EASTERN NAZARENE 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

1920

Legal Domicile

Principal Officer

ROBERT HARTMAN

Phone

6177453000

Tax Period

2022-07-01 to 2023-06-30

EASTERN NAZARENE COLLEGE, founded in 1920, is a mid-sized nonprofit in the Education sector that reported $22.6M in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $27.2M exceeded revenue, resulting in a 20% operating deficit.

Mission

EASTERN NAZARENE COLLEGE PROVIDES A TRANSFORMATIONAL EDUCATION THAT EQUIPS DIVERSE STUDENTS TO LEAD AND SERVE OUR WORLD AS AGENTS OF CHRIST'S LOVE AND TRUTH.

Program Service Accomplishments

Program 1

Expenses: $17,874,649 Revenue: $18,322,104

COLLEGE GRANTS BACHELOR AND MASTER DEGREES TO QUALIFIED CANDIDATES UPON SATISFACTORY COMPLETION OF THEIR PROGRAM REQUIREMENTS. TO ACCOMPLISH THIS PURPOSE, THE COLLEGE ENROLLED 700 FULL AND PART-TIME UNDERGRADUATE AND GRADUATE STUDENTS, WITH A MAJORITY OF THE TRADITIONAL UNDERGRADUATE LIVING IN CAMPUS HOUSING. THE COLLEGE OPERATES A BOOKSTORE AND CAFETERIA FOR THE PRIMARY USE OF THE STUDENTS, FACULTY, AND STAFF. THE COLLEGE OPERATES HOUSING FACILITIES FOR STUDENTS, FACULTY, AND STAFF TO MEET THE EXISTING NEEDS FOR SUCH FACILITIES.

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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 $3,526,461

Program Service Revenue $18,322,104

Investment Income $175,592

Other Revenue $571,725

TOTAL REVENUE $22,595,882

Expense Breakdown

Grants Paid $6,753,437

Salaries & Benefits $9,986,565

Fundraising Expenses $691,170

Program Expenses $17,874,649

Other Expenses $10,414,236

TOTAL EXPENSES $27,154,238

Year-over-Year Comparison

	2022	2021	Change
Revenue	$22,595,882	$29,138,627	-0.2%
Expenses	$27,154,238	$27,842,926	0.0%
Net Income	$-4,558,356	$1,295,701	-4.5%

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

565

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DELMY ALAS-CRUZ	TRUSTEE	0.60	Director	$0	$0	$0
BRUCE BARNARD	TRUSTEE	0.60	Director	$0	$0	$0
DAVID BOWSER	TRUSTEE	0.60	Director	$0	$0	$0
RYAN CALHOUN	TRUSTEE	0.60	Director	$0	$0	$0
JACK CONNELL	TRUSTEE	0.60	Director	$0	$0	$0
DAN EDDINGS	TRUSTEE	0.60	Director	$0	$0	$0
PHIL FULLER	TRUSTEE	0.60	Director	$0	$0	$0
DOUG KITCHEN	TRUSTEE	0.60	Director	$0	$0	$0
STEPHEN PERRY	TRUSTEE	0.60	Director	$0	$0	$0
KEN STANFORD	TRUSTEE	0.60	Director	$0	$0	$0
MARIKAE TOYE	TRUSTEE	0.60	Director	$0	$0	$0
SAM VASSEL	TRUSTEE	0.60	Director	$0	$0	$0
KERRY WILLIS	TRUSTEE	0.60	Director	$0	$0	$0
STEPHEN WILSON	TRUSTEE	0.60	Director	$0	$0	$0
KRISTA CASLER	TRUSTEE	0.60	Director	$0	$0	$0
PAUL MACPHERSON	TRUSTEE	0.60	Director	$0	$0	$0
RICHARD REYENGER	TRUSTEE	0.60	Director	$0	$0	$0
RICHARD SIMONS	TRUSTEE	0.60	Director	$0	$0	$0
MARK PRUGH	VICE CHAIR	0.60	Officer Director	$0	$0	$0
LOUIS INGLAND	TRUSTEE	0.60	Officer Director	$0	$0	$0
G WAYNE ELLIOTT JR	TRUSTEE	0.60	Officer Director	$0	$0	$0
OLIVIA METCALF	TRUSTEE	0.60	Officer Director	$0	$0	$0
MELODY ECKARDT	CHAIRPERSON	0.60	Officer Director	$0	$0	$0
JAMES HEYWARD	SECRETARY	0.60	Officer Director	$0	$0	$0
ROBERT MURPHY	ASSISTANT PROFESSOR OF BUS	40.00	Highest	$132,935	$18,013	$150,948
IAN SLATER	VP OF STUDENT LIFE	40.00	Highest	$111,833	$15,750	$127,583
TIMOTHY REES	VP OF ENROLLMENT	40.00	Highest	$109,692	$15,750	$125,442
SAMUEL CONNELL	PRESIDENT	40.00	Highest	$187,843	$5,279	$193,122

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	$22,595,882	$27,154,238	$41,751,808	$-4,558,356
2022	$29,138,627	$27,842,926	$44,505,199	$1,295,701
2021	$30,810,403	$28,297,357	$46,152,111	$2,513,046
2020	$26,169,275	$30,712,882	$41,259,818	$-4,543,607
2019	$27,578,341	$29,685,507	$48,742,447	$-2,107,166
2018	$28,422,346	$30,416,483	$53,839,976	$-1,994,137