GREAT LAKES COLLEGES ASSOCIATION INC (EIN 381678376) - 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

1962

Legal Domicile

Principal Officer

MICHAEL MCDONALD

Phone

7347614833

Tax Period

2022-07-01 to 2023-06-30

GREAT LAKES COLLEGES ASSOCIATION INC, founded in 1962, is a community nonprofit in the Education sector that reported $1.8M in total revenue in fiscal year 2022. Revenue decreased 14% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 17% operating deficit.

Mission

IN GENERAL TO PROMOTE AND CARRY ON OBJECTIVES EXCLUSIVELY OF A CHARITABLE, SCIENTIFIC, OR EDUCATIONAL NATURE, AND IN PARTICULAR, TO PROMOTE THE EDUCATIONAL ADVANCEMENT AND THE ADMINISTRATIVE EFFICIENCY OF THE MEMBER INSTITUTIONS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $54,134

Program Service Revenue $956,874

Investment Income $766,290

Other Revenue $20,400

TOTAL REVENUE $1,797,698

Expense Breakdown

Grants Paid $600,117

Salaries & Benefits $871,258

Fundraising Expenses $3,018

Program Expenses $1,733,395

Other Expenses $639,180

TOTAL EXPENSES $2,110,555

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,797,698	$2,082,213	-0.1%
Expenses	$2,110,555	$1,687,350	+0.3%
Net Income	$-312,857	$394,863	-1.8%

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

N/A

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

$2,764,686

Total Directors

$6,214,867

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINBERG	CHAIR	0.50	Officer Director	$0	$346,508	$1,038,791
JORGE GONZALEZ	VICE CHAIR	0.50	Officer Director	$0	$63,822	$524,354
LORI WHITE	BOARD MEMBER	0.50	Director	$0	$148,724	$689,437
CARMEN AMBAR	BOARD MEMBER	0.50	Director	$0	$86,683	$633,548
SCOTT FELLER	BOARD MEMBER	0.50	Director	$0	$44,778	$560,473
ROCK JONES	PAST CHAIR	0.50	Officer Director	$0	$90,844	$432,492
MATTHEW SCOGEN	BOARD MEMBER	0.50	Director	$0	$80,423	$334,807
ANNE HOUTMAN	SECRETARY/TREASURER	0.50	Officer Director	$0	$46,873	$318,122
JANE FERNANDES	BOARD MEMBER	0.50	Director	$0	$8,408	$308,408
JOE CALVARUSO	BOARD MEMBER	0.50	Director	$0	$0	$343,286
JEFF BOWMAN	BOARD MEMBER	0.50	Director	$0	$40,527	$322,438
WAYNE WEBSTER	BOARD MEMBER	0.50	Director	$0	$55,775	$364,827
RON COLE	BOARD MEMBER	0.50	Director	$0	$84,529	$343,884
MICHAEL MCDONALD	PRESIDENT	40.00	Officer	$249,675	$24,968	$274,643
DEREK VAUGHAN	VICE PRESIDENT	40.00	Officer	$160,258	$16,026	$176,284
SIMON GRAY	SENIOR PROGRAM OFFICER	40.00	Highest	$114,647	$11,465	$126,112

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	$1,797,698	$2,110,555	$18,321,840	$-312,857
2022	$2,082,213	$1,687,350	$17,883,488	$394,863
2021	$2,158,041	$1,543,116	$22,324,186	$614,925
2020	$1,817,173	$2,356,758	$18,046,287	$-539,585
2019	$1,679,462	$2,796,810	$18,797,488	$-1,117,348
2018	$2,062,353	$3,077,177	$19,901,812	$-1,014,824

GREAT LAKES COLLEGES ASSOCIATION INC