LAKEVIEW COLLEGE OF NURSING

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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

1988

Legal Domicile

Principal Officer

SHEILA MINGEE

Phone

2177090920

Tax Period

2023-01-01 to 2023-12-31

LAKEVIEW COLLEGE OF NURSING, founded in 1988, is a community nonprofit in the Education sector that reported $2.9M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Net assets of $24.4M represent 100 months of operating reserves.

Mission

LAKEVIEW COLLEGE OF NURSING HAS A CENTRAL FOCUS TO BE A DYNAMIC CENTER OF EDUCATIONAL EXCELLENCE AS A DIVERSE AND INCLUSIVE COLLEGE COMMUNITY THAT WORKS TOGETHER, EXEMPLIFYING ADAPTABILITY, INTEGRITY, AND CARING. THE COLLEGE WILL BE FOREFRONT TO THE TRENDS IN HEALTH CARE AND COMMITTED TO NURSING AS A PROFESSION BY PREPARING SAFE, COMPETENT, PATIENT-CENTERED, CARING PROFESSIONAL NURSES FOR LEADERSHIP, SERVICE, AND PRACTICE FOR THE ADVANCEMENT OF THE NURSING PROFESSION.

Program Service Accomplishments

Program 1

Expenses: $1,735,839 Revenue: $2,172,481

THE PURPOSE OF THE LAKEVIEW COLLEGE OF NURSING IS TO EDUCATE INDIVIDUALS IN NURSING

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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 $211,509

Program Service Revenue $2,172,481

Investment Income $558,797

Other Revenue $0

TOTAL REVENUE $2,942,787

Expense Breakdown

Grants Paid $234,660

Salaries & Benefits $1,805,633

Fundraising Expenses $0

Program Expenses $1,735,839

Other Expenses $1,020,029

TOTAL EXPENSES $3,060,322

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,942,787	$3,270,529	-0.1%
Expenses	$3,060,322	$3,620,430	-0.2%
Net Income	$-117,535	$-349,901	-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

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

$178,805

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGIE KOTCHER	BOARD MEMBER	1.00	Director	$0	$0	$0
DIANE BUSS	CHAIR	1.00	Officer Director	$0	$0	$0
JUDD PECK	VICE CHAIR	1.00	Officer Director	$0	$0	$0
LON HENDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM GARRISON	BOARD MEMBER	1.00	Director	$0	$0	$0
SHEILA MINGEE	PRESIDENT	50.00	Officer	$161,988	$16,817	$178,805
BRITTANY LAWSON	DEAN OF NURSING	50.00	Highest	$123,550	$0	$123,550

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	No data	No data	No data	No data
2023	$2,942,787	$3,060,322	$24,700,031	$-117,535
2022	$3,270,529	$3,620,430	$23,112,715	$-349,901
2021	$4,447,785	$3,961,143	$24,035,009	$486,642
2020	$3,713,871	$3,515,701	$22,531,107	$198,170
2019	$3,373,519	$3,506,568	$21,092,641	$-133,049
2018	$3,504,129	$3,545,176	$20,463,323	$-41,047