CARLETON COLLEGE (EIN 410694747) - 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

1866

Legal Domicile

Principal Officer

ALISON BYERLY

Phone

5072224000

Tax Period

2024-07-01 to 2025-06-30

CARLETON COLLEGE, founded in 1866, is a major nonprofit in the Education sector that reported $315.1M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $53.8M, a strong 17% operating margin.

Mission

TO PROVIDE AN EXCEPTIONAL UNDERGRADUATE LIBERAL ARTS EDUCATION.

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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 $41,295,400

Program Service Revenue $176,373,737

Investment Income $94,470,570

Other Revenue $2,942,705

TOTAL REVENUE $315,082,412

Expense Breakdown

Grants Paid $69,812,098

Salaries & Benefits $107,438,913

Fundraising Expenses $6,929,184

Program Expenses $232,083,933

Other Expenses $83,987,779

TOTAL EXPENSES $261,238,790

Year-over-Year Comparison

	2024	2023	Change
Revenue	$315,082,412	$278,954,694	+0.1%
Expenses	$261,238,790	$253,992,441	+0.0%
Net Income	$53,843,622	$24,962,253	+1.2%

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

3072

Volunteers

2985

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

$2,269,036

Total Directors

$863,204

Key Employees

$1,698,135

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALISON BYERLY	PRESIDENT	60.00	Officer Director	$736,099	$127,105	$863,204
CATHY PAGLIA	TRUSTEE CHAIR	8.00	Officer Director	$0	$0	$0
JENINNE MCGEE	TRUSTEE VICE CHAIR	8.00	Officer Director	$0	$0	$0
JOHN HARRIS	SECRETARY	8.00	Officer Director	$0	$0	$0
GREG AMUSU	TRUSTEE	5.00	Director	$0	$0	$0
MARK APPLEBAUM	TRUSTEE	5.00	Director	$0	$0	$0
EMILY BARR	TRUSTEE	5.00	Director	$0	$0	$0
KURCHI BASU	TRUSTEE	5.00	Director	$0	$0	$0
ALAN BAUER	TRUSTEE	5.00	Director	$0	$0	$0
ELIZABETH BAUSCH	TRUSTEE	5.00	Director	$0	$0	$0
JONATHAN CAPEHART	TRUSTEE	5.00	Director	$0	$0	$0
VINAYA CHEPURI	TRUSTEE	5.00	Director	$0	$0	$0
DAVID DIAMOND	TRUSTEE	5.00	Director	$0	$0	$0
HERB FRITCH	TRUSTEE	5.00	Director	$0	$0	$0
LIA GORE	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL HASENSTAB	TRUSTEE	5.00	Director	$0	$0	$0
SARA HAYS	TRUSTEE	5.00	Director	$0	$0	$0
BRENT IRVIN	TRUSTEE	5.00	Director	$0	$0	$0
DASHINI JEYATHURAI	TRUSTEE	5.00	Director	$0	$0	$0
BOLUWATIFE JOHNSON	TRUSTEE	5.00	Director	$0	$0	$0
LESLIE KAUTZ	TRUSTEE	5.00	Director	$0	$0	$0
PAM KIECKER ROYALL	TRUSTEE	5.00	Director	$0	$0	$0
ELIZABETH KING	TRUSTEE	5.00	Director	$0	$0	$0
CHRISTIAN LEE	TRUSTEE	5.00	Director	$0	$0	$0
BRAD NORDHOLM	TRUSTEE	5.00	Director	$0	$0	$0
JENNIFER PIETENPOL	TRUSTEE	5.00	Director	$0	$0	$0
RAUL RAYMUNDO	TRUSTEE	5.00	Director	$0	$0	$0
NONOKO SATO	TRUSTEE	5.00	Director	$0	$0	$0
DAVID SMITH	TRUSTEE	5.00	Director	$0	$0	$0
JUSTIN WENDER	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL WIEBOLT	TRUSTEE	5.00	Director	$0	$0	$0
CANDACE WILLIAMS	TRUSTEE	5.00	Director	$0	$0	$0
DANA WRIGHT	TRUSTEE	5.00	Director	$0	$0	$0
JOHN YOUNGBLOOD	TRUSTEE	5.00	Director	$0	$0	$0
ERIC RUNESTAD	VP AND TREASURER	60.00	Officer	$368,659	$67,432	$436,091
MICHELLE MATTSON	PROVOST & VP OF ACADEMIC AFFAIRS	60.00	Officer	$326,550	$45,614	$372,164
DAN RUSTAD	VP OF EXTERNAL RELATIONS (INTERIM)	60.00	Officer	$200,352	$53,986	$254,338
DAREN BATKE	VP OF DEVELOPMENT & ALUMNI RELATIONS	60.00	Officer	$304,142	$39,097	$343,239
KELSEY DESHLER	CHIEF INVESTMENT OFFICER	60.00	Key Emp	$925,537	$72,079	$997,616
ART D RODRIGUEZ	VP & DEAN OF ADMISSIONS & FINANCIAL AID	60.00	Key Emp	$278,981	$64,956	$343,937
CAROLYN H LIVINGSTON	VP FOR STUDENT LIFE & DEAN OF STUDENTS	60.00	Key Emp	$249,000	$107,582	$356,582
TIMOTHY GRIFFETH	DIRECTOR OF INVESTMENTS	60.00	Highest	$508,373	$68,478	$576,851
ELISE ESLINGER	CHIEF OF STAFF	60.00	Highest	$234,323	$59,463	$293,786
MICHAEL T HEMESATH	PROFESSOR OF ECONOMICS	60.00	Highest	$243,861	$59,375	$303,236
JULIE J NEIWORTH	PROFESSOR OF PSYCHOLOGY	60.00	Highest	$236,697	$29,311	$266,008
JEFF DSIDA	ASSOCIATE DIRECTOR OF INVESTMENTS	60.00	Highest	$227,426	$28,624	$256,050
STEVEN G POSKANZER	PRESIDENT (FORMER)	60.00		$191,161	$45,618	$236,779
GRETCHEN E HOFMEISTER	DEAN OF THE COLLEGE INTERIM (FORMER)	60.00		$167,347	$42,792	$210,139

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	$315,082,412	$261,238,790	$1,992,369,854	$53,843,622
2024	$278,954,694	$253,992,441	$1,883,994,794	$24,962,253
2023	$296,522,250	$239,981,775	$1,727,307,245	$56,540,475
2022	$280,959,414	$223,828,854	$1,658,331,169	$57,130,560
2021	$320,773,806	$203,397,209	$1,738,198,659	$117,376,597
2020	$240,267,870	$199,426,933	$1,414,260,160	$40,840,937
2019	$239,201,569	$196,383,289	$1,437,200,057	$42,818,280
2018	$249,507,671	$190,393,370	$1,412,434,433	$59,114,301

CARLETON COLLEGE