KALAMAZOO COLLEGE (EIN 381358014) - 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

1833

Legal Domicile

Phone

2693377000

Tax Period

2024-07-01 to 2025-06-30

KALAMAZOO COLLEGE, founded in 1833, is a major nonprofit in the Education sector that reported $122.0M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Net assets of $407.9M represent 40 months of operating reserves.

Mission

THE MISSION OF KALAMAZOO COLLEGE IS TO PREPARE ITS GRADUATES TO BETTER UNDERSTAND, LIVE SUCCESSFULLY WITHIN, AND PROVIDE ENLIGHTENED LEADERSHIP TO A RICHLY DIVERSE AND INCREASINGLY COMPLEX WORLD.

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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 $18,802,551

Program Service Revenue $92,765,925

Investment Income $10,156,843

Other Revenue $322,216

TOTAL REVENUE $122,047,535

Expense Breakdown

Grants Paid $58,559,164

Salaries & Benefits $38,640,522

Fundraising Expenses $3,330,007

Program Expenses $107,054,138

Other Expenses $33,690,006

TOTAL EXPENSES $130,889,692

Year-over-Year Comparison

	2024	2023	Change
Revenue	$122,047,535	$143,100,282	-0.1%
Expenses	$130,889,692	$128,573,143	+0.0%
Net Income	$-8,842,157	$14,527,139	-1.6%

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

1332

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

$1,922,578

Total Directors

$539,744

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY S COURTER	SECRETARY	2.0	Officer Director	$0	$0	$0
HANS P MOREFIELD	TREASURER	2.0	Officer Director	$0	$0	$0
JODY L CLARK	CHAIR	2.0	Officer Director	$0	$0	$0
JORGE G GONZALEZ	PRESIDENT	40.0	Officer Director	$489,099	$50,645	$539,744
TERESA L KLINE	VICE-CHAIR	2.0	Officer Director	$0	$0	$0
AMANDA GARCIA WILLIAMS	TRUSTEE	2.0	Director	$0	$0	$0
AMY E UPJOHN	TRUSTEE	2.0	Director	$0	$0	$0
BILL MANNS	TRUSTEE	2.0	Director	$0	$0	$0
CHARLOTTE H HALL	TRUSTEE	2.0	Director	$0	$0	$0
CHRISTINE C BODUROW	TRUSTEE	2.0	Director	$0	$0	$0
CHRISTOPHER P REYNOLDS	TRUSTEE	2.0	Director	$0	$0	$0
CHRISTOPHER U LIGHT	TRUSTEE	2.0	Director	$0	$0	$0
DONALD L HAFNER	TRUSTEE	2.0	Director	$0	$0	$0
DONALD R PARFET	TRUSTEE	2.0	Director	$0	$0	$0
EDWIN R HORTELANO	TRUSTEE	2.0	Director	$0	$0	$0
ELIZABETH FIATOR	TRUSTEE	2.0	Director	$0	$0	$0
EMILY RICHARDSON ROSSBACH	TRUSTEE	2.0	Director	$0	$0	$0
GAIL A RAIMAN	TRUSTEE	2.0	Director	$0	$0	$0
JOANN CHAVEZ	TRUSTEE	2.0	Director	$0	$0	$0
JOHN P CLARK	TRUSTEE	2.0	Director	$0	$0	$0
JON L STRYKER	TRUSTEE	2.0	Director	$0	$0	$0
JOSEPH FORRESTER	TRUSTEE	2.0	Director	$0	$0	$0
KEVIN JAWAHIR	TRUSTEE	2.0	Director	$0	$0	$0
M ELIZABETH ELIZABETH WASHINGTON	TRUSTEE	2.0	Director	$0	$0	$0
MARTHA CAMPBELL	TRUSTEE	2.0	Director	$0	$0	$0
MARY BETH SARHATT	TRUSTEE	2.0	Director	$0	$0	$0
MICHELLE Y FANROY	TRUSTEE	2.0	Director	$0	$0	$0
ROBERT J KOPECKY	TRUSTEE	2.0	Director	$0	$0	$0
S SI JOHNSON	TRUSTEE	2.0	Director	$0	$0	$0
WILL GUEDES	TRUSTEE	2.0	Director	$0	$0	$0
WILLIAM R STOERI	TRUSTEE	2.0	Director	$0	$0	$0
YOUNG-JIN L HENNIG	TRUSTEE	2.0	Director	$0	$0	$0
DANETTE JOHNSON	PROVOST	40.0	Officer	$213,506	$42,867	$256,373
J MALCOLM SMITH	VP FOR STUDENT DEVELOPMENT	40.0	Officer	$196,548	$41,779	$238,327
KAREN ISBLE	VP COLLEGE ADVANCEMENT	40.0	Officer	$251,987	$45,601	$297,588
LISA VANDEWEERT	VP FOR BUSINESS AND FINANCE, ASSISTANT TREASURER	40.0	Officer	$232,660	$41,834	$274,494
MIKKA DRYER	ASSISTANT AND SECRETARY TO BOARD	40.0	Officer	$76,589	$22,929	$99,518
MJ HUEBNER	VP ADMISSION AND FINANCIAL AID	40.0	Officer	$191,977	$24,557	$216,534
Andy Miller	Associate Vice President for Development	40.0	Highest	$145,433	$13,247	$158,680
James Zorbo	Athletic Director and Head Football Coach	40.0	Highest	$133,409	$11,533	$144,942
Peter Erdi	Luce Professor of Complex Systems Studies	40.0	Highest	$137,553	$32,329	$169,882
Susan Lindemann	Associate Vice President for Facilities Management	40.0	Highest	$127,307	$28,727	$156,034
Todd Watson	Associate Vice President & Chief Info. Officer	40.0	Highest	$148,611	$38,631	$187,242

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	$122,047,535	$130,889,692	$509,516,481	$-8,842,157
2024	$143,100,282	$128,573,143	$450,305,910	$14,527,139
2023	$123,279,200	$119,290,380	$413,740,172	$3,988,820
2022	$129,775,982	$109,921,197	$399,538,213	$19,854,785
2021	$112,551,659	$100,250,670	$451,245,580	$12,300,989
2020	$96,754,584	$106,941,639	$383,146,506	$-10,187,055
2019	$96,560,357	$103,722,466	$387,566,756	$-7,162,109
2018	$127,459,506	$98,371,296	$376,942,796	$29,088,210

KALAMAZOO COLLEGE