Civic Intelligence

Kestrel Institute

EIN 94-2750021 • 501(c)3 • Palo Alto, CA

Profile

Kestrel institute performs research on methods and tools for software assurance - using mathematical models and properties of algorithms and data structures to ensure that software performs predictably and reliably. Our research is communicated to the wider academic community through journals, conferences and technical meetings. Our tools are used by u.s. And international universities. We occasionally host students for brief periods to work on projects aligned with our research interests.

3260 Hillview Avenue 2nd FloorPalo Alto, CA 94304-1220

www.kestrel.edu

Siviq Scores

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

Liabilities / Assets

78th percentile

0.39x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

79th percentile

0.45x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-13%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,556,619

Up $469,314 (+11%) from 2023

Liabilities

Up

$1,756,279

Up $37,755 (+2.2%) from 2023

Net Assets

Up

$2,800,340

Up $431,559 (+18%) from 2023

Revenue

Down

$3,874,883

Down $556,455 (-13%) from 2023

Expenses

Down

$3,443,324

Down $622,523 (-15%) from 2023

Net Income

Up

$431,559

Up $66,068 (+18%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,764,407Liabilities 2011: $1,460,533Net Assets 2011: $2,303,8742011Assets 2012: $4,224,682Liabilities 2012: $1,599,238Net Assets 2012: $2,625,4442012Assets 2013: $4,948,428Liabilities 2013: $2,111,104Net Assets 2013: $2,837,3242013Assets 2014: $5,046,845Liabilities 2014: $2,124,715Net Assets 2014: $2,922,1302014Assets 2015: $5,019,938Liabilities 2015: $2,102,276Net Assets 2015: $2,917,6622015Assets 2016: $4,697,713Liabilities 2016: $1,982,528Net Assets 2016: $2,715,1852016Assets 2017: $4,396,458Liabilities 2017: $1,881,253Net Assets 2017: $2,515,2052017Assets 2018: $4,007,560Liabilities 2018: $1,848,161Net Assets 2018: $2,159,3992018Assets 2019: $2,639,700Liabilities 2019: $1,507,695Net Assets 2019: $1,132,0052019Assets 2020: $2,895,218Liabilities 2020: $1,869,934Net Assets 2020: $1,025,2842020Assets 2021: $2,764,272Liabilities 2021: $1,354,606Net Assets 2021: $1,409,6662021Assets 2022: $3,765,583Liabilities 2022: $1,762,293Net Assets 2022: $2,003,2902022Assets 2023: $4,087,305Liabilities 2023: $1,718,524Net Assets 2023: $2,368,7812023Assets 2024: $4,556,619Liabilities 2024: $1,756,279Net Assets 2024: $2,800,3402024

Highlighted filing

2024

Assets$4,556,619
Liabilities$1,756,279
Net Assets$2,800,340

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $5,081,160Expenses 2011: $4,988,707Net Income 2011: $92,4532011Revenue 2012: $6,343,985Expenses 2012: $6,022,415Net Income 2012: $321,5702012Revenue 2013: $7,224,441Expenses 2013: $7,012,561Net Income 2013: $211,8802013Revenue 2014: $6,622,218Expenses 2014: $6,537,412Net Income 2014: $84,8062014Revenue 2015: $4,928,796Expenses 2015: $4,933,264Net Income 2015: -$4,4682015Revenue 2016: $4,384,643Expenses 2016: $4,584,316Net Income 2016: -$199,6732016Revenue 2017: $4,735,125Expenses 2017: $4,935,105Net Income 2017: -$199,9802017Revenue 2018: $4,301,902Expenses 2018: $4,657,708Net Income 2018: -$355,8062018Revenue 2019: $2,443,519Expenses 2019: $3,470,913Net Income 2019: -$1,027,3942019Revenue 2020: $3,527,984Expenses 2020: $3,634,705Net Income 2020: -$106,7212020Revenue 2021: $3,386,483Expenses 2021: $3,047,131Net Income 2021: $339,3522021Revenue 2022: $4,129,396Expenses 2022: $3,535,772Net Income 2022: $593,6242022Revenue 2023: $4,431,338Expenses 2023: $4,065,847Net Income 2023: $365,4912023Revenue 2024: $3,874,883Expenses 2024: $3,443,324Net Income 2024: $431,5592024

