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Underwriters Laboratories
Underwriters Laboratories reported $46.5 million in revenue and $110.2 million in expenses for calendar year 2024. Of every $100 it spent, $62.30 went to program services, $37.70 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 80.9% of the total. Government grants made up 19.0%. The highest compensation it reported for one person was $5,600,065 (EVP & CFO - UL SOLUTIONS). 127 people received more than $100,000 in reportable compensation. Revenue rose 54% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $110MFor context, the median across 185 covered public & societal benefit charities: $88.81 programs, $11.18 management, $0.01 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $46M- Contributions & grants (non-government)$0.09 $40,000
- Government grants$19.01 $8.8M
- Program service revenue$0.04 $17,000
- Investment income$80.86 $38M
Other revenue was negative: −$1,856. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 62.3% | 84.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 37.7% | 10.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 19.1% | 83.8% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 19.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $5,600,065 | $357,133 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 5.08% | 1.52% |
| People paid over $100,000 Part VII, line 2 | 127 | 12 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 121.6 | 10.5 |
| Independent voting board members Part VI 1a–1b | 8 of 8 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EVP & CFO - UL SOLUTIONS Former, 0.0 hrs/week | $0 | $5,600,065 | $0 | $5,600,065 |
| FMR President & CEO Former, 0.0 hrs/week | $2,469,462 | $1,319,016 | $0 | $3,788,478 |
| FMR EVP & CLO -UL SOLUTIONS Former, 0.0 hrs/week | $0 | $2,018,300 | $0 | $2,018,300 |
| SVP, CLO, CORPORATE SECRETARY Officer, 40.0 hrs/week | $0 | $888,367 | $52,200 | $940,567 |
| SVP, CFO Officer, 30.0 hrs/week | $0 | $839,790 | $62,116 | $901,906 |
| INTERIM PRES SVP,CRO(EFF 1/24) Officer, 60.0 hrs/week | $792,461 | $0 | $49,173 | $841,634 |
| VP & SENIOR TECHNICAL ADVISOR Officer, 60.0 hrs/week | $569,905 | $0 | $55,839 | $625,744 |
| SVP, COO Officer, 60.0 hrs/week | $580,806 | $0 | $20,854 | $601,660 |
127 people received more than $100,000 in reportable compensation from Underwriters Laboratories (Part VII, line 2). Compensation of current officers, directors and key employees totaled $5.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b8 · 8 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5233
Correct a figure or respond
Every number above is copied from Underwriters Laboratories's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Underwriters Laboratories, you can publish a response that is linked from this page.
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Of every $100 Underwriters Laboratories spent in 2024, $62.30 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Underwriters Laboratories's spending goes to programs?
In calendar year 2024, Underwriters Laboratories reported that 62.3% of its $110.2 million in expenses went to program services, 37.7% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Underwriters Laboratories pay its top executive?
The largest total compensation Underwriters Laboratories reported for one person in calendar year 2024 was $5,600,065, for the role of EVP & CFO - UL SOLUTIONS (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Underwriters Laboratories get its money?
Of $46.5 million in revenue in calendar year 2024, 19.1% came from contributions and grants (including 19.0% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is Underwriters Laboratories a registered charity?
The IRS lists EIN 36-1892375 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513189349311081 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202413189349309316 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333189349314128 · read the filing
- 2021: Form 990 for calendar year 2021, object 202213199349327091 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143199349328514 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023189349313027 · read the filing
All filings for EIN 36-1892375: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.