AZUSA PACIFIC UNIVERSITY

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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

1947

Legal Domicile

Principal Officer

ADAM MORRIS

Phone

6268156000

Tax Period

2024-07-01 to 2025-06-30

AZUSA PACIFIC UNIVERSITY, founded in 1947, is a major nonprofit in the Education sector that reported $229.1M in total revenue in fiscal year 2024.

Mission

APU IS AN EVANGELICAL CHRISTIAN COMMUNITY OF DISCIPLES AND SCHOLARS WHO SEEK TO ADVANCE THE WORK OF GOD THROUGH ACADEMIC EXCELLENCE IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS OF HIGHER EDUCATION THAT ENCOURAGE DEVELOPMENT OF A CHRISTIAN PERSPECTIVE OF TRUTH AND LIFE.

Program Service Accomplishments

Program 1

Expenses: $197,481,503 Revenue: $174,152,703

TUITION & FEES: AZUSA PACIFIC UNIVERSITY IS AN EVANGELICAL CHRISTIAN COMMUNITY OF DISCIPLES AND SCHOLARS WHO SEEK TO ADVANCE THE WORK OF GOD IN THE WORLD THROUGH ACADEMIC EXCELLENCE IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS OF HIGHER EDUCATION THAT ENCOURAGE STUDENTS TO DEVELOP A CHRISTIAN PERSPECTIVE OF TRUTH AND LIFE. WITH 59 BACHELOR'S DEGREES, 37 MASTER'S DEGREES, 27 CERTIFICATES, 8 CREDENTIALS, AND 7 DOCTORAL PROGRAMS, THE UNIVERSITY OFFERS ITS MORE THAN 6,200 STUDENTS A QUALITY EDUCATION ON CAMPUS, ONLINE, AND AT SIX REGIONAL CENTERS THROUGHOUT SOUTHERN CALIFORNIA.

Program 2

Expenses: $8,174,513 Revenue: $18,834,712

AUXILIARY ENTERPRISES & OTHER PROGRAM REVENUE: THE UNIVERSITY PROVIDES, IN ADDITION TO QUALITY INSTRUCTION, STUDENT LIFE PROGRAMS, FACILITIES FOR THE STUDENTS, AND ACTIVITIES TO FURTHER PROMOTE THE...

Program 3

Expenses: $302,501 Revenue: $178,564

OUTREACH MINISTRIES: OUTREACH MINISTRIES HELP THE UNIVERSITY FULFILL ITS MISSION OF ADVANCING THE WORK OF GOD IN THE WORLD AND ENCOURAGING STUDENTS TO DEVELOP A CHRISTIAN PERSPECTIVE OF TRUTH AND...

OUTREACH MINISTRIES: OUTREACH MINISTRIES HELP THE UNIVERSITY FULFILL ITS MISSION OF ADVANCING THE WORK OF GOD IN THE WORLD AND ENCOURAGING STUDENTS TO DEVELOP A CHRISTIAN PERSPECTIVE OF TRUTH AND LIFE. THE INSTITUTE FOR OUTREACH MINISTRIES FACILITATES TRIPS TO OTHER COUNTRIES.

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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 $28,400,327

Program Service Revenue $193,998,998

Investment Income $6,715,360

Other Revenue $-39,273

TOTAL REVENUE $229,075,412

Expense Breakdown

Grants Paid $57,079,180

Salaries & Benefits $110,171,099

Fundraising Expenses $4,147,000

Program Expenses $205,958,517

Other Expenses $70,116,263

TOTAL EXPENSES $237,377,590

Year-over-Year Comparison

	2024	2023	Change
Revenue	$229,075,412	$219,587,773	+0.0%
Expenses	$237,377,590	$237,136,762	+0.0%
Net Income	$-8,302,178	$-17,548,989	-0.5%

