FAR AI INC (EIN 920692207) - 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

2022

Legal Domicile

Principal Officer

ADAM GLEAVE

Phone

6199309332

Tax Period

2023-01-01 to 2023-12-31

FAR AI INC, founded in 2022, is a community nonprofit in the Science & Technology sector that reported $8.1M in total revenue in fiscal year 2023. Revenue surged 436% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.3M, a strong 65% operating margin.

Mission

ENSURE AI SYSTEMS ARE TRUSTWORTHY AND BENEFICIAL TO SOCIETY. WE INCUBATE AND ACCELERATE RESEARCH AGENDAS THAT ARE TOO RESOURCE-INTENSIVE FOR ACADEMIA BUT NOT YET READY FOR COMMERCIALIZATION BY INDUSTRY.

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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 $7,648,387

Program Service Revenue $339,412

Investment Income $86,470

Other Revenue $2,045

TOTAL REVENUE $8,076,314

Expense Breakdown

Grants Paid $45,000

Salaries & Benefits $932,868

Fundraising Expenses $0

Program Expenses $2,160,443

Other Expenses $1,823,030

TOTAL EXPENSES $2,800,898

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,076,314	$1,507,686	+4.4%
Expenses	$2,800,898	$14,052	+198.3%
Net Income	$5,275,416	$1,493,634	+2.5%

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

$150,056

Total Directors

$150,056

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARL BERZINS	CHIEF OPERATING OFFICER	040.00	Highest	$161,060	$6,797	$167,857
ADAM GLEAVE	PRESIDENT/CEO	040.00	Officer Director	$143,628	$6,428	$150,056
ADRIA GARRIGA ALONSO	RESEARCH SCIENTIST	040.00	Highest	$109,621	$6,084	$115,705
SAWYER BERNATH	TREASURER	001.00	Officer Director	$0	$0	$0
LAWRENCE CHAN	SECRETARY	001.00	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
2024	No data	No data	No data	No data
2023	$8,076,314	$2,800,898	$7,724,375	$5,275,416
2022	$1,507,686	$14,052	$1,493,634	$1,493,634

FAR AI INC