AVE MARIA UNIVERSITY INC

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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

2002

Legal Domicile

Principal Officer

EUGENE MUNIN

Phone

2392802500

Tax Period

2022-07-01 to 2023-06-30

AVE MARIA UNIVERSITY INC, founded in 2002, is a mid-sized nonprofit in the Education sector that reported $72.6M in total revenue in fiscal year 2022. Expenses of $70.1M left a modest 3% surplus.

Mission

FOUNDED IN FIDELITY TO CHRIST AND HIS CHURCH IN RESPONSE TO THE CALL OF VATICAN II FOR GREATER LAY WITNESS IN CONTEMPORARY SOCIETY, AVE MARIA UNIVERSITY EXISTS TO FURTHER TEACHING, RESEARCH, AND LEARNING AT THE UNDERGRADUATE AND GRADUATE LEVELS IN THE ABIDING TRADITION OF CATHOLIC THOUGHT IN BOTH NATIONAL AND INTERNATIONAL SETTINGS. THE UNIVERSITY TAKES AS ITS MISSION THE SPONSORSHIP OF A LIBERAL ARTS EDUCATION CURRICULUM DEDICATED, AS ARTICULATED IN THE APOSTOLIC CONSTITUTION EX CORDE ECCLESIAE, TO THE ADVANCEMENT OF HUMAN CULTURE, THE PROMOTION OF DIALOGUE BETWEEN FAITH AND REASON, THE FORMATION OF MEN AND WOMEN IN THE INTELLECTUAL AND MORAL VIRTUES OF THE CATHOLIC FAITH, AND TO THE DEVELOPMENT OF PROFESSIONAL AND PRE-PROFESSIONAL PROGRAMS IN RESPONSE TO LOCAL AND SOCIETAL NEEDS. AS AN INSTITUTION COMMITTED TO CATHOLIC PRINCIPLES, THE UNIVERSITY RECOGNIZES THE IMPORTANCE OF CREATING AND MAINTAINING AN ENVIRONMENT IN WHICH FAITH INFORMS THE LIFE OF THE COMMUNITY AND TAKES EXPRESSION IN ALL ITS PROGRAMS. THE UNIVERSITY RECOGNIZES THE CENTRAL AND INDISPENSABLE ROLE OF THE ORDINARY OF THE DIOCESE OF VENICE IN PROMOTING AND ASSISTING IN THE PRESERVATION AND STRENGTHENING OF THE UNIVERSITY'S CATHOLIC IDENTITY.

Program Service Accomplishments

Program 1

Expenses: $58,416,190 Revenue: $50,765,830

OPERATING A UNIVERSITY DEDICATED TO INSTRUCTING AND TRAINING INDIVIDUALS TOWARDS A BACCALAUREATE, MASTERS OR DOCTORATE DEGREE. 1,252 STUDENTS WERE SEEKING DEGREES AT AMU DURING THE FALL 2022-2023...

OPERATING A UNIVERSITY DEDICATED TO INSTRUCTING AND TRAINING INDIVIDUALS TOWARDS A BACCALAUREATE, MASTERS OR DOCTORATE DEGREE. 1,252 STUDENTS WERE SEEKING DEGREES AT AMU DURING THE FALL 2022-2023 SCHOOL YEAR.

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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 (2022)

Revenue Breakdown

Contributions & Grants $19,912,152

Program Service Revenue $50,552,284

Investment Income $1,130,590

Other Revenue $992,396

TOTAL REVENUE $72,587,422

Expense Breakdown

Grants Paid $20,056,071

Salaries & Benefits $20,099,222

Fundraising Expenses $3,269,876

Program Expenses $58,416,190

Other Expenses $29,979,173

TOTAL EXPENSES $70,134,466

Year-over-Year Comparison

	2022	2021	Change
Revenue	$72,587,422	$75,533,917	0.0%
Expenses	$70,134,466	$66,537,880	+0.1%
Net Income	$2,452,956	$8,996,037	-0.7%

