CHESTNUT HILL COLLEGE

EIN: 231352626 501(c)(3) Education

PHILADELPHIA, PA

Total Revenue
$53,723,823
Total Expenses
$54,229,744
Total Assets
$89,805,763
Net Assets
$54,459,745
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Organization Details

Formation Year
1924
Legal Domicile
PA
Principal Officer
BRIAN MCCLOSKEY
Phone
2152487163
Tax Period
2024-07-01 to 2025-06-30

CHESTNUT HILL COLLEGE, founded in 1924, is a mid-sized nonprofit in the Education sector that reported $53.7M in total revenue in fiscal year 2024.

Mission

CHESTNUT HILL COLLEGE IS A PRIVATE INSTITUTION OF HIGHER EDUCATION SPONSORED BY THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH. THE COLLEGE'S MISSION IS TO PROVIDE A HOLISTIC EDUCATION IN AN INCLUSIVE ACADEMIC COMMUNITY MARKED BY INTELLECTUAL EXCELLENCE, PERSONAL AND PROFESSIONAL GROWTH, SERVICE TO OTHERS, CONCERN FOR THE EARTH, AND A COMMITMENT TO REDUCING BARRIERS TO LEARNING.

Program Service Accomplishments

Program 1
Expenses: $30,311,665 Revenue: $39,476,346

EDUCATION AND STUDENT SERVICE:THE COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION GROUNDED IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES, CONSISTENT WITH ITS MISSION TO EXPAND ACCESS TO...

