ELMHURST UNIVERSITY

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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

1942

Legal Domicile

Principal Officer

DR TROY VANAKEN

Phone

6306173400

Tax Period

2024-07-01 to 2025-06-30

ELMHURST UNIVERSITY, founded in 1942, is a major nonprofit that reported $177.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $153.2M left a modest 14% surplus.

Mission

ELMHURST UNIVERSITY INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY.

Program Service Accomplishments

Program 1

Expenses: $69,576,738 Revenue: $136,934,855

INSTRUCTION - ELMHURST UNIVERSITY PROVIDES POST-SECONDARY EDUCATION THROUGH APPROXIMATELY 28 ACADEMIC DEPARTMENTS AND OFFERS MORE THAN 70 UNDERGRADUATE MAJORS, 17 PRE-PROFESSIONAL PROGRAMS AND A FULL ARRAY OF GRADUATE PROGRAMS, INCLUDING 1 DOCTORAL PROGRAM. IN ADDITION, THE ELMHURST LEARNING AND SUCCESS ACADEMY OFFERS A NON-DEGREE PROGRAM FOR YOUNG ADULTS WITH LEARNING, INTELLECTUAL, COGNITIVE, PHYSICAL, AND/OR SENSORY DISABILITIES.SCHOLARSHIPS AND GRANTS - WE ASSIST OUR STUDENTS WITH A COMPREHENSIVE RANGE OF FINANCIAL AID PROGRAMS, INCLUDING INSTITUTIONAL MERIT-BASED SCHOLARSHIPS, INSTITUTIONAL AND GOVERNMENTAL NEED-BASED GRANTS. APPROXIMATELY 100% OF THE FULL TIME UNDERGRADUATE STUDENTS WHO ENTERED THE UNIVERSITY IN THE FALL RECEIVED SUCH SCHOLARSHIPS AND GRANTS.

Program 2

Expenses: $46,855,953 Revenue: $7,922,208

STUDENT SERVICES - INCLUDES STUDENT AFFAIRS, ADMISSIONS, REGISTRAR, FINANCIAL AID COUNSELING, SOCIAL AND CULTURAL DEVELOPMENT, WELLNESS CENTER, AND ATHLETICS. STUDENT LIFE AT ELMHURST IS ACTIVE AND CREATIVE ALLOWING STUDENTS TO GET INVOLVED IN DIVERSE AREAS INCLUDING STUDENT GOVERNMENT, 'THE LEADER' STUDENT NEWSPAPER, BLACK STUDENT UNION, HABITAT FOR HUMANITY, QUEER STRAIGHT ALLIANCE, LATINO STUDENT ASSOCIATION, MODEL UN, WRSE RADIO STATION, AND MANY OTHER GROUPS AS WELL AS INTERCOLLEGIATE SPORTS AND INTRAMURAL ACTIVITIES.

Program 3

Expenses: $15,185,326 Revenue: $203,657

ACADEMIC SUPPORT - ACADEMIC DEAN, LIBRARY SERVICES, ACADEMIC ADVISING AND ACADEMIC COMPUTING ARE INCLUDED IN ACADEMIC SUPPORT. THE A.C. BUEHLER LIBRARY PROVIDES MANY TECHNOLOGICALLY ADVANCED SERVICES FOR INSTRUCTIONAL AND INFORMATIONAL RESEARCH, OR FOR PERSONAL ENJOYMENT WITH WIRELESS ACCESS THROUGHOUT.

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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 $24,493,869

Program Service Revenue $145,060,720

Investment Income $7,202,846

Other Revenue $918,916

TOTAL REVENUE $177,676,351

Expense Breakdown

Grants Paid $71,530,988

Salaries & Benefits $53,311,204

Fundraising Expenses $1,205,469

Program Expenses $131,618,017

Other Expenses $28,407,407

TOTAL EXPENSES $153,249,599

Year-over-Year Comparison

	2024	2023	Change
Revenue	$177,676,351	$152,631,420	+0.2%
Expenses	$153,249,599	$145,599,853	+0.1%
Net Income	$24,426,752	$7,031,567	+2.5%

