CENTRAL 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

1853

Legal Domicile

Phone

6416285161

Tax Period

2024-07-01 to 2025-06-30

CENTRAL COLLEGE, founded in 1853, is a mid-sized nonprofit in the Education sector that reported $70.0M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.6M, a strong 22% operating margin.

Mission

CENTRAL COLLEGE IS A RESIDENTIAL LIBERAL ARTS COLLEGE DEDICATED TO HELPING STUDENTS DISCOVER AND DEVELOP THEIR GREATEST POTENTIAL. GUIDED BY ITS ECUMENICAL CHRISTIAN TRADITION, THE COLLEGE COMMUNITY ENGAGES IN VIGOROUS, OPEN INQUIRY IN PURSUIT OF ACADEMIC EXCELLENCE. THE COLLEGE NURTURES THE DEVELOPOMENT OF THE MIND, WHILE FOSTERING SPIRITUAL AND EMOTIONAL MATURITY AND PHYSICAL WELL-BEING. CENTRAL INTEGRATES CAREER PREPARTATION WITH THE DEVELOPMENT OF VALUES ESSENTIAL TO RESPONSIBLE CITIZENSHIP, EMPOWERING GRADUATES FOR EFFECTIVE SERVICE IN LOCAL, NATIONAL, AND INTERNATIONAL COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $24,527,605 Revenue: $19,682,968

PROVIDED EDUCATIONAL SERVICES RELATED TO CLASSROOM TEACHING, LABORATORY EXPERIENCES, AND PROGRAM SERVICE TO 1,109 STUDENTS, INCLUDING 1,044 RECEIVING INSTITUTIONAL FINANCIAL ASSISTANCE.

Program 2

Expenses: $10,708,307 Revenue: $1,418,254

EXPENSES RELATED TO PROVIDING PERSONAL SERVICES AND ACTIVITIES FOR STUDENTS AT A RESIDENTIAL COLLEGE, INCLUDING COUNSELING, EXTRA-CURRICULAR ACTIVITIES, WELLNESS, ADMISSIONS, AND STUDENT GOVERNMENT.

Program 3

Expenses: $10,292,365 Revenue: $13,155,236

PROVIDED ROOM AND BOARD ON A RESIDENTIAL CAMPUS TO 1,014 STUDENTS LIVING IN RESIDENTIAL UNITS AND 1,010 STUDENTS WITH BOARD CONTRACTS.

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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 $22,080,790

Program Service Revenue $37,735,809

Investment Income $10,174,658

Other Revenue $42,049

TOTAL REVENUE $70,033,306

Expense Breakdown

Grants Paid $8,939,942

Salaries & Benefits $23,576,525

Fundraising Expenses $1,683,565

Program Expenses $47,517,175

Other Expenses $21,927,101

TOTAL EXPENSES $54,443,568

Year-over-Year Comparison

	2024	2023	Change
Revenue	$70,033,306	$51,726,412	+0.4%
Expenses	$54,443,568	$53,858,135	+0.0%
Net Income	$15,589,738	$-2,131,723	-8.3%

