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Nonprofiteer
← SOUTHWEST RESEARCH INSTITUTE

Form 990 for tax year 2023

Filed by SOUTHWEST RESEARCH INSTITUTE.

Totals

Total revenue
$926,409,362
Total expenses
$892,381,723
Contributions and grants received
$405,403
Grants paid
$609,612
Program service revenue
$914,546,152
Investment income
$11,254,470
Other revenue
$203,337
Total assets, end of year
$1,124,893,515
Total liabilities, end of year
$302,307,283
Net assets or fund balances, end of year
$822,586,232
Program services expenses (Part IX)
$753,294,792
Management and general expenses
$139,086,931
Fundraising expenses
$0
Program service expenses (Part III)
$753,294,792

Program services were 84.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Adam Hamilton

    President/CEO/Director

    Total calculated
    $1,718,720
    From this org
    $1,661,889
    From related orgs
    $0
    Other
    $56,831
    Hours/week
    40 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $1,081,105
    Bonus
    $548,000
    Other
    $32,784
    Deferred
    $33,096
    Nontaxable benefits
    $23,735
    Filer's total
    $1,718,720

  • Walter D Downing Jr

    Exec VP/COO/Director

    Total calculated
    $1,079,454
    From this org
    $1,020,498
    From related orgs
    $0
    Other
    $58,956
    Hours/week
    40 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $729,049
    Bonus
    $239,875
    Other
    $51,574
    Deferred
    $33,096
    Nontaxable benefits
    $25,860
    Filer's total
    $1,079,454

  • J Dan Bates-See Sch J Part III

    Director/Former Pres- Ret.

    Total calculated
    $341,231
    From this org
    $341,231
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $341,231
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $341,231

  • Milton B Lee II

    Director

    Total calculated
    $40,000
    From this org
    $40,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3 + 0.1 related

  • Phillip J Pfeiffer

    Director

    Total calculated
    $40,750
    From this org
    $40,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3 + 0.1 related

  • Ricardo Romo

    Director (Ended 12/31/2023)

    Total calculated
    $16,000
    From this org
    $16,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 0.1 related

  • Wayne S Alexander

    Director

    Total calculated
    $39,000
    From this org
    $39,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 0.1 related

  • Jan Newton

    Director - Chair (2024)

    Total calculated
    $42,500
    From this org
    $42,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4 + 0.1 related

  • Eugene L Ames

    Director

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 0.1 related

  • Phillip D Green

    Director

    Total calculated
    $41,000
    From this org
    $41,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3 + 0.1 related

  • Sam G Dawson

    Director - Chair (2023)

    Total calculated
    $61,750
    From this org
    $61,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 0.1 related

  • Mary Ann Rankin

    Director (Ended 12/31/2023)

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 0.1 related

  • Kimberly S Lubel

    Director - Vice Chair (2024)

    Total calculated
    $37,000
    From this org
    $37,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3 + 0.1 related

  • David S Zachry

    Director

    Total calculated
    $0
    Hours/week
    2 + 0.1 related

  • Esperanza Hope Andrade

    Director (Begin 01/01/2024)

    Total calculated
    $0
    Hours/week
    2 + 0.1 related

  • Robert G Newman

    Director (Begin 01/01/2024)

    Total calculated
    $0
    Hours/week
    2 + 0.1 related

  • James L Burch

    Senior Vice President

    Total calculated
    $792,880
    From this org
    $735,215
    From related orgs
    $0
    Other
    $57,665
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $582,253
    Bonus
    $121,914
    Other
    $31,048
    Deferred
    $33,096
    Nontaxable benefits
    $24,569
    Filer's total
    $792,880

  • Beth Ann Rafferty

    CFO/Secretary/VP-Finance

    Total calculated
    $647,781
    From this org
    $593,011
    From related orgs
    $0
    Other
    $54,770
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $448,389
    Bonus
    $114,602
    Other
    $30,020
    Deferred
    $33,096
    Nontaxable benefits
    $21,674
    Filer's total
    $647,781

  • Steven D Marty

    Vice President

    Total calculated
    $558,116
    From this org
    $499,729
    From related orgs
    $0
    Other
    $58,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $394,265
    Bonus
    $88,176
    Other
    $17,288
    Deferred
    $33,096
    Nontaxable benefits
    $25,291
    Filer's total
    $558,116

