Civic Intelligence

Unm Rainforest Innovations

EIN 85-0413634 • 501(c)3 • Albuquerque, NM

Profile

To support the university of new mexico as the source of innovation management, patent prosecution, and licensing of technologies developed at the university.

101 Broadway Blvd NE Ste 1100Albuquerque, NM 87102

innovations.unm.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

48th percentile

0.31x

Higher debt load relative to assets than 48% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

59th percentile

0.60x

Higher debt load relative to revenue than 59% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2025

Net Margin

19th percentile

-7.9%

Higher net margin than 19% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

99th percentile

$949,961

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

NTEE B • $10M-$25M nonprofits • Source year 2025

Asset Growth

5th percentile

-19%

Faster asset growth than 5% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

63rd percentile

11%

Faster revenue growth than 63% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Down

$17,853,939

Down $4,086,351 (-19%) from 2024

Liabilities

Down

$5,468,403

Down $4,392,232 (-45%) from 2024

Net Assets

Up

$12,385,536

Up $305,881 (+2.5%) from 2024

Revenue

Up

$9,148,542

Up $938,157 (+11%) from 2024

Expenses

Up

$9,867,677

Up $564,811 (+6.1%) from 2024

Net Income

Up

-$719,135

Up $373,346 (+34%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2012: $1,580,576Liabilities 2012: $1,191,635Net Assets 2012: $388,9412012Assets 2013: $1,646,175Liabilities 2013: $1,210,075Net Assets 2013: $436,1002013Assets 2014: $6,454,554Liabilities 2014: $5,947,104Net Assets 2014: $507,4502014Assets 2015: $9,066,008Liabilities 2015: $1,313,955Net Assets 2015: $7,752,0532015Assets 2016: $2,787,346Liabilities 2016: $1,944,058Net Assets 2016: $843,2882016Assets 2017: $2,427,518Liabilities 2017: $1,433,210Net Assets 2017: $994,3082017Assets 2018: $2,954,486Liabilities 2018: $1,824,675Net Assets 2018: $1,129,8112018Assets 2019: $2,925,422Liabilities 2019: $1,919,454Net Assets 2019: $1,005,9682019Assets 2020: $11,202,329Liabilities 2020: $3,579,384Net Assets 2020: $7,622,9452020Assets 2021: $22,586,721Liabilities 2021: $7,819,778Net Assets 2021: $14,766,9432021Assets 2022: $18,724,624Liabilities 2022: $6,812,557Net Assets 2022: $11,912,0672022Assets 2023: $14,736,638Liabilities 2023: $2,808,017Net Assets 2023: $11,928,6212023Assets 2024: $21,940,290Liabilities 2024: $9,860,635Net Assets 2024: $12,079,6552024Assets 2025: $17,853,939Liabilities 2025: $5,468,403Net Assets 2025: $12,385,5362025

Highlighted filing

2025

Assets$17,853,939
Liabilities$5,468,403
Net Assets$12,385,536

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50M-$100MRevenue 2012: $4,498,298Expenses 2012: $4,572,924Net Income 2012: -$74,6262012Revenue 2013: $3,803,381Expenses 2013: $3,801,875Net Income 2013: $1,5062013Revenue 2014: $3,828,974Expenses 2014: $3,816,443Net Income 2014: $12,5312014Revenue 2015: $12,208,812Expenses 2015: $4,936,156Net Income 2015: $7,272,6562015Revenue 2016: $5,018,499Expenses 2016: $4,652,651Net Income 2016: $365,8482016Revenue 2017: $4,326,029Expenses 2017: $4,139,557Net Income 2017: $186,4722017Revenue 2018: $4,539,776Expenses 2018: $4,440,054Net Income 2018: $99,7222018Revenue 2019: $4,468,344Expenses 2019: $4,604,146Net Income 2019: -$135,8022019Revenue 2020: $0Expenses 2020: $50,005,387Net Income 2020: -$50,005,3872020Revenue 2021: $58,002,418Expenses 2021: $52,298,752Net Income 2021: $5,703,6662021Revenue 2022: $8,571,940Expenses 2022: $8,936,305Net Income 2022: -$364,3652022Revenue 2023: $4,383,092Expenses 2023: $5,391,957Net Income 2023: -$1,008,8652023Revenue 2024: $8,210,385Expenses 2024: $9,302,866Net Income 2024: -$1,092,4812024Revenue 2025: $9,148,542Expenses 2025: $9,867,677Net Income 2025: -$719,1352025

