HILLSDALE, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HILLSDALE COLLEGE, founded in 1844, is a major nonprofit in the Education sector that reported $394.2M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $123.4M, a strong 31% operating margin.
HILLSDALE COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE WITH APPROXIMATELY 1,500 STUDENTS. FOUNDED IN 1844, THE COLLEGE REMAINS, IN THE WORDS OF ITS ARTICLES OF ASSOCIATION, "GRATEFUL TO GOD FOR THE INESTIMABLE BLESSINGS RESULTING FROM THE PREVALENCE OF CIVIL AND RELIGIOUS LIBERTY AND INTELLIGENT PIETY" IN OUR NATION, AND DEDICATED TO "THE DIFFUSION OF SOUND LEARNING" THAT IS "ESSENTIAL TO THE PERPETUITY OF THESE BLESSINGS."
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $394,153,037 | $320,784,822 | +0.2% |
| Expenses | $270,721,431 | $248,527,191 | +0.1% |
| Net Income | $123,431,606 | $72,257,631 | +0.7% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| LARRY P ARNN | PRESIDENT | 40.00 |
Officer
Director
|
$1,157,118 | $133,939 | $1,291,057 |
| PATRICK L SAJAK | CHAIRMAN OF THE BOARD | 4.50 |
Officer
Director
|
$0 | $0 | $0 |
| STEPHEN A VAN ANDEL | VICE CHAIRMAN OF THE BOARD | 4.50 |
Officer
Director
|
$0 | $0 | $0 |
| WILLIAM J BRODBECK | TRUSTEE, CHAIRMAN EMERITUS | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| ALICE H HANLEY | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| BRUCE C SANBORN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| BRIAN S WESBURY | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CHARLES S MCINTYRE III | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CHRIS CHOCOLA | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CHRISTOPHER F BACHELDER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CLEVES R DELP | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DANIEL S PETERS | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID A DURELL | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID R HOUGH | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DONNA R ECTON | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| GREGORY C SCHULER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JAMES J MEEKS | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JEFFREY H COORS | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JESSICA A FAUBERT | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| KURT D GRINDSTAFF | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MARK L JOHNSON | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| NENA C MOSS | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| NERSI H NAZARI | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| R MARK HAMLIN JR | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| RICHARD E HUNTER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| RONALD C NOLAN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| RONALD D ROBSON | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| S GUNNAR KLARR | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| THOMAS N JORDAN JR | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| THOMAS C SHAFER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| TOBIAS W BUCK | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| WAYNE R NELSON | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| WILLIAM A NOLAN III | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| WILLIAM L FRAIM | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| RICHARD P PEWE | VP OF ADMIN. AFFAIRS & SECRETARY | 40.00 |
Officer
|
$290,110 | $89,463 | $379,573 |
| PATRICK H FLANNERY | VP FOR FINANCE & TREASURER | 40.00 |
Officer
|
$239,283 | $77,170 | $316,453 |
| JOHN CERVINI | VP FOR INST. ADVANCEMENT | 40.00 |
Key Emp
|
$492,021 | $120,629 | $612,650 |
| CHRISTOPHER VAN ORMAN | PROVOST | 40.00 |
Key Emp
|
$319,797 | $78,526 | $398,323 |
| ROBERT NORTON | VP & GENERAL COUNSEL | 40.00 |
Key Emp
|
$345,081 | $92,428 | $437,509 |
| BILL GRAY | VP OF MARKETING | 40.00 |
Key Emp
|
$280,965 | $72,900 | $353,865 |
| MATTHEW SPALDING | VP FOR DC OPS & DEAN OF VASOG | 40.00 |
Highest
|
$336,644 | $93,371 | $430,015 |
| DOUG BANBURY | VP FOR ADMISSIONS & BUS DEVELOPMENT | 40.00 |
Highest
|
$266,952 | $89,983 | $356,935 |
| MATT SCHLIENTZ | ASSOCIATE VP OF PROGRAMS | 40.00 |
Highest
|
$281,284 | $78,104 | $359,388 |
| DAVID WHALEN | ASSOCIATE VP FOR CURRICULUM | 40.00 |
Highest
|
$261,505 | $71,279 | $332,784 |
| JUDY DUKE | CONSULTANT FOR MAJOR GIFTS | 40.00 |
Highest
|
$277,077 | $67,783 | $344,860 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $394,153,037 | $270,721,431 | $2,045,865,706 | $123,431,606 |
| 2023 | $320,784,822 | $248,527,191 | $1,871,625,743 | $72,257,631 |
| 2022 | $366,213,645 | $214,265,709 | $1,719,356,126 | $151,947,936 |
| 2021 | $367,996,683 | $191,767,397 | $1,709,684,271 | $176,229,286 |
| 2020 | $287,422,849 | $172,808,580 | $1,230,310,896 | $114,614,269 |
| 2019 | $210,643,421 | $166,228,751 | $1,163,398,369 | $44,414,670 |
| 2018 | $219,356,427 | $151,999,759 | $1,119,189,218 | $67,356,668 |
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