EMERSON COLLEGE

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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

1880

Legal Domicile

Principal Officer

JAY BERNHARDT

Phone

6178248500

Tax Period

2024-07-01 to 2025-06-30

EMERSON COLLEGE, founded in 1880, is a major nonprofit in the Education sector that reported $340.2M in total revenue in fiscal year 2024.

Mission

Program Service Accomplishments

Program 1

Expenses: $221,251,928 Revenue: $246,768,799

EMERSON COLLEGE'S MISSION IS TO EDUCATE AND ELEVATE EXTRAORDINARY ARTISTS, COMMUNICATORS, SCHOLARS, AND PROFESSIONALS FOR THE BETTERMENT OF HUMANITY. WE PURSUE THIS MISSION THROUGH WORLD-CLASS...

EMERSON COLLEGE'S MISSION IS TO EDUCATE AND ELEVATE EXTRAORDINARY ARTISTS, COMMUNICATORS, SCHOLARS, AND PROFESSIONALS FOR THE BETTERMENT OF HUMANITY. WE PURSUE THIS MISSION THROUGH WORLD-CLASS TEACHING, PRACTICE, PERFORMANCE, AND DISCOVERY THAT ARE EXPERIENTIAL, INNOVATIVE, AND INCLUSIVE. THE COLLEGE EDUCATES APPROXIMATELY 3,500 UNDERGRADUATE AND 1,300 GRADUATE STUDENTS ANNUALLY - THIS YEAR FROM 50 U.S. STATES, WASHINGTON, D.C., PUERTO RICO, THE US VIRGIN ISLANDS, AND 69 COUNTRIES. THE COLLEGE HAS MORE THAN 600 FULL AND PART-TIME FACULTY.

Program 2

Expenses: $73,017,000 Revenue: $66,117,355

AUXILIARY ENTERPRISES PROVIDE SERVICES FOR STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THESE SERVICES PREDOMINANTLY INCLUDE ROOM, BOARD, AND BOOKSTORE OPERATIONS. THEATRE OPERATIONS ARE ALSO...

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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 $9,875,044

Program Service Revenue $302,885,688

Investment Income $12,435,257

Other Revenue $15,038,921

TOTAL REVENUE $340,234,910

Expense Breakdown

Grants Paid $77,837,641

Salaries & Benefits $138,653,281

Fundraising Expenses $5,946,548

Program Expenses $294,268,928

Other Expenses $132,270,006

TOTAL EXPENSES $348,760,928

Year-over-Year Comparison

	2024	2023	Change
Revenue	$340,234,910	$345,463,060	0.0%
Expenses	$348,760,928	$342,509,298	+0.0%
Net Income	$-8,526,018	$2,953,762	-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

3504

Volunteers

1077

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

$2,556,103

Total Directors

$1,050,166

Key Employees

$229,925

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY BERNHARDT	PRESIDENT	40.00	Officer Director	$859,615	$190,551	$1,050,166
ERIC ALEXANDER	CHAIR	2.00	Officer Director	$0	$0	$0
ROBERT MILLER	CO-VICE CHAIR	2.00	Officer Director	$0	$0	$0
SHEILA ROBINSON	CO-VICE CHAIR	2.00	Officer Director	$0	$0	$0
DOUG HERZOG	SECRETARY	2.00	Officer Director	$0	$0	$0
SCOTT GOLDENBERG	BOARD MEMBER (THRU 05/25)/TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL MACWADE	TREASURER (THRU 05/2025)	2.00	Officer Director	$0	$0	$0
RANDY BARBATO	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
VIVIAN BEARD	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACI BLACKWELL	BOARD MEMBER	2.00	Director	$0	$0	$0
KEVIN BRIGHT	BOARD MEMBER	2.00	Director	$0	$0	$0
ELLEN CALMAS	BOARD MEMBER	2.00	Director	$0	$0	$0
LORENZO DI BONAVENTURA	BOARD MEMBER	2.00	Director	$0	$0	$0
BILL GERSH	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
LIZ DALY GERSH	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
IRA GOLDSTONE	BOARD MEMBER	2.00	Director	$0	$0	$0
SETH GRAHAME-SMITH	BOARD MEMBER	2.00	Director	$0	$0	$0
DOUGLAS HOLLOWAY	BOARD MEMBER (THRU 05/2025)	2.00	Director	$0	$0	$0
JOSEPH JOHNSON III	BOARD MEMBER	2.00	Director	$0	$0	$0
ADELE LIM	BOARD MEMBER	2.00	Director	$0	$0	$0
PETER LOGE	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
KEVIN MCKEON	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
ANDREA MONTONI	BOARD MEMBER	2.00	Director	$0	$0	$0
PAUL J MORRA	BOARD MEMBER	2.00	Director	$0	$0	$0
MAX MUTCHNICK	BOARD MEMBER	2.00	Director	$0	$0	$0
PATRICIA PEYTON	BOARD MEMBER	2.00	Director	$0	$0	$0
SAM PRESTI	BOARD MEMBER (AS OF 05/2025)	2.00	Director	$0	$0	$0
STEVEN SAMUELS	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSAN NAMM SPENCER	BOARD MEMBER	2.00	Director	$0	$0	$0
CATHY WEISS	BOARD MEMBER	2.00	Director	$0	$0	$0
PETER ZAMORE	BOARD MEMBER (THRU 03/2025)	2.00	Director	$0	$0	$0
CAROLINA AVELLANEDA	GENERAL COUNSEL	40.00	Officer	$301,422	$33,332	$334,754
PAUL DWORKIS	VP ADMIN & FIN (THRU 01/2025)	40.00	Officer	$452,976	$60,936	$513,912
ROBERT J BUTLER JR	AVP FIN(THRU 1/25)/INT VP FIN/CFO	40.00	Officer	$281,324	$69,409	$350,733
ALEXANDRA SOCARIDES	PROVOST & VP ACAD AFF (AS OF 07/24)	2.00	Officer	$271,332	$35,206	$306,538
MATT BOYCE	VP FOR ENROLLMENT MGMT (AS OF 07/24)	2.00	Key Emp	$212,801	$17,124	$229,925
ALLISON DAWSON	VP FOR INSTITUTIONAL ADVANCEMENT	40.00	Highest	$354,187	$55,298	$409,485
MELISSA RICHARDS	VP & CHIEF OF STAFF (THRU 05/2024)	40.00	Highest	$316,916	$21,894	$338,810
JAN ROBERTS-BRESLIN	PROF(THRU 12/24)/DEAN GRAD/PROF STUD	40.00	Highest	$316,103	$58,248	$374,351
SHAYA GREGORY POKU	VP FOR EQUITY & SOCIAL JUSTICE	40.00	Highest	$284,129	$31,716	$315,845
SPENCER KIMBALL	DIR OF POLLING CENTER/ASSOC PROF	40.00	Highest	$283,223	$47,457	$330,680

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	$340,234,910	$348,760,928	$1,162,646,095	$-8,526,018
2024	$345,463,060	$342,509,298	$1,158,204,287	$2,953,762
2023	$331,849,178	$318,980,558	$1,142,841,556	$12,868,620
2022	$331,218,979	$307,982,899	$1,118,967,112	$23,236,080
2021	$275,696,398	$275,231,335	$1,139,244,716	$465,063
2020	$281,067,638	$270,076,577	$1,047,810,953	$10,991,061
2019	$264,143,195	$256,381,633	$1,050,117,981	$7,761,562
2018	$246,312,020	$241,907,748	$1,035,327,915	$4,404,272