Applied Research Institute
Legal name: Applied Research Institute Inc
Nonprofit profile at a glance
- EIN
- 821443757
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2018
- Location
- Bloomington, IN, USA
- Phone
- +1 (812) 758-4338
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $76,880,879
- Expenses
- $68,231,647
- Assets
- $47,128,624
- Liabilities
- $30,881,691
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- DAVID ROBERTS (PRESIDENT & CEO)
Highest reported compensation
- DAVID ROBERTS (PRESIDENT & CEO): $502,209 total reported compensation
- WILLIAM KISER (EVP SCIENCE & TECHNOLOGY): $416,351 total reported compensation
- JAMES COSTA (SVP, INNOVATION & SEMICONDUCTOR): $371,410 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Applied Solutions for Transformational Ideas
What it reported doing in 2024
Applied research institute performs applied research and supported related technical activities in the areas of trusted microelectronics, hypersonic, and cyber-physical systems. To accomplish this, ari has estabilshed a broad network of government, academic, and industry partners to find solutions to some of the difficult threats currently impacting our national security. Our work ranges from applied research and development, "convene" activities to bring together disparate groups to meet singular goal related to our technical mission, and to other activities that support our nation and its warfighters.
Operating model
- Revenue model
- Grant-funded. 76% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 65
- Accountability: 100
- Sustainability: 48
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83.1%; rating input score 83
- Program expense ratio: 93.3%; rating input score 93
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 11.3%; rating input score 75; 75th percentile among comparable filings
- Total-asset coverage ratio: 0.69; rating input score 27; 27th percentile among comparable filings
- Liabilities to assets ratio: 0.66; rating input score 25; 25th percentile among comparable filings
- Officer compensation ratio: 5.1%; rating input score 16; 16th percentile among comparable filings
Growth
- Program expense growth: 42.8% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 43.4% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 49.6% per year; rating input score 100; 99th percentile among comparable filings
Details
- What they do: 9 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 83.1% of revenue deployed · 93.3% of spending went to programs
- Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $63.7M in reported program spending
- Leadership: top reported pay $502K · 15 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.6M reported
- Consistency: 35 of 35 current checks pass
- Schedules: 9 filed schedules · includes major donors, foreign activity, and executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 10 filed money-flow records
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 27/100.
- High — Sustainability: Officer compensation ratio scored 16/100.
- High — Sustainability: Liabilities to assets ratio scored 25/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.