THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION (EIN 237034523) - 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

1968

Legal Domicile

Principal Officer

NICOLE BLEMBERG

Phone

9062272627

Tax Period

2024-07-01 to 2025-06-30

THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION, founded in 1968, is a mid-sized nonprofit in the Education sector that reported $12.6M in total revenue in fiscal year 2024. Revenue surged 107% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.6M, a strong 60% operating margin.

Mission

THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,059,959

Program Service Revenue $0

Investment Income $2,327,363

Other Revenue $-763,642

TOTAL REVENUE $12,623,680

Expense Breakdown

Grants Paid $3,749,214

Salaries & Benefits $0

Fundraising Expenses $247,041

Program Expenses $3,749,214

Other Expenses $1,268,220

TOTAL EXPENSES $5,017,434

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,623,680	$6,096,168	+1.1%
Expenses	$5,017,434	$5,430,993	-0.1%
Net Income	$7,606,246	$665,175	+10.4%

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

$338,752

Total Directors

$338,752

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD M CANALE	CHIEF EXECUTIVE OFFICER - PART YEAR	40.00	Officer Director	$0	$93,456	$338,752
NICOLE A BLEMBERG	INTERIM CEO - 6/25, TRUSTEE	40.00	Officer Director	$0	$0	$0
MARK B PYNNONEN	PRESIDENT	1.90	Officer Director	$0	$0	$0
MICHAEL R OSWALD	VICE PRESIDENT	1.90	Officer Director	$0	$0	$0
GERARD J MOLITOR	SECRETARY/TREASURER	1.90	Officer Director	$0	$0	$0
JESSE W BELL	TRUSTEE	0.60	Director	$0	$0	$0
CAIN G BESSE	TRUSTEE	0.60	Director	$0	$0	$0
WILLIAM W BOWERMAN	TRUSTEE	0.60	Director	$0	$0	$0
KEVIN C BOYLE	TRUSTEE	0.60	Director	$0	$0	$0
WILLIAM W EDWARDS	TRUSTEE	0.60	Director	$0	$0	$0
JOSEPH A EVANS	TRUSTEE	0.60	Director	$0	$0	$0
TIMOTHY P GREELEY	TRUSTEE	0.60	Director	$0	$0	$0
STEPHEN P LATUS	TRUSTEE	0.60	Director	$0	$0	$0
JOHN F LIST	TRUSTEE	0.60	Director	$0	$0	$0
MARK R LOVELL	TRUSTEE	0.60	Director	$0	$0	$0
RUSSELL M MAGNAGHI	TRUSTEE	0.60	Director	$0	$0	$0
LISA M MUELLER	TRUSTEE	0.60	Director	$0	$0	$0
DAVID R NERENZ	TRUSTEE	0.60	Director	$0	$0	$0
LISA A TOMSHECK	TRUSTEE	0.60	Director	$0	$0	$0
CURT L TUCKER	TRUSTEE	0.60	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	$12,623,680	$5,017,434	$85,717,144	$7,606,246
2024	$6,096,168	$5,430,993	$77,295,763	$665,175
2023	$18,008,930	$4,810,789	$70,883,331	$13,198,141
2022	$7,666,417	$4,251,458	$51,572,158	$3,414,959
2021	$6,659,103	$3,718,668	$57,190,761	$2,940,435
2020	$6,783,322	$4,202,771	$44,603,546	$2,580,551
2019	$6,783,437	$4,163,204	$42,861,241	$2,620,233

THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION