2025-08-14T16:56:33-05:00 2024-09-27 346565596 ERNST & YOUNG US LLP 425 HOUSTON STREET STE 600 FORT WORTH TX 76102 990 2023-09-30 741070544 Southwest Research Institute SOUT 2105222077 6220 Culebra Road San Antonio TX 782385166 Beth Ann Rafferty CFO & Vice President, Finance 2105222077 2025-08-14 0 0 Jodi Rosser P01255710 8173351900 2023 2025-03-06 01:10:19Z Beth Ann Rafferty 6220 Culebra Road San Antonio TX 782385166 927158091 0 X www.swri.org X 1966 TX Benefiting government, industry & the public through innovative science & technology. 14 11 3418 0 67908296 5035356 244879 405403 844279718 914546152 10536036 11254470 575113 203337 855635746 926409362 538107 609612 0 0 412403196 451047184 0 0 0 398855506 440724927 811796809 892381723 43838937 34027639 1020250704 1124893515 255543678 302307283 764707026 822586232 X Southwest Reseach Institute(SwRI) exists to benefit government, industry & the public by conducting innovative applied & basic research; developing/transferring technology; establishing, maintaining & operating research facilities; & providing a challenging and rewarding work environment to fulfill its scientific, charitable, testing for public safety, literary and educational purposes. 0 0 753294792 609612 914110435 Southwest Research Institute exists to benefit government, industry and the public by conducting innovative applied and basic research developing/transferring technology; establishing, maintaining and operating research facilities; and providing a challenging and rewarding work environment to fulfill its scientific, charitable, testing for public safety, literary and educational purposes. During fiscal year 2024, research yielded 559 papers published, 714 technical presentations, 14 technical podcasts, 22 webinars, and 9 streaming technical media presentations, as well as 35 U.S. patent awards, 54 U.S. patent applications filed, and 50 invention disclosures submitted. Areas of research and development included chemistry and chemical engineering, fire safety technology, automotive engineering, powertrain engineering, emissions, space systems, planetary science, fuels and lubricants, intelligent systems, applied power, applied physics, space science, defense and intelligence solutions, material science, structural mechanical engineering, and solar system science and exploration. The 2024 Annual Report is available at https://www.swri.org/newsroom/annual-report/2024/2024-annual-report. Additional information regarding federal government technical programs is available by searching for Southwest Research Institute's single audit at http://harvester.census.gov/facdissem/. As a nonprofit research and development organization, SwRI invests in innovation, using our robust internal research and development (IR&D) program to expand and enhance our expertise and encourage our staff's professional growth. In 2024, SwRI initiated 119 IR&D new projects, investing more than $11 million in internal research, including quick-look and focused research programs. IR&D fulfills the Institute's objective of conducting innovative activities for the benefit of industry, the government and humankind. Through internal research, we increase our technical capabilities, expand our reputation as a leader in science and technology, and invest in technology our clients may need in the future. The program also allows engineers and scientists to grow in their technical fields by providing freedom to explore innovative and unproven concepts. Internal Research Projects for 2024 are described at https://www.swri.org/newsroom/annual-report/2024/2024-annual-report. 753294792 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 1 0 1 808 0 1 3418 1 1 1 1 CH 0 0 0 0 0 0 0 0 1 0 X 14 11 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OK CA NH OR X Beth Ann Rafferty 2106845111 6220 Culebra Road San Antonio TX 782385166 Adam Hamilton President/CEO/Director 40.00 0.10 X X 1661889 0 56831 Walter D Downing Jr Exec VP/COO/Director 40.00 0.10 X X 1020498 0 58956 J Dan Bates-See Sch J Part III Director/Former Pres- Ret. 2.00 0.10 X 341231 0 0 Milton B Lee II Director 3.00 0.10 X 40000 0 0 Phillip J Pfeiffer Director 3.00 0.10 X 40750 0 0 Ricardo Romo Director (Ended 12/31/2023) 1.00 0.10 X 16000 0 0 Wayne S Alexander Director 2.00 0.10 X 39000 0 0 Jan Newton Director - Chair (2024) 4.00 0.10 X 42500 0 0 Eugene L Ames Director 