PALMER COLLEGE FOUNDATION

EIN: 426081293 501(c)(3) Education

DAVENPORT, IA

Total Revenue
$107,212,971
Total Expenses
$77,231,582
Total Assets
$343,544,806
Net Assets
$284,941,454
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1897
Legal Domicile
IA
Principal Officer
DENNIS MARCHIORI DC PHD
Phone
5638845000
Tax Period
2024-07-01 to 2025-06-30

PALMER COLLEGE FOUNDATION, founded in 1897, is a major nonprofit in the Education sector that reported $107.2M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $30.0M, a strong 28% operating margin.

Mission

PROMOTE LEARNING, DELIVER HEALTH CARE, ENGAGE OUR COMMUNITIES AND ADVANCE KNOWLEDGE THROUGH RESEARCH.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,189,552
Program Service Revenue $81,438,762
Investment Income $18,390,098
Other Revenue $4,194,559
TOTAL REVENUE $107,212,971

Expense Breakdown

Grants Paid $3,579,844
Salaries & Benefits $37,169,878
Fundraising Expenses $392,263
Program Expenses $56,931,673
Other Expenses $36,135,204
TOTAL EXPENSES $77,231,582

Year-over-Year Comparison

2024 2023 Change
Revenue $107,212,971 $93,649,505 +0.1%
Expenses $77,231,582 $73,471,128 +0.1%
Net Income $29,981,389 $20,178,377 +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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
992
Volunteers
400

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
7
$2,114,606
Total Directors
12
$8,490
Key Employees
1
$242,556
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TREVOR V IRELAND DC TRUSTEE/CHAIRPERSON 20.00
Officer Director
$0 $0 $0
PAUL VANDUYNE PE DC TRUSTEE/VICE CHAIRPERSON 5.00
Officer Director
$0 $0 $0
VICKIE A PALMER HCD TRUSTEE/SECRETARY GENERAL 1.00
Officer Director
$0 $0 $0
KENNETH R KOUPAL TRUSTEE/INTERIM ASST SEC GENERAL 1.00
Officer Director
$1,099 $0 $1,099
KENT PILCHER TRUSTEE 1.00
Director
$2,464 $0 $2,464
DONNA CRAFT DC TRUSTEE 1.00
Director
$0 $0 $0
DON BETZ PHD TRUSTEE 1.00
Director
$1,485 $0 $1,485
DONALD DOUCETTE PHD TRUSTEE 1.00
Director
$0 $0 $0
SUSAN HATFIELD PHD TRUSTEE 1.00
Director
$658 $0 $658
MICHAEL CHANCE DC TRUSTEE 1.00
Director
$2,784 $0 $2,784
NATHAN HINKELDEY DC DACRB TRUSTEE 1.00
Director
$0 $0 $0
CHARLES KELLER DC MA TRUSTEE 1.00
Director
$0 $0 $0
DENNIS MARCHIORI DC PHD PRESIDENT/CEO 30.00
Officer
$1,207,266 $129,174 $1,336,440
DAN WEINERT DC PROVOST/EXECUTIVE VICE PRESIDENT 40.00
Officer
$299,667 $128,835 $428,502
JENNIFER RANDAZZO VICE CHANCELLOR FINANCE/TREASURER 30.00
Officer
$240,409 $108,156 $348,565
WILLIAM SHERRIER DC MA CAMPUS PRESIDENT 40.00
Key Emp
$194,230 $48,326 $242,556
ROBERT PERCUOCO DC VICE CHANCELLOR 40.00
Highest
$214,841 $51,766 $266,607
CYNTHIA LONG DC DEAN OF RESEARCH 40.00
Highest
$218,026 $47,220 $265,246
BARBARA MELBOURNE JD VICE CHANCELLOR 40.00
Highest
$209,118 $50,757 $259,875
MICHAEL NORRIS PHD VICE CHANCELLOR OF ADMISSIONS 40.00
Highest
$214,360 $50,247 $264,607
IAN MCLEAN DIRECTOR OF CLINIC RADIOLOGY 40.00
Highest
$230,807 $13,385 $244,192
KEVIN CUNNINGHAM DC FACULTY (FORMER VICE CHANCELOR) 40.00
$132,679 $50,890 $183,569
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 $107,212,971 $77,231,582 $343,544,806 $29,981,389
2024 $93,649,505 $73,471,128 $320,084,450 $20,178,377
2023 $90,436,928 $70,222,213 $297,748,898 $20,214,715
2022 $91,492,236 $65,487,243 $257,383,249 $26,004,993
2021 $79,355,260 $62,557,319 $255,185,917 $16,797,941
2020 $73,082,571 $64,514,960 $216,517,203 $8,567,611
2019 $73,686,181 $64,712,989 $199,586,182 $8,973,192
2018 $75,468,808 $63,363,498 $189,030,117 $12,105,310
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