ASSOCIATION OF INDEPENDENT COLLEGE… - Form 990 Financial Data

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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

1991

Legal Domicile

Principal Officer

THOMAS P FOLEY

Phone

7172328649

Tax Period

2024-07-01 to 2025-06-30

ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA, founded in 1991, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2024.

Mission

THE PURPOSE OF THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA (AICUP) IS TO SERVE AND PROMOTE INDEPENDENT COLLEGES AND UNIVERSITIES AS VITAL, DISTINCTIVE COMPONENTS OF THE HIGHER EDUCATION COMMUNITY IN PENNSYLVANIA AND THE NATION, TO PRESERVE AND PROMOTE THE STRENGTHS AND DISTINCTIVE CHARACTERISTICS OF NON-PROIT HIGHER EDUCATION INSTITUTIONS AND TO INCREASE THE FINANCIAL MEANS AVAILABLE TO THESE INSTITUTIONS, TO FURTHER THE AVAILABILITY OF EDUCATION OPPORTUNITY FOR RESIDENTS OF PENNSYLVANIA AND OTHERS WHO SEEK EDUCATION OR TRAINING AT INDEPENDENT COLLEGES AND UNIVERSITIES IN PENNSYLVANIA, TO ENHANCE THE BUSINESS AND EDUCATIONAL PARTNERSHIP IN PA AND INCREASE THE EFFECTIVENESS OF DONATIONS IN ADVANCING HIGHER EDUCATION, TO ENCOURAGE AND SOLICIT CORPORATE, BUSINESS, AND OTHER GIVING TO THE INDEPENDENT COLLEGES AND UNIVERSITIES IN PENNSYLVANIA, TO FURTHER BY STUDY, RESEARCH, PUBLICATION, AND TEACHING AN UNDERSTANDING OF THE ROLE AND NEEDS OF HIGHER EDUCATION, TO

Program Service Accomplishments

Program 1

Expenses: $295,100

DISTRIBUTED VOLUNTARY CONTRIBUTIONS RECEIVED FROM MEMBER COLLEGES, THE GENERAL PUBLIC, FOUNDATIONS AND CORPORATIONS FOR VARIOUS PROGRAMS OF THE ASSOCIATION.

Program 2

Expenses: $665,044

THE ASSOCIATION SERVED AS A UNIFIED VOICE FOR INDEPENDENT HIGHER EDUCATION IN PENNSYLVANIA BEFORE STATE AND FEDERAL ELECTED OFFICIALS AND GOVERNMENT AGENCIES. ISSUES ADDRESSED BY THE ASSOCIATION...

THE ASSOCIATION SERVED AS A UNIFIED VOICE FOR INDEPENDENT HIGHER EDUCATION IN PENNSYLVANIA BEFORE STATE AND FEDERAL ELECTED OFFICIALS AND GOVERNMENT AGENCIES. ISSUES ADDRESSED BY THE ASSOCIATION INCLUDED INPUT INTO PUBLIC POLICIES WITH REGARD TO STUDENT FINANCIAL AID PROGRAMS, FUNDING FOR INSTITUTIONAL NEEDS, PRESERVATION OF STATE AND LOCAL TAX EXEMPTIONS FOR COLLEGES AND UNIVERSITIES AND SEVERAL OTHER ISSUES WHICH IMPACT INDEPENDENT HIGHER EDUCATION.

Program 3

Expenses: $391,271 Revenue: $1,493,157

THE ASSOCIATION SERVES ITS MEMBERS IN MANY WAYS. IT DISSEMINATED INFORMATION AND PROVIDED VARIOUS SERVICES BOTH TO ITS MEMBERS AND TO THE PUBLIC. THE ASSOCIATION ALSO SPONSORED VARIOUS PROGRAMS...

