PATRICK HENRY COLLEGE (EIN 541919810) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

N DARYL WOLKING

Phone

5404418000

Tax Period

2023-07-01 to 2024-06-30

PATRICK HENRY COLLEGE, founded in 1998, is a mid-sized nonprofit in the Education sector that reported $17.0M in total revenue in fiscal year 2018. Net assets of $38.3M represent 27 months of operating reserves.

Mission

THE MISSION OF PATRICK HENRY COLLEGE IS TO PREPARE CHRISTIAN MEN AND WOMEN WHO WILL LEAD OUR NATION AND SHAPE OUR CULTURE WITH TIMELESS BIBLICAL VALUES AND FIDELITY TO THE SPIRIT OF THE AMERICAN FOUNDING. EDUCATING STUDENTS ACCORDING TO A CLASSICAL LIBERAL ARTS CURRICULUM AND TRAINING THEM WITH APPRENTICESHIP METHODOLOGY, THE COLLEGE PROVIDES ACADEMICALLY EXCELLENT BACCALAUREATE LEVEL HIGHER EDUCATION WITH A BIBLICAL WORLDVIEW.THE VISION OF PATRICK HENRY COLLEGE IS TO AID IN THE TRANSFORMATION OF AMERICAN SOCIETY BY TRAINING CHRISTIAN STUDENTS TO SERVE GOD AND MANKIND WITH A PASSION FOR RIGHTEOUSNESS, JUSTICE, AND MERCY, THROUGH CAREERS OF PUBLIC SERVICE AND CULTURAL INFLUENCE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,908,358

Program Service Revenue $13,586,635

Investment Income $343,917

Other Revenue $674,523

TOTAL REVENUE $20,513,433

Expense Breakdown

Grants Paid $4,932,295

Salaries & Benefits $7,665,575

Fundraising Expenses $917,155

Program Expenses $16,799,984

Other Expenses $6,448,463

TOTAL EXPENSES $19,046,333

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,513,433	$18,965,180	+0.1%
Expenses	$19,046,333	$18,106,523	+0.1%
Net Income	$1,467,100	$858,657	+0.7%

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

326

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

$787,979

Total Directors

$284,338

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK HAYE	PRESIDENT	40.00	Officer Director	$260,284	$24,054	$284,338
MIKE WRIGHT	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
GEORGE W CLAY	VICE CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
MICHAEL P FARRIS	CHANCELLOR EMERITUS	1.00	Officer Director	$0	$0	$0
TERRY TEMPLETON	TRUSTEE	1.00	Director	$0	$0	$0
J VICTOR THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
RAMON ARDIZZONE	TRUSTEE	1.00	Director	$0	$0	$0
MARIAN FREELAND	TRUSTEE	1.00	Director	$0	$0	$0
JAMES LEININGER	TRUSTEE	1.00	Director	$0	$0	$0
RUSSELL PULLIAM	TRUSTEE	1.00	Director	$0	$0	$0
TOM HUNGAR	TRUSTEE	1.00	Director	$0	$0	$0
J MICHAEL SMITH	TRUSTEE	1.00	Director	$0	$0	$0
GARY DOWNING	TRUSTEE	1.00	Director	$0	$0	$0
COLIN STEWART	TRUSTEE	1.00	Director	$0	$0	$0
BIJAN GILANSHAH	TRUSTEE	1.00	Director	$0	$0	$0
PAUL DE PREE	TRUSTEE	1.00	Director	$0	$0	$0
DAVID SHEDD	TRUSTEE	1.00	Director	$0	$0	$0
PHILIP D GREENDYK	TRUSTEE	1.00	Director	$0	$0	$0
N DARYL WOLKING	TREASURER & VP OF FINANCE	40.00	Officer	$148,611	$25,961	$174,572
RODNEY SHOWALTER	SECRETARY & VP OF INSTITUT	40.00	Officer	$119,730	$27,836	$147,566
THOMAS ZIEMNICK	VP FOR ADVANCEMENT	40.00	Officer	$151,141	$30,362	$181,503
MARK MITCHELL	DEAN OF ACADEMIC AFFAIRS	40.00	Highest	$123,316	$29,255	$152,571
JEFF GOOD	DIRECTOR OF IT	40.00	Highest	$106,024	$20,310	$126,334
DOUGLAS FAVELO	PROFESSOR	40.00	Highest	$122,166	$29,149	$151,315
MICHAEL HAYNES	PROFESSOR	40.00	Highest	$112,108	$13,247	$125,355
SCOTT BEDROSIAN	SENIOR ADVANCEMENT OFFICER	40.00	Highest	$116,762	$0	$116,762

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	No data	No data	No data	No data
2024	$20,513,433	$19,046,333	$48,636,804	$1,467,100
2023	$18,965,180	$18,106,523	$47,891,190	$858,657
2022	$19,179,268	$16,995,310	$42,398,323	$2,183,958
2021	$16,723,647	$16,288,762	$40,510,546	$434,885
2020	$15,826,297	$15,646,415	$41,752,119	$179,882
2019	$16,982,814	$16,785,556	$45,791,831	$197,258

PATRICK HENRY COLLEGE