DAVENPORT UNIVERSITY FOUNDATION

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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

1982

Legal Domicile

Principal Officer

ANTHONY ANDERSON

Phone

6164513511

Tax Period

2024-07-01 to 2025-06-30

DAVENPORT UNIVERSITY FOUNDATION, founded in 1982, is a community nonprofit in the Education sector that reported $3.8M in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $3.4M left a modest 8% surplus.

Mission

TO SECURE FINANCIAL SUPPORT FOR THE PURPOSE OF GROWING THE UNIVERSITY FOUNDATION ENDOWMENT, STUDENT SCHOLARSHIPS, AND THE DEVELOPMENT OF NEEDED PROGRAMS AND CAPITAL PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $3,244,693

PROVIDED SUPPORT TO ASSIST DAVENPORT UNIVERSITY IN THE ACCOMPLISHMENT OF ITS EDUCATIONAL OBJECTIVES, INCLUDING THE FUNDING OF PROGRAMS, THE MAKING OF GRANTS TO THE UNIVERSITY, THE FUNDING OF...

PROVIDED SUPPORT TO ASSIST DAVENPORT UNIVERSITY IN THE ACCOMPLISHMENT OF ITS EDUCATIONAL OBJECTIVES, INCLUDING THE FUNDING OF PROGRAMS, THE MAKING OF GRANTS TO THE UNIVERSITY, THE FUNDING OF SCHOLARSHIPS, AND OTHER SUPPORTING ACTIVITIES.

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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 $1,360,109

Program Service Revenue $0

Investment Income $2,638,135

Other Revenue $-247,150

TOTAL REVENUE $3,751,094

Expense Breakdown

Grants Paid $3,244,693

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,244,693

Other Expenses $200,787

TOTAL EXPENSES $3,445,480

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,751,094	$2,672,537	+0.4%
Expenses	$3,445,480	$3,056,491	+0.1%
Net Income	$305,614	$-383,954	-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

Employees

N/A

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

$365,570

Total Directors

$1,184,189

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM LETTINGA	PRESIDENT	1.00	Officer Director	$0	$0	$0
RACHEL MRAZ	TREASURER	1.00	Officer Director	$0	$0	$0
JAMES ALBERS	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY ANDERSON	TRUSTEE	1.00	Director	$0	$83,006	$383,206
CHAD BASSETT	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT GEERLINGS	TRUSTEE	1.00	Director	$0	$0	$0
JEFF LUMPP	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD PAPPAS	TRUSTEE	1.00	Director	$0	$225,875	$800,983
RALPH SLIDER	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY ZYLSTRA	TRUSTEE	1.00	Director	$0	$0	$0
RACHEL RENDER	EXECUTIVE DIRECTOR/SECRETARY	1.00	Officer	$0	$106,731	$365,570
DAVID VENEKLASE	FORMER INTERIM TREASURER/SECRETARY/EVP FOR FINANCE	0.00		$0	$0	$1,089,454

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	$3,751,094	$3,445,480	$38,168,900	$305,614
2024	$2,672,537	$3,056,491	$37,121,266	$-383,954
2023	$2,423,738	$5,062,254	$34,936,508	$-2,638,516
2022	$6,158,659	$1,715,428	$36,303,700	$4,443,231
2021	$4,144,742	$1,255,478	$38,322,868	$2,889,264
2020	$2,369,564	$1,552,045	$32,713,129	$817,519
2019	$1,912,889	$1,641,377	$32,275,058	$271,512
2018	$3,870,237	$1,401,675	$31,623,123	$2,468,562