In-Q-Tel, Inc.

Legal name: In-q-tel Inc

Nonprofit profile at a glance

EIN
522149962
IRS 990 coverage
2016–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Tysons, VA, USA
Phone
7032483000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
National Security

Official website

Reported finances

Revenue
$132,130,603
Expenses
$134,107,295
Assets
$980,596,953
Liabilities
$100,178,887

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

Leadership & pay

27 people listed

Executive titles in this filing

  • S BOWSHER (PRESIDENT/CEO & TRUSTEE)

Highest reported compensation

  • S BOWSHER (PRESIDENT/CEO & TRUSTEE): $3,956,844 total reported compensation
  • M STROTTMAN (EVP, CHIEF OPERATING OFFICER): $1,618,883 total reported compensation
  • G HOYEM (EVP, INVESTMENTS): $1,332,152 total reported compensation

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

Overview

Mission

IQT is the most trusted leader in accelerating the transition of groundbreaking technologies from the private to the public sector to advance the national security and economic prosperity of America and its allies.

What it reported doing in 2024

See schedule o

Operating model

Revenue model
Grant-funded. 86% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 78
  • Accountability: 90
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: Limited

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: 97.6%; rating input score 98; 33rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 81.8%; rating input score 82; 29th 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: -1.5%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 7.31; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 3 operating locations identified
  • Where the money goes: 81.7% of revenue deployed · 78.1% of spending went to programs
  • Governance: 9 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $104.7M in reported program spending
  • Leadership: top reported pay $4M · 27 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.1M reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 25 filed money-flow records
  • Related organizations: 8 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.