THE PATHWAY CORPORATION

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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

1961

Legal Domicile

Principal Officer

DAVID J SCHULTHEIS

Phone

6102770660

Tax Period

2024-07-01 to 2025-06-30

THE PATHWAY CORPORATION, founded in 1961, is a community nonprofit in the Education sector that reported $1.5M in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $1.4M left a modest 10% surplus.

Mission

TO PROVIDE FACILITIES, EQUIPMENT AND PROFESSIONAL SERVICES TO A RELATED TAX EXEMPT ORGANIZATION (THE PATHWAY SCHOOL 23-2586474) IN FURTHERANCE OF THEIR EXEMPT PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $1,039,703 Revenue: $1,267,444

THE PATHWAY CORPORATION PROVIDED SPEECH THERAPY, OCCUPATIONAL THERAPY AND PSYCHOLOGICAL SERVICES TO THE PATHWAY SCHOOL (A RELATED TAX EXEMPT ORGANIZATION) IN FURTHERANCE OF THEIR EXEMPT PURPOSE.

Program 2

Expenses: $149,320 Revenue: $0

THE PATHWAY CORPORATION PROVIDED FACILITIES AND EQUIPMENT TO THE PATHWAY SCHOOL (A RELATED EXEMPT ORGANIZATION) IN FURTHERANCE OF THEIR EXEMPT PURPOSE. THE FACILITIES PROVIDED EQUIPMENT AND...

THE PATHWAY CORPORATION PROVIDED FACILITIES AND EQUIPMENT TO THE PATHWAY SCHOOL (A RELATED EXEMPT ORGANIZATION) IN FURTHERANCE OF THEIR EXEMPT PURPOSE. THE FACILITIES PROVIDED EQUIPMENT AND ADMINISTRATIVE SPACES FOR 180 SPECIAL NEEDS STUDENTS AND 166 EMPLOYEES DURING THE YEAR.

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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 $18,761

Program Service Revenue $1,267,444

Investment Income $230,975

Other Revenue $0

TOTAL REVENUE $1,517,180

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,039,703

Fundraising Expenses $0

Program Expenses $1,189,023

Other Expenses $322,730

TOTAL EXPENSES $1,362,433

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,517,180	$1,868,341	-0.2%
Expenses	$1,362,433	$1,709,512	-0.2%
Net Income	$154,747	$158,829	0.0%

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

$430,928

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD MARCUS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PATTI ROWLAND	VICE CHAIRMAN (TERMED 9/24)	1.00	Officer Director	$0	$0	$0
THOMAS F FUREY JR	TREASURER	1.00	Officer Director	$0	$0	$0
LOUISE ROBERTSON	SECRETARY	1.00	Officer Director	$0	$0	$0
WILLIAM S HARRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
COLIN HARTNETT	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA FARNSWORTH	DIRECTOR	1.00	Director	$0	$0	$0
DAVID J SCHULTHEIS	PRESIDENT AND CEO	1.00	Officer	$0	$9,142	$258,286
LORETTA BOBB	ASSISTANT TREASURER	1.00	Officer	$0	$25,173	$172,642

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	$1,517,180	$1,362,433	$14,214,520	$154,747
2024	$1,868,341	$1,709,512	$14,930,750	$158,829
2023	$2,775,704	$1,594,677	$15,230,811	$1,181,027
2022	$2,561,422	$1,563,665	$11,979,547	$997,757
2021	$1,974,532	$1,599,956	$12,948,463	$374,576
2020	$2,023,821	$1,685,418	$11,959,109	$338,403
2019	$1,453,314	$1,289,668	$10,487,552	$163,646