Highlighted filing

2025

Revenue$9,148,542
Expenses$9,867,677
Net Income-$719,135

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.9$5.47$12.4$9.15$9.87$0.72
2024Detailed filing. Detailed filing data is available for this year.$21.9$9.86$12.1$8.21$9.30$1.09
2023Detailed filing. Detailed filing data is available for this year.$14.7$2.81$11.9$4.38$5.39$1.01
2022Detailed filing. Detailed filing data is available for this year.$18.7$6.81$11.9$8.57$8.94$0.36
2021Detailed filing. Detailed filing data is available for this year.$22.6$7.82$14.8$58.0$52.3$5.70
2020Summary only. Only limited summary data is available for this year.$11.2$3.58$7.62$0.00$50.0$50.0
2019Summary only. Only limited summary data is available for this year.$2.93$1.92$1.01$4.47$4.60$0.14
2018Summary only. Only limited summary data is available for this year.$2.95$1.82$1.13$4.54$4.44$0.10
2017Summary only. Only limited summary data is available for this year.$2.43$1.43$0.99$4.33$4.14$0.19
2016Summary only. Only limited summary data is available for this year.$2.79$1.94$0.84$5.02$4.65$0.37
2015Summary only. Only limited summary data is available for this year.$9.07$1.31$7.75$12.2$4.94$7.27
2014Summary only. Only limited summary data is available for this year.$6.45$5.95$0.51$3.83$3.82$0.01
2013Summary only. Only limited summary data is available for this year.$1.65$1.21$0.44$3.80$3.80$0.00
2012Summary only. Only limited summary data is available for this year.$1.58$1.19$0.39$4.50$4.57$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 6, 2026
Return Version
2024v5.5
Gross Receipts
$11,566,503
Mission and Program Overview

Mission

To support the university of new mexico as the source of innovation management, patent prosecution and licensing of technologies developed at the university.

Supporting the university of new mexico as the source of innovation management, patent prosecution and licensing of technologies developed at the university of new mexico.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,685,152$12,561,341▼ $123,811
Savings and Temporary Cash Investments$3,899,960$2,785,358▼ $1,114,602
Cash and Non-Interest-Bearing Accounts$4,319,514$1,434,632▼ $2,884,882
Accounts Receivable$510,834$714,888▲ $204,054
Land, Buildings, and Equipment, Net$25,986$15,397▼ $10,589
Investments Other Securities$3,448$3,448→ $0
Prepaid Expenses and Deferred Charges$117$0▼ $117
Total Assets$21,940,290$17,853,939▼ $4,086,351
Other Assets Total$495,279$338,875▼ $156,404
Liabilities
Deferred Revenue$6,799,867$3,026,518▼ $3,773,349
Accounts Payable and Accrued Expenses$1,923,176$1,552,643▼ $370,533
Other Liabilities$1,137,592$889,242▼ $248,350
Total Liabilities$9,860,635$5,468,403▼ $4,392,232
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,079,655$12,385,536▲ $305,881
Total Net Assets Fund Balance$12,079,655$12,385,536▲ $305,881
Total Liabilities and Net Assets / Fund Balance$21,940,290$17,853,939▼ $4,086,351

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,168$178,291$192,459
Leasehold Improvements$1,229$3,553$4,782

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$12,685,152-▲ $1,816,439$1,500,000$12,561,341
2023$11,430,303-▲ $1,647,324-$12,685,152
2022$10,278,353-▲ $1,408,553$202,595$11,430,303
2021$12,646,362-▼ $2,193,734$115,000$10,278,353
2020$3,897,683$7,391,377▲ $1,406,870-$12,646,362
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth KuuttilaCEO & Chief Economic Dev. OfficerFT$275,765$165,476$441,241
H Brian MirabalCFOFT$154,070$83,316$237,386
Arlene YoungDirector of CommercializationFT$127,070$80,009$207,079
Cara MichaliszynDirector of Economic DevelopmentFT$131,775$68,461$200,236
Gregg BanningerSr. Innov Manager - Life SciencesFT$100,675$52,013$152,688
Dr Angela Wandinger-nessDirector (thru 7/3/2024)--$137,006$137,006
Larissa CardenasAssistant SecretaryFT$79,636$14,857$94,493
Alex RomeroDirector-$2,000-$2,000
Alton Romig JrDirector-$2,000-$2,000
Charles WellbornDirector-$2,000-$2,000
David FosterDirector-$2,000-$2,000
David GibsonDirector-$2,000-$2,000
Gregg MayerDirector-$2,000-$2,000
John StichmanSecretary/treasurer-$2,000-$2,000
Linda GriegoDirector-$2,000-$2,000
Maria Griego-rabyDirector-$2,000-$2,000
Richard LuarkieDirector-$2,000-$2,000
Riis GonzalesDirector-$2,000-$2,000
Robert FisherDirector-$2,000-$2,000
Robert NathDirector-$2,000-$2,000
Sandra BegayChair-$1,500-$1,500
Michael BuehlerDirector (start 8/2/24)-$1,000-$1,000

Board Members and Trustees

NameTitle
James HollowayVice Chair
David L PerkinsDirector
Dr Donna RileyDirector
Dr Hengameh RaissyDirector
Ellen FisherDirector
Garnett StokesDirector
John StormontDirector
Teresa CostantinidisDirector
Dr Michael RichardsDirector (start 10/11/24)
Patricia WilliamsDirector (start 6/10/25)
Dr Bryce ChackerianDirector (start 7/3/2024)
Dr Donald GodwinDirector (start 7/3/2024)
Kim Sanchez RaelDirector (thru 2/24/25)
Joe ChristianDirector (thru 7/3/24)
Douglas ZiedonisDirector (thru 9/6/2024)

Highest Paid Contractors

ContractorServicesLocationCompensation
Mh2 Technology Law GroupLegal Services1951 KIDWELL DRIVE SUITE 310, Tysons Corner, VA 22182$267,834
Schwegman Lundberg & WoessnerLegal Services1600 TCF TOWER 121 SOUTH EIGHTH ST, Minneapolis, MN 55402$203,650
Mueting Raasch GroupLegal Services111 WASHINGTON AVENUE SOUTH SUITE, Minneapolis, MN 55401$185,515
Cosud Intellectual Property Solutions PLegal Services15 CHESTER AVENUE, White Plains, NY 10601$167,049
Keith A VogtLegal ServicesPO BOX 6247, River Forest, IL 60305$141,896
Revenue and Support

Revenue Composition

Contributions and Grants
$4,418,081
Program Service Revenue
$3,950,266
Investment Income
$780,195
Other Revenue
$0
All Other Contributions
$139,841
Change in Net Assets
$-719,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,148,542
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,025,016
Total Revenue per Audited Statements
$10,173,558
Total Revenue per Form 990
$9,148,542
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,201,788
Salaries, Compensation, and Employee Benefits$2,232,389
Grants and Similar Amounts Paid$433,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$1,673,884$2,508-$1,676,392
Other Salaries and Wages$815,448$203,861-$1,019,309
Current Officers, Directors, Trustees, and Key Employees$669,113$181,481-$850,594
Royalties$688,238--$688,238
Grants to Domestic Individuals$408,500--$408,500
Conferences and Meetings$189,946$114-$190,060
Depreciation Depletion-$166,993-$166,993
Pension Plan Contributions$114,118$28,530-$142,648
Other Employee Benefits$91,370$22,844-$114,214
Payroll Taxes$84,500$21,124-$105,624
Other Expenses$76,543--$76,543
Fees for Service Investment Mgmnt Fees-$62,777-$62,777
Insurance-$49,072-$49,072
Fees for Services Accounting-$40,284-$40,284
Information Technology$20,083$5,020-$25,103
Grants to Domestic Orgs$25,000--$25,000
Fees for Services Other$24,216--$24,216
Office Expenses$17,326$4,333-$21,659
Travel$6,416$1,604-$8,020
Interest-$4,156-$4,156
Total Functional Expenses$9,072,976$794,701$0$9,867,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,867,677
Total Expenses per Audited Statements$9,867,677
Total Expenses per Form 990$9,867,677
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Right to StartOverland Park, KS501(c)(3)General Purpose$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Unm$541,848
Lease Liability$347,394
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

Pursuant to article iv, section b of the bylaws of unm rainforest innovations, there is an executive committee comprised of the chair, vice chair, secretary, treasurer, unm executive vice president for administration, unm vice president for research, unm executive vice president for health sciences, and the president and ceo. During intervals between meetings of the board of directors, the executive committee has and may exercise all of the rights and powers of the board, except those powers denied under statute (nmsa 1978, section 53-8-21).

Form 990, Part VI, Section A, Line 2

The filing organization is a component unit of the university of new mexico (unm). The following officers and directors have a business relationship with one another by virtue of their positions as directors or employees with related entities with the university of new mexico: bryce chackerian, teresa costantindis, ellen fisher, donald godwin, james holloway, david l. Perkins, hengameh raissy, donna riley, michael richards, kim sanchez rael, garnett stokes, john stormont, angela wandinger-ness, patricia williams, and douglas ziedonis.

Form 990, Part VI, Section A, Line 6

The only member of unm rainforest innovations is the regents of the university of new mexico.

