EXCELSIOR UNIVERSITY (EIN 161532850) - 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

1998

Legal Domicile

Principal Officer

David Schejbal

Phone

5184648500

Tax Period

2023-07-01 to 2024-06-30

EXCELSIOR UNIVERSITY, founded in 1998, is a mid-sized nonprofit in the Education sector that reported $83.0M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $77.0M left a modest 7% surplus.

Mission

Excelsior University provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The University meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning.

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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 $758,980

Program Service Revenue $80,174,163

Investment Income $1,711,389

Other Revenue $338,693

TOTAL REVENUE $82,983,225

Expense Breakdown

Grants Paid $2,024,138

Salaries & Benefits $47,902,772

Fundraising Expenses $690,389

Program Expenses $43,820,521

Other Expenses $26,942,206

TOTAL EXPENSES $76,981,366

Year-over-Year Comparison

	2023	2022	Change
Revenue	$82,983,225	$74,436,577	+0.1%
Expenses	$76,981,366	$70,026,821	+0.1%
Net Income	$6,001,859	$4,409,756	+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

954

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

$2,331,035

Total Directors

Key Employees

$897,869

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Schejbal	President & Chief Executive Officer	37.50	Officer	$583,902	$31,811	$615,713
Christopher Cassirer	Provost	37.50	Officer	$348,697	$38,341	$387,038
Francisco Azuola	CIO	37.50	Key Emp	$287,310	$41,983	$329,293
Mark Howe	VP of Human Resources	37.50	Officer	$279,244	$19,652	$298,896
Lorraine Williams	Chief of Staff	37.50	Officer	$288,249	$8,636	$296,885
Richard Hannmann	Vice President for Finance and CFO	37.50	Officer	$257,769	$18,149	$275,918
Raul Nestor Galarza	Vice President of enrollment management and marketing	37.50	Officer	$231,595	$17,619	$249,214
Stephanie Poczos	Vice Provost, Academic Operations & Quality	37.50	Highest	$223,382	$14,538	$237,920
Scott Dolan	Executive Dean, CLAS	37.50	Key Emp	$203,322	$20,672	$223,994
Daniel Pascoe Aguilar	Founding Director CSJ/CDO	37.50	Highest	$183,942	$36,471	$220,413
Michael DiSiena	General Counsel	37.50	Officer	$186,172	$21,199	$207,371
Jamie Furgang	AVP - Dev&Alumni Affairs	37.50	Highest	$160,051	$19,828	$179,879
Karen Halaco	Sr Dir HR Prog&Comp Support	37.50	Highest	$152,155	$26,761	$178,916
Robin Goodrich	Executive Dean, CNHS starting 8/2023	37.50	Key Emp	$162,536	$10,214	$172,750
Christine Thorpe	Executive Dean, CNHS Until 8/2023	37.50	Key Emp	$162,190	$9,642	$171,832
Tracy Caldwell	Assoc Dean- Liberal Arts	37.50	Highest	$135,196	$14,347	$149,543
David Baime	Board Member until 12/31/2024	1.2	Director	$0	$0	$0
Jennifer Gentry	Board Member until 12/31/2025	1.2	Director	$0	$0	$0
Karen Kocher	Board Member until 12/31/2025	1.2	Director	$0	$0	$0
KH Maman	Board Member until 12/31/2024	1.2	Director	$0	$0	$0
Karim Merchant	Board Member until 12/31/2023	1.2	Director	$0	$0	$0
Alec Whitters	Board Member until 7/8/2023	1.2	Director	$0	$0	$0
Dan Greenstein	Board Member until 12/31/2025	1.2	Director	$0	$0	$0
Kent Clark	Treasurer until 12/31/2025	1.4	Director	$0	$0	$0
Charlene Dukes	Vice Chair until 12/31/2024	1.4	Director	$0	$0	$0
Matthew Loeb	Chair until 12/31/2025	1.4	Director	$0	$0	$0
Jeanne Meister	Secretary of the Board until 12/31/2024	1.4	Director	$0	$0	$0
Rose Wang	Board member until 12/31/2025	1.2	Director	$0	$0	$0
David Wilson	Board Member until 12/31/2025	1.2	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	No data	No data	No data	No data
2024	$82,983,225	$76,981,366	$74,733,671	$6,001,859
2023	$74,436,577	$70,026,821	$69,059,242	$4,409,756
2022	$71,809,518	$75,215,077	$65,195,981	$-3,405,559
2021	$78,298,930	$76,656,661	$78,995,635	$1,642,269
2020	$75,887,251	$73,272,346	$73,174,799	$2,614,905
2019	$79,948,998	$74,833,487	$69,203,012	$5,115,511
2018	$86,749,302	$86,749,477	$64,942,553	$-175

EXCELSIOR UNIVERSITY