Norwich University

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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

1819

Legal Domicile

Principal Officer

John Broadmeadow

Phone

8024852040

Tax Period

2024-06-01 to 2025-05-31

Norwich University, founded in 1819, is a major nonprofit in the Education sector that reported $192.0M in total revenue in fiscal year 2024. Net assets of $439.2M represent 27 months of operating reserves.

Mission

Norwich's mission is to give our youth an education that shall be American in its character.

Program Service Accomplishments

Program 1

Expenses: $154,756,984 Revenue: $138,712,010

Instructional - student body of over 3,000 graduate and undergraduate students. Library and computer center servicing student body, faculty and staff. Web-based instructional platform supporting over 1,000 graduate and undergraduate students. Students receive campus-based grants, scholarships and awards coupled with aid from federally funded programs.

Program 2

Expenses: $21,889,088 Revenue: $11,312,357

Auxiliary enterprises and other student services include cafeteria, dormitories, bookstore and uniform shop servicing the undergraduate population of over 2,000 undergraduate students.

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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 (2024)

Revenue Breakdown

Contributions & Grants $36,201,195

Program Service Revenue $142,707,741

Investment Income $12,692,636

Other Revenue $362,388

TOTAL REVENUE $191,963,960

Expense Breakdown

Grants Paid $80,454,336

Salaries & Benefits $63,812,224

Fundraising Expenses $3,250,103

Program Expenses $176,646,072

Other Expenses $55,112,824

TOTAL EXPENSES $199,379,384

Year-over-Year Comparison

	2024	2023	Change
Revenue	$191,963,960	$198,906,593	0.0%
Expenses	$199,379,384	$198,496,012	+0.0%
Net Income	$-7,415,424	$410,581	-19.1%

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

1707

Volunteers

500

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

$1,682,417

Total Directors

$334,302

Key Employees

$1,449,769

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Broadmeadow	President	40.00	Officer Director	$277,413	$56,889	$334,302
Alfred Gobeille	Chair	2.50	Director	$0	$0	$0
Anthony Agnitti	Trustee	2.50	Director	$0	$0	$0
Trevor Albertson	Trustee	2.50	Director	$0	$0	$0
Mark Bowman	Trustee	2.50	Director	$0	$0	$0
John Collins	Trustee	2.50	Director	$0	$0	$0
Larry Costa	Trustee	2.50	Director	$0	$0	$0
Isabelle Desjardins	Trustee	2.50	Director	$0	$0	$0
Philip Down	Trustee	2.50	Director	$0	$0	$0
Patricia Elmer	Trustee	2.50	Director	$0	$0	$0
Maxine Grad	Trustee	2.50	Director	$0	$0	$0
Stephen Jones	Trustee	2.50	Director	$0	$0	$0
John Koziol	Trustee	2.50	Director	$0	$0	$0
Joan LaFrance	Trustee	2.50	Director	$0	$0	$0
Blair Lavoie	Trustee	2.50	Director	$0	$0	$0
Francisco Leija	Trustee	2.50	Director	$0	$0	$0
Pamela Little	Trustee	2.50	Director	$0	$0	$0
Vincent McDermott	Trustee	2.50	Director	$0	$0	$0
David Noll	Trustee	2.50	Director	$0	$0	$0
David Orfao	Trustee	2.50	Director	$0	$0	$0
Michael Palmer	Trustee	2.50	Director	$0	$0	$0
David Pierce	Trustee	2.50	Director	$0	$0	$0
E Miles Prentice	Trustee	2.50	Director	$0	$0	$0
Benjamin Price	Trustee	2.50	Director	$0	$0	$0
William Priesmeyer	Trustee	2.50	Director	$0	$0	$0
Landers Symes	Trustee	2.50	Director	$0	$0	$0
Patricia Tracey	Trustee	2.50	Director	$0	$0	$0
Robert Young	Trustee	2.50	Director	$0	$0	$0
Karen Gaines	Provost	40.00	Officer	$321,509	$33,453	$354,962
William McCollough	Commandant and VP Student Affairs	40.00	Officer	$188,807	$40,761	$229,568
George Silowash	CIO	40.00	Officer	$163,463	$8,836	$172,299
Leroy Young	CFO	40.00	Officer	$143,367	$35,871	$179,238
Danielle Pelczarski	Senior VP and Chief of Staff	40.00	Officer	$165,528	$10,260	$175,788
James Louis Dunkelman	Interim CFO	40.00	Officer	$156,910	$154	$157,064
Jamie Comolli	Assistant Secretary	40.00	Officer	$73,202	$5,994	$79,196
Jessica Wood	Dir & Ass. Prof of Nursing	40.00	Key Emp	$223,638	$41,523	$265,161
Kimberly Reilly	VP of Enrollment Management	40.00	Key Emp	$187,876	$28,966	$216,842
Sharon Rose Hamilton	VP for Strategic Partnerships	40.00	Key Emp	$172,454	$13,155	$185,609
Frank Vanecek	Professor of Information Tech.	30.00	Key Emp	$173,404	$13,155	$186,559
Bizhan Yahyazadeh	VP Facilities	40.00	Key Emp	$167,009	$26,074	$193,083
Elizabeth Potskowski	VP Development	40.00	Key Emp	$203,077	$13,552	$216,629
Dr Julia Bernard	VP of DEI	40.00	Key Emp	$166,303	$19,583	$185,886
Huw Read	Professor of Computer Security	30.00	Highest	$204,320	$33,836	$238,156
Aron Temkin	Dean of College Pro. Schools	30.00	Highest	$160,026	$18,868	$178,894
Dr Lea Williams	Assistant Provost	40.00	Highest	$159,918	$25,316	$185,234
Michael Battig	Professor	30.00	Highest	$173,731	$37,010	$210,741
Corey Bennett	Senior Lecturer for Nursing	30.00	Highest	$162,348	$24,411	$186,759

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	$191,963,960	$199,379,384	$526,446,803	$-7,415,424
2024	$198,906,593	$198,496,012	$517,611,300	$410,581
2023	$192,660,298	$196,525,026	$487,810,039	$-3,864,728
2022	$203,934,578	$193,724,043	$512,867,844	$10,210,535
2021	$181,187,651	$177,215,212	$568,444,929	$3,972,439
2020	$177,857,949	$178,649,098	$451,288,242	$-791,149
2019	$178,415,780	$174,011,657	$447,742,563	$4,404,123
2018	$170,737,618	$167,060,923	$450,114,211	$3,676,695