FIVE COLLEGES INCORPORATED

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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

1965

Legal Domicile

Principal Officer

YVETTE MORNEAU

Phone

4135424000

Tax Period

2024-07-01 to 2025-06-30

FIVE COLLEGES INCORPORATED, founded in 1965, is a mid-sized nonprofit in the Education sector that reported $10.2M in total revenue in fiscal year 2024. Expenses of $11.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROMOTE THE BROAD EDUCATIONAL AND CULTURAL OBJECTIVES OF THE AFFILIATED INSTITUTIONS OF AMHERST, SMITH, HAMPSHIRE AND MOUNT HOLYOKE COLLEGES AND UNIVERSITY OF MASSACHUSETTS AMHERST BY ENCOURAGING COOPERATION, PROMOTING OPPORTUNITIES FOR JOINT EDUCATION AND ADMINISTRATION.

Program Service Accomplishments

Program 1

Expenses: $5,851,634 Revenue: $5,942,368

PROVIDES COOPERATIVE PROGRAMS SUCH AS STUDENT INTERCHANGE, LIBRARY DEPOSITORY AND OPEN BORROWING AGREEMENTS, JOINT CURRICULAR PROGRAMS, AND JOINT ADMINISTRATIVE PROGRAMS FOR THE FIVE MEMBER...

PROVIDES COOPERATIVE PROGRAMS SUCH AS STUDENT INTERCHANGE, LIBRARY DEPOSITORY AND OPEN BORROWING AGREEMENTS, JOINT CURRICULAR PROGRAMS, AND JOINT ADMINISTRATIVE PROGRAMS FOR THE FIVE MEMBER INSTITUTIONS (30,000 STUDENTS & FACULTY).

Program 2

Expenses: $335,902 Revenue: $114,676

OPERATION OF FIBER OPTIC NETWORK TO CONNECT THE FIVE CAMPUSES WITH HIGH-SPEED BROADBAND INTERNET ACCESS (30,000 STUDENTS & FACULTY SERVED).

Program 3

Expenses: $2,325,164 Revenue: $1,905,333

JOINT FACULTY APPOINTMENTS AND DEVELOPMENT (30,000 STUDENTS & FACULTY 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 $762,313

Program Service Revenue $8,708,722

Investment Income $714,611

Other Revenue $0

TOTAL REVENUE $10,185,646

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,899,853

Fundraising Expenses $159,682

Program Expenses $9,253,045

Other Expenses $7,598,884

TOTAL EXPENSES $11,498,737

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,185,646	$9,924,964	+0.0%
Expenses	$11,498,737	$11,422,557	+0.0%
Net Income	$-1,313,091	$-1,497,593	-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

111

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

$698,423

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL ELLIOT	PRESIDENT	2.00	Officer Director	$0	$0	$0
DANIELLE REN HOLLEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
SARAH WILLIE-LEBRETON	BOARD MEMBER	1.00	Director	$0	$0	$0
JAVIER REYES	BOARD MEMBER	1.00	Director	$0	$0	$0
EDWARD WINGEBACH	BOARD MEMBER	1.00	Director	$0	$0	$0
SARAH PFATTEICHER	EXECUTIVE DIRECTOR/CLERK	40.00	Officer	$324,607	$49,590	$374,197
YVETTE MORNEAU	TREASURER	40.00	Officer	$154,294	$28,787	$183,081
LASHONDA PETTIFORD	ASSISTANT TREASURER	40.00	Officer	$120,732	$20,413	$141,145
RUTH RAULUK	DIRECTOR OF RISK MANAGMENT	40.00	Highest	$136,009	$27,866	$163,875
RAYMOND RENNARD	DIRECTOR OF ACADEMIC PROGRAMS	40.00	Highest	$126,525	$16,905	$143,430
THOMAS BRENNAN	DIRECTOR OF INFORMATION TECHNOLOGY	40.00	Highest	$123,197	$33,801	$156,998
INA CLARK	DIR. OF DEV. & SPONSORED PROGRAMS	40.00	Highest	$108,544	$21,246	$129,790
ANNE PRESCOTT	DIRECTOR, FCC FOR EAST ASIAN STUDIES	40.00	Highest	$105,979	$20,115	$126,094

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	$10,185,646	$11,498,737	$35,078,948	$-1,313,091
2024	No data	No data	No data	No data
2023	$10,026,013	$10,327,953	$35,196,036	$-301,940
2022	$10,361,692	$9,934,528	$34,378,872	$427,164
2021	$9,875,764	$9,556,858	$37,135,646	$318,906
2020	$11,048,612	$9,618,150	$33,094,368	$1,430,462
2019	$9,382,613	$9,644,183	$31,482,900	$-261,570
2018	$8,881,429	$10,616,176	$31,645,985	$-1,734,747