PATHWAYS COLLEGE

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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

2015

Legal Domicile

Principal Officer

AERIELL WOODHAMS

Phone

6266833500

Tax Period

2024-07-01 to 2025-06-30

PATHWAYS COLLEGE, founded in 2015, is a small nonprofit in the Education sector that reported $772K in total revenue in fiscal year 2024. Revenue surged 974% from the prior year, signaling strong growth momentum. Expenses of $981K exceeded revenue, resulting in a 27% operating deficit.

Mission

TO ESTABLISH, MAINTAIN, AND OPERATE A NONPROFIT COLLEGE, WHEREIN THE STUDY OF ARTS, SCIENCES, LITERATURE, MATHEMATICS, LIBERAL STUDIES AND RELATED SUBJECTS MAY BE TAUGHT, AND ADVANCED DEGREES GRANTED ACCORDING TO COURSES OF STUDY APPROVED BY THE BOARD OF DIRECTORS, AND SUCH OTHER ACTIVITIES THAT ARE IN FURTHERANCE OF THE EDUCATIONAL PURPOSES OF THE CORPORATION.

Program Service Accomplishments

Program 1

Expenses: $896,453 Revenue: $388,724

STUDY OF ARTS, SCIENCES, LITERATURE, MATHEMATICS, LIBERAL STUDIES AND TO ESTABLISH, MAINTAIN, AND OPERATE A NONPROFIT COLLEGE, WHEREIN THE RELATED SUBJECTS MAY BE TAUGHT, AND ADVANCED DEGREES...

STUDY OF ARTS, SCIENCES, LITERATURE, MATHEMATICS, LIBERAL STUDIES AND TO ESTABLISH, MAINTAIN, AND OPERATE A NONPROFIT COLLEGE, WHEREIN THE RELATED SUBJECTS MAY BE TAUGHT, AND ADVANCED DEGREES GRANTED, ACCORDING TO COURSES OF STUDY APPROVED BY THE BOARD OF DIRECTORS, AND SUCH OTHERACTIVITIES THAT ARE IN FURTHERANCE OF THE EDUCATIONAL PURPOSES OF THE CORPORATION.

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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 $336,192

Program Service Revenue $388,724

Investment Income $46,776

Other Revenue $0

TOTAL REVENUE $771,692

Expense Breakdown

Grants Paid $336,192

Salaries & Benefits $328,147

Fundraising Expenses $0

Program Expenses $896,453

Other Expenses $316,613

TOTAL EXPENSES $980,952

Year-over-Year Comparison

	2024	2023	Change
Revenue	$771,692	$71,819	+9.7%
Expenses	$980,952	$599,705	+0.6%
Net Income	$-209,260	$-527,886	-0.6%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AERIELL WOODHAMS	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
SANTARVIS BROWN	BOARD DIRECTOR	1.00	Director	$0	$0	$0
FRANK COVALESKIE	BOARD DIRECTOR	1.00	Director	$0	$0	$0
JULIE GREEN	BOARD DIRECTOR	1.00	Director	$0	$0	$0
JIM GRIFFIN	BOARD DIRECTOR	1.00	Director	$0	$0	$0
NORBERT KREUZER	BOARD DIRECTOR	1.00	Director	$0	$0	$0
KARIN NEWLIN	BOARD DIRECTOR	1.00	Director	$0	$0	$0
AARON PRICE	BOARD DIRECTOR	1.00	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	$771,692	$980,952	$1,532,473	$-209,260
2024	No data	No data	No data	No data
2023	$35,419	$707,259	$2,028,255	$-671,840
2022	$373,618	$812,563	$2,599,411	$-438,945
2021	$3,705,567	$834,914	$3,146,340	$2,870,653
2020	$2,031,349	$593,832	$289,046	$1,437,517
2019	$15,700	$581,748	$91,676	$-566,048
2018	$22,676	$466,968	$590,454	$-444,292