MARSHALL UNIVERSITY RESEARCH CORPO… - Form 990 Financial Data

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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

1987

Legal Domicile

Phone

3046962829

Tax Period

2022-07-01 to 2023-06-30

MARSHALL UNIVERSITY RESEARCH CORPORATION, founded in 1987, is a mid-sized nonprofit in the Community Improvement sector that reported $61.6M in total revenue in fiscal year 2022. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

Charitable education and scientific research

Program Service Accomplishments

Program 1

Expenses: $57,260,055 Revenue: $61,567,325

Marshall University Research Corporation operates for charitable education and scientific purposes to foster, support, and participate in research and economic development activities in the...

Marshall University Research Corporation operates for charitable education and scientific purposes to foster, support, and participate in research and economic development activities in the furtherance of the educational objectives and mission of Marshall University.

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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 (2022)

Revenue Breakdown

Contributions & Grants $53,073,293

Program Service Revenue $0

Investment Income $2,939,809

Other Revenue $5,554,223

TOTAL REVENUE $61,567,325

Expense Breakdown

Grants Paid $1,514,164

Salaries & Benefits $31,709,280

Fundraising Expenses $464,687

Program Expenses $57,260,055

Other Expenses $27,658,200

TOTAL EXPENSES $60,881,644

Year-over-Year Comparison

	2022	2021	Change
Revenue	$61,567,325	$55,976,007	+0.1%
Expenses	$60,881,644	$55,779,707	+0.1%
Net Income	$685,681	$196,300	+2.5%

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

771

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

$1,912,472

Total Directors

$3,964,100

Key Employees

$388,514

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brad Smith	Chair	0	Officer Director	$0	$517,127	$1,034,254
Avi Mukherjee	Vice Chair	0	Officer Director	$0	$321,838	$643,676
David Dampier	Board Member	0	Director	$0	$267,441	$534,882
John Maher	Board Member	0	Director	$0	$240,994	$481,988
Robert Plymale	Associate VP for Economic Dev	37.5	Highest	$204,631	$204,631	$409,262
Charlotte Weber	Board Member	37.5	Director Key Emp Highest	$73,640	$194,257	$388,514
Brandi Jacob-Jones	Board Member	0	Director	$0	$194,256	$388,512
Andrew Nichols	Research Professor	37.5	Highest	$127,609	$127,609	$255,218
Toney Stroud	Secretary	0	Officer Director	$0	$117,271	$234,542
Michael Castellani	Board Member	0	Director	$0	$99,082	$198,164
Matt Tidd	Board Member	0	Director	$0	$29,784	$59,568
Beth Hammers	Board Member	0	Director	$0	$0	$0
Chris Plybon	Board Member	0	Director	$0	$0	$0
Thomas L Craig	Board Member	0	Director	$0	$0	$0
John Hess	Board Member	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$61,567,325	$60,881,644	$69,950,636	$685,681
2022	$55,976,007	$55,779,707	$66,524,780	$196,300
2021	$55,595,334	$47,675,471	$66,297,155	$7,919,863
2020	$41,051,738	$44,351,236	$56,401,232	$-3,299,498
2019	$35,572,518	$38,047,343	$51,974,196	$-2,474,825
2018	$33,895,776	$37,742,982	$53,962,761	$-3,847,206

MARSHALL UNIVERSITY RESEARCH CORPORATION