MITCHELL COLLEGE (EIN 060662150) - 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

1938

Legal Domicile

Principal Officer

DR TRACY Y ESPY

Phone

8607015016

Tax Period

2022-07-01 to 2023-06-30

MITCHELL COLLEGE, founded in 1938, is a mid-sized nonprofit in the Education sector that reported $28.1M in total revenue in fiscal year 2022. Revenue decreased 12% compared to the prior year.

Mission

MITCHELL COLLEGE IS A SMALL, PRIVATE LIBERAL ARTS COLLEGE LOCATED ALONG THE THAMES RIVER IN HISTORIC NEW LONDON, CT. BASED ON ITS HISTORY OF EDUCATING A DIVERSE GROUP OF THINKERS AND LEARNERS, MITCHELL COLLEGE PROVIDES A STRENGTH-BASED, HOLISTIC EDUCATION THAT GIVES ITS STUDENTS THE ADAPTABILITY THEY NEED TO LEAD FULL PROFESSIONAL AND PERSONAL LIVES. OUR NON-TRADITIONAL EDUCATIONAL FOCUS IS DESIGNED TO DEVELOP THE STRENGTHS OF EACH OF OUR STUDENTS AND FIND WAYS TO HIGHLIGHT THESE STRENGTH AREAS. ADDITIONALLY, THE FOCUS OF OUR EDUCATION IS BASED ON THE PREMISE THAT EACH STUDENT FINDS IDENTITY, MEANING, AND PURPOSE THROUGH THE DEVELOPMENT OF THEIR EMOTIONAL, SOCIAL, AND CREATIVE POTENTIALS, NOT LIMITED SIMPLY TO THEIR COGNITIVE DEVELOPMENT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $2,142,246

Program Service Revenue $25,110,072

Investment Income $126,070

Other Revenue $753,175

TOTAL REVENUE $28,131,563

Expense Breakdown

Grants Paid $7,758,088

Salaries & Benefits $12,027,277

Fundraising Expenses $558,931

Program Expenses $20,994,771

Other Expenses $9,888,780

TOTAL EXPENSES $29,674,145

Year-over-Year Comparison

	2022	2021	Change
Revenue	$28,131,563	$32,035,495	-0.1%
Expenses	$29,674,145	$29,259,175	+0.0%
Net Income	$-1,542,582	$2,776,320	-1.6%

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

440

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

$556,547

Total Directors

$351,099

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LUCILLA ARANGO	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
HELENE BANKS	TRUSTEE	1.00	Director	$0	$0	$0
PATRICK CAULFIELD	TRUSTEE	1.00	Director	$0	$0	$0
NANCY DOLAN	SECRETARY	1.00	Officer Director	$0	$0	$0
PEGGY FLOOD	TRUSTEE	1.00	Director	$7,308	$0	$7,308
WALTER KUHN	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH MARIANI	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA PRATT	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES PRATT	TRUSTEE	1.00	Director	$0	$0	$0
KIM RUFFING	TRUSTEE	1.00	Director	$0	$0	$0
DAVID SANDBERG	TRUSTEE	1.00	Director	$0	$0	$0
MARK SHOEMAKER	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE WHITE	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD D'AVINO	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
THOMAS RUFFING	TREASURER	1.00	Officer Director	$0	$0	$0
GWEN MARIANI	TRUSTEE	1.00	Director	$0	$0	$0
TRACY ESPY	PRESIDENT	60.00	Officer Director	$292,521	$51,270	$343,791
KERIN DA CRUZ	TRUSTEE	1.00	Director	$0	$0	$0
JASON GUYOT	TRUSTEE	1.00	Director	$0	$0	$0
ANDY KOHA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL O'CONNOR	TRUSTEE	1.00	Director	$0	$0	$0
NORMAN SOLOMON	TRUSTEE	1.00	Director	$0	$0	$0
CORNELL YARBOUGH	TRUSTEE	1.00	Director	$0	$0	$0
MARK ALBERTI	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN COLEMAN	TRUSTEE	1.00	Director	$0	$0	$0
MOISH TOV	TRUSTEE	1.00	Director	$0	$0	$0
MARK VERBOS	TRUSTEE	1.00	Director	$0	$0	$0
DR ANNE BINGHAM PIERSON	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT PERUZZOTTI	VP FINANCE & OPERATIONS	60.00	Officer	$196,930	$15,826	$212,756
JOSEPH PARDEE	DIRECTOR FACILITIES	50.00	Highest	$122,416	$39,746	$162,162
BEAULIEU ELIZABETH ANN	VP ADADEMIC AFFAIRS	50.00	Highest	$147,474	$21,112	$168,586
NANCY COWSER	CHIEF ADVANCEMENT AND ALUMNI AFFAIRS OFFICER	50.00	Highest	$140,149	$304	$140,453
ALICIA MARTINEZ	DEAN OF STUDENT EXPERIENCE AND BELONGING	50.00	Highest	$114,395	$16,685	$131,080
ROBERT FORCIER	ASSOCIATE PROFESSOR	50.00	Highest	$101,667	$35,240	$136,907

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	No data	No data	No data	No data
2023	$28,131,563	$29,674,145	$42,749,139	$-1,542,582
2022	$32,035,495	$29,259,175	$45,109,484	$2,776,320
2021	$29,505,671	$29,500,203	$44,401,950	$5,468
2020	$31,379,437	$30,007,636	$42,145,371	$1,371,801
2019	$29,782,673	$29,800,472	$31,578,182	$-17,799
2018	$29,074,899	$28,405,773	$32,269,403	$669,126

MITCHELL COLLEGE