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EDUCATION AND STUDENT SERVICE:THE COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION GROUNDED IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES, CONSISTENT WITH ITS MISSION TO EXPAND ACCESS TO EDUCATION AND REDUCE BARRIERS TO LEARNING THROUGH INCLUSIVE, STUDENT CENTERED ACADEMIC PROGRAMS. DURING THE FISCAL YEAR, THE COLLEGE ACHIEVED A SIGNIFICANT ACADEMIC MILESTONE WITH THE LAUNCH OF NEW NURSING DEGREE PATHWAYS, INCLUDING A TRADITIONAL BACHELOR OF SCIENCE IN NURSING (BSN) PROGRAM AND AN ACCELERATED BACHELOR OF SCIENCE IN NURSING (ABSN). (CONT'D ON SCHEDULE O.)THE LAUNCH WAS SUPPORTED BY A COMBINATION OF INSTITUTIONAL AND PHILANTHROPIC INVESTMENT AND REQUIRED THE DEVELOPMENT OF SPECIALIZED INSTRUCTIONAL AND CLINICAL LEARNING SPACE THROUGH THE REMODELING OF THE SUGARLOAF FACILITY, THE RECRUITMENT AND STAFFING OF NURSING FACULTY AND PROGRAM PERSONNEL, AND INITIAL PROGRAM OPERATIONS AND OUTREACH EFFORTS. TOTAL INVESTMENT ASSOCIATED WITH THE NURSING PROGRAM DURING FISCAL YEAR 2025 INCLUDED APPROXIMATELY $1,964,105 IN CONSTRUCTION IN PROGRESS RELATED TO FACILITY DEVELOPMENT, $554,459 IN SALARIES, BENEFITS, AND OTHER PROGRAMMATIC OPERATING COSTS, $252,228 IN BUILDING OPERATIONS AND MAINTENANCE, AND APPROXIMATELY $80,000 IN MARKETING AND STUDENT RECRUITMENT EFFORTS, REFLECTING THE SIGNIFICANT START-UP INVESTMENT REQUIRED TO ESTABLISH THE PROGRAM. THE PROGRAM ENROLLED AN INITIAL COHORT OF SIX STUDENTS DURING ITS FIRST YEAR OF OPERATION, GENERATING APPROXIMATELY $63,000 IN PROGRAM REVENUE.THE MONTESSORI PROGRAM OFFERED AT CHESTNUT HILL COLLEGE PROVIDES SPECIALIZED COURSEWORK AND HANDS-ON TRAINING DESIGNED TO PREPARE STUDENTS FOR CAREERS IN EARLY CHILDHOOD AND ELEMENTARY EDUCATION SETTINGS THAT UTILIZE THE MONTESSORI METHOD OF INSTRUCTION. THE CURRICULUM EMPHASIZES CHILD-CENTERED LEARNING, EXPERIENTIAL EDUCATION, AND THE DEVELOPMENT OF COGNITIVE, SOCIAL, AND EMOTIONAL SKILLS THROUGH STRUCTURED, DEVELOPMENTALLY APPROPRIATE ENVIRONMENTS.THE COLLEGE ALSO ENHANCED ITS GRADUATE BUSINESS EDUCATION OFFERINGS THROUGH ITS MASTER OF BUSINESS ADMINISTRATION (MBA) IN STRATEGIC MANAGEMENT BY PROVIDING CONCENTRATION OPTIONS DESIGNED TO SUPPORT PROFESSIONAL DEVELOPMENT AND CAREER ADVANCEMENT. CONCENTRATIONS INCLUDE ACCOUNTANCY, HEALTHCARE, AND MINISTRY LEADERSHIP, EACH INTEGRATING SPECIALIZED COURSEWORK WITHIN THE BROADER MANAGEMENT CURRICULUM.THE ACCOUNTANCY CONCENTRATION SUPPORTS ACADEMIC PREPARATION ALIGNED WITH PROFESSIONAL CERTIFICATION PATHWAYS AND ADVANCEMENT IN ACCOUNTING-RELATED ROLES. THE HEALTHCARE CONCENTRATION EMPHASIZES MANAGEMENT AND LEADERSHIP WITHIN HEALTHCARE ORGANIZATIONS, SERVING PROFESSIONALS ACROSS CLINICAL AND ADMINISTRATIVE DISCIPLINES. THE MINISTRY LEADERSHIP CONCENTRATION IS DESIGNED FOR INDIVIDUALS SERVING IN RELIGIOUS AND FAITH-BASED NONPROFIT ORGANIZATIONS AND INCORPORATES PRINCIPLES OF LEADERSHIP, ADMINISTRATION, AND STEWARDSHIP IN MISSION-DRIVEN ENVIRONMENTS.THESE CONCENTRATION OFFERINGS SUPPORT THE COLLEGE'S COMMITMENT TO FLEXIBLE ACADEMIC PATHWAYS, WORKFORCE READINESS, AND ALIGNMENT WITH DIVERSE STUDENT CAREER GOALS.CHESTNUT HILL COLLEGE OFFERS A RANGE OF BACCALAUREATE, GRADUATE, AND PROFESSIONAL PROGRAMS GROUNDED IN THE LIBERAL ARTS AND CAREER-FOCUSED DISCIPLINES. ACADEMIC OFFERINGS INCLUDE UNDERGRADUATE MAJORS SUCH AS BUSINESS, PSYCHOLOGY, AND EXERCISE SCIENCE, AS WELL AS GRADUATE PROGRAMS AND A DOCTORAL PROGRAM IN CLINICAL PSYCHOLOGY. THE COLLEGE ALSO OFFERS ACCELERATED ADULT DEGREE PROGRAMS