BOARD OF TRUSTEES OF WHITMAN COLLEGE (EIN 910567740) - 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

1859

Legal Domicile

Principal Officer

SARAH BOLTON

Phone

5095275411

Tax Period

2023-07-01 to 2024-06-30

BOARD OF TRUSTEES OF WHITMAN COLLEGE, founded in 1859, is a major nonprofit in the Education sector that reported $169.3M in total revenue in fiscal year 2023. Net assets of $973.1M represent 69 months of operating reserves.

Mission

PROVIDE A RIGOROUS LIBERAL ARTS EDUCATION TO PASSIONATE, ENGAGED STUDENTS FROM DIVERSE BACKGROUNDS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $31,060,755

Program Service Revenue $107,622,875

Investment Income $29,196,087

Other Revenue $1,409,377

TOTAL REVENUE $169,289,094

Expense Breakdown

Grants Paid $48,081,812

Salaries & Benefits $57,976,211

Fundraising Expenses $4,577,169

Program Expenses $136,128,247

Other Expenses $64,113,702

TOTAL EXPENSES $170,171,725

Year-over-Year Comparison

	2023	2022	Change
Revenue	$169,289,094	$163,932,972	+0.0%
Expenses	$170,171,725	$155,562,893	+0.1%
Net Income	$-882,631	$8,370,079	-1.1%

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

1687

Volunteers

772

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

$806,955

Total Directors

Key Employees

$1,801,882

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARAH R BOLTON	PRESIDENT	40.00	Officer	$521,002	$68,110	$589,112
KAZIPUTALIMBA JOSHUA	VP STUDENT AFFAIRS/DEAN OF STUDENTS	40.00	Key Emp	$203,347	$124,374	$327,721
STEVEN J SETCHELL	VP DEVELOPMENT AND ALUMNI RELATIONS	40.00	Key Emp	$279,212	$37,554	$316,766
ALZADA TIPTON	PROVOST AND DEAN OF FACULTY	40.00	Key Emp	$244,712	$50,909	$295,621
ADAM MILLER	VP FOR ADMISSION & FINANCIAL AID	40.00	Key Emp	$177,190	$47,336	$224,526
JOHN JOHNSON	VP DIVERSITY AND INCLUSION	40.00	Key Emp	$191,972	$29,003	$220,975
DAVID J HAMRICK	CHIEF FINANCIAL OFFICER	40.00	Officer	$196,640	$21,203	$217,843
DAN TERRIO	CHIEF INFORMATION OFFICER	40.00	Key Emp	$180,170	$37,512	$217,682
PATRICK SPENCER	FACULTY	40.00	Highest	$181,695	$30,475	$212,170
GINA OHNSTAD	VP FOR COMMUNICATIONS	40.00	Key Emp	$171,608	$26,983	$198,591
SCOTT KLEINHEKSEL	ASSOCIATE VP FOR DEVELOPMENT	40.00	Highest	$171,498	$26,984	$198,482
HELEN KIM	ASSOCIATE DEAN/ACADEMIC AFFAIRS	40.00	Highest	$153,938	$36,434	$190,372
KIMBERLY CHANDLER	DIRECTOR OF ATHLETICS, DEP	40.00	Highest	$160,449	$15,947	$176,396
PATRICK KEEF	FACULTY	40.00	Highest	$157,004	$18,946	$175,950
PETER W HARVEY	CHIEF FINANCIAL OFFICER (THRU 05/23)	40.00		$121,507	$30,173	$151,680
JOSEPH C DAVIS	CHAIR	1.00	Officer Director	$0	$0	$0
DANA REID	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DANIELLE GARBE RESER	TRUSTEE	1.00	Director	$0	$0	$0
MARK KAJITA	TRUSTEE	1.00	Director	$0	$0	$0
GORDON KEANE JR	TRUSTEE	1.00	Director	$0	$0	$0
PETER LEWIS	TRUSTEE	1.00	Director	$0	$0	$0
LEIGH ANN LUCERO	TRUSTEE	1.00	Director	$0	$0	$0
MARSHAL MCREAL	TRUSTEE	1.00	Director	$0	$0	$0
NATHANIAL MILES	TRUSTEE	1.00	Director	$0	$0	$0
TRICIA PUTNAM MONTEGOMERY	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM R NEFF	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES NELSON	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH OBERSHAW	TRUSTEE	1.00	Director	$0	$0	$0
AARON PERRINE	TRUSTEE	1.00	Director	$0	$0	$0
CHARLEY ROSENBERRY	TRUSTEE	1.00	Director	$0	$0	$0
NANCY SERRURIER	TRUSTEE	1.00	Director	$0	$0	$0
DREW SHOALS	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN SPOSATO	TRUSTEE	1.00	Director	$0	$0	$0
SARAH WANG	TRUSTEE	1.00	Director	$0	$0	$0
ANN WATSON	TRUSTEE	1.00	Director	$0	$0	$0
COURT WYCKOFF	TRUSTEE	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	$169,289,094	$170,171,725	$1,127,657,156	$-882,631
2023	$163,932,972	$155,562,893	$1,016,276,452	$8,370,079
2022	$156,027,596	$133,785,938	$951,754,815	$22,241,658
2021	$127,396,479	$155,294,230	$1,131,583,451	$-27,897,751
2020	$138,234,648	$143,696,366	$862,054,875	$-5,461,718
2019	$120,214,335	$131,973,534	$834,429,146	$-11,759,199
2018	$119,534,089	$127,464,193	$815,697,131	$-7,930,104

BOARD OF TRUSTEES OF WHITMAN COLLEGE