METROPOLITAN COLLEGE OF NEW YORK

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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

1964

Legal Domicile

Principal Officer

Charles J Gibbs

Phone

2123431234

Tax Period

2023-01-01 to 2023-12-31

METROPOLITAN COLLEGE OF NEW YORK, founded in 1964, is a mid-sized nonprofit in the Education sector that reported $19.1M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $26.3M exceeded revenue, resulting in a 37% operating deficit.

Mission

To provide a superior, experientially-based education that fosters personal and prof. develop., promotes social justice, and encourages positive change in workplaces and communities through purpose centered educ. and constructive action methodologies.

Program Service Accomplishments

Program 1

Expenses: $7,053,263

Instruction - Direct Expense incurred for providing education to students in accordance with curriculum established by the college and the state education department.

Program 2

Expenses: $6,038,029

Student Services - Expenses related to facilitate student enrollment at the college.

Program 3

Expenses: $3,333,390

Academic Support - expenses related to management of the faculty and curriculum and departments aiding student instruction.

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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 $1,764,026

Program Service Revenue $16,330,186

Investment Income $837,882

Other Revenue $188,189

TOTAL REVENUE $19,120,283

Expense Breakdown

Grants Paid $2,325,209

Salaries & Benefits $10,141,844

Fundraising Expenses $679,506

Program Expenses $18,679,943

Other Expenses $13,818,081

TOTAL EXPENSES $26,285,134

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,120,283	$28,033,006	-0.3%
Expenses	$26,285,134	$27,720,003	-0.1%
Net Income	$-7,164,851	$313,003	-23.9%

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

262

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

$385,528

Total Directors

$487,496

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joanne Passaro	President	40.00	Officer Director	$368,638	$16,890	$385,528
Anthony Cammarano	Interim CFO	40.00		$213,048	$27,423	$240,471
Humphrey Crookendale	VP of Academic Affairs	40.00		$184,697	$25,828	$210,525
Joy Colelli	VP EM & VP of Enrollment Mgmt	40.00		$199,096	$10,792	$209,888
Kristin Curry	Chief Development Officer	40.00		$179,442	$25,743	$205,185
Adrian Harrison Smith	VP of Technology & COO	40.00		$176,490	$10,110	$186,600
Clotide Ibarra	Dean of Students	40.00		$128,647	$22,817	$151,464
Khanthong Moreno	Asstnt Controller	40.00		$120,925	$7,251	$128,176
Taurean Kennedy	Bursar	40.00		$105,764	$21,960	$127,724
Adele P Weiner	Professor	40.00		$108,813	$6,391	$115,204
Hui-Yin Hsu	Dean of Academic	40.00		$106,137	$6,133	$112,270
PATRICK IANNIELLO	DIRECTOR OF MSED	40.00		$104,076	$6,160	$110,236
Charles Gray	Faculty Trustee	40.00	Director	$81,749	$20,219	$101,968
Precious Stepney	Trustee	1.00	Director	$0	$0	$0
David FA Walker	Trustee	1.00	Director	$0	$0	$0
Louise H Feroe	Trustee	1.00	Director	$0	$0	$0
Patrick Gordon	Trustee	1.00	Director	$0	$0	$0
Gary P Jenkins	Chair	1.00	Officer Director	$0	$0	$0
Paul P Martin	Trustee	1.00	Director	$0	$0	$0
Matthew D Metzger	Treasurer	1.00	Officer Director	$0	$0	$0
Jonathan Reiss	Trustee	1.00	Director	$0	$0	$0
Darlene WIlliams	Secretary	1.00	Officer Director	$0	$0	$0
Constance T Robinson-Turner	Trustee	1.00	Director	$0	$0	$0
Grace G Roosevelt	Trustee	1.00	Director	$0	$0	$0
Melanie Schnoll Begun	Trustee	1.00	Director	$0	$0	$0
Max Holland	Trustee	1.00	Director	$0	$0	$0
Maggie Wojcik	Trustee	1.00	Director	$0	$0	$0
Charles E Armstrong	Chair Emeritus	1.00	Officer Director	$0	$0	$0
Wendy Cohen	Vice Chair	1.00	Officer Director	$0	$0	$0
Andrew Davidson	Trustee	1.00	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$19,120,283	$26,285,134	$83,029,654	$-7,164,851
2022	$28,033,006	$27,720,003	$90,654,524	$313,003
2021	$30,133,687	$30,104,315	$94,231,360	$29,372
2020	$30,977,537	$29,935,638	$96,932,143	$1,041,899
2019	$30,994,659	$31,027,548	$97,395,972	$-32,889
2018	$32,154,011	$32,010,808	$97,471,790	$143,203