NEW ENGLAND INSTITUTE OF TECHNOLOGY

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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

1970

Legal Domicile

Principal Officer

RICHARD I GOUSE

Phone

4017395000

Tax Period

2024-07-01 to 2025-06-30

NEW ENGLAND INSTITUTE OF TECHNOLOGY, founded in 1970, is a major nonprofit in the Education sector that reported $107.2M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $20.1M, a strong 19% operating margin.

Mission

GENERAL AND TECHNICAL EDUCATION SERVICES

Program Service Accomplishments

Program 1

Expenses: $87,142,545 Revenue: $84,441,962

GENERAL AND TECHNICAL EDUCATION SERVICES

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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 $85,525

Program Service Revenue $84,441,962

Investment Income $22,602,499

Other Revenue $67,184

TOTAL REVENUE $107,197,170

Expense Breakdown

Grants Paid $15,146,323

Salaries & Benefits $37,849,613

Fundraising Expenses $0

Program Expenses $87,142,545

Other Expenses $34,146,609

TOTAL EXPENSES $87,142,545

Year-over-Year Comparison

	2024	2023	Change
Revenue	$107,197,170	$96,172,791	+0.1%
Expenses	$87,142,545	$85,312,011	+0.0%
Net Income	$20,054,625	$10,860,780	+0.8%

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

685

Volunteers

N/A

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

$4,356,448

Total Directors

$1,265,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR WILLIAM CROASDALE	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH DEANGELIS	TRUSTEE	1.00	Director	$0	$0	$0
FRANCIS X FLAHERTY	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN L MELTZER	TRUSTEE	1.00	Director	$0	$0	$0
PHILLIP KYDD	TRUSTEE	1.00	Director	$0	$0	$0
ROANNE SRAGOW LICHT	TRUSTEE	1.00	Director	$0	$0	$0
LYNETTE LABINGER	TRUSTEE	1.00	Director	$0	$0	$0
JAMES DIOSSA	TRUSTEE	1.00	Director	$0	$0	$0
SETH KURN	TRUSTEE	1.00	Director	$0	$0	$0
JOEL S KENT	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD I GOUSE	PRESIDENT & TRUSTEE	55.00	Officer Director	$1,075,209	$189,791	$1,265,000
CHERYL C CONNORS	SENIOR V.P. & TREASURER	50.00	Officer	$537,503	$148,980	$686,483
SCOTT FREUND	EXEC. VICE PRES.	50.00	Officer	$509,068	$29,242	$538,310
KENNETH F JALBERT	VICE PRESIDENT	50.00	Officer	$291,264	$43,164	$334,428
CATHERINE KENNEDY	VICE PRESIDENT	50.00	Officer	$206,380	$20,977	$227,357
STEVEN KITCHIN	VICE PRESIDENT	50.00	Officer	$154,884	$34,698	$189,582
DOUGLAS SHERMAN JR	SENIOR V.P. & PROVOST	50.00	Officer	$329,581	$43,821	$373,402
ALAN I RESNICK	VICE PRESIDENT	50.00	Officer	$295,969	$42,034	$338,003
AMY GRZYBOWSKI	VICE PRESIDENT	50.00	Officer	$209,003	$6,546	$215,549
THOMAS FAY	VICE PRESIDENT/GENERAL COUNSEL	50.00	Officer	$186,554	$1,780	$188,334
JACQUES LAFLAMME	CIO	45.00	Highest	$200,267	$12,554	$212,821
HENRY YOUNG	ASSISTANT PROVOST	45.00	Highest	$220,387	$36,433	$256,820
DARLENE NORET	ASSISTANT PROVOST	45.00	Highest	$173,283	$25,743	$199,026
HENRY JOHNSON	ASSOCIATE PROFESSOR/DEPT. CHAIR	45.00	Highest	$175,096	$30,946	$206,042
ASHLEY AMROL	NURSING INSTRUCTOR	45.00	Highest	$168,774	$13,457	$182,231

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	$107,197,170	$87,142,545	$460,934,552	$20,054,625
2024	$96,172,791	$85,312,011	$441,731,208	$10,860,780
2023	$78,623,640	$81,361,331	$427,278,790	$-2,737,691
2022	$86,847,795	$77,386,271	$413,061,716	$9,461,524
2021	$84,796,115	$76,178,155	$436,933,579	$8,617,960
2020	$76,736,842	$79,066,895	$403,403,744	$-2,330,053
2019	$90,594,364	$84,532,598	$405,521,235	$6,061,766
2018	$88,604,378	$81,463,789	$396,947,315	$7,140,589