NORTHEAST OHIO MEDICAL UNIVERSITY … - 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

1978

Legal Domicile

Principal Officer

MARY TAYLOR

Phone

3303256369

Tax Period

2023-07-01 to 2024-06-30

NORTHEAST OHIO MEDICAL UNIVERSITY FOUNDATION, founded in 1978, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.8M, a strong 34% operating margin.

Mission

TO STRENGTHEN THE FINANCIAL CAPACITY OF THE NORTHEAST OHIO MEDICAL UNIVERSITY AND TO BROADEN ACCESS TO HIGH QUALITY MEDICAL, PHARMACY, AND GRADUATE EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $763,017

SCHOLARSHIPS AND GRANTS TO STUDENTS OF NORTHEAST OHIO MEDICAL UNIVERSITY.

Program 2

Expenses: $545,776

INSTRUCTIONAL SUPPORT FOR NORTHEAST OHIO MEDICAL UNIVERSITY.

Program 3

Expenses: $1,177,982

ACADEMIC SUPPORT FOR NORTHEAST OHIO MEDICAL UNIVERSITY

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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 $4,403,213

Program Service Revenue $0

Investment Income $940,411

Other Revenue $23,299

TOTAL REVENUE $5,366,923

Expense Breakdown

Grants Paid $2,439,985

Salaries & Benefits $516,109

Fundraising Expenses $411,709

Program Expenses $2,658,618

Other Expenses $589,486

TOTAL EXPENSES $3,545,580

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,366,923	$8,046,536	-0.3%
Expenses	$3,545,580	$2,651,127	+0.3%
Net Income	$1,821,343	$5,395,409	-0.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK A MOSLEY JD	CHAIR	4.00	Officer Director	$0	$0	$0
MARK S LERNER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DAVID J KONIK	SECRETARY	2.00	Officer Director	$0	$0	$0
JOEL MARX	TREASURER	2.00	Officer Director	$0	$0	$0
KATHLEEN S PADGITT MD FACP	CHAIR, COMMITTEE ON DIRECTORS	2.00	Officer Director	$0	$0	$0
VIRGINIA BANKS MD	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH L GRINSTEIN JD	DIRECTOR	1.00	Director	$0	$0	$0
JERRY R HERMAN CFA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID P LEONE DC MBA	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER L LILE CELA	DIRECTOR	1.00	Director	$0	$0	$0
MARIO MASTROIANNI	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH A OKEY JD	DIRECTOR	1.00	Director	$0	$0	$0
LESLEIGH ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
RAJIV TANEJA DMD	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN C WAGNER CEMCMVPCBCP	DIRECTOR	1.00	Director	$0	$0	$0
RAJIV B LAPASIA MD	EX OFFICIO - VOTING	1.00	Director	$0	$0	$0
MARY TAYLOR	ASSISTANT TREASURER	2.00	Officer	$0	$0	$0
DOREEN RILEY	FORMER FOUNDATION PRESIDENT (MAY 2024)	2.00	Officer	$0	$0	$0
DAVID VITATOE	INTERIM FOUNDATION PRESIDENT (MAY - JUNE 2024)	2.00	Officer	$0	$0	$0

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	$5,366,923	$3,545,580	$46,333,072	$1,821,343
2023	$8,046,536	$2,651,127	$35,572,515	$5,395,409
2022	$5,634,927	$3,534,157	$28,522,645	$2,100,770
2021	$4,627,290	$3,222,637	$32,750,103	$1,404,653
2020	$6,821,378	$2,327,755	$27,079,732	$4,493,623
2019	$6,180,509	$1,996,610	$24,522,465	$4,183,899
2018	$2,889,197	$1,827,539	$20,341,785	$1,061,658

NORTHEAST OHIO MEDICAL UNIVERSITY FOUNDATION