AUGUSTANA UNIVERSITY ASSOCIATION

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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

1860

Legal Domicile

Principal Officer

STEPHANIE HERSETH SANDLIN

Phone

6052744090

Tax Period

2024-08-01 to 2025-07-31

AUGUSTANA UNIVERSITY ASSOCIATION, founded in 1860, is a major nonprofit in the Education sector that reported $140.9M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

INSPIRED BY LUTHERAN SCHOLARLY TRADITION AND THE LIBERAL ARTS, AUGUSTANA PROVIDES AN EDUCATION OF ENDURING WORTH THAT CHALLENGES THE INTELLECT, FOSTERS INTEGRITY AND INTEGRATES FAITH WITH LEARNING AND SERVICE IN A DIVERSE WORLD.

Program Service Accomplishments

Program 1

Expenses: $108,175,239 Revenue: $88,295,279

HIGHER EDUCATION INSTRUCTION: INCLUDES MORE THAN 50 ACADEMIC MAJORS AND PRE-PROFESSIONAL SPECIALIZATIONS THAT PREPARE STUDENTS FOR EVENTUAL EMPLOYMENT IN BUSINESS AND FINANCE, HEALTH CARE, EDUCATION AND SOCIAL SERVICE AND FOR GRADUATE STUDIES IN LAW AND MEDICINE. AN HONORS PROGRAM, STUDY ABROAD, SERVICE LEARNING AND UNDERGRADUATE RESEARCH OPPORTUNITIES SUPPLEMENT FORMAL CLASSROOM AND LABORATORY INSTRUCTION. APPROXIMATELY 1,950 STUDENTS ARE SERVED ANNUALLY BY A FACULTY OF 150 FULL- AND PART-TIME PROFESSORS.AUGUSTANA UNIVERSITY OFFERS STUDENTS OF VARYING BACKGROUNDS AND INTERESTS AN EDUCATION THAT COMBINES A BROAD FOUNDATION IN THE LIBERAL ARTS WITH PREPARATION FOR PROFESSIONAL CAREERS OR ADVANCED STUDY.

Program 2

Expenses: $13,304,233 Revenue: $13,727,031

HIGHER EDUCATION AUXILIARY SERVICES: SERVE STUDENTS THROUGH ONLINE PARTNERSHIP BY SELLING BOOKS AND OTHER INSTRUCTIONAL MATERIALS AND PROVIDING CAMPUS HOUSING AND MEAL SERVICES FOR APPROXIMATELY...

HIGHER EDUCATION AUXILIARY SERVICES: SERVE STUDENTS THROUGH ONLINE PARTNERSHIP BY SELLING BOOKS AND OTHER INSTRUCTIONAL MATERIALS AND PROVIDING CAMPUS HOUSING AND MEAL SERVICES FOR APPROXIMATELY 1,950 STUDENTS.

Program 3

Expenses: $4,410,006 Revenue: $6,392,599

HIGHER EDUCATION ACADEMIC SUPPORT: INCLUDES ACADEMIC SUPPORT THROUGH EXTENSIVE LIBRARY HOLDINGS IN BOOKS, JOURNALS AND ONLINE RESOURCES AS WELL AS AUDIOVISUAL EQUIPMENT AND MATERIALS. INCLUDES OTHER...

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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 $23,643,847

Program Service Revenue $108,414,909

Investment Income $8,825,282

Other Revenue $-2,471

TOTAL REVENUE $140,881,567

Expense Breakdown

Grants Paid $55,241,077

Salaries & Benefits $43,562,329

Fundraising Expenses $1,833,042

Program Expenses $125,889,478

Other Expenses $40,585,132

TOTAL EXPENSES $139,388,538

Year-over-Year Comparison

	2024	2023	Change
Revenue	$140,881,567	$123,883,551	+0.1%
Expenses	$139,388,538	$126,511,223	+0.1%
Net Income	$1,493,029	$-2,627,672	-1.6%

