Trine University (EIN 350715530) - 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

1948

Legal Domicile

Phone

2606654131

Tax Period

2024-05-01 to 2025-04-30

Trine University, founded in 1948, is a major nonprofit in the Education sector that reported $232.8M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $73.4M, a strong 32% operating margin.

Mission

TRINE, AN INTERNATIONALLY RECOGNIZED PRIVATE, INDEPENDENT, CO-EDUCATIONAL INSTITUTION OFFERS DEGREES IN VARIOUS PROGRAMS INCLUDING ENGINEERING, MATH, SCIENCE AND BUSINESS.

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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 $23,889,865

Program Service Revenue $202,379,627

Investment Income $5,750,463

Other Revenue $776,353

TOTAL REVENUE $232,796,308

Expense Breakdown

Grants Paid $48,580,287

Salaries & Benefits $55,195,766

Fundraising Expenses $2,448,174

Program Expenses $146,668,737

Other Expenses $55,581,451

TOTAL EXPENSES $159,357,504

Year-over-Year Comparison

	2024	2023	Change
Revenue	$232,796,308	$211,620,138	+0.1%
Expenses	$159,357,504	$150,968,710	+0.1%
Net Income	$73,438,804	$60,651,428	+0.2%

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

2020

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

$1,734,401

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR SHERI G TRINE	BOARD MEMBER	1.0	Director	$0	$0	$0
MR ANDREW R HEIN	BOARD MEMBER	1.0	Director	$0	$0	$0
MR DAVID FINDLAY	BOARD MEMBER	1.0	Director	$0	$0	$0
MR DEREK REINERS	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JAMES FABIANI	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JASON A STECHSCHULTE	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JEFFREY L TURNER	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JERRY ALLEN	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JOE JORDAN	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JOHN B PELLEGRINO JR	BOARD MEMBER	1.0	Director	$0	$0	$0
MR JOHN COUNCELLER	BOARD MEMBER	1.0	Director	$0	$0	$0
MR KEITH E BUSSE	BOARD VICE-CHAIR	1.0	Director	$0	$0	$0
MR KEITH M TURNER	BOARD MEMBER	1.0	Director	$0	$0	$0
MR KENNETH EHINGER	BOARD MEMBER	1.0	Director	$0	$0	$0
MR LARRY E REINERS	BOARD MEMBER	1.0	Director	$0	$0	$0
MR LYNN A BROOKS	BOARD TREASURER	1.0	Director	$0	$0	$0
MR MARK MUSIC	BOARD MEMBER	1.0	Director	$0	$0	$0
MR MICHAEL D AXEL	BOARD MEMBER	1.0	Director	$0	$0	$0
MR MICHAEL EIKENBERRY	BOARD MEMBER	1.0	Director	$0	$0	$0
MR RICHARD OEDER	BOARD MEMEBER	1.0	Director	$0	$0	$0
MR RICK HENVEY	BOARD MEMBER	1.0	Director	$0	$0	$0
MR RICK L JAMES	BOARD CHAIR	1.0	Director	$0	$0	$0
MR TIMOTHY J HAFFNER	BOARD MEMBER	1.0	Director	$0	$0	$0
MR WILLIAM DUBOIS	BOARD MEMBER	1.0	Director	$0	$0	$0
MS CRYSTAL SATTLER	BOARD MEMBER	1.0	Director	$0	$0	$0
MS ELIZABETH F ROONEY	BOARD SECRETARY	1.0	Director	$0	$0	$0
MS SARAH WAIDELICH	BOARD MEMBER	1.0	Director	$0	$0	$0
MS THERESA E WAGLER	BOARD MEMBER	1.0	Director	$0	$0	$0
Anthony Kline	Executive Vice President	50.0	Officer	$172,691	$34,246	$206,937
DR EARL D BROOKS II	PRESIDENT/CEO	50.0	Officer	$491,218	$40,250	$531,468
DR JOHN F SHANNON	PRESIDENT/CEO (Left 6/2024)	50.0	Officer	$449,612	$27,665	$477,277
MS GRETCHEN MILLER	SVP/COO	50.0	Officer	$256,577	$35,623	$292,200
MS KAYLA WARREN	SVP/CFO	50.0	Officer	$201,149	$25,370	$226,519
Keirsten Eberts	VP of Online & International Studies	50.0	Highest	$168,948	$31,940	$200,888
Kimberly Bennett	VP for Enrollment Management	50.0	Highest	$169,470	$25,676	$195,146
MR ALEKSANDR KUTSENOK	ASSISTANT PROFESSOR	50.0	Highest	$183,467	$44,283	$227,750
MR MATTHEW LAND	VP FOR ATHLETICS	50.0	Highest	$187,736	$36,448	$224,184
MS LISA M CLEMENS	DEAN - BROOKS COLLEGE	50.0	Highest	$168,335	$9,306	$177,641

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	$232,796,308	$159,357,504	$440,529,917	$73,438,804
2024	$211,620,138	$150,968,710	$364,746,007	$60,651,428
2023	$187,400,612	$130,306,232	$299,322,114	$57,094,380
2022	$136,639,555	$116,503,232	$235,561,349	$20,136,323
2021	$121,889,140	$107,424,778	$221,741,150	$14,464,362
2020	$113,182,460	$100,492,245	$197,072,495	$12,690,215
2019	$103,159,612	$96,905,593	$194,861,077	$6,254,019
2019	$103,159,612	$96,905,593	$194,861,077	$6,254,019
2019	$103,159,612	$96,905,593	$194,861,077	$6,254,019
2018	$101,478,461	$91,749,242	$189,934,053	$9,729,219

Trine University