Westfield State University Foundat… - Form 990 Financial Data

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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

1980

Legal Domicile

Principal Officer

WILLIAM HYNES

Phone

4135725489

Tax Period

2024-07-01 to 2025-06-30

Westfield State University Foundation Inc, founded in 1980, is a community nonprofit in the Education sector that reported $2.9M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $1.3M, a strong 43% operating margin.

Mission

THE FOUNDATION IS CHARGED WITH RECEIVING DONATIONS, INVESTING, AND MAKING EXPENDITURES EXCLUSIVELY FOR THE BENEFIT OF WESTFIELD STATE UNIVERSITY, AND PARTICULARLY BOTH TO PROVIDE SCHOLARSHIPS AND TO SPONSOR EDUCATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $927,423

STUDENT SCHOLARSHIPS - SCHOLARSHIPS GIVEN TO OVER 350 WESTFIELD STATE UNIVERSITY STUDENTS FOR FALL AND SPRING SEMESTERS.

Program 2

Expenses: $545,953

ON-BEHALF PAYMENTS TO WESTFIELD STATE UNIVERSITY AND GRANTS TO VARIOUS DEPARTMENTS FOR ACADEMIC PROJECTS.

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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 $2,355,575

Program Service Revenue $0

Investment Income $579,420

Other Revenue $-28,698

TOTAL REVENUE $2,906,297

Expense Breakdown

Grants Paid $1,473,376

Salaries & Benefits $0

Fundraising Expenses $72,088

Program Expenses $1,473,376

Other Expenses $172,539

TOTAL EXPENSES $1,645,915

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,906,297	$3,515,390	-0.2%
Expenses	$1,645,915	$1,665,213	0.0%
Net Income	$1,260,382	$1,850,177	-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

N/A

Volunteers

125

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

$780,509

Total Directors

$130,874

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Linda Thompson	President of WSU	1.0	Officer	$0	$70,868	$386,761
Lisa McMahon	Int Exec Director (Thru 11/24)	9.0	Officer	$0	$81,131	$245,124
William Hynes	Exec. Director (Eff. 11/24)	9.0	Officer	$0	$43,838	$148,624
Dr John A Dempsey	Director	1.0	Director	$0	$25,405	$130,874
George Flevotomos	Past Chair	1.0	Officer Director	$0	$0	$0
Kevin R Queenin	1ST VICE CHAIR	1.0	Officer Director	$0	$0	$0
Heather Witalisz	1st Vice Chair	1.0	Officer Director	$0	$0	$0
James Krupienski	Chair	1.0	Officer Director	$0	$0	$0
Eileen S Rockwal	Clerk	1.0	Officer Director	$0	$0	$0
Sheridan F Carey	Director	1.0	Director	$0	$0	$0
Lawrence Gwozdz	Director	1.0	Director	$0	$0	$0
John P Morizio	Director	1.0	Director	$0	$0	$0
Andrea M Pianka	Director	1.0	Director	$0	$0	$0
Melissa A Alvarado	Director	1.0	Director	$0	$0	$0
Joshua T Clark	Director (Thru 04/2025)	1.0	Director	$0	$0	$0
Andrew T Oleksak	Director	1.0	Director	$0	$0	$0
Sharon M Czarnecki	Director	1.0	Director	$0	$0	$0
Chelsea M Russell	Treasurer	1.0	Officer Director	$0	$0	$0
Carlton Pickron	Director	1.0	Director	$0	$0	$0
Ralph M Studley	Director	1.0	Director	$0	$0	$0
Perry Davis	Director	1.0	Director	$0	$0	$0
Austin Morgan	Director	1.0	Director	$0	$0	$0

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	$2,906,297	$1,645,915	$25,055,206	$1,260,382
2024	$3,515,390	$1,665,213	$21,806,518	$1,850,177
2023	$2,361,466	$1,402,589	$18,693,573	$958,877
2022	$2,142,459	$1,179,862	$16,430,810	$962,597
2021	$4,228,113	$848,108	$18,215,222	$3,380,005
2020	$1,288,350	$853,937	$11,811,264	$434,413
2019	$1,645,306	$1,025,769	$11,400,156	$619,537
2018	$1,679,154	$1,970,501	$10,486,002	$-291,347

Westfield State University Foundation Inc