COLLEGE OF OUR LADY OF THE ELMS

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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

1928

Legal Domicile

Principal Officer

HARRY DUMAY

Phone

4135942761

Tax Period

2024-07-01 to 2025-06-30

COLLEGE OF OUR LADY OF THE ELMS, founded in 1928, is a mid-sized nonprofit in the Education sector that reported $45.5M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year.

Mission

THE COLLEGE OF OUR LADY OF THE ELMS, A CATHOLIC COLLEGE, EDUCATES A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. COMBINING A LIBERAL ARTS EDUCATION WITH PROFESSIONAL STUDIES, ELMS COLLEGE EMPOWERS STUDENTS TO EFFECT POSITIVE CHANGES IN THE COMMUNITY AND IN THE WORLD. AFFIRMING THE FOUNDING TRADITION OF THE SISTERS OF ST. JOSEPH, ELMS COLLEGE CHALLENGES STUDENTS TO EMBRACE CHANGE WITHOUT COMPROMISING PRINCIPLE, TO RESPOND CREATIVELY TO THE DEMANDS OF THEIR CHOSEN CAREERS, AND TO ADVOCATE FOR PEOPLE IN NEED. ELMS COLLEGE IS A COMMUNITY ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, AND RESPONSIVE TO CIVIC AND SOCIAL OBLIGATIONS.

Program Service Accomplishments

Program 1

Expenses: $35,990,263 Revenue: $37,568,859

THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY AND HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. DURING THE 2024/2025 SCHOOL YEAR, WE SERVED 1,633 FULL AND PART TIME STUDENTS.

Program 2

Expenses: $1,445,635 Revenue: $2,932,791

AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. DURING THE YEAR 2,103 PEOPLE WERE SERVED.

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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 $3,163,279

Program Service Revenue $40,501,650

Investment Income $1,258,138

Other Revenue $587,051

TOTAL REVENUE $45,510,118

Expense Breakdown

Grants Paid $18,296,348

Salaries & Benefits $19,066,436

Fundraising Expenses $847,360

Program Expenses $37,435,898

Other Expenses $12,045,178

TOTAL EXPENSES $49,407,962

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,510,118	$50,475,088	-0.1%
Expenses	$49,407,962	$49,649,874	0.0%
Net Income	$-3,897,844	$825,214	-5.7%

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

660

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

$567,628

Total Directors

Key Employees

$172,355

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL M STELZER	CHAIR OF BOARD	2.00	Officer Director	$0	$0	$0
KATHLEEN M KANE	VICE CHAIR OF BOARD	2.00	Officer Director	$0	$0	$0
BETH E ANDERSON	TRUSTEE	2.00	Director	$0	$0	$0
KATHLEEN L BERNARDO	TRUSTEE	2.00	Director	$0	$0	$0
SR JEAN R BOSTLEY	TRUSTEE	2.00	Director	$0	$0	$0
PASCALE DESIR	TRUSTEE	2.00	Director	$0	$0	$0
B JOHN DILL	TRUSTEE	2.00	Director	$0	$0	$0
ELIZABETH G DINEEN	TRUSTEE	2.00	Director	$0	$0	$0
DENNIS DUQUETTE	TRUSTEE	2.00	Director	$0	$0	$0
LAWRENCE F EAGAN	TRUSTEE	2.00	Director	$0	$0	$0
MARK M FULCO	TRUSTEE	2.00	Director	$0	$0	$0
LINDSEY M GAMBLE	TRUSTEE	2.00	Director	$0	$0	$0
MELISSA R GILLIS	TRUSTEE	2.00	Director	$0	$0	$0
FAWWAZ HABBAL	TRUSTEE	2.00	Director	$0	$0	$0
KRISTIN FERRITER HAGAN	TRUSTEE	2.00	Director	$0	$0	$0
PETER J HARRINGTON	TRUSTEE	2.00	Director	$0	$0	$0
REGINA NOONAN HITCHERY	TRUSTEE	2.00	Director	$0	$0	$0
CAROLYN JACOBS	TRUSTEE	2.00	Director	$0	$0	$0
PAUL MARCHESE	TRUSTEE	2.00	Director	$0	$0	$0
LYDIA MARTINEZ-ALVAREZ	TRUSTEE	2.00	Director	$0	$0	$0
MARK O'CONNELL	TRUSTEE	2.00	Director	$0	$0	$0
SR CATHERINE ORMOND	TRUSTEE	2.00	Director	$0	$0	$0
FRANK ROBINSON	TRUSTEE	2.00	Director	$0	$0	$0
MARTHA R ROSS	TRUSTEE	2.00	Director	$0	$0	$0
PEDRO SANCHEZ JR	TRUSTEE	2.00	Director	$0	$0	$0
SR ELEANOR M SPRING	TRUSTEE	2.00	Director	$0	$0	$0
CHERYL STANLEY	TRUSTEE	2.00	Director	$0	$0	$0
SR BETSY SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
EILEEN O'LEARY SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD K SULLIVAN JR	TRUSTEE	2.00	Director	$0	$0	$0
SR JANE THOMAS	TRUSTEE	2.00	Director	$0	$0	$0
ASHLEY VANASSE	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL K VANN	TRUSTEE	2.00	Director	$0	$0	$0
LISA WILLS	TRUSTEE	2.00	Director	$0	$0	$0
BRYANT MORGAN 324 TO 1024	INTERIM VP FIN & ADMIN/TREASURER	35.00	Officer	$0	$0	$0
HARRY DUMAY	PRESIDENT	35.00	Officer	$413,818	$29,946	$443,764
BEVIN PETERS	CLERK/EXEC. ASST. TO PRES.	35.00	Officer	$65,475	$10,474	$75,949
BRETT CARROLL AS OF 1024	VP OF FIN & ADMIN/ TREASURER	35.00	Officer	$46,519	$1,396	$47,915
JOYCE HAMPTON	VP OF ACADEMIC AFFAIRS	35.00	Key Emp	$161,116	$11,239	$172,355
DEANA NUNES	ASST CLINICAL PROFESSOR OF NURSING	35.00	Highest	$153,572	$17,569	$171,141
AMANDA GARCIA	DIRECTOR, MBA PROGRAM	35.00	Highest	$171,458	$25,449	$196,907
PETER DEPERGOLA	ASC PROF BIOETHICS & MED HUMANITIES	35.00	Highest	$159,272	$3,278	$162,550
JANET WILLIAMS	PROFESSOR OF BIOLOGY	35.00	Highest	$160,835	$4,395	$165,230
JULIE BECK	DEAN OF NURSING	35.00	Highest	$154,496	$18,392	$172,888

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	$45,510,118	$49,407,962	$81,892,976	$-3,897,844
2024	No data	No data	No data	No data
2023	$47,812,211	$45,063,453	$79,290,502	$2,748,758
2022	$52,596,460	$45,850,798	$76,384,477	$6,745,662
2021	$46,446,695	$41,410,406	$76,626,054	$5,036,289
2020	$46,386,940	$42,557,553	$69,356,608	$3,829,387
2019	$46,068,010	$41,403,826	$61,319,804	$4,664,184
2018	$43,048,084	$41,416,833	$57,082,737	$1,631,251