Philander Smith 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

1905

Legal Domicile

Principal Officer

LaTonya Hayes

Tax Period

2022-07-01 to 2023-06-30

Philander Smith College, founded in 1905, is a mid-sized nonprofit in the Education sector that reported $25.3M in total revenue in fiscal year 2022. Expenses of $29.7M exceeded revenue, resulting in a 17% operating deficit.

Mission

The Colleges mission is to graduae academically accomplished students, grounded as advocates for social justice, determined to change the world for the better.

Program Service Accomplishments

Program 1

Expenses: $17,995,278 Revenue: $10,435,427

Philander Smith College offers four degrees, including the Bachelor of Business Administration, the Bachelor of Science, the Bachelor of Social Work, and the Bachelor of Arts, as well as certificates...

Program 2

Expenses: $4,471,200 Revenue: $3,945,967

Auxiliary Enterprise supports the Universitys mission of providing quality educational opportunities. These services include, but are not limited to, food services, campus housing, postal services...

Auxiliary Enterprise supports the Universitys mission of providing quality educational opportunities. These services include, but are not limited to, food services, campus housing, postal services, parking, vending, campus stores and athletics.

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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 (2022)

Revenue Breakdown

Contributions & Grants $10,685,390

Program Service Revenue $14,381,394

Investment Income $0

Other Revenue $278,022

TOTAL REVENUE $25,344,806

Expense Breakdown

Grants Paid $4,838,289

Salaries & Benefits $1,156,301

Fundraising Expenses $0

Program Expenses $22,466,478

Other Expenses $23,751,305

TOTAL EXPENSES $29,745,895

Year-over-Year Comparison

	2022	2021	Change
Revenue	$25,344,806	$24,168,910	+0.0%
Expenses	$29,745,895	N/A	N/A
Net Income	$-4,401,089	$24,168,910	-1.2%

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

359

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

$1,156,301

Total Directors

$475,007

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Roderick L Smothers Sr	President	040.00	Officer Director	$448,757	$26,250	$475,007
Ms LaTonya Hayes	Vice President of Sponsored Programs	040.00	Officer	$135,670	$8,750	$144,420
Mr Charles King	Vice President of Institutional Advancement	040.00	Officer	$118,469	$8,050	$126,519
Dr Gregory Hudson	Vice President of Student Affairs and Enrollment Management	040.00	Officer	$114,076	$0	$114,076
Dr Shannon Clowney-Johnson	Interim Vice President of Academic Affairs	040.00	Officer	$110,089	$0	$110,089
Dr Kenyatta Shamburger	Chief of Staff	040.00	Officer	$108,799	$0	$108,799
Ms Willie Hughey	Vice President of Fiscal Affairs	040.00	Officer	$77,391	$0	$77,391
Dr Debra Fiser	Secretary	001.00	Officer Director	$0	$0	$0
Mr Jake Nabholz	Trustee	001.00	Director	$0	$0	$0
Mr Robert Blue	Trustee	001.00	Director	$0	$0	$0
Mr Jim Kincannon	Treasurer	001.00	Officer Director	$0	$0	$0
Dr Terry Esper	Trustee	001.00	Director	$0	$0	$0
Mr Bob Bailey	Trustee	001.00	Director	$0	$0	$0
Dr Terrance D Grant-Malone	Trustee	001.00	Director	$0	$0	$0
Dr Sherece Y West-Scantlebury	Chairwoman	001.00	Officer Director	$0	$0	$0
Mrs Lisa Menzies	Trustee	001.00	Director	$0	$0	$0
Mrs Karyn Bradford Coleman	Trustee	001.00	Director	$0	$0	$0
Dr Maurice D Gipson	Trustee	001.00	Director	$0	$0	$0
Dr Patti Freemyer Martin	Trustee	001.00	Director	$0	$0	$0
Dr Etta F Carter	Trustee	001.00	Director	$0	$0	$0
Dr Tionna Jenkins	Trustee	001.00	Director	$0	$0	$0
Reverend Mark Norman	Trustee	001.00	Director	$0	$0	$0
Bishop Gary Mueller	Trustee	001.00	Director	$0	$0	$0
Dr Cynthia Bond Hopson	Trustee	001.00	Director	$0	$0	$0
Reverend Dr Ulysses C Washington	Trustee	001.00	Director	$0	$0	$0
Mr Roderick L Dunn	Trustee	001.00	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
2023	$25,344,806	$29,745,895	$67,926,013	$-4,401,089
2022	$31,438,360	$27,197,099	$65,341,640	$4,241,261
2021	$53,386,787	$24,769,445	$65,347,425	$28,617,342
2020	$26,618,938	$27,716,743	$60,159,905	$-1,097,805
2019	$25,626,329	$26,622,041	$58,834,942	$-995,712
2018	$24,086,868	$25,686,302	$56,812,920	$-1,599,434