THE OHIO FOUNDATION OF INDEPENDENT COLLEGES (EIN 314441082) - 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

1950

Legal Domicile

Principal Officer

WILLIAM SPIKER

Phone

6144691950

Tax Period

2023-07-01 to 2024-06-30

THE OHIO FOUNDATION OF INDEPENDENT COLLEGES, founded in 1950, is a community nonprofit in the Education sector that reported $4.4M in total revenue in fiscal year 2023. Expenses of $4.1M left a modest 6% surplus.

Mission

TO SOLICIT CONTRIBUTIONS FROM THE CORPORATE COMMUNITY AND PRIVATE FOUNDATIONS ON BEHALF OF 33 MEMBER-COLLEGE/UNIVERSITIES THAT SERVE NEARLY 80,000 STUDENTS. MEMBERS ARE NONPROFIT, PRIVATELY CONTROLLED, 4-YEAR COLLEGES/UNIVERSITIES CHARTERED BY THE STATE OF OHIO, ARE FULLY ACCREDITED BY HIGHER LEARNING COMMISSION, AND HAVE A CURRICULAR PROGRAM IN TRADITIONAL LIBERAL ARTS. CONTRIBUTIONS TO OFIC ARE DISTRIBUTED TO COLLEGES/UNIVERSITIES ANNUALLY AND PROVIDE TUITION ASSISTANCE AND OPERATIONAL SUPPORT. OFIC PROVIDES ITS DONORS WITH AN EFFICIENT MEANS TO SUPPORT INDEPENDENT HIGHER EDUCATION. OFIC ALSO PROVIDES PROGRAMS TO PROMOTE CORPORATE/INDEPENDENT HIGHER EDUCATION PARTNERSHIPS AND PROVIDES LEADERSHIP IN DEVELOPING EFFORTS THAT RESULT IN REDUCED COSTS AND IMPROVED BUSINESS PRACTICES FOR ITS MEMBERS.

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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 $2,315,772

Program Service Revenue $1,221,739

Investment Income $825,664

Other Revenue $10,000

TOTAL REVENUE $4,373,175

Expense Breakdown

Grants Paid $2,447,142

Salaries & Benefits $1,030,236

Fundraising Expenses $557,688

Program Expenses $3,050,452

Other Expenses $634,108

TOTAL EXPENSES $4,111,486

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,373,175	$4,506,221	0.0%
Expenses	$4,111,486	$4,252,857	0.0%
Net Income	$261,689	$253,364	+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

