KETTERING UNIVERSITY

EIN: 382410852 501(c)(3) Education

FLINT, MI

Total Revenue
$104,251,884
Total Expenses
$106,189,826
Total Assets
$275,349,532
Net Assets
$228,469,380
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
MI
Principal Officer
ROBERT K MCMAHAN
Phone
8107629925
Tax Period
2022-07-01 to 2023-06-30

KETTERING UNIVERSITY, founded in 1982, is a major nonprofit in the Education sector that reported $104.3M in total revenue in fiscal year 2022. Net assets of $228.5M represent 26 months of operating reserves.

Mission

THE UNIVERSITY HOLDS A HISTORICAL COLLECTION WITH AN APPROXIMATE VALUE OF $1,200,000 THAT HAS NOT BEEN CAPITALIZED AS ANY PROCEEDS FROM THE SALE OF ITEMS WOULD BE REINVESTED IN THE COLLECTION.

Program Service Accomplishments

Program 1
Expenses: $65,242,270 Revenue: $72,705,078

UNDERGRADUATE INSTRUCTION. DELIVERED 48,651 UNDERGRADUATE STUDENT HOURS OF INSTRUCTION (ONE CREDIT HOUR REPRESENTS 10 HOURS OF INSTRUCTION FOR ONE STUDENT). AWARDED 345 BACCALAUREATE DEGREES IN 14...

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UNDERGRADUATE INSTRUCTION. DELIVERED 48,651 UNDERGRADUATE STUDENT HOURS OF INSTRUCTION (ONE CREDIT HOUR REPRESENTS 10 HOURS OF INSTRUCTION FOR ONE STUDENT). AWARDED 345 BACCALAUREATE DEGREES IN 14 DIFFERENT PROGRAMS.

Program 2
Expenses: $3,216,851 Revenue: $5,584,488

GRADUATE INSTRUCTION. DELIVERED 6,379 GRADUATE STUDENT CREDIT HOUR (ONE CREDIT HOUR REPRESENTS 10 HOURS OF INSTRUCTION FOR ONE STUDENT). AWARDED 167 MASTERS DEGREES IN 8 DIFFERENT PROGRAMS.

Program 3
Expenses: $416,835 Revenue: $416,835

SMALL BUSINESS DEVELOPMENT CENTER 2022 THIS SUBAWARD IS ISSUED BY THE MI-SBDC LEAD CENTER AT GRAND VALLEY STATE UNIVERSITY FOR THE PERFORMANCE FOR A SCOPE OF WORK ORIGINALLY AWARDED TO THE PRIME...

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SMALL BUSINESS DEVELOPMENT CENTER 2022 THIS SUBAWARD IS ISSUED BY THE MI-SBDC LEAD CENTER AT GRAND VALLEY STATE UNIVERSITY FOR THE PERFORMANCE FOR A SCOPE OF WORK ORIGINALLY AWARDED TO THE PRIME RECIPIENT. GVSU IS THE PRIME RECIPIENT OF THE US SMALL BUSINESS ADMINISTRATION (SBA) SMALL BUSINESS DEVELOPMENT CENTER COOPERATIVE AGREEMENT TO ESTABLISH A STATEWIDE NETWORK OF A STATE LEAD CENTER AND SBDC REGIONAL CENTERS. THE REGIONAL CENTER HOUSED AT KETTERING DEVELOPS AND MAINTAINS A COMPREHENSIVE SMALL BUSINESS ASSISTANCE PROGRAM THAT PROVIDES CONSULTING, TRAINING AND RESEARCH SERVICES TO PROMOTE BUSINESS START-UP, INNOVATION AND EXPANSION. ECONOMIC IMPACT SUCCESS IN THIS TIME FRAME: 38 NEW BUSINESS STARTS, 105 NEW JOBS,76 JOBS RETAINED, $5,684,150 IN CAPITAL FORMATION, $345,100 IN INCREASED SALES AND 250 TRAINING ATTENDEES. 31% BUSINESSES OF COLOR, 69% DISADVANTAGED BUSINESSES. SMALL BUSINESS DEVELOPMENT CENTER 2023 THIS SUBAWARD IS ISSUED BY THE MI-SBDC LEAD CENTER AT GRAND VALLEY STATE UNIVERSITY FOR THE PERFORMANCE FOR A SCOPE OF WORK ORIGINALLY AWARDED TO THE PRIME RECIPIENT. GVSU IS THE PRIME RECIPIENT OF THE US SMALL BUSINESS ADMINISTRATION (SBA) SMALL BUSINESS DEVELOPMENT CENTER COOPERATIVE AGREEMENT TO ESTABLISH A STATEWIDE NETWORK OF A STATE LEAD CENTER AND SBDC REGIONAL CENTERS. THE REGIONAL CENTER HOUSED AT KETTERING DEVELOPS AND MAINTAINS A COMPREHENSIVE SMALL BUSINESS ASSISTANCE PROGRAM THAT PROVIDES CONSULTING, TRAINING AND RESEARCH SERVICES TO PROMOTE BUSINESS START-UP, INNOVATION AND EXPANSION. ECONOMIC IMPACT SUCCESS IN THIS TIME FRAME: 46 NEW BUSINESS STARTS, 128 NEW JOBS, 154 JOBS RETAINED, $8,528,750 IN CAPITAL FORMATION, SALES AND 200 TRAINING ATTENDEES.30% BUSINESSES OF COLOR, 68% DISADVANTAGED BUSINESSES. KCP 4S 2022-2023 SELECT STUDENT SUPPORT SERVICES IN OCTOBER, 2022 KETTERING UNIVERSITY BEGAN YEAR 6 OF A SIX-YEAR GRANT FUNDED BY THE STATE OF MICHIGAN DEPARTMENT OF LABOR AND ECONOMIC THROUGH THE KING CHAVEZ PARKS INITIATIVE 4S- SELECT STUDENT SUPPORT SERVICES PROGRAM. THE PROGRAM IS DESIGNED TO DEVELOP ACADEMICALLY OR ECONOMICALLY DISADVANTAGED STUDENT RETENTION PROGRAMS FOR THOSE WHO WOULD OTHERWISE NOT ADEQUATELY BE REPRESENTED IN THE STUDENT POPULATION. CORE OBJECTIVES INCLUDE: . IMPROVE GRADE POINT AVERAGE . ADVANCE CLASS STANDING . ACCEPTED INTO MAJOR . INCREASE GRADUATION

