USF RESEARCH FOUNDATION INC

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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

1989

Legal Domicile

Principal Officer

DR SYLVIA THOMAS

Phone

8139746171

Tax Period

2023-07-01 to 2024-06-30

USF RESEARCH FOUNDATION INC, founded in 1989, is a mid-sized nonprofit in the Education sector that reported $17.2M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $19.0M exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROMOTE, ENCOURAGE AND ENHANCE RESEARCH ACTIVITIES AT THE UNIVERSITY OF SOUTH FLORIDA.

Program Service Accomplishments

Program 1

Expenses: $10,759,336 Revenue: $9,681,552

THE RESEARCH FOUNDATION ASSISTS IN DEVELOPING HIGH-TECHNOLOGY BUSINESSES AND RESEARCH PARTNERSHIPS THAT BOOST THE ECONOMY AND CREATE HIGH-PAYING JOBS IN THE TAMPA BAY AREA BY DEVELOPING ITS USF...

THE RESEARCH FOUNDATION ASSISTS IN DEVELOPING HIGH-TECHNOLOGY BUSINESSES AND RESEARCH PARTNERSHIPS THAT BOOST THE ECONOMY AND CREATE HIGH-PAYING JOBS IN THE TAMPA BAY AREA BY DEVELOPING ITS USF RESEARCH PARK OF TAMPA BAY INTO A HUB FOR BIOTECHNOLOGY AND LIFE SCIENCES RESEARCH AND ENTREPRENEURSHIP.

Program 2

Expenses: $7,126,333 Revenue: $3,482,942

THE RESEARCH FOUNDATION PROVIDES A MECHANISM BY WHICH DISCOVERIES, INVENTIONS, PROCESSES AND WORK PRODUCTS OF USF FACULTY, STAFF AND STUDENTS CAN BE TRANSFERRED FROM THE UNIVERSITY LABORATORY TO...

THE RESEARCH FOUNDATION PROVIDES A MECHANISM BY WHICH DISCOVERIES, INVENTIONS, PROCESSES AND WORK PRODUCTS OF USF FACULTY, STAFF AND STUDENTS CAN BE TRANSFERRED FROM THE UNIVERSITY LABORATORY TO BENEFIT THE PUBLIC. INCOME IS ALLOCATED IN ACCORDANCE WITH USF POLICY ON INVENTIONS AND WORKS TO INVENTORS AND THEIR RESEARCH SUPPORT FUNDS, AND FOR DIRECT SUPPORT OF RESEARCH AT THE UNIVERSITY.

Program 3

Expenses: $165,168 Revenue: $357,021

THE RESEARCH FOUNDATION RECEIVES AND ADMINISTERS CERTAIN BASIC RESEARCH AND CLINICAL TRIAL CONTRACTS AND GRANTS SPONSORED BY THE PRIVATE SECTOR AND FOUNDATIONS. THE GRANT STUDIES ARE PERFORMED BY...

THE RESEARCH FOUNDATION RECEIVES AND ADMINISTERS CERTAIN BASIC RESEARCH AND CLINICAL TRIAL CONTRACTS AND GRANTS SPONSORED BY THE PRIVATE SECTOR AND FOUNDATIONS. THE GRANT STUDIES ARE PERFORMED BY UNIVERSITY FACULTY, STAFF AND STUDENTS.

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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 $13,521,515

Investment Income $3,694,795

Other Revenue $0

TOTAL REVENUE $17,216,310

Expense Breakdown

Grants Paid $4,315,316

Salaries & Benefits $170,756

Fundraising Expenses $0

Program Expenses $18,050,837

Other Expenses $14,524,872

TOTAL EXPENSES $19,010,944

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,216,310	$15,400,882	+0.1%
Expenses	$19,010,944	$16,547,619	+0.1%
Net Income	$-1,794,634	$-1,146,737	+0.6%

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

$1,597,433

Total Directors

$3,568,446

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SYLVIA THOMAS	PRESIDENT AND CEO	1.00	Officer Director	$0	$36,886	$331,758
JENNIFER CONDON	TREASURER (START 11/16/23)	1.00	Officer Director	$0	$36,097	$330,895
RICHARD SOBIERAY	TREASURER (LAST DATE 10/23/23)	1.00	Officer Director	$0	$36,071	$649,118
NORMA ALCANTAR	DIRECTOR (LAST DATE 9/07/23)	1.00	Director	$0	$21,462	$231,989
BEATRIZ BARE	DIRECTOR	1.00	Director	$0	$0	$0
ALISON BARLOW	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CROSS	DIRECTOR	1.00	Director	$0	$23,896	$102,490
JEFFREY HACKMAN	DIRECTOR	1.00	Director	$0	$0	$0
KAREN HOLBROOK	DIRECTOR	1.00	Director	$0	$26,698	$374,753
GITI JAVIDI	DIRECTOR (START 5/14/24)	1.00	Director	$0	$20,960	$221,741
CHARLES LOCKWOOD	DIRECTOR	1.00	Director	$0	$36,996	$678,913
GWEN MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
PRASANT MOHAPATRA	DIRECTOR	1.00	Director	$0	$49,730	$563,584
JOHN MORROW	DIRECTOR	1.00	Director	$0	$0	$0
LINDA OLSON	DIRECTOR	1.00	Director	$0	$0	$0
LAKSHMI SHENOY	DIRECTOR	1.00	Director	$0	$0	$0
HARRY VENEZIA	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA GAMBLE	CFO (LAST DATE 2/28/23)	40.00	Officer Director	$0	$4,142	$83,205
ALLISON MADDEN	SECRETARY	35.00	Officer	$0	$28,611	$202,457
MICHELLE HICKEY	DIRECTOR OF FINANCE (START 1/4/23)	40.00	Highest	$0	$18,444	$161,639
PAUL R SANBERG	FORMER PRESIDENT AND DIRECTOR (LAST DATE 1/18/21)	1.00		$0	$32,744	$284,508
KEITH ANDERSON	FORMER PRESIDENT AND DIRECTOR (LAST DATE 11/12/21)	1.00		$0	$20,957	$220,006

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	$17,216,310	$19,010,944	$187,774,384	$-1,794,634
2023	$15,400,882	$16,547,619	$176,683,554	$-1,146,737
2022	$18,012,252	$16,105,453	$184,984,000	$1,906,799
2021	$22,992,565	$11,770,347	$129,116,955	$11,222,218
2020	$14,807,395	$11,420,655	$96,563,873	$3,386,740
2018	$15,554,134	$11,707,460	$91,082,981	$3,846,674