COUNCIL OF INDEPENDENT COLLEGES IN… - Form 990 Financial Data

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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

1971

Legal Domicile

Principal Officer

CHRISTOPHER K PEACE ESQ

Phone

5405860606

Tax Period

2023-10-01 to 2024-09-30

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA INC, founded in 1971, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $203K, a strong 18% operating margin.

Mission

FOSTER AND PROMOTE THE PROGRESS AND GENERAL WELFARE OF ITS MEMBER COLLEGES, WITH SPECIAL CONCERN FOR THE PLURALISTIC NATURE OF THE SYSTEM OF HIGHER EDUCATION IN VIRGINIA.

Program Service Accomplishments

Program 1

Expenses: $704,856 Revenue: $282,986

TO PROMOTE THE MEMBER ORGANIZATIONS THROUGH WEBSITE DEVELOPMENT, COLLABORATIVE BUSINESS AND MARKETING PROGRAMS, STUDENT MARKETING AND PUBLICATIONS, AND PROFESSIONAL DEVELOPMENT MEETINGS.

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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 $814,829

Program Service Revenue $282,986

Investment Income $5,653

Other Revenue $0

TOTAL REVENUE $1,103,468

Expense Breakdown

Grants Paid $0

Salaries & Benefits $647,175

Fundraising Expenses $1,238

Program Expenses $704,856

Other Expenses $253,097

TOTAL EXPENSES $900,272

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,103,468	$1,502,861	-0.3%
Expenses	$900,272	$1,679,637	-0.5%
Net Income	$203,196	$-176,776	-2.1%

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

$281,285

Total Directors

Key Employees

$208,785

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ALISON MORRISON-SHETLAR	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
DR MARY DANA HINTON	BOARD VICE CHAIR	3.00	Officer Director	$0	$0	$0
DR KEVIN HALLOCK	BOARD SECRETARY/TREASURER	3.00	Officer Director	$0	$0	$0
DR TIFFANY FRANKS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR SUSAN SCHULTZ HUXMAN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR SCOTT MILLER	BOARD DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL MCGLOTHLIN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DAVID WESTERN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR DAVID W OLIVE	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR DAVID BUSHMAN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR DIXIE TOOKE-RAWLINS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR JOHN W WELLS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR MIRTA MARTIN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR LARRY STIMPERT	BOARD DIRECTOR	3.00	Director	$0	$0	$0
LT GENERAL DARRELL WILLIAMS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR DONDI COSTIN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR JEFFREY P STEIN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR IRMA BECERRA	BOARD DIRECTOR	3.00	Director	$0	$0	$0
SUE OTT ROWLANDS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
MR ROBERT R LINDGREN	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR FRANK SHUSHOK JR	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR TRACY FITZSIMMONS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
BONNIE CORDON	BOARD DIRECTOR	3.00	Director	$0	$0	$0
MARY POPE HUTSON	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR HAKIM LUCAS	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR WILLIAM DUDLEY	BOARD DIRECTOR	3.00	Director	$0	$0	$0
DR ELLEN GRANBERG	BOARD DIRECTOR	3.00	Director	$0	$0	$0
CHRISTOPHER PEACE	PRESIDENT	40.00	Officer	$248,487	$32,798	$281,285
TIM KLOPFENSTEIN	HEALTH CONS. EX, DIR.	40.00	Key Emp	$173,814	$34,971	$208,785
SABENA MORETZ-VAN NAME	DIR. OF GOV. RELATIONS	40.00	Highest	$105,971	$17,980	$123,951

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	$1,103,468	$900,272	$988,933	$203,196
2023	$1,502,861	$1,679,637	$902,770	$-176,776
2022	$1,457,914	$1,485,977	$882,745	$-28,063
2021	$1,494,221	$1,315,302	$901,690	$178,919
2020	$1,379,063	$1,310,787	$724,917	$68,276
2019	$1,412,353	$1,335,197	$703,723	$77,156
2018	$1,605,588	$1,527,943	$563,483	$77,645

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA INC