SALISBURY UNIVERSITY FOUNDATION INC

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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

1973

Legal Domicile

Principal Officer

JASON CURTIN

Phone

4105436392

Tax Period

2024-07-01 to 2025-06-30

SALISBURY UNIVERSITY FOUNDATION INC, founded in 1973, is a mid-sized nonprofit in the Education sector that reported $14.7M in total revenue in fiscal year 2024. Revenue surged 76% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.3M, a strong 50% operating margin.

Mission

THE PURPOSE OF THE FOUNDATION IS TO ENRICH THE ACTIVITIES, EDUCATIONAL PROGRAMS, ATHLETICS AND SCHOLARSHIPS OF SALISBURY UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $527,797

ACADEMIC ADMINISTRATION

Program 2

Expenses: $3,799,809

ENDOWED COLLEGES AND SCHOOLS

Program 3

Expenses: $1,182,229

ATHLETICS AND CAMPUS RECREATION

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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 $11,800,991

Program Service Revenue $209,433

Investment Income $2,613,203

Other Revenue $91,877

TOTAL REVENUE $14,715,504

Expense Breakdown

Grants Paid $3,603,442

Salaries & Benefits $970,890

Fundraising Expenses $619,749

Program Expenses $5,676,189

Other Expenses $2,854,265

TOTAL EXPENSES $7,428,597

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,715,504	$8,338,038	+0.8%
Expenses	$7,428,597	$6,241,851	+0.2%
Net Income	$7,286,907	$2,096,187	+2.5%

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

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

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
DR PETER JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
DR MARK BOWEN	DIRECTOR	1.00	Director	$0	$0	$0
JASON CURTIN	EXECUTIVE DIRECTOR	10.00	Officer Director	$0	$0	$0
PETE BUZY	DIRECTOR	1.00	Director	$0	$0	$0
DR ROBERT CLARKE	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE GARIGLIANO	IMMEDIATE PAST CHAIR	2.00	Director	$0	$0	$0
DR SIMONA ENG	DIRECTOR	1.00	Director	$0	$0	$0
SAMANTHA HOWARD	VICE CHAIR	2.00	Director	$0	$0	$0
SONYA WHITED	DIRECTOR	1.00	Director	$0	$0	$0
JOE DORREGO	SECRETARY	2.00	Director	$0	$0	$0
RON MCGANN	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY STERN	CHAIR	2.00	Director	$0	$0	$0
KIMMERLY MESSICK	DIRECTOR	1.00	Director	$0	$0	$0
PHYLLIS VINYARD	DIRECTOR	1.00	Director	$0	$0	$0
JULIUS M JONES JR	DIRECTOR	1.00	Director	$0	$0	$0
J MICHAEL SCARBOROUGH	DIRECTOR	1.00	Director	$0	$0	$0
MARK SMITH	DIRECTOR	1.00	Director	$0	$0	$0
LOUIS TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
DAWN L ADKINS-HARCUM	TREASURER	2.00	Director	$0	$0	$0
RUBY BROWN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID J HARKINS	DIRECTOR	1.00	Director	$0	$0	$0
ERIC MCLAUCHLIN	VICE CHAIR	2.00	Director	$0	$0	$0
NICOLE D TURNER	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN FARROW	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM HALL	DIRECTOR	1.00	Director	$0	$0	$0
DR CHARLES B SILVIA JR	DIRECTOR	1.00	Director	$0	$0	$0
MARIA WALLER	DIRECTOR	1.00	Director	$0	$0	$0
SANDY S FITZGERALD-ANGELLO	DIRECTOR	1.00	Director	$0	$0	$0
DR THOMAS W JONES	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY S MAGAHA	DIRECTOR	1.00	Director	$0	$0	$0
KONRAD MORGAN WAYSON	DIRECTOR	1.00	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	$14,715,504	$7,428,597	$145,704,085	$7,286,907
2024	$8,338,038	$6,241,851	$125,344,982	$2,096,187
2023	$7,805,094	$5,378,594	$110,537,610	$2,426,500
2022	$9,520,292	$4,599,128	$98,030,195	$4,921,164
2021	$7,263,579	$3,980,578	$111,020,277	$3,283,001
2020	$7,073,115	$5,094,829	$82,972,694	$1,978,286
2019	$8,945,517	$5,982,144	$90,391,019	$2,963,373