AND CERTIFICATE PROGRAMS DESIGNED TO PROVIDE FLEXIBLE PATHWAYS FOR DEGREE COMPLETION AND PROFESSIONAL ADVANCEMENT.THE NURSING PROGRAMS ENROLLED AN INAUGURAL COHORT OF STUDENTS DURING THE YEAR, MARKING THE COMMENCEMENT OF INSTRUCTION AND TUITION BASED PROGRAM ACTIVITY. THESE EFFORTS REPRESENT A FOUNDATIONAL PHASE IN THE DEVELOPMENT OF THE COLLEGE'S NURSING PROGRAMS AND ADVANCE THE INSTITUTION'S LONG TERM ACADEMIC STRATEGY TO PREPARE STUDENTS FOR SERVICE ORIENTED PROFESSIONS AND REGIONAL WORKFORCE NEEDS. INSTRUCTIONAL PROGRAMS DURING THE YEAR CONTINUED TO INTEGRATE CLASSROOM, EXPERIENTIAL, AND CLINICAL LEARNING DESIGNED TO SUPPORT STUDENT SUCCESS, PROFESSIONAL PREPARATION, AND LIFELONG LEARNING.THE COLLEGE CONTINUES TO EVALUATE AND REFINE ITS ACADEMIC PROGRAM OFFERINGS TO ALIGN WITH STUDENT DEMAND, REGIONAL WORKFORCE NEEDS, AND INSTITUTIONAL STRATEGIC PRIORITIES.CHESTNUT HILL COLLEGE MAINTAINS A MONTESSORI EDUCATION PROGRAM AS PART OF ITS UNDERGRADUATE AND GRADUATE OFFERINGS. THE PROGRAM REMAINS AFFILIATED WITH THE AMERICAN MONTESSORI SOCIETY (AMS) AND ACCREDITED BY THE MONTESSORI ACCREDITATION COUNCIL FOR TEACHER EDUCATION (MACTE). THROUGH THIS PROGRAM, STUDENTS ENGAGE IN BOTH ACADEMIC STUDY AND SUPERVISED FIELD EXPERIENCES, SUPPORTING THE INTEGRATION OF THEORY AND PRACTICE AND PREPARING GRADUATES FOR PROFESSIONAL ROLES IN EDUCATIONAL ENVIRONMENTS THAT SERVE DIVERSE STUDENT POPULATIONS. THE PROGRAM CONTRIBUTES TO THE COLLEGE'S BROADER MISSION BY EXPANDING ACCESS TO INNOVATIVE TEACHING METHODOLOGIES, SUPPORTING WORKFORCE PREPARATION IN THE EDUCATION SECTOR, AND PROMOTING INCLUSIVE AND DEVELOPMENTALLY RESPONSIVE APPROACHES TO LEARNING.THE COLLEGE REMAINS COMMITTED TO IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ITS ACADEMIC PROGRAMS AND SERVICES THROUGH ONGOING ASSESSMENT AND PROGRAM REVIEW. PRIOR ACADEMIC RESTRUCTURING EFFORTS HAVE RESULTED IN INCREASED COLLABORATION AMONG FACULTY AND MORE EFFICIENT ADMINISTRATIVE OPERATIONS, AND THE COLLEGE CONTINUES TO MONITOR PROGRAM PERFORMANCE AND STUDENT OUTCOMES TO SUPPORT CONTINUOUS IMPROVEMENT.INSTRUCTIONAL DELIVERY CONTINUES TO INCLUDE IN-PERSON, HYBRID, AND ONLINE LEARNING MODALITIES SUPPORTED BY THE COLLEGE'S LEARNING MANAGEMENT SYSTEM. TECHNOLOGY PLATFORMS ARE USED TO SUPPORT BOTH ACADEMIC INSTRUCTION AND ENROLLMENT MANAGEMENT PROCESSES.ACADEMIC AND STUDENT SUPPORT:CHESTNUT HILL COLLEGE CONTINUES ITS LONGSTANDING COMMITMENT TO PROVIDING A TRANSFORMATIVE AND HOLISTIC EDUCATIONAL EXPERIENCE SUPPORTED BY A RANGE OF STUDENT SUCCESS INITIATIVES. ACADEMIC AND STUDENT SUPPORT PROGRAMS ARE DESIGNED TO ASSIST STUDENTS IN SELECTING ACADEMIC PATHWAYS, ACCESSING EDUCATIONAL RESOURCES, AND OVERCOMING BARRIERS TO PERSISTENCE AND COMPLETION.THE ACADEMIC DISCOVERY PROGRAM (ADP) CONTINUES TO SUPPORT STUDENTS WHO ENTER THE COLLEGE WITHOUT A DECLARED MAJOR BY PROVIDING STRUCTURED ADVISING, ACADEMIC COURSEWORK, AND CAREER EXPLORATION TO FACILITATE TIMELY DEGREE COMPLETION.THE COLLEGE MAINTAINS A LENDING LIBRARY TO PROVIDE TEXTBOOKS AND TECHNOLOGY TO STUDENTS WITH DEMONSTRATED NEED AND CONTINUES TO OFFER ACCESS TO LOANER LAPTOPS. IN ADDITION, THE COLLEGE OPERATES AN ON-CAMPUS FOOD PANTRY TO SUPPORT STUDENTS EXPERIENCING FOOD INSECURITY, PROVIDING ACCESS TO NON-PERISHABLE AND REFRIGERATED ITEMS TO STUDENTS.AUXILIARY SERVICES:AUXILIARY SERVICES INCLUDE A RANGE OF INTERNAL AND EXTERNAL OPERATIONS, INCLUDING RESIDENCE LIFE, FOOD SERVICES, AND FACILITIES RENTALS, WHICH SUPPORT CAMPUS OPERATIONS AND PROVIDE SERVICES TO THE COLLEGE COMMUNITY.

