IIT Research Institute

Nonprofit profile at a glance

EIN
362169122
IRS 990 coverage
2019–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Chicago, IL, US
Phone
3125674000
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
General Science

Official website

Reported finances

Revenue
$17,520,000
Expenses
$23,019,000
Assets
$36,279,000
Liabilities
$11,389,000

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

Leadership & pay

16 people listed

Executive titles in this filing

  • David McCormick (President & Director)
  • David Kaplan (Assistant Vice President & Director of Contracts)
  • Rajagopal R Echambadi (Chairman & CEO)

Highest reported compensation

  • David McCormick (President & Director): $581,526 total reported compensation
  • Todd Bucciarelli (AVP & Business Development Manager): $311,525 total reported compensation
  • Robert Baker (AVP & Mgr Microbiology & Molecular Biology): $265,932 total reported compensation

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

Overview

Mission

IITRI collaborates with sponsors to establish a true partnership for the planning and execution of each study, advancing science together.

What it reported doing in 2024

Working with scientists from the U.S. National Cancer Institute and other organizations, perform basic research and preclinical efficacy assessments of new molecular entities being developed for the prevention and treatment of infectious disease, with particular emphasis on pathogenic agents of interest to the biodefense community. Working with the Department of Defense and other agencies, support the development of vaccines and therapeutic entities for infectious agents. Working with scientists from the U.S. National Institutes of Health and other agencies, perform preclinical assessments of small molecule therapeutics and biotherapeutics being developed for the treatment of stroke, tissue fibrosis, neurologic diseases, and other disease entities.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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

MIXED - A large share of available resources goes toward mission work. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 56
  • Accountability: 42
  • Sustainability: 24
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.5%; rating input score 98
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

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

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd 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: -31.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.58; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -5.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 15th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 98.5% of revenue deployed · 75% of spending went to programs
  • Governance: 0 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17.3M in reported program spending
  • Leadership: top reported pay $582K · 16 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.9M reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes executive pay and related organizations
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 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.
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.