FLAGLER COLLEGE 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

1968

Legal Domicile

Principal Officer

STACEY M MATTHEWS

Phone

9048296481

Tax Period

2023-07-01 to 2024-06-30

FLAGLER COLLEGE INC, founded in 1968, is a major nonprofit in the Education sector that reported $106.6M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $102.9M left a modest 3% surplus.

Mission

FLAGLER COLLEGE OFFERS AN EXCEPTIONAL EDUCATION THROUGH A CHALLENGING, INCLUSIVE, AND SUPPORTIVE ACADEMIC COMMUNITY INTEGRATED WITH THE THRIVING CULTURE AND HISTORY OF ST. AUGUSTINE. WE FOSTER INTELLECTUAL, SOCIAL AND PERSONAL TRANSFORMATION IN OUR STUDENTS. WE PREPARE THEM FOR A DIVERSE WORLD THAT WILL ALWAYS NEED DISCERNING INDIVIDUALS, RESPONSIBLE CITIZENS, AND VISIONARY LEADERS.

Program Service Accomplishments

Program 1

Expenses: $57,759,737 Revenue: $61,842,870

THE COLLEGE PROVIDES A HIGH QUALITY EDUCATION TO STUDENTS IN A SMALL, HISTORIC, CAMPUS ENVIRONMENT. SERVING OVER 2,300 UNDERGRADUATE STUDENTS, FLAGLER OFFERS 56 MAJOR AND MINOR PROGRAMS IN VARIOUS...

THE COLLEGE PROVIDES A HIGH QUALITY EDUCATION TO STUDENTS IN A SMALL, HISTORIC, CAMPUS ENVIRONMENT. SERVING OVER 2,300 UNDERGRADUATE STUDENTS, FLAGLER OFFERS 56 MAJOR AND MINOR PROGRAMS IN VARIOUS FIELDS OF STUDY, WITH A 15 TO 1 STUDENT TO FACULTY RATIO. THE COLLEGE SERVES AN ADDITIONAL 400 STUDENTS THROUGH ITS EVENING PUBLIC ADMINISTRATION PROGRAM IN ST. AUGUSTINE, AND DEGREE-COMPLETION PROGRAMS AT THE TALLAHASSEE CAMPUS. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED, AS WELL AS ACADEMIC AND ATHLETIC ACHIEVEMENT.

Program 2

Expenses: $25,641,819 Revenue: $16,340,196

THE COLLEGE AUXILIARY ENTERPRISES ARE FOR THE CONVENIENCE AND BENEFIT OF ITS STUDENTS, FACULTY AND STAFF. THESE SERVICES INCLUDE STUDENT RESIDENTIAL HOUSING AND DINING SERVICES, AS WELL AS STUDENT...

THE COLLEGE AUXILIARY ENTERPRISES ARE FOR THE CONVENIENCE AND BENEFIT OF ITS STUDENTS, FACULTY AND STAFF. THESE SERVICES INCLUDE STUDENT RESIDENTIAL HOUSING AND DINING SERVICES, AS WELL AS STUDENT CONVENIENCE STORE, BOOKSTORE AND PARKING SERVICES.

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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 $26,737,070

Program Service Revenue $78,183,066

Investment Income $565,047

Other Revenue $1,121,779

TOTAL REVENUE $106,606,962

Expense Breakdown

Grants Paid $17,421,089

Salaries & Benefits $43,053,685

Fundraising Expenses $3,344,778

Program Expenses $83,401,556

Other Expenses $42,439,510

TOTAL EXPENSES $102,914,284

Year-over-Year Comparison

	2023	2022	Change
Revenue	$106,606,962	$96,123,775	+0.1%
Expenses	$102,914,284	$91,970,921	+0.1%
Net Income	$3,692,678	$4,152,854	-0.1%

