ST THOMAS UNIVERSITY 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

1961

Legal Domicile

Phone

3056286704

Tax Period

2023-07-01 to 2024-06-30

ST THOMAS UNIVERSITY INC, founded in 1961, is a mid-sized nonprofit that reported $88.8M in total revenue in fiscal year 2023. Expenses of $83.8M left a modest 6% surplus.

Mission

ST. THOMAS UNIVERSITY, INC. IS A CATHOLIC UNIVERSITY WITH RICH CULTURAL AND INTERNATIONAL DIVERSITY COMMITTED TO THE ACADEMIC AND PROFESSIONAL SUCCESS OF ITS STUDENTS WHO BECOME ETHICAL LEADERS IN OUR GLOBAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $52,339,986 Revenue: $68,721,699

ASSOCIATION OF COLLEGES AND SCHOOLS AND FIRST ACCREDITED BY THE PROFESSIONAL SUCCESS OF ITS STUDENTS WHO BECOME ETHICAL LEADERS IN OUR GLOBAL COMMUNITY. ST. THOMAS UNIVERSITY WAS ACCEPTED AS A MEMBER OF THE SOUTHERN COMMISSION ON COLLEGES IN 1968. ST. THOMAS IS ACCREDITED TO AWARD BACHELORS, MASTER AND JURIS DOCTOR DEGREES. THE FALL 2023 FTE (IPED DEFINITION) ENROLLMENT SHOWS A TOTAL OF 2,634 UNDERGRADUATE STUDENTS INCLUDING DUAL ENROLLMENT, 1,551 GRADUATE STUDENTS AND 711 LAW STUDENTS. TUITION FOR ACADEMIC YEAR 2023-2024 WAS $34,770 FOR FULL TIME UNDERGRADUATE STUDENTS AND $45,960 FOR FULL TIME LAW STUDENTS. GRADUATE TUITION RANGED BETWEEN $530 AND $1,055 PER CREDIT. CERTAIN PROGRAMS WERE OFFERED AT A DISCOUNTED RATE.

Program 2

Expenses: $10,339,948 Revenue: $9,585,972

ST. THOMAS UNIVERSITY PROVIDES THE OPPORTUNITY FOR COMMUNITY LIVING BASED UPON THE CATHOLIC PHILOSOPHY OF MUTUAL RESPECT FOR THE RIGHTS OF EACH INDIVIDUAL. THE RESIDENCE HALL ARRANGEMENTS ENCOURAGE AUTONOMY, THE DEVELOPMENT OF INTERPERSONAL RELATIONSHIPS, ALONG WITH THE CONVENIENCE OF RESIDING ON CAMPUS. ST. THOMAS UNIVERSITY HAD 867 STUDENTS LIVING ON CAMPUS DURING THE FALL 2023 AND 768 DURING SPRING 2024.

Program 3

Expenses: $1,365,052 Revenue: $466,205

HUMAN RIGHTS INSTITUTE - THE INSTITUTE IS FUNDED BY THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES PROVIDING IMMIGRATION LEGAL SERVICES TO QUALIFIED CUSTOMERS FREE OF CHARGE. ST. THOMAS UNIVERSITY IS REIMBURSED BY THE STATE OF FLORIDA DEPARTMENT OF CHILDREN AND FAMILIES (PASS THROUGH AGENCY) VIA CHURCH WORLD SERVICES. ST. THOMAS UNIVERSITY IS REIMBURSED BASED ON A NEGOTIATED FEE FOR SERVICES UP TO THE AMOUNT OF EXPENSES INCURRED. IN ADDITION TO REPORTING THE NUMBER OF CLIENTS SERVED, ST. THOMAS UNIVERSITY REPORTS OPERATIONAL EXPENSES OF THE HUMAN RIGHTS INSTITUTE ON A QUARTERLY BASIS. APPROXIMATELY 2,018 CLIENTS WERE SERVED IN FISCAL YEAR 2024.

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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 $8,242,073

Program Service Revenue $77,965,507

Investment Income $1,561,688

Other Revenue $1,050,189

TOTAL REVENUE $88,819,457

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,421,016

Fundraising Expenses $1,382,903

Program Expenses $64,044,986

Other Expenses $43,382,717

TOTAL EXPENSES $83,803,733

Year-over-Year Comparison

	2023	2022	Change
Revenue	$88,819,457	$86,049,003	+0.0%
Expenses	$83,803,733	$72,928,855	+0.1%
Net Income	$5,015,724	$13,120,148	-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

