UNIVERSITY OF ARIZONA APPLIED RESE… - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

GENERAL RET ROBIN RAND

Phone

5206213811

Tax Period

2024-07-01 to 2025-06-30

UNIVERSITY OF ARIZONA APPLIED RESEARCH CORPORATION, founded in 2018, is a community nonprofit in the Education sector that reported $6.9M in total revenue in fiscal year 2024. Expenses of $6.3M left a modest 10% surplus.

Mission

DELIVER SUPERIOR TECHNICAL, ANALYTIC, AND INNOVATIVE PRODUCTS, SERVICES, AND SOLUTIONS TO NATIONAL SECURITY CHALLENGES FROM GOVERNMENT AND INDUSTRY, EXTENDING THE BRAND AND IMPACT OF THE UNIVERSITY OF ARIZONA.

Program Service Accomplishments

Program 1

Expenses: $1,432,466 Revenue: $3,257,941

UNIVERSITY OF ARIZONA APPLIED RESEARCH CORPORATION PRIMARILY PROVIDES TECHNICAL SERVICES TO THE UNIVERSITY OF ARIZONA TO ASSIST THE UNIVERSITY WITH OBTAINING RESEARCH CONTRACTS IN THE AREAS OF...

UNIVERSITY OF ARIZONA APPLIED RESEARCH CORPORATION PRIMARILY PROVIDES TECHNICAL SERVICES TO THE UNIVERSITY OF ARIZONA TO ASSIST THE UNIVERSITY WITH OBTAINING RESEARCH CONTRACTS IN THE AREAS OF OPTICS, HYPERSONICS, QUANTUM INFORMATION SCIENCE, ARTIFICIAL INTELLIGENCE CYBER SECURITY AND SPACE RELATED RESEARCH.

Program 2

Expenses: $1,592,952 Revenue: $3,622,946

IN THE CURRENT FISCAL YEAR, WE ALSO PROVIDED MANAGEMENT AND TECHNICAL EXPERTISE FOR FOUR (4) OUTSIDE CONTRACTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,880,887

Investment Income $58,191

Other Revenue $0

TOTAL REVENUE $6,939,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,931,704

Fundraising Expenses $0

Program Expenses $3,025,418

Other Expenses $4,336,107

TOTAL EXPENSES $6,267,811

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,939,078	$6,508,384	+0.1%
Expenses	$6,267,811	$7,272,562	-0.1%
Net Income	$671,267	$-764,178	-1.9%

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

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

$501,590

Total Directors

$1,002,598

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR DAVID HAHN	DIRECTOR	0.25	Director	$0	$63,967	$478,015
DR THOMAS L KOCH	DIRECTOR	0.25	Director	$0	$47,193	$405,555
AUSTIN YAMADA	PRESIDENT & CEO	60.00	Officer	$314,113	$0	$314,113
PATRICK KERR	VICE PRESIDENT, COO	40.00	Officer	$187,477	$0	$187,477
DR TOMAS DIAZ DE LA RUBIA	DIRECTOR	0.25	Director	$0	$6,409	$119,028
FRED DOYLE	DIRECTOR	0.25	Director	$0	$0	$0
EDWARD P MAXWELL	DIRECTOR	0.25	Director	$0	$0	$0
MIKE DANA	DIRECTOR	0.25	Director	$0	$0	$0
J SCOTT MERRELL	SECRETARY	0.50	Officer Director	$0	$0	$0
VICTORIA L MEYER	TREASURER/CFO	10.00	Officer	$0	$0	$0
ROBERT G SEMELSBERGER	CHAIRMAN OF THE BOARD	0.25	Officer 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
2025	$6,939,078	$6,267,811	$4,195,602	$671,267
2024	$6,508,384	$7,272,562	$4,205,393	$-764,178
2023	$6,225,432	$6,987,632	$5,918,636	$-762,200
2022	$5,237,080	$4,437,161	$2,669,677	$799,919
2021	$1,988,110	$2,428,949	$1,562,142	$-440,839
2020	$2,785,463	$1,736,322	$2,079,806	$1,049,141

UNIVERSITY OF ARIZONA APPLIED RESEARCH CORPORATION