VOLUNTEER STATE COLLEGE FOUNDATION

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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

1989

Legal Domicile

Principal Officer

KAREN MITCHELL

Phone

6152303506

Tax Period

2024-07-01 to 2025-06-30

VOLUNTEER STATE COLLEGE FOUNDATION, founded in 1989, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $1.1M left a modest 14% surplus.

Mission

TO RAISE AND ADMINISTER FUNDS TO SUPPORT THE EDUCATIONAL OBJECTIVES OF VOLUNTEER STATE COMMUNITY COLLEGE AND SOLICIT THE ACTIVE INVOLVEMENT OF ALL COMMUNITIES WITHIN OUR SERVICE AREA.

Program Service Accomplishments

Program 1

Expenses: $902,856

A PRIMARY FUNCTION OF VOLUNTEER STATE COLLEGE FOUNDATION IS TO INCREASE THE LEVEL OF EDUCATIONAL ATTAINMENT BY THE CITIZENS OF NORTHERN MIDDLE TENNESSEE. TO THIS END, THE FOUNDATION SEEKS FUNDS FOR CAPITAL PROJECTS, ACADEMIC PROGRAM SUPPORT, NECESSARY OPERATIONAL EXPENSES NOT COVERED BY STATE OR FEDERAL FUNDING, AND TO PROVIDE SCHOLARSHIPS. CURRENTLY, THE FOUNDATION OFFERS 137 DIFFERENT ANNUAL AND ENDOWED SCHOLARSHIPS.

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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 $860,661

Program Service Revenue $0

Investment Income $446,598

Other Revenue $-68,999

TOTAL REVENUE $1,238,260

Expense Breakdown

Grants Paid $607,496

Salaries & Benefits $0

Fundraising Expenses $8,694

Program Expenses $902,856

Other Expenses $453,195

TOTAL EXPENSES $1,060,691

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,238,260	$2,048,693	-0.4%
Expenses	$1,060,691	$1,038,902	+0.0%
Net Income	$177,569	$1,009,791	-0.8%

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

$359,134

Total Directors

$187,656

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR WENDI TOSTENSON	PRESIDENT	10.00	Officer Director	$0	$57,008	$187,656
KAREN MITCHELL	EXECUTIVE DI	25.00	Officer	$0	$45,025	$171,478
JO ANN GRAVES	CHAIR	1.00	Officer Director	$0	$0	$0
SUSAN HIGH-MCAULEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KIM BAKER	CAMPAIGN CHA	1.00	Officer Director	$0	$0	$0
STEVEN PARKER	PAST CHAIR	1.00	Officer Director	$0	$0	$0
PHILLIP BENNETT	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
CHAD COLEY	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
DAVID GREGORY	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
BILL NICHOLS	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
GINA SCOTT	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
BUDDY SHAW	TRUSTEE - EX	1.00	Officer Director	$0	$0	$0
STEPHEN ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
SHIRLEY ARRENDALE	TRUSTEE	1.00	Director	$0	$0	$0
BOB ATKINS	TRUSTEE	1.00	Director	$0	$0	$0
DR JOHN BARTEK	TRUSTEE	1.00	Director	$0	$0	$0
LEISA BYARS	TRUSTEE	1.00	Director	$0	$0	$0
JEREMIAH BENNETT	TRUSTEE	1.00	Director	$0	$0	$0
SHIRLENE CAMPBELL	TRUSTEE	1.00	Director	$0	$0	$0
DAISY CASEY	TRUSTEE	1.00	Director	$0	$0	$0
DR MARK CARTER	TRUSTEE	1.00	Director	$0	$0	$0
TOMMY DECKER	TRUSTEE	1.00	Director	$0	$0	$0
DR ANDREW FINNEY	TRUSTEE	1.00	Director	$0	$0	$0
REP JOHNNY C GARRETT IV	TRUSTEE	1.00	Director	$0	$0	$0
TONY GREGORY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID GOULD	TRUSTEE	1.00	Director	$0	$0	$0
JIM HARDING	TRUSTEE	1.00	Director	$0	$0	$0
EVELYN HILL	TRUSTEE	1.00	Director	$0	$0	$0
LORI JOHNSON	TRUSTEE	1.00	Director	$0	$0	$0
DIXIE JONES	TRUSTEE	1.00	Director	$0	$0	$0
REP WILLIAM G LAMBERTH III	TRUSTEE	1.00	Director	$0	$0	$0
LK LANNOM	TRUSTEE	1.00	Director	$0	$0	$0
ED MAYBERRY	TRUSTEE	1.00	Director	$0	$0	$0
TIM MCGILL	TRUSTEE - PA	1.00	Director	$0	$0	$0
DAVID BATE PARSONS	TRUSTEE	1.00	Director	$0	$0	$0
FRANK PINSON	TRUSTEE	1.00	Director	$0	$0	$0
DR BILL TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
GRACE TOMKINS	TRUSTEE	1.00	Director	$0	$0	$0
JOANNE WALKER	TRUSTEE	1.00	Director	$0	$0	$0
JOHNATHAN WEST	TRUSTEE	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	$1,238,260	$1,060,691	$10,833,809	$177,569
2024	$2,048,693	$1,038,902	$9,861,601	$1,009,791
2023	$920,771	$851,683	$8,636,053	$69,088
2022	$867,468	$633,529	$7,824,270	$233,939
2021	$851,999	$619,459	$8,919,431	$232,540
2020	$1,206,186	$1,254,032	$6,962,262	$-47,846
2019	$1,323,696	$1,308,282	$6,802,164	$15,414