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

1227

Volunteers

278

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

$1,453,993

Total Directors

Key Employees

$1,146,273

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN D ROOD	CHAIR OF THE BOARD OF TRUSTEES	1.00	Officer Director	$0	$0	$0
CHARLES J TINLIN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARK F BAILEY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID C DRYSDALE	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD W GROUX JR	TRUSTEE	1.00	Director	$0	$0	$0
MIKE SANTARONE	TRUSTEE	1.00	Director	$0	$0	$0
FRANK D STEINEMANN JR	TRUSTEE	1.00	Director	$0	$0	$0
FRANK D UPCHURCH III	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN L WILSON	TRUSTEE	1.00	Director	$0	$0	$0
BREE ALBAN	TRUSTEE	1.00	Director	$0	$0	$0
ANGELA BRAV	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN A DEAGAN	TRUSTEE	1.00	Director	$0	$0	$0
HORACE A GRAY IV	TRUSTEE	1.00	Director	$0	$0	$0
VIV HELWIG	TRUSTEE	1.00	Director	$0	$0	$0
MITCHELL B WALK	TRUSTEE	1.00	Director	$0	$0	$0
BRADLEY BROWN	TRUSTEE	1.00	Director	$0	$0	$0
RYAN HALLETT	TRUSTEE	1.00	Director	$0	$0	$0
TERESA RADZINSKI	TRUSTEE	1.00	Director	$0	$0	$0
DARNELL SMITH	TRUSTEE	1.00	Director	$0	$0	$0
JOHN D BAILEY JR	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM J LONGAN	TRUSTEE	1.00	Director	$0	$0	$0
KIM R WHEELER	TRUSTEE	1.00	Director	$0	$0	$0
BRADFORD SAUER	TRUSTEE	1.00	Director	$0	$0	$0
LEWIS B POLLARD	TRUSTEE	1.00	Director	$0	$0	$0
RANDAL L RINGHAVER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN DELANEY	PRESIDENT	50.00	Officer	$926,128	$42,429	$968,557
STACEY M MATTHEWS	TREASURER, VP OF BUS SVC	48.00	Officer	$212,924	$43,288	$256,212
LAURA R STEVENSON DUMAS	SECRETARY	50.00	Officer	$182,886	$46,338	$229,224
KRISTY C MYERS	VP OF INSTITUTIONAL ADVANC	40.00	Key Emp	$256,060	$75,944	$332,004
DEBORAH LYNN THOMPSON	VP OF ENROLLMENT MANAGEMEN	40.00	Key Emp	$232,484	$60,889	$293,373
ARTHUR S VANDEN HOUTEN	VP OF ACADEMIC AFFAIRS	40.00	Key Emp	$212,597	$55,826	$268,423
JOHN U DAMON	DIRECTOR OF ATHLETICS	40.00	Key Emp	$189,357	$63,116	$252,473
GWENDOLEN MAY PECHAN	VP OF INFORMATION TECHNOLO	40.00	Highest	$195,573	$41,591	$237,164
KELLY K TOASTON	VP OF HUMAN RESOURCES	40.00	Highest	$160,677	$38,916	$199,593
CRAIG WOELFEL	DEAN OF ACADEMIC LIFE	40.00	Highest	$157,891	$35,338	$193,229
CAROL ANN BRANSON	VP OF MARKETING AND COMMUN	40.00	Highest	$158,562	$43,341	$201,903
EVERETT MALCOLM	VP OF STUDENT AFFAIRS	40.00	Highest	$143,949	$16,172	$160,121

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	$106,606,962	$102,914,284	$264,488,568	$3,692,678
2023	$96,123,775	$91,970,921	$250,976,712	$4,152,854
2022	$93,141,427	$81,345,889	$220,537,500	$11,795,538
2021	$88,540,828	$75,180,420	$220,591,275	$13,360,408
2020	$73,291,832	$74,437,703	$205,599,935	$-1,145,871
2019	$75,022,787	$72,735,379	$208,401,777	$2,287,408
2018	$70,593,349	$72,295,711	$206,417,890	$-1,702,362