COLORADO DIGITAL LEARNING SOLUTIONS

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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

2015

Legal Domicile

Principal Officer

Dan Morris

Phone

3039173922

Tax Period

2024-07-01 to 2025-06-30

COLORADO DIGITAL LEARNING SOLUTIONS, founded in 2015, is a community nonprofit in the Education sector that reported $2.2M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $2.7M exceeded revenue, resulting in a 18% operating deficit.

Mission

Colorado Digital Learning Solutions (CDLS) supports Colorado schools/school districts by providing supplemental online coursework to meet unique student needs. CDLS supports schools and districts by providing coursework in content areas typically not available to them such as world language, advanced science & math, and career and technical education courses. CLDS also helps school districts fill teacher shortages by providing online courses and a certified teacher until a teacher can be found.

Program Service Accomplishments

Program 1

Expenses: $2,188,747 Revenue: $1,466,454

Maintained and improved online learning management system (LMS) and registration system (Genius), including updating course content and assessments, adding interactive tools/projects, and developing unique course options based on school/school district's needs. Activities included: (1) Teaching and supporting over 250 courses; (2) Updating courses and adding courses as needed; (3) Increasing support structures for students with special needs (such as Text Help); and (4) Developing additional learning and support resources for site coordinators, parents, and students. This program service area represents the 'typical' upgrades in the online learning system. During the 2024-2025 year, CDLS supported 2,493 unique students with 7,381 enrollments from 126 Colorado school districts. Fall 2024 enrollments were 80% over the pre-COVID 2019-2020 school year. Yearly pass rate was 89% in Fall 2024.

Program 2

Expenses: $253,672 Revenue: $253,572

Piloted and implemented new courses, developed new support structures for students with IEPs, and expanded career and technical education and Advanced Placement (AP) course offerings. New structures included conducting pilot programs in the use of AI to support teacher feedback, student math practice support, and engagement with course content via bots. Support models which allow school district to have their own 'online program' built on CDLS infrastructure were developed and are being presented in various professional development settings.

Program 3

Expenses: $0 Revenue: $0

N/A

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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 $722,293

Program Service Revenue $1,499,025

Investment Income $20,629

Other Revenue $0

TOTAL REVENUE $2,241,947

Expense Breakdown

Grants Paid $0

Salaries & Benefits $401,235

Fundraising Expenses $0

Program Expenses $2,442,419

Other Expenses $2,251,019

TOTAL EXPENSES $2,652,254

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,241,947	$2,823,350	-0.2%
Expenses	$2,652,254	$2,958,072	-0.1%
Net Income	$-410,307	$-134,722	+2.0%

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

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ed Vandertook	Board President	5	Director	$0	$0	$0
Michelle Murphy	Board Member	3	Director	$0	$0	$0
Leon Hanhardt	Board Vice-Chairperson	3	Director	$0	$0	$0
Dianna Chrisman	Board Member	3	Director	$0	$0	$0
Jason Westfall	Board Member	3	Director	$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	$2,241,947	$2,652,254	$735,581	$-410,307
2024	No data	No data	No data	No data
2023	$2,505,924	$2,801,785	$1,280,932	$-295,861
2022	$3,108,824	$2,963,918	$1,575,239	$144,906
2021	$7,890,570	$6,731,634	$1,430,333	$1,158,936