DENVER RESEARCH INSTITUTE (EIN 841392442) - 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

1997

Legal Domicile

Principal Officer

CYNTHIA GASAWAY

Phone

3035010540

Tax Period

2025-01-01 to 2025-12-31

DENVER RESEARCH INSTITUTE, founded in 1997, is a community nonprofit in the Health Care sector that reported $4.2M in total revenue in fiscal year 2025. Revenue decreased 6% compared to the prior year. Expenses of $4.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROVIDE MEDICAL RESEARCH AND EDUCATIONAL PROGRAMS RELATED TO ADVANCING THE RESEARCH MISSION OF THE VETERANS AFFAIRS MEDICAL CENTER IN DENVER, CO.

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,248,329

Program Service Revenue $1,811,966

Investment Income $101,785

Other Revenue $11,228

TOTAL REVENUE $4,173,308

Expense Breakdown

Grants Paid $162,462

Salaries & Benefits $2,320,798

Fundraising Expenses $0

Program Expenses $3,620,330

Other Expenses $2,161,623

TOTAL EXPENSES $4,644,883

Year-over-Year Comparison

	2025	2024	Change
Revenue	$4,173,308	$4,453,940	-0.1%
Expenses	$4,644,883	$4,890,590	-0.1%
Net Income	$-471,575	$-436,650	+0.1%

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

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

$385,900

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYNTHIA GASAWAY	EXECUTIVE DI	40.00	Officer	$185,089	$17,869	$202,958
KRISTEN BATCHO	FINANCE DIRE	40.00	Officer	$173,514	$9,428	$182,942
BRYAN WEIGLE	GRANTS DIREC	40.00	Highest	$116,834	$6,266	$123,100
IFEOMA HOLDER	B&F MANAGER	40.00	Highest	$102,061	$5,500	$107,561
DUANE GILL	DIRECTOR, AS	1.00	Director	$0	$0	$0
STEPHEN HAYNER	DIRECTOR	1.00	Director	$0	$0	$0
MARTY JACOBSON PHD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT KEITH MD	CHAIR	1.00	Officer Director	$0	$0	$0
BRYAN LUBLIN MD	DIRECTOR	1.00	Director	$0	$0	$0
JOHN RIORDAN MD	DIRECTOR, AS	1.00	Director	$0	$0	$0
PAUL ROBERTS	DIRECTOR, AS	1.00	Director	$0	$0	$0
RICHARD SALGUEIRO FACHE	DIRECTOR, TH	1.00	Director	$0	$0	$0
COREY SANDBERG	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW TALARCZYK	DIRECTOR, AS	1.00	Director	$0	$0	$0
NICHOLAS WALTER MD	SECRETARY	1.00	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	$4,173,308	$4,644,883	$4,697,139	$-471,575
2024	$4,453,940	$4,890,590	$4,561,028	$-436,650
2023	$4,969,818	$6,110,016	$4,545,843	$-1,140,198
2022	$7,808,781	$7,136,404	$5,346,478	$672,377
2021	$9,165,771	$9,018,338	$6,241,987	$147,433
2020	$8,913,502	$8,681,195	$5,896,324	$232,307
2019	$7,969,061	$7,191,328	$5,374,859	$777,733
2018	$5,934,448	$5,725,310	$3,344,444	$209,138

DENVER RESEARCH INSTITUTE