FITCHBURG STATE UNIVERSITY FOUNDATION INC (EIN 042661048) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

Donna Hodge

Phone

9786653457

Tax Period

2023-07-01 to 2024-06-30

FITCHBURG STATE UNIVERSITY FOUNDATION INC, founded in 1978, is a community nonprofit in the Education sector that reported $4.3M in total revenue in fiscal year 2023. The organization ran a surplus of $2.6M, a strong 59% operating margin.

Mission

To support the educational endeavors of Fitchburg State University

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,942,690

Program Service Revenue $31,122

Investment Income $1,330,733

Other Revenue $30,368

TOTAL REVENUE $4,334,913

Expense Breakdown

Grants Paid $1,207,060

Salaries & Benefits $0

Fundraising Expenses $2,236

Program Expenses $1,667,856

Other Expenses $561,639

TOTAL EXPENSES $1,768,699

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,334,913	$4,348,295	0.0%
Expenses	$1,768,699	$1,530,404	+0.2%
Net Income	$2,566,214	$2,817,891	-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

N/A

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

$938,443

Total Directors

Key Employees

$1,318,368

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nicholas D Smith	Director	0.20	Director	$0	$0	$0
John T Garten	Director	0.20	Director	$0	$0	$0
Donata Martin	Director	0.20	Director	$0	$0	$0
Barbara Mahoney	Director	0.20	Director	$0	$0	$0
Lorie Martiska	Director	0.20	Director	$0	$0	$0
Mark Lambert	Director	0.20	Director	$0	$0	$0
Mary Beth Jokela	Director	0.20	Director	$0	$0	$0
Marc Dohan	Director	0.20	Director	$0	$0	$0
Anthony J Mercadante	Treasurer Audit Chair	0.50	Officer Director	$0	$0	$0
John P Mahan	Clerk	0.50	Officer Director	$0	$0	$0
Anna M Clementi	Director	0.20	Director	$0	$0	$0
Eric Gregoire	Director	0.20	Director	$0	$0	$0
Patricia Pistone	Director	0.20	Director	$0	$0	$0
Richard S Lapidus	President	10.00	Officer Key Emp	$0	$24,148	$297,403
Jay D Bry	VP of Finance Administration	10.00	Officer Key Emp	$0	$15,125	$216,496
Jeffrey Wolfman	vP Advancement	10.00	Officer Key Emp	$0	$34,312	$202,799
Patricia Marshall	VP Academic Affairs Provost	0.20	Officer Key Emp	$0	$24,148	$221,745
Laura Bayless	VP Student Affairs	0.00	Key Emp Highest	$0	$34,312	$197,700
Nadimpalli Mahadev	Professor	0.00	Highest	$0	$34,312	$232,969
Paul Weizer	Professor	0.00	Highest	$0	$29,596	$199,733
Jessica Murdoch	VP of HR Payroll	0.00	Key Emp Highest	$0	$24,148	$182,225
Natalia Kourtonina	Professor	0.00	Highest	$0	$15,479	$206,128
Xuzhou Chen	Professor	0.00	Highest	$0	$0	$205,981

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	$4,334,913	$1,768,699	$36,292,559	$2,566,214
2023	$4,348,295	$1,530,404	$31,285,087	$2,817,891
2022	$3,824,038	$1,336,245	$26,762,004	$2,487,793
2021	$3,569,553	$1,100,283	$30,585,232	$2,469,270

FITCHBURG STATE UNIVERSITY FOUNDATION INC