CARLOW UNIVERSITY (EIN 250965438) - 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

1929

Legal Domicile

Principal Officer

DR KATHY HUMPHREY

Phone

4125786000

Tax Period

2023-07-01 to 2024-06-30

CARLOW UNIVERSITY, founded in 1929, is a mid-sized nonprofit in the Education sector that reported $76.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

TRANSFORMATIONAL HIGHER EDUCATIONAL OPPORTUNITIES FOR A DIVERSE COMMUNITY.

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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 $9,216,193

Program Service Revenue $64,545,401

Investment Income $2,319,968

Other Revenue $64,053

TOTAL REVENUE $76,145,615

Expense Breakdown

Grants Paid $17,049,257

Salaries & Benefits $35,178,765

Fundraising Expenses $1,385,675

Program Expenses $69,361,346

Other Expenses $29,524,287

TOTAL EXPENSES $81,752,309

Year-over-Year Comparison

	2023	2022	Change
Revenue	$76,145,615	$84,318,254	-0.1%
Expenses	$81,752,309	$78,038,341	+0.0%
Net Income	$-5,606,694	$6,279,913	-1.9%

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

1118

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

$1,357,878

Total Directors

$593,436

Key Employees

$218,795

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY W HUMPHREY PHD	PRESIDENT	50.00	Officer Director	$518,069	$75,367	$593,436
JESSICA PRISELAC TRUSTEE	(THRU 6/24), SECRETARY (AS OF 6/24)	2.00	Officer Director	$0	$0	$0
MARCIA MARTIN	SECRETARY (EXIT 6/24)	2.00	Officer Director	$0	$0	$0
JAMES H MCTIERNAN	TREASURER	2.00	Officer Director	$0	$0	$0
SISTER JULIA UPTON RSM PHD MPH	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SISTER HELEN MARIE BURNS RSM	VICE CHAIR, MISSION	2.00	Officer Director	$0	$0	$0
BRYAN DILUCENTE	CHAIR	2.00	Officer Director	$0	$0	$0
MARGARET MEIS ARMEN JD	TRUSTEE (EXIT 6/24)	2.00	Director	$0	$0	$0
DEBRA CAPLAN	TRUSTEE (ENTER 2/24)	2.00	Director	$0	$0	$0
ANITA COURCOULAS	TRUSTEE	2.00	Director	$0	$0	$0
JOHN DENNY	TRUSTEE	2.00	Director	$0	$0	$0
PATRICIA G DONOHOE	TRUSTEE	2.00	Director	$0	$0	$0
AMIE DOWNS	TRUSTEE	2.00	Director	$0	$0	$0
SISTER MARY M FANNING RSM PHD	TRUSTEE	2.00	Director	$0	$0	$0
BART GABLER JD MBA	TRUSTEE	2.00	Director	$0	$0	$0
MARTIN LAMAR	TRUSTEE (EXIT 6/24)	2.00	Director	$0	$0	$0
STEVEN MASSARO	TRUSTEE	2.00	Director	$0	$0	$0
CAITLIN MCLAUGHLIN	TRUSTEE	2.00	Director	$0	$0	$0
MARIBETH MCLAUGHLIN	TRUSTEE	2.00	Director	$0	$0	$0
NORM MITRY	TRUSTEE	2.00	Director	$0	$0	$0
JO ELLEN PARKER	TRUSTEE (ENTER 2/24)	2.00	Director	$0	$0	$0
ALEX RODRIGUEZ	TRUSTEE	2.00	Director	$0	$0	$0
DEBORAH L RICE-JOHNSON	TRUSTEE (EXIT 6/24)	2.00	Director	$0	$0	$0
LOURDES SANCHEZ RIDGE ESQ	TRUSTEE	2.00	Director	$0	$0	$0
MORTON STANFIELD JR	TRUSTEE (EXIT 6/24)	2.00	Director	$0	$0	$0
ANNA BAMONTE TORRANCE ESQ	TRUSTEE	2.00	Director	$0	$0	$0
CAROLINA VELEZ JD	TRUSTEE	2.00	Director	$0	$0	$0
LARA WASHINGTON	TRUSTEE	2.00	Director	$0	$0	$0
SISTER SUSAN J WELSH RSM	TRUSTEE	2.00	Director	$0	$0	$0
SISTER LINDA WERTHMAN RSM PHD	TRUSTEE	2.00	Director	$0	$0	$0
REPRESENTATIVE JAKE WHEATLEYJR	TRUSTEE (EXIT 6/24)	2.00	Director	$0	$0	$0
LATASHA WILSON-BATCH	TRUSTEE	2.00	Director	$0	$0	$0
RHONDA MANEVAL DEAN COLLEGE	OF NURSING, INTERIM PROVOST (6/24)	50.00	Officer	$219,613	$12,394	$232,007
SIBDAS GHOSH VPPROVOST	(THRU 9/23), ADJUNCT (AS OF 10/23)	40.00	Officer	$180,039	$16,764	$196,803
MATTHEW GORDLEY DEAN COLLEGE	OF ARTS, INTERIM PROVOST (6/24)	50.00	Officer	$154,410	$38,891	$193,301
JOHN LEA VP OF	FINANCE & BUS. DEV./UNIV. TREAS.	50.00	Officer	$131,712	$773	$132,485
ERRIKA FEARBRY JONES AS OF	11/23) CHIEF OF STAFF/UNIVERSITY SEC.	50.00	Officer	$9,846	$0	$9,846
CARALYNN KASSABOV	VP FOR ADVANCEMENT	40.00	Key Emp	$177,197	$41,598	$218,795
JAMES SANTUCCI	OPERATIONS SERGEANT	40.00	Highest	$193,871	$33,754	$227,625
THOMAS FOUSE	ADMINISTRATIVE SERGEANT	40.00	Highest	$176,536	$29,999	$206,535
MARY CERCERE	VP FOR ENROLLMENT MGMT	40.00	Highest	$148,357	$54,532	$202,889
TIMOTHY PHILLIPS	VP OF STUDENT AFFAIRS	40.00	Highest	$143,361	$35,006	$178,367
JOHN CARDONE	VP OF MARKETING & COMMUNICATION	40.00	Highest	$136,682	$723	$137,405
DAVID MEADOWS	FORMER OFFICER	0.00		$132,439	$27,831	$160,270

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	$76,145,615	$81,752,309	$121,909,309	$-5,606,694
2023	$84,318,254	$78,038,341	$126,780,809	$6,279,913
2022	$75,353,671	$69,957,559	$105,056,716	$5,396,112
2021	$61,205,389	$63,181,144	$109,959,970	$-1,975,755
2020	$62,596,783	$62,901,752	$105,247,078	$-304,969
2019	$60,486,364	$59,850,188	$107,730,337	$636,176
2018	$59,766,776	$58,950,846	$100,824,689	$815,930

CARLOW UNIVERSITY