AND MARINE CORPS FOR NEARLY SEVENTY YEARS, AND THE INSTITUTE FOR PUBLIC RESEARCH THAT PROVIDES SUPPORT TO A BROAD RANGE OF GOVERNMENT CLIENTS IN EDUCATION, HEALTH CARE AND PUBLIC HEALTH, HOMELAND SECURITY, HUMAN CAPITAL MANAGEMENT AND AIR TRAFFIC MANAGEMENT. CNA SPECIALIZES IN OBJECTIVE, EMPIRICAL RESEARCH AND ANALYSIS TO HELP DECISION MAKERS DEVELOP SOUND POLICIES, MAKE BETTER-INFORMED DECISIONS, AND MANAGE PROGRAMS MORE EFFECTIVELY.

Program Service Accomplishments

Program 1

Expenses: $36,079,063 Revenue: $0

THE OPERATIONAL WARFIGHTING (OPS) DIVISION FOCUSES ON IMPROVING THE ABILITY OF THE DEPARTMENT OF THE NAVY TO ORGANIZE, PLAN, TRAIN, AND EXECUTE AT THE OPERATIONAL LEVEL OF WARFARE. OPS ANALYSIS...

THE OPERATIONAL WARFIGHTING (OPS) DIVISION FOCUSES ON IMPROVING THE ABILITY OF THE DEPARTMENT OF THE NAVY TO ORGANIZE, PLAN, TRAIN, AND EXECUTE AT THE OPERATIONAL LEVEL OF WARFARE. OPS ANALYSIS TYPICALLY LINKS WARGAMING, CONCEPT DEVELOPMENT, HYPOTHESIS TESTING, AND EXERCISE AND OPERATIONAL ASSESSMENT INTO AN ITERATIVE CYCLE. THE DIVISION'S RESEARCH EMPHASIZES NAVAL INTEGRATION, JOINT AND COMBINED OPERATIONS, CYBER EFFECTS, INTELLIGENCE SUPPORT AND SPECIAL OPERATIONS.

Program 2

Expenses: $34,340,009 Revenue: $0

SAFETY & SECURITY (SAS) PROVIDES ANALYSIS AND GUIDANCE TO SUPPORT EVOLVING STANDARDS AND PRACTICES AND GIVES RECOMMENDATIONS FOR IMPROVING DECISION-MAKING AT ALL LEVELS DURING CRISIS OPERATIONS. WE WORK WITH SENIOR DECISION-MAKERS IN FEDERAL, STATE, AND LOCAL AGENCIES AS WELL AS WITH MEMBERS OF THE HOMELAND SECURITY PROFESSIONAL COMMUNITY OF LAW ENFORCEMENT OFFICIALS, FIREFIGHTERS, PUBLIC HEALTH OFFICIALS, AND EMERGENCY MEDICAL PERSONNEL. WE CONSULT WITH EXPERTS AND OFFICIALS RESPONSIBLE FOR THE SECURITY ISSUES RELATED TO TRANSPORTATION AND TO NUCLEAR, CHEMICAL, AND BIOLOGICAL CONCERNS. AND WE WORK WITH SPECIALISTS IN THE AREAS OF INFRASTRUCTURE AND COMMUNICATIONS AT THE FEDERAL, REGIONAL, STATE, AND LOCAL LEVELS TO IMPROVE THE COORDINATION AND COOPERATION AMONG THESE DISPARATE DECISION-MAKERS.

Program 3

Expenses: $23,677,651 Revenue: $0

THE SYSTEMS, TACTICS AND FORCE DEVELOPMENT (STFD) DIVISION PROVIDES CLASSICAL WARFARE ANALYSES TO THE NAVY AND DOD FOCUSED ON SYSTEMS AND PLATFORMS AT THE TACTICAL LEVEL FOR GREAT POWER COMPETITION. STFD CONDUCTS QUANTITATIVE ANALYSES OF FLEET SYSTEMS AND MULTI-MISSION PLATFORMS TO DEVELOP PERFORMANCE ESTIMATES AGAINST CHINA, RUSSIA AND OTHER THREATS. THE DIVISION ANALYZES AND ASSESSES COMBINATIONS OF NETWORKS, SENSORS, WEAPONS, AND PLATFORMS TO PROVIDE MARITIME WARFIGHTING CAPABILITIES IN ALL WARFARE AREAS, UNDER REALISTIC CONDITIONS FOR CURRENT OPERATIONS AND FUTURE-FORCE ARCHITECTURES.