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

1792

Volunteers

1575

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

$611,983

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JILL AANENSON	CHAIR	4.00	Officer Director	$0	$0	$0
MELINDA KEITH	VICE CHAIR	4.00	Officer Director	$0	$0	$0
TODD WILLIAMS	SECRETARY	4.00	Officer Director	$0	$0	$0
PAT MCADARAGH	TRUSTEE	4.00	Director	$0	$0	$0
KEITH SEVERSON	TRUSTEE	4.00	Director	$0	$0	$0
H EUGENE HOYME	TRUSTEE	4.00	Director	$0	$0	$0
GREG DANIELS	TRUSTEE	4.00	Director	$0	$0	$0
CHERYL LEUNING	TRUSTEE	4.00	Director	$0	$0	$0
KEVIN NYBERG	TRUSTEE	4.00	Director	$0	$0	$0
SCOTT BARTH	TRUSTEE	4.00	Director	$0	$0	$0
DENNIS BLY	TRUSTEE	4.00	Director	$0	$0	$0
MARIA BELL	TRUSTEE	4.00	Director	$0	$0	$0
JILLIAN KLEIN	TRUSTEE	4.00	Director	$0	$0	$0
CHERYL COLLINS	TRUSTEE	4.00	Director	$0	$0	$0
ANDREA DEGROOT-NESDAHL	TRUSTEE	4.00	Director	$0	$0	$0
DAMIEN FAIR	TRUSTEE	4.00	Director	$0	$0	$0
BLAINE CRISSMAN	TRUSTEE	4.00	Director	$0	$0	$0
PAUL LIMBURG	TRUSTEE	4.00	Director	$0	$0	$0
JEANELLE LUST	TRUSTEE	4.00	Director	$0	$0	$0
MOHAMMED ZEESHAN QAMAR	TRUSTEE	4.00	Director	$0	$0	$0
DALE HOIBERG	TRUSTEE	4.00	Director	$0	$0	$0
DEB WOLF	TRUSTEE	4.00	Director	$0	$0	$0
TAHA AFZAL	TRUSTEE	4.00	Director	$0	$0	$0
PAT LLOYD	TRUSTEE	4.00	Director	$0	$0	$0
RON MOQUIST	TRUSTEE (THRU 12/2024)	4.00	Director	$0	$0	$0
MANAAL ALI	TRUSTEE (THRU 12/2024)	4.00	Director	$0	$0	$0
PAUL HARMEL	TRUSTEE (THRU 12/2024)	4.00	Director	$0	$0	$0
CRAIG LLOYD	TRUSTEE (THRU 01/2025)	4.00	Director	$0	$0	$0
STEPHANIE HERSETH SANDLIN	PRESIDENT	40.00	Officer	$321,631	$48,837	$370,468
SHANNAN NELSON	CFO	40.00	Officer	$200,419	$41,096	$241,515
GARRETT RABOIN	HEAD HOCKEY COACH	40.00	Highest	$226,777	$30,023	$256,800
PAMELA HOMAN	CHIEF STRATEGY OFFICER	40.00	Highest	$182,628	$28,077	$210,705
JODI DEHLI	HR GLOBAL COMPLIANCE SPECIALIST	40.00	Highest	$166,014	$22,922	$188,936
ROXANNE HELM-STEVENS	DEAN, SCHOOL OF BUSINESS	40.00	Highest	$164,264	$12,165	$176,429
MATTHEW VOLANSKY	DIR, DPT PROGRAM	40.00	Highest	$159,417	$9,565	$168,982

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	$140,881,567	$139,388,538	$365,381,914	$1,493,029
2024	$123,883,551	$126,511,223	$361,887,059	$-2,627,672
2023	$127,863,339	$111,041,442	$354,207,088	$16,821,897
2022	$143,751,717	$97,979,613	$318,945,864	$45,772,104
2021	$99,152,573	$84,019,530	$281,200,572	$15,133,043
2020	$94,697,010	$87,634,438	$192,354,431	$7,062,572
2019	$86,890,181	$86,634,809	$178,836,338	$255,372
2018	$85,645,314	$83,769,270	$178,688,894	$1,876,044