SPARTAN SHOPS INC

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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

1956

Legal Domicile

Principal Officer

SARA BONAKDER

Phone

4089241901

Tax Period

2024-07-01 to 2025-06-30

SPARTAN SHOPS INC, founded in 1956, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $915K, a strong 17% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE AND MANAGE THE CAMPUS BOOKSTORE, DINING SERVICES AND CERTAIN REAL ESTATE PROPERTIES. SPARTAN SHOPS HAS AN AGREEMENT WITH BARNES & NOBLE COLLEGE BOOKSELLERS ("BARNES & NOBLE") FOR THE DAILY OPERATION OF THE SPARTAN BOOKSTORE AND WITH CHARTWELLS HIGHER EDUCATION ("CHARTWELLS") TO PROVIDE ALL DINING SERVICES TO THE SAN JOSE STATE UNIVERSITY ("SJSU") CAMPUS. SPARTAN SHOPS HOLDS AND ADMINISTERS ASSETS FOR THE ORGANIZATION'S OTHER POST-EMPLOYMENT BENEFITS ("OPEB") PLAN IN A FIDUCIARY FUND.

Program Service Accomplishments

Program 1

Expenses: $2,933,994 Revenue: $4,018,240

SPARTAN SHOPS ENTERED INTO AN AGREEMENT WITH CHARTWELLS HIGHER EDUCATION ("CHARTWELLS"), A DIVISION OF COMPASS GROUP USA, INC., TO MANAGE ALL FOOD PREPARATION AND SERVICE PROGRAMS ON BEHALF OF SJSU. THEREFORE, CHARTWELLS HAS SERVED AS SJSU'S EXCLUSIVE FOOD SERVICE PROVIDER SINCE 2018. AS PART OF THIS AGREEMENT, CHARTWELLS PROVIDES RESIDENTIAL DINING SERVICES IN OUR DINING COMMONS, A FOOD COURT AND RETAIL WITHIN THE DIAZ COMPEAN STUDENT UNION, TWO MARKETS, CONCESSIONS IN THE PROVIDENT CREDIT UNION EVENT CENTER AND SOUTH CAMPUS ATHLETICS FACILITIES, AS WELL AS CATERING ON THE MAIN CAMPUS, SOUTH CAMPUS, AND THE HAMMER THEATRE.

Program 2

Expenses: $353,287 Revenue: $391,733

PROVIDE HOUSING SERVICES FOR THE BENEFIT AND CONVENIENCE OF THE UNIVERSITY COMMUNITY. WE OWN AND OFFER 13 BELOW MARKET RATE RENTAL HOUSING UNITS FOR FACULTY AND STAFF.

Program 3

Expenses: $134,354 Revenue: $633,143

MANAGE SPARTAN BOOKSTORE. SPARTAN BOOKSTORE PROVIDES COURSE MATERIALS, ELECTRONIC GOODS, RETAIL MERCHANDISE, UNIVERSITY BRANDED GOODS AND SCHOOL SUPPLIES TO THE SJSU CAMPUS COMMUNITY.

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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 $10,000

Program Service Revenue $5,043,048

Investment Income $294,188

Other Revenue $8,727

TOTAL REVENUE $5,355,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,421,635

Other Expenses $4,441,085

TOTAL EXPENSES $4,441,085

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,355,963	$3,831,932	+0.4%
Expenses	$4,441,085	$4,594,411	0.0%
Net Income	$914,878	$-762,479	-2.2%

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

N/A

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

$462,510

Total Directors

$793,231

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARIANA LACSON	DIRECTOR	0.10	Director	$0	$0	$0
BILL CAMPSEY	SECRETARY AND TREASURER	0.10	Officer Director	$0	$0	$65,051
CHARLIE FAAS	PRESIDENT/INTERIM BOARD CHAIR	0.10	Officer Director	$0	$81,777	$397,459
JULIE STONE	DIRECTOR	0.10	Director	$0	$0	$0
MARI FUENTES-MARTIN	DIRECTOR	0.10	Director	$0	$73,909	$330,721

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	$5,355,963	$4,441,085	$21,795,752	$914,878
2024	$3,831,932	$4,594,411	$17,682,112	$-762,479
2023	$3,271,322	$6,034,812	$19,500,091	$-2,763,490
2022	$2,509,361	$3,135,836	$18,597,856	$-626,475
2021	$4,519,374	$7,542,768	$18,843,295	$-3,023,394
2020	$5,221,094	$6,318,350	$16,336,147	$-1,097,256
2019	$3,214,923	$6,845,505	$15,776,765	$-3,630,582
2018	$30,007,167	$28,990,439	$13,861,437	$1,016,728