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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 $149,195,653

Program Service Revenue $0

Investment Income $2,538,638

Other Revenue $0

TOTAL REVENUE $151,734,291

Expense Breakdown

Grants Paid $0

Salaries & Benefits $110,356,943

Fundraising Expenses $0

Program Expenses $126,021,467

Other Expenses $39,460,968

TOTAL EXPENSES $149,817,911

Year-over-Year Comparison

	2023	2022	Change
Revenue	$151,734,291	$142,365,190	+0.1%
Expenses	$149,817,911	$140,546,799	+0.1%
Net Income	$1,916,380	$1,818,391	+0.1%

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

707

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

$1,530,249

Total Directors

$1,299,233

Key Employees

$2,154,136

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHERINE MCGRADY	PRESIDENT & CEO, TRUSTEE	40.0	Officer Director	$739,677	$73,368	$813,045
ANDREW MARA	EXECUTIVE VICE PRESIDENT	40.0	Key Emp	$459,329	$60,581	$519,910
TIMOTHY BERES	EXECUTIVE VICE PRESIDENT	40.0	Key Emp	$443,644	$36,657	$480,301
DAVID KAUFMAN	VICE PRESIDENT & DIRECTOR	40.0	Key Emp	$351,228	$67,643	$418,871
KIM DEAL	VP & CHIEF RESEARCH OFFICER	40.0	Highest	$358,281	$59,873	$418,154
ELISA SOTO	VP & CHIEF PEOPLE OFFICER	40.0	Highest	$361,413	$30,105	$391,518
JASON THOMAS	VICE PRESIDENT	40.0	Key Emp	$325,311	$63,121	$388,432
JASON MCNAMARA	SR DIR EMERGENCY MGMT PROGRAMS	40.0	Highest	$323,167	$64,256	$387,423
CHRISTINE PETERSON	EXEC. VP, CFO & TREASURER	40.0	Officer	$354,836	$26,496	$381,332
DAVID FINKELSTEIN	VICE PRESIDENT & DIRECTOR	40.0	Highest	$347,013	$29,458	$376,471
HALLEH SEYSON	VP & DIRECTOR	40.0	Highest	$336,724	$23,290	$360,014
JEFFERY PETERSON	EXECUTIVE VICE PRESIDENT	40.0	Key Emp	$322,481	$24,141	$346,622
MARK ROSEN	SVP, GEN COUNSEL & SECRETARY	40.0	Officer	$314,728	$21,144	$335,872
RODERICK K VON LIPSEY	TRUSTEE	3.0	Director	$54,500	$0	$54,500
WILLIAM R BURKE	TRUSTEE THRU 3/24	3.0	Director	$38,250	$0	$38,250
ROBERT R BLACKMAN	TRUSTEE THRU 12/23	3.0	Director	$38,250	$0	$38,250
PETER V NEFFENGER	TRUSTEE	3.0	Director	$36,000	$0	$36,000
AMB WANDA L NESBITT	TRUSTEE	3.0	Director	$36,000	$0	$36,000
MATHEW TRAVIS	TRUSTEE	3.0	Director	$36,000	$0	$36,000
MARY LOU LEARY	TRUSTEE	3.0	Director	$34,500	$0	$34,500
NADJA WEST	TRUSTEE	3.0	Director	$34,500	$0	$34,500
CRAIG S FALLER	TRUSTEE	3.0	Director	$34,500	$0	$34,500
LINDA PETRONE	TRUSTEE	3.0	Director	$32,500	$0	$32,500
DAVID C JOHNSON	TRUSTEE	3.0	Director	$32,250	$0	$32,250
ODEST CHADWICKE JENKINS	TRUSTEE	3.0	Director	$32,000	$0	$32,000
SARAH SEWALL	TRUSTEE	3.0	Director	$31,688	$0	$31,688
DENNIS A CRALL	TRUSTEE	3.0	Director	$15,250	$0	$15,250
WILLIAM R MERZ	TRUSTEE AS OF 1/24	3.0	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
2024	$151,734,291	$149,817,911	$160,722,981	$1,916,380
2023	$142,365,190	$140,546,799	$155,090,021	$1,818,391
2022	$137,975,909	$140,037,400	$75,493,999	$-2,061,491
2021	$141,834,502	$139,773,224	$84,909,196	$2,061,278
2020	$128,032,251	$128,465,632	$83,056,753	$-433,381
2019	$124,332,976	$123,385,470	$76,522,100	$947,506
2018	$123,804,324	$121,899,149	$73,165,884	$1,905,175