INDUSTRY UNIVERSITY RESEARCH CENTER INC (EIN 660497943) - 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

1992

Legal Domicile

Principal Officer

Ivan Lugo

Phone

7876713006

Tax Period

2023-01-01 to 2023-12-31

INDUSTRY UNIVERSITY RESEARCH CENTER INC, founded in 1992, is a small nonprofit in the Community Improvement sector that reported $244K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

To promote and catalyze effective collaboration among industry, academia and government to stimulate the development of knowledge base capabilities in our institutions, and workforce, promoting research & innovation in the biosciences. Positioning Puerto Rico as a global best practice location of choice for new business opportunities in the biopharmaceutical, Medical Device, and Agbio sectors.

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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 $187,500

Program Service Revenue $53,948

Investment Income $384

Other Revenue $2,040

TOTAL REVENUE $243,872

Expense Breakdown

Grants Paid $0

Salaries & Benefits $220,585

Fundraising Expenses $0

Program Expenses $17,137

Other Expenses $34,368

TOTAL EXPENSES $254,953

Year-over-Year Comparison

	2023	2022	Change
Revenue	$243,872	$224,174	+0.1%
Expenses	$254,953	$244,388	+0.0%
Net Income	$-11,081	$-20,214	-0.5%

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

$132,470

Total Directors

$132,470

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ivan Lugo	Executive Director	40	Officer Director	$132,470	$0	$132,470
Rafael Defendini	President of the Board	3	Director	$0	$0	$0
Luis A Ferrao MD	Vice President of the Board	3	Director	$0	$0	$0
Danaise Carrion	Secretary of the Board	3	Director	$0	$0	$0
Gustavo Hermida	Treasurer of the Board	3	Director	$0	$0	$0
Lucy Crespo	Director	3	Director	$0	$0	$0
Manuel Cidre	Director	3	Director	$0	$0	$0
Wanda Maldonado	Director	3	Director	$0	$0	$0
Israel Cotto	Director	3	Director	$0	$0	$0
Peter Melendez	Director	3	Director	$0	$0	$0
Damaso Bermudez	Director	3	Director	$0	$0	$0
Pablo Hernandez	Director	3	Director	$0	$0	$0
Carlos Ceinos	Director	3	Director	$0	$0	$0
Lilliam Rodriguez	Director	3	Director	$0	$0	$0
Ana Martorel Perez	Director	3	Director	$0	$0	$0
Miguel Pereira	Director	3	Director	$0	$0	$0
Juan Leonardo Negron	Director	3	Director	$0	$0	$0
Shelly Cruz	Director	3	Director	$0	$0	$0
Fernando Lodono	Director	3	Director	$0	$0	$0
Carlos Gierbolini	Director	3	Director	$0	$0	$0
Elizabeth Plaza	Director	3	Director	$0	$0	$0
Alejandro Toro	Past President of the Board	3		$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	$243,872	$254,953	$227,277	$-11,081
2022	$224,174	$244,388	$45,736	$-20,214
2021	$247,484	$257,003	$57,769	$-9,519
2020	$220,308	$245,527	$69,454	$-25,219

INDUSTRY UNIVERSITY RESEARCH CENTER INC