THE MEDICAL COLLEGE OF WISCONSIN INC (EIN 390806261) - 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

1918

Legal Domicile

Principal Officer

JOHN R RAYMOND SR MD

Phone

4149558665

Tax Period

2024-07-01 to 2025-06-30

THE MEDICAL COLLEGE OF WISCONSIN INC, founded in 1918, is a large national nonprofit in the Education sector that reported $1.8B in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.7B left a modest 4% surplus.

Mission

THE MEDICAL COLLEGE OF WISCONSIN (MCW) IS A DISTINGUISHED LEADER AND INNOVATOR IN THE EDUCATION AND DEVELOPMENT OF THE NEXT GENERATION OF PHYSICIANS, (CONTINUED IN SCHEDULE O)

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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 $226,082,409

Program Service Revenue $1,399,529,898

Investment Income $128,610,509

Other Revenue $4,111,323

TOTAL REVENUE $1,758,334,139

Expense Breakdown

Grants Paid $65,670,189

Salaries & Benefits $1,296,679,542

Fundraising Expenses $8,129,022

Program Expenses $1,547,551,402

Other Expenses $319,926,669

TOTAL EXPENSES $1,682,301,948

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,758,334,139	$1,607,441,142	+0.1%
Expenses	$1,682,301,948	$1,584,630,058	+0.1%
Net Income	$76,032,191	$22,811,084	+2.3%

