ITHACA COLLEGE (EIN 150532204) - 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

1892

Legal Domicile

Principal Officer

LA JERNE TERRY CORNISH

Phone

6072743118

Tax Period

2024-07-01 to 2025-06-30

ITHACA COLLEGE, founded in 1892, is a major nonprofit in the Education sector that reported $332.7M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Net assets of $739.0M represent 27 months of operating reserves.

Mission

OUR MISSION IS TO EDUCATE, ENGAGE, AND EMPOWER THROUGH THEORY, PRACTICE, AND PERFORMANCE.

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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 $15,062,869

Program Service Revenue $301,760,244

Investment Income $14,335,912

Other Revenue $1,495,588

TOTAL REVENUE $332,654,613

Expense Breakdown

Grants Paid $126,798,357

Salaries & Benefits $135,804,233

Fundraising Expenses $3,367,405

Program Expenses $304,880,846

Other Expenses $82,103,985

TOTAL EXPENSES $344,860,620

Year-over-Year Comparison

	2024	2023	Change
Revenue	$332,654,613	$369,578,460	-0.1%
Expenses	$344,860,620	$332,498,680	+0.0%
Net Income	$-12,206,007	$37,079,780	-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

3899

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

$2,937,482

Total Directors

$975,347

Key Employees

$1,450,260

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LA JERNE TERRY CORNISH	PRESIDENT	40.00	Officer Director	$605,968	$146,126	$752,094
MUREEN S DOHERTY	TRUSTEE, STUDENT (AS OF 07/24)	1.00	Director	$0	$0	$0
JOHN NEESON	CHAIR (AS OF 07/24)	1.00	Officer Director	$0	$0	$0
CHRISTOPHER D PALMIERI	VICE CHAIR (AS OF 07/24)	1.00	Officer Director	$0	$0	$0
KIMBERLY W ALLEN	TRUSTEE (AS OF 07/24)	1.00	Director	$0	$0	$0
ROSANNA AYBAR	TRUSTEE (THRU 06/30/2025)	1.00	Director	$0	$0	$0
LUVELLE BROWN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL J CONOVER	TRUSTEE	1.00	Director	$0	$0	$0
NANCY L DANIELS	TRUSTEE	1.00	Director	$0	$0	$0
JACK H DEMBOW	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL J DEVITO	TRUSTEE	1.00	Director	$0	$0	$0
JERRY S DIETZ	TRUSTEE (AS OF 07/24)	1.00	Director	$0	$0	$0
KENNETH FISHER	TRUSTEE (THRU 06/30/2025)	1.00	Director	$0	$0	$0
DAVID FLEISHER II	TRUSTEE	1.00	Director	$0	$0	$0
KIRK HARBINGER	TRUSTEE (THRU 06/30/2025)	1.00	Director	$0	$0	$0
TRACI HUGHES	TRUSTEE	1.00	Director	$0	$0	$0
DAVID T MEBERG	TRUSTEE	1.00	Director	$0	$0	$0
KRISTIN R MUENZEN	TRUSTEE	1.00	Director	$0	$0	$0
CARLOS W PERKINS	TRUSTEE	1.00	Director	$0	$0	$0
PAULA M ROONEY	TRUSTEE (THRU 09/24)	1.00	Director	$0	$0	$0
JEFFREY J SELINGO	TRUSTEE	1.00	Director	$0	$0	$0
PETER R TAFFAE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES E TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS M WEISMAN	TRUSTEE (THRU 06/30/2025)	1.00	Director	$0	$0	$0
