THE BOARD OF DIRECTORS OF WITTENBERG COLLEGE (EIN 310537177) - 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

1845

Legal Domicile

Principal Officer

DR MICHAEL FRANDSEN

Phone

9373277009

Tax Period

2023-07-01 to 2024-06-30

THE BOARD OF DIRECTORS OF WITTENBERG COLLEGE, founded in 1845, is a mid-sized nonprofit in the Education sector that reported $81.3M in total revenue in fiscal year 2023. Expenses of $96.7M exceeded revenue, resulting in a 19% operating deficit.

Mission

WITTENBERG UNIVERSITY PROVIDES A LIBERAL ARTS EDUCATION DEDICATED TO INTELLECTUAL INQUIRY AND WHOLENESS OF PERSON WITHIN A DIVERSE RESIDENTIAL COMMUNITY. REFLECTING ITS LUTHERAN HERITAGE, WITTENBERG CHALLENGES STUDENTS TO BECOME RESPONSIBLE GLOBAL CITIZENS, TO DISCOVER THEIR CALLINGS, AND TO LEAD PERSONAL, PROFESSIONAL, AND CIVIC LIVES OF CREATIVITY, SERVICE, COMPASSION, AND INTEGRITY.

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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 $5,663,554

Program Service Revenue $66,314,100

Investment Income $8,942,036

Other Revenue $346,191

TOTAL REVENUE $81,265,881

Expense Breakdown

Grants Paid $37,942,018

Salaries & Benefits $26,892,718

Fundraising Expenses $3,310,618

Program Expenses $86,785,691

Other Expenses $31,576,369

TOTAL EXPENSES $96,730,918

Year-over-Year Comparison

	2023	2022	Change
Revenue	$81,265,881	$78,702,689	+0.0%
Expenses	$96,730,918	$96,046,317	+0.0%
Net Income	$-15,465,037	$-17,343,628	-0.1%

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

1302

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

$806,084

Total Directors

$555,874

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MICHAEL FRANDSEN	PRESIDENT	40.00	Officer Director	$383,495	$172,379	$555,874
WILLIAM EDWARDS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ERIC RUSNAK	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
WENDY FORD	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
RONALD SZUCH	BOARD TREASURER	1.00	Officer Director	$0	$0	$0
DAVID BAINES	BOARD MEMBER	1.00	Director	$0	$0	$0
WESLEY BATES	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM BOGGS	BOARD MEMBER	1.00	Director	$0	$0	$0
STACIA RASTAUSKAS BRETHERTON	BOARD MEMBER	1.00	Director	$0	$0	$0
JOYCE E DEVITO	BOARD MEMBER AS OF 10/23	1.00	Director	$0	$0	$0
REV SUZANNE DILLAHUNT	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLES GIFFIN	BOARD MEMBER AS OF 10/23	1.00	Director	$0	$0	$0
ALVERA HOOPER	BOARD MEMBER	1.00	Director	$0	$0	$0
HON JANET JACKSON	BOARD MEMBER UNTIL 5/24	1.00	Director	$0	$0	$0
DOUGLAS KENTFIELD	BOARD MEMBER	1.00	Director	$0	$0	$0
DR JAMES LAKSO	BOARD MEMBER	1.00	Director	$0	$0	$0
DR JOHN MARCHHAUSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
SARAH HAGEN MCWILLIAMS	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT MERZWEILER	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN NEELY	BOARD MEMBER	1.00	Director	$0	$0	$0
REV DR SCOTT NESS	BOARD MEMBER	1.00	Director	$0	$0	$0
REV CATHERINE SCHIBLER KEEGAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN SHUMATE	BOARD MEMBER	1.00	Director	$0	$0	$0
DR ALAN STEWART	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL SUMMERS	BOARD MEMBER AS OF 10/23	1.00	Director	$0	$0	$0
ROBERT YOUNG	VP FINANCE & ADMIN UNTIL 5/24	40.00	Officer	$202,967	$47,243	$250,210
REBECCA KOCHER	VP ADVANCEMENT	40.00	Highest	$212,998	$24,514	$237,512
BRIAN YONTZ	PROVOST	40.00	Highest	$189,898	$21,182	$211,080
BRIAN AGLER	VP ATHLETICS AND RECREATION	40.00	Highest	$170,418	$30,370	$200,788
CASEY GILL	VP STUDENT DEVELOPMENT	40.00	Highest	$141,396	$33,801	$175,197
MARIBETH STEVENS	VP ENROLLMENT MANAGEMENT	40.00	Highest	$172,604	$16,264	$188,868

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	$81,265,881	$96,730,918	$154,583,100	$-15,465,037
2023	$78,702,689	$96,046,317	$168,241,961	$-17,343,628
2022	$89,895,310	$92,016,828	$188,429,024	$-2,121,518
2021	$90,582,259	$87,051,876	$210,164,977	$3,530,383
2020	$89,178,248	$96,666,328	$198,135,859	$-7,488,080
2019	$94,271,550	$91,269,014	$209,526,257	$3,002,536
2018	$110,974,567	$92,855,665	$235,606,488	$18,118,902

THE BOARD OF DIRECTORS OF WITTENBERG COLLEGE