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

8196

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

$15,376,915

Total Directors

$5,491,513

Key Employees

$1,769,178

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAX C LEE MD	ASST PROF-NEUROSURGERY	40.0	Highest	$2,518,112	$62,894	$2,581,006
MICHAEL EDWARD MITCHELL MD	CHIEF, PROF-PED CARDIAC SURG	1.0	Highest	$1,951,025	$64,441	$2,015,466
JOHN R RAYMOND SR MD	TRUSTEE/PRESIDENT AND CEO	40.0	Officer Director	$1,637,184	$310,119	$1,947,303
SAMAN SHABANI MD	ASST PROF-NEUROSURGERY	40.0	Highest	$1,872,699	$68,180	$1,940,879
ABDEL ALQWASMI MD	PHYSICIAN-HEMATOLOGY/ONCOLOGY	40.0	Highest	$1,808,484	$68,163	$1,876,647
JOSEPH E KERSCHNER MD	SEE SCHEDULE O FOR TITLE	39.5	Officer Director	$1,583,187	$193,612	$1,776,799
MATTHEW COOPER MD	CHIEF, PROF-TRANSPLANT SURGERY	40.0	Highest	$1,523,101	$64,441	$1,587,542
DAVID KING MD	TRUSTEE	40.0	Director	$1,190,917	$61,180	$1,252,097
MATTHEW LESTER	EXEC VP-FINANCE & ADMIN, COO	40.0	Officer	$859,882	$150,396	$1,010,278
DEBORAH M COSTAKOS MD	SEE SCHEDULE O FOR TITLE	35.0	Officer	$858,747	$51,887	$910,634
CHERYL A MAURANA PHD	SEE SCHEDULE O FOR TITLE	40.0	Officer	$757,864	$90,790	$848,654
M AILEEN SHINAMAN JD	SR VP-GENERAL COUNSEL/ASST SEC	40.0	Officer	$679,078	$69,119	$748,197
MARA LORD PHD	SR VP-CHF STRATEGY & GRWTH OFF	40.0	Officer	$616,416	$112,056	$728,472
SHELISA DALTON	CHIEF FINANCIAL OFFICER	40.0	Officer	$589,325	$113,035	$702,360
DAVID A MARGOLIS MD	SEE SCHEDULE O FOR TITLE	30.0	Key Emp	$632,913	$54,769	$687,682
ADRIENNE MITCHELL	SR VP-HR, CHIEF PEOPLE OFFICER	40.0	Officer	$542,368	$122,114	$664,482
KEVIN R REGNER MD	SEE SCHEDULE O FOR TITLE	40.0	Key Emp	$546,960	$48,472	$595,432
DAVID HOTCHKISS	VP-INFORMATION SERVICES, CIO	40.0	Officer	$465,702	$105,678	$571,380
JASON E KRAISS	VP-INST ADVANCEMENT, CDO	40.0	Officer	$448,637	$101,106	$549,743
GREGORY M WESLEY JD	SEE SCHEDULE O FOR TITLE	40.0	Officer	$457,558	$64,820	$522,378
CURT D SIGMUND PHD	TRUSTEE	40.0	Director	$463,687	$51,627	$515,314
ROY L SILVERSTEIN MD	SEE SCHEDULE O FOR TITLE	40.0	Key Emp	$432,359	$53,705	$486,064
KEVIN M EIDE	VP-FIN PLANNING/DATA ANALYTICS	40.0	Officer	$374,496	$96,135	$470,631
PAMELA J STANICK	VP-FINANCE & TREASURY	40.0	Officer	$372,586	$72,540	$445,126
TENNILLE SIFUENTES	VP-CORP COMPLIANCE/RISK MGT	40.0	Officer	$334,354	$95,022	$429,376
JEFFREY BORNEMANN	VP-FACILITIES & OP TO 3/2/25	40.0	Officer	$339,891	$89,352	$429,243
GEORGE MACKINNON III PHD	DEAN, SCHOOL OF PHARMACY	40.0	Officer	$371,682	$56,117	$427,799
SUSAN MELCHER	VP-TOTAL REWARDS/HR ANALYTICS	40.0	Officer	$346,708	$69,438	$416,146
C GREER JORDAN PHD	VP-ANCHOR PARTNERSHIPS	40.0	Officer	$335,642	$69,984	$405,626
DAISY SAHOO PHD	DEAN, SCHOOL OF GRAD STUDIES	40.0	Officer	$339,099	$62,456	$401,555
NATHAN BERKEN	VP-GOVERNMENT RELATIONS	40.0	Officer	$268,773	$88,749	$357,522
KIMARA ELLEFSON	FORMER INTERIM VP-HR	40.0		$288,454	$52,717	$341,171
MARY REINKE	VP-MARKETING & COMMUNICATIONS	40.0	Officer	$268,622	$45,217	$313,839
JENNIFER S BULTMAN	SEE SCHEDULE O FOR TITLE	40.0	Officer	$243,548	$55,824	$299,372
RAVINDRA P MISRA PHD	FMR DEAN, SCHOOL OF GRAD STUD	40.0		$212,683	$31,746	$244,429
JOHN T NEWSOME JD	FMR SR VP-GEN COUNSEL/ASST SEC	10.0		$140,563	$0	$140,563
ELIZABETH BRENNER	TRUSTEE/CHAIR	3.0	Officer Director	$0	$0	$0
PHILIP B FLYNN	TRUSTEE/IMMEDIATE PAST CHAIR	1.0	Officer Director	$0	$0	$0
JOHN DONOFRIO	TRUSTEE/VICE CHAIR	2.0	Officer Director	$0	$0	$0
JACQUELINE HERD-BARBER	TRUSTEE/SECRETARY	1.0	Officer Director	$0	$0	$0
JON D HAMMES	TRUSTEE/TREASURER	1.0	Officer Director	$0	$0	$0
CHRISTY L BROWN	TRUSTEE	1.0	Director	$0	$0	$0
BARBARA CALKINS MD	TRUSTEE	1.0	Director	$0	$0	$0
LINDA G GORENS-LEVEY	TRUSTEE	1.0	Director	$0	$0	$0
PAUL W GRIEPENTROG	TRUSTEE	1.0	Director	$0	$0	$0
JOHN M GROGAN	TRUSTEE	1.0	Director	$0	$0	$0
NANCY HERNANDEZ	TRUSTEE	1.0	Director	$0	$0	$0
TED D KELLNER	TRUSTEE	1.0	Director	$0	$0	$0
DAVID LUBAR	TRUSTEE	1.0	Director	$0	$0	$0
GREGORY S MARCUS	TRUSTEE	1.0	Director	$0	$0	$0
ANTHONY MCHENRY	TRUSTEE	1.0	Director	$0	$0	$0
CHRIS MISKEL	TRUSTEE	1.0	Director	$0	$0	$0
JUSTIN L MORTARA PHD	TRUSTEE	1.0	Director	$0	$0	$0
JANIS M ORLOWSKI MD	TRUSTEE	1.0	Director	$0	$0	$0
GIL PERI	TRUSTEE AS OF 8/12/24	1.0	Director	$0	$0	$0
WARREN D PIERSON	TRUSTEE	1.0	Director	$0	$0	$0
R JAN PIROZZOLO-MELLOWES	TRUSTEE	1.0	Director	$0	$0	$0
AUSTIN RAMIREZ	TRUSTEE	1.0	Director	$0	$0	$0
KRISTINA M ROPELLA PHD	TRUSTEE	1.0	Director	$0	$0	$0
STEVE SCHWAB MD	TRUSTEE	1.0	Director	$0	$0	$0
RICH TENNESSEN	TRUSTEE	1.0	Director	$0	$0	$0
PEGGY TROY	TRUSTEE TO 8/11/24	1.0	Director	$0	$0	$0
BRIAN S COWPERTHWAITE	VP-FACILITIES &OP AS OF 3/3/24	40.0	Officer	$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	$1,758,334,139	$1,682,301,948	$3,469,802,142	$76,032,191
2024	$1,607,441,142	$1,584,630,058	$3,274,618,395	$22,811,084
2023	$1,485,866,745	$1,459,941,335	$3,048,459,625	$25,925,410
2022	$1,613,951,767	$1,375,096,323	$2,894,883,838	$238,855,444
2021	$1,363,134,190	$1,287,814,092	$3,131,610,164	$75,320,098
2020	$1,286,151,484	$1,217,951,862	$2,541,731,692	$68,199,622
2019	$1,258,883,721	$1,179,626,265	$2,456,134,363	$79,257,456
2018	$1,216,120,532	$1,116,060,114	$2,324,075,644	$100,060,418

THE MEDICAL COLLEGE OF WISCONSIN INC