Appointment brings more than 30 years of financial leadership to nonprofit advancing health research for Veterans
SAN ANTONIO (November 10) — The Foundation for Advancing Veterans’ Health Research (FAVHR) announced today the appointment of VelocityTX Chief Financial Officer Rick Hernandez to the organization’s Board of Trustees, where he will serve as treasurer.
Based in San Antonio, FAVHR is an independent nonprofit affiliated with the South Texas Veterans Health Care System and the Audie L. Murphy Memorial Veterans’ Hospital. The organization supports and administers research and education programs conducted through VA, helping investigators access funding and partnerships beyond traditional VA research channels to advance new approaches to Veteran health care.
“Rick brings a combination of financial expertise, nonprofit leadership and a strong understanding of San Antonio’s research and innovation community,” said Alicia Swan, PhD, Chair of the FAVHR Board of Trustees. “That experience will be invaluable as we continue supporting the researchers and programs working to improve health outcomes for Veterans. We are pleased to welcome Rick to the board and look forward to his leadership as treasurer.”
Hernandez brings more than 30 years of financial executive experience spanning Fortune 500 public companies, private equity-backed startups, and nonprofit organizations. He joined the VelocityTX leadership team in 2022 and today oversees the organization’s financial operations as it advances bioscience, military medical innovation and economic development in San Antonio.
Rick’s appointment builds on a record of nonprofit and civic board service. Hernandez previously served on the board of Alamo Angels, including as treasurer, and in 2026 joined the San Antonio CFO Leadership Council Advisory Board, where he works alongside other senior finance executives to strengthen the region’s financial leadership community.
“FAVHR plays an important role in making sure promising research has the structure and support needed to move forward,” Hernandez said. “San Antonio has an extraordinary concentration of expertise in military medicine and health research, and I’m honored to contribute my experience to an organization focused so directly on improving the lives of Veterans.”
Established in 1989 following federal legislation authorizing nonprofit research and education corporations affiliated with VA medical centers, FAVHR works with more than 50 investigators conducting research through the South Texas Veterans Health Care System. Its supported research spans areas including traumatic brain injury, trauma, mental health, infectious disease, oncology, cardiology and other conditions affecting Veterans.
About the Foundation for Advancing Veterans’ Health Research
The Foundation for Advancing Veterans’ Health Research is an independent nonprofit corporation affiliated with the South Texas Veterans Health Care System in San Antonio. FAVHR administers and supports research and educational programs designed to expand opportunities for discovery and improve the health and quality of life of Veterans and their families. The organization is headquartered within the Audie L. Murphy Memorial Veterans’ Hospital.
About VelocityTX
Formerly known as the Texas Research & Technology Foundation, VelocityTX is a nonprofit organization established in 1984 to promote sustainable economic and community growth. In carrying out this mission, the organization seeks to advance San Antonio’s life sciences industry through the development of a state-of-the-art bioscience innovation campus on the city’s near east side. Based out of the former Merchants Ice & Cold Storage complex, the master planned development will bring together established bioscience companies, healthcare startups, and military medical research organizations in an inclusive community where ideas collide to spur medical breakthroughs. VelocityTX also promotes workforce development through its Step Into STEM program, and provides entrepreneurial support services designed to accelerate the commercialization of emerging medical technologies. Learn more at velocitytx.org