Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $52,978,731

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $632,713 · excluded $632,713

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,572,720 · program services $8,572,720

• 5 · Compensation of officers, directors and key employees

  total $3,193,251 · program services $1,801,861 · management and general $1,391,390

• 7 · Other salaries and wages

  total $10,792,988 · program services $6,090,178 · management and general $4,702,810

• 8 · Pension plan contributions

  total $296,275 · program services $167,179 · management and general $129,096

• 9 · Other employee benefits

  total $1,095,670 · program services $661,101 · management and general $434,569

• 10 · Payroll taxes

  total $881,758 · program services $510,090 · management and general $371,668

• 11a · Fees: management

  total $829,742 · program services $746,768 · management and general $82,974

• 11b · Fees: legal

  total $1,055,228 · management and general $1,055,228

• 11c · Fees: accounting

  total $67,118 · management and general $67,118

• 11g · Fees: other

  total $3,053,825 · program services $210,464 · management and general $2,843,361 · fundraising $0

• 12 · Advertising and promotion

  total $83,469 · program services $8,732 · management and general $74,737

• 13 · Office expenses

  total $609,434 · program services $133,197 · management and general $476,237

• 16 · Occupancy

  total $14,899,739 · program services $13,409,882 · management and general $1,489,857

• 17 · Travel

  total $649,574 · program services $359,093 · management and general $290,481

• 19 · Conferences, conventions and meetings

  total $127,727 · program services $21,918 · management and general $105,809

• 22 · Depreciation, depletion and amortization

  total $7,814,257 · program services $7,032,831 · management and general $781,426

• 23 · Insurance

  total $145,099 · management and general $145,099

• 24a · Other expenses: Lab expenses

  total $6,904,314 · program services $6,903,182 · management and general $1,132

• 24b · Other expenses: Student expenses

  total $1,209,582 · program services $1,209,582

• 24c · Other expenses: Subscriptions

  total $1,011,248 · program services $629,566 · management and general $381,682

• 24d · Other expenses: Health and safety expenses

  total $317,509 · program services $317,509

• 24e · All other expenses

  total $593,171 · program services $278,855 · management and general $314,316 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $38,341,866 · end of year $4,091,658

• 2 · Savings and temporary cash investments

  beginning of year $618,831 · end of year $618,831

• 4 · Accounts receivable

  beginning of year $11,357 · end of year $6,564

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,429,524 · end of year $1,232,853

• 10a · Land, buildings and equipment: cost or other basis

  $99,499,504

• 10b · Land, buildings and equipment: accumulated depreciation

  $8,616,377

• 10c · Land, buildings and equipment, net

  beginning of year $47,856,273 · end of year $90,883,127

• 12 · Investments: other securities

  beginning of year $1,000,000 · end of year $1,000,000

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $0

• 15 · Other assets

  beginning of year $60,857,768 · end of year $57,865,163

• 17 · Accounts payable and accrued expenses

  beginning of year $8,439,343 · end of year $11,494,900

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $16,080,816

• 25 · Other liabilities

  beginning of year $69,200,006 · end of year $66,238,464

• 27 · Net assets without donor restrictions

  beginning of year $72,476,270 · end of year $61,884,016

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

2 executives received tax gross-up payments. These are treated as taxable compensation to individuals.

Schedule J, Part I, Line 4a Severance or change-of-control payment

THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAY DURING 2023 (INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III): BENJAMIN N MIJTS - $ JENNIFER A MOSS - $ DANIEL DEVER, PHD - $

Schedule J, Part I, Line 7 Non-fixed payments

For each full year of employment with the Institute, individuals shall be eligible to earn an annual bonus of up to a percentage of their effective Base Salary ("Annual Bonus"), based half on their and half on the Institute's achievement of performance goals established in advance by the Board of Directors of the Institute ("Board") or its delegate and provided in writing, contingent on the individuals remaining actively employed with the Institute through the payment date of each Annual Bonus. The Annual Bonus will be prorated based on start date. The Annual Bonus, if any, will be earned and paid no later than two and a half months after the end of the fiscal year, at which point the Board (or its delegate) will also have determined goals for the then current fiscal year. All bonus payments shall be made less deductions and withholdings required by law or approved by the individuals. COO Bonus program: For each year of employment with the Institute, the COO shall be eligible to earn a discretionary bonus, on a semi-annual basis, in the target amount of 50% of their then effective Base Salary, based on: (a) the extent of their achievement against individual performance goals set for each semi-annual period, and (b) overall performance rating for that semi-annual period ("Individual Performance Bonus"). The goals for each bonus period will be mutually agreed upon between the COO and the Institute and provided in writing. In each semi-annual period, if the COO achieves the goals and receives a performance rating of "3 - Exemplary," they will be eligible for the target bonus amount (50% of Base Salary). If they achieve fewer than all goals or receive a performance rating of "2 - Success," they will be eligible for a partial bonus in an amount deemed appropriate for the level of performance. If they receive a performance rating of "1 - Missed Expectations," they will not be eligible for any bonus for the period. Decisions concerning performance ratings, whether they receive an Individual Performance Bonus in any semi-annual period, and the amount of any such bonus, shall be at the Institute's discretion. Each Individual Performance Bonus, if awarded, will be paid by April 30 or October 31, as applicable. Eligibility to receive any Individual Performance Bonus payment is contingent upon the COO remaining actively employed with the Institute through the scheduled payment date. All bonus payments will be made less deductions and withholdings required by law or approved by the COO.

Disregarded entities

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

• ARC MOBILITY LLC

  TRANSPORTATION · DE · income $0 · assets $0

  Directly controlled by ARC RESEARCH INSTITUTE