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

1224

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

$530,903

Total Directors

Key Employees

$593,844

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BERNADETTE ALLEN	VICE CHAIR OF BOARD	1.0	Officer Director	$0	$0	$0
DEANNA VER STEEG	VICE CHAIR OF BOARD	1.0	Officer Director	$0	$0	$0
JULIE FISHER	SECRETARY	1.0	Officer Director	$0	$0	$0
Mike VAN VOORST	TRUSTEE	1.0	Officer Director	$0	$0	$0
ROBERT THOMPSON	VICE CHAIR OF BOARD	1.0	Officer Director	$0	$0	$0
ROGER BROWN	TREASURER	1.0	Officer Director	$0	$0	$0
TEJ DHAWAN	CHAIR	1.0	Officer Director	$0	$0	$0
AMY EILERS	TRUSTEE	1.0	Director	$0	$0	$0
BARBARA PETTIT	TRUSTEE	1.0	Director	$0	$0	$0
CHAD HUYSER	TRUSTEE	1.0	Director	$0	$0	$0
CHRISTINE IEUTER	TRUSTEE	1.0	Director	$0	$0	$0
DANIEL DE COOK	TRUSTEE	1.0	Director	$0	$0	$0
DAVE SMITH	TRUSTEE	1.0	Director	$0	$0	$0
HARRY SMITH	TRUSTEE	1.0	Director	$0	$0	$0
J LANIER LITTLE	TRUSTEE	1.0	Director	$0	$0	$0
JAMES GRIFFITH	TRUSTEE	1.0	Director	$0	$0	$0
JAMES ISRAEL	TRUSTEE	1.0	Director	$0	$0	$0
Jana Rieker	TRUSTEE - PART YEAR	1.0	Director	$0	$0	$0
JEFFREY OLIVER	TRUSTEE	1.0	Director	$0	$0	$0
JUDITH VOGEL	TRUSTEE	1.0	Director	$0	$0	$0
KARA HOOGENSEN	TRUSTEE	1.0	Director	$0	$0	$0
KATHLEEN SIKKEMA	TRUSTEE	1.0	Director	$0	$0	$0
KELLY VIELMO	TRUSTEE	1.0	Director	$0	$0	$0
KRISTI BALK	TRUSTEE	1.0	Director	$0	$0	$0
LORI FEGLEY	TRUSTEE	1.0	Director	$0	$0	$0
MARC POORTINGA	TRUSTEE	1.0	Director	$0	$0	$0
MARK ELLINGSON	TRUSTEE	1.0	Director	$0	$0	$0
MARK VANDERLINDEN	TRUSTEE	1.0	Director	$0	$0	$0
MARY WORSTELL	TRUSTEE	1.0	Director	$0	$0	$0
MICHAEL MAIN	TRUSTEE	1.0	Director	$0	$0	$0
PETER CARTWRIGHT	TRUSTEE	1.0	Director	$0	$0	$0
RICK RYAN	TRUSTEE	1.0	Director	$0	$0	$0
SHANNON MATTIACE	TRUSTEE	1.0	Director	$0	$0	$0
STEVE PERKINS	TRUSTEE	1.0	Director	$0	$0	$0
STEVE SIKKINK	TRUSTEE	1.0	Director	$0	$0	$0
THOMAS KOOS	TRUSTEE	1.0	Director	$0	$0	$0
KAREN TUMLINSON	VP FINANCE & ADMIN/Assistant Treasurer	40.0	Officer	$165,712	$33,427	$199,139
MARK PUTNAM	PRESIDENT	40.0	Officer	$278,487	$53,277	$331,764
Karmen Ten Napel	VP for Student Development/Dean of Students	40.0	Key Emp	$150,375	$15,000	$165,375
MARY STREY	VP ACADEMICS	40.0	Key Emp	$201,336	$56,248	$257,584
SUNNY EIGHMY	VP DEVELOPMENT	40.0	Key Emp	$155,385	$15,500	$170,885
Aaron Roerdink	Dean of Faculty	40.0	Highest	$104,923	$32,394	$137,317
CHEVY FREIBURGER	VP ENROLLMENT	40.0	Highest	$139,646	$21,343	$160,989
ERIC VAN KLEY	VP for Athletics	40.0	Highest	$121,225	$35,216	$156,441
JEFF MCMARTIN	FOOTBALL COACH	40.0	Highest	$128,295	$35,229	$163,524
Jill Anderson	Cheif Talent, Equity, & Engagement Coordinator	40.0	Highest	$105,103	$28,182	$133,285

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	$70,033,306	$54,443,568	$187,874,765	$15,589,738
2024	$51,726,412	$53,858,135	$176,265,625	$-2,131,723
2023	$50,261,534	$54,375,050	$178,143,243	$-4,113,516
2022	$50,607,367	$51,154,042	$187,622,625	$-546,675
2021	$52,413,154	$50,392,592	$195,820,230	$2,020,562
2020	$65,374,610	$70,929,384	$182,044,293	$-5,554,774
2019	$69,348,263	$69,776,345	$185,528,700	$-428,082
2018	$67,571,678	$71,278,026	$187,395,705	$-3,706,348