Program 2
Expenses: $16,869,805

FINANCIAL AID.THE COLLEGE PROVIDED INSTITUTIONALLY FUNDED SCHOLARSHIPS, GRANTS, AND OTHER FORMS OF FINANCIAL ASSISTANCE TO SUPPORT STUDENT ACCESS, AFFORDABILITY, AND PERSISTENCE. DURING FISCAL YEAR...

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FINANCIAL AID.THE COLLEGE PROVIDED INSTITUTIONALLY FUNDED SCHOLARSHIPS, GRANTS, AND OTHER FORMS OF FINANCIAL ASSISTANCE TO SUPPORT STUDENT ACCESS, AFFORDABILITY, AND PERSISTENCE. DURING FISCAL YEAR 2024-2025, THE COLLEGE AWARDED SIGNIFICANT INSTITUTIONAL AID TO UNDERGRADUATE STUDENTS, WITH APPROXIMATELY NINETY-NINE PERCENT OF FULL TIME UNDERGRADUATES RECEIVING SOME FORM OF INSTITUTIONAL FINANCIAL ASSISTANCE. FINANCIAL AID WAS APPLIED TOWARD TUITION, FEES, HOUSING, AND EDUCATIONAL EXPENSES AND WAS AWARDED BASED ON DEMONSTRATED FINANCIAL NEED AND ACADEMIC ELIGIBILITY. (CONT'D ON SCHEDULE O.)THE COLLEGE'S FINANCIAL AID PROGRAMS ARE DESIGNED TO REDUCE ECONOMIC BARRIERS TO LEARNING AND PROMOTE EQUITY AND INCLUSION BY ENABLING STUDENTS FROM DIVERSE SOCIOECONOMIC BACKGROUNDS TO ENROLL IN AND COMPLETE THEIR ACADEMIC PROGRAMS. AID RECIPIENTS ARE REQUIRED TO MEET CONTINUING STANDARDS OF ACADEMIC PROGRESS. THE COLLEGE REGULARLY REVIEWS ITS FINANCIAL AID PRACTICES TO ENSURE ALIGNMENT WITH ITS MISSION AND STUDENT NEEDS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,013,201
Program Service Revenue $39,476,346
Investment Income $3,985,905
Other Revenue $1,248,371
TOTAL REVENUE $53,723,823

Expense Breakdown

Grants Paid $16,881,805
Salaries & Benefits $16,587,332
Fundraising Expenses $1,165,992
Program Expenses $47,181,470
Other Expenses $20,760,607
TOTAL EXPENSES $54,229,744

Year-over-Year Comparison

2024 2023 Change
Revenue $53,723,823 $51,197,650 +0.0%
Expenses $54,229,744 $52,111,900 +0.0%
Net Income $-505,921 $-914,250 -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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Governance

