WORCESTER POLYTECHNIC INSTITUTE

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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

1865

Legal Domicile

Principal Officer

JINLIU WANG

Phone

5088315000

Tax Period

2024-07-01 to 2025-06-30

WORCESTER POLYTECHNIC INSTITUTE, founded in 1865, is a major nonprofit that reported $529.4M in total revenue in fiscal year 2024.

Mission

WPI TRANSFORMS LIVES, TURNS KNOWLEDGE INTO ACTION TO CONFRONT GLOBAL CHALLENGES, AND REVOLUTIONIZES STEM THROUGH DISTINCTIVE AND INCLUSIVE EDUCATION, PROJECTS AND RESEARCH. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML)

Program Service Accomplishments

Program 1

Expenses: $377,933,360 Revenue: $434,365,675

THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 5,500 UNDERGRADUATE AND 2,025 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD...

THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 5,500 UNDERGRADUATE AND 2,025 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 2,410 STUDENTS. DURING FISCAL YEAR 2025, THE UNIVERSITY AWARDED 1,298 BACHELOR, 867 MASTER AND 87 PHD DEGREES. STUDENTS EMERGE FROM THE UNIVERSITY'S UNIQUE EXPERIENCE READY TO TAKE ON SOME OF THE MOST DIFFICULT CHALLENGES IN SCIENCE AND TECHNOLOGY. MORE IMPORTANTLY, THEY UNDERSTAND HOW THEIR WORK CAN TRULY IMPACT SOCIETY AND IMPROVE LIVES.

Program 2

Expenses: $69,921,140 Revenue: $55,929,914

AT THE UNIVERSITY, 244 FACULTY AND POST DOC RESEARCHERS, AND 632 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A...

AT THE UNIVERSITY, 244 FACULTY AND POST DOC RESEARCHERS, AND 632 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A VARIETY OF SOURCES, PRIMARILY FROM GOVERNMENTAL ORGANIZATIONS SUCH AS THE NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES. RESEARCH AT THE UNIVERSITY HAS A DECIDEDLY APPLIED FOCUS, WITH WORK FOCUSED ON PROBLEMS THAT ARE BOTH INTERESTING AND IMPORTANT. THE RESULT IS NEW KNOWLEDGE, NEW INNOVATIONS, AND TECHNOLOGICAL ADVANCES THAT ATTACK SOME OF THE MAJOR CHALLENGES OF OUR TIME.

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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 $25,187,739

Program Service Revenue $490,295,589

Investment Income $12,697,778

Other Revenue $1,247,888

TOTAL REVENUE $529,428,994

Expense Breakdown

Grants Paid $169,125,759

Salaries & Benefits $209,761,386

Fundraising Expenses $9,437,272

Program Expenses $447,854,500

Other Expenses $160,338,639

TOTAL EXPENSES $539,287,317

Year-over-Year Comparison

	2024	2023	Change
Revenue	$529,428,994	$490,769,899	+0.1%
Expenses	$539,287,317	$505,318,915	+0.1%
Net Income	$-9,858,323	$-14,549,016	-0.3%

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

4536

Volunteers

522

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

$2,876,534

Total Directors

$1,122,817

Key Employees

$1,104,344

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JINLIU WANG	PRESIDENT	40.00	Officer Director	$995,961	$126,856	$1,122,817
WILLIAM FITZGERALD	CHAIR & TRUSTEE	2.00	Officer Director	$0	$0	$0
JOYCE KLINE	VICE CHAIR & TRUSTEE	2.00	Officer Director	$0	$0	$0
STEPHEN RUSCKOWSKI	VICE CHAIR & TRUSTEE	2.00	Officer Director	$0	$0	$0
MICHAEL ASPINWALL	TRUSTEE	2.00	Director	$0	$0	$0
LORRAINE BOLSINGER	TRUSTEE	2.00	Director	$0	$0	$0
LINWOOD BRADFORD	TRUSTEE	2.00	Director	$0	$0	$0
MARNI HALL	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT HART	TRUSTEE	2.00	Director	$0	$0	$0
STUART KAZIN	TRUSTEE	2.00	Director	$0	$0	$0
DAVID LAPRE	TRUSTEE	2.00	Director	$0	$0	$0
CARLEEN MAITLAND	TRUSTEE	2.00	Director	$0	$0	$0
ERICA MASON	TRUSTEE	2.00	Director	$0	$0	$0
MAUREEN MCCAFFREY	TRUSTEE	2.00	Director	$0	$0	$0
NEIL MCDONOUGH	TRUSTEE	2.00	Director	$0	$0	$0
PATRICIA NEWCOMER-SMALL	TRUSTEE	2.00	Director	$0	$0	$0
GEORGE OLIVER	TRUSTEE	2.00	Director	$0	$0	$0
NATALIA PAVLOVA	TRUSTEE (AS OF 11/2024)	2.00	Director	$0	$0	$0
ELIZABETH PHALEN	TRUSTEE	2.00	Director	$0	$0	$0
JAMES F POLEWACZYK	TRUSTEE (AS OF 11/2024)	2.00	Director	$0	$0	$0
MARK RUSSELL	TRUSTEE	2.00	Director	$0	$0	$0
ELIZABETH SCHWEINSBERG	TRUSTEE	2.00	Director	$0	$0	$0
NAVJOT SINGH	TRUSTEE	2.00	Director	$0	$0	$0
CHARTSIRI SOPHONPANICH	TRUSTEE (AS OF 05/2025)	2.00	Director	$0	$0	$0
JOAN BOLDUC SZKUTAK	TRUSTEE	2.00	Director	$0	$0	$0
GREG TUCKER	TRUSTEE (AS OF 05/2025)	2.00	Director	$0	$0	$0
MYLES WALTON	TRUSTEE	2.00	Director	$0	$0	$0
JENNIFER WYSE	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL HORAN	TREASURER, EXECUTIVE VP & CFO	40.00	Officer	$589,073	$55,294	$644,367
DAVID BUNIS	SEC. & GEN COUNSEL (THRU 01/2025)	40.00	Officer	$552,517	$36,619	$589,136
KYLE SIEGEL	AVP, CHIEF OF STAFF & DEP. SECR.	40.00	Officer	$228,255	$39,671	$267,926
ELIZABETH CLAPP	ASSOC TREAS. & CONTROLL (THRU 12/24)	40.00	Officer	$193,879	$58,409	$252,288
MEGAN BELMORE	CONTROLLER & ASST TREAS (AS OF 4/25)	40.00	Officer	$0	$0	$0
PHILIP CLAY	VP STUDENT AFFAIRS	40.00	Key Emp	$456,071	$45,285	$501,356
ARTHUR HEINRICHER	INTERIM PROVOST (THRU 07/2024)	40.00	Key Emp	$309,939	$42,502	$352,441
ANDREW SEARS	PROVOST (AS OF 08/2024)	40.00	Key Emp	$222,478	$28,069	$250,547
LAUREN TURNER	SVP TALENT & INCLUSION, CDO	40.00	Highest	$551,271	$60,667	$611,938
DONNA STOCK	VP UNIV ADV (THRU 02/2025)	40.00	Highest	$461,131	$43,498	$504,629
VIJAY MENTA	PRES. INFO. TECH. & CIO	40.00	Highest	$353,745	$43,841	$397,586
JEAN KING	DEAN OF ARTS & SCIENCES	40.00	Highest	$364,864	$59,379	$424,243
BOGDAN VERNESCU	VP & VICE PROV. RESEARCH & INNOV.	40.00	Highest	$378,752	$47,366	$426,118

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	$529,428,994	$539,287,317	$1,434,918,284	$-9,858,323
2024	No data	No data	No data	No data
2023	$462,672,181	$483,023,410	$1,319,474,615	$-20,351,229
2022	$444,871,646	$445,496,296	$1,250,809,748	$-624,650
2021	$398,152,961	$398,514,619	$1,309,104,658	$-361,658
2020	$384,496,935	$390,932,284	$1,164,375,963	$-6,435,349
2019	$374,112,282	$378,667,852	$1,024,893,080	$-4,555,570
2018	$328,612,535	$340,939,297	$1,017,130,657	$-12,326,762