2.00 0.10 X 36000 0 0 Phillip D Green Director 3.00 0.10 X 41000 0 0 Sam G Dawson Director - Chair (2023) 2.00 0.10 X 61750 0 0 Mary Ann Rankin Director (Ended 12/31/2023) 1.00 0.10 X 36000 0 0 Kimberly S Lubel Director - Vice Chair (2024) 3.00 0.10 X 37000 0 0 David S Zachry Director 2.00 0.10 X 0 0 0 Esperanza Hope Andrade Director (Begin 01/01/2024) 2.00 0.10 X 0 0 0 Robert G Newman Director (Begin 01/01/2024) 2.00 0.10 X 0 0 0 James L Burch Senior Vice President 40.00 0.00 X 735215 0 57665 Beth Ann Rafferty CFO/Secretary/VP-Finance 40.00 0.00 X 593011 0 54770 Steven D Marty Vice President 40.00 0.00 X 499729 0 58387 Daniel W Stewart Vice President 40.00 0.00 X 465826 0 64931 C Nils Smith Vice President 40.00 0.00 X 522984 0 65004 Robin Canup Vice President 40.00 0.00 X 502992 0 65301 Steven W Dellenback Vice President 40.00 0.00 X 482465 0 59688 Paul Easley Vice President 40.00 0.00 X 365864 0 52924 Monica R Trollinger General Counsel 40.00 0.00 X 458288 0 67215 Anthony Magaro Vice President 40.00 0.00 X 401279 0 57880 Jim R Keys Vice President 40.00 0.00 X 360666 0 44043 Ben H Thacker Vice President 40.00 0.00 X 394772 0 55193 Delia Aguilar Treasurer & Asst. Corp Secretary 40.00 0.00 X 283098 0 40333 Byrl B Brockman Assistant Treasurer 40.00 0.00 X 228777 0 57549 Joe A McDonough Vice President 40.00 0.00 X 280860 0 61900 Michael K McLelland Vice President 40.00 0.00 X 412233 0 57084 Jose Navarro Vice President (Begin 12/07/2023) 40.00 0.00 X 268191 0 58120 Sol A Stern Associate Vice President 40.00 0.00 X 568462 0 56310 Scott J Bolton Associate Vice President 40.00 0.00 X 510829 0 72038 Stephan A Fuselier Executive Director 40.00 0.00 X 457963 0 35487 Harold F Levinson Program Director 40.00 0.00 X 390009 0 65149 Brian J Schimmoller President-Signature Science 40.00 0.00 X 370742 0 21872 Linda Boehme- Ret 5323 Former Treasurer 40.00 0.00 X 259151 0 43211 13227024 0 1387841 1177 1 1 0 Millennium Space Systems 2265 E El Segundo Blvd El Segundo CA 90245 R&D Services 19089549 Keller-Martin Construction 4930 Enterprise Drive San Antonio TX 78249 Construction 10508722 Sabreliner Aviation LLC 6 Trautman Ind Ct Ste Genevieve MO 63670 Engineering 9278920 Actalent Inc 70 NE Interstate 410 Loop Ste 1104 San Antonio TX 78216 Staffing Agency 6888387 Chevron Phillips Chemical 10001 Six Pines Drive The Woodlands TX 77380 Fuel Provider 6868426 536 152760 252643 252638 405403 Research & Development 541700 865867431 797935780 67931651 Signature Science 541700 48678721 48678721 914546152 11713542 11713542 67 67 395082 191812 203270 203270 203270 97845 556917 -459072 -459072 -435717 -23355 926409362 846178784 67908296 11916879 579612 579612 30000 30000 12499514 5987559 6511955 790004 589322 200682 346289578 290784616 55504962 27763551 23657853 4105698 38727993 30415043 8312950 24976544 21378292 3598252 2487243 2487243 402154 402154 685237 685237 360777 360777 24460807 18164517 6296290 2040862 1369120 671742 25299488 10424340 14875148 7121850 6245365 876485 548675 548675 20474 20474 36597520 15638300 20959220 Project cost-non labor 290203331 290203331 Income Tax 1436582 1436582 Purchased Services 42086063 31074031 11012032 Equipment Rental 4962784 4742411 220373 2011080 2011080 892381723 753294792 139086931 0 40194 530388 245129619 270174971 209010975 214753391 10954079 9747785 8850166 8864818 1001031164 516866130 436003074 484165034 2898458 3255257 107364139 133401871 1020250704 1124893515 205597684 249790228 49945994 52517055 255543678 302307283 X 764707026 822586232 764707026 822586232 1020250704 1124893515 X 34027639 26688312 -2836745 X 0 1 X 1 1 1 X 394590 233021 414259 244879 405403 1692152 696215996 726300444 739249529 784921127 846614501 3793301597 100000 100000 100000 100000 100000 500000 696710586 726633465 739763788 785266006 847119904 3795493749 126264 181278 339957 194563 152760 994822 163510545 193201738 237381584 240909744 258974218 1093977829 163636809 193383016 237721541 241104307 259126978 1094972651 2700521098 9830141 21886262 2616912 11037489 11916880 57287684 219737 2552657 1671390 3977931 8421715 10049878 21886262 5169569 12708879 15894811 65709399 706760464 748519727 744933357 797974885 863014715 3861203148 0.69940 0.72290 0.01700 0.01700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 685237 685237 752609555 753294792 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 625493 699880 649748 685237 