  • Daniel W Stewart

    Vice President

    Total calculated
    $530,757
    From this org
    $465,826
    From related orgs
    $0
    Other
    $64,931
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $375,376
    Bonus
    $81,776
    Other
    $8,674
    Deferred
    $33,096
    Nontaxable benefits
    $31,835
    Filer's total
    $530,757

  • C Nils Smith

    Vice President

    Total calculated
    $587,988
    From this org
    $522,984
    From related orgs
    $0
    Other
    $65,004
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $403,358
    Bonus
    $110,643
    Other
    $8,983
    Deferred
    $33,096
    Nontaxable benefits
    $31,908
    Filer's total
    $587,988

  • Robin Canup

    Vice President

    Total calculated
    $568,293
    From this org
    $502,992
    From related orgs
    $0
    Other
    $65,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $473,013
    Bonus
    $0
    Other
    $29,979
    Deferred
    $33,096
    Nontaxable benefits
    $32,205
    Filer's total
    $568,293

  • Steven W Dellenback

    Vice President

    Total calculated
    $542,153
    From this org
    $482,465
    From related orgs
    $0
    Other
    $59,688
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $372,979
    Bonus
    $100,832
    Other
    $8,654
    Deferred
    $33,096
    Nontaxable benefits
    $26,592
    Filer's total
    $542,153

  • Paul Easley

    Vice President

    Total calculated
    $418,788
    From this org
    $365,864
    From related orgs
    $0
    Other
    $52,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $292,160
    Bonus
    $62,022
    Other
    $11,682
    Deferred
    $29,823
    Nontaxable benefits
    $23,101
    Filer's total
    $418,788

  • Monica R Trollinger

    General Counsel

    Total calculated
    $525,503
    From this org
    $458,288
    From related orgs
    $0
    Other
    $67,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $362,620
    Bonus
    $90,679
    Other
    $4,989
    Deferred
    $33,096
    Nontaxable benefits
    $34,119
    Filer's total
    $525,503

  • Anthony Magaro

    Vice President

    Total calculated
    $459,159
    From this org
    $401,279
    From related orgs
    $0
    Other
    $57,880
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,334
    Bonus
    $79,791
    Other
    $40,154
    Deferred
    $31,471
    Nontaxable benefits
    $26,409
    Filer's total
    $459,159

  • Jim R Keys

    Vice President

    Total calculated
    $404,709
    From this org
    $360,666
    From related orgs
    $0
    Other
    $44,043
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $288,545
    Bonus
    $43,380
    Other
    $28,741
    Deferred
    $31,449
    Nontaxable benefits
    $12,594
    Filer's total
    $404,709

  • Ben H Thacker

    Vice President

    Total calculated
    $449,965
    From this org
    $394,772
    From related orgs
    $0
    Other
    $55,193
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,467
    Bonus
    $83,250
    Other
    $31,055
    Deferred
    $31,119
    Nontaxable benefits
    $24,074
    Filer's total
    $449,965

  • Delia Aguilar

    Treasurer & Asst. Corp Secretary

    Total calculated
    $323,431
    From this org
    $283,098
    From related orgs
    $0
    Other
    $40,333
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,211
    Bonus
    $0
    Other
    $29,887
    Deferred
    $27,585
    Nontaxable benefits
    $12,748
    Filer's total
    $323,431

  • Byrl B Brockman

    Assistant Treasurer

    Total calculated
    $286,326
    From this org
    $228,777
    From related orgs
    $0
    Other
    $57,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,494
    Bonus
    $0
    Other
    $4,283
    Deferred
    $22,994
    Nontaxable benefits
    $34,555
    Filer's total
    $286,326

  • Joe A McDonough

    Vice President

    Total calculated
    $342,760
    From this org
    $280,860
    From related orgs
    $0
    Other
    $61,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $273,392
    Bonus
    $0
    Other
    $7,468
    Deferred
    $28,259
    Nontaxable benefits
    $33,641
    Filer's total
    $342,760

  • Michael K McLelland

    Vice President

    Total calculated
    $469,317
    From this org
    $412,233
    From related orgs
    $0
    Other
    $57,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $405,334
    Bonus
    $0
    Other
    $6,899
    Deferred
    $33,096
    Nontaxable benefits
    $23,988
    Filer's total
    $469,317

