CARROLL 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

1909

Legal Domicile

Principal Officer

JAMES CARNEY

Phone

4064475432

Tax Period

2024-07-01 to 2025-06-30

CARROLL COLLEGE, founded in 1909, is a mid-sized nonprofit in the Education sector that reported $73.1M in total revenue in fiscal year 2024. Expenses of $70.5M left a modest 4% surplus.

Mission

CARROLL COLLEGE IS A CATHOLIC, DIOCESAN, LIBERAL ARTS COLLEGE IN THE ECUMENICAL TRADITION OF THE SECOND VATICAN COUNCIL. AS A LIBERAL ARTS SCHOOL, CARROLL COLLEGE ACKNOWLEDGES THE PRACTICAL ROLE OF PREPARING ITS STUDENTS FOR A CAREER, BUT IT ALSO AFFIRMS THE TRADITIONAL ROLE OF PROVIDING FOR THE EXPANSION OF THE INTELLECTUAL, IMAGINATIVE, AND SOCIAL AWARENESS OF ITS STUDENTS. IT IS DEDICATED TO PROVIDING FOR ITS STUDENTS THE MEANS FOR THEIR FULL REALIZATION OF A DUAL GOAL OF VOCATION AND ENLIGHTENMENT. THUS, WHILE PROVIDING SUBSTANTIAL PROFESSIONAL AND PRE-PROFESSIONAL PROGRAMS, THE COLLEGE ENCOURAGES AND EXPECTS ALL STUDENTS TO PARTICIPATE IN A BROAD SPECTRUM OF ACADEMIC DISCIPLINES.

Program Service Accomplishments

Program 1

Expenses: $11,543,003 Revenue: $46,058,095

INSTRUCTION - LIBERAL ARTS PROGRAM LEADING TO A BACCALAUREATE DEGREE

Program 2

Expenses: $3,286,748

ACADEMIC SUPPORT - ACADEMIC ADMINISTRATION, LIBRARIES, LOGISTICS AND SERVICES

Program 3

Expenses: $41,406,175 Revenue: $11,258,940

STUDENT SERVICES - OFFICE OF THE DEAN OF STUDENTS, STUDENT ACTIVITIES, STUDENT PUBLICATIONS,COUNSELING, FINANCIAL AID, STUDENT RECORDS, AND STUDENT HEALTH ISSUES

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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 $9,647,431

Program Service Revenue $58,822,052

Investment Income $3,810,564

Other Revenue $797,905

TOTAL REVENUE $73,077,952

Expense Breakdown

Grants Paid $28,918,879

Salaries & Benefits $21,852,954

Fundraising Expenses $1,982,861

Program Expenses $57,961,544

Other Expenses $19,707,646

TOTAL EXPENSES $70,479,479

Year-over-Year Comparison

	2024	2023	Change
Revenue	$73,077,952	$75,695,875	0.0%
Expenses	$70,479,479	$70,614,677	0.0%
Net Income	$2,598,473	$5,081,198	-0.5%

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

1018

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

$318,629

Total Directors

Key Employees

$206,108

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB HEBERLY	TRUSTEE	2.00	Director	$0	$0	$0
CHRIS GILLETTE	TRUSTEE	2.00	Director	$0	$0	$0
THERESA RACICOT	TRUSTEE	2.00	Director	$0	$0	$0
DONALD WETZEL JR	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS DOWNEY	TRUSTEE	2.00	Director	$0	$0	$0
DR RUSS BELL	TRUSTEE	2.00	Director	$0	$0	$0
THE REV DR BART TOLLESON	TRUSTEE	2.00	Director	$0	$0	$0
CHRIS SCHELLING	TRUSTEE	2.00	Director	$0	$0	$0
SARAH WALSH	TRUSTEE	2.00	Director	$0	$0	$0
DR DAVID LECHNER	TRUSTEE	2.00	Director	$0	$0	$0
THE REV CRAIG HANLEY	TRUSTEE	2.00	Director	$0	$0	$0
SARA SEXE	TRUSTEE	2.00	Director	$0	$0	$0
BISHOP AUSTIN VETTER	CHANCELLOR	2.00	Officer Director	$0	$0	$0
THE REV PATRICK BERETTA	CHAIR	2.00	Officer Director	$0	$0	$0
RON BAZE	TRUSTEE	2.00	Director	$0	$0	$0
DR JOYCE STEWART	SECRETARY	2.00	Officer Director	$0	$0	$0
THOMAS WHYTE	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOHN SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL DALTON	TRUSTEE	2.00	Director	$0	$0	$0
MONICA GOMEZ	TRUSTEE	2.00	Director	$0	$0	$0
MSGR KEVIN O'NEILL	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
PAUL GRMOLJEZ MD	TRUSTEE	2.00	Director	$0	$0	$0
DIDI AUGUSTINE PECCIA	TRUSTEE	2.00	Director	$0	$0	$0
DR JOHN CECH	PRESIDENT/EX-OFFICIO	40.00	Officer	$283,836	$34,793	$318,629
LORI PETERSON	V.P. FINANCE & ADMINISTRAT	40.00	Key Emp	$182,529	$23,579	$206,108
JENNIFER GLOWIENKA	V.P. FOR ACADEMIC AFFAIRS	40.00	Highest	$158,269	$22,380	$180,649
LAUREN SWANT	DIRECTOR OF NURSING	40.00	Highest	$125,822	$6,572	$132,394
JAMES PETROVICH	DIRECTOR MASTERS OF SOCIAL	40.00	Highest	$132,817	$14,984	$147,801
CHARLES GROSS	DIRECTOR, ATHLETICS	40.00	Highest	$145,854	$30,646	$176,500
KATHLEEN O'LEARY	VICE PRESIDENT, STUDENT EN	40.00	Highest	$157,404	$8,308	$165,712

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	$73,077,952	$70,479,479	$159,898,866	$2,598,473
2024	$75,695,875	$70,614,677	$153,021,793	$5,081,198
2023	$66,514,020	$64,931,468	$140,839,354	$1,582,552
2022	$65,024,048	$62,060,628	$136,506,006	$2,963,420
2021	$63,598,809	$58,054,766	$143,834,789	$5,544,043
2020	$64,086,619	$59,040,779	$125,734,988	$5,045,840
2019	$61,222,792	$59,993,385	$124,355,686	$1,229,407