Voting Members
25
Independent Members
24
Employees
695
Volunteers
30

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
5
$886,310
Total Directors
29
$886,310
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM W LATIMER PHD PRESIDENT, THROUGH DEC 2024 50.00
Officer Director
$620,225 $6,569 $626,794
BRIAN MCCLOSKEY PRESIDENT/CFO/VP FIN. 50.00
Officer Director
$243,042 $16,474 $259,516
CAROL STEINOUR YOUNG ESQ BOARD CHAIR 0.50
Officer Director
$0 $0 $0
EILEEN MARNIEN SSJ BOARD VICE CHAIR 0.50
Officer Director
$0 $0 $0
JILL KIMBERLY BANKS BOARD MEMBER 0.50
Director
$0 $0 $0
SALLYANN M BOWMAN MD BOARD MEMBER 0.50
Director
$0 $0 $0
RICHARD J COHEN PHD FACHE BOARD MEMBER 0.50
Director
$0 $0 $0
KENDRA ENNIS DAVENPORTMPLCFRE BOARD MEMBER 0.50
Director
$0 $0 $0
DEVIN DEVOUE BOARD MEMBER 0.50
Director
$0 $0 $0
KAREN DIETRICH SSJ BOARD MEMBER 0.50
Director
$0 $0 $0
HERMAN C FALA JD BOARD MEMBER 0.50
Director
$0 $0 $0
DEBORAH FLINT BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID GUNN BOARD MEMBER 0.50
Director
$0 $0 $0
RYAN KILLEEN EDD BOARD MEMBER 0.50
Director
$0 $0 $0
MICHELLE LESHER SSJ BOARD MEMBER 0.50
Director
$0 $0 $0
BARBARA MARTINO DIRECTOR EMERITA 0.50
Director
$0 $0 $0
MARGARET MCCAFFERY BOARD MEMBER 0.50
Director
$0 $0 $0
MARY MCFADDEN SSJ CFRE BOARD MEMBER 0.50
Director
$0 $0 $0
CATHERINE LOCKYER MOULTON BOARD MEMBER 0.50
Director
$0 $0 $0
FRANCES R PIERCE BOARD MEMBER 0.50
Director
$0 $0 $0
THOMAS QUEENAN BOARD MEMBER 0.50
Director
$0 $0 $0
BETH DAVEY ROSSO BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN SABIA JR BOARD MEMBER 0.50
Director
$0 $0 $0
LYNN MULVANEY SHARP BOARD MEMBER 0.50
Director
$0 $0 $0
KENNETH WONG BOARD MEMBER 0.50
Director
$0 $0 $0
RONALD ZEMNICK BOARD MEMBER 0.50
Director
$0 $0 $0
MARY DACEY SSJ BOARD MEMBER - LEFT JAN 2025 0.50
Director
$0 $0 $0
MARY ANN KEENAN MD BOARD MEMBER - LEFT AUG 2024 0.50
Director
$0 $0 $0
RASHIDA M WEATHERS BOARD MEMBER - LEFT DEC 2024 0.50
Director
$0 $0 $0
MARJORIE SCOTT BOARD SEC. (NON-VOTING) 0.50
Officer
$0 $0 $0
KRISTA MURPHY VP STRATEGIC INNOVATIONS 50.00
Highest
$180,252 $18,610 $198,862
ANDRA BASU VP ACADEMIC AFFAIRS/DEAN OF FACULTY 50.00
Highest
$179,054 $0 $179,054
RYAN BURTON-ROMERO VP OF ENROLLMENT 50.00
Highest
$170,724 $26,196 $196,920
CHERYLL ROTHERY PROFESSOR 50.00
Highest
$133,933 $11,075 $145,008
CHRISTOPHER N SPANGLER CHIEF COMM. OFFIC 50.00
Highest
$121,892 $9,541 $131,433
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 $53,723,823 $54,229,744 $89,805,763 $-505,921
2024 No data No data No data No data
2023 $64,229,295 $53,678,730 $90,639,308 $10,550,565
2022 $63,665,389 $55,714,330 $76,444,726 $7,951,059
2021 $52,837,937 $49,197,680 $72,389,717 $3,640,257
2020 $54,912,865 $54,922,271 $66,492,677 $-9,406
2019 $52,190,053 $52,003,230 $64,542,797 $186,823
2018 $54,033,420 $53,352,021 $65,840,224 $681,399
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