Bridgewater State University Foundation (EIN 222678005) - 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

1984

Legal Domicile

Principal Officer

DOUG SHROPSHIRE

Phone

5085312691

Tax Period

2024-07-01 to 2025-06-30

Bridgewater State University Foundation, founded in 1984, is a community nonprofit in the Education sector that reported $5.9M in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $5.6M left a modest 4% surplus.

Mission

TO ASSIST BRIDGEWATER STATE UNIVERSITY IN ACHIEVING ITS GOAL OF EXCELLENCE IN ITS MAJOR FUNCTIONS OF TEACHING, LEARNING, AND RESEARCH IN THOSE EDUCATIONAL AREAS WHERE LITTLE OR NO STATE FUNDING IS AVAILABLE TO THE INSTITUTION.

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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 $5,771,690

Program Service Revenue $0

Investment Income $89,690

Other Revenue $0

TOTAL REVENUE $5,861,380

Expense Breakdown

Grants Paid $4,488,045

Salaries & Benefits $0

Fundraising Expenses $193,396

Program Expenses $4,488,045

Other Expenses $1,153,431

TOTAL EXPENSES $5,641,476

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,861,380	$10,332,528	-0.4%
Expenses	$5,641,476	$6,314,041	-0.1%
Net Income	$219,904	$4,018,487	-0.9%

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

N/A

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

$270,900

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ellen Cuttle Oliver	Exec. Dir. of Fdn, AVP & CDO	10.0	Officer	$0	$82,041	$270,900
Elizabeth Dubuque	Exec. Director, Alumni and Dev	10.0	Highest	$0	$57,291	$189,176
Margaret Campbell	Dir, Major Gifts & PlanneD GVG	10.0	Highest	$0	$52,247	$172,520
Scott Enos	Dir. of Alumni & Development	10.0	Highest	$0	$47,844	$157,982
David P Rumrill	BOARD CHAIRPERSON	0.5	Officer Director	$0	$0	$0
Phyllis A Klock	1ST VICE CHAIRPERSON	0.5	Officer Director	$0	$0	$0
Thomas L Magee	2ND VICE CHAIRPERSON	0.5	Officer Director	$0	$0	$0
Sharon A Mutrie	SECRETARY	0.5	Officer Director	$0	$0	$0
Daniel W Smith	Treasurer	0.5	Officer Director	$0	$0	$0
Joseph P St Laurent	Immediate Past Chair	0.5	Officer Director	$0	$0	$0
Paul A Bonitto	Director	0.5	Director	$0	$0	$0
Jeremy S David	Director	0.5	Director	$0	$0	$0
Steven R Goodyear	Director	0.5	Director	$0	$0	$0
George K Gurley	Director	0.5	Director	$0	$0	$0
Aenis S Harris	Director	0.5	Director	$0	$0	$0
Lori D Hindle	Director	0.5	Director	$0	$0	$0
Wayne G Lombardi	Director	0.5	Director	$0	$0	$0
Michelle I O'Connor	Director	0.5	Director	$0	$0	$0
Louis M Ricciardi	Director	0.5	Director	$0	$0	$0
Jack C Badavas	Student Director	0.5	Director	$0	$0	$0
Michael Taylor	director - BSU BOT Chair	0.5	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	$5,861,380	$5,641,476	$80,256,119	$219,904
2024	$10,332,528	$6,314,041	$70,342,148	$4,018,487
2023	$6,345,488	$5,365,276	$61,352,566	$980,212
2022	$8,431,786	$4,098,012	$55,255,899	$4,333,774
2021	$3,495,548	$2,928,325	$58,369,881	$567,223
2020	$2,500,474	$3,076,931	$51,223,236	$-576,457
2019	$3,866,908	$2,167,337	$50,190,648	$1,699,571

Bridgewater State University Foundation