PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION

EIN: 233030893 501(c)(3)

ELKINS PARK, PA

Total Revenue
$2,321,570
Total Expenses
$3,638,005
Total Assets
$58,584,358
Net Assets
$55,020,940
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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
1999
Legal Domicile
PA
Principal Officer
DR MICHAEL H MITTELMAN
Phone
2157801400
Tax Period
2022-07-01 to 2023-06-30

PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION, founded in 1999, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2022. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $3.6M exceeded revenue, resulting in a 57% operating deficit.

Mission

TO SUPPORT THE MISSION OF ITS PARENT ORGANIZATION, SALUS UNIVERSITY

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,104,442
Program Service Revenue $0
Investment Income $1,247,576
Other Revenue $-30,448
TOTAL REVENUE $2,321,570

Expense Breakdown

Grants Paid $2,989,475
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,130,311
Other Expenses $648,530
TOTAL EXPENSES $3,638,005

Year-over-Year Comparison

2022 2021 Change
Revenue $2,321,570 $10,072,068 -0.8%
Expenses $3,638,005 $3,099,846 +0.2%
Net Income $-1,316,435 $6,972,222 -1.2%
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

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Governance

Voting Members
9
Independent Members
8
Employees
N/A
Volunteers
9

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
7
$756,943
Total Directors
9
$493,075
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR MICHAEL H MITTELMAN PRESIDENT 1.00
Officer Director
$0 $47,231 $493,075
MR DONALD C KATES VP FINANCE 1.00
Officer
$0 $40,101 $263,868
MS REBECCA DELIA CHAIR 1.00
Officer Director
$0 $0 $0
DR DANIEL ABRAMOWICZ VICE CHAIR 1.00
Officer Director
$0 $0 $0
DR CRAIG CASSEY SECRETARY 1.00
Officer Director
$0 $0 $0
MS EMILY TURNER TREASURER 1.00
Officer Director
$0 $0 $0
MS CAROLYN FORCINA DIRECTOR 1.00
Officer Director
$0 $0 $0
MR KEITH D IGNOTZ DIRECTOR 1.00
Director
$0 $0 $0
MS JOYCE KOH DIRECTOR 1.00
Director
$0 $0 $0
MS DANA MATTINGLY DIRECTOR 1.00
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
2024 No data No data No data No data
2023 $2,321,570 $3,638,005 $58,584,358 $-1,316,435
2022 $10,072,068 $3,099,846 $55,532,338 $6,972,222
2021 $3,712,054 $2,932,212 $63,978,471 $779,842
2020 $4,162,465 $2,988,216 $51,823,419 $1,174,249
2019 $6,210,340 $2,663,612 $51,482,268 $3,546,728
2018 $3,771,416 $1,628,494 $49,648,267 $2,142,922
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