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

1739

Volunteers

223

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

$1,413,664

Total Directors

$820,071

Key Employees

$507,617

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR TROY D VANAKEN	PRESIDENT	50.00	Officer Director	$665,205	$154,866	$820,071
HUGH H MCLEAN	CHAIR	2.00	Officer Director	$0	$0	$0
JULIUS WESLEY BECTON III	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SERGIO E ACOSTA	TRUSTEE	1.00	Director	$0	$0	$0
LESLIE BANKS	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN BLAHA	TRUSTEE	2.00	Director	$0	$0	$0
MARY SCHALLER BLAUFUSS	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN BOWERS	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM CANADY	TRUSTEE EMERITI	2.00	Director	$0	$0	$0
FRANK CERRONE	TRUSTEE	1.00	Director	$0	$0	$0
SARAH CLARIN	TRUSTEE	1.00	Director	$0	$0	$0
JULIE CURRAN	TRUSTEE	2.00	Director	$0	$0	$0
KENT T DAHLGREN	TRUSTEE	2.00	Director	$0	$0	$0
DR CATHY DOUCETTE	TRUSTEE	1.00	Director	$0	$0	$0
LIZ DUDEK	TRUSTEE	2.00	Director	$0	$0	$0
MARICELA GUZMAN	TRUSTEE	2.00	Director	$0	$0	$0
L BERNARD JAKES	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN JEMISON	TRUSTEE	1.00	Director	$0	$0	$0
RAJEEV KHANNA	TRUSTEE	1.00	Director	$0	$0	$0
GRANT KIEF	TRUSTEE	1.00	Director	$0	$0	$0
ALFRED N KOPLIN	TRUSTEE	2.00	Director	$0	$0	$0
MICHELLE LANTER SMITH	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA J LUCKS	TRUSTEE	1.00	Director	$0	$0	$0
JOANN M MCGUINESS	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD J MOMKUS	TRUSTEE	2.00	Director	$0	$0	$0
JUDY MORLEY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID MOULTHROP	TRUSTEE	2.00	Director	$0	$0	$0
BILL NELSON	TRUSTEE	2.00	Director	$0	$0	$0
JUDITH A PAICE	TRUSTEE	2.00	Director	$0	$0	$0
PAULA PFORZHEIMER	TRUSTEE	2.00	Director	$0	$0	$0
ROSIE PHILLIPS DAVIS	TRUSTEE	1.00	Director	$0	$0	$0
VIRGINIA PORCHASKA	TRUSTEE	2.00	Director	$0	$0	$0
HAROLD RICE	TRUSTEE	1.00	Director	$0	$0	$0
NATHAN RICHEY	TRUSTEE	1.00	Director	$0	$0	$0
FRANK RUFFOLO	TRUSTEE	2.00	Director	$0	$0	$0
EVA W TAMELING	TRUSTEE	2.00	Director	$0	$0	$0
REV ROBERT O ULLMAN	TRUSTEE	2.00	Director	$0	$0	$0
JOAN VILIM	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL WAGNER	TRUSTEE	2.00	Director	$0	$0	$0
THE HONORABLE KEVIN L YORK	TRUSTEE	1.00	Director	$0	$0	$0
KURT ASHLEY	VP IO (THRU 5/25) VP FIN (AS OF 6/25)	50.00	Officer	$233,860	$53,112	$286,972
JULIE SUDERMAN	VP OF FINANCE (THRU 12/2024)	50.00	Officer	$244,005	$62,616	$306,621
DEAN PRIBBENOW	VP ACADEMIC AFFAIRS	50.00	Key Emp	$207,853	$44,453	$252,306
PHILLIP RIORDAN	VP STUDENT AFFAIRS	50.00	Key Emp	$196,289	$59,022	$255,311
SIAW-PENG WAN	PROFESSOR OF BUSINESS ADMINISTRATION	50.00	Highest	$157,271	$30,925	$188,196
DIANE SALVADOR	EXECUTIVE DIRECTOR OF NURSING	50.00	Highest	$202,913	$23,646	$226,559
BRUCE KING	VP, EQUITY & INCLUSION (THRU 06/2024)	50.00	Highest	$189,922	$25,758	$215,680
CHRISTINE GRENIER	VP ADMISSIONS	50.00	Highest	$195,974	$15,336	$211,310
DEBRA LUKEHART	EXEC. DIR. OF MKTNG & COMMUNICATION	50.00	Highest	$162,421	$26,050	$188,471

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	$177,676,351	$153,249,599	$336,620,094	$24,426,752
2024	No data	No data	No data	No data
2023	$139,557,739	$134,973,225	$283,436,648	$4,584,514
2022	$145,021,170	$130,772,602	$261,735,880	$14,248,568
2021	$147,092,128	$125,111,803	$252,544,326	$21,980,325
2020	$134,052,268	$122,417,804	$201,048,408	$11,634,464
2019	$131,899,127	$119,488,765	$201,127,798	$12,410,362
2018	$125,694,812	$117,499,432	$188,662,047	$8,195,380