CAL POLY HUMBOLDT FOUNDATION

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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

1928

Legal Domicile

Principal Officer

STEVE KARP

Phone

7078265200

Tax Period

2024-07-01 to 2025-06-30

CAL POLY HUMBOLDT FOUNDATION, founded in 1928, is a mid-sized nonprofit in the Education sector that reported $15.9M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $15.3M left a modest 4% surplus.

Mission

THE CAL POLY HUMBOLDT FOUNDATION PROVIDES EXPERTISE, FIDUCIARY OVERSIGHT AND ADVOCACY TO INCREASE CHARITABLE GIVING AND MANAGE THE ENDOWMENT AND OTHER CHARITABLE FUNDS. THE FOUNDATION SERVES HUMBOLDT STATE UNIVERSITY IN SEVERAL WAYS: 1. STEWARD ASSETS - ENSURE THAT CONTRIBUTIONS ARE WELL INVESTED AND USED AS DONORS INTEND.2. DEPLOY ASSETS - ENSURE THAT CONTRIBUTED FUNDS ARE EFFICIENTLY DISTRIBUTED AND PRODUCTIVELY USED BY THE UNIVERSITY. 3. RAISE NEW ASSETS - ENGAGE IN THE FUNDRAISING PROCESS IN ORDER TO INCREASE AMOUNT AND QUALITY OF CHARITABLE CONTRIBUTIONS TO THE UNIVERSITY. 4. STRATEGIC ALIGNMENT - BE FAMILIAR WITH THE STRATEGIES AND DIRECTIONS OF THE UNIVERSITY AND PROVIDE COMMENTARY AND FEEDBACK TO UNIVERSITY LEADERSHIP. 5. ADVOCACY - SERVE AS SPOKESPERSON AND AMBASSADORS FOR THE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $14,422,545 Revenue: $1,611,740

SERVICES INCLUDE FORWARDING EARNINGS TO 189 SCHOLARSHIP FUNDS AND 76 CAMPUS PROGRAMS IN COMPLIANCE WITH ENDOWMENT RESTRICTIONS; ADMINISTERING 355 CHARITABLE ACCOUNTS DEDICATED TO UNIVERSITY PURPOSES...

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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 $9,160,192

Program Service Revenue $1,611,740

Investment Income $5,123,146

Other Revenue $6,626

TOTAL REVENUE $15,901,704

Expense Breakdown

Grants Paid $12,188,296

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $14,422,545

Other Expenses $3,096,592

TOTAL EXPENSES $15,284,888

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,901,704	$17,318,140	-0.1%
Expenses	$15,284,888	$10,471,051	+0.5%
Net Income	$616,816	$6,847,089	-0.9%

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

$780,763

Total Directors

$1,780,180

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERIE GORDON	STAFF REPRESENTATIVE THRU 05/25	1.00	Director	$0	$72,171	$369,337
FRANK WHITLATCH	EXEC DIRECTOR & SECRETARY THRU 07/24	19.50	Officer Director	$0	$80,061	$329,506
MIKE FISHER	STAFF REPRESENTATIVE	1.00	Director	$0	$92,260	$299,553
MARK JOHNSON	EXEC DIRECTOR & SECRETARY THRU 06/25	40.00	Officer Director	$0	$45,126	$242,786
STEVE KARP	EXEC DIRECTOR & SECRETARY	40.00	Officer Director	$0	$57,163	$208,471
EDEN DONAHUE	FACULTY REPRESENTATIVE	1.00	Director	$0	$67,081	$196,081
MICHAEL SPAGNA	CAL POLY PRESIDENT	1.00	Director	$0	$33,885	$129,364
JORDAN KEMME	STUDENT REPRESENTATIVE	1.00	Director	$0	$0	$5,082
JACK MCGURK	CHAIR	1.00	Officer Director	$0	$0	$0
JASON CARLSON	TREASURER	1.00	Officer Director	$0	$0	$0
ROBIN SMITH	MEMBER, PAST CHAIR	1.00	Director	$0	$0	$0
PHILIP ANTON	MEMBER	1.00	Director	$0	$0	$0
JOHN BALLARD	MEMBER	1.00	Director	$0	$0	$0
ROBIN QUIGLEY	MEMBER	1.00	Director	$0	$0	$0
SHERMAN SCHAPIRO	MEMBER	1.00	Director	$0	$0	$0
DAN PHILLIPS	MEMBER	1.00	Director	$0	$0	$0
JENNIFER KELLER	MEMBER	1.00	Director	$0	$0	$0
CARIN KALTSCHMIDT	MEMBER	1.00	Director	$0	$0	$0
SCOTT HUNT	MEMBER	1.00	Director	$0	$0	$0
KEN FULGHAM	MEMBER	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	$15,901,704	$15,284,888	$70,524,170	$616,816
2024	$17,318,140	$10,471,051	$67,694,266	$6,847,089
2023	$10,878,555	$10,477,277	$59,513,876	$401,278
2022	$13,924,277	$6,503,424	$57,544,376	$7,420,853
2021	$12,286,352	$6,528,932	$52,663,173	$5,757,420
2020	$9,188,637	$5,428,573	$39,612,586	$3,760,064
2018	$6,159,047	$5,515,334	$37,510,744	$643,713