Highlighted filing

2024

Revenue$3,874,883
Expenses$3,443,324
Net Income$431,559

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.56$1.76$2.80$3.87$3.44$0.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.09$1.72$2.37$4.43$4.07$0.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.77$1.76$2.00$4.13$3.54$0.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.76$1.35$1.41$3.39$3.05$0.34
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.90$1.87$1.03$3.53$3.63$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$1.51$1.13$2.44$3.47$1.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.01$1.85$2.16$4.30$4.66$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.40$1.88$2.52$4.74$4.94$0.20
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.70$1.98$2.72$4.38$4.58$0.20
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.02$2.10$2.92$4.93$4.93$0.00
2014Detailed filing. Detailed filing data is available for this year.$5.05$2.12$2.92$6.62$6.54$0.08
2013Summary only. Only limited summary data is available for this year.$4.95$2.11$2.84$7.22$7.01$0.21
2012Summary only. Only limited summary data is available for this year.$4.22$1.60$2.63$6.34$6.02$0.32
2011Summary only. Only limited summary data is available for this year.$3.76$1.46$2.30$5.08$4.99$0.09
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$4,129,396
Mission and Program Overview

Mission

Kestrel institute performs research on methods and tools for software assurance - using mathematical models and properties of algorithms and data structures to ensure that software performs predictably and reliably. Our research is communicated to the wider academic community through journals, conferences and technical meetings. Our tools are used by u.s. And international universities. We occasionally host students for brief periods to work on projects aligned with our research interests.

Scientific research and development on methods for software assurance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,390,862$2,822,646▲ $431,784
Accounts Receivable$310,608$880,499▲ $569,891
Prepaid Expenses and Deferred Charges$51,585$54,685▲ $3,100
Land, Buildings, and Equipment, Net$10,017$6,554▼ $3,463
Cash and Non-Interest-Bearing Accounts$200$199▼ $1
Total Assets$2,764,272$3,765,583▲ $1,001,311
Other Assets Total$1,000$1,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,354,606$1,762,293▲ $407,687
Total Liabilities$1,354,606$1,762,293▲ $407,687
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,409,666$2,003,290▲ $593,624
Total Net Assets Fund Balance$1,409,666$2,003,290▲ $593,624
Total Liabilities and Net Assets / Fund Balance$2,764,272$3,765,583▲ $1,001,311

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$602$301,226$301,828
Leasehold Improvements$5,952$88,912$94,864
Equipment$0$10,570$10,570
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eric SmithChief Executive OfficerPT$236,631$73,597$310,228
Douglas SmithChief Computer ScientistFT$239,642$55,916$295,558
Stephen FitzpatrickChief Financial Officer &FT$206,919$32,506$239,425
Marcel BeckerComputer ScientistFT$177,094$54,124$231,218
Stephen WestfoldAssoc Director, Corp Sec &PT$185,669$14,341$200,010
Jeff KitsonSystems ManagerPT$136,207$41,565$177,772
Alessandro CoglioComputer ScientistPT$126,267$36,019$162,286
Christoph KreitzComputer ScientistPT$136,403-$136,403
Charles MccarthyComputer ScientistPT$100,187$23,623$123,810
Cordell GreenExecutive Director & Chief-$57,455$36,887$94,342

Board Members and Trustees

NameTitle
David DesanteDirector
Margarita AltamiranoDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Leidos INCResearch And Development1750 PRESIDENT ST, Reston, VA 20190$199,462
Caci INCDevelopment, Integration And Maintenance15 VREELAND ROAD FLORHAM PARK, Florham Park, NJ 07932$195,327
Revenue and Support

Revenue Composition

Contributions and Grants
$4,126,173
Program Service Revenue
$0
Investment Income
$3,223
Other Revenue
$0
All Other Contributions
$161,480
Change in Net Assets
$593,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,523,125
Other Expenses$1,012,647
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$1,055,205$84,359-$1,139,564
Other Salaries and Wages$718,241$65,365-$783,606
Other Employee Benefits$461,573--$461,573
Fees for Services Other$175,343--$175,343
Payroll Taxes$138,382--$138,382
Fees for Services Accounting-$64,477-$64,477
Occupancy$45,600--$45,600
Information Technology-$13,036-$13,036
Travel$10,892--$10,892
Depreciation Depletion-$3,462-$3,462
Other Expenses$52,976$1,057-$1,057
Fees for Services Legal-$963-$963
All Other Expenses-$-412-$-412
Total Functional Expenses$3,268,980$266,792$0$3,535,772
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
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 B, Line 11B

