MORRISON INSTITUTE OF TECHNOLOGY

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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

1977

Legal Domicile

Principal Officer

MIKE GUNDERSON

Phone

8157727218

Tax Period

2023-06-01 to 2024-05-31

MORRISON INSTITUTE OF TECHNOLOGY, founded in 1977, is a community nonprofit in the Education sector that reported $1.8M in total revenue in fiscal year 2023.

Mission

TO PROVIDE AN EDUCATION AND RELATED SERVICES TO ALL ENROLLED STUDENTS.

Program Service Accomplishments

Program 1

Expenses: $1,627,384 Revenue: $1,092,040

PROVIDE COLLEGE LEVEL ACADEMIC PROGRAMS WITH CORRESPONDING STUDENT SERVICES AND ACTIVITIES.

Program 2

Expenses: $99,426 Revenue: $148,175

PROVIDE STUDENT HOUSING TO ALL ON-CAMPUS STUDENTS.

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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 $540,745

Program Service Revenue $1,240,215

Investment Income $5,553

Other Revenue $29,424

TOTAL REVENUE $1,815,937

Expense Breakdown

Grants Paid $234,239

Salaries & Benefits $1,024,809

Fundraising Expenses $0

Program Expenses $1,726,810

Other Expenses $696,287

TOTAL EXPENSES $1,955,335

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,815,937	$1,730,418	+0.0%
Expenses	$1,955,335	$1,750,291	+0.1%
Net Income	$-139,398	$-19,873	+6.0%

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

N/A

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
CHRIS SCOTT	SCHOOL PRESI	40.00	Highest	$123,600	$0	$123,600
KEN GOOLEY	DIRECTOR	0.50	Director	$0	$0	$0
CRAIG GRAY	CHAIRMAN	0.50	Director	$0	$0	$0
MIKE GUNDERSON	DIRECTOR	0.50	Director	$0	$0	$0
DEANNA HERMES	DIRECTOR	0.50	Director	$0	$0	$0
DAVE WEBER	DIRECTOR	0.50	Director	$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	$1,815,937	$1,955,335	$3,086,686	$-139,398
2023	$1,730,418	$1,750,291	$3,238,330	$-19,873
2022	$2,173,933	$2,351,103	$3,310,964	$-177,170
2021	$2,698,370	$2,115,905	$3,503,543	$582,465
2020	$2,055,187	$2,300,620	$3,235,483	$-245,433
2019	$2,521,602	$2,463,166	$3,025,888	$58,436