VAUGHN COLLEGE OF AERONAUTICS AND … - 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

1932

Legal Domicile

Principal Officer

DR SHARON DEVIVO

Phone

7184296600

Tax Period

2023-09-01 to 2024-08-31

VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY, founded in 1932, is a mid-sized nonprofit in the Education sector that reported $42.6M in total revenue in fiscal year 2023.

Mission

TO PROVIDE A DYNAMIC LEARNING ENVIRONMENT BUILT ON OUR AERONAUTICAL HERITAGE THAT INSPIRES A DIVERSE AND COMMITTED COMMUNITY OF STUDENTS TO ACHIEVE SUCCESS AS LEADERS IN THE INDUSTRIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $30,014,634 Revenue: $29,590,130

INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSTITUTION ALSO OFFERS A...

INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSTITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,300 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS.

Program 2

Expenses: $2,323,289 Revenue: $1,417,292

AUXILIARY SERVICES - VAUGHN OPERATES A 194 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2023/2024 APPROXIMATELY 89 STUDENTS WERE LIVING IN THE RESIDENCE HALL.

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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 $6,193,155

Program Service Revenue $30,888,772

Investment Income $5,379,094

Other Revenue $152,826

TOTAL REVENUE $42,613,847

Expense Breakdown

Grants Paid $3,744,422

Salaries & Benefits $17,615,628

Fundraising Expenses $546,150

Program Expenses $32,337,923

Other Expenses $21,897,619

TOTAL EXPENSES $43,257,669

Year-over-Year Comparison

	2023	2022	Change
Revenue	$42,613,847	$40,693,540	+0.0%
Expenses	$43,257,669	$43,562,964	0.0%
Net Income	$-643,822	$-2,869,424	-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

472

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

$1,253,675

Total Directors

$417,816

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
APRIL GASPARRI	TRUSTEE	1.00	Director	$0	$0	$0
BARRY ECCLESTON	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS IZARRA	TRUSTEE	1.00	Director	$0	$0	$0
DR DALMA NOVAK	SECRETARY	1.00	Officer Director	$0	$0	$0
DR SHARON B DEVIVO	PRESIDENT	40.00	Officer Director	$408,719	$9,097	$417,816
KATHERINE B POSNER	TRUSTEE (OUTGOING)	1.00	Director	$0	$0	$0
KEN STAUFFER	TRUSTEE (OUTGOING)	1.00	Director	$0	$0	$0
LYSA C SCULLY LEIPONIS	SECRETARY (OUTGOING)	1.00	Officer Director	$0	$0	$0
MARY WARD-CALLAN	TREASURER	1.00	Officer Director	$0	$0	$0
OSWIN MOORE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PATTY CLARK	TRUSTEE	1.00	Director	$0	$0	$0
PETER A VAUGHN	CHAIR	1.00	Officer Director	$0	$0	$0
RODERICK K RANDALL	TRUSTEE	1.00	Director	$0	$0	$0
SURYA RAGHU	TRUSTEE	1.00	Director	$0	$0	$0
TERI BRISTOL	TRUSTEE	1.00	Director	$0	$0	$0
DOMENIC PROSCIA	VP TRAINING	40.00	Officer	$187,031	$4,717	$191,748
KELLI L SMITH	VP STUDENT AFFAIRS	40.00	Officer	$158,821	$2,322	$161,143
PAUL LAVERGNE	VP ACADEMIC AFFAIRS	40.00	Officer	$171,014	$40,980	$211,994
ROBERT G WALDMANN	VP FIN. & BUS. SERV.	40.00	Officer	$264,407	$6,567	$270,974
AMIR ELZAWAWY	PROFESSOR	40.00	Highest	$150,064	$18,552	$168,616
GHANIA BENBELKACEM	ASSISTANT PROFESSOR	40.00	Highest	$150,238	$18,089	$168,327
HOSSEIN RAHEMI	PROFESSOR, CHAIR	40.00	Highest	$175,927	$19,006	$194,933
MARGARET DUCHARME	ASSOCIATE PROFESSOR	40.00	Highest	$150,945	$18,252	$169,197
RONALD RUGGERI	INSTRUCTOR OF TECH. SPEC	40.00	Highest	$157,266	$1,393	$158,659

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	$42,613,847	$43,257,669	$84,761,421	$-643,822
2023	$40,693,540	$43,562,964	$90,841,107	$-2,869,424
2022	$40,549,911	$43,389,503	$98,455,390	$-2,839,592
2021	$41,818,773	$44,761,879	$105,761,771	$-2,943,106
2020	$50,907,424	$50,942,722	$105,350,258	$-35,298
2019	$43,626,571	$45,496,322	$109,809,944	$-1,869,751
2018	$41,341,629	$42,840,296	$111,097,987	$-1,498,667

VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY