EMPIRE DISCOVERY INSTITUTE INC (EIN 823993697) - 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

2017

Legal Domicile

Principal Officer

RONALD C NEWBOLD

Phone

5852763150

Tax Period

2023-01-01 to 2023-12-31

EMPIRE DISCOVERY INSTITUTE INC, founded in 2017, is a small nonprofit in the Environment sector that reported $235K in total revenue in fiscal year 2023. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $5.4M exceeded revenue, resulting in a 2210% operating deficit.

Mission

THE PURPOSE OF THE INSTITUTE IS TO ENGAGE IN CHARITABLE AND SCIENTIFIC ACTIVITIES FOR THE BENEFIT OF THE ACADEMIC, MEDICAL AND RESEARCH INSTITUTIONS AND PUBLIC BENEFIT CORPORATIONS AFFILIATED WITH AND CONTROLLING THE INSTITUTE. TO FOSTER AN EDUCATIONAL ECOSYSTEM IN UPSTATE NEW YORK FOR TRAINING THE NEXT GENERATION OF SCIENTISTS AND BUSINESS LEADERS, AND SUPPORT UPSTATE NEW YORK'S REGIONAL ECONOMY AND TO ACCRUE LIFE SCIENCES ECONOMIC DEVELOPMENT BENEFITS TO UPSTATE NEW YORK THROUGH THE CREATION OF A RESEARCH AND BUSINESS INITIATIVE FOCUSED ON ACCELERATING TRANSLATIONAL RESEARCH GENERATING INNOVATIVE PROOF-OF-CONCEPT STUDIES AND ADVANCING THE SCIENTIFIC AND EDUCATIONAL ACTIVITIES OF THE INSTITUTIONS' FACULTY, FELLOWS AND STUDENTS IN ASPECTS OF CHEMISTRY, PHARMACOLOGY AND DRUG DISCOVERY AND FACILITATING THE CREATION OF STARTUP COMPANIES AND OTHER SPINOFF INITIATIVES, AND ENGAGING EXCLUSIVELY IN SUCH OTHER CHARITABLE AND SCIENTIFIC ACTIVITIES.

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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 $48,900

Investment Income $186,054

Other Revenue $0

TOTAL REVENUE $234,954

Expense Breakdown

Grants Paid $0

Salaries & Benefits $921,647

Fundraising Expenses $0

Program Expenses $4,087,341

Other Expenses $4,506,008

TOTAL EXPENSES $5,427,655

Year-over-Year Comparison

	2023	2022	Change
Revenue	$234,954	$8,288,192	-1.0%
Expenses	$5,427,655	$2,938,157	+0.8%
Net Income	$-5,192,701	$5,350,035	-2.0%

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

$721,781

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR SATISH TRIPATHI	BOARD MEMBER, CHAIR (TO 1/31/23)	0.25	Officer Director	$0	$0	$0
DR VENU GOVINDARAJU	BOARD MEMBER	0.25	Director	$0	$0	$0
DR CANDACE JOHNSON	BOARD MEMBER	0.25	Director	$0	$0	$0
DR THOMAS SCHWAAB	BOARD MEMBER (TO 3/1/24)	0.25	Director	$0	$0	$0
DR MARK TAUBMAN	BOARD MEMBER (TO 11/18/23)	0.25	Director	$0	$0	$0
PETER ROBINSON	BOARD MEMBER	0.25	Director	$0	$0	$0
STEPHEN MCCLUSKI	BOARD MEMBER	0.25	Director	$0	$0	$0
ROBERT FRAASS	BOARD MEMBER	0.25	Director	$0	$0	$0
MARK KERCHER	BOARD MEMBER	0.25	Director	$0	$0	$0
GARY POLLACK	BOARD MEMBER	0.25	Director	$0	$0	$0
STEPHEN DEWHURST	BOARD MEMBER	0.25	Director	$0	$0	$0
THOMAS QUINN NON-VOTING	BOARD TREASURER	0.25	Officer	$0	$0	$0
ADAM TULGAN	COO	40.00	Officer	$217,133	$60,772	$277,905
RONALD C NEWBOLD	INTERIM CEO	40.00	Officer	$375,530	$68,346	$443,876
JEFFREY DUNBAR NON-VOTING	BOARD SECRETARY	0.25	Officer	$0	$0	$0
PATRICK EMMERLING NON VOTING	ASST BOARD SECRETARY	0.25	Officer	$0	$0	$0
MOLLY MESKO	DIR OF PORTFOLIO DEVEL & A	40.00	Highest	$144,179	$43,236	$187,415

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	$234,954	$5,427,655	$4,196,828	$-5,192,701
2022	$8,288,192	$2,938,157	$7,804,754	$5,350,035
2021	$41,665	$2,796,853	$2,138,425	$-2,755,188
2020	$4,500,000	$1,543,097	$4,306,324	$2,956,903
2019	$2,001,042	$1,025,074	$1,843,341	$975,968

EMPIRE DISCOVERY INSTITUTE INC