The Thomas More College of Liberal Arts Inc (EIN 020344073) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

William E Fahey

Phone

6038808308

Tax Period

2023-06-01 to 2024-05-31

The Thomas More College of Liberal Arts Inc, founded in 1978, is a community nonprofit in the Education sector that reported $6.0M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $5.8M left a modest 3% surplus.

Mission

Catholic liberal arts college.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,409,051

Program Service Revenue $4,379,873

Investment Income $199,674

Other Revenue $0

TOTAL REVENUE $5,988,598

Expense Breakdown

Grants Paid $1,941,779

Salaries & Benefits $1,862,789

Fundraising Expenses $194,456

Program Expenses $4,991,590

Other Expenses $1,984,547

TOTAL EXPENSES $5,789,115

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,988,598	$5,141,359	+0.2%
Expenses	$5,789,115	$5,211,264	+0.1%
Net Income	$199,483	$-69,905	-3.9%

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

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

$219,969

Total Directors

$219,969

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr William E Fahey	President	40.00	Officer Director	$186,758	$33,211	$219,969
T Patrick Monaghan	Chairman Emeritus	1.00	Officer Director	$0	$0	$0
Michael C Gilleran	Chairman	1.00	Officer Director	$0	$0	$0
Hon Scott J Bloch	Vice Chairman	1.00	Officer Director	$0	$0	$0
Sean Kay	Treasurer	1.00	Officer Director	$0	$0	$0
Henry C Luthin	Secretary	1.00	Officer Director	$0	$0	$0
John Castle MD	Trustee	1.00	Director	$0	$0	$0
Andrew Cernota	Trustee	1.00	Director	$0	$0	$0
John Hey	Trustee	1.00	Director	$0	$0	$0
Dennis E Logue	Trustee	1.00	Director	$0	$0	$0
William B McCarthy	Trustee	1.00	Director	$0	$0	$0
Charles McKinney	Trustee	1.00	Director	$0	$0	$0
Ryan McKenna	Trustee	1.00	Director	$0	$0	$0
Hon Maureen C Mooney	Trustee	1.00	Director	$0	$0	$0
Michael Mulski	Trustee	1.00	Director	$0	$0	$0
Harry C Veryser	Trustee	1.00	Director	$0	$0	$0
Walter J Thompson	Dean	40.00	Highest	$113,703	$14,253	$127,956
Paul T Jackson	Executive Vice President	40.00	Highest	$109,494	$4,367	$113,861
Pamela Bernstein	Director of Business	40.00	Highest	$109,219	$24,194	$133,413

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
2025	No data	No data	No data	No data
2024	$5,988,598	$5,789,115	$7,414,400	$199,483
2023	$5,141,359	$5,211,264	$6,989,660	$-69,905
2022	$5,235,090	$4,807,681	$7,226,691	$427,409
2021	$4,781,626	$3,993,696	$7,635,997	$787,930
2020	$5,421,762	$3,989,132	$6,602,927	$1,432,630
2019	$4,096,329	$3,829,851	$5,205,820	$266,478

The Thomas More College of Liberal Arts Inc