ROANOKE COLLEGE

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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

1842

Legal Domicile

Phone

5403752285

Tax Period

2023-07-01 to 2024-06-30

ROANOKE COLLEGE, founded in 1842, is a major nonprofit in the Education sector that reported $111.6M in total revenue in fiscal year 2023. Net assets of $328.3M represent 35 months of operating reserves.

Mission

Roanoke College develops students as whole persons and prepares them for responsible lives of learning, service, and leadership by promoting their intellectual, ethical, spiritual and personal growth.

Program Service Accomplishments

Program 1

Expenses: $58,109,726 Revenue: $70,989,964

Student Instruction - undergraduate college education

Program 2

Expenses: $12,622,518 Revenue: $22,566,945

Auxiliary Services - dining, residence halls, bookstore operated on campus for student use

Program 3

Expenses: $16,419,474 Revenue: $0

Student Services - programming for students

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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 (2023)

Revenue Breakdown

Contributions & Grants $12,916,143

Program Service Revenue $88,003,362

Investment Income $5,161,602

Other Revenue $5,553,547

TOTAL REVENUE $111,634,654

Expense Breakdown

Grants Paid $34,444,138

Salaries & Benefits $40,091,686

Fundraising Expenses $1,858,889

Program Expenses $91,517,959

Other Expenses $33,871,237

TOTAL EXPENSES $108,407,061

Year-over-Year Comparison

	2023	2022	Change
Revenue	$111,634,654	$107,798,707	+0.0%
Expenses	$108,407,061	$100,392,163	+0.1%
Net Income	$3,227,593	$7,406,544	-0.6%

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

1599

Volunteers

115

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

$1,331,890

Total Directors

Key Employees

$776,568

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael C Maxey	President Emeritus	40	Officer	$579,807	$9,783	$589,590
Francis X Shushok Jr	President	40	Officer	$397,249	$20,349	$417,598
David B Mowen	Vice President Finance and Administration	40	Officer	$310,369	$14,333	$324,702
Katherine J Wolfe	Vice President Academic Affairs	40	Key Emp	$228,669	$14,333	$243,002
Kimberly P Blair	Vice President Advancement	40	Key Emp	$202,311	$19,950	$222,261
Melanie W Tolan	Vice President for Marketing & Communications	40	Key Emp	$200,573	$11,975	$212,548
Richard G Grant	Senior Advisor President Strategic Initiatives	40	Highest	$144,671	$12,437	$157,108
Teresa J Ramey	Vice President for Community, Diversity & Inclusion	40	Highest	$143,226	$7,653	$150,879
Thomas A Rambo	Dean of Students	40	Highest	$138,982	$7,528	$146,510
Mary G Theodore	Associate Vice President Advancement	40	Highest	$134,692	$7,577	$142,269
David G Taylor	Associate Vice President for Academic Operations	40	Highest	$131,654	$7,506	$139,160
Brenda P Poggendorf	Vice President Enrollment & Dean for Admissions & Financial Aid	40	Key Emp	$94,785	$3,972	$98,757
Mr Kenneth J Belton	Trustee	1.4	Director	$0	$0	$0
Mr Kirk H Betts	Trustee	1.3	Director	$0	$0	$0
Dr Paris D Butler	Trustee	1	Director	$0	$0	$0
Ms Pamela L Cabalka	Trustee	1	Director	$0	$0	$0
Dr M Paul Capp	Trustee	1	Director	$0	$0	$0
Mr Joseph H Carpenter IV	Trustee	1.4	Director	$0	$0	$0
Ms Joanne Leonhardt Cassullo	Trustee	1	Director	$0	$0	$0
Mr W Morgan Churchman	Trustee	1	Director	$0	$0	$0
Mr Malon W Courts	Trustee	2.9	Director	$0	$0	$0
Mrs Kimberly Davis Riffe	Trustee	1	Director	$0	$0	$0
Mr Robert P Fralin	Trustee	1.65	Director	$0	$0	$0
Mr James S Frantz Jr	Trustee	1.15	Director	$0	$0	$0
Rev Harry W Griffith	Trustee	1	Director	$0	$0	$0
Ms Judith B Hall	Trustee	1.4	Director	$0	$0	$0
Mrs Kathryn S Harkness	Trustee	1	Director	$0	$0	$0
Mrs Peggy F Horn	Trustee	1.45	Director	$0	$0	$0
Mr Patrick R Leardo	Trustee	1.3	Director	$0	$0	$0
Mr Christopher N Merrill	Trustee	1	Director	$0	$0	$0
Rev Dr Phyllis Milton	Trustee	1	Director	$0	$0	$0
Mrs Nancy B Mulheren	Trustee	1	Director	$0	$0	$0
Mr Roger A Petersen	Trustee	1.4	Director	$0	$0	$0
Mr J Tyler Pugh	Trustee	1.35	Director	$0	$0	$0
Dr Theodore F Schneider	Trustee	1	Director	$0	$0	$0
Mr C Micah Spruill	Trustee	1	Director	$0	$0	$0
Mr Daniel E Strelka	Trustee	1.7	Director	$0	$0	$0
Mr Andrew K Teeter	Trustee	1	Director	$0	$0	$0
Mrs Nicole B Terrill	Trustee	1.25	Director	$0	$0	$0
Dr Garnett B Whitehurst	Trustee	1	Director	$0	$0	$0
Mrs Helen Twohy Whittemore	Trustee	1.4	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
2024	$111,634,654	$108,407,061	$384,792,538	$3,227,593
2023	$107,798,707	$100,392,163	$368,163,177	$7,406,544
2022	$143,560,581	$122,857,950	$351,041,863	$20,702,631
2021	$126,475,040	$110,899,984	$354,210,741	$15,575,056
2020	$118,896,428	$118,541,667	$311,477,483	$354,761
2019	$118,716,159	$115,407,352	$304,976,326	$3,308,807
2018	$121,594,280	$115,231,634	$300,796,989	$6,362,646