Memorial Union Corporation

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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

1925

Legal Domicile

Principal Officer

Carmen Leeds

Phone

6203415901

Tax Period

2024-07-01 to 2025-06-30

Memorial Union Corporation, founded in 1925, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $3.6M left a modest 6% surplus.

Mission

Emporia State University's Memorial Union is the community center of the University, for students, faculty, administration, alumni and guests. The Union is a vital part of the educational and social life of the University.

Program Service Accomplishments

Program 1

Expenses: $2,128,372 Revenue: $2,768,526

Dining services are provided to all resident and non-resident students who opt for a meal plan when enrolling in school each semester. This program service also runs the convenience store.

Program 2

Expenses: $288,888 Revenue: $662

The Center for Student Involvement (CSI) provides learning experiences and gives students an opportunity to learn about themselves, develop their identity, discover and cultivate their talents and...

The Center for Student Involvement (CSI) provides learning experiences and gives students an opportunity to learn about themselves, develop their identity, discover and cultivate their talents and practice the skills necessary to be positive, productive and contributing members of society. CSI does this by creating opportunities for students to try new things, experiment, practice and take risks in the safe environment of the campus community.

Program 3

Revenue: $933,811

General operations provide for student fees, bookstore commissions, and facility and equipment rentals.

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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 $8,145

Program Service Revenue $3,702,999

Investment Income $151,344

Other Revenue $0

TOTAL REVENUE $3,862,488

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,417,260

Other Expenses $3,649,987

TOTAL EXPENSES $3,649,987

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,862,488	$3,369,941	+0.1%
Expenses	$3,649,987	$3,261,702	+0.1%
Net Income	$212,501	$108,239	+1.0%

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

N/A

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

$381,376

Total Directors

$1,711,823

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Cory Falldine	President	1.00	Officer Director	$0	$27,065	$223,718
Kala Maxfield	Secretary	1.00	Officer Director	$0	$7,572	$71,005
Azwad Arif	Vice President	1.00	Officer Director	$0	$0	$0
Ken Hush	Board Member	1.00	Director	$0	$48,188	$492,772
Abby Tubach	Board Member	1.00	Director	$0	$0	$0
Angela Wolgram	Board Member	1.00	Director	$0	$27,937	$183,039
Lindsay Bays	Board Member	1.00	Director	$0	$22,385	$118,526
Tiffany Wilson	Board Member	1.00	Director	$0	$16,474	$95,748
Pam Norton	Board Member	1.00	Director	$0	$24,027	$132,030
Mallory Bishop	Board Member	1.00	Director	$0	$13,551	$60,299
Dr Will Phillips	Board Member	1.00	Director	$0	$25,477	$154,519
Taylor Kriley	Board Member	1.00	Director	$0	$14,285	$108,423
Mike Torres	Board Member	1.00	Director	$0	$13,036	$71,744
Carson Schafer	Board Member	1.00	Director	$0	$0	$0
Maryanne Onwunuma	Board Member	1.00	Director	$0	$0	$0
Elif Sena Aktas	Board Member	1.00	Director	$0	$0	$0
Erica Lickteig	Board Member	1.00	Director	$0	$0	$0
Hallie Munsey	Board Member	1.00	Director	$0	$0	$0
Alayna McGuire	Board Member	1.00	Director	$0	$0	$0
Cooper Davis	Board Member	1.00	Director	$0	$0	$0
Savannah Hopper	Board Member	1.00	Director	$0	$0	$0
Kate Boles	Board Member	1.00	Director	$0	$0	$0
Carmen Leeds	Executive Director / Secretary	40.00	Officer	$0	$15,654	$86,653

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	$732	$55	No data	$677
2025	$3,862,488	$3,649,987	$3,508,164	$212,501
2024	$3,369,941	$3,261,702	$3,525,020	$108,239
2023	$3,390,469	$3,272,623	$3,411,622	$117,846
2021	$2,619,358	$2,890,503	$3,333,170	$-271,145
2021	$3,002,729	$2,770,709	$3,579,693	$232,020
2020	$2,999,257	$2,925,598	$3,323,657	$73,659
2019	$3,465,610	$3,256,754	$3,281,825	$208,856