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $17,074,517
Program Service Revenue $83,484,573
Investment Income $3,596,539
Other Revenue $96,255
TOTAL REVENUE $104,251,884

Expense Breakdown

Grants Paid $40,708,175
Salaries & Benefits $36,146,836
Fundraising Expenses $2,242,613
Program Expenses $96,433,026
Other Expenses $29,334,815
TOTAL EXPENSES $106,189,826

Year-over-Year Comparison

2022 2021 Change
Revenue $104,251,884 $108,871,575 0.0%
Expenses $106,189,826 $106,719,699 0.0%
Net Income $-1,937,942 $2,151,876 -1.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
25
Independent Members
24
Employees
870
Volunteers
1000

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
6
$1,839,917
Total Directors
24
$937,565
Key Employees
4
$859,791
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT K MCMAHAN PRESIDENT 80.0
Officer Director
$743,819 $193,746 $937,565
JAMES ZHANG PROVOST 55.0
Officer
$313,941 $47,534 $361,475
THOMAS AYERS TREASURER 55.0
Officer
$302,814 $44,154 $346,968
TRACIE JONES VP ENROLLMENT & CO-OP SERVICES 55.0
Key Emp
$210,223 $23,783 $234,006
KATHRYN SVINARICH ASSOCIATE PROVOST 55.0
Highest
$205,900 $20,857 $226,757
CHRISTINE WALLACE VP. KETTERING GLOBAL 55.0
Key Emp
$183,877 $38,457 $222,334
SCOTT GRASMAN INTERIM DEAN OF COLLEGE OF ENG 55.0
Key Emp
$177,784 $40,089 $217,873
DONALD ROCKWELL UNIVERSITY COUNSEL 55.0
Officer
$166,826 $27,083 $193,909
MICHAEL FARMER DEPT HEAD COMPUTER SCIENCE 55.0
Highest
$150,049 $42,706 $192,755
LB MCCUNE VP STUDENT AFFAIRS 55.0
Key Emp
$158,243 $27,335 $185,578
CRAIG HOFF DEAN OF COLLEGE OF ENGINEERING 55.0
Highest
$147,091 $37,242 $184,333
BASSEM RAMADAN DEPT. HEAD-MECHANICAL ENGINEER 55.0
Highest
$154,440 $21,004 $175,444
JANE HOMSHER SPECIAL ASST. TO THE PRESIDENT 55.0
Highest
$152,480 $22,553 $175,033
CARLA J BAILO BOARD VICE CHAIR 2.0
Officer Director
$0 $0 $0
GERALD JOHNSON BOARD MEMBER 2.0
Director
$0 $0 $0
NORMAN J SZYDLOWSKI BOARD MEMBER 2.0
Director
$0 $0 $0
DIANA D TREMBLAY BOARD MEMBER 2.0
Director
$0 $0 $0
BRUCE D COVENTRY BOARD MEMBER 2.0
Director
$0 $0 $0
CHARLES F KETTERING III BOARD MEMBER 2.0
Director
$0 $0 $0
CHARLES GRAY BOARD MEMBER 2.0
Director
$0 $0 $0
DAVID KAZYAK BOARD MEMBER 2.0
Director
$0 $0 $0
DAVID S HOYTE BOARD MEMBER 2.0
Director
$0 $0 $0
GARY L COWGER BOARD MEMBER 2.0
Director
$0 $0 $0
HENIO R ARCANGELI JR BOARD MEMBER 2.0
Director
$0 $0 $0
JACQUELINE A DEDO BOARD MEMBER 2.0
Director
$0 $0 $0
JANE E BOON BOARD MEMBER 2.0
Director
$0 $0 $0
JEFFREY J OWENS BOARD MEMBER 2.0
Director
$0 $0 $0
JESSE M LOPEZ BOARD SECRETARY 2.0
Director
$0 $0 $0
JOHN W MOYER BOARD MEMBER 2.0
Director
$0 $0 $0
LIZABETH A ARDISANA BOARD MEMBER 4.0
Director
$0 $0 $0
MACHELLE A MCADORY BOARD MEMBER 2.0
Director
$0 $0 $0
MARJORIE SORGE BOARD MEMBER 2.0
Director
$0 $0 $0
PHILLIP C DUTCHER BOARD MEMBER 2.0
Director
$0 $0 $0
RAJ NAIR BOARD MEMBER 2.0
Director
$0 $0 $0
RAYMOND E SCOTT BOARD MEMBER 2.0
Director
$0 $0 $0
WALTER G BORST BOARD CHAIR 2.0
Officer Director
$0 $0 $0
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 $104,251,884 $106,189,826 $275,349,532 $-1,937,942
2022 $108,871,575 $106,719,699 $273,554,260 $2,151,876
2021 $82,356,479 $65,408,533 $281,450,228 $16,947,946
2020 $68,311,980 $69,550,203 $242,847,651 $-1,238,223
2019 $95,676,387 $69,312,194 $221,978,988 $26,364,193
2018 $75,951,870 $67,257,384 $203,265,971 $8,694,486
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