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

2959

Volunteers

141

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

$1,328,472

Total Directors

Key Employees

$1,885,245

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY ACOSTA	TRUSTEE	1.00	Director	$0	$0	$0
JESUS ARRIAGA	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEWS CHACKO	TRUSTEE	1.00	Director	$0	$0	$0
LYNETTE ILERTSEN	TRUSTEE	1.00	Director	$0	$0	$0
RAY JOHNSTON	TRUSTEE	1.00	Director	$0	$0	$0
RICH LINK	TRUSTEE	1.00	Director	$0	$0	$0
CATHY MCINTYRE	TRUSTEE	1.00	Director	$0	$0	$0
LUCIE MOORE	CHAIR	1.00	Director	$0	$0	$0
KELLI O'GORMAN	TRUSTEE	1.00	Director	$0	$0	$0
STEVE PERRY	TRUSTEE	1.00	Director	$0	$0	$0
LINDSEY REHFELD	TRUSTEE	1.00	Director	$0	$0	$0
RISHI SRIRAM	TRUSTEE	1.00	Director	$0	$0	$0
TIM STRIPE	TRUSTEE	1.00	Director	$0	$0	$0
ROB TIEDE	TRUSTEE	1.00	Director	$0	$0	$0
LARRY WALKEMEYER	TRUSTEE	1.00	Director	$0	$0	$0
ADAM MORRIS	PRESIDENT	40.00	Officer	$602,365	$38,811	$641,176
AARON DAHLKE	VP FINANCE & ADMIN/CFO	40.00	Officer	$356,206	$52,773	$408,979
JAMES BUCKLEY	SECRETARY/GENERAL COUNSEL	40.00	Officer	$233,242	$45,075	$278,317
ANDREW BARTON	VP OF ADVANCEMENT (PART YEAR)	40.00	Key Emp	$252,795	$28,905	$281,700
ANITA HENCK	PROVOST/DEAN - SCHOOL OF EDUCATION	40.00	Key Emp	$306,025	$26,463	$332,488
DAVID SHYNN	VP/CHIEF STRATEGY OFFICER	40.00	Key Emp	$231,575	$11,597	$243,172
KEITH HALL	VP STUDENT BELONGING	40.00	Key Emp	$206,576	$35,172	$241,748
MICHAEL WHITE	VP OF ENROLLMENT MANAGEMENT (PART YEAR)	40.00	Key Emp	$250,301	$43,339	$293,640
MAUREEN TAYLOR	VP OF STRATEGIC COMMUNICATION & ENGAGEMENT	40.00	Key Emp	$205,233	$41,866	$247,099
RENEE POZZA	DEAN, COLLEGE OF HEALTH AND SCIENCES	40.00	Key Emp	$235,500	$9,898	$245,398
SCOTT MARTIN	ASSOCIATE VP OF FINANCE (PART YEAR)	40.00	Highest	$227,369	$44,394	$271,763
STANTON TODD EMERSON	DOCTOR, STUDENT HEALTH CENTER	40.00	Highest	$174,157	$40,676	$214,833
JOHN BAUGUS	AVP, HUMAN RESOURCES	40.00	Highest	$181,512	$19,048	$200,560
DAVID WEEKS	DEAN, HONORS COLLEGE	40.00	Highest	$192,565	$32,083	$224,648
JOE DESUTA	CIO	40.00	Highest	$180,600	$24,088	$204,688
MONICA BOUTROS	FORMER ASSOCIATE GENERAL COUNSEL	0.00		$107,790	$3,495	$111,285

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	$229,075,412	$237,377,590	$395,786,472	$-8,302,178
2024	$219,587,773	$237,136,762	$402,249,367	$-17,548,989
2023	$301,793,707	$254,200,939	$417,350,965	$47,592,768
2022	$273,144,020	$274,092,713	$364,665,569	$-948,693
2021	$284,701,299	$282,230,496	$393,054,985	$2,470,803
2020	$298,077,591	$304,587,632	$352,158,662	$-6,510,041
2019	$327,646,128	$321,001,504	$354,808,843	$6,644,624
2018	$320,695,476	$336,017,086	$351,400,165	$-15,321,610