ROWAN EDUCATIONAL ATTRACTIONS 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

2000

Legal Domicile

Principal Officer

KENNETH LACOVARA

Phone

8562564000

Tax Period

2023-07-01 to 2024-06-30

ROWAN EDUCATIONAL ATTRACTIONS INC, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.8M in total revenue in fiscal year 2023. Expenses of $1.6M left a modest 7% surplus.

Mission

TO SERVE AS AN SUPPORTING ORGANIZATION OF ROWAN UNIVERSITY BY OPERATING AND MAINTAINING ROWAN UNIVERSITY'S EDUCATIONAL SITES, INCLUDING ITS MUSEUM AND HISTORICAL SITES, AND TO PERFORM ANY AND ALL OTHER AUXILIARY SERVICES NECESSARY IN FURTHERANCE OF THIS PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $1,336,456 Revenue: $1,716,343

DURING 2024, REA CONTINUED TO WORK TOWARDS OPENING BY CREATING POLICIES AND PROCEDURES, DEVELOPING AWARENESS OF THE EDELMAN FOSSIL PARK & MUSEUM AND OVERSEEING ALL REQUIRED ACTIVITIES PRIOR TO...

DURING 2024, REA CONTINUED TO WORK TOWARDS OPENING BY CREATING POLICIES AND PROCEDURES, DEVELOPING AWARENESS OF THE EDELMAN FOSSIL PARK & MUSEUM AND OVERSEEING ALL REQUIRED ACTIVITIES PRIOR TO OPENING SCHEDULED FOR MARCH 2025. COMMUNITY OUTREACH EFFORTS INCLUDED PARTICIPATION IN LOCAL EVENTS, MAGAZINE ARTICLES, SOCIAL MEDIA, ETC.THE MUSEUM IS NEW AND HAS NOT OPENED YET. IT WAS RANKED AMONG THE 10 MOST ANTICIPATED MUSEUM OPENINGS IN THE WORLD BY SMITHSONIAN MAGAZINE. INITIAL PROGRAMMING WILL INCLUDE MUSEUM TOURS, QUARRY TOURS. ADDITIONALLY, THERE ARE PLANS TO HOST GUEST LECTURES, SCHOOL FIELD TRIPS, ADULT GROUPS, NATURE WALKS, AND OTHER PROGRAMMING THAT IS UNDER DEVELOPMENT.

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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 $0

Program Service Revenue $1,716,343

Investment Income $42,540

Other Revenue $0

TOTAL REVENUE $1,758,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,336,456

Other Expenses $1,644,072

TOTAL EXPENSES $1,644,072

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,758,883	N/A	N/A
Expenses	$1,644,072	N/A	N/A
Net Income	$114,811	$0	N/A

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

N/A

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

$1,486,630

Total Directors

$2,412,063

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ALI HOUSHMAND DIRECTOR	(PRES. OF ROWAN UNIVERSITY)	1.00	Director	$0	$226,647	$1,215,041
JOSEPH F SCULLY JR	PRESIDENT	1.00	Officer Director	$0	$38,889	$422,681
DR ANTHONY LOWMAN	TREASURER/SECRETARY AS OF APR 2024	1.00	Officer Director	$0	$37,796	$462,881
JESSE SHAFER	TREASURER/SECRETARY THRU APR 2024	1.00	Officer Director	$0	$14,000	$311,460
JEAN EDELMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RIC EDELMAN	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH LACOVARA	EXECUTIVE DIRECTOR	5.00	Officer	$0	$48,105	$289,608

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	$1,758,883	$1,644,072	$2,520,310	$114,811