Kestrel Institute FY2023 filing

Tax-deductible

Palo Alto, CA501(c)(3)EIN 94-2750021Revenue $4.4M in FY2023

On file with the IRSkestrel.edu3260 Hillview Ave, 94304-1220 · Palo Alto, CATax-exempt since Jan 1982Publicly supported charity — 170(b)(1)(A)(vi)

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Scientific research and development on methods for software assurance.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$2.1M 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

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
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
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 51% of spending
Concern: pay to officers and key staff is 51% of spending; over 30%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $229K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.4M
+7% vs prior year
Spent
$4.1M
To programs
92%
Net assets
$2.4M
By yearFY2020–FY2024
Revenue
$4.4M
FY2023▲ +7%
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
$4.1M
FY2023▲ +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
$2.4M
FY2023▲ +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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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

92 cents of each dollar spent went to programs.

Program services 92% · $3.8M Management & general 8% · $311K

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; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$347,966Pt VII · Sec A
Computer Scientist
$290,332Pt VII · Sec A
Chief Computer Scientist
$273,506Pt VII · Sec A
Chief Financial Officer &
$264,238Pt VII · Sec A
Assoc Director, Corp Sec &
$194,078Pt VII · Sec A
Systems Manager
$175,877Pt VII · Sec A
Computer Scientist
$173,156Pt VII · Sec A
Computer Scientist
$126,435Pt 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.

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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 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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Provided by the organization

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3 programs · $3.8M · in their own filed words · FY2023
01

Afrl Fight Tonight

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$2.3Mprogram expense
02

Onr Protogen

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$1.1Mprogram expense
03

Darpa Pearls

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$327Kprogram 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

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$4.4M
Ln 12
Gifts and grantsLn 1h$4.4M
Investment incomeLn 3$38K
Money outPt IX
$4.1M
Ln 25
Programscol B$3.8M
Managementcol C$311K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$4.1M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
14
listed · VII A
PaidVII A10
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.4M
Government grantsLn 1e$4.3M
Investment incomeLn 3$38K
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$3.4M
Land, buildings, equipmentLn 10c$11K
Other assetsLn 15$1K
Total assetsLn 16$4.1M
LiabilitiesLn 26$1.7M
Net assetsLn 32$2.4M
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 FY23End FY23
Cash and savingsLn 1–2$2.8M$3.4M
Land, buildings, equipmentLn 10c$7K$11K
Total assetsLn 16$3.8M$4.1M
LiabilitiesLn 26$1.8M$1.7M
Net assetsLn 32$2.0M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.3M$1.2M$110K
Other salaries and wagesLn 7$807K$731K$75K
Other employee benefitsLn 9$501K$501K
Payroll taxesLn 10$139K$139K
Legal feesLn 11b$18K$18K
Accounting feesLn 11c$70K$70K
Other fees for servicesLn 11g$87K$87K
Information technologyLn 14$14K$14K
OccupancyLn 16$46K$46K
TravelLn 17$28K$28K
Depreciation, depletion and amortizationLn 22$1K$1K
Other expenses (24a–d)Ln 24$1.1M$1.0M$41K
All other expensesLn 24e−$19K−$19K
Total functional expensesLn 25$4.1M$3.8M$311K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.9M$3.4M$432K$2.8M 990 PDF
FY2023 Viewing $4.4M$4.1M$365K$2.4M 990 PDF
FY2022 $4.1M$3.5M$594K$2.0M 990 PDF
FY2021 $3.4M$3.0M$339K$1.4M 990 PDF
FY2020 $3.5M$3.6M−$107K$1.0M 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 FY2023 990 (6 parts)
Part I · Summary $4,431,338 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,126,173$4,393,186
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $3,223$38,152
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $4,129,396$4,431,338
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 $2,523,125$2,759,967
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,012,647$1,305,880
I-18 Total expensesPrior year $3,535,772$4,065,847
I-19 Revenue less expensesPrior year $593,624$365,491
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 $4,431,338 across 5 lines filed
VIII-1e Government grants$4,265,629
VIII-1f All other contributions, gifts and grants$127,557
VIII-1h Total contributions, gifts and grants$4,393,186
VIII-3 Investment incomeExcluded from tax $38,152$38,152
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $38,152$4,431,338
Part IX · Statement of functional expenses $4,065,847 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,202,959 · Management $110,330$1,313,289
IX-7 Other salaries and wagesPrograms $731,298 · Management $75,422$806,720
IX-9 Other employee benefitsPrograms $500,655$500,655
IX-10 Payroll taxesPrograms $139,303$139,303
IX-11b Legal feesManagement $18,113$18,113
IX-11c Accounting feesManagement $70,406$70,406
IX-11g Other fees for servicesPrograms $86,886$86,886
IX-14 Information technologyManagement $13,948$13,948
IX-16 OccupancyPrograms $46,200$46,200
IX-17 TravelPrograms $28,047$28,047
IX-22 Depreciation, depletion and amortizationManagement $1,350$1,350
IX-24 Other expenses (24a–d)Programs $1,019,120 · Management $40,902$1,060,022
IX-24e All other expensesManagement −$19,092−$19,092
IX-25 Total functional expensesPrograms $3,754,468 · Management $311,379 · Fundraising $0$4,065,847
Part X · Balance sheet $4,087,305 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $199$200
X-2 Savings and temporary cash investmentsStart of year $2,822,646$3,422,385
X-4 Accounts receivableStart of year $880,499$606,751
X-9 Prepaid expenses and deferred chargesStart of year $54,685$46,078
X-10c Land, buildings and equipment, netStart of year $6,554$10,891
X-15 Other assetsStart of year $1,000$1,000
X-16 Total assetsStart of year $3,765,583$4,087,305
X-17 Accounts payable and accrued expensesStart of year $1,762,293$1,718,524
X-26 Total liabilitiesStart of year $1,762,293$1,718,524
X-27 Net assets without donor restrictionsStart of year $2,003,290$2,368,781
X-32 Total net assets or fund balancesStart of year $2,003,290$2,368,781
X-33 Total liabilities and net assetsStart of year $3,765,583$4,087,305
Part XI · Reconciliation of net assets $2,368,781 net assets at year end
XI-1 Total revenue$4,431,338
XI-2 Total expenses$4,065,847
XI-3 Revenue less expenses$365,491
XI-4 Net assets at start of year$2,003,290
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,368,781

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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