FACULTY-STUDENT ASSOCIATION OF ADI… - 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

1967

Legal Domicile

Principal Officer

KEITH B KAPLAN CPA

Phone

5186815610

Tax Period

2024-06-01 to 2025-05-31

FACULTY-STUDENT ASSOCIATION OF ADIRONDACK COMMUNITY COLLEGE INC, founded in 1967, is a community nonprofit in the Education sector that reported $4.6M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $4.3M left a modest 6% surplus.

Mission

A NONPROFIT ORGANIZATION WITH THE PRIMARY PURPOSE OF SUPPORTING AND MEETING THE VARYING EDUCATIONAL, SOCIAL AND CULTURAL NEEDS OF THE COLLEGE. IN ADDITION, THE FSA MAINTAINS FINANCIAL RESERVES TO INVEST IN SUPPORTING ON-CAMPUS ACTIVITIES AND GROUPS AND IS A LARGE FINANCIAL CONTRIBUTOR TO MANY CAMPUS IMPROVEMENT PROJECTS. THE FSA ALSO ADMINISTERS THE STUDENT ACTIVITIES FUND, WHICH OFTEN PROVIDES OTHER SERVICES THAT TIE INTO THE ONGOING COMMITMENT TO BROADEN THE SERVICES THAT ARE AVAILABLE TO THE SUNY ADIRONDACK COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $4,016,160 Revenue: $4,461,774

OPERATION, OVERSIGHT AND OTHER ACTIVITIES TO SUPPORT CAMPUS ACTIVITIES.

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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 $0

Program Service Revenue $4,314,174

Investment Income $160,090

Other Revenue $147,600

TOTAL REVENUE $4,621,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $553,324

Fundraising Expenses $0

Program Expenses $4,016,160

Other Expenses $3,777,181

TOTAL EXPENSES $4,330,505

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,621,864	$5,079,416	-0.1%
Expenses	$4,330,505	$4,552,350	0.0%
Net Income	$291,359	$527,066	-0.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH KAPLAN	PRESIDENT	5.00	Officer Director	$0	$0	$0
RITA DEBNAM	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
WENDY JOHNSTON	SECRETARY	5.00	Officer Director	$0	$0	$0
MATTHEW MULLER	TREASURER	5.00	Officer Director	$0	$0	$0
BERT RAWERT	DIRECTOR	2.00	Director	$0	$0	$0
DAVID SMITH	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE SPRAGUE	DIRECTOR	2.00	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
2025	$4,621,864	$4,330,505	$26,169,378	$291,359
2024	$5,079,416	$4,552,350	$26,769,343	$527,066
2023	$4,811,006	$4,658,037	$26,298,924	$152,969
2022	$1,759,035	$3,126,065	$26,078,804	$-1,367,030
2021	$720,958	$2,170,897	$28,334,937	$-1,449,939
2020	$2,204,729	$2,019,826	$30,077,335	$184,903
2019	$3,929,178	$3,042,612	$30,298,083	$886,566

FACULTY-STUDENT ASSOCIATION OF ADIRONDACK COMMUNITY COLLEGE INC