MONICA L BERTINO WOODEN	TRUSTEE	1.00	Director	$0	$0	$0
SARA J HAEFELI	TRUSTEE, FACULTY (AS OF 07/24)	1.00	Director	$76,865	$29,945	$106,810
SCOTT S DOYLE	TRUSTEE, STAFF (AS OF 07/24)	1.00	Director	$105,413	$11,030	$116,443
TIMOTHY C DOWNS	VP FINANCE & ADMINISTRATION, CFO	40.00	Officer	$305,827	$50,545	$356,372
MELANIE STEIN	PROVOST & SENIOR VP ACADEMIC AFFAIRS	40.00	Officer	$313,894	$25,165	$339,059
RAKIN 'ROCK' HALL	VP ENROLLMENT MGMT & STUDENT SUCCESS	40.00	Officer	$217,832	$39,310	$257,142
STANLEY BAZILE AS OF 0624	VP STUDENT AFFAIRS & CAMPUS LIFE	40.00	Officer	$148,211	$25,772	$173,983
DAVID L WEIL - VP CHIEF	INFORMATION AND ANALYTICS OFFICER	40.00	Officer	$231,796	$34,189	$265,985
EMILY ROCKETT	VP GENERAL COUNSEL & BOARD SECRETARY	40.00	Officer	$237,846	$28,123	$265,969
LAINE NORTON	VP ADVANCEMENT	40.00	Officer	$231,272	$36,154	$267,426
MARK EYERLY	VP MARKETING & COMMUNICATIONS	40.00	Officer	$221,428	$38,024	$259,452
MICHAEL JOHNSON-CRAMER	DEAN, BUSINESS	40.00	Key Emp	$249,208	$47,276	$296,484
CHRISTINA S MOYLAN	DEAN, HS&HP	40.00	Key Emp	$208,983	$16,330	$225,313
STEVE TENEYCK AS OF 0325	DEAN, MUSIC THEATRE & DANCE	40.00	Key Emp	$166,307	$12,692	$178,999
AMY FALKNER	DEAN, COMMUNICATIONS	40.00	Key Emp	$230,611	$46,926	$277,537
CLAIRE GLEITMAN	DEAN, H&S	40.00	Key Emp	$210,282	$28,003	$238,285
KIRRA A MICHELER	ASSOCIATE VP, CHIEF HUMAN RESOURCES	40.00	Key Emp	$197,380	$36,262	$233,642
JAMES A YAGGIE	PROFESSOR, DIRECTOR HS&HP	40.00	Highest	$186,788	$75,926	$262,714
MARIE C BLOUIN	ASSOCIATE PROFESSOR & CHAIR	40.00	Highest	$183,587	$42,395	$225,982
STEVEN GINSBERG	ASSOCIATE PROFESSOR	40.00	Highest	$182,232	$22,393	$204,625
MARGARET B SHACKELL	ASSOCIATE PROFESSOR & DIRECTOR	40.00	Highest	$177,840	$12,999	$190,839
MARC R ISRAEL	AVP BUSINESS & FINANCE	40.00	Highest	$192,211	$24,948	$217,159
BONNIE PRUNTY THRU 0624	VP STUDENT AFFAIRS & CAMPUS LIFE	0.00		$138,022	$16,445	$154,467
NICOLE EVERSLEY BRADWELL	EXECUTIVE DIRECTOR, ADMISSION	40.00		$125,746	$20,029	$145,775
LINDA PETROSINO	DEAN, HS&HP (THRU 06/23)	0.00		$119,348	$19,652	$139,000
ANNE HOGAN THRU 0624	DEAN, MUSIC THEATRE AND DANCE	0.00		$379,746	$16,268	$396,014
ALKA BRAMHANDKAR	PROFESSOR	40.00		$144,811	$24,452	$169,263
JOHN I POWERS	PROFESSOR	40.00		$127,502	$40,586	$168,088
KEITH A KAISER	PROFESSOR	40.00		$135,470	$45,248	$180,718
DIANE M GAYESKI	PROFESSOR	40.00		$113,259	$19,036	$132,295

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	$332,654,613	$344,860,620	$897,011,757	$-12,206,007
2024	No data	No data	No data	No data
2023	$358,076,074	$321,970,603	$849,515,520	$36,105,471
2022	$353,413,943	$313,023,511	$835,496,702	$40,390,432
2021	$309,746,342	$312,551,035	$909,282,506	$-2,804,693
2020	$365,679,639	$370,493,665	$834,703,732	$-4,814,026
2018	$370,878,479	$365,317,228	$829,643,495	$5,561,251

ITHACA COLLEGE