ASBURY COLLEGE

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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

1904

Legal Domicile

Phone

8598583511

Tax Period

2024-07-01 to 2025-06-30

ASBURY COLLEGE, founded in 1904, is a mid-sized nonprofit in the Education sector that reported $64.0M in total revenue in fiscal year 2024. Net assets of $174.5M represent 33 months of operating reserves.

Mission

ASBURY UNIVERSITY EQUIPS STUDENTS, THROUGH ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY, FOR LIFELONG LEARNING, LEADERSHIP, AND SERVICE TO THE PROFESSIONS, SOCIETY, THE FAMILY AND THE CHURCH, PREPARING THEM TO ENGAGE THEIR CULTURES AND ADVANCE THE CAUSE OF CHRIST WORLDWIDE.

Program Service Accomplishments

Program 1

Expenses: $56,611,005 Revenue: $53,095,660

ASBURY UNIVERSITY IS A CHRISTIAN LIBERAL ARTS UNIVERSITY. THE COLLEGE WAS FOUNDED IN 1890 AND IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS, THE NATIONAL ASSOCATION OF SCHOOLS OF MUSIC, AND THE TEACHER EDUCATION PROGRAM BY THE KENTUCKY DEPARTMENT OF EDUCATION. THE COLLEGE OPERATES A MAIN CAMPUS IN WILMORE, KY AND A VIRTUAL CAMPUS FOR ON-LINE LEARNING, PROVIDING EDUCATION FOR APPROXIMATELY 1,927 STUDENTS.

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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 $6,303,482

Program Service Revenue $51,160,044

Investment Income $4,442,195

Other Revenue $2,090,174

TOTAL REVENUE $63,995,895

Expense Breakdown

Grants Paid $20,060,188

Salaries & Benefits $24,269,953

Fundraising Expenses $2,015,555

Program Expenses $56,611,005

Other Expenses $20,076,305

TOTAL EXPENSES $64,406,446

Year-over-Year Comparison

	2024	2023	Change
Revenue	$63,995,895	$66,549,803	0.0%
Expenses	$64,406,446	$62,951,695	+0.0%
Net Income	$-410,551	$3,598,108	-1.1%

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

1244

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

$1,152,616

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew J Coleman	Vice Chair	2.0	Director	$0	$0	$0
Ashleigh Lindsay-Behnke	Trustee	2.0	Director	$0	$0	$0
CE Crouse Jr	Trustee	2.0	Director	$0	$0	$0
Cindy-Lou Drummond	Trustee	2.0	Director	$0	$0	$0
Delvin J Pikes	Trustee	2.0	Director	$0	$0	$0
Dr OJ Oleka	Trustee	2.0	Director	$0	$0	$0
Dr Stephen K Toadvine	Trustee	2.0	Director	$0	$0	$0
Elaine A Bernius	Secretary	2.0	Director	$0	$0	$0
Jamie C Higdon	Trustee	2.0	Director	$0	$0	$0
Janine C Jones	Trustee	2.0	Director	$0	$0	$0
Jeffrey E Stryker	Trustee	2.0	Director	$0	$0	$0
John G Rinehimer	Trustee	2.0	Director	$0	$0	$0
Jorge Acevedo	Trustee	2.0	Director	$0	$0	$0
Joseph R Pitts	Trustee	2.0	Director	$0	$0	$0
Larry D Brown	Board Chair	4.0	Director	$0	$0	$0
LIsa F Ausley	Trustee	2.0	Director	$0	$0	$0
Neal R Schultz	Trustee	2.0	Director	$0	$0	$0
Richard O Speakman	Trustee	2.0	Director	$0	$0	$0
Rob L Aukerman	Trustee	2.0	Director	$0	$0	$0
Ron Ball	Trustee	2.0	Director	$0	$0	$0
Sarah L Luce	Trustee	2.0	Director	$0	$0	$0
Timothy A Shell	Trustee	2.0	Director	$0	$0	$0
Waldon Garriss	Trustee	2.0	Director	$0	$0	$0
Dr Kevin J Brown	President	40.0	Officer	$276,795	$48,226	$325,021
Dr Mark Troyer	VP for Institutional Advancement	40.0	Officer	$118,886	$22,936	$141,822
Dr Sarah Baldwin	VP for Student Development	40.0	Officer	$96,143	$21,944	$118,087
Dr Sherry Powers	Provost	40.0	Officer	$141,578	$16,828	$158,406
Glenn Hamilton	VP for Operations	40.0	Officer	$107,863	$22,771	$130,634
Jennifer McChord	VP for Enrollment Management	40.0	Officer	$108,217	$22,347	$130,564
Mark Whitworth	VP for Intercollegiate Athletics	40.0	Officer	$124,479	$23,603	$148,082
Dale L Jarrard	Associate VP for Advancement	40.0	Highest	$100,347	$22,207	$122,554

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	$63,995,895	$64,406,446	$190,397,269	$-410,551
2024	No data	No data	No data	No data
2023	$61,685,781	$58,632,031	$176,637,593	$3,053,750
2022	$69,387,747	$56,347,315	$169,761,805	$13,040,432
2021	$73,010,633	$54,659,350	$170,047,358	$18,351,283
2020	$52,608,542	$53,533,398	$144,144,761	$-924,856
2019	$57,848,599	$54,180,208	$142,043,154	$3,668,391
2018	$53,505,813	$53,837,967	$138,217,179	$-332,154