THE ASSOCIATION SERVES ITS MEMBERS IN MANY WAYS. IT DISSEMINATED INFORMATION AND PROVIDED VARIOUS SERVICES BOTH TO ITS MEMBERS AND TO THE PUBLIC. THE ASSOCIATION ALSO SPONSORED VARIOUS PROGRAMS THROUGH ROYALTY AGREEMENTS WITH INDEPENDENT VENDORS TO HELP COLLEGES AND UNIVERSITIES REALIZE SAVINGS THROUGH ECONOMIES OF SCALE. SUCH PROGRAMS INCLUDE A TELECOMMUNICATIONS PROGRAM, BOND FACILITIES PROGRAM, EMPLOYMENT BENEFITS PROGRAM, ENERGY PROCUREMENT AND ENERGY MANAGEMENT PROGRAM, STUDENT LOAN PROGRAM, SOFTWARE PROCUREMENT PROGRAM, TUITION INSTALLMENT PROGRAM, PURCHASE CARD PROGRAM, ENVIONMENTAL COMPLIANCE, STUDENT HEALTH INSURANCE, CYBER SECURITY INITIATIVE, AND A MULTIPLE EMPLOYER RETIREMENT PLAN.

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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 $298,250

Program Service Revenue $1,508,741

Investment Income $269,301

Other Revenue $518,797

TOTAL REVENUE $2,595,089

Expense Breakdown

Grants Paid $295,100

Salaries & Benefits $1,630,059

Fundraising Expenses $54,186

Program Expenses $1,766,450

Other Expenses $667,870

TOTAL EXPENSES $2,593,029

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,595,089	$2,530,301	+0.0%
Expenses	$2,593,029	$2,358,658	+0.1%
Net Income	$2,060	$171,643	-1.0%

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

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

$991,246

Total Directors

$421,263

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA ALTMANN	CHAIR	2.00	Officer Director	$0	$0	$0
DOUGLAS LEE	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
ELIZABETH MEADE	SECRETARY/TR	2.00	Officer Director	$0	$0	$0
KENT TRACHTE	GOVT RELTNS	2.00	Director	$0	$0	$0
FR PAUL TAYLOR	GOVT RELTNS	2.00	Director	$0	$0	$0
JAMES MACLAREN	RESEARCH COM	2.00	Director	$0	$0	$0
DANIEL J MYERS	MBR SRVS COM	2.00	Director	$0	$0	$0
BRIAN KEECH	RESEARCH UNI	2.00	Director	$0	$0	$0
JAQUELYN FETROW	NAICU LIAISO	2.00	Director	$0	$0	$0
MARY FINGER	NAICU LIAISO	2.00	Director	$0	$0	$0
JONATHAN GREEN	CHAIR EMIERI	2.00	Director	$0	$0	$0
CHRIS DOMES	DIRECTOR	2.00	Director	$0	$0	$0
WESLEY FUGATE	DIRECTOR	2.00	Director	$0	$0	$0
JILL MURRAY	DIRECTOR	2.00	Director	$0	$0	$0
ANNE PRISCO	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN GETZ	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH HELBLE	DIRECTOR	2.00	Director	$0	$0	$0
KATHY HUMPHREY	DIRECTOR	2.00	Director	$0	$0	$0
CHERYL MCCONNELL	DIRECTOR	2.00	Director	$0	$0	$0
MARY ELLEN CARO	DIRECTOR	2.00	Director	$0	$0	$0
ROBYN HANNIGAN	DIRECTOR	2.00	Director	$0	$0	$0
JOHN E JONES III	DIRECTOR	2.00	Director	$0	$0	$0
FR JOSEPH MARINA	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS P FOLEY	PRESIDENT	50.00	Officer Director	$346,397	$74,866	$421,263
CALE NELSON	VP FIN & ADM	0.00	Officer	$0	$0	$0
TIMOTHY C ALEXANDER	VP FIN & ADM	50.00	Officer	$171,175	$28,171	$199,346
NICHOLE DUFFY	VP GVT RELAT	50.00	Officer	$161,669	$52,717	$214,386
RON URODA	VP RESEARCH	50.00	Officer	$137,930	$18,321	$156,251

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	$2,595,089	$2,593,029	$5,294,639	$2,060
2024	$2,530,301	$2,358,658	$5,402,144	$171,643
2023	$2,381,913	$2,297,562	$5,109,175	$84,351
2022	$2,357,742	$2,271,480	$5,036,454	$86,262
2021	$2,787,860	$2,388,595	$5,143,569	$399,265
2020	$2,421,483	$2,456,983	$4,451,114	$-35,500
2019	$2,665,204	$2,574,253	$4,134,097	$90,951
2018	$2,479,612	$2,535,912	$4,153,928	$-56,300

ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA