CLEVELAND STATE UNIVERSITY FOUNDATION (EIN 341316665) - 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

1969

Legal Domicile

Principal Officer

CHAD WARREN

Phone

2166875522

Tax Period

2024-07-01 to 2025-06-30

CLEVELAND STATE UNIVERSITY FOUNDATION, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $23.9M in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $7.7M, a strong 32% operating margin.

Mission

THE CSUF IS ORGANIZED PRIMARILY TO ENGAGE IN ACTIVITIES TO PROVIDE SUPPORT AND SERVICES TO CSU.

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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 $15,437,221

Program Service Revenue $73,259

Investment Income $8,318,366

Other Revenue $39,181

TOTAL REVENUE $23,868,027

Expense Breakdown

Grants Paid $14,170,568

Salaries & Benefits $0

Fundraising Expenses $193,087

Program Expenses $15,023,386

Other Expenses $1,973,203

TOTAL EXPENSES $16,143,771

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,868,027	$36,222,320	-0.3%
Expenses	$16,143,771	$19,306,721	-0.2%
Net Income	$7,724,256	$16,915,599	-0.5%

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

$323,825

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN WHITE	CHAIR	10.00	Officer Director	$0	$0	$0
MICHAEL KLEIN	VICE CHAIR	10.00	Officer Director	$0	$0	$0
JEFFREY A VAVRUSKA	TREASURER	10.00	Officer Director	$0	$0	$0
JERRY JARZABEK	SECRETARY	1.00	Officer Director	$0	$0	$0
ANTHONY S BAKALE	DIRECTOR	1.00	Director	$0	$0	$0
DONNIE BEDNEY	DIRECTOR	1.00	Director	$0	$0	$0
NANCY BERARDINELLI-KRANTZ	DIRECTOR	1.00	Director	$0	$0	$0
THERESA CARTER	DIRECTOR	1.00	Director	$0	$0	$0
LONNIE COLEMAN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES T DEIOTTE	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL FASHIMPAUR	DIRECTOR	1.00	Director	$0	$0	$0
ANN FRANGOS	DIRECTOR	1.00	Director	$0	$0	$0
JUDY GHAZOUL HILOW	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN GEVRY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GUNNING II	DIRECTOR	1.00	Director	$0	$0	$0
JEFF HERZOG	DIRECTOR	1.00	Director	$0	$0	$0
JAMES KANDRAC	DIRECTOR	1.00	Director	$0	$0	$0
AMY KAPLAN	DIRECTOR	1.00	Director	$0	$0	$0
ARIANE KIRKPATRICK	DIRECTOR	1.00	Director	$0	$0	$0
JANET L KRAMER	DIRECTOR	1.00	Director	$0	$0	$0
MARK LANTZ	DIRECTOR	1.00	Director	$0	$0	$0
JOE MASTERS	DIRECTOR	1.00	Director	$0	$0	$0
NANCY MENDEZ	DIRECTOR	1.00	Director	$0	$0	$0
ALAN NEVEL	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN RAINS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS ROBENALT	DIRECTOR	1.00	Director	$0	$0	$0
DARIA ROEBUCK	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS O'TOOLE	DIRECTOR	1.00	Director	$0	$0	$0
JULIE REHM	EXECUTIVE DIRECTOR	10.00	Officer	$0	$39,959	$323,825

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	$23,868,027	$16,143,771	$181,182,093	$7,724,256
2024	$36,222,320	$19,306,721	$164,721,428	$16,915,599
2023	$17,075,120	$17,314,384	$135,609,002	$-239,264
2022	$22,631,479	$13,838,843	$125,849,909	$8,792,636
2021	$24,683,910	$13,579,093	$135,734,258	$11,104,817
2020	$11,409,961	$12,821,465	$110,232,117	$-1,411,504
2019	$15,779,392	$15,248,862	$112,061,241	$530,530
2018	$21,717,806	$15,322,452	$112,111,998	$6,395,354
2018	$21,717,806	$15,322,452	$112,111,998	$6,395,354

CLEVELAND STATE UNIVERSITY FOUNDATION