THE UNIVERSITY OF PUGET SOUND (EIN 910564961) - 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

1888

Legal Domicile

Principal Officer

ISIAAH CRAWFORD

Phone

2538793224

Tax Period

2024-07-01 to 2025-06-30

THE UNIVERSITY OF PUGET SOUND, founded in 1888, is a major nonprofit in the Education sector that reported $145.8M in total revenue in fiscal year 2024. Expenses of $175.9M exceeded revenue, resulting in a 21% operating deficit.

Mission

DEVELOP STUDENTS TO SUSTAIN INTELLECTUAL CURIOSITY, ACTIVE INQUIRY, & REASONED INDEPENDENCE

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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 $9,737,564

Program Service Revenue $134,050,729

Investment Income $1,978,050

Other Revenue $0

TOTAL REVENUE $145,766,343

Expense Breakdown

Grants Paid $59,098,794

Salaries & Benefits $74,118,791

Fundraising Expenses $4,186,745

Program Expenses $157,225,755

Other Expenses $42,729,773

TOTAL EXPENSES $175,947,358

Year-over-Year Comparison

	2024	2023	Change
Revenue	$145,766,343	$151,551,518	0.0%
Expenses	$175,947,358	$166,535,068	+0.1%
Net Income	$-30,181,015	$-14,983,550	+1.0%

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

2115

Volunteers

899

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

$3,316,838

Total Directors

$763,683

Key Employees

$203,128

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ISIAAH CRAWFORD	PRESIDENT & TRUSTEE	40.00	Officer Director	$587,755	$175,928	$763,683
KIM KVAAL	EXECUTIVE VICE PRESIDENT & CFO	40.00	Officer	$373,401	$79,274	$452,675
VICTOR MARTIN	VP FOR UNIVERSITY RELATIONS	40.00	Officer	$358,836	$71,404	$430,240
JOANNA CAREY CLEVELAND	VP GENERAL COUNSEL	40.00	Officer	$299,466	$62,824	$362,290
ERIC ORLIN	FACULTY (THRU 6/24)	40.00	Highest	$321,830	$8,630	$330,460
CAROLYN WEISZ	FACULTY (THRU 6/24)	40.00	Highest	$317,707	$12,552	$330,259
ANDREW KERKHOFF	PROVOST	40.00	Officer	$286,340	$38,044	$324,384
BRADLEY RICHARDS	FACULTY (THRU 6/24)	40.00	Highest	$292,885	$17,749	$310,634
LESLIE SAUCEDO	FACULTY (THRU 6/24)	40.00	Highest	$287,512	$12,290	$299,802
SARAH COMSTOCK	VP FOR STUDENT AFFAIRS & DEAN OF STUDENTS	40.00	Officer	$227,072	$46,394	$273,466
LORNA HERNANDEZ JARVIS	VP INSTITUTIONAL EQUITY & DIVERSITY	40.00	Officer	$200,583	$31,739	$232,322
FRANCISCO CHAVEZ	CHIEF INFORMATION OFFICER	40.00	Highest	$202,295	$21,739	$224,034
ROBERT KIEF	AVP FOR FACILITIES SERVICES	40.00	Key Emp	$171,887	$31,241	$203,128
NICK KONTOGEORGOPOULOS	FORMER INTERIM PROVOST	40.00		$170,285	$18,831	$189,116
JANET HALLMAN	AVP FINANCIAL PLANNING & SERVICES	40.00	Officer	$152,449	$19,150	$171,599
JUSTINE LEVESQUE	AVP FOR FINANCE	40.00	Officer	$143,290	$25,551	$168,841
LAURA BEHLING	FORMER PROVOST	40.00		$137,671	$16,976	$154,647
MATTHEW BOYCE	VP FOR ENROLLMENT (THRU 7/24)	40.00	Officer	$122,920	$14,418	$137,338
TIMOTHY WHITTUM	VP FOR ENROLLMENT (FROM 1/25)	40.00	Officer	$0	$0	$0
BETH M PICARDO '83 JD '86	TRUSTEE, CHAIR	2.30	Officer Director	$0	$0	$0
KENNETH WILLMAN '82P'15P'18	TRUSTEE, VICE CHAIR	2.30	Officer Director	$0	$0	$0
SHELLY J HEIER '98	TRUSTEE, TREASURER	2.30	Officer Director	$0	$0	$0
MICHAEL W AMEND '86	TRUSTEE	2.30	Director	$0	$0	$0
MARIA A ARELLANO '86	TRUSTEE	2.30	Director	$0	$0	$0
HEIDI B BROCK '85	TRUSTEE	2.30	Director	$0	$0	$0
WILLIAM M CANFIELD '76 P'08	TRUSTEE	2.30	Director	$0	$0	$0
MITZI W CARLETTI '78	TRUSTEE	2.30	Director	$0	$0	$0
RYAN W DUMM '07	TRUSTEE	2.30	Director	$0	$0	$0
KATHLEEN M DUNCAN '82	TRUSTEE	2.30	Director	$0	$0	$0
EMILY S EHRENS '14	TRUSTEE	2.30	Director	$0	$0	$0
BRIAN R GROSS '98	TRUSTEE	2.30	Director	$0	$0	$0
FRED W GRIMM '78	TRUSTEE	2.30	Director	$0	$0	$0
SCOTT H HIGASHI '91	TRUSTEE	2.30	Director	$0	$0	$0
LAURA INVEEN '76	TRUSTEE	2.30	Director	$0	$0	$0
KAREN V JENKINS-JOHNSON '82	TRUSTEE	2.30	Director	$0	$0	$0
SARAH L LEE '94	TRUSTEE	2.30	Director	$0	$0	$0
GWENDOLYN H LILLIS P'05	TRUSTEE	2.30	Director	$0	$0	$0
RYAN E MCANINCH '06	TRUSTEE	2.30	Director	$0	$0	$0
SUNSHINE A MORRISON '94	TRUSTEE	2.30	Director	$0	$0	$0
CHRISTOPHER R POHLAD '07	TRUSTEE	2.30	Director	$0	$0	$0
LYLE QUASIM '70 HON '05	TRUSTEE	2.30	Director	$0	$0	$0
ERIN SHAGREN '88 P'17	TRUSTEE	2.30	Director	$0	$0	$0
JAMILIA J SHERLS '05	TRUSTEE	2.30	Director	$0	$0	$0
BETSY C STONE '79 P'14	TRUSTEE	2.30	Director	$0	$0	$0
BRUCE L TITCOMB '80 P'13	TRUSTEE	2.30	Director	$0	$0	$0
NICHOLAS D VASILIUS '07	TRUSTEE	2.30	Director	$0	$0	$0
ERIK A WALLACE '96	TRUSTEE	2.30	Director	$0	$0	$0
DAVID J WATSON '92	TRUSTEE	2.30	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	$145,766,343	$175,947,358	$760,278,728	$-30,181,015
2024	No data	No data	No data	No data
2023	$157,193,130	$165,146,500	$731,731,932	$-7,953,370
2022	$155,039,563	$165,918,914	$709,727,010	$-10,879,351
2021	$141,184,806	$155,195,070	$771,350,547	$-14,010,264
2020	$176,238,423	$174,393,417	$689,366,995	$1,845,006
2019	$169,068,725	$172,123,742	$688,553,564	$-3,055,017
2018	$169,466,955	$170,743,403	$675,066,857	$-1,276,448

THE UNIVERSITY OF PUGET SOUND