Research Triangle Foundation of NC

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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

1956

Legal Domicile

Principal Officer

SCOTT LEVITAN

Phone

9195498181

Tax Period

2023-10-01 to 2024-09-30

Research Triangle Foundation of NC, founded in 1956, is a mid-sized nonprofit that reported $16.7M in total revenue in fiscal year 2023. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $23.5M exceeded revenue, resulting in a 41% operating deficit.

Mission

TO PROMOTE UNIVERSITY, ACADEMIC, INDUSTRY AND GOVERNMENT COLLABORATIONS LEADING TO THE ESTABLISHMENT AND MAINTENANCE OF RESEARCH, SCIENTIFIC AND TECHNOLOGY-BASED FACILITIES WITHIN THE RESEARCH TRIANGLE AND NORTH CAROLINA, CREATING QUALITY JOBS AND OPPORTUNITIES FOR ITS CITIZENS.

Program Service Accomplishments

Program 1

Expenses: $11,393,101 Revenue: $12,225,414

PROVIDE FOR THE UPKEEP OF RTP ASSETS AND INFRASTRUCTURE TO ENHANCE THE PARK'S REPUTATION AS AN INNOVATIVE AND DYNAMIC ENVIRONMENT AND TO PROMOTE AND FOSTER RESEARCH FACILITIES IN THE 7,000 ACRE...

PROVIDE FOR THE UPKEEP OF RTP ASSETS AND INFRASTRUCTURE TO ENHANCE THE PARK'S REPUTATION AS AN INNOVATIVE AND DYNAMIC ENVIRONMENT AND TO PROMOTE AND FOSTER RESEARCH FACILITIES IN THE 7,000 ACRE RESEARCH TRIANGLE PARK.

Program 2

Expenses: $5,560,190 Revenue: $95,450

PROVIDE FOR THE PROMOTION OF PROGRAMS FOR THE RTP COMMUNITY AND TRIANGLE REGION.

Program 3

Expenses: $1,878,276 Revenue: $120,000

PARK CENTER 100 ACRES REDEVELOPMENT PROVIDES INNOVATORS TO COME TOGETHER TO BE INSPIRED, PROVIDE A PLACE FOR LEADERS IN TECHNOLOGY, SCIENCE, THE ARTS AND THE HUMANITIES TO COLLABORATE AND CREATE JOBS AND A BETTER FUTURE FOR ALL NORTH CAROLINIANS. THE DEVELOPMENT INCLUDES RETAIL, RESIDENTIAL AND OFFICE AMENITIES WITH A PLETHORA OF PUBLIC PARKS AND SPACE THAT WILL BE USED BY ENTREPRENEURS AND NORTH CAROLINIANS.

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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 $0

Program Service Revenue $12,440,864

Investment Income $4,213,755

Other Revenue $67,600

TOTAL REVENUE $16,722,219

Expense Breakdown

Grants Paid $1,450

Salaries & Benefits $5,191,696

Fundraising Expenses $0

Program Expenses $19,538,892

Other Expenses $18,351,003

TOTAL EXPENSES $23,544,149

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,722,219	$31,833,503	-0.5%
Expenses	$23,544,149	$21,839,701	+0.1%
Net Income	$-6,821,930	$9,993,802	-1.7%

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

$1,698,335

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT LEVITAN	PRESIDENT & CEO	40.0	Officer	$606,947	$75,132	$682,079
LINDA K HALL	EVP & COO (THRU 4/15/2024)	40.0	Officer	$444,892	$60,666	$505,558
CAROLYN COIA	VP REAL ESTATE	40.0	Officer	$241,855	$30,478	$272,333
JESSICA WISNIEWSKI	VP FINANCE & ADMINISTRATION	40.0	Officer	$194,178	$44,187	$238,365
AMANDA RONAN	SENIOR DIRECTOR PLACEMAKING	40.0	Highest	$124,819	$36,841	$161,660
DAVID WIEAND	ACCOUNTING MANAGER	40.0	Highest	$115,953	$25,887	$141,840
TRAVIS CRAYTON	VP PLANNING & PUBLIC POLICY	40.0	Highest	$124,488	$13,828	$138,316
KEVIN PATTERSON	DIRECTOR OF IT	40.0	Highest	$100,942	$25,356	$126,298
RAYMOND TRAPP	FORMER OFFICER	0.0		$102,245	$14,678	$116,923
BARBARA MULKEY	CHAIRMAN	1.0	Officer Director	$0	$0	$0
BRAD WILSON	VICE CHAIR	1.0	Officer Director	$0	$0	$0
ANITA BROWN-GRAHAM	SECRETARY	1.0	Officer Director	$0	$0	$0
HUGH ALLEN	DIRECTOR	1.0	Director	$0	$0	$0
FARAD ALI	DIRECTOR	1.0	Director	$0	$0	$0
BROOKS BELL	DIRECTOR	1.0	Director	$0	$0	$0
JUD BOWMAN	DIRECTOR	1.0	Director	$0	$0	$0
JOHN CECIL	DIRECTOR	1.0	Director	$0	$0	$0
DANIEL ENNIS	DIRECTOR	1.0	Director	$0	$0	$0
CHARLES FRANCIS	DIRECTOR	1.0	Director	$0	$0	$0
TIM GABEL	DIRECTOR	1.0	Director	$0	$0	$0
PETER HANS	DIRECTOR	1.0	Director	$0	$0	$0
GREG LUBERECKI	DIRECTOR	1.0	Director	$0	$0	$0
HOWARD NYE	DIRECTOR	1.0	Director	$0	$0	$0
DR VINCENT PRICE	DIRECTOR	1.0	Director	$0	$0	$0
LEE ROBERTS	DIRECTOR	1.0	Director	$0	$0	$0
DR RANDY WOODSON	DIRECTOR	1.0	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	$16,722,219	$23,544,149	$216,643,585	$-6,821,930
2023	$31,833,503	$21,839,701	$214,113,009	$9,993,802
2022	$10,751,923	$18,434,190	$218,750,320	$-7,682,267
2021	$40,089,804	$16,076,399	$210,917,305	$24,013,405
2020	$10,270,019	$14,393,450	$157,094,705	$-4,123,431
2019	$18,080,631	$2,980,876	$141,832,524	$15,099,755
2018	$7,847,826	$4,935,364	$102,258,489	$2,912,462