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

$417,098

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EVAN ANDREWS	TRUSTEE	1.00	Director	$0	$0	$0
MELISSA BAUMANN	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS BECHTEL	TRUSTEE	1.00	Director	$0	$0	$0
CATHERINE BELDEN	TRUSTEE	1.00	Director	$0	$0	$0
DAVID BELEW	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM BISSET	TRUSTEE	1.00	Director	$0	$0	$0
ROB BOHNER	TRUSTEE	1.00	Director	$0	$0	$0
GABRIEL BRUNO	TRUSTEE	1.00	Director	$0	$0	$0
JAMES CARULAS	TRUSTEE	1.00	Director	$0	$0	$0
CARSON CASTLEMAN	TRUSTEE	1.00	Director	$0	$0	$0
COREY COCKERILL	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY COLLINS	TRUSTEE	1.00	Director	$0	$0	$0
JOHN COMERFORD	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW DANIS	TRUSTEE	1.00	Director	$0	$0	$0
DAVID DECKER	TRUSTEE	1.00	Director	$0	$0	$0
MARGARET DRUGOVICH	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL FRANDSEN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES GASIOR	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL GILLIGAN	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER GOFF	TRUSTEE	1.00	Director	$0	$0	$0
T STEPHEN GREGORY	TRUSTEE	1.00	Director	$0	$0	$0
FREDERICK HADLEY	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN HIRZEL	TRUSTEE	1.00	Director	$0	$0	$0
YVETTE HUNSICKER	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT HUNTINGTON	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN KALE	TRUSTEE	1.00	Director	$0	$0	$0
DAVID KAUFMAN	TRUSTEE	1.00	Director	$0	$0	$0
DAVID KING	TRUSTEE	1.00	Director	$0	$0	$0
GREGORY KING	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL KORALEWSKI	TRUSTEE	1.00	Director	$0	$0	$0
JULIE KORNFIELD	TRUSTEE	1.00	Director	$0	$0	$0
PAM LEBOLD	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT MALONE	TRUSTEE	1.00	Director	$0	$0	$0
JIM MALZ	TRUSTEE	1.00	Director	$0	$0	$0
RICHANNE MANKEY	TRUSTEE	1.00	Director	$0	$0	$0
ANNE MCCALL	TRUSTEE	1.00	Director	$0	$0	$0
RONALD MCMASTER	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT MERZWEILER	TRUSTEE	1.00	Director	$0	$0	$0
ALAN MICIAK	TRUSTEE	1.00	Director	$0	$0	$0
SUZANNE MIKLOS	TRUSTEE	1.00	Director	$0	$0	$0
GREGORY MILLER	TRUSTEE	1.00	Director	$0	$0	$0
BEAR MONITA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MUSE	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY NOVOTNY	TRUSTEE	1.00	Director	$0	$0	$0
JON PARRISH PEEDE	TRUSTEE	1.00	Director	$0	$0	$0
FATHER DAVID PIVONKA	TRUSTEE	1.00	Director	$0	$0	$0
HARIS PRATSINAKIS	TRUSTEE	1.00	Director	$0	$0	$0
SHONNA RIEDLINGER	TRUSTEE	1.00	Director	$0	$0	$0
KATHERINE ROWE FELL	TRUSTEE	1.00	Director	$0	$0	$0
TRACY SABO	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS SCHUCK	TRUSTEE	1.00	Director	$0	$0	$0
JENNIFER SCHULLER	TRUSTEE	1.00	Director	$0	$0	$0
LILLIAN SCHUMACHER	TRUSTEE	1.00	Director	$0	$0	$0
TROY SINGER	TRUSTEE	1.00	Director	$0	$0	$0
RALPH SMITHERS	TRUSTEE	1.00	Director	$0	$0	$0
RANDOLPH SNOW	TRUSTEE	1.00	Director	$0	$0	$0
LISA STAVSKY	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS SUTTON	TRUSTEE	1.00	Director	$0	$0	$0
EDDIE TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
WARD TIMKEN	TRUSTEE	1.00	Director	$0	$0	$0
CARMEN TWILLIE AMBAR	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES TYBURSKI	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW VANDENBERG	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTINE WALKER	TRUSTEE	1.00	Director	$0	$0	$0
WAYNE WEBSTER	TRUSTEE	1.00	Director	$0	$0	$0
ADAM WEINBERG	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS WHITE	TRUSTEE	1.00	Director	$0	$0	$0
AARON WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
JANE WOOD	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA BRITENRIKER	CHAIR	1.00	Officer Director	$0	$0	$0
JIM CARULAS	VICE CHAIR (CORPORATE)	1.00	Officer Director	$0	$0	$0
SUSAN HASSELER	VICE CHAIR (COLLEGIATE)	1.00	Officer Director	$0	$0	$0
JAMES FAHEY	TREASURER	1.00	Officer Director	$0	$0	$0
TIMOTHY COLLINS	SECRETARY	1.00	Officer Director	$0	$0	$0
RANDALL MARKER	PAST CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM SPIKER	PRESIDENT	40.00	Officer	$219,518	$69,283	$288,801
BRETT FIELDS	VP OF OPERATIONS	40.00	Officer	$111,016	$17,281	$128,297

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	$4,373,175	$4,111,486	$7,576,567	$261,689
2023	$4,506,221	$4,252,857	$7,625,784	$253,364
2022	$4,168,054	$3,658,988	$7,138,726	$509,066
2021	$4,357,939	$4,626,306	$10,019,771	$-268,367
2020	$4,155,775	$3,574,336	$8,373,314	$581,439
2019	$3,874,316	$4,101,685	$7,515,541	$-227,369
2018	$3,938,071	$4,324,030	$6,884,428	$-385,959

THE OHIO FOUNDATION OF INDEPENDENT COLLEGES