UNIVERSITY CORPORATION AT MONTEREY… - Form 990 Financial Data

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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

1994

Legal Domicile

Principal Officer

GLEN NELSON

Phone

8315823395

Tax Period

2022-07-01 to 2023-06-30

UNIVERSITY CORPORATION AT MONTEREY BAY, founded in 1994, is a mid-sized nonprofit in the Education sector that reported $79.1M in total revenue in fiscal year 2022. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $76.1M left a modest 4% surplus.

Mission

TO USE FISCAL FLEXIBILITY TO PROVIDE RESOURCES AND SERVICES NOT SUPPORTED BY THE STATE, OPERATIONAL EXPERTISE TO IMPLEMENT AND MANAGE COMMERCIAL ACTIVITIES AND ENTREPRENEURIAL ACUMEN TO GENERATE REVENUE IN SUPPORT OF THE UNIVERSITY'S STRATEGIC INITIATIVES. THE CORPORATION IS COMMITTED TO SUPPORTING THE UNIVERSITY IN BUILDING A MULTICULTURAL LEARNING COMMUNITY WHOSE PARTNERS ARE PREPARED TO CONTRIBUTE PRODUCTIVELY, RESPONSIBLY AND ETHICALLY TO CALIFORNIA AND THE GLOBAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $39,604,923 Revenue: $46,758,872

HOUSING, DINING AND RESIDENTIAL LIFE PROGRAM FOR STUDENTS, FACULTY AND STAFF OF THE UNIVERSITY.

Program 2

Expenses: $22,039,427

GRANTS & CONTRACTS: EXTERNALLY SPONSORED PROJECTS ADMINISTERED BY THE CORPORATION FOR THE UNIVERSITY.

Program 3

Expenses: $4,172,562

CAMPUS SUPPORT, DEVELOPMENT AND INFRASTRUCTURE: VARIOUS BUILDING AND OTHER PROJECTS FOR THE BENEFIT OF THE UNIVERSITY AND ITS AUXILIARIES

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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 $27,997,720

Program Service Revenue $47,561,651

Investment Income $3,483,463

Other Revenue $44,149

TOTAL REVENUE $79,086,983

Expense Breakdown

Grants Paid $7,616,384

Salaries & Benefits $19,851,060

Fundraising Expenses $907,571

Program Expenses $69,107,748

Other Expenses $48,671,849

TOTAL EXPENSES $76,139,293

Year-over-Year Comparison

	2022	2021	Change
Revenue	$79,086,983	$72,925,924	+0.1%
Expenses	$76,139,293	$83,426,081	-0.1%
Net Income	$2,947,690	$-10,500,157	-1.3%

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

912

Volunteers

400

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

$1,294,981

Total Directors

$2,154,902

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VANYA QUINONES PHD	PRESIDENT	1.00	Officer Director	$0	$108,885	$404,605
EDUARDO M OCHOA PHD	PRESIDENT (PART YEAR)	1.00	Officer Director	$0	$33,654	$165,153
KATHERINE KANTARDJIEFF	SECRETARY/TREASURER	1.00	Officer Director	$0	$97,644	$422,078
GLEN NELSON	EXECUTIVE DIRECTOR	1.00	Officer Director	$0	$57,933	$303,145
MARIA BELLUMORI	FACULTY DIRECTOR	1.00	Director	$531	$38,087	$133,198
JOHN FRAIRE	STUDENT AFFAIRS DIRECTOR	1.00	Director	$0	$25,200	$242,200
JOHN JIMENEZ	STUDENT DIRECTOR	1.00	Director	$0	$0	$9,850
ROBERT TAYLOR ESQ	COMMUNITY MEMBER DIRECTOR	1.00	Director	$0	$0	$0
BARBARA ZAPPAS	UNIVERSITY DEVELOPMENT DIR	1.00	Director	$0	$96,167	$337,078
MARY JO ZENK	STAFF DIRECTOR	1.00	Director	$0	$46,654	$137,595
STARR LEE	ASSOCIATE EXECUTIVE DIRECT	40.00	Highest	$212,077	$23,386	$235,463
SHERRY BAGGETT	CONTROLLER	40.00	Highest	$177,818	$46,835	$224,653
FORREST MELTON	SR. SCIENTIST	40.00	Highest	$173,219	$46,437	$219,656
LEE JOHNSON	SR. SCIENTIST	40.00	Highest	$156,748	$36,812	$193,560
MIKLOS BENEDEK	GENERAL MANAGER	40.00	Highest	$137,386	$24,724	$162,110

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	No data	No data	No data	No data
2023	$79,086,983	$76,139,293	$223,603,733	$2,947,690
2022	$72,925,924	$83,426,081	$228,825,239	$-10,500,157
2021	$49,155,763	$56,832,365	$199,917,843	$-7,676,602
2020	$61,239,062	$61,697,272	$198,127,958	$-458,210
2019	$65,303,571	$58,893,639	$200,941,927	$6,409,932

UNIVERSITY CORPORATION AT MONTEREY BAY