  • Jose Navarro

    Vice President (Begin 12/07/2023)

    Total calculated
    $326,311
    From this org
    $268,191
    From related orgs
    $0
    Other
    $58,120
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,860
    Bonus
    $0
    Other
    $7,331
    Deferred
    $26,646
    Nontaxable benefits
    $31,474
    Filer's total
    $326,311

  • Sol A Stern

    Associate Vice President

    Total calculated
    $624,772
    From this org
    $568,462
    From related orgs
    $0
    Other
    $56,310
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $551,274
    Bonus
    $0
    Other
    $17,188
    Deferred
    $33,096
    Nontaxable benefits
    $23,214
    Filer's total
    $624,772

  • Scott J Bolton

    Associate Vice President

    Total calculated
    $582,867
    From this org
    $510,829
    From related orgs
    $0
    Other
    $72,038
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $493,641
    Bonus
    $0
    Other
    $17,188
    Deferred
    $33,096
    Nontaxable benefits
    $38,942
    Filer's total
    $582,867

  • Stephan A Fuselier

    Executive Director

    Total calculated
    $493,450
    From this org
    $457,963
    From related orgs
    $0
    Other
    $35,487
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $425,875
    Bonus
    $0
    Other
    $32,088
    Deferred
    $33,096
    Nontaxable benefits
    $2,391
    Filer's total
    $493,450

  • Harold F Levinson

    Program Director

    Total calculated
    $455,158
    From this org
    $390,009
    From related orgs
    $0
    Other
    $65,149
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $381,148
    Bonus
    $0
    Other
    $8,861
    Deferred
    $33,096
    Nontaxable benefits
    $32,053
    Filer's total
    $455,158

  • Brian J Schimmoller

    President-Signature Science

    Total calculated
    $392,614
    From this org
    $370,742
    From related orgs
    $0
    Other
    $21,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $370,422
    Bonus
    $0
    Other
    $320
    Deferred
    $9,900
    Nontaxable benefits
    $11,972
    Filer's total
    $392,614

  • Linda Boehme- Ret 5323

    Former Treasurer

    Total calculated
    $302,362
    From this org
    $259,151
    From related orgs
    $0
    Other
    $43,211
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,166
    Bonus
    $50,598
    Other
    $24,387
    Deferred
    $18,221
    Nontaxable benefits
    $24,990
    Filer's total
    $302,362

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
First class or charter travel: The Institute's travel policy generally does not permit first class or charter travel. There are a small number of exceptions for approved medical accomodations or other business required special circumstances. Tax indemnification and gross-up payments: SwRI provided additional cash compensation (reported on the W-2 and Schedule J) to partially offset the economic impact of a grandfathered taxable benefit to one officer. This represents .24% of total officer compensation. Health or social club dues/fees: SwRI reimburses the membership cost for one officer at a social club. The personal portion is included in compensation and any charges related to personal use are paid by the officer.
Part I, Line 4b
Also referencing Form 990, Part VII, Sec. A., Col. (D) and Schedule J, Part II, Col. (B) regarding J. Dan Bates. The Institute has a noncontributory defined benefit pension plan, which is a grandfathered 457 plan, that was granted to Institute officers who were employed as of April 30, 1981. Benefits are provided through a group annuity contract. The last active participant, J. Dan Bates, retired in September, 2014. He will receive a monthly benefit for his lifetime, with a twenty-year guarantee. The actual benefit paid in 2023 was $301,981. Additionally, he received Director's Fees of $39,250.
Part I, Line 7
The Institute has Officer and Executive Incentive Compensation Plans which are subject to oversight by the Compensation Committee and the Board of Directors. The plans are based on the Institute's mission and use both strategic and operational performance metrics as the basis for annual nonfixed payments, if any. All amounts paid under the incentive plans are reviewed and approved by the Board Compensation Committee. Incentive compensation is paid to other employees, including one of the five highest compensated employees, as determined by internal management. Amounts paid during calendar year 2023 are shown on Sch. J, Part II, Col. (B)(ii).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Signature Science LLC

    Scientific Research and Development · TX · income $48,682,168 · assets $33,734,734

    Directly controlled by Southwest Research Institute

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Tianjin SwARC Automotive Research Laboratory Co Ltd

    C · Research and Development · CH · 50% owned · share of income $4,270,003 · share of assets $6,145,631 · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202542269349302994

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