Kestrel Institute

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Scientific research and development on methods for software assurance.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 94-2750021) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 2 volunteers and 17 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $325K a year · 8% of revenue · last 5 filings
A surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
91% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 50% of spending
Pay to officers and key staff is 50% of spending.
Part VII, Section A
13.8 mo
of spending, in cash
13.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $229K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
39% of total assets
Liabilities are 39% of assets.
Pt X · Ln 26
Independent board members
3
of 4 voting members
3 of 4 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$3.9M
-13% vs prior year
Spent
$3.4M
To programs
91%
Net assets
$2.8M
By yearFY2020–FY2024
Revenue
$3.9M
FY2024▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.5M
FY2021$3.4M
FY2022$4.1M
FY2023$4.4M
FY2024$3.9M
Expenses
$3.4M
FY2024▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.6M
FY2021$3.0M
FY2022$3.5M
FY2023$4.1M
FY2024$3.4M
Net assets
$2.8M
FY2024▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.0M
FY2021$1.4M
FY2022$2.0M
FY2023$2.4M
FY2024$2.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1982.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $3.1M Management & general 9% · $307K

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

Something off? Claim to add context

Who runs it and what they're paid

13 people listed on the 990; $1.7M paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Computer Scientist
$287,925Pt VII · Sec A
Chief Financial Officer &
$247,028Pt VII · Sec A
Chief Executive Officer
$245,493Pt VII · Sec A
Chief Computer Scientist
$207,718Pt VII · Sec A
Computer Scientist
$181,127Pt VII · Sec A
Systems Manager
$173,216Pt VII · Sec A
Assoc Director, Corp Sec &
$158,427Pt VII · Sec A
Computer Scientist
$152,764Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Eric Smith$245,493$347,966$293,178$237,518$265,555
Marcel Becker$287,925$290,332$194,103$194,264$178,365
Douglas Smith$207,718$273,506$248,290$264,240$273,233
Stephen Fitzpatrick$247,028$264,238$217,353$214,850$169,257
Alessandro Coglio$181,127$173,156$132,718$139,570$248,407
Cordell Green$54,721$100,302$57,455$199,005$195,835
Stephen Westfold$158,427$194,078$195,017$180,141$189,075
James McDonald———$139,601$188,865

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.

See Kestrel Institute executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops methods to ensure software is secure and reliable.

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3 programs · $3.4M · in their own filed words · FY2024
01

Afrl Fight Tonight

-----------

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 94-2750021) · Dispute this line
$2.9Mprogram expense
02

Bbn Arc

-----------

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 94-2750021) · Dispute this line
$304Kprogram expense
03

Bbn Fight Tonight

-----------

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 94-2750021) · Dispute this line
$149Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$229K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2025 · $3.0M federal money spent
Defense Advanced Research Projects AgencyDepartment of Defense · ALN 12.RD · Through Rtx Bbn Technologies, INC. and 1 more$2.9M
Advanced Research Projects Agency for Health (arpa-H)Department of Health and Human Services · ALN 93.RD · Through Aarno Labs, LLC$105K

The auditor reported no findings.

Year ending Dec 2024 · $3.4M federal money spent
Air Force Materiel CommandDepartment of Defense · ALN 12.RD · Direct and through Bae Systems and 2 more$3.4M

The auditor reported no findings.

Year ending Dec 2023 · $4.1M federal money spent
Air Force Materiel CommandDepartment of Defense · ALN 12.RD · Direct and through Bae Systems and 3 more$4.0M
Sandia National LaboratoryDepartment of Energy · ALN 81.RD · Direct$44K

The auditor reported no findings.

Year ending Dec 2022 · $3.5M federal money spent
Air Force Materiel CommandDepartment of Defense · ALN 12.RD · Direct and through Bae Systems and 3 more$3.5M
Sandia National LaboratoryDepartment of Energy · ALN 81.RD · Direct$25K

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.9M
Ln 12
Gifts and grantsLn 1h$3.7M
Investment incomeLn 3$144K
Money outPt IX
$3.4M
Ln 25
Programscol B$3.1M
Managementcol C$307K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
13
listed · VII A
PaidVII A9
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.7M
Government grantsLn 1e$3.5M
Investment incomeLn 3$144K
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$534K
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$4.0M
Accounts receivableLn 4$538K
Prepaid expenses and deferred chargesLn 9$41K
Land, buildings, equipmentLn 10c$15K
Other assetsLn 15$4K
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.8M
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 517
VolunteersI 62
Fiscal year endsHeaderDecember
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$3.4M$4.0M
Land, buildings, equipmentLn 10c$11K$15K
Total assetsLn 16$4.1M$4.6M
LiabilitiesLn 26$1.7M$1.8M
Net assetsLn 32$2.4M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$1.0M$925K$107K
Other salaries and wagesLn 7$671K$593K$79K
Other employee benefitsLn 9$364K$364K
Payroll taxesLn 10$131K$131K
Accounting feesLn 11c$63K$63K
Other fees for servicesLn 11g$9K$9K
Information technologyLn 14$15K$15K
OccupancyLn 16$55K$55K
TravelLn 17$19K$19K$186
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$1.1M$1.0M$50K
All other expensesLn 24e−$9K−$9K
Total functional expensesLn 25$3.4M$3.1M$307K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Oct 22, 2025 $3.9M$3.4M$432K$2.8M 990 PDF
FY2023Filed with the IRS Nov 1, 2024 $4.4M$4.1M$365K$2.4M 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $4.1M$3.5M$594K$2.0M 990 PDF
FY2021Filed with the IRS Nov 11, 2022 $3.4M$3.0M$339K$1.4M 990 PDF
FY2020Filed with the IRS Nov 4, 2021 $3.5M$3.6M−$107K$1.0M 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations
See the full FY2024 990
Part I · Summary $3,874,883 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,393,186$3,731,242
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $38,152$143,641
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $4,431,338$3,874,883
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,759,967$2,197,287
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,305,880$1,246,037
I-18 Total expensesPrior year $4,065,847$3,443,324
I-19 Revenue less expensesPrior year $365,491$431,559
Part VI · Governance 3 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
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 $3,874,883 across 5 lines filed
VIII-1e Government grants$3,537,273
VIII-1f All other contributions, gifts and grants$193,969
VIII-1h Total contributions, gifts and grants$3,731,242
VIII-3 Investment incomeExcluded from tax $143,641$143,641
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $143,641$3,874,883
Part IX · Statement of functional expenses $3,443,324 across 12 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $925,258 · Management $106,913$1,032,171
IX-7 Other salaries and wagesPrograms $592,531 · Management $78,550$671,081
IX-9 Other employee benefitsPrograms $363,531$363,531
IX-10 Payroll taxesPrograms $130,504$130,504
IX-11c Accounting feesManagement $63,185$63,185
IX-11g Other fees for servicesPrograms $9,000$9,000
IX-14 Information technologyManagement $14,925$14,925
IX-16 OccupancyPrograms $55,200$55,200
IX-17 TravelPrograms $18,874 · Management $186$19,060
IX-22 Depreciation, depletion and amortizationManagement $2,034$2,034
IX-24 Other expenses (24a–d)Programs $1,041,636 · Management $50,098$1,091,734
IX-24e All other expensesManagement −$9,101−$9,101
IX-25 Total functional expensesPrograms $3,136,534 · Management $306,790 · Fundraising $0$3,443,324
Part X · Balance sheet $4,556,619 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $200$533,696
X-2 Savings and temporary cash investmentsStart of year $3,422,385$3,423,911
X-4 Accounts receivableStart of year $606,751$538,329
X-9 Prepaid expenses and deferred chargesStart of year $46,078$41,490
X-10c Land, buildings and equipment, netStart of year $10,891$15,193
X-15 Other assetsStart of year $1,000$4,000
X-16 Total assetsStart of year $4,087,305$4,556,619
X-17 Accounts payable and accrued expensesStart of year $1,718,524$1,756,279
X-26 Total liabilitiesStart of year $1,718,524$1,756,279
X-27 Net assets without donor restrictionsStart of year $2,368,781$2,800,340
X-32 Total net assets or fund balancesStart of year $2,368,781$2,800,340
X-33 Total liabilities and net assetsStart of year $4,087,305$4,556,619
Part XI · Reconciliation of net assets $2,800,340 net assets at year end
XI-1 Total revenue$3,874,883
XI-2 Total expenses$3,443,324
XI-3 Revenue less expenses$431,559
XI-4 Net assets at start of year$2,368,781
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,800,340

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

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