PENNSYLVANIA COLLEGE OF OPTOMETRY … - Form 990 Financial Data

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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

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

THE EXEMPT PURPOSE OF THE PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION (FOUNDATION) IS TO SUPPORT SALUS UNIVERSITY, A 501(C)(3) PUBLIC CHARITY, THROUGH FUNDRAISING ENDEAVORS AND THE HOLDING OF INVESTMENTS.

Program Service Accomplishments

Program 1

Expenses: $3,130,311 Revenue: $0

SUPPORT THE ONGOING EDUCATIONAL OPERATIONS OF SALUS UNIVERSITY. IN THIS REGARD, THE FOUNDATION'S SOLE PROGRAM IS TO RAISE FUNDS TO PROVIDE STUDENT SCHOLARSHIPS, RESEARCH, INDIGENT PATIENT CARE, AND INSTITUTIONAL SUPPORT. PROVIDED SUPPORT TO SALUS UNIVERSITY FOR $254,868 IN ENDOWED SCHOLARSHIPS AND OVER $1.8 MILLION IN INSTITUTIONAL SUPPORT.

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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 (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

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

$756,943

Total Directors

$493,075

Key Employees

Highest Compensated

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

PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION