Raritan Valley Community College

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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

1966

Legal Domicile

Principal Officer

John Trojan

Phone

9085261200

Tax Period

2023-07-01 to 2024-06-30

Raritan Valley Community College, founded in 1966, is a mid-sized nonprofit in the Education sector that reported $82.0M in total revenue in fiscal year 2023. Expenses of $78.8M left a modest 4% surplus.

Mission

Raritan Valley Community College is an educational community that works to develop critical thinking, foster intellectual curiosity, promote leadership, encourage social responsibility and support personal growth.

Program Service Accomplishments

Program 1

Expenses: $64,888,957 Revenue: $33,361,338

Community college of approximately 6,857 credit-seeking students and nearly 1,000 non-credit 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 $46,512,171

Program Service Revenue $34,760,797

Investment Income $527,885

Other Revenue $195,092

TOTAL REVENUE $81,995,945

Expense Breakdown

Grants Paid $13,207,046

Salaries & Benefits $46,552,971

Fundraising Expenses $0

Program Expenses $64,888,957

Other Expenses $19,058,447

TOTAL EXPENSES $78,818,464

Year-over-Year Comparison

	2023	2022	Change
Revenue	$81,995,945	$83,807,368	0.0%
Expenses	$78,818,464	$72,611,690	+0.1%
Net Income	$3,177,481	$11,195,678	-0.7%

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

1109

Volunteers

200

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

$745,773

Total Directors

Key Employees

$682,688

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Zenon Christodoulou	Chairperson	2.00	Officer Director	$0	$0	$0
Roger Locandro	Vice Chairperson	2.00	Officer Director	$0	$0	$0
Helena Swanicke	Vice Chairperson	2.00	Officer Director	$0	$0	$0
Thomas P Borkowski	Treasurer	2.00	Officer Director	$0	$0	$0
Margaret Wolan Sullivan	Secretary	2.00	Officer Director	$0	$0	$0
Caren Bateman	Trustee	2.00	Director	$0	$0	$0
Jinnee DeMarco	Trustee	2.00	Director	$0	$0	$0
Michael Goldberg	Trustee	2.00	Director	$0	$0	$0
Roger Jinks	Trustee	2.00	Director	$0	$0	$0
Nidhi Makhija	Trustee	2.00	Director	$0	$0	$0
Howard Opdyke	Trustee	2.00	Director	$0	$0	$0
Adam Shain	Trustee	2.00	Director	$0	$0	$0
Juan Torres	Trustee	2.00	Director	$0	$0	$0
James Von Schilling	Trustee	2.00	Director	$0	$0	$0
Nicholas Gallo	Trustee	2.00	Director	$0	$0	$0
Dr John McGuire	Emeritus	2.00	Director	$0	$0	$0
Dr Paul Hirsch	Emeritus	2.00	Director	$0	$0	$0
Michael J McDonough PhD	President	37.50	Officer	$381,432	$94,008	$475,440
John Trojan	V.P. Finance and Facilities	37.50	Officer	$233,959	$36,374	$270,333
Jacki Belin	V.P. Student Affairs & Outreach	37.50	Key Emp	$209,763	$43,181	$252,944
Patrice Marks	Dean of LFA & BPS, ALO	37.50	Highest	$180,555	$30,258	$210,813
Michael Marion	Executive Dir RVCC Foundation	37.50	Highest	$193,722	$15,182	$208,904
Brian Thomas	Professor Ophthalmics	35.00	Highest	$171,807	$23,324	$195,131
Cheryl Wallace	V.P. of HR & Administration	37.50	Highest	$181,168	$13,678	$194,846
Karen Bearce PHD	Provost/V.P Academic Affaris	37.50	Key Emp	$188,869	$50,981	$239,850
Brian O'Rourke	Executive Dir. Facilities Grounds	37.50	Key Emp	$176,032	$13,862	$189,894

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	$81,995,945	$78,818,464	$112,602,068	$3,177,481
2023	$83,807,368	$72,611,690	$112,053,232	$11,195,678
2022	$75,934,725	$76,503,300	$101,078,699	$-568,575
2021	$84,313,623	$77,699,970	$103,363,745	$6,613,653
2020	$77,502,232	$74,819,289	$98,409,329	$2,682,943
2019	$78,548,613	$76,220,145	$97,149,700	$2,328,468
2018	$75,505,182	$78,097,190	$96,765,707	$-2,592,008