2660358 250000 250000 250000 250000 1000000 1500000 27156790 27156790 590541930 329363641 261178289 35306692 2801777 32504915 297514380 184700712 112813668 50511372 50511372 484165034 Tianjin SwARC Investment 1831600 Post Retirement Medical Fund 116111131 Deferred Tax Asset 504048 Deferred Compensation 14795532 Pension Asset 159560 133401871 Post Retirement Medical Benefits Obligation 37721523 Deferred Compensation Obligation 14795532 52517055 X Part X, Line 2: From Southwest Research Institute consolidated financial statements (collectively, the Institute) that include the filing organization: Management has evaluated their material tax positions, which include such matters as the tax exempt status of the entity and various positions relative to potential sources of unrelated business income. As of September 27, 2024 and September 29, 2023, there were no uncertain tax benefits identified and recorded as a liability. East Asia and the Pacific 1 3 Program Services Marketing and project coordination for SwRI's Research and Development efforts. 380465 East Asia and the Pacific 1 45 Program Services Investment 4391375 2 48 0 0 2 48 4771840 0 4771840 0 0 1 0 0 0 Part I, line 3: Column (f) - Accrual Method 1 Communities of Churches for Social Action 1023 N Pine Ste 146 San Antonio TX 78202 742937784 501(c)(3) 28000 0 General Support ESSAR Recreation Association 6220 Culebra Rd San Antonio TX 78238 741490851 501(c)(4) 48762 0 General Support Texas Biomedical Forum PO Box 6648 San Antonio TX 78209 237080207 501(c)(3) 17000 0 General Support The University of Texas at San Antonio One UTSA Circle San Antonio TX 78249 741717115 Gov't 10000 0 General Support United Way PO Box 898 San Antonio TX 78230 741272381 501(c)(3) 357000 0 General Support West Point Association of Graduates 698 Mills Road West Point NY 10996 141260763 501(c)(3) 44600 0 General Support University Corporation for Atmospheric Research PO Box 3000 Boulder CO 80307 840412668 501(c)(3) 10000 0 General Support Texas Academy of Medicine Engineering Science & Technology 3925 W Braker Ln Ste 38018 MS D8800 Austin TX 78759 201014851 501(c)(3) 15000 0 General Support 7 1 Scholarships 7 30000 Part I, Line 2: The assistance amounts listed are provided to the entities as donations in accordance with the applicable stated purposes of Southwest Research Institute. Grants are provided to tax-exempt organizations for general support purposes. Scholarships are monitored by Scholarship Management Services. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Adam Hamilton President/CEO/Director 1081105 0 548000 0 32784 0 33096 0 23735 0 1718720 0 0 0 Walter D Downing Jr Exec VP/COO/Director 729049 0 239875 0 51574 0 33096 0 25860 0 1079454 0 0 0 James L Burch Senior Vice President 582253 0 121914 0 31048 0 33096 0 24569 0 792880 0 0 0 Beth Ann Rafferty CFO/Secretary/VP-Finance 448389 0 114602 0 30020 0 33096 0 21674 0 647781 0 0 0 Sol A Stern Associate Vice President 551274 0 0 0 17188 0 33096 0 23214 0 624772 0 0 0 C Nils Smith Vice President 403358 0 110643 0 8983 0 33096 0 31908 0 587988 0 0 0 Scott J Bolton Associate Vice President 493641 0 0 0 17188 0 33096 0 38942 0 582867 0 0 0 Robin Canup Vice President 473013 0 0 0 29979 0 33096 0 32205 0 568293 0 0 0 Steven D Marty Vice President 394265 0 88176 0 17288 0 33096 0 25291 0 558116 0 0 0 Steven W Dellenback Vice President 372979 0 100832 0 8654 0 33096 0 26592 0 542153 0 0 0 Daniel W Stewart Vice President 375376 0 81776 0 8674 0 33096 0 31835 0 530757 0 0 0 Monica R Trollinger General Counsel 362620 0 90679 0 4989 0 33096 0 34119 0 525503 0 0 0 Stephan A Fuselier Executive Director 425875 0 0 0 32088 0 33096 0 2391 0 493450 0 0 0 Michael K McLelland Vice President 405334 0 0 0 6899 0 33096 0 23988 0 469317 0 0 0 Anthony Magaro Vice President 281334 0 79791 0 40154 0 31471 0 26409 0 459159 0 0 0 Harold F Levinson Program Director 381148 0 0 0 8861 0 33096 0 32053 0 455158 0 0 0 Ben H Thacker Vice President 280467 0 83250 0 31055 0 31119 0 24074 0 449965 0 0 0 Paul Easley Vice President 292160 0 62022 0 11682 0 29823 0 23101 0 418788 0 0 0 Jim R Keys Vice President 288545 0 43380 0 28741 0 31449 0 12594 0 404709 0 0 0 Brian J Schimmoller President-Signature Science 370422 0 0 0 320 0 9900 0 11972 0 392614 0 0 0 Joe A McDonough Vice President 273392 0 0 0 7468 0 28259 0 33641 0 342760 0 0 0 J Dan Bates-See Sch J