1638

Volunteers

170

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

$1,130,038

Total Directors

$663,894

Key Employees

$714,741

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID A ARMSTRONG	PRESIDENT	50.0	Officer Director	$592,452	$71,442	$663,894
JOHN J DOONER	CHAIR	1.0	Officer Director	$0	$0	$0
JORGE RICO	VICE CHAIR	1.0	Officer Director	$0	$0	$0
MAUREEN SHEA	SECRETARY	1.0	Officer Director	$0	$0	$0
ALEX PENELAS	TRUSTEE (THRU 06/2024)	1.0	Director	$0	$0	$0
BERNIE FERNANDEZ MD	TRUSTEE	1.0	Director	$0	$0	$0
BOB DICKINSON	TRUSTEE	1.0	Director	$0	$0	$0
DANIEL D DOLAN II ESQ	TRUSTEE	1.0	Director	$0	$0	$0
DOMINICK F MINIACI ESQ	TRUSTEE	1.0	Director	$0	$0	$0
DONALD E DRESBACK	TRUSTEE	1.0	Director	$0	$0	$0
FRANCES ALDRICH SEVILLA-SACASA	TRUSTEE	1.0	Director	$0	$0	$0
GARY GOLDBLOOM ESQ	TRUSTEE	1.0	Director	$0	$0	$0
HERBERT YARDLEY	TRUSTEE	1.0	Director	$0	$0	$0
JORGE LUIS LOPEZ ESQ	TRUSTEE	1.0	Director	$0	$0	$0
LENORE P RODICIO PhD	TRUSTEE	1.0	Director	$0	$0	$0
LILLIAM MACHADO	TRUSTEE	1.0	Director	$0	$0	$0
MARC CANNON	TRUSTEE	1.0	Director	$0	$0	$0
MARCOS A PEREZ	TRUSTEE	1.0	Director	$0	$0	$0
MARIO MURGADO	TRUSTEE	1.0	Director	$0	$0	$0
MARIO TRUEBA	TRUSTEE	1.0	Director	$0	$0	$0
MICHAEL T FAY	TRUSTEE	1.0	Director	$0	$0	$0
MOST REV ENRIQUE E DELGADO	TRUSTEE	1.0	Director	$0	$0	$0
PAUL A GARCIA CPA	TRUSTEE	1.0	Director	$0	$0	$0
REV JOHN T BUTLER	TRUSTEE	1.0	Director	$0	$0	$0
RICHARD GARCIA	TRUSTEE	1.0	Director	$0	$0	$0
ROBERT SANCHEZ	TRUSTEE (THRU 06/2024)	1.0	Director	$0	$0	$0
VICTOR BENITEZ	TRUSTEE	1.0	Director	$0	$0	$0
VICTOR H MENDELSON	TRUSTEE	1.0	Director	$0	$0	$0
WILLIAM A KENT	TRUSTEE (AS OF 03/2024)	1.0	Director	$0	$0	$0
WINI AMATURO	TRUSTEE	1.0	Director	$0	$0	$0
LINDA L WAGNER	VP FOR ADMIN./CFO	50.0	Officer	$240,048	$18,687	$258,735
MICHELLE A JOHNSON-GARCIA	PROVOST	50.0	Officer	$195,664	$11,745	$207,409
JAMEKA A WINDHAM	CHIEF OF STAFF/V.P. FOR ENROLLMENT	50.0	Key Emp	$227,693	$10,122	$237,815
JOHN MAKDISI	INTERIM DEAN LAW SCHOOL	50.0	Key Emp	$210,809	$0	$210,809
ROBYN S HOFFMAN	V.P. FOR PHILANTHROPY	50.0	Key Emp	$261,303	$4,814	$266,117
CARLOS A DE YARZA	V.P. OF MKTNG AND COMM.	50.0	Highest	$178,285	$20,232	$198,517
DORIS TERAN	NURSING FACULTY PROFESSOR	50.0	Highest	$204,077	$8,687	$212,764
MARK J WOLFF	PROFESSOR OF LAW	50.0	Highest	$196,955	$6,680	$203,635
SIEGFRIED WIESSNER	ASSOCIATE DEAN	50.0	Highest	$227,857	$12,765	$240,622
STEPHEN A PLASS	PROFESSOR	50.0	Highest	$186,142	$6,102	$192,244

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	$88,819,457	$83,803,733	$215,529,634	$5,015,724
2023	$86,049,003	$72,928,855	$204,440,989	$13,120,148
2022	$76,185,146	$63,636,796	$152,091,554	$12,548,350
2021	$75,829,277	$56,767,275	$137,677,152	$19,062,002
2020	$60,348,950	$55,326,020	$109,354,722	$5,022,930
2019	$52,476,757	$55,690,265	$87,971,044	$-3,213,508
2018	$54,068,767	$55,655,470	$87,143,409	$-1,586,703