COLLEGE FOR CREATIVE STUDIES

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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

1906

Legal Domicile

Principal Officer

DONALD TUSKI

Phone

3136647440

Tax Period

2023-07-01 to 2024-06-30

COLLEGE FOR CREATIVE STUDIES, founded in 1906, is a mid-sized nonprofit in the Education sector that reported $91.3M in total revenue in fiscal year 2023. Net assets of $221.9M represent 29 months of operating reserves.

Mission

THE COLLEGE FOR CREATIVE STUDIES NURTURES THE CREATIVITY THAT IS VITAL TO THE ENRICHMENT OF MODERN CULTURE. THE COLLEGE EDUCATES VISUAL ARTISTS AND DESIGNERS, KNOWLEDGEABLE IN VARIED FIELDS, WHO WILL BE LEADERS IN CREATIVE PROFESSIONS THAT SHAPE SOCIETY AND ADVANCE ECONOMIC GROWTH. THE COLLEGE FOSTERS STUDENTS' RESOLVE TO PURSUE EXCELLENCE, ACT ETHICALLY, EMBRACE THEIR RESPONSIBILITIES AS CITIZENS OF DIVERSE LOCAL AND GLOBAL COMMUNITIES, AND LEARN THROUGHOUT THEIR LIVES. THE COLLEGE ENGAGES IN COMMUNITY SERVICE BY OFFERING OPPORTUNITIES FOR ARTISTIC DEVELOPMENT AND OPENING CAREER PATHWAYS TO TALENTED INDIVIDUALS OF ALL AGES.

Program Service Accomplishments

Program 1

Expenses: $69,822,725 Revenue: $71,406,957

COLLEGE LEVEL ENVIRONMENT IN ART AND DESIGN. AVERAGE ENROLLMENT WAS 1313 IN DEGREE SEEKING PROGRAMS AND 365 IN CONTINUING EDUCATION.

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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 $11,008,180

Program Service Revenue $65,898,010

Investment Income $3,290,164

Other Revenue $11,061,080

TOTAL REVENUE $91,257,434

Expense Breakdown

Grants Paid $36,817,764

Salaries & Benefits $31,022,691

Fundraising Expenses $1,141,648

Program Expenses $69,822,725

Other Expenses $30,018,852

TOTAL EXPENSES $97,859,307

Year-over-Year Comparison

	2023	2022	Change
Revenue	$91,257,434	$94,517,851	0.0%
Expenses	$97,859,307	$97,263,798	+0.0%
Net Income	$-6,601,873	$-2,745,947	+1.4%

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

1127

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

$1,394,832

Total Directors

$393,350

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD L TUSKI PHD	PRESIDENT	40.00	Officer Director	$377,180	$16,170	$393,350
JAMES M NICHOLSON	CHAIRMAN	0.30	Officer Director	$0	$0	$0
LYNN F ALANDT	VICE CHAIRMAN	0.30	Officer Director	$0	$0	$0
JAMES H VANDENBERGHE	TREASURER	0.30	Officer Director	$0	$0	$0
RALPH GILLES	SECRETARY	0.30	Officer Director	$0	$0	$0
ROBERT H BLUESTEIN	TRUSTEE	0.30	Director	$0	$0	$0
THOMAS BUHL	TRUSTEE	0.30	Director	$0	$0	$0
DARRELL BURKS	TRUSTEE	0.30	Director	$0	$0	$0
MORAY CALLUM	TRUSTEE	0.30	Director	$0	$0	$0
FRANK CAMPANALE	TRUSTEE	0.30	Director	$0	$0	$0
THOMAS CELANI	TRUSTEE	0.30	Director	$0	$0	$0
LOIS P COHN	TRUSTEE	0.30	Director	$0	$0	$0
KC CRAIN	TRUSTEE	0.30	Director	$0	$0	$0
MATT CULLEN	TRUSTEE	0.30	Director	$0	$0	$0
STEVE DAVIS	TRUSTEE	0.30	Director	$0	$0	$0
LINDA DRESNER	TRUSTEE	0.30	Director	$0	$0	$0
MARLA DRUTZ	TRUSTEE	0.30	Director	$0	$0	$0
NICOLE EISENBERG	TRUSTEE	0.30	Director	$0	$0	$0
ALBURN H ELVIN JR	TRUSTEE	0.30	Director	$0	$0	$0
NATHAN M FORBES	TRUSTEE	0.30	Director	$0	$0	$0
PAIGE RAKOLTA FRISCH	TRUSTEE	0.30	Director	$0	$0	$0
DAVID M HEMPSTEAD	TRUSTEE	0.30	Director	$0	$0	$0
JODY INGLE III	TRUSTEE	0.30	Director	$0	$0	$0
DANIALLE KARMANOS	TRUSTEE	0.30	Director	$0	$0	$0
DON MANVEL	TRUSTEE	0.30	Director	$0	$0	$0
LISA MATERAZZO	TRUSTEE	0.30	Director	$0	$0	$0
WILLIAM PARFET	TRUSTEE	0.30	Director	$0	$0	$0
STEPHEN R POLK	TRUSTEE	0.30	Director	$0	$0	$0
WALTRAUD E PRECHTER	TRUSTEE	0.30	Director	$0	$0	$0
SYDNEY L ROSS	TRUSTEE	0.30	Director	$0	$0	$0
MICHAEL SIMCOE	TRUSTEE	0.30	Director	$0	$0	$0
WILLIAM S TAUBMAN	TRUSTEE	0.30	Director	$0	$0	$0
MAUREEN MOLLY P VALADE	TRUSTEE	0.30	Director	$0	$0	$0
TJ WINFREY	TRUSTEE	0.30	Director	$0	$0	$0
TIMOTHY FLATTERY	PROVOST	40.00	Officer	$259,333	$17,692	$277,025
TERESA LAREAU	VP OF INSTITUTIONAL ADVANC	40.00	Officer	$242,469	$35,720	$278,189
KERRI MCKAY	VP OF FINANCE	40.00	Officer	$233,576	$7,890	$241,466
OLGA STELLA	VP OF STRATEGY & COMMUNICA	40.00	Officer	$175,948	$28,854	$204,802
GREG FRASER	CHIEF INFORMATION OFFICER	40.00	Highest	$204,163	$25,980	$230,143
IAN LAMBERT	DEAN OF GRADUATE STUDIES	40.00	Highest	$190,848	$12,525	$203,373
PAUL SNYDER	CHAIR OF TRANSPORTATION DESIGN	40.00	Highest	$188,266	$33,799	$222,065
CHRISTINA DEROOS	DIRECTOR KRESGE ARTS IN DETROIT	40.00	Highest	$186,257	$24,584	$210,841
CARLA GONZALEZ	DEAN OF ENROLLMENT	40.00	Highest	$178,228	$13,390	$191,618

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	$91,257,434	$97,859,307	$263,605,125	$-6,601,873
2023	$94,517,851	$97,263,798	$271,661,547	$-2,745,947
2022	$100,598,734	$95,101,605	$273,316,245	$5,497,129
2021	$84,173,161	$83,423,619	$285,566,595	$749,542
2020	$81,212,922	$84,949,645	$255,607,237	$-3,736,723
2019	$84,248,155	$82,794,041	$260,715,547	$1,454,114
2018	$77,031,368	$77,252,716	$261,475,783	$-221,348