COLLEGE OF CHARLESTON FOUNDATION (EIN 237069236) - 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

1970

Legal Domicile

Phone

8439533130

Tax Period

2023-07-01 to 2024-06-30

COLLEGE OF CHARLESTON FOUNDATION, founded in 1970, is a mid-sized nonprofit in the Education sector that reported $21.2M in total revenue in fiscal year 2023. Revenue surged 61% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.2M, a strong 29% operating margin.

Mission

TO PROMOTE EDUCATION, RESEARCH, AND DEVELOPMENT PROGRAMS FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE OF CHARLESTON.

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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 (2023)

Revenue Breakdown

Contributions & Grants $20,026,181

Program Service Revenue $0

Investment Income $129,327

Other Revenue $1,072,654

TOTAL REVENUE $21,228,162

Expense Breakdown

Grants Paid $6,083,673

Salaries & Benefits $3,667,346

Fundraising Expenses $1,517,823

Program Expenses $12,771,700

Other Expenses $5,289,253

TOTAL EXPENSES $15,040,272

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,228,162	$13,203,026	+0.6%
Expenses	$15,040,272	$14,605,720	+0.0%
Net Income	$6,187,890	$-1,402,694	-5.4%

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

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

$384,319

Total Directors

Key Employees

$878,999

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mr Johnnie Baxley III	Secretary	1.0	Officer Director	$0	$0	$0
Mr R Keith Sauls	Vice Chair	1.0	Officer Director	$0	$0	$0
Mr Stephen Kerrigan	Chair	1.0	Officer Director	$0	$0	$0
Ms Patricia Ory	Treasurer	1.0	Officer Director	$0	$0	$0
Bartina L Edwards Esq	Director	1.0	Director	$0	$0	$0
Dr Charles Mosteller	Director	1.0	Director	$0	$0	$0
Dr Mark Buono	Director	1.0	Director	$0	$0	$0
Dr Neil Draisin	Director	1.0	Director	$0	$0	$0
Mr Brady Quirk-Garvan	Director	1.0	Director	$0	$0	$0
Mr Craig Eney	Director	1.0	Director	$0	$0	$0
Mr Eric Cox	Director	1.0	Director	$0	$0	$0
Mr H Chapman McKay	Director	1.0	Director	$0	$0	$0
Mr John Carter Jr	Director	1.0	Director	$0	$0	$0
Mr Justin McLain	Director	1.0	Director	$0	$0	$0
Mr Nicholas Glover	Director	1.0	Director	$0	$0	$0
Mr Richard Salmons Jr	Director	1.0	Director	$0	$0	$0
Mr Stephen Ryan Morris	Director	1.0	Director	$0	$0	$0
Mr Steve Osborne	Director	1.0	Director	$0	$0	$0
Mr Tanner Crunelle	Director	1.0	Director	$0	$0	$0
Mr Todd Abedon	Director	1.0	Director	$0	$0	$0
Mr William Penney Jr	Director	1.0	Director	$0	$0	$0
Mrs Beth Meredith	Director	1.0	Director	$0	$0	$0
Mrs Jean Johnson	Director	1.0	Director	$0	$0	$0
Mrs Katherine Williams	Director	1.0	Director	$0	$0	$0
Mrs Leslie Gambee	Director	1.0	Director	$0	$0	$0
Ms Jamilla Richelle Harper	Director	1.0	Director	$0	$0	$0
Ms Laura Ricciardelli	Director	1.0	Director	$0	$0	$0
Ms Michelle Y Mangum	Director	1.0	Director	$0	$0	$0
Ms Sabra Horne	Director	1.0	Director	$0	$0	$0
Ms Sherrie Snipes-Williams	Director	1.0	Director	$0	$0	$0
Dan Frezza	EVP-CofC Advancement, Foundation CEO	12.0	Officer	$58,600	$0	$257,888
J R Barnhart	Foundation CFO/COO	32.0	Officer	$0	$0	$126,431
Mr Andrew Hsu	President, CofC	0.0	Key Emp	$274,686	$0	$516,812
Ms Suzanne Austin	Provost, CofC	0.0	Key Emp	$100,000	$0	$362,187
Jimmie Foster	VP of Admissions	0.0	Highest	$0	$0	$146,053
Patrick Kelsey	Basketball Coach	0.0	Highest	$375,000	$0	$1,146,920
Paul Schwager	Business School Dean	0.0	Highest	$30,000	$0	$305,838

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	No data	No data	No data	No data
2024	$21,228,162	$15,040,272	$204,281,779	$6,187,890
2023	$13,203,026	$14,605,720	$176,644,406	$-1,402,694
2022	$11,402,265	$12,285,836	$165,475,152	$-883,571
2021	$10,125,233	$12,558,575	$175,127,185	$-2,433,342
2020	$11,900,961	$11,950,205	$143,872,892	$-49,244
2019	$12,573,223	$10,706,827	$138,344,731	$1,866,396

COLLEGE OF CHARLESTON FOUNDATION