LABOURE COLLEGE OF HEALTHCARE 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

1951

Legal Domicile

Principal Officer

DR LILY HSU

Phone

6173223500

Tax Period

2024-07-01 to 2025-06-30

LABOURE COLLEGE OF HEALTHCARE INC, founded in 1951, is a mid-sized nonprofit that reported $11.9M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $18.0M exceeded revenue, resulting in a 52% operating deficit.

Mission

LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS.

Program Service Accomplishments

Program 1

Expenses: $12,690,511 Revenue: $10,490,446

LABOURE COLLEGE HAS A UNIQUE AND EXTENSIVE 132 YEARS HISTORY IN THE EDUCATION OF HEALTH CARE PROFESSIONALS IN THE GREATER BOSTON AREA. APPROXIMATELY 1090 STUDENTS, MOST PART TIME, RECEIVE AN...

LABOURE COLLEGE HAS A UNIQUE AND EXTENSIVE 132 YEARS HISTORY IN THE EDUCATION OF HEALTH CARE PROFESSIONALS IN THE GREATER BOSTON AREA. APPROXIMATELY 1090 STUDENTS, MOST PART TIME, RECEIVE AN EDUCATION WITH THE DISTINCT FOCUS OF EDUCATION FOR PRACTICE IN THE HEALTH SECTOR. WE ARE COMMITTED TO PREPARING INDIVIDUALS TO DELIVER PATIENT-CENTERED CARE AS MEMBERS OF AN INTERDISCIPLINARY TEAM. THE INDIVIDUAL PROGRAMS PROVIDE CLINICAL EDUCATION EMPHASIZING EVIDENCE-BASED PRACTICE, INCLUDING THE LATEST RESEARCH AND CLINICAL EXPERTISE. QUALITY IMPROVEMENT APPROACHES AND THE USE OF INFORMATION TECHNOLOGY ARE IMPORTANT COMPONENTS OF EACH PROGRAM. LABOURE COLLEGE AND EACH OF ITS PROGRAMS ARE REGIONALLY ACCREDITED BY NEW ENGLAND COMMISSION OF HIGHER EDUCATION.

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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 $557,746

Program Service Revenue $10,490,446

Investment Income $592,517

Other Revenue $213,472

TOTAL REVENUE $11,854,181

Expense Breakdown

Grants Paid $701,296

Salaries & Benefits $10,924,408

Fundraising Expenses $592,919

Program Expenses $12,690,511

Other Expenses $6,348,809

TOTAL EXPENSES $17,974,513

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,854,181	$14,239,646	-0.2%
Expenses	$17,974,513	$19,923,293	-0.1%
Net Income	$-6,120,332	$-5,683,647	+0.1%

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

226

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

$1,124,038

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIM BASSETT	DIRECTOR	0.30	Director	$0	$0	$0
ROBERT DIMASE	DIRECTOR	0.30	Director	$0	$0	$0
DEBRA FARRAR-PARKMAN	DIRECTOR	0.30	Director	$0	$0	$0
THERESE FITZGERALD	DIRECTOR	0.30	Director	$0	$0	$0
GEORGE GEARY	DIRECTOR	0.30	Director	$0	$0	$0
DEIRDRE HOUTMEYERS	DIRECTOR	0.30	Director	$0	$0	$0
JEANNE KELLY	DIRECTOR	0.30	Director	$0	$0	$0
MARY ANNE LAGAN	DIRECTOR (UNTIL 5/23/25)	0.30	Director	$0	$0	$0
BILL MCGINLEY	DIRECTOR	0.30	Director	$0	$0	$0
JEAN YANG	DIRECTOR (UNTIL 10/24/24)	0.30	Director	$0	$0	$0
FR ERIC CADIN	DIRECTOR	0.30	Director	$0	$0	$0
JOSEPH RIZZO	CHAIR	0.30	Officer Director	$0	$0	$0
ROBERTA COEN	VICE CHAIR	0.30	Officer Director	$0	$0	$0
JOSHUA B SIEGEL	TREASURER	0.30	Officer Director	$0	$0	$0
WATURA FINLEY	SECRETARY	0.30	Officer Director	$0	$0	$0
LILY S HSU EDD	PRESIDENT	40.00	Officer	$445,143	$26,031	$471,174
WILLIAM MCDONALD	VP OF FINANCE AND ADMINISTRATION	40.00	Officer	$252,853	$21,837	$274,690
JEREMY SHEPARD VP STUDENT	AFFAIRS & CHIEF STUDENT OFFICER	40.00	Officer	$144,519	$3,958	$148,477
KATELYN DWYER EXEC DIRECTOR	OF COMMUNICATIONS & DEVELOPMENT	40.00	Officer	$197,966	$31,731	$229,697
JACQUELYN POLITO	NDT DEPARTMENT CHAIR (UNTIL 7/1/24)	40.00	Highest	$165,929	$12,370	$178,299
JO ANNE FOLEY	ASSOCIATE PROFESSOR	40.00	Highest	$159,181	$3,264	$162,445
WAYNE PETERSON	DIRECTOR OF INFORMATION TECHNOLOGY	40.00	Highest	$174,997	$7,231	$182,228
NANCY MCDONALD	ASSISTANT PROFESSOR	40.00	Highest	$155,241	$12,016	$167,257
EILLEEN COSTELLO	DEAN OF NURSING	40.00	Highest	$184,219	$12,935	$197,154
JEREMY SPENCER FORMER VP OF	ACADEMIC & STUDENT AFFAIRS	0.00		$105,343	$4,834	$110,177

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	$11,854,181	$17,974,513	$35,164,874	$-6,120,332
2024	$14,239,646	$19,923,293	$41,164,074	$-5,683,647
2023	$21,212,916	$20,980,062	$46,872,756	$232,854
2022	$24,593,716	$21,482,673	$46,254,631	$3,111,043
2021	$27,640,427	$19,201,452	$45,194,532	$8,438,975
2020	$22,050,417	$16,418,661	$42,853,345	$5,631,756
2019	$18,873,236	$16,769,523	$36,231,443	$2,103,713
2018	$17,861,608	$16,386,167	$33,868,279	$1,475,441