Part III Director/Former Pres- Ret. 0 0 0 0 341231 0 0 0 0 0 341231 0 0 0 Jose Navarro Vice President (Begin 12/07/2023) 260860 0 0 0 7331 0 26646 0 31474 0 326311 0 0 0 Delia Aguilar Treasurer & Asst. Corp Secretary 253211 0 0 0 29887 0 27585 0 12748 0 323431 0 0 0 Linda Boehme- Ret 5323 Former Treasurer 184166 0 50598 0 24387 0 18221 0 24990 0 302362 0 0 0 Byrl B Brockman Assistant Treasurer 224494 0 0 0 4283 0 22994 0 34555 0 286326 0 0 0 Part I, Line 1a First class or charter travel: The Institute's travel policy generally does not permit first class or charter travel. There are a small number of exceptions for approved medical accomodations or other business required special circumstances. Tax indemnification and gross-up payments: SwRI provided additional cash compensation (reported on the W-2 and Schedule J) to partially offset the economic impact of a grandfathered taxable benefit to one officer. This represents .24% of total officer compensation. Health or social club dues/fees: SwRI reimburses the membership cost for one officer at a social club. The personal portion is included in compensation and any charges related to personal use are paid by the officer. Part I, Line 4b Also referencing Form 990, Part VII, Sec. A., Col. (D) and Schedule J, Part II, Col. (B) regarding J. Dan Bates. The Institute has a noncontributory defined benefit pension plan, which is a grandfathered 457 plan, that was granted to Institute officers who were employed as of April 30, 1981. Benefits are provided through a group annuity contract. The last active participant, J. Dan Bates, retired in September, 2014. He will receive a monthly benefit for his lifetime, with a twenty-year guarantee. The actual benefit paid in 2023 was $301,981. Additionally, he received Director's Fees of $39,250. Part I, Line 7 The Institute has Officer and Executive Incentive Compensation Plans which are subject to oversight by the Compensation Committee and the Board of Directors. The plans are based on the Institute's mission and use both strategic and operational performance metrics as the basis for annual nonfixed payments, if any. All amounts paid under the incentive plans are reviewed and approved by the Board Compensation Committee. Incentive compensation is paid to other employees, including one of the five highest compensated employees, as determined by internal management. Amounts paid during calendar year 2023 are shown on Sch. J, Part II, Col. (B)(ii). Heather Bates Family member of J. Dan Bates,Director/Former President 200682 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Julia Fey Family member of Walter D. Downing Jr., Exec. V.P., COO and Director 122767 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Carter Schmitz Family member of Adam Hamilton, President, CEO and Director 68056 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 William Rafferty Family member of Beth Ann Rafferty, CFO, Secretary, VP-Finance 246865 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Paul Easley II Family member of Paul Easley, Vice President 105791 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Zachary Hamilton Family member of Adam Hamilton, President, CEO and Director 62720 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Cynthia Dellenback Family member of Steven W. Dellenback, Vice President 69780 Independent Contractor 0 Kristi Magaro Family member of Anthony Magaro, Vice President 129340 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Anthony John Magaro Family member of Anthony Magaro, Vice President 110301 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Pelin C Keys Family member of Jim Keys, Vice President 91196 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 Olivia Schmitz Family member of Adam Hamilton, President, CEO and Director 88914 Employment - Amount of transaction includes gross wages and employer provided retirement and fringe benefits. 