Concurrent Technologies Corporation

Nonprofit profile at a glance

EIN
251556708
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Johnstown, PA, USA
Phone
8002824392
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Engineering and Technology

Official website

Reported finances

Revenue
$101,274,766
Expenses
$98,674,933
Assets
$83,593,688
Liabilities
$15,560,611

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • Edward J Sheehan Jr (Board Member/President/CEO)

Highest reported compensation

  • Edward J Sheehan Jr (Board Member/President/CEO): $738,974 total reported compensation
  • George W Appley (Former Executive Vice Pres/COO): $484,023 total reported compensation
  • John E Klein (Vice Pres/CFO/Treasurer): $395,127 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Concurrent Technologies Corporation (CTC) provides applied scientific research & development services, in the public interest, to develop innovative technology and management solutions.

What it reported doing in 2024

The Interboundary Secure Information Sharing (ISIS) Program will develop a new cross domain system, the Next Generation Cross Domain Solution (NGCDS), that will consolidate the functionality of several existing cross domain systems and incorporate new cross domain technologies to provide a comprehensive cross domain capability for enterprise and cloud computing environments. The ISIS Program will also provide support for a number of existing cross domain systems until such time as the functionality of those systems is incorporated into the NGCDS. The scope of this effort shall include development, modification, testing, assembly, delivery, installation, training, troubleshooting support, and logistics support for existing and new cross domain systems and existing and new cross domain technologies.

Operating model

Revenue model
Grant-funded. 92% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 68
  • Accountability: 94
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.5%; rating input score 86
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: $61.06 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 50.6%; rating input score 51; 10th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 90%; rating input score 90; 38th 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: 2.6%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -5.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 85.5% of revenue deployed · 87.4% of spending went to programs
  • Governance: 9 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $86.3M in reported program spending
  • Leadership: top reported pay $739K · 24 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $15.7M reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 32 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.