THOMAS COLLEGE (EIN 010263385) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1894

Legal Domicile

Principal Officer

LAURIE LACHANCE

Phone

2078591111

Tax Period

2023-07-01 to 2024-06-30

THOMAS COLLEGE is a 501(c)(3) with EIN 010263385, based in WATERVILLE, ME. Founded in 1894, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $39,971,757 in total revenue and $38,938,070 in total expenses, with net assets of $69,839,546.

Mission

THOMAS COLLEGE PREPARES STUDENTS FOR SUCCESS IN THEIR PERSONAL AND PROFESSIONAL LIVES, AND FOR LEADERSHIP AND SERVICE IN THEIR COMMUNITIES. THOMAS PROVIDES A SUPPORTIVE LEARNING ENVIRONMENT THAT VALUES THE NEEDS AND GOALS OF INDIVIDUAL STUDENTS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,414,568

Program Service Revenue $29,406,258

Investment Income $3,002,473

Other Revenue $148,458

TOTAL REVENUE $39,971,757

Expense Breakdown

Grants Paid $14,228,899

Salaries & Benefits $13,847,524

Fundraising Expenses $964,120

Program Expenses $34,342,796

Other Expenses $10,595,458

TOTAL EXPENSES $38,938,070

Year-over-Year Comparison

	2023	2022	Change
Revenue	$39,971,757	$34,736,562	+0.2%
Expenses	$38,938,070	$35,230,449	+0.1%
Net Income	$1,033,687	$-493,887	-3.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

450

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$780,285

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CONRAD AYOTTE	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
KELLEY B SHIMANSKY	1ST VICE CHAIR	1.00	Officer Director	$0	$0	$0
ROBIN GOODWIN	2ND VICE CHAIR	1.00	Officer Director	$0	$0	$0
DAVID PEASE	SECRETARY	1.00	Officer Director	$0	$0	$0
CARY OLSON-CARTWRIGHT	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS CUTCHIN	TRUSTEE	1.00	Director	$0	$0	$0
JIM DOYLE	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM M DUBAY	TRUSTEE	1.00	Director	$0	$0	$0
HOLLY D FERGUSON	TRUSTEE	1.00	Director	$0	$0	$0
MICHELLE T HAYES	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES JOHNSON	TRUSTEE	1.00	Director	$0	$0	$0
MEREDITH JONES	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN J KING	TRUSTEE	1.00	Director	$0	$0	$0
DANIELLE MARQUIS	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT MMOORE	TRUSTEE	1.00	Director	$0	$0	$0
DORCAS RILEY	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD SPELLMAN	TRUSTEE	1.00	Director	$0	$0	$0
KENNETH VIENS	TRUSTEE	1.00	Director	$0	$0	$0
LAURIE LACHANCE	PRESIDENT	40.00	Officer	$307,874	$43,874	$351,748
THOMAS WARREN	COO	40.00	Officer	$216,299	$12,496	$228,795
THOMAS EDWARDS	PROVOST	40.00	Officer	$171,649	$28,093	$199,742
CHRISTOPHER RHODA	VP FOR INFORMATION SERVICES	40.00	Highest	$143,740	$22,367	$166,107
CHELSEA BREA MOELLER	VP ADVANCMENT	40.00	Highest	$130,167	$4,137	$134,304
DEBORAH CUNNINGHAM	SR VP OF STUDENT SUCCESS	40.00	Highest	$118,664	$41,090	$159,754
DONALD CRAGEN	PROFESSOR	40.00	Highest	$141,014	$16,414	$157,428
FRANK APPUNN	PROFESSOR	40.00	Highest	$134,573	$9,884	$144,457

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$39,971,757	$38,938,070	$86,752,537	$1,033,687
2023	$34,736,562	$35,230,449	$85,311,388	$-493,887
2022	$31,052,244	$31,047,245	$83,830,985	$4,999
2021	$38,748,882	$34,085,900	$85,116,771	$4,662,982
2020	$32,333,664	$29,684,945	$77,306,149	$2,648,719
2019	$33,288,156	$30,184,307	$75,197,544	$3,103,849
2018	$33,559,666	$29,645,063	$72,325,247	$3,914,603

THOMAS COLLEGE