Steadman Philippon Research Institute

Nonprofit profile at a glance

EIN
880245022
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Vail, CO, USA
Phone
9704799797
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Biomedicine, Bioengineering Research

Official website

Reported finances

Revenue
$14,151,760
Expenses
$16,201,121
Assets
$14,362,541
Liabilities
$7,471,034

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

Leadership & pay

34 people listed

Executive titles in this filing

  • DAN DRAWBAUGH (CEO/PRESIDENT)
  • SUZANNE PAGE (VICE PRESIDENT OF OPERATIONS)

Highest reported compensation

  • JOHNNY HUARD (CHIEF SCIENTIFIC OFFICER): $661,826 total reported compensation
  • DAN DRAWBAUGH (CEO/PRESIDENT): $514,439 total reported compensation
  • LEE JONES (VP OF DEVELOPMENT): $355,795 total reported compensation

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

Overview

Mission

Building on our legacy of excellence in orthopaedic sports medicine, spri is unlocking the secrets of healing, finding cures and enhancing lives through global leadership in regenerative medicine, scientific research, innovation and education.

What it reported doing in 2024

Biomedical engineering (bme) is a multidisciplinary laboratory which applies quantitative, analytical, and integrative methods to the field of orthopaedic medicine. The multitalented research staff integrates clinical care, research, and education with the resources of world-renowned medical doctors in order to improve the treatment of musculoskeletal diseases. This focused approach is designed to maintain and enhance athletic performance, health, and quality of life for the professional, semi-professional, collegiate, high school and the recreationally active individual through an emphasis on bench-to-bedside research. See continuation on schedule o. The programs provided by the department of biomedical engineering are unique and diverse and they encompass a complete range of services for the physically active or those wishing to return to an active lifestyle after injury.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 94% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 88
  • Accountability: 93
  • Sustainability: 17
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83%; rating input score 83
  • Program expense ratio: 72.5%; rating input score 73
  • Fundraising efficiency: $8.21 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.4%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: -14.5%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 83% of revenue deployed · 72.5% of spending went to programs
  • Governance: 27 of 28 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $11.8M in reported program spending
  • Leadership: top reported pay $662K · 34 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $304K reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 5 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.