THOMAS MORE UNIVERSITY INC

EIN: 610448560 501(c)(3) Education

CRESTVIEW HILLS, KY

Total Revenue
$83,169,756
Total Expenses
$67,782,531
Total Assets
$126,843,899
Net Assets
$69,467,815
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1921
Legal Domicile
KY
Principal Officer
DR JOSEPH L CHILLO
Phone
8593443352
Tax Period
2024-06-01 to 2025-05-31

THOMAS MORE UNIVERSITY INC, founded in 1921, is a mid-sized nonprofit in the Education sector that reported $83.2M in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.4M, a strong 19% operating margin.

Mission

THOMAS MORE UNIVERSITY IS THE CATHOLIC LIBERAL ARTS UNIVERSITY OF THE DIOCESE OF COVINGTON, KENTUCKY. INSPIRED BY THE CATHOLIC INTELLECTUAL TRADITION, WE CHALLENGE STUDENTS OF ALL FAITHS TO EXAMINE THE ULTIMATE MEANING OF LIFE, THEIR PLACE IN THE WORLD, AND THEIR RESPONSIBILITY TO OTHERS.

Program Service Accomplishments

Program 1
Expenses: $53,058,120 Revenue: $56,877,749

FOR MORE THAN 100 YEARS, THOMAS MORE HAS CREATED A UNIVERSITY FOR THE STUDENT WHO WANTS TO BE MORE, DO MORE, SEEK MORE, WIN MORE, ACHIEVE MORE, AND CREATE MORE. SINCE ITS FOUNDING IN 1921, THOMAS...

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FOR MORE THAN 100 YEARS, THOMAS MORE HAS CREATED A UNIVERSITY FOR THE STUDENT WHO WANTS TO BE MORE, DO MORE, SEEK MORE, WIN MORE, ACHIEVE MORE, AND CREATE MORE. SINCE ITS FOUNDING IN 1921, THOMAS MORE HAS PROVIDED A MISSION-DRIVEN, LIBERAL ARTS EDUCATION THAT IS BASED IN THE CATHOLIC INTELLECTUAL TRADITION. STUDENTS LEARN TO HARNESS THE POWER OF HUMAN REASON TO SOLVE PROBLEMS AND DISCOVER TRUTH, WHICH ALLOWS THEM TO BEGIN THE JOURNEY TO BECOME THE PERSON THEY WERE CREATED TO BE. ENTERING INTO THE SECOND CENTURY, IT'S TIME FOR MORE. SERVING APPROXIMATELY 2,000 STUDENTS, THOMAS MORE ASPIRES TO BE THE PREMIER CATHOLIC UNIVERSITY IN THE CINCINNATI AND NORTHERN KENTUCKY REGION.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $19,979,895
Program Service Revenue $56,877,749
Investment Income $5,884,913
Other Revenue $427,199
TOTAL REVENUE $83,169,756

Expense Breakdown

Grants Paid $28,733,938
Salaries & Benefits $18,922,972
Fundraising Expenses $1,325,490
Program Expenses $53,058,120
Other Expenses $20,125,621
TOTAL EXPENSES $67,782,531

Year-over-Year Comparison

2024 2023 Change
Revenue $83,169,756 $57,634,303 +0.4%
Expenses $67,782,531 $62,540,787 +0.1%
Net Income $15,387,225 $-4,906,484 -4.1%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
23
Independent Members
22
Employees
797
Volunteers
100

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
6
$737,785
Total Directors
23
$577,330
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR JOSEPH L CHILLO PRESIDENT 37.50
Officer Director
$508,170 $69,160 $577,330
MOST REV JOHN C IFFERT CHANCELLOR 0.50
Officer Director
$0 $0 $0
DR JUDITH A MARLOWE CHAIRPERSON 3.00
Officer Director
$0 $0 $0
THOMAS LUEKE VICE CHAIRPERSON 0.50
Officer Director
$0 $0 $0
DANIEL E TOBERGTE TRUSTEE 0.50
Director
$0 $0 $0
ANDREW SCHAEFFER TRUSTEE 0.50
Director
$0 $0 $0
DR DONALD SAELINGER TRUSTEE 0.50
Director
$0 $0 $0
JOAN M ROBINSON TRUSTEE 0.50
Director
$0 $0 $0
SR LESLIE KEENER TRUSTEE 0.50
Director
$0 $0 $0
MICHAEL DEMPSEY TRUSTEE 0.50
Director
$0 $0 $0
DR LAURA KOEHL TRUSTEE 0.50
Director
$0 $0 $0
THOMAS J DEPENBROCK TRUSTEE 0.50
Director
$0 $0 $0
GARY BLANK TRUSTEE 0.50
Director
$0 $0 $0
KIMBERLY HALBAUER TRUSTEE 0.50
Director
$0 $0 $0
JOHN BANCHY TRUSTEE 0.50
Director
$0 $0 $0
DR YVAN DEMOSTHENES TRUSTEE 0.50
Director
$0 $0 $0
DR RACHEL LEHMKUHL TRUSTEE 0.50
Director
$0 $0 $0
JOSEPH ROESEL TRUSTEE 0.50
Director
$0 $0 $0
SUSAN STURGEON TRUSTEE 0.50
Director
$0 $0 $0
TED ZALLA TRUSTEE 0.50
Director
$0 $0 $0
FRANK FRITSCH TRUSTEE 0.50
Director
$0 $0 $0
DR JAMES HORN TRUSTEE 0.50
Director
$0 $0 $0
SCOTT MCINTYRE TRUSTEE 0.50
Director
$0 $0 $0
CHARLENE BARLOW SECRETARY/ASSIST TO PRESIDENT (LEFT 08/19/25) 37.50
Officer
$56,613 $14,971 $71,584
RICHARD S ROLLINO EXECUTIVE VP & CFO (BEGAN 7/15/24) 37.50
Officer
$72,788 $16,083 $88,871
DR KEVIN REYNOLDS VP INSTITUTIONAL ADVANCEME 37.50
Highest
$175,192 $25,212 $200,404
DR JEROME LANGGUTH VP & CHIEF ACADEMIC OFFICE 37.50
Highest
$128,698 $11,185 $139,883
DR BRUCE ROSENTHAL DEAN COLLEGE OF BUSINESS 37.50
Highest
$105,812 $44,111 $149,923
DR KELLY FRENCH VP STRATEGY & IMPACT 37.50
Highest
$118,394 $58,273 $176,667
DR KIM HAVERKOS ASST. VP FOR ACADEMIC & STUDENT SUCCESS 37.50
Highest
$103,777 $49,898 $153,675
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 $83,169,756 $67,782,531 $126,843,899 $15,387,225
2024 $57,634,303 $62,540,787 $108,985,905 $-4,906,484
2023 $65,550,782 $60,137,500 $91,289,263 $5,413,282
2022 $65,917,717 $59,641,385 $76,960,441 $6,276,332
2021 $64,139,475 $54,079,708 $73,892,801 $10,059,767
2020 $54,134,088 $53,987,323 $61,728,256 $146,765
2019 $54,624,164 $52,661,072 $59,384,028 $1,963,092
2018 $52,891,689 $46,674,220 $58,506,524 $6,217,469
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