COLLEGIAN 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

1940

Legal Domicile

Principal Officer

BRENT ADDLEMAN

Phone

8148652531

Tax Period

2024-06-01 to 2025-05-31

COLLEGIAN INC, founded in 1940, is a small nonprofit in the Education sector that reported $491K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $578K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PUBLISH A QUALITY COLLEGIATE NEWSPAPER FOR THE PENN STATE COMMUNITY AND TO PROVIDE A REWARDING EDUCATIONAL EXPERIENCE FOR THE STUDENT STAFF MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $350,252 Revenue: $414,488

THE COLLEGIAN EDUCATES STUDENTS ABOUT THE FIELDS OF JOURNALISM, BUSINESS, MANAGEMENT, AND PUBLISHING BY SUPERVISING THE PREPARATION, PRINTING, AND DISTRIBUTION OF THE DAILY COLLEGIAN, THE WEEKLY...

THE COLLEGIAN EDUCATES STUDENTS ABOUT THE FIELDS OF JOURNALISM, BUSINESS, MANAGEMENT, AND PUBLISHING BY SUPERVISING THE PREPARATION, PRINTING, AND DISTRIBUTION OF THE DAILY COLLEGIAN, THE WEEKLY COLLEGIAN, AND THE COLLEGIAN MAGAZINE, P.S, AND THE DAILY COLLEGIAN ONLINE. THE CORPORATION'S REVENUE IS PRIMARILY DERIVED FROM THE CIRCULATION OF AND ADVERTISEMENTS PLACED IN THE PUBLICATIONS NOTED ABOVE.

Program 2

Expenses: $132,616

THE COLLEGIAN OFFERS SCHOLARSHIPS TO ENCOURAGE STUDENTS TO PARTICIPATE ON THE STAFF OF THE STUDENT NEWSPAPER AND TO ASSIST STUDENTS IN PAYING FOR THEIR COLLEGE EDUCATION AT PENN STATE.

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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 $14,543

Program Service Revenue $414,488

Investment Income $60,541

Other Revenue $1,197

TOTAL REVENUE $490,769

Expense Breakdown

Grants Paid $132,616

Salaries & Benefits $309,314

Fundraising Expenses $0

Program Expenses $482,868

Other Expenses $136,050

TOTAL EXPENSES $577,980

Year-over-Year Comparison

	2024	2023	Change
Revenue	$490,769	$592,814	-0.2%
Expenses	$577,980	$580,455	0.0%
Net Income	$-87,211	$12,359	-8.1%

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

196

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

$98,537

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL ZIMMERMAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
MAGGIE ANDERSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ANTHONY PICARDI	TREASURER	1.00	Officer Director	$0	$0	$0
SARAH RAFACZ	DIRECTOR	1.00	Director	$0	$0	$0
WALTER MIDDLEBROOK	DIRECTOR	1.00	Director	$0	$0	$0
JORDAN SPAGNOLLI	DIRECTOR	1.00	Director	$0	$0	$0
FRANCESCA EBERT	DIRECTOR	1.00	Director	$0	$0	$0
JACK WILDER	DIRECTOR	1.00	Director	$0	$0	$0
ZACK O'BRIEN	DIRECTOR	1.00	Director	$0	$0	$0
AMY SCHAFER	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE DEMPSEY	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE LOWMAN	GEN MGR/SECRETARY UNTIL SEPT 2024	40.00	Officer	$79,787	$0	$79,787
BRENT ADDLEMAN	GENERAL MANAGER AS OF SEPT 2024	40.00	Officer	$18,750	$0	$18,750

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	$490,769	$577,980	$1,517,382	$-87,211
2024	$592,814	$580,455	$1,603,769	$12,359
2023	$894,071	$600,563	$1,614,574	$293,508
2022	$698,831	$639,060	$1,162,764	$59,771
2021	$813,447	$649,139	$1,104,608	$164,308
2020	$700,561	$700,416	$1,017,823	$145
2019	$790,452	$785,123	$969,173	$5,329