Blueforge Alliance FY2024 filing

Tax-deductible

Bryan, TX501(c)(3)Since 2022Science & TechnologyEIN 92-0431093Revenue $480.9M in FY2024

On file with the IRSblueforgealliance.us3891 S Traditions Dr, 77807-7595 · Bryan, TXTax-exempt since Jan 2024Publicly supported charity — 170(b)(1)(A)(vi)

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Blueforge alliance's (bfa) mission is to enable the maritime manufacturing industry to build and maintain the next generation of resilient undersea platforms for america and its allies by increasing capability, capacity, and resilience.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
$3.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $21.7M a year · 5% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.5M
to officers and key staff · 0.8% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$43.2M
58% of total assets
Fine: liabilities are 58% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
1
of 4 voting members
Worth a look: 1 of 4 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$480.9M
+328% vs prior year
Spent
$455.6M
To programs
97%
Net assets
$31.4M
By yearFY2023–FY2025
Revenue
$480.9M
FY2024▲ +328%
Tap a bar for its year
Revenue by fiscal year
FY2023$112.4M
FY2024$480.9M
FY2025$731.2M
Expenses
$455.6M
FY2024▲ +329%
Tap a bar for its year
Expenses by fiscal year
FY2023$106.2M
FY2024$455.6M
FY2025$697.6M
Net assets
$31.4M
FY2024▲ +407%
Tap a bar for its year
Net assets by fiscal year
FY2023$6.2M
FY2024$31.4M
FY2025$65.0M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $440.2M Management & general 3% · $15.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $3.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$474,623Pt VII · Sec A
$473,520Pt VII · Sec A
Chief Development Officer
$345,968Pt VII · Sec A
Chief Administration Officer
$340,834Pt VII · Sec A
Chief Technology Officer
$332,448Pt VII · Sec A
VP, Contracts & Compliance
$236,605Pt VII · Sec A
VP, Corporate Operations
$229,067Pt VII · Sec A
VP, Systems Architecture & Strategy
$225,402Pt VII · Sec A

Randall Gorham’s $526K as CEO/President is at the 14th percentile of top reported officer pay among 43 $100M+ science & technology nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023
Randall Gorham$526,105$473,520$39,272
Kiley Wren$511,437$474,623$39,313
Jennifer Mindock$410,375$225,402—
William Stockton$384,188——
Matthew Prochaska$381,752——
Arnold Kravitz$381,063$332,448—
Matthew L Prochaska—$345,968—
William R Stockton—$340,834—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Integrates industry, academia, and government to advance national security.

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1 program · $440.2M · in their own filed words · FY2023
01

In fiscal year 2024, bfa supported one program under two contracts with the U.S. Department of defense (dod) navy to advance the program goals of galvanizing and revitalizing the U.S. Maritime industrial base (mib).

$440.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 12 grants · $660K · 2022–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$480.9M
Ln 12
Fees for servicesLn 2g$480.2M
Investment incomeLn 3$653K
Other incomeLn 4–11$440
Money outPt IX
$455.6M
Ln 25
Programscol B$440.2M
Managementcol C$15.5M
Owns and owesPt X
$31.4M
net assets · Ln 32
Cash and savingsLn 1–2$18.3M
Total assetsLn 16$74.6M
LiabilitiesLn 26$43.2M
PeoplePt VI, VII
14
listed · VII A
PaidVII A12
Voting boardVI 1a4
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$100
Fees for servicesLn 2g$480.2M
Investment incomeLn 3$653K
Other incomeLn 4–11$440
Total revenueLn 12$480.9M
Assets in detailPt X, end of year
CashLn 1$1.9M
SavingsLn 2$16.4M
Cash and savings togetherLn 1–2$18.3M
Land, buildings, equipmentLn 10c$333K
Other assetsLn 15$30.9M
Total assetsLn 16$74.6M
LiabilitiesLn 26$43.2M
Net assetsLn 32$31.4M
OperationsPt I, VI
EmployeesI 5203
VolunteersI 62
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$34.0M$18.3M
Land, buildings, equipmentLn 10c$92K$333K
Total assetsLn 16$49.1M$74.6M
LiabilitiesLn 26$42.9M$43.2M
Net assetsLn 32$6.2M$31.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$128K$128K
Pay of current officers, directors and key staffLn 5$2.2M$1.3M$948K
Other salaries and wagesLn 7$19.4M$14.5M$4.9M
Pension plan contributionsLn 8$808K$590K$218K
Other employee benefitsLn 9$2.1M$1.5M$564K
Payroll taxesLn 10$1.6M$1.2M$437K
Legal feesLn 11b$1.9M$190K$1.7M
Accounting feesLn 11c$882K$55K$827K
Lobbying feesLn 11d$50K$36K$14K
Other fees for servicesLn 11g$416.4M$414.0M$2.5M
Advertising and promotionLn 12$95K$69K$26K
Office expensesLn 13$1.9M$501K$1.4M
Information technologyLn 14$448K$448K
OccupancyLn 16$810K$810K
TravelLn 17$1.7M$1.2M$476K
Conferences, conventions and meetingsLn 19$50K$25K$25K
InterestLn 20$12K$9K$3K
Depreciation, depletion and amortizationLn 22$20K$20K$215
InsuranceLn 23$378K$91K$287K
Other expenses (24a–d)Ln 24$4.2M$3.7M$530K
All other expensesLn 24e$385K$249K$136K
Total functional expensesLn 25$455.6M$440.2M$15.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $731.2M$697.6M$33.6M$65.0M 990 PDF
FY2024 Viewing $480.9M$455.6M$25.2M$31.4M 990 PDF
FY2023 $112.4M$106.2M$6.2M$6.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $480,869,126 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$100
I-9 Program service revenuePrior year $112,400,961$480,215,952
I-10 Investment incomePrior year $26,992$652,634
I-11 Other revenuePrior year $36$440
I-12 Total revenuePrior year $112,427,989$480,869,126
I-13 Grants and similar amounts paidPrior year $84,410$128,480
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,499,817$26,188,834
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $97,647,948$429,323,040
I-18 Total expensesPrior year $106,232,175$455,640,354
I-19 Revenue less expensesPrior year $6,195,814$25,228,772
Part VI · Governance 1 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $480,869,126 across 6 lines filed
VIII-1f All other contributions, gifts and grants$100
VIII-1h Total contributions, gifts and grants$100
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $480,215,952$480,215,952
VIII-3 Investment incomeExcluded from tax $652,634$652,634
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $440$440
VIII-12 Total revenueRelated to mission $480,215,952 · Unrelated business $0 · Excluded from tax $653,074$480,869,126
Part IX · Statement of functional expenses $455,640,354 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $128,480$128,480
IX-5 Pay of current officers, directors and key staffPrograms $1,294,868 · Management $948,292$2,243,160
IX-7 Other salaries and wagesPrograms $14,524,675 · Management $4,906,029$19,430,704
IX-8 Pension plan contributionsPrograms $589,620 · Management $218,349$807,969
IX-9 Other employee benefitsPrograms $1,523,942 · Management $564,349$2,088,291
IX-10 Payroll taxesPrograms $1,181,263 · Management $437,447$1,618,710
IX-11b Legal feesPrograms $190,109 · Management $1,746,567$1,936,676
IX-11c Accounting feesPrograms $54,971 · Management $827,361$882,332
IX-11d Lobbying feesPrograms $36,488 · Management $13,512$50,000
IX-11g Other fees for servicesPrograms $413,952,128 · Management $2,461,010$416,413,138
IX-12 Advertising and promotionPrograms $69,169 · Management $25,615$94,784
IX-13 Office expensesPrograms $500,745 · Management $1,413,536$1,914,281
IX-14 Information technologyManagement $448,422$448,422
IX-16 OccupancyPrograms $810,410$810,410
IX-17 TravelPrograms $1,236,654 · Management $475,962$1,712,616
IX-19 Conferences, conventions and meetingsPrograms $24,601 · Management $25,090$49,691
IX-20 InterestPrograms $8,597 · Management $3,184$11,781
IX-22 Depreciation, depletion and amortizationPrograms $19,896 · Management $215$20,111
IX-23 InsurancePrograms $90,849 · Management $287,284$378,133
IX-24 Other expenses (24a–d)Programs $3,685,810 · Management $529,606$4,215,416
IX-24e All other expensesPrograms $248,975 · Management $136,274$385,249
IX-25 Total functional expensesPrograms $440,172,250 · Management $15,468,104 · Fundraising $0$455,640,354
Part X · Balance sheet $74,604,278 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $714,464$1,909,740
X-2 Savings and temporary cash investmentsStart of year $33,280,287$16,397,149
X-4 Accounts receivableStart of year $14,865,287$24,833,785
X-9 Prepaid expenses and deferred chargesStart of year $7,039$278,012
X-10c Land, buildings and equipment, netStart of year $92,457$333,465
X-15 Other assetsStart of year $175,089$30,852,127
X-16 Total assetsStart of year $49,134,623$74,604,278
X-17 Accounts payable and accrued expensesStart of year $18,262,550$43,100,375
X-25 Other liabilitiesStart of year $9,160$79,317
X-26 Total liabilitiesStart of year $42,938,809$43,179,692
X-27 Net assets without donor restrictionsStart of year $6,195,814$31,424,586
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $6,195,814$31,424,586
X-33 Total liabilities and net assetsStart of year $49,134,623$74,604,278
Part XI · Reconciliation of net assets $31,424,586 net assets at year end
XI-1 Total revenue$480,869,126
XI-2 Total expenses$455,640,354
XI-3 Revenue less expenses$25,228,772
XI-4 Net assets at start of year$6,195,814
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$31,424,586

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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