Dakota State University Applied Research Corporation

Nonprofit profile at a glance

EIN
884334714
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Madison, SD, USA
Phone
6058001332
Rating
33
Verdict
REVIEW
Rating confidence
Moderate
Sector
Engineering and Technology

Reported finances

Revenue
$1,070,000
Expenses
$1,017,062
Assets
$8,158
Liabilities
$4,936

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ANDREA THOMPSON (CEO)

Highest reported compensation

  • ANDREA THOMPSON (CEO): $600,000 total reported compensation
  • NATHAN LUKKES (BOARD MEMBER): $363,446 total reported compensation
  • DR JOSE-MARIE GRIFFITHS (VICE CHAIR): $357,006 total reported compensation

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

Overview

Mission

Conduct applied/problem-driven cybersecurity research to support cybersecurity needs in the u.s.

What it reported doing in 2024

The primary purpose of the corporation is to conduct applied/problem-driven cybersecurity research to assist public and private national security partners in support of the overall cybersecurity needs of the united states. The corporation may also conduct applied cyber research, support related public service activities, and/or provide space for related or complementary cyber activities, particularly in the industries of agriculture, health care, and finance.during fy25 the organization worked on establishing its program. Program activities will commence during fy26.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 74
  • Accountability: 37
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 10th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.9%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 98.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -150% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 56.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -30.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $600K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.