COLLEGE OF NEW ROCHELLE

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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

1904

Legal Domicile

Principal Officer

MICHAEL O'DONNELL

Phone

9142408646

Tax Period

2018-07-01 to 2019-06-30

COLLEGE OF NEW ROCHELLE, founded in 1904, is a mid-sized nonprofit that reported $73.1M in total revenue in fiscal year 2018.

Mission

THE COLLEGE OF NEW ROCHELLE WAS DEDICATED TO THE EDUCATION OF WOMEN AND MEN IN THE LIBERAL ARTS AND IN PROFESSIONAL STUDIES. BUILDING UPON ITS ORIGINAL COMMITMENT TO WOMEN, THE COLLEGE ALSO REACHED OUT TO THOSE WHO HAD NOT PREVIOUSLY HAD ACCESS TO HIGHER EDUCATION. IT PLACED PARTICULAR EMPHASIS ON THE CONCEPT OF LIFELONG LEARNING. THE COLLEGE WAS COMMITTED TO A RESPECT AND CONCERN FOR EACH INDIVIDUAL.

Program Service Accomplishments

Program 1

Expenses: $54,771,711 Revenue: $62,245,174

HIGHER EDUCATION. THE COLLEGE OF NEW ROCHELLE PROVIDED UNDERGRADUATE AND GRADUATE EDUCATION FOR MORE THAN 4000 STUDENTS ANNUALLY. THE STUDENTS ATTENDED THE SCHOOL OF ARTS & SCIENCES, THE SCHOOL OF...

HIGHER EDUCATION. THE COLLEGE OF NEW ROCHELLE PROVIDED UNDERGRADUATE AND GRADUATE EDUCATION FOR MORE THAN 4000 STUDENTS ANNUALLY. THE STUDENTS ATTENDED THE SCHOOL OF ARTS & SCIENCES, THE SCHOOL OF NURSING & HEALTHCARE PROFESSIONS, THE SCHOOL OF NEW RESOURCES AND THE GRADUATE SCHOOL.

Program 2

Expenses: $1,474,325 Revenue: $4,046,525

ROOM AND BOARD FOR STUDENTS WHO RESIDED ON CAMPUS AND OTHER ANCILLARY AND AUXILIARY RELATED ACTIVITIES FOR ALL STUDENTS.

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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 (2018)

Revenue Breakdown

Contributions & Grants $5,996,935

Program Service Revenue $66,291,699

Investment Income $97,435

Other Revenue $757,735

TOTAL REVENUE $73,143,804

Expense Breakdown

Grants Paid $16,292,504

Salaries & Benefits $28,593,377

Fundraising Expenses $2,319,550

Program Expenses $56,246,036

Other Expenses $26,596,698

TOTAL EXPENSES $71,482,579

Year-over-Year Comparison

	2018	2017	Change
Revenue	$73,143,804	$72,343,386	+0.0%
Expenses	$71,482,579	$75,315,947	-0.1%
Net Income	$1,661,225	$-2,972,561	-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

1183

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

$462,725

Total Directors

$240,563

Key Employees

$910,927

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GWEN ADOLPH	TRUSTEE, CHAIR (7/1/18-1/1/19)	25.00	Officer Director	$0	$0	$0
LILLIAN BRENNAN CARNEY	TRUSTEE	10.00	Director	$0	$0	$0
TYRONE DAVIS	TRUSTEE	5.00	Director	$0	$0	$0
CHRISTINE DEVINNE	TRUSTEE	5.00	Director	$0	$0	$0
CYNTHIA DIPIETRANTONIO	TRUSTEE (7/1/18-10/26/18)	1.00	Director	$0	$0	$0
CARLA ROMITA ECCLESTON	TRUSTEE (7/1/18-12/31/18)	3.00	Director	$0	$0	$0
KAREN CALO	TRUSTEE	5.00	Director	$0	$0	$0
KATHLEEN FINNERTY	TRUSTEE	5.00	Director	$0	$0	$0
CELESTE M JOHNSON	TRUSTEE	5.00	Director	$0	$0	$0
CHRISTINE LASALA	TRUSTEE, VICE CHAIR (7/1/18-1/2/19)	25.00	Officer Director	$0	$0	$0
JOHN NICHOLSON	TRUSTEE (TO 10/23/18)	10.00	Director	$0	$0	$0
ANN PETERSON	TRUSTEE	10.00	Director	$0	$0	$0
JANE SCULLY REICHLE	TRUSTEE, VICE CHAIR (1/3/19-CURRENT)	10.00	Officer Director	$0	$0	$0
MARY SOMMER	TRUSTEE	10.00	Director	$0	$0	$0
ELIZABETH SWENEY	TRUSTEE	10.00	Director	$0	$0	$0
MARLENE MELONE TUTERA	TRUSTEE, CHAIR (1/1/19-CURRENT)	25.00	Officer Director	$0	$0	$0
JOAN WOODCOME	TRUSTEE (7/1/18-8/31/18)	3.00	Director	$0	$0	$0
WILLIAM LATIMER	PRESIDENT (4/1/18-8/9/19)	60.00	Officer Director	$236,867	$3,696	$240,563
DOROTHY ESCRIBANO	INTERIM PRES (TO 3/31/18)	40.00	Officer	$213,414	$8,748	$222,162
THOMAS CUNNINGHAM	VP FINANCE & ADMIN (TO 5/2019)	40.00	Key Emp	$239,084	$18,980	$258,064
KEVIN CAVANAGH	EXEC VP STRATEGY & PLAN (TO 1/18/19)	40.00	Key Emp	$230,354	$6,900	$237,254
BRENNA MAYER	VP COLLEGE ADVANCEMENT (TO 7/8/19)	40.00	Key Emp	$224,439	$11,329	$235,768
H MICHAEL DREHER	VP HEALTHCARE INNOVATION (TO 4/4/19)	40.00	Key Emp	$160,861	$18,980	$179,841
DAVID DONNELLY	SR VP OF ACADEMIC AFFAIRS (TO 8/9/19)	40.00	Highest	$175,101	$0	$175,101
KRISTINE SOUTHARD	DEAN SNR (TO 8/9/19)	40.00	Highest	$159,943	$0	$159,943
DEBRA SIMONS	DEAN SCHOOL OF NURSING (TO 3/1/19)	40.00	Highest	$150,319	$0	$150,319
LOUIS DESALLE	ASSOC DEAN CIRRICULUM & INSTRUCTION	40.00	Highest	$146,194	$0	$146,194
MICHAEL O'DONNELL	CONTROLLER	55.00	Highest	$140,288	$0	$140,288

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
2019	$73,143,804	$71,482,579	$77,421,794	$1,661,225