NORTHERN CALIFORNIA INSTITUTE FOR RESEARCH AND EDUCATION INC (EIN 943084159) - 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

1988

Legal Domicile

Principal Officer

REBECCA A ROSALES

Phone

4157506954

Tax Period

2024-10-01 to 2025-09-30

NORTHERN CALIFORNIA INSTITUTE FOR RESEARCH AND EDUCATION INC, founded in 1988, is a mid-sized nonprofit in the Medical Research sector that reported $69.2M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF VETERANS AND THE GENERAL PUBLIC BY SUPPORTING A WORLD-CLASS BIOMEDICAL RESEARCH PROGRAM CONDUCTED BY UCSF FACULTY AT THE SAN FRANCISCO VETERANS AFFAIRS HEALTH CARE 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 (2024)

Revenue Breakdown

Contributions & Grants $62,342,330

Program Service Revenue $6,585,113

Investment Income $225,779

Other Revenue $0

TOTAL REVENUE $69,153,222

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,628,389

Fundraising Expenses $0

Program Expenses $58,670,114

Other Expenses $39,886,393

TOTAL EXPENSES $69,514,782

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,153,222	$62,319,319	+0.1%
Expenses	$69,514,782	$61,631,737	+0.1%
Net Income	$-361,560	$687,582	-1.5%

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

270

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

$1,330,555

Total Directors

$2,936,507

Key Employees

$271,300

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE OVBIAGELE MD MSC MAS MBA M	DIRECTOR	1.00	Director	$0	$0	$484,108
HUBERT T KIM MD PHD	VICE CHAIR	8.00	Officer Director	$0	$0	$393,181
THEODORA MAURO MD	DIRECTOR	1.00	Director	$0	$0	$375,000
THOMAS C NEYLAN MD	DIRECTOR	1.00	Director	$0	$0	$320,838
STEVEN A YUKL MD	DIRECTOR	1.00	Director	$0	$0	$304,165
KARUNESH GANGULY MD PHD	DIRECTOR	1.00	Director	$0	$0	$303,364
MICHAEL SHLIPAK MD MPH	CHAIR	8.00	Officer Director	$0	$0	$263,125
KRISTINE YAFFE MD	DIRECTOR	1.00	Director	$0	$0	$167,979
JENNIFER MITCHELL PHD	DIRECTOR	1.00	Director	$0	$0	$166,973
LOUISE C WALTER MD	DIRECTOR	1.00	Director	$0	$0	$157,774
NEAL H COHEN MD MPH MS	DIRECTOR (THRU 7/2025)	1.00	Director	$0	$0	$0
LT COLONEL STEVE COUNTOURIOTIS	DIRECTOR	1.00	Director	$0	$0	$0
WARREN J GASPER MD	DIRECTOR	1.00	Director	$0	$0	$0
VANESSA JACOBY MD MAS	DIRECTOR	1.00	Director	$0	$0	$0
SALOMEH KEYHANI MD	DIRECTOR	1.00	Director	$0	$0	$0
JIA F LI MBA FACHE	DIRECTOR (THRU 5/2025)	1.00	Director	$0	$0	$0
KENNETH R MCQUAID MD	DIRECTOR (THRU 7/2025)	1.00	Director	$0	$0	$0
DAVID O MORGAN PHD	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN PEARY JD LLM	DIRECTOR	1.00	Director	$0	$0	$0
KAREN SEAL MD MPH	DIRECTOR	1.00	Director	$0	$0	$0
JULES WALKER MBA	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA ROSALES	CEO/EXECUTIVE DIRECTOR	40.00	Officer	$330,273	$35,468	$365,741
JOANNA ZHAO	CFO, SECRETARY, AND TREASURER	40.00	Officer	$245,218	$63,290	$308,508
DIANA SACREY	DIRECTOR, VAARC RESEARCH OPERATIONS	40.00	Key Emp	$210,449	$60,851	$271,300
MICHAEL WEINER	PRINCIPAL INVESTIGATOR	40.00	Highest	$418,437	$17,987	$436,424
DEREK FLENNIKEN	CIND IT DIRECTOR	40.00	Highest	$208,190	$57,040	$265,230
ZIN KAY CHAN	DIRECTOR, INFORMATION SYSTEMS	40.00	Highest	$188,592	$28,809	$217,401
LYDIA BLEDNYH	HUMAN RESOURCES DIRECTOR	40.00	Highest	$178,851	$30,928	$209,779
CYNTHIA HUYNH	ADMINISTRATIVE NURSE II	40.00	Highest	$184,550	$19,531	$204,081

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	$69,153,222	$69,514,782	$20,549,356	$-361,560
2024	$62,319,319	$61,631,737	$21,337,777	$687,582
2023	$52,613,082	$51,668,686	$19,731,206	$944,396
2022	$54,120,030	$53,277,650	$22,598,477	$842,380
2021	$46,684,844	$43,761,214	$16,307,751	$2,923,630
2020	$44,689,842	$44,710,161	$15,917,081	$-20,319
2019	$48,375,694	$46,731,828	$14,819,377	$1,643,866
2018	$47,212,751	$46,199,426	$11,327,406	$1,013,325

NORTHERN CALIFORNIA INSTITUTE FOR RESEARCH AND EDUCATION INC