SHERMAN COLLEGE OF STRAIGHT CHIROPRACTIC (EIN 237242844) - 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

1973

Legal Domicile

Principal Officer

JACK BOURLA

Phone

8645788770

Tax Period

2025-01-01 to 2025-12-31

SHERMAN COLLEGE OF STRAIGHT CHIROPRACTIC, founded in 1973, is a mid-sized nonprofit in the Education sector that reported $16.7M in total revenue in fiscal year 2025. Revenue decreased 10% compared to the prior year. Expenses of $18.9M exceeded revenue, resulting in a 13% operating deficit.

Mission

OUR MISSION AT SHERMAN COLLEGE OF CHIROPRACTIC IS TO PROVIDE EXCEPTIONAL PREPARATION FOR THE LOCATION, ANALYSIS AND ADJUSTMENT OF VERTEBRAL SUBLUXATION.

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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 (2025)

Revenue Breakdown

Contributions & Grants $471,096

Program Service Revenue $14,749,221

Investment Income $1,447,677

Other Revenue $69,680

TOTAL REVENUE $16,737,674

Expense Breakdown

Grants Paid $325,130

Salaries & Benefits $12,422,692

Fundraising Expenses $741,113

Program Expenses $14,485,288

Other Expenses $6,190,340

TOTAL EXPENSES $18,938,162

Year-over-Year Comparison

	2025	2024	Change
Revenue	$16,737,674	$18,551,579	-0.1%
Expenses	$18,938,162	$17,998,898	+0.1%
Net Income	$-2,200,488	$552,681	-5.0%

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

249

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

$1,702,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA LANZARA-BAZZANI DC	CHAIR	2.00	Officer Director	$0	$0	$0
RICHELLE KNOWLES DC	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
STEVE TULLIUS DC	SECRETARY	2.00	Officer Director	$0	$0	$0
SELENA BLAIR EDD	TRUSTEE (FROM 10/25)	2.00	Director	$0	$0	$0
JOSEPH CHAMPAGNE JD	TRUSTEE	2.00	Director	$0	$0	$0
ERIC FRANCO BA	TRUSTEE	2.00	Director	$0	$0	$0
SCOTT GARBER DC	TRUSTEE (FROM 05/25)	2.00	Director	$0	$0	$0
FRANK J HAHN DC	TRUSTEE	2.00	Director	$0	$0	$0
MATTHEW MCCOY DC MPH	TRUSTEE	2.00	Director	$0	$0	$0
JOSE SALGADO LEON DC	TRUSTEE	2.00	Director	$0	$0	$0
LIAM SCHUBEL DC	TRUSTEE (FROM 05/25)	2.00	Director	$0	$0	$0
LINDA GIULIANO MBA	TRUSTEE (TO 02/25)	2.00	Director	$0	$0	$0
SHAWN H DILL DC	TRUSTEE (TO 05/25)	2.00	Director	$0	$0	$0
CHARLES HODGE JD	TRUSTEE (TO 12/25)	2.00	Director	$0	$0	$0
JACK BOURLA DC	PRESIDENT/CEO	37.50	Officer	$348,848	$66,110	$414,958
KAREN CANUP PHD MBA CPA	EXECUTIVE VICE PRESIDENT	37.50	Officer	$326,000	$42,819	$368,819
JOE DONOFRIO DC	VP ACADEMIC AFFAIRS	37.50	Officer	$202,332	$40,035	$242,367
LASHANDA HUTTO-HARRIS MSW	VP STUDENT AFFAIRS	37.50	Officer	$130,461	$34,022	$164,483
DAVID BEDFORD MBA	VP FINANCE & CAMPUS OPERATIONS	37.50	Officer	$130,593	$20,435	$151,028
GABE HOLLINGSWORTH MHRD	VP STRAT. ENROLL. MGMT. (FROM 03/25)	37.50	Officer	$96,209	$15,320	$111,529
BRUCE ROSENGRANT MA	VP ADVANCEMENT (FROM 04/25)	37.50	Officer	$106,318	$14,362	$120,680
CHRISTOPHER KENT DC JD	VP PRESIDENT INITIATIVES (FROM 11/25)	37.50	Officer	$111,720	$16,916	$128,636
SAMANTHA ATTAWAY DC	CHAIR OF ANATOMY DEPARTMENT	37.50	Highest	$136,982	$4,870	$141,852
CLAUDIA SEAY DC	DIRECTOR OF STUDENT CLINIC	37.50	Highest	$136,448	$23,590	$160,038
SARAH HOCK DC	CHAIR OF PEDIATRICS & PERINATAL CARE	37.50	Highest	$130,547	$32,150	$162,697
PENGJU LUO DC	DEAN OF BASIC SCIENCE	37.50	Highest	$129,307	$23,221	$152,528
ALAN BREWSTER DC	DIRECTOR OF THE CSA	37.50	Highest	$137,004	$29,695	$166,699

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	$16,737,674	$18,938,162	$42,494,702	$-2,200,488
2024	$18,551,579	$17,998,898	$43,307,741	$552,681
2023	$16,124,563	$16,589,178	$42,745,052	$-464,615
2022	$16,504,966	$16,249,029	$41,427,074	$255,937
2021	$16,948,617	$15,291,842	$45,133,899	$1,656,775
2020	$17,583,972	$14,736,944	$42,621,194	$2,847,028
2019	$16,102,307	$15,723,158	$39,718,335	$379,149
2018	$15,533,600	$13,225,446	$36,403,547	$2,308,154

SHERMAN COLLEGE OF STRAIGHT CHIROPRACTIC