BENAROYA RESEARCH INSTITUTE AT VIRGINIA (EIN 910653422) - 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

1956

Legal Domicile

Principal Officer

JANE BUCKNER MD

Phone

2063426500

Tax Period

2023-07-01 to 2024-06-30

BENAROYA RESEARCH INSTITUTE AT VIRGINIA, founded in 1956, is a mid-sized nonprofit in the Medical Research sector that reported $93.6M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $87.5M left a modest 6% surplus.

Mission

TO ADVANCE THE SCIENCE THAT WILL PREDICT, PREVENT, REVERSE, AND CURE DISEASES OF THE IMMUNE SYSTEM.

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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 $87,693,245

Program Service Revenue $4,770,955

Investment Income $407,521

Other Revenue $707,525

TOTAL REVENUE $93,579,246

Expense Breakdown

Grants Paid $37,832,305

Salaries & Benefits $34,729,212

Fundraising Expenses $0

Program Expenses $73,646,780

Other Expenses $14,954,605

TOTAL EXPENSES $87,516,122

Year-over-Year Comparison

	2023	2022	Change
Revenue	$93,579,246	$82,465,243	+0.1%
Expenses	$87,516,122	$83,326,987	+0.1%
Net Income	$6,063,124	$-861,744	-8.0%

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

320

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

$3,734,215

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KETUL PATEL	CHIEF EXECUTIVE OFFICER VMFH	10.00	Officer	$2,613,387	$32,903	$2,646,290
JANE BUCKNER MD	PRESIDENT	40.00	Officer	$501,678	$32,412	$534,090
MARGARET MCCORMICK PHD	EXECUTIVE DIRECTOR & COO	40.00	Officer	$303,699	$35,478	$339,177
WILLIAM KWOK PHD	RESEARCH MEMBER	40.00	Highest	$286,471	$33,612	$320,083
DANIEL CAMPBELL PHD	DIRECTOR, CENTER FOR FUNDAMENTAL IMMUNOLOGY	40.00	Highest	$230,355	$20,619	$250,974
JESSICA HAMERMAN PHD	DIRECTOR, ACADEMIC AFFAIRS	40.00	Highest	$229,026	$18,505	$247,531
CARMEN MIKACENIC MD	ASSOCIATE RESEARCH MEMBER	40.00	Highest	$224,166	$29,448	$253,614
PETER LINSLEY PHD	MEMBER, PRINCIPAL INVESTIGATOR	40.00	Highest	$220,411	$33,924	$254,335
MICHAEL LABOSIER	CFO	40.00	Officer	$186,969	$27,689	$214,658
CHUCK ARNOLD	DIRECTOR	2.00	Director	$0	$0	$0
BOB CARLILE	DIRECTOR	2.00	Director	$0	$0	$0
MIRIAM CHAMBLISS	CORPORATE SECRETARY / VP DIV GENERAL COUNSEL	2.00	Officer	$0	$0	$0
ULI CHI PHD	DIRECTOR/CHAIR	2.00	Officer Director	$0	$0	$0
SISTER JUDE CONNELLY OSF	DIRECTOR (PARTIAL YEAR)	2.00	Director	$0	$0	$0
CAROLYN CORVI	DIRECTOR	2.00	Director	$0	$0	$0
SISTER RUTH GOODWIN OSF	DIRECTOR	2.00	Director	$0	$0	$0
TOD HAMACHEK	DIRECTOR	2.00	Director	$0	$0	$0
DENNIS HUNTHAUSEN	DIRECTOR	2.00	Director	$0	$0	$0
KAREN LEE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT LEMON	DIRECTOR/VICE CHAIR	2.00	Officer Director	$0	$0	$0
GREGG MEYER MD MSC	DIRECTOR	2.00	Director	$0	$0	$0
DAVID NOSACKA	TREASURER / SVP & CFO VMFH	0.00	Officer	$0	$0	$0
JOHN OPPENHEIMER	DIRECTOR	2.00	Director	$0	$0	$0
MARVIN O'QUINN	DIRECTOR (PARTIAL YEAR)	2.00	Director	$0	$0	$0
DIANN PULS	DIRECTOR	2.00	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	No data	No data	No data	No data
2024	$93,579,246	$87,516,122	$96,038,082	$6,063,124
2023	$82,465,243	$83,326,987	$94,354,363	$-861,744
2022	$94,861,276	$83,785,554	$100,143,058	$11,075,722
2021	$37,835,331	$37,139,481	$103,998,179	$695,850
2020	$67,733,759	$71,349,522	$100,142,600	$-3,615,763
2019	$73,278,939	$71,446,676	$95,747,100	$1,832,263
2018	$67,791,846	$66,780,571	$84,112,856	$1,011,275

BENAROYA RESEARCH INSTITUTE AT VIRGINIA