INDEPENDENT COLLEGE ENTERPRISE 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

2001

Legal Domicile

Principal Officer

CLETA HARLESS

Phone

3043403720

Tax Period

2022-07-01 to 2023-06-30

INDEPENDENT COLLEGE ENTERPRISE INC, founded in 2001, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2022. The organization ran a surplus of $450K, a strong 17% operating margin.

Mission

THE GOAL OF THE INDEPENDENT COLLEGE ENTERPRISE IS TO PROVIDE A BASIS FOR COLLABORATION AMONG ITS MEMBER SCHOOLS, BOTH IN THE SHARING OF INFORMATION TECHNOLOGY RESOURCES AND IN THE CONSOLIDATION OF OPERATING FUNCTIONS WHERE PRACTICAL.

Program Service Accomplishments

Program 1

Expenses: $1,673,812 Revenue: $2,482,639

MAINTENANCE ON DATA PROCESSING HARDWARE AND SOFTWARE USED FOR HIGHER EDUCATION

Program 2

Expenses: $80,108 Revenue: $118,819

TELEPHONE LINE CONNECTION WITH DATA PROCESSING SYSTEM

Program 3

Expenses: $8,073 Revenue: $11,974

TRAINING ON THE USE OF DATA PROCESSING HARDWARE AND SOFTWARE

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,613,432

Investment Income $29,594

Other Revenue $0

TOTAL REVENUE $2,643,026

Expense Breakdown

Grants Paid $0

Salaries & Benefits $643,016

Fundraising Expenses $0

Program Expenses $1,761,993

Other Expenses $1,550,413

TOTAL EXPENSES $2,193,429

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,643,026	$2,557,380	+0.0%
Expenses	$2,193,429	$2,205,292	0.0%
Net Income	$449,597	$352,088	+0.3%

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

N/A

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

$146,006

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS WOOD	CHAIR	2.00	Officer Director	$0	$0	$0
DR MARTIN S ROTH	PRESIDENT	2.00	Officer Director	$0	$0	$0
JAMES MOORE	SECRETARY	2.00	Officer Director	$0	$0	$0
CLETA HARLESS	TREASURER	2.00	Officer Director	$0	$0	$0
JAMIE CARIDI	DIRECTOR	2.00	Director	$0	$0	$0
CYNTHIA WARRICK	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN RALPH	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT HUMMEL	DIRECTOR	2.00	Director	$0	$0	$0
LARRY KAMONS	CEO - PART YEAR	40.00	Officer	$55,121	$7,866	$62,987
SHELLEY NASON	CEO - PART YEAR	40.00	Officer	$75,854	$7,165	$83,019

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
2023	$2,643,026	$2,193,429	$2,780,337	$449,597
2022	$2,557,380	$2,205,292	$2,519,089	$352,088
2021	$2,354,499	$2,280,544	$1,960,767	$73,955
2020	$2,237,387	$2,258,574	$1,910,760	$-21,187
2019	$2,393,093	$2,344,078	$1,832,530	$49,015