Naropa University (EIN 841029228) - Form 990 Financial Analysis & Trantor Score

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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

1974

Legal Domicile

Principal Officer

Charles Lief

Phone

3034440202

Tax Period

2022-07-01 to 2023-06-30

Naropa University, founded in 1974, is a mid-sized nonprofit that reported $31.9M in total revenue in fiscal year 2022. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $37.0M exceeded revenue, resulting in a 16% operating deficit.

Mission

Naropa University is North America's leading institution of contemplative education.

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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 $2,716,073

Program Service Revenue $29,114,426

Investment Income $25,729

Other Revenue $0

TOTAL REVENUE $31,856,228

Expense Breakdown

Grants Paid $7,103,557

Salaries & Benefits $18,675,290

Fundraising Expenses $361,833

Program Expenses $28,128,015

Other Expenses $11,237,667

TOTAL EXPENSES $37,016,514

Year-over-Year Comparison

	2022	2021	Change
Revenue	$31,856,228	$27,548,349	+0.2%
Expenses	$37,016,514	$26,098,295	+0.4%
Net Income	$-5,160,286	$1,450,054	-4.6%

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

656

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

$925,387

Total Directors

$513,770

Key Employees

$195,652

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charles Lief	President	40.00	Officer Director	$385,061	$128,709	$513,770
Tyler Kelsch-VP of Operations	/COO & CFO (until Oct 2022)	40.00	Officer	$193,466	$24,733	$218,199
Ann Marie Klotz-VP for Enroll	ment,Marketing & Student Success	40.00	Key Emp	$169,650	$26,002	$195,652
Sue Hammond West-Provost	& VP for Academic Affairs	40.00	Officer	$144,527	$48,891	$193,418
Linda Black	Dean of GSCP	40.00	Highest	$156,728	$20,565	$177,293
Regina Smith-VP for Mission	Culture & Inclusive Community	40.00	Highest	$118,217	$26,915	$145,132
Joy Valania	Special Advisor to President	40.00	Highest	$100,035	$4,931	$104,966
Ken Gotsch	COO & CFO (until June 2023)	40.00	Officer	$0	$0	$0
Tyler Norris	Chair	1.00	Officer Director	$0	$0	$0
Kendra Sandoval	Vice Chair	1.00	Officer Director	$0	$0	$0
Marty Janowitz	Trustee	1.00	Director	$0	$0	$0
Jerry Colonna	Trustee	1.00	Director	$0	$0	$0
Vijay Singh	Trustee	1.00	Director	$0	$0	$0
Lynne Katzmann	Trustee	1.00	Director	$0	$0	$0
Mark Wilding	Trustee	1.00	Director	$0	$0	$0
Judith Dack	Trustee	1.00	Director	$0	$0	$0
Samantha Sanderson	Trustee	1.00	Director	$0	$0	$0
Suzanne Benally	Trustee	1.00	Director	$0	$0	$0
David Chivers	Trustee	1.00	Director	$0	$0	$0
Stephanie Kaza	Trustee	1.00	Director	$0	$0	$0
Quan Nghe	Trustee	1.00	Director	$0	$0	$0
Dan Wolpert	Trustee	1.00	Director	$0	$0	$0
Joe Cassidy	Trustee	1.00	Director	$0	$0	$0
Vanessa Kelly	Trustee	1.00	Director	$0	$0	$0
Lori Laser	Trustee (from June 2023)	1.00	Director	$0	$0	$0
Tara Trujillo	Trustee (from June 2023)	1.00	Director	$0	$0	$0
Jacky Sabin	Trustee (from June 2023)	1.00	Director	$0	$0	$0
Mara Ferris	Trustee (from June 2023)	1.00	Director	$0	$0	$0
Lorenzo Gonzalez	Faculty Trustee (from Oct 2022)	1.00	Director	$0	$0	$0
Cam Bottoms	Student Trustee (until June 2023)	1.00	Director	$0	$0	$0
Carla Sherrell	Trustee (until Nov 2022)	1.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$31,856,228	$37,016,514	$35,216,612	$-5,160,286
2022	$27,548,349	$26,098,295	$33,451,644	$1,450,054
2021	$26,817,719	$29,528,589	$33,014,392	$-2,710,870
2021	$31,100,655	$29,344,153	$34,704,482	$1,756,502
2020	$30,673,226	$32,612,224	$28,388,817	$-1,938,998
2019	$27,898,596	$30,668,669	$28,822,829	$-2,770,073
2018	$29,824,567	$30,474,684	$31,187,329	$-650,117

Naropa University