Fermi Research Alliance LLC (EIN 571239010) - 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

2006

Legal Domicile

Phone

6308408976

Tax Period

2023-10-01 to 2024-09-30

Fermi Research Alliance LLC, founded in 2006, is a major nonprofit in the Science & Technology sector that reported $416.7M in total revenue in fiscal year 2017.

Mission

FRA LLC's purpose is the management and operation of Fermilab, an international scientific user facility owned by the US Department of Energy at which the fundamental nature of matter and energy is studied.

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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 $713,767,906

Program Service Revenue $0

Investment Income $3,006

Other Revenue $1,728,955

TOTAL REVENUE $715,499,867

Expense Breakdown

Grants Paid $277,569

Salaries & Benefits $266,863,912

Fundraising Expenses $0

Program Expenses $708,323,297

Other Expenses $448,450,868

TOTAL EXPENSES $715,592,349

Year-over-Year Comparison

	2023	2022	Change
Revenue	$715,499,867	$658,749,338	+0.1%
Expenses	$715,592,349	$658,194,829	+0.1%
Net Income	$-92,482	$554,509	-1.2%

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

2264

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

$1,362,134

Total Directors

$3,414,637

Key Employees

$3,426,424

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrea Meloni	Director	2.0	Director	$0	$0	$0
David Mark	Director	2.0	Director	$0	$0	$0
Hardik Bhatt	Director	2.0	Director	$0	$0	$0
Henry Bartoli	Director	2.0	Director	$0	$0	$0
Jack Anderson	Director	2.0	Director	$0	$0	$0
Jimmy Samartzis	Director	2.0	Director	$0	$0	$0
John Mester	URA President	2.0	Director	$0	$72,624	$565,851
John Womersley	Director Through 01/05/2024	2.0	Director	$0	$0	$0
Joseph Incandela	Director	2.0	Director	$0	$0	$0
Juan de Pablo	Director Through 9/16/2024	2.0	Director	$0	$65,839	$949,250
Maxine Savitz	Director	2.0	Director	$0	$0	$0
Paul Alivisatos	Chairman	2.0	Director	$0	$48,681	$1,899,536
Randy Hultgren	Director	2.0	Director	$0	$0	$0
Rolf Heuer	Director	2.0	Director	$0	$0	$0
Satyan Pitroda	Director	2.0	Director	$0	$0	$0
William H Joyce	Vice Chairman	1.0	Director	$0	$0	$0
Beth Fancsali	Interim General Counsel and FRA Secretary	40.0	Officer	$253,090	$37,609	$290,699
FABI Delgado	FINANCIAL OFFICER	2.0	Officer	$0	$39,815	$351,786
Nikolitsa Lia Merminga	President	40.0	Officer	$698,657	$20,992	$719,649
Alexander Valishev	Associate Lab Director	40.0	Key Emp	$249,531	$62,599	$312,130
Bonnie Fleming	Deputy Director/Chief Research Officer	40.0	Key Emp	$496,917	$68,335	$565,252
Christopher Mossey	Deputy Lab Director for LBNF/DUNE-US THROUGH 04/18/2024	40.0	Key Emp	$375,313	$33,000	$408,313
Jon Bakken	Division Head	40.0	Key Emp	$242,002	$51,963	$293,965
Kevin Burkett	Head of Particle Physics Division	40.0	Key Emp	$246,186	$50,427	$296,613
Mark Jeffers	FESS Section Head	40.0	Key Emp	$237,608	$59,987	$297,595
Scott Tingey	Deputy Lab Director and COO through 12/30/2023	40.0	Key Emp	$494,794	$33,000	$527,794
Susan Simpkins	Chief Financial Officer Deputy through 3/16/2024	40.0	Key Emp	$259,901	$67,395	$327,296
Teresa Ann Nightengale	Fermilab CFO through 3/2/2024	40.0	Key Emp	$359,484	$37,982	$397,466
JOSEPH LYKKEN	Hd of Fermi Quantum Institute	40.0	Highest	$326,271	$57,496	$383,767
Martha Michels	Dir of Cont Assur & Perf Mgmt	40.0	Highest	$326,736	$44,773	$371,509
Richard Goffi	Director of Strategic Planning	40.0	Highest	$364,781	$70,524	$435,305
Richard P Stanek	SQMS Deputy Proj Director through 6/1/2024	40.0	Highest	$306,784	$58,563	$365,347
Stephen Gourlay	Division Head	40.0	Highest	$290,506	$26,445	$316,951
Alexander Romanenko	FORMER Chief Technology Officer	40.0		$240,761	$60,261	$301,022
Elizabeth Sexton-Kennedy	FORMER Chief Information Officer	40.0		$237,702	$36,026	$273,728
Gregory Bock	FORMER Deputy Chief of Research	40.0		$211,599	$47,387	$258,986
John Myer	Former General Counsel and Secretary through 4/29/2023	40.0		$174,037	$45,778	$219,815
Luciano Ristori	Former Chief Research Officer	40.0		$179,590	$43,079	$222,669
Marc Kaducak	FORMER ACTING PROJECT DIR FOR PIP-II	N/A		$105,799	$22,519	$128,318
Mary Jo E Lyke	FORMER FRA Senior Budget Manager	40.0		$184,302	$41,433	$225,735
NIGEL LOCKYER	FORMER PRESIDENT through 4/18/2023	0.0		$216,962	$18,563	$235,525
Patricia McBride	Former Particle Physics Division Head	40.0		$262,626	$9,456	$272,082
Ronald Ray	Former Mu2e Project Manager	40.0		$230,321	$45,688	$276,009
Sergey Belomestnykh	Former Chief Technology Officer	40.0		$263,379	$52,903	$316,282

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	No data	No data	No data	No data
2024	$715,499,867	$715,592,349	$18,880,484	$-92,482
2023	$658,749,338	$658,194,829	$14,532,147	$554,509
2022	$593,848,536	$591,229,941	$13,250,391	$2,618,595
2021	$577,062,640	$574,388,053	$13,763,706	$2,674,587
2020	$512,797,198	$510,031,928	$10,785,834	$2,765,270
2019	$478,201,204	$475,835,159	$8,704,566	$2,366,045
2018	$416,675,962	$414,367,753	$7,697,336	$2,308,209

Fermi Research Alliance LLC