0 X Laser Trumpf TruFlow KW CO2 1 252638 FMV X New Holland T4.110F Tractor 1 0 See Part II 1 0 1 0 Part I, Line 33: Per Southwest Research Institute's capitalization policy, only assets that exceed $5,000 are capitalized. Since the FMV of the New Holland T4 was less than $5,000 the non-cash contribution was not recorded on Southwest Research Institute's financial statements. Schedule M, Part I, Column (b) Part I, Column (b) reports the number of items received. Form 990, Part VI, Section A, line 2 Sam G. Dawson, Director and Phillip D. Green, Director- Business Relationship. Form 990, Part VI, Section B, line 11b A summary of Form 990 was reviewed with the Audit Committee of the Board of Directors. Schedule J compensation data was reviewed with the Compensation Committee. A copy of the completed Form 990, including all schedules, was electronically provided to all board members prior to filing. Form 990, Part VI, Section B, line 12c Directors and Officers of the organization are obligated under the conflict of interest policy to report all conflicts, to disclose all interests that could arise to conflicts, and all covered family and business relationships when completing the required annual disclosure questionnaire. The General Counsel's Office monitors the conflict of interest policy and reviews the annual disclosure questionnaires. Potential conflicts of interest are reviewed by the non-interested directors or committee members. Failure to disclose a conflict of interest will result in appropriate disciplinary and corrective action as determined by the Board or committee. Form 990, Part VI, Section B, line 15 Determination of Compensation: SwRI's strategy is to provide compensation that is fair, reasonable, and consistent with compensation paid for similar work in relevant labor areas and with compensation paid by Institute competitors in the markets for scientific research and development (R&D) and other technical services. The principal compensation authority is vested with the Board of Directors; however, the President of the Institute retains the authority to determine how various programs will be structured and administered subject to the oversight of the Compensation Committee of the Board of Directors. The Committee uses reputable compensation survey data, gathered annually, to compare the compensation of Officers to peer groups, within the relevant market segments, targeting an appropriate percentile corresponding to performance both for the year in question, and considering longer-term performance trends for total compensation. This review shall include comparative analysis of compensation paid by the Institute to compensation paid by local, sector, and national applied research and development organizations of similar size, both for profit and nonprofit organizations. The Committee engages the services of an external compensation advisor when conducting such comparability studies. Compensation Committee Review and Approval: The Board of Director delegates to the Committee the responsibility, in consultation with the President to review, approve and inform the Board of Directors of the changes in annual compensation and benefits for all Officers, except the President and Executive Vice President. The Committee will review the performance of the President and Executive Vice President and make a recommendation to the Board of Director for the total compensation for both of these officers. Adequate documentation is created contemporaneously and maintained to substantiate the basis for the Committee's and the Board of Directors' determination of total compensation for the President and all other Officers. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy and financial statements are available to the public upon written request to the organization's Treasurer. Form 990, Part XI, line 9: CHANGE IN OBLIGATION FOR POST RETIREMENT BENEFIT (NET) -2,836,745. Signature Science LLC 8329 N Mopac Blvd Austin TX 78759 900041499 Scientific Research and Development TX 48682168 33734734 Southwest Research Institute ESSAR Recreation Association 6220 Culebra Road San Antonio TX 78238 741490851 Improve the morale and welfare of members TX 501(c)(4) SWRI 1 Tom Slick Memorial Trust for SwRI 6220 Culebra Road San Antonio TX 78238 237225476 Support for Southwest Research Institute's scientific & educational purposes TX 501(c)(3) Line 12a, I SWRI 1 Tianjin SwARC Automotive Research Laboratory Co Ltd CATARC ETL Bldg Tianshanlukou Che Tianjin Hedong District CH 000000000 Research and Development CH N/A C 4270003 6145631 0.50000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 Tom Slick Memorial Trust for SwRI C 152760 GL Transaction Amt ESSAR Recreation Association N 5195116 Asset Book Value Tianjin SwARC Automotive Research Laboratory Co Ltd S 1170888 GL Transaction Amt