PAUL SMITHS COLLEGE OF ARTS & SCIE… - 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

1946

Legal Domicile

Principal Officer

CHRISTINE PLUNKETT

Phone

5183276291

Tax Period

2023-07-01 to 2024-06-30

PAUL SMITHS COLLEGE OF ARTS & SCIENCES, founded in 1946, is a mid-sized nonprofit in the Education sector that reported $34.4M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $41.9M exceeded revenue, resulting in a 22% operating deficit.

Mission

HIGHER EDUCATION: "THE REAL VALUE OF A PSC EDUCATION IS IN THE EMPHASIS ON NOT JUST LEARNING SOMETHING, BUT IN ACTUALLY DOING IT." THE PAUL SMITH'S COLLEGE COMMUNITY PROVIDES A DYNAMIC EDUCATIONAL ENVIRONMENT WHICH ENCOURAGES STUDENTS TO BE ACTIVELY ENGAGED IN THEIR OWN LEARNING EXPERIENCE BY FOSTERING CREATIVE, ETHICAL AND INTELLECTUAL GROWTH.

Program Service Accomplishments

Program 1

Expenses: $31,283,491 Revenue: $18,408,383

POSTSECONDARY EDUCATION, GENERAL/OTHER: INSTRUCTION - TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN IN THE ARTS AND SCIENCES, WITH AUTHORITY TO CONFER THE DEGREES OF ASSOCIATES IN ARTS (AA)...

POSTSECONDARY EDUCATION, GENERAL/OTHER: INSTRUCTION - TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN IN THE ARTS AND SCIENCES, WITH AUTHORITY TO CONFER THE DEGREES OF ASSOCIATES IN ARTS (AA), ASSOCIATES IN APPLIED SCIENCE (AAS) AND BACHELOR OF SCIENCE (BS) IN CONFORMITY WITH THE REGENTS OF NYS AND THE COMMISSIONER OF EDUCATION. APPROXIMATELY 600 STUDENTS.

Program 2

Expenses: $8,476,659 Revenue: $8,476,659

POSTSECONDARY EDUCATION, GENERAL/OTHER: AUXILLIARY ENTERPRISES - THE OPERATION AND MAINTENANCE OF THE RESIDENCE HALLS, CAFETERIA AND CAMPUS STORE THAT SERVE THE 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 (2023)

Revenue Breakdown

Contributions & Grants $5,887,364

Program Service Revenue $26,885,042

Investment Income $250,722

Other Revenue $1,410,045

TOTAL REVENUE $34,433,173

Expense Breakdown

Grants Paid $12,171,804

Salaries & Benefits $12,430,590

Fundraising Expenses $506,384

Program Expenses $39,760,150

Other Expenses $17,277,333

TOTAL EXPENSES $41,879,727

Year-over-Year Comparison

	2023	2022	Change
Revenue	$34,433,173	$39,523,245	-0.1%
Expenses	$41,879,727	$41,638,488	+0.0%
Net Income	$-7,446,554	$-2,115,243	+2.5%

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

617

Volunteers

125

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

$489,621

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK DZWONCZYK	CHAIRMAN	5.00	Officer Director	$0	$0	$0
KATHARINE H WELLING	CO-VICE CHAI	5.00	Officer Director	$0	$0	$0
KAREN REGEN-BAUM	SECRETARY	5.00	Officer Director	$0	$0	$0
WILLIARD LIPE	TREASURER	5.00	Officer Director	$0	$0	$0
LISA BARON	TRUSTEE	5.00	Director	$0	$0	$0
FRED BELTZ	TRUSTEE	5.00	Director	$0	$0	$0
DAVID BLYE	TRUSTEE	5.00	Director	$0	$0	$0
JAMES CANTWELL	TRUSTEE	5.00	Director	$0	$0	$0
PAUL CIMINELLI	TRUSTEE	5.00	Director	$0	$0	$0
JAMES DAWSON	TRUSTEE	5.00	Director	$0	$0	$0
PAULINE JENNETT	TRUSTEE	5.00	Director	$0	$0	$0
DAN PALLADINO	TRUSTEE	5.00	Director	$0	$0	$0
MATTHEW PURCELL	ALUMNI BOARD	5.00	Director	$0	$0	$0
KENNEITH RAYMOND	TRUSTEE	5.00	Director	$0	$0	$0
ELIZABETH THORNDIKE PHD	TRUSTEE	5.00	Director	$0	$0	$0
ROBERT MACKENZIE	TRUSTEE	5.00	Director	$0	$0	$0
ROBERT KAFIN	TRUSTEE	5.00	Director	$0	$0	$0
DR DANIEL KELTING	PRESIDENT/CE	40.00	Officer	$201,798	$24,916	$226,714
NICHOLAS HUNT-BULL	PROVOST	40.00	Officer	$94,281	$4,378	$98,659
NICOLE FEML	CHIEF OF STA	40.00	Officer	$77,159	$3,375	$80,534
CHRISTINE BRENNAN	ED OF STUDEN	40.00	Officer	$66,673	$10,016	$76,689
KATHY BONAVIST	VP ENROLLMEN	40.00	Officer	$6,690	$335	$7,025
ZOE SMITH	ED OF AWI	40.00	Highest	$105,566	$20,105	$125,671
JEFFREY WALTON	DIRECTOR INS	40.00	Highest	$112,791	$14,536	$127,327
CHRISTINE PLUNKETT	CFO	40.00	Officer	$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	No data	No data	No data	No data
2024	$34,433,173	$41,879,727	$75,467,048	$-7,446,554
2023	$39,523,245	$41,638,488	$79,764,344	$-2,115,243
2022	$40,777,249	$43,313,784	$76,964,209	$-2,536,535
2021	$35,545,491	$37,754,919	$83,057,888	$-2,209,428
2020	$36,773,014	$37,368,013	$77,974,804	$-594,999
2019	$35,507,797	$38,708,779	$78,279,798	$-3,200,982
2018	$36,052,240	$37,299,427	$80,673,529	$-1,247,187

PAUL SMITHS COLLEGE OF ARTS & SCIENCES