MICHIGAN VIRTUAL UNIVERSITY (EIN 383414105) - 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

1998

Legal Domicile

Principal Officer

JAMEY FITZPATRICK

Phone

5173367733

Tax Period

2024-10-01 to 2025-09-30

MICHIGAN VIRTUAL UNIVERSITY, founded in 1998, is a mid-sized nonprofit in the Education sector that reported $23.8M in total revenue in fiscal year 2024.

Mission

MAXIMIZE LEARNING AND TEACHING BY BRINGING TOGETHER THE BEST IN PEOPLE AND TECHNOLOGY.

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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 $10,321,000

Program Service Revenue $13,094,695

Investment Income $381,693

Other Revenue $22,085

TOTAL REVENUE $23,819,473

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,303,093

Fundraising Expenses $0

Program Expenses $20,220,371

Other Expenses $6,863,982

TOTAL EXPENSES $23,167,075

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,819,473	$24,023,500	0.0%
Expenses	$23,167,075	$22,592,016	+0.0%
Net Income	$652,398	$1,431,484	-0.5%

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

395

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

$632,017

Total Directors

$285,813

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMEY FITZPATRICK	PRESIDENT & CEO	40.00	Officer Director	$241,896	$43,917	$285,813
BRANDY JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN SEVERSON	DIRECTOR	1.00	Director	$0	$0	$0
TIFFANY TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
WENDY ZDEB	DIRECTOR	1.00	Director	$0	$0	$0
CHANDRA MADAFFERI	DIRECTOR	1.00	Director	$0	$0	$0
DAN KIBLAWI	DIRECTOR	1.00	Director	$0	$0	$0
PRENTISS M BROWN	DIRECTOR	1.00	Director	$0	$0	$0
ROSSI RAY-TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RICE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
BRENDAN GUENTHER	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE TEASLEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DARRELL BURKS	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
AMANDA WAGENSCHUTZ	CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN BRODERICK	AUDIT COMMITTEE CHAIR	1.00	Officer Director	$0	$0	$0
JOSEPH R FREIDHOFF	VICE PRESIDENT	40.00	Officer	$183,559	$39,555	$223,114
SARAH COOK	CHIEF FINANCIAL OFFICER	30.00	Officer	$113,209	$9,881	$123,090
RAYMOND BATT	VP OF BUSINESS STRATEGY	40.00	Highest	$198,506	$35,638	$234,144
CHRISTOPHER HARRINGTON	SENIOR DIRECTOR OF OF INNO	40.00	Highest	$124,103	$34,567	$158,670
ALICIA GANAWAY	SENIOR DIRECTOR OF HUMAN R	40.00	Highest	$121,308	$34,563	$155,871
KENNETH DIRKIN	SENIOR DIRECTOR OF MVLRI	40.00	Highest	$131,239	$12,907	$144,146
SCOTT WATKINS	SENIOR DIR. OF BUSINESS STRATEGY	40.00	Highest	$116,187	$32,904	$149,091

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	$23,819,473	$23,167,075	$23,543,081	$652,398
2024	$24,023,500	$22,592,016	$22,107,671	$1,431,484
2023	$21,729,814	$21,774,949	$20,563,781	$-45,135
2022	$24,041,661	$23,507,279	$20,118,001	$534,382
2021	$28,269,387	$22,092,238	$20,049,225	$6,177,149
2020	$18,761,383	$17,691,004	$15,810,047	$1,070,379
2019	$17,241,470	$16,207,578	$11,858,443	$1,033,892
2018	$17,839,655	$18,617,798	$11,202,808	$-778,143

MICHIGAN VIRTUAL UNIVERSITY