UNIVERSITY OF MASSACHUSETTS LOWELL APPLIED RESEARCH CORPORATION

EIN: 851934638 501(c)(3) Education

LINCOLN, MA

Total Revenue
$1,622,295
Total Expenses
$2,639,631
Total Assets
$11,323,665
Net Assets
$166,804
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
MA
Tax Period
2024-07-01 to 2025-06-30

UNIVERSITY OF MASSACHUSETTS LOWELL APPLIED RESEARCH CORPORATION, founded in 2020, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $2.6M exceeded revenue, resulting in a 63% operating deficit.

Mission

To promote research at The University of Massachusetts Lowell, its research centers, institutes and any other affiiated entities, divisions or segments by providing efficient and effective applied reseach and development, contracting, grant, human resources, and other administration services in conjuncion with the University and its research partners and to provide superior analytic and technology solutions to government and non-government consumers, thereby extending the impact of the University technology enterprise. The Corporation is focused on, but not limited to, applied research and development linking its core competencies to the U.S. Department of Defense requirements providing rapid and innovative solutions for defense and commercial consumers.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,622,295
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,622,295

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,537,469
Other Expenses $2,639,631
TOTAL EXPENSES $2,639,631

Year-over-Year Comparison

2024 2023 Change
Revenue $1,622,295 $1,417,774 +0.1%
Expenses $2,639,631 $2,432,183 +0.1%
Net Income $-1,017,336 $-1,014,409 +0.0%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
N/A
Employees
N/A
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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Steven O'Riordan Treasurer 0.00
Officer Director
$0 $0 $0
Joseph Hartman Chairman 0.00
Director
$0 $0 $0
Anne Maglia Director 0.00
Director
$0 $0 $0
Tim W Rudolph Director 0.00
Director
$0 $0 $0
Michael Kuhlman Director 0.00
Director
$0 $0 $0
Blaise Durante Director 0.00
Director
$0 $0 $0
Maren Canttonar Director 0.00
Director
$0 $0 $0
Ryan Bentiez Director 0.00
Director
$0 $0 $0
Thomas S Hoole President 0.00
Officer
$0 $0 $0
Scott Merrell Secretary 0.00
Officer
$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 $1,622,295 $2,639,631 $11,323,665 $-1,017,336
2024 $1,417,774 $2,432,183 $12,679,781 $-1,014,409
2023 $2,526,711 $1,992,635 $10,937,744 $534,076
2022 $2,222,390 $570,916 $3,119,549 $1,651,474
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