Palo Alto Veterans Institute for Research (EIN 770207331) - 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

1988

Legal Domicile

Principal Officer

Elaine Staats

Phone

6502392800

Tax Period

2023-10-01 to 2024-09-30

Palo Alto Veterans Institute for Research, founded in 1988, is a mid-sized nonprofit in the Medical Research sector that reported $31.6M in total revenue in fiscal year 2023.

Mission

Advancing veteran and public health through innovative research.

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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 $23,286,921

Program Service Revenue $7,728,039

Investment Income $602,254

Other Revenue $29,413

TOTAL REVENUE $31,646,627

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,983,304

Fundraising Expenses $0

Program Expenses $29,271,270

Other Expenses $15,371,897

TOTAL EXPENSES $34,355,201

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,646,627	$30,503,398	+0.0%
Expenses	$34,355,201	$30,736,665	+0.1%
Net Income	$-2,708,574	$-233,267	+10.6%

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

248

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

$332,883

Total Directors

Key Employees

$836,015

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Odette Harris	Director, Board Chair	1.00	Officer Director	$0	$0	$0
Paul Heidenreich	Director, Secretary/Treasurer	0.50	Officer Director	$0	$0	$0
Maheen Adamson	Director	0.50	Director	$0	$0	$0
Ngan Huang	Director	0.50	Director	$0	$0	$0
Meghan Kemnec	Statutory non-VA Director	0.50	Director	$0	$0	$0
Mike Kozal	Statutory VA Director	0.50	Director	$0	$0	$0
Ware Kuschner	Director	0.50	Director	$0	$0	$0
Jennifer Lee	Statutory VA Director	0.50	Director	$0	$0	$0
Lawrence Leung	Director, Audit Committee Chair	0.50	Director	$0	$0	$0
Payam Massaband	Statutory VA Director	0.50	Director	$0	$0	$0
Jean Gurga	Statutory VA Director	0.50	Director	$0	$0	$0
Robert Sloss	Statutory non-VA Director	0.50	Director	$0	$0	$0
Philip Tsao	Director to 9/30/24	0.50	Director	$0	$0	$0
Elaine Staats	CEO	40.00	Officer	$268,411	$64,472	$332,883
Lisa Clark	HR Director	40.00	Key Emp	$191,158	$17,864	$209,022
Mary L Thornton	Director of Operations	40.00	Key Emp	$181,211	$32,236	$213,447
Lily Ibragimov	Director of Finance & Accounting	40.00	Key Emp	$177,437	$31,877	$209,314
Allison Malate	Associate Director of Sponsored Research	40.00	Key Emp	$173,275	$30,957	$204,232
Xinguo Jiang	Research Scientist II	40.00	Highest	$153,445	$47,503	$200,948
Calvert Lee	Clinical Research Manager	40.00	Highest	$149,154	$42,217	$191,371
Stephanie L Hensey	Data Base Analyst II	40.00	Highest	$147,124	$31,608	$178,732
Jenny Nhu-Thuy Dao	Accounting Manager	40.00	Highest	$140,647	$43,849	$184,496
Kevin Chow	System Administrator II	40.00	Highest	$133,512	$45,157	$178,669

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	$31,646,627	$34,355,201	$17,246,189	$-2,708,574
2023	$30,503,398	$30,736,665	$20,719,365	$-233,267
2022	$29,922,772	$29,764,131	$15,643,008	$158,641
2021	$29,400,012	$28,118,941	$15,189,973	$1,281,071
2020	$29,572,642	$31,188,918	$12,982,406	$-1,616,276
2019	$31,059,629	$30,708,326	$12,525,941	$351,303
2018	$28,157,044	$28,466,853	$12,338,139	$-309,809

Palo Alto Veterans Institute for Research