PIERCE MORTUARY COLLEGES 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

1962

Legal Domicile

Principal Officer

JOSEPH R FINOCCHIARO

Phone

7088651600

Tax Period

2024-01-01 to 2024-12-31

PIERCE MORTUARY COLLEGES INC, founded in 1962, is a mid-sized nonprofit that reported $18.5M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year.

Mission

PIERCE MORTUARY COLLEGES, INC.'S MISSION IS TO ENGAGE IN ALL ACTIVITIES NECESSARY, USEFUL, OR EXPEDIENT TO PROMOTE AND FURTHER INTEREST IN EDUCATION, BEING PRIMARILY CONCERNED WITH EDUCATIONAL STUDY AND RESEARCH, DISSEMINATING SAME AND TEACHING THE SUBJECT OF EMBALMING OF THE HUMAN DEAD; AND THE BUSINESS AND PROFESSION OF FUNERAL SERVICE.

Program Service Accomplishments

Program 1

Expenses: $13,051,957 Revenue: $17,899,951

PIERCE MORTUARY COLLEGES, INC. OFFERS AN ACCREDITED PROGRAM IN MORTUARY SCIENCE FOR THOSE INTERESTED IN EDUCATION STUDY, SCIENTIFIC RESEARCH, AND THE BUSINESS AND PROFESSION OF FUNERAL SERVICE...

PIERCE MORTUARY COLLEGES, INC. OFFERS AN ACCREDITED PROGRAM IN MORTUARY SCIENCE FOR THOSE INTERESTED IN EDUCATION STUDY, SCIENTIFIC RESEARCH, AND THE BUSINESS AND PROFESSION OF FUNERAL SERVICE EDUCATION. THE SCHOOL SERVES APPROXIMATELY 1,958 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 $2,785

Program Service Revenue $17,795,533

Investment Income $605,201

Other Revenue $104,418

TOTAL REVENUE $18,507,937

Expense Breakdown

Grants Paid $154,658

Salaries & Benefits $10,436,307

Fundraising Expenses $0

Program Expenses $13,051,957

Other Expenses $8,593,827

TOTAL EXPENSES $19,184,792

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,507,937	$19,743,766	-0.1%
Expenses	$19,184,792	$20,952,968	-0.1%
Net Income	$-676,855	$-1,209,202	-0.4%

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

209

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

$1,525,866

Total Directors

$15,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH U SUHOR III	CHAIRMAN	5.00	Officer Director	$5,000	$0	$5,000
MARK BATES	TRUSTEE	5.00	Director	$0	$0	$0
TIMOTHY R BORDEN	TRUSTEE	2.00	Director	$5,000	$0	$5,000
JAY D DODDS	TRUSTEE	2.00	Director	$5,000	$0	$5,000
DON MADELUNG	FORMER PRESIDENT/CEO	40.00	Officer	$272,067	$0	$272,067
TYLER WRIGHT	VICE PRESIDENT/COO	40.00	Officer	$252,345	$0	$252,345
LISA MUSIOL	NATIONAL DIRECTOR OF ACADE	40.00	Officer	$202,589	$0	$202,589
EDWARD HART	CHIEF FINANCIAL OFFICER	40.00	Officer	$291,624	$0	$291,624
BILLIE WILSON	COP	40.00	Officer	$185,264	$0	$185,264
JOSEPH FINOCCHIARO	PRESIDENT/CEO	40.00	Officer	$316,977	$0	$316,977

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	$18,507,937	$19,184,792	$15,573,779	$-676,855
2023	$19,743,766	$20,952,968	$17,015,480	$-1,209,202
2022	$20,111,570	$18,293,542	$18,570,524	$1,818,028
2021	$16,634,477	$12,285,711	$14,603,316	$4,348,766
2020	$12,337,871	$9,515,673	$9,367,272	$2,822,198
2019	$8,967,272	$8,320,895	$6,318,817	$646,377
2018	$6,613,617	$6,318,438	$5,503,494	$295,179