Vmi Research Laboratories

Nonprofit profile at a glance

EIN
540737652
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lexington, VA, USA
Phone
5404647432
Rating
90
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,129,593
Expenses
$2,152,999
Assets
$2,025,981
Liabilities
$1,149,588

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

Leadership & pay

11 people listed

Highest reported compensation

  • Angie Fafatas (Treasurer/ Contractual Officer): $46,700 total reported compensation
  • Wade E Bell (Director of Research): $6,600 total reported compensation
  • Anne Alerding (Secreatary): $2,400 total reported compensation

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

Overview

Mission

Vmi research labs exists to serve as the research and development arm of the Virginia military institute. Its purpose is to improve the effectiveness of and to aid directly or indirectly vmi's prime mission - education of the undergraduate student. (continued on schedule o)

What it reported doing in 2024

Projects in collaboration with the united states department of agriculture, the united states army, the united states navy, the united states air force, nasa, nsa, the national science foundation, the Virginia department of wildlife resources, the university of Wyoming, commonwealth cyber initiative, Virginia alliance for semiconductor technology, local governments, other not for profits and private industry.

Operating model

Revenue model
Grant-funded. 94% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 98% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -1.1%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 22.6% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 92.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $47K · 11 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 29/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.