NORTH FLORIDA FOUNDATION FOR RESEARCH AND EDUCATION INC (EIN 593432918) - 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

1997

Legal Domicile

Principal Officer

TERESA A SMITH

Phone

3525486000

Tax Period

2022-10-01 to 2023-09-30

NORTH FLORIDA FOUNDATION FOR RESEARCH AND EDUCATION INC, founded in 1997, is a community nonprofit in the Medical Research sector that reported $1.6M in total revenue in fiscal year 2022. The organization ran a surplus of $281K, a strong 18% operating margin.

Mission

NFFRE FACILITATES MEDICAL RESEARCH AND EDUCATION PROJECTS AT THE NORTH FLORIDA/SOUTH GEORGIA VETERANS HEALTH SYSTEM (VA) UNDER THE AUTHORITY OF TITLE 38 USC SECTIONS 7361-7366.

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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 $24,146

Program Service Revenue $1,471,794

Investment Income $54,759

Other Revenue $1,038

TOTAL REVENUE $1,551,737

Expense Breakdown

Grants Paid $0

Salaries & Benefits $919,076

Fundraising Expenses $0

Program Expenses $1,033,862

Other Expenses $351,440

TOTAL EXPENSES $1,270,516

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,551,737	$1,470,101	+0.1%
Expenses	$1,270,516	$1,450,635	-0.1%
Net Income	$281,221	$19,466	+13.4%

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

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

$669,587

Total Directors

$2,131,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VINCENT A DEGENNARO	DIRECTOR	10.00	Director	$0	$0	$375,944
ILONA M SCHMALFUSS	SECRETARY/TR	10.00	Officer Director	$0	$0	$362,972
CARSTEN M SCHMALFUSS	DIRECTOR	10.00	Director	$0	$0	$349,541
PERUVEMBA S SRIRAM	DIRECTOR	10.00	Director	$0	$0	$318,087
LAURENCE C HOOD	STATUTORY DI	10.00	Director	$0	$0	$239,861
MICHAEL R BUBB	DIRECTOR	10.00	Director	$0	$0	$202,686
WENDE DOTTOR	PRESIDENT &	10.00	Officer Director	$0	$0	$169,063
TERESA A SMITH	EXECUTIVE DI	40.00	Officer	$137,552	$0	$137,552
JOSHUA F YARROW	DIRECTOR	10.00	Director	$0	$0	$113,246
TIFFANI MICKENS	DIRECTOR	10.00	Director	$0	$0	$0
TIMOTHY SETTLE	DIRECTOR	10.00	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	No data	No data	No data	No data
2023	$1,551,737	$1,270,516	$3,452,107	$281,221
2022	$1,470,101	$1,450,635	$3,236,731	$19,466
2021	$2,070,033	$1,292,894	$3,171,060	$777,139
2020	$1,734,550	$1,206,658	$2,755,252	$527,892
2019	$1,515,952	$1,216,449	$1,675,294	$299,503
2018	$1,572,574	$878,183	$1,417,903	$694,391
2018	$1,825,613	$1,131,222	$1,417,903	$694,391

NORTH FLORIDA FOUNDATION FOR RESEARCH AND EDUCATION INC