RUSSELL SAGE COLLEGE (EIN 141338488) - 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

1916

Legal Domicile

Principal Officer

FREDERICK BARTHELMAS

Phone

5182442200

Tax Period

2024-07-01 to 2025-06-30

RUSSELL SAGE COLLEGE, founded in 1916, is a mid-sized nonprofit in the Education sector that reported $96.9M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $87.3M left a modest 10% surplus.

Mission

COLLEGIATE EDUCATION OF 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 (2024)

Revenue Breakdown

Contributions & Grants $17,451,735

Program Service Revenue $76,286,536

Investment Income $3,164,858

Other Revenue $34,800

TOTAL REVENUE $96,937,929

Expense Breakdown

Grants Paid $27,843,275

Salaries & Benefits $32,750,340

Fundraising Expenses $825,920

Program Expenses $75,039,437

Other Expenses $26,709,302

TOTAL EXPENSES $87,302,917

Year-over-Year Comparison

	2024	2023	Change
Revenue	$96,937,929	$75,843,599	+0.3%
Expenses	$87,302,917	$71,682,268	+0.2%
Net Income	$9,635,012	$4,161,331	+1.3%

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

1249

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

$1,501,362

Total Directors

$613,018

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER AMES	FORMER PRESIDENT - THRU JULY 2024	40.00	Officer Director	$354,376	$73,037	$427,413
MATTHEW SHAFTEL	PRESIDENT - AS OF JULY 2024	40.00	Officer Director	$177,963	$7,642	$185,605
JOHN BENNETT	TRUSTEE	1.00	Director	$0	$0	$0
THERESE BENTLEY	TRUSTEE	1.00	Director	$0	$0	$0
JUDY CAMPISI	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER DAHL	TRUSTEE	1.00	Director	$0	$0	$0
CAROLINE DECOTA	CHAIR OF BOT	1.00	Officer Director	$0	$0	$0
KATHRYN DIAMOND	TRUSTEE	1.00	Director	$0	$0	$0
JULIA GREENSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
CATHERINE HILL	TRUSTEE	1.00	Director	$0	$0	$0
BELINDA HILTON	TRUSTEE	1.00	Director	$0	$0	$0
ALEXANDRA JUPIN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES KELLERHOUSE	TRUSTEE	1.00	Director	$0	$0	$0
JOAN MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
JEFF MIREL	TRUSTEE	1.00	Director	$0	$0	$0
NICOLE NEWMAN	TRUSTEE	1.00	Director	$0	$0	$0
CHESTER OPALKA	TRUSTEE	1.00	Director	$0	$0	$0
TAMMY PARSONS	TRUSTEE	1.00	Director	$0	$0	$0
EBONY POMPEY-CONWAY	TRUSTEE	1.00	Director	$0	$0	$0
STACEY ROWLAND	TRUSTEE	1.00	Director	$0	$0	$0
RONNYE SHAMAM	TRUSTEE	1.00	Director	$0	$0	$0
PATRICIA SPARRELL	TRUSTEE	1.00	Director	$0	$0	$0
ALBERT SZESNAT	TRUSTEE	1.00	Director	$0	$0	$0
ROBIN TAUBIN	TRUSTEE	1.00	Director	$0	$0	$0
NANCY VALLEY	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTINE WARD	TRUSTEE	1.00	Director	$0	$0	$0
BENITA ZAHN	TRUSTEE	1.00	Director	$0	$0	$0
FREDERICK BARTHELMAS	VP FIN/TREASURER	40.00	Officer	$199,744	$9,945	$209,689
THERESA HAND	PROVOST	40.00	Officer	$189,090	$23,456	$212,546
PATRICIA CELLEMME	VP OF STUDENT LIFE	40.00	Officer	$102,329	$47,970	$150,299
KATHLEEN LESKO	VP OF ENROLLMENT MANAGEMENT	40.00	Officer	$165,488	$3,825	$169,313
KATHRYN ADAMS	FORMER VP INSTITUTIONAL ADVANCEMENT	40.00	Officer	$144,007	$2,490	$146,497
ANDREA REHN	DEAN OF TROY & ALBANY CAMPUS	40.00	Highest	$125,682	$21,156	$146,838
DANIEL CHRISTOPHER	SR DIRECTOR OF MAJOR GIFTS	40.00	Highest	$124,993	$7,194	$132,187
MARYJO VALENTINE	ASSOC VP FINANCE	40.00	Highest	$124,090	$5,751	$129,841
PETER STAPLETON	ASST PROVOST FOR STRATEGIC INITIATIVES	40.00	Highest	$114,278	$33,398	$147,676
ERICA A CARLO	DIRECTOR OF MIS AND IT	40.00	Highest	$105,585	$34,094	$139,679

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	$96,937,929	$87,302,917	$123,661,185	$9,635,012
2024	$75,843,599	$71,682,268	$106,307,119	$4,161,331
2023	$71,697,720	$71,222,188	$99,631,146	$475,532
2022	$74,420,927	$71,869,398	$100,657,700	$2,551,529
2021	$71,216,940	$66,975,771	$104,977,337	$4,241,169
2019	$74,573,438	$68,149,296	$95,364,348	$6,424,142
2018	$65,953,268	$67,025,729	$94,184,664	$-1,072,461

RUSSELL SAGE COLLEGE