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

915

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

$2,032,220

Total Directors

$648,496

Key Employees

$491,886

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE HENDERSHOTT	TRUSTEE	2.00	Director	$0	$0	$0
ANTHONY D'AGOSTINO	TRUSTEE	2.00	Director	$0	$0	$0
BARBARA B HENKELS	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
BERNADETTE LUCA	TRUSTEE (THRU AUG 2022)	2.00	Director	$0	$0	$0
BISHOP FRANK J DEWANE	TRUSTEE, EX OFFICIO	2.00	Director	$0	$0	$0
BISHOP STEPHEN PARKES	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTOPHER G FAHEY	TRUSTEE	2.00	Director	$0	$0	$0
DANIEL N MEZZALINGUA	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
DAVE DURAND	TRUSTEE	2.00	Director	$0	$0	$0
DEACON STEVEN MARCUS	TRUSTEE	2.00	Director	$0	$0	$0
DENZIL SAMUELS	TRUSTEE	2.00	Director	$0	$0	$0
DONNA M BRADT	TRUSTEE	2.00	Director	$0	$0	$0
EUGENE MUNIN	VP FINANCE/CFO	40.00	Officer Director	$197,803	$0	$197,803
GLORY L SULLIVAN	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
GREG DOLAN	TRUSTEE	2.00	Director	$0	$0	$0
JOHN V TIPPMANN SR	TRUSTEE EMERITUS	2.00	Officer Director	$0	$0	$0
JOSEPH C CANIZARO	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
KENNY WOOD	TRUSTEE	2.00	Director	$0	$0	$0
LUSANT ORDONEZ	TRUSTEE	2.00	Director	$0	$0	$0
MARK MIDDENDORF	PRESIDENT	40.00	Officer Director	$389,154	$61,539	$450,693
MICHAEL KANE	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL TIMMIS	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
PATRICK T RAINEY	TRUSTEE/CHAIRMAN	10.00	Officer Director	$0	$0	$0
PAUL R RONEY	TRUSTEE	2.00	Director	$0	$0	$0
SR JOHN DOMINIC	TRUSTEE	2.00	Director	$0	$0	$0
TERRENCE O'DAY	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS P PRINCE	TRUSTEE (THRU MAR 2023)	2.00	Director	$0	$0	$0
THOMAS S MONAGHAN	TRUSTEE/CHANCELLOR	5.00	Officer Director	$0	$0	$0
TIMOTHY PATTON	TRUSTEE	2.00	Director	$0	$0	$0
BRENT JOHNSON	VP ENROLLMENT	40.00	Officer	$114,365	$0	$114,365
JOSEPH P PATTERSON	ATHLETIC DIRECTOR	40.00	Officer	$155,661	$0	$155,661
JULIE K MUSSELMAN	CHEIF OF STAFF	40.00	Officer	$123,598	$0	$123,598
KIMBERLY M KING	VP STUDENT AFFAIRS	40.00	Officer	$157,841	$0	$157,841
RATCHAPOL DEJTHAI	VP IT/CIO	40.00	Officer	$201,069	$0	$201,069
ROGER NUTT	VP ACADEMIC AFFAIRS	40.00	Officer	$286,531	$0	$286,531
SUSAN W GALLAGHER	VP MARKETING	40.00	Officer	$147,720	$0	$147,720
TIMOTHY J DOCKERY	VP ADVANCEMENT	40.00	Officer	$196,939	$0	$196,939
GABRIEL X MARTINEZ	BUSINESS INST. ASSOC. PROF	40.00	Key Emp	$160,945	$0	$160,945
PATRICK J O'CONNELL	PRINCIPAL GIFT OFFICER	40.00	Key Emp	$176,884	$0	$176,884
PETER S WHALEN	ASSOC PROF MKTG & ENTREPRE	40.00	Key Emp	$154,057	$0	$154,057
DANIEL J DAVY	ASST DEAN OF FACULTY	40.00	Highest	$145,403	$0	$145,403
JEFFREY P FENUCCIO	PROFESSOR	40.00	Highest	$135,108	$0	$135,108
MICHAEL A DAUPHINAIS	ASSOC. THEOLOGY PROFESSOR	40.00	Highest	$136,670	$0	$136,670
MICHAEL MARSALLI	PROFESSOR	40.00	Highest	$137,483	$0	$137,483
TRAVIS R CUTRIGHT	PROFESSOR	40.00	Highest	$124,792	$0	$124,792
CHRISTOPHER P ICE	(FORMER) PRESIDENT	0.00		$314,629	$0	$314,629

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	No data	No data	No data	No data
2023	$72,587,422	$70,134,466	$246,761,373	$2,452,956
2022	$75,533,917	$66,537,880	$242,009,071	$8,996,037
2021	$61,745,167	$54,875,621	$234,976,166	$6,869,546
2020	$45,617,754	$54,004,016	$227,969,836	$-8,386,262
2019	$53,627,060	$53,845,112	$235,120,449	$-218,052
2018	$50,865,119	$50,507,396	$244,039,993	$357,723