IVY TECH FOUNDATION INC

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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

1969

Legal Domicile

Principal Officer

COURTNEY ROBERTS

Phone

3179214749

Tax Period

2023-07-01 to 2024-06-30

IVY TECH FOUNDATION INC, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $23.0M in total revenue in fiscal year 2023. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $27.2M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO RECEIVE, HOLD, INVEST AND ADMINISTER PROPERTY; AND TO SOLICIT AND RECEIVE CONTRIBUTIONS; AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF IVY TECH COMMUNITY COLLEGE.

Program Service Accomplishments

Program 1

Expenses: $5,037,944

SOLICITING, RECEIVING, ADMINISTERING AND DISTRIBUTING DONATIONS FOR FINANCIAL AID FOR STUDENTS ATTENDING IVY TECH COMMUNITY COLLEGE

Program 2

Expenses: $2,525,774

COLLEGE, FACILITIES AND EQUIPMENT, AND REAL ESTATE MANAGEMENT

Program 3

Expenses: $11,906,852

PROVIDING SUPPORT FOR SPECIAL, INNOVATIVE PROGRAMS OF IVY TECH COMMUNITY COLLEGE.

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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 $17,886,059

Program Service Revenue $0

Investment Income $4,817,344

Other Revenue $328,807

TOTAL REVENUE $23,032,210

Expense Breakdown

Grants Paid $5,037,944

Salaries & Benefits $0

Fundraising Expenses $391,806

Program Expenses $23,875,845

Other Expenses $22,035,659

TOTAL EXPENSES $27,184,523

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,032,210	$41,134,022	-0.4%
Expenses	$27,184,523	$24,943,462	+0.1%
Net Income	$-4,152,313	$16,190,560	-1.3%

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

400

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

$1,839,419

Total Directors

$621,082

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUE ELLSPERMANN	PRESIDENT, COLLEGE	2.00	Officer Director	$0	$116,191	$621,082
LAUREN SALERNO	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
VINCENT VIVEROS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
BRIAN STATER	TREASURER	2.00	Officer Director	$0	$0	$0
SCOTT MILLER	SECRETARY	2.00	Officer Director	$0	$0	$0
A H SCHUMAKER II	BOARD MEMBER	2.00	Director	$0	$0	$0
ALISA HECIMOVICH	BOARD MEMBER	2.00	Director	$0	$0	$0
ALPA PATEL	BOARD MEMBER	2.00	Director	$0	$0	$0
BRIAN STATZ	BOARD MEMBER	2.00	Director	$0	$0	$0
CATHERINE HOFFMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
CELESTE CALVITTO	BOARD MEMBER	2.00	Director	$0	$0	$0
CINDY KINNARNEY	BOARD MEMBER	2.00	Director	$0	$0	$0
CONNIE FERGUSON	BOARD MEMBER	2.00	Director	$0	$0	$0
CONSTANCE BROWN	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID GOODMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNA PFEIL	BOARD MEMBER	2.00	Director	$0	$0	$0
GLEN MUEHLBAUER	BOARD MEMBER	2.00	Director	$0	$0	$0
HEATHER SCHOEGLER	BOARD MEMBER	2.00	Director	$0	$0	$0
J MICHAEL JARVIS	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMES GOTHARD	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMES ORBIK	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER HINDMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
JESSE BRAND	BOARD MEMBER	2.00	Director	$0	$0	$0
JODI ENGELSTAD	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSH PETERS	BOARD MEMBER	2.00	Director	$0	$0	$0
KEITH O'NEAL	BOARD MEMBER	2.00	Director	$0	$0	$0
KEVIN AHAUS	BOARD MEMBER	2.00	Director	$0	$0	$0
KIM EMMERT-O'DELL	BOARD MEMBER	2.00	Director	$0	$0	$0
LARRY SMITH	BOARD MEMBER	2.00	Director	$0	$0	$0
LEO BRADDOCK	BOARD MEMBER	2.00	Director	$0	$0	$0
LORI DANIELSON	BOARD MEMBER	2.00	Director	$0	$0	$0
LU PORTER	BOARD MEMBER	2.00	Director	$0	$0	$0
MAMON POWERS III	BOARD MEMBER	2.00	Director	$0	$0	$0
MARCUS HESTER	BOARD MEMBER	2.00	Director	$0	$0	$0
MELISSA PROFFITT	BOARD MEMBER	2.00	Director	$0	$0	$0
MIKE HARMLESS	BOARD MEMBER	2.00	Director	$0	$0	$0
NANCY RHODES	BOARD MEMBER	2.00	Director	$0	$0	$0
PAUL PERKINS	BOARD MEMBER	2.00	Director	$0	$0	$0
PAULA HEIDERMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
PAULA HUGHES-SCHUH	BOARD MEMBER	2.00	Director	$0	$0	$0
PHIL BANE	BOARD MEMBER	2.00	Director	$0	$0	$0
REBECCA KUBACKI	BOARD MEMBER	2.00	Director	$0	$0	$0
RONALD FAUQUHER	BOARD MEMBER	2.00	Director	$0	$0	$0
SALLY DEVOE	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT KLEPPE	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT WALLSMITH	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVEN SCHRECKENGAST	BOARD MEMBER	2.00	Director	$0	$0	$0
TERRY ANKER	BOARD MEMBER	2.00	Director	$0	$0	$0
THOMAS MARCUCCILLI	BOARD MEMBER	2.00	Director	$0	$0	$0
WILLIAM GUTZWILLER	BOARD MEMBER	2.00	Director	$0	$0	$0
BECKY MILLER	VICE PRESIDENT	38.00	Officer	$0	$35,708	$237,064
THOMAS SKIDMORE	ASSISTANT TREASURER	38.00	Officer	$0	$47,565	$271,130
ANNETTE FLICKINGER	ASSISTANT SECRETARY	38.00	Officer	$0	$34,123	$159,036
BRIAN THOMAS	AVP - GRANT DEVELOPMENT	38.00	Officer	$0	$31,976	$146,734
COURTNEY ROBERTS	PRESIDENT, FOUNDATION	38.00	Officer	$0	$29,073	$404,373

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	$23,032,210	$27,184,523	$149,886,491	$-4,152,313
2023	$41,134,022	$24,943,462	$147,776,928	$16,190,560
2022	$38,600,222	$26,743,266	$133,213,854	$11,856,956
2021	$30,082,278	$19,214,225	$133,152,328	$10,868,053
2020	$22,108,760	$19,816,401	$120,027,175	$2,292,359
2019	$25,204,785	$19,612,845	$121,531,893	$5,591,940