Form 990 is prepared by an independent cpa firm in conjunction with the organization's accountant. A draft of form 990 is then reviewed by kestrel's internal accountant, and corrections/modifications are then made by the outside cpa. The revised draft is then reviewed by the cfo. Any concerns that the cfo has are raised with the cpa firm and, when necessary, the director, and a consensus achieved. The return is then finalized and electronically filed with the taxing authorities.

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

The conflict of interest policy applies to all employees. It precludes "employment, consulting, or other business relationships with a competitor, customer or supplier of the company, or investing in any competitor, customer or supplier (except moderate holdings of publicly-traded securities) unless you have advance written permission of the corporate officer responsible for your unit after consultation with the contract administrator". There are no written statements on monitoring or enforcement.

Form 990, Part VI, Section B, Line 15

The compensation for each employee is reviewed by the director (dr. Green), the associate director (dr. Westfold) and the chief financial officer (dr. Fitzpatrick). In addition to the performance of the employee, they take into consideration several compensation surveys, published changes in the cost of living, and their knowledge of compensation at employers who compete with kestrel institute for researchers. The director's compensation is additionally reviewed by the board. The last review was on september 1, 2021.

Form 990, Part VI, Section C, Line 19

The organization's tax return, form 1023, governing documents and conflict of interest policy are available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
Kestrel Institute
EIN
94-2750021
Phone
6504936871
Address
3260 HILLVIEW AVENUE 2ND FLOOR, PALO ALTO, CA 94304-1220

Signing Officer

Name
Dr Stephen Fitzpatrick
Title
CFO
Phone
6504936871
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Cordell Green
Formed
1981
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
17
Volunteers
2

Preparer

Firm
Bpm Llp
Address
4200 BOHANNON DRIVE SUITE 250, MENLO PARK, CA 94025-1021
Preparer
Carolyn R Amster
Phone
6508556800
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Afrl fight tonight, bae fight tonight, darpa pearls

Form 990, Part III, Line 3

CACI F3I-2

Raw XML AppendixShowing 400 of 606 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR & CHIEF
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSOC DIRECTOR, CORP SEC &
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHIEF FINANCIAL OFFICER &
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHIEF COMPUTER SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt7COMPUTER SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt8SYSTEMS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt9COMPUTER SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt10COMPUTER SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt11COMPUTER SCIENTIST
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IRS990/MissionDesc0KESTREL INSTITUTE PERFORMS RESEARCH ON METHODS AND TOOLS FOR SOFTWARE ASSURANCE - USING MATHEMATICAL MODELS AND PROPERTIES OF ALGORITHMS AND DATA STRUCTURES TO ENSURE THAT SOFTWARE PERFORMS PREDICTABLY AND RELIABLY. OUR RESEARCH IS COMMUNICATED TO THE WIDER ACADEMIC COMMUNITY THROUGH JOURNALS, CONFERENCES AND TECHNICAL MEETINGS. OUR TOOLS ARE USED BY U.S. AND INTERNATIONAL UNIVERSITIES. WE OCCASIONALLY HOST STUDENTS FOR BRIEF PERIODS TO WORK ON PROJECTS ALIGNED WITH OUR RESEARCH INTERESTS.
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IRS990/OccupancyGrp/TotalAmt045600
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IRS990/OtherExpensesGrp/Desc1COMPUTER ALLOCATION
IRS990/OtherExpensesGrp/Desc2OVERHEAD LABOR
IRS990/OtherExpensesGrp/Desc3FEES, FILINGS AND TAXES
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IRS990/PrincipalOfficerNm0DR CORDELL GREEN
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt04291278
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt017754734
IRS990ScheduleA/TotalSupportAmt017789584
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1239642
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2206919
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3177094
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt4185669
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt5136207
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt6126267
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount014477
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount17412
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount29660
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt60
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt52122

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