LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE

EIN: 251698677 501(c)(3) Education

ERIE, PA

Total Revenue
$230,492,050
Total Expenses
$134,394,858
Total Assets
$1,180,027,575
Net Assets
$1,058,270,632
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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
1993
Legal Domicile
PA
Principal Officer
JOHN M FERRETTI DO
Phone
8148666641
Tax Period
2024-07-01 to 2025-06-30

LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE, founded in 1993, is a major nonprofit in the Education sector that reported $230.5M in total revenue in fiscal year 2024. The organization ran a surplus of $96.1M, a strong 42% operating margin.

Mission

THE MISSION OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM) IS TO PREPARE STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS, PHARMACY PRACTITIONERS AND DENTISTS THROUGH PROGRAMS OF EXCELLENCE IN EDUCATION, RESEARCH, CLINICAL CARE, AND COMMUNITY SERVICES TO ENHANCE THE QUALITY OF LIFE THROUGH IMPROVED HEALTH FOR ALL HUMANITY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,038,563
Program Service Revenue $175,192,621
Investment Income $30,349,590
Other Revenue $7,911,276
TOTAL REVENUE $230,492,050

Expense Breakdown

Grants Paid $4,239,745
Salaries & Benefits $59,765,779
Fundraising Expenses $0
Program Expenses $105,235,168
Other Expenses $70,389,334
TOTAL EXPENSES $134,394,858

Year-over-Year Comparison

2024 2023 Change
Revenue $230,492,050 $222,063,231 +0.0%
Expenses $134,394,858 $126,590,457 +0.1%
Net Income $96,097,192 $95,472,774 +0.0%
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

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Governance

Voting Members
9
Independent Members
4
Employees
1056
Volunteers
5

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
5
$4,545,230
Total Directors
9
$3,412,390
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN M FERRETTI DO PRESIDENT/CEO 56.00
Officer Director
$1,570,358 $39,125 $1,609,483
MARLENE D MOSCO CHAIRMAN 1.00
Officer Director
$0 $0 $0
MARY L ECKERT SECRETARY 4.00
Officer Director
$0 $33,308 $723,538
DENNIS M STYN TRUSTEE 5.00
Director
$0 $47,505 $350,579
JAMES Y LIN DO TRUSTEE 1.00
Director
$0 $54,879 $697,790
JOAN L MOORE DO TRUSTEE 1.00
Director
$0 $0 $0
NANCY PEADEN TRUSTEE 1.00
Director
$0 $0 $0
THOMAS J WEDZIK TRUSTEE 1.00
Director
$31,000 $0 $31,000
SUZANNE K KELLEY DO TRUSTEE 1.00
Director
$0 $0 $0
SILVIA M FERRETTI DO PROVOST/VP OF ACADEMICS 73.00
Officer
$1,727,650 $39,266 $1,766,916
STEVEN G INMAN CPA CGMA VP FISCAL AFFAIRS/CFO 28.00
Officer
$406,338 $38,955 $445,293
RICHARD TERRY DO ASSOCIATE DEAN OF ACADEMIC AFFAIRS 40.00
Highest
$413,453 $49,032 $462,485
MARK KAUFFMAN DO ASSOCIATE DEAN OF ACADEMIC AFFAIRS 40.00
Highest
$362,875 $34,137 $397,012
MICHAEL ROWANE DO ASSOCIATE DEAN OF CLINICAL EDUCATION 40.00
Highest
$380,038 $45,728 $425,766
RICHARD E FERRETTI ESQ DIRECTOR OF RISK MANAGEMENT AND CORPORATE COMPLIAN 40.00
Highest
$347,604 $45,344 $392,948
MATTHEW BATEMAN PHD ASSISTANT PROVOST OF INSTITUTIONAL EFFECTIVENESS 40.00
Highest
$338,253 $41,432 $379,685
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 $230,492,050 $134,394,858 $1,180,027,575 $96,097,192
2024 No data No data No data No data
2023 $201,532,502 $121,233,796 $961,815,012 $80,298,706
2022 $201,771,210 $105,952,678 $806,863,470 $95,818,532
2021 $202,994,752 $105,154,051 $757,028,043 $97,840,701
2020 $162,737,666 $97,001,874 $601,786,639 $65,735,792
2019 $170,668,440 $97,667,196 $564,559,506 $73,001,244
2018 $167,821,490 $93,161,864 $504,992,094 $74,659,626
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