PALMER COLLEGE OF CHIROPRACTIC WEST

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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

1978

Legal Domicile

Principal Officer

DENNIS MARCHIORI DC PHD

Phone

4089446000

Tax Period

2024-07-01 to 2025-06-30

PALMER COLLEGE OF CHIROPRACTIC WEST, founded in 1978, is a small nonprofit that reported $594K in total revenue in fiscal year 2024. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $6.6M exceeded revenue, resulting in a 1006% operating deficit.

Mission

PROMOTE LEARNING, DELIVER HEALTH CARE, ENGAGE OUR COMMUNITIES AND ADVANCE KNOWLEDGE THROUGH RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $4,212,038 Revenue: $1,628,976

PALMER COLLEGE EDUCATES STUDENTS WITH A DOCTOR OF CHIROPRACTIC DEGREE. STUDENTS ARE PROVIDED CLASSROOM AND LAB INSTRUCTION TO LEARN THE SCIENCE, ART AND PHILOSOPHY OF CHIROPRACTIC. THE CAMPUS WAS...

PALMER COLLEGE EDUCATES STUDENTS WITH A DOCTOR OF CHIROPRACTIC DEGREE. STUDENTS ARE PROVIDED CLASSROOM AND LAB INSTRUCTION TO LEARN THE SCIENCE, ART AND PHILOSOPHY OF CHIROPRACTIC. THE CAMPUS WAS PHASED OUT IN FY25 WITH THE LAST CLASS GRADUATING IN MARCH 2025.

Program 2

Expenses: $1,144,887 Revenue: $120,692

PALMER COLLEGE OPERATES CHIROPRACTIC CLINICS TO EXTEND THE STUDENT EDUCATION FROM THE CLASSROOM TO DIRECT PATIENT CARE. THE DOCTOR OF CHIROPRACTIC DEGREE IS A 13 QUARTER PROGRAM OF WHICH...

PALMER COLLEGE OPERATES CHIROPRACTIC CLINICS TO EXTEND THE STUDENT EDUCATION FROM THE CLASSROOM TO DIRECT PATIENT CARE. THE DOCTOR OF CHIROPRACTIC DEGREE IS A 13 QUARTER PROGRAM OF WHICH APPROXIMATELY THE FINAL 1/4TH IS SPENT IN THE CLINIC SETTING WORKING WITH PATIENTS. STUDENT TUITION REPORTED ABOVE IS USED TO OFFSET THE COST OF CLINIC OPERATIONS.

Program 3

Expenses: $200,284

AUXILIARY ENTERPRISES AND ACTIVITIES RELATED TO OPERATION OF BOOKSTORE, CAFETERIA, PRINT SHOP, AND CONTINUING EDUCATION PROGRAMS.

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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 $21,615

Program Service Revenue $1,749,668

Investment Income $-775,366

Other Revenue $-402,301

TOTAL REVENUE $593,616

Expense Breakdown

Grants Paid $169,213

Salaries & Benefits $2,961,886

Fundraising Expenses $0

Program Expenses $5,557,209

Other Expenses $3,434,547

TOTAL EXPENSES $6,565,646

Year-over-Year Comparison

	2024	2023	Change
Revenue	$593,616	$6,509,241	-0.9%
Expenses	$6,565,646	$8,679,521	-0.2%
Net Income	$-5,972,030	$-2,170,280	+1.8%

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

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

$1,686,104

Total Directors

$8,490

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TREVOR V IRELAND DC	TRUSTEE/CHAIRPERSON	10.00	Officer Director	$0	$0	$0
PAUL VANDUYNE PE DC	TRUSTEE/VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
VICKIE A PALMER HCD	TRUSTEE/SECRETARY GENERAL	1.00	Officer Director	$0	$0	$0
DON BETZ PHD	TRUSTEE	1.00	Director	$0	$0	$1,485
MICHAEL CHANCE DC	TRUSTEE	1.00	Director	$0	$0	$2,784
DONNA CRAFT DC	TRUSTEE	1.00	Director	$0	$0	$0
DONALD DOUCETTE PHD	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN HATFIELD PHD	TRUSTEE	1.00	Director	$0	$0	$658
NATHAN HINKELDEY DC DACRB	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES KELLER DC MA	TRUSTEE	1.00	Director	$0	$0	$0
KENNETH R KOUPAL	TRUSTEE/INTERIM ASST SEC GENERAL	1.00	Officer Director	$0	$0	$1,099
KENT PILCHER	TRUSTEE	1.00	Director	$0	$0	$2,464
DENNIS MARCHIORI DC PHD	PRESIDENT/CHANCELLOR	10.00	Officer	$0	$129,174	$1,336,440
JENNIFER RANDAZZO	TREASURER	10.00	Officer	$0	$108,156	$348,565
GREGORY SNOW	DEAN	40.00	Highest	$221,548	$21,267	$242,815
BRIAN NOOK	ASSOC DEAN	40.00	Highest	$144,016	$39,789	$183,805
THERESE REANEY-COOK	ASSOC CLINICAL PROF. (THRU 12/24)	40.00	Highest	$162,369	$22,228	$184,597
ARDEN LAWSON-HENZE	ASSOC CLINICAL PROF. (THRU 12/24)	40.00	Highest	$149,656	$48,562	$198,218
RACHEL FROZENFAR	ASSOC CLINICAL PROF. (THRU 09/24)	40.00	Highest	$147,128	$24,449	$171,577

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	$593,616	$6,565,646	$6,962,389	$-5,972,030
2024	$6,509,241	$8,679,521	$14,671,306	$-2,170,280
2023	$9,690,022	$9,345,029	$18,521,572	$344,993
2022	$14,589,852	$11,961,732	$15,332,281	$2,628,120
2021	$13,979,062	$12,436,037	$14,453,903	$1,543,025
2020	$13,430,875	$13,015,157	$12,919,049	$415,718
2019	$13,407,146	$12,761,823	$11,450,918	$645,323
2018	$13,531,270	$12,686,769	$10,751,674	$844,501