SOUTHERN RESEARCH INSTITUTE (EIN 630288868) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1941

Legal Domicile

Principal Officer

ALAN SPEAR

Phone

2055812000

Tax Period

2024-01-01 to 2024-12-31

SOUTHERN RESEARCH INSTITUTE, founded in 1941, is a mid-sized nonprofit in the Science & Technology sector that reported $85.7M in total revenue in fiscal year 2021. Revenue decreased 7% compared to the prior year. Expenses of $77.1M left a modest 10% surplus.

Mission

TO OFFER RESEARCH & TECHNOLOGY SERVICES TO SUPPORT INDUSTRY AND FEDERAL GOVERNMENT AGENCIES. TO BE OPERATED FOR THE BENEFIT OF THE UNIVERSITY OF ALABAMA AT BIRMINGHAM.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,326,793

Program Service Revenue $30,295,807

Investment Income $4,318,137

Other Revenue $1,440,393

TOTAL REVENUE $50,381,130

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,783,624

Fundraising Expenses $0

Program Expenses $34,893,555

Other Expenses $25,046,532

TOTAL EXPENSES $49,830,156

Year-over-Year Comparison

	2024	2023	Change
Revenue	$50,381,130	$49,759,960	+0.0%
Expenses	$49,830,156	$55,964,770	-0.1%
Net Income	$550,974	$-6,204,810	-1.1%

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

267

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

$2,365,610

Total Directors

$3,272,888

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SID J TRANT	INTERIM DIRECTOR	1.00	Director	$0	$91,451	$900,706
ABISHEK KULSHRESHTHA	CHIEF BUSINESS OFFICER (THRU 3/24)	40.00	Director	$144,437	$4,669	$149,106
FINIS ST JOHN VI	DIRECTOR (THRU 4/24)	1.00	Director	$0	$51,413	$580,377
RAY WATTS	CHAIRMAN	1.00	Director	$0	$95,387	$809,164
CHRISTOPHER S BROWN PHD	DIRECTOR	1.00	Director	$0	$101,260	$525,178
ANUPAM AGARWAL	DIRECTOR	1.00	Director	$0	$61,356	$308,357
REGINA BENJAMIN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BROCK	DIRECTOR	1.00	Director	$0	$0	$0
BOBBIE KNIGHT	DIRECTOR	1.00	Director	$0	$0	$0
JAMEY MCMAHON	DIRECTOR	1.00	Director	$0	$0	$0
GENE RUFFNER PAGE JR	VICE CHAIRMAN	1.00	Director	$0	$0	$0
JEFFREY PEOPLES	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT PHELPS	DIRECTOR	1.00	Director	$0	$0	$0
KEN SIMON	DIRECTOR	1.00	Director	$0	$0	$0
LEE STYSLINGER III	DIRECTOR	1.00	Director	$0	$0	$0
NEEL VARSHNEY	DIRECTOR	1.00	Director	$0	$0	$0
JOSHUA CARPENTER	PRESIDENT AND CEO (THRU 12/24)	40.00	Officer	$412,848	$32,413	$445,261
CORRINE AUGELLI-SZAFRAN	VP SCIENTIFIC PLATFORMS	40.00	Officer	$291,552	$4,826	$296,378
DAVID RUTLEDGE	SENIOR ADVISOR OF FINANCE	40.00	Officer	$253,474	$32,634	$286,108
MONICA W MASON	INTERIM VP CRO SERVICES	40.00	Officer	$238,113	$41,238	$279,351
RICARDO BRITO	CHIEF OF STAFF	40.00	Officer	$187,879	$13,918	$201,797
HARRY LEDEBUR JR	CHIEF OPERATING OFFICER	40.00	Officer	$232,271	$30,500	$262,771
ANNA BRANTLEY FRY	VP OF PEOPLE AND COMMUNITY (THRU 6/24)	40.00	Officer	$211,854	$19,615	$231,469
RAY COLEMAN LOPER	INTERIM CEO & CFO	32.00	Officer	$104,434	$116	$104,550
LESTER SMITH JR	CHIEF FINANCIAL OFFICER (THRU 6/24)	40.00	Officer	$227,390	$30,535	$257,925
OLIVER HAMPTON	CHIEF DATA OFFICER	40.00	Highest	$383,042	$33,700	$416,742
KHALILAH BROWN	CHIEF MEDICAL OFFICER	40.00	Highest	$247,279	$39,834	$287,113
MARIANNE P NURRE	SR. CONTROLLER	40.00	Highest	$201,521	$31,547	$233,068
JENNIFER PICKENS	DIRECTOR OF INFECTIOUS DISEASE	40.00	Highest	$194,308	$28,552	$222,860
FUSATAKA KOIDE	DIRECTOR OF BUSINESS DEVELOPMENT	40.00	Highest	$241,585	$34,283	$275,868

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	$50,381,130	$49,830,156	$238,738,191	$550,974
2023	$49,759,960	$55,964,770	$242,110,174	$-6,204,810
2022	$149,651,608	$57,118,873	$211,179,645	$92,532,735
2021	$85,654,710	$77,111,881	$124,270,036	$8,542,829

SOUTHERN RESEARCH INSTITUTE