Form 990, Part VI, Section A, Line 7A

The university of new mexico regents appoint the members of the board when a position is up for renewal based on a recommendation that unm rainforest innovations submits to the regents.

Form 990, Part VI, Section B, Line 11B

The prepared form 990 and all required schedules are reviewed by unm rainforest innovations' president and ceo and its corporate attorney. It is then provided to the members of the finance and compensation committee of the board of directors at the quarterly committee meeting. The finance and compensation committee reviews and approves the form 990 and schedules in advance before the full board of directors meeting. At its regular quarterly board meeting, all board of directors present approve the filing of the form 990.

Form 990, Part VI, Section B, Line 12C

Each year on or around july, each member of the board of directors must confirm to unm rainforest innovations whether they are in compliance with the unm rainforest innovations conflict of interest policy. Per terms of the policy, board members may respond to the required annual inquiry via e-mail. The responses are reviewed by the unm rainforest innovations outside legal counsel and the unm rainforest innovations executive committee. All board members assert if they have any conflicts at the start of the fiscal year. If a member identifies any conflicts that are related to unm rainforest innovations, the board member abstains during discussions.

Form 990, Part VI, Section B, Line 15

The finance and compensation committee of the unm rainforest innovations board of directors reviews the compensation of the president and ceo, along with all employees, on an annual basis and may approve changes to the president and ceo, if any. The committee uses comparability data and documents deliberations on compensation decisions.

Form 990, Part VI, Section C, Line 19

Unm rainforest innovations made available during the tax year its governing documents, conflicts of interest policy and financial statement to the public upon request.

Filing and Contact Details

Filer

Filer Name
Unm Rainforest Innovations
EIN
85-0413634
Phone
5052727900
Address
101 BROADWAY BLVD NE STE 1100, ALBUQUERQUE, NM 87102

Signing Officer

Name
Elizabeth J Kuuttila
Title
President and CEO
Phone
5052727900
Signed
2026-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth J Kuuttila
Formed
1993
Legal Domicile
Nm
Voting Board Members
28
Independent Board Members
16
Employees
26
Volunteers
16

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
6565 AMERICAS PARKWAY NE STE 600, ALBUQUERQUE, NM 87110
Preparer
Steven Talbot
Phone
5058787200
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IRS990/Desc0UNM RAINFOREST INNOVATIONS IS THE TECHNOLOGY TRANSFER ORGANIZATION SUPPORTING THE UNIVERSITY OF NEW MEXICO ("UNM"), AND THE CORPORATION WAS FORMED UNDER THE STATE OF NEW MEXICO UNIVERSITY RESEARCH PARK AND ECONOMIC DEVELOPMENT ACT. UNM RAINFOREST INNOVATIONS ENDEAVORS TO MAKE IT AS EASY AS POSSIBLE FOR UNM RESEARCHERS AND FACULTY INVENTORS TO DISCLOSE INVENTIONS. UNM RAINFOREST INNOVATIONS PROTECTS TECHNOLOGIES (INTELLECTUAL PROPERTY) DEVELOPED AT UNM THROUGH PATENT AND COPYRIGHT CONSISTENT WITH THE PROVISIONS OF THE FEDERAL BAYH-DOLE ACT. DURING FISCAL YEAR 2025, UNM RAINFOREST INNOVATIONS RECEIVED 46 ISSUED PATENTS FROM THE U.S. PATENT AND TRADEMARK OFFICE AND FILED 63 NEW PATENT APPLICATIONS WITH THE U.S. PATENT AND TRADEMARK OFFICE. ADDITIONALLY, DURING FISCAL YEAR 2025, UNM RAINFOREST INNOVATIONS ENTERED INTO 44 LICENSE AND OPTION TO LICENSE AGREEMENTS. AS THE ECONOMIC DEVELOPMENT ORGANIZATION FOR THE UNIVERSITY OF NEW MEXICO, UNM RAINFOREST INNOVATIONS SEEKS TO FIND VARIOUS INITIATIVES TO CREATE ECONOMIC DEVELOPMENT THAT IS RELEVANT TO THE UNIVERSITY. UNM RAINFOREST INNOVATIONS HAS RECEIVED, IN FISCAL YEAR 2025, ONE GRANT FROM THE CITY OF SANTA FE ECONOMIC DEVELOPMENT TO CONTINUE THE EFFORTS OF THE UNMRI TRIBAL ENTREPRENEURIAL PROGAM.
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IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR OF COMMERCIALIZATION
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR OF ECONOMIC DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt36SR. INNOV MANAGER - LIFE SCIENCES
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