GEORGIA TECH APPLIED RESEARCH CORPORATION (EIN 582374837) - 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

1998

Legal Domicile

Principal Officer

ROBERT FOY

Phone

4048944819

Tax Period

2024-07-01 to 2025-06-30

GEORGIA TECH APPLIED RESEARCH CORPORATION, founded in 1998, is a major nonprofit in the Health Care sector that reported $985.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE GEORGIA TECH APPLIED RESEARCH CORPORATION (GTARC) IS TO PROVIDE EFFICIENT AND EFFECTIVE CONTRACTING, GRANT, AND RESEARCH ADMINISTRATION SERVICES FOR THE GEORGIA TECH RESEARCH INSTITUTE (GTRI), A NON-PROFIT RESEARCH ARM OF THE GEORGIA INSTITUTE OF TECHNOLOGY. GTARC PROVIDES BUSINESS MANAGEMENT SERVICES FOR GTRI AS IT CONDUCTS FOCUSED PROGRAMS OF INNOVATIVE RESEARCH, TECHNICAL ASSISTANCE, AND ECONOMIC DEVELOPMENT THAT ADVANCE THE GLOBAL COMPETITIVENESS OF GEORGIA, THE SOUTHEAST REGION, AND THE NATION. GTARC SERVES AS THE SOLE CONTRACTING ENTITY FOR GTRI.

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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 $0

Program Service Revenue $973,407,375

Investment Income $4,394,105

Other Revenue $7,959,192

TOTAL REVENUE $985,760,672

Expense Breakdown

Grants Paid $10,060,430

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $981,109,252

Other Expenses $977,891,232

TOTAL EXPENSES $987,951,662

Year-over-Year Comparison

	2024	2023	Change
Revenue	$985,760,672	$903,257,158	+0.1%
Expenses	$987,951,662	$907,100,849	+0.1%
Net Income	$-2,190,990	$-3,843,691	-0.4%

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

N/A

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

$5,841,857

Total Directors

$1,822,558

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHAOUKI ABDALLAH	PRESIDENT (THRU 09/24)	1.00	Officer Director	$0	$70,368	$471,736
TIM LIEUWEN	PRESIDENT (FROM 09/24)	1.00	Officer Director	$0	$66,752	$430,347
ROBIN BIENFAIT	TRUSTEE	0.50	Director	$0	$0	$0
SHANTAY BOLTON	TRUSTEE	1.00	Director	$0	$63,574	$564,359
SCOTT FOUSE	TRUSTEE	0.50	Director	$0	$0	$0
SCOTT FRANK	TRUSTEE	0.50	Director	$0	$0	$0
R STEVEN JUSTICE	TRUSTEE (FROM 09/24)	0.50	Director	$0	$0	$0
PATRICK KELLY	TRUSTEE	0.50	Director	$0	$0	$0
TROY LITTLES	TRUSTEE	1.00	Director	$0	$32,406	$356,116
KENNETH MASSARONI	TRUSTEE	0.50	Director	$0	$0	$0
LING-LING NIE	TRUSTEE	0.50	Director	$0	$0	$0
LESLIE SIBERT	TRUSTEE	0.50	Director	$0	$0	$0
REBECCA WEIRICK	TRUSTEE	0.50	Director	$0	$0	$0
EARL WYATT	TRUSTEE	0.50	Director	$0	$0	$0
ROBERT FOY	GENERAL MANAGER	20.00	Officer	$0	$68,625	$285,524
CYNTHIA HOPE	VP AND ASST. SECRETARY (THRU 08/24)	40.00	Officer	$0	$23,375	$220,335
JAMES HUDGENS	SECRETARY	1.00	Officer	$0	$67,379	$685,302
ALBERT CONCORD	FACILITY SECURITY OFFICER	1.00	Officer	$0	$45,788	$257,679
NEIL VITRO	ASST SEC AND ASST. TREAS.	20.00	Officer	$0	$55,113	$227,810
BRUCE HENRY	ASST SEC AND ASST. TREAS.	1.00	Officer	$0	$54,088	$192,955
ROBERT BUTERA	ASST SEC. (FROM 11/24)	1.00	Officer	$0	$68,449	$402,132
VANNESSA DANIELS	ASST SEC.	1.00	Officer	$0	$25,321	$203,215
JARRETT ELLIS	ASST. SEC.	1.00	Officer	$0	$35,544	$215,523
SOPHIA HERBERT-PETERSON	ASST SEC.	1.00	Officer	$0	$50,487	$264,504
J ANDREW HOWARD	ASST SEC.	20.00	Officer	$0	$21,107	$122,374
TANESHA STEWARD	ASST SEC. (THRU 11/24)	1.00	Officer	$0	$50,218	$181,935
SHANNON MCGHEE	ASST SEC. (FROM 11/24)	1.00	Officer	$0	$13,195	$60,124
MARK MILITELLO	ASST TREASURER (FROM 11/24)	1.00	Officer	$0	$56,470	$276,104
JAMES FORTNER	ASST SEC AND ASST. TREAS.	1.00	Officer	$0	$86,039	$391,027
ROMY SMITH	ASST SEC	1.00	Officer	$0	$64,901	$282,444
KIM TOATLEY	TREASURER	1.00	Officer	$0	$11,037	$281,549
ROBERTA BURKE	ASST SEC	1.00	Officer	$0	$21,162	$227,960
JOSEPH TESORIERO	ASST TREASURER (FROM 11/24)	1.00	Officer	$0	$27,477	$161,278

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	$985,760,672	$987,951,662	$443,441,143	$-2,190,990
2024	No data	No data	No data	No data
2023	$832,626,634	$823,570,080	$355,628,608	$9,056,554
2022	$705,926,938	$684,464,528	$314,724,771	$21,462,410
2021	$634,160,368	$623,644,120	$189,895,321	$10,516,248
2020	$564,463,170	$556,343,952	$163,481,668	$8,119,218
2019	$490,735,434	$483,572,717	$131,959,517	$7,162,717
2018	$428,255,526	$424,112,124	$115,156,357	$4,143,402

GEORGIA TECH APPLIED RESEARCH CORPORATION