Wheaton College
- Assets
- $437.3m
- Revenue
- $180.2m
- Investments
- $115.8m
- Employees
- 1,474
- Location
- Norton, MA
- Founding
- 05/1950
- Data as of
- 06/2022
- EIN
- 04-2103638
Organization Overview
Wheaton College is located in Norton, MA. The organization was established in 1950. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Wheaton College employed 1,474 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wheaton College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Wheaton College generated $180.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $150.5m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WHEATON COLLEGE PROVIDES A TRANSFORMATIVE LIBERAL ARTS EDUCATION, COMBINING THEORY AND PRACTICE, FOR INTELLECTUALLY CURIOUS STUDENTS WITHIN A COLLABORATIVE AND VIBRANT EXTENDED COMMUNITY AND NETWORK THAT VALUES AND STRIVES TO CREATE AN EQUITABLE AND JUST WORLD.
Describe the Organization's Program Activity:
TO PROVIDE A TRANSFORMATIVE LIBERAL ARTS EDUCATION FOR INTELLECTUALLY CURIOUS STUDENTS IN A COLLABORATIVE, ACADEMICALLY VIBRANT RESIDENTIAL COMMUNITY THAT VALUES A DIVERSE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis M Hanno President Ex Officio Trustee (until 12/31/2021) | OfficerTrustee | 40 | $391,623 |
Kenneth Babby Trustee | Trustee | 2 | $0 |
Anson M Beard Jr Trustee | Trustee | 2 | $0 |
Priscilla Carey Trustee | Trustee | 2 | $0 |
Nancy Carlson Trustee | Trustee | 2 | $0 |
Maryann E Carroll Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Commodore Builders Construction Services | 6/29/22 | $19,708,212 |
Aramark Dining Services | 6/29/22 | $5,450,065 |
Cryan Landscaping Contractors Inc Landscaping Services | 6/29/22 | $796,531 |
Securitas Security Services Usa Inc Security Contracting | 6/29/22 | $910,346 |
Miller Dyer Spears Inc Architect Services | 6/29/22 | $739,053 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $30,845 |
| Related organizations | $0 |
| Government grants | $20,646,051 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,275,570 |
| Noncash contributions included in lines 1a–1f | $1,242,782 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,952,466 |
| Total Program Service Revenue | $117,639,364 |
| Investment income | $3,480,450 |
| Tax Exempt Bond Proceeds | $10,169 |
| Royalties | $0 |
| Net Rental Income | $304,337 |
| Net Gain/Loss on Asset Sales | $21,458,736 |
| Net Income from Fundraising Events | -$3,775 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $180,235,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $65,406,712 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,416,953 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,692,694 |
| Compensation of current officers, directors, key employees. | $1,195,683 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,210,339 |
| Pension plan accruals and contributions | $1,977,637 |
| Other employee benefits | $4,399,488 |
| Payroll taxes | $2,383,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $357,803 |
| Fees for services: Accounting | $156,089 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,275,231 |
| Fees for services: Other | $11,246,024 |
| Advertising and promotion | $713,273 |
| Office expenses | $836,402 |
| Information technology | $2,375,679 |
| Royalties | $0 |
| Occupancy | $2,911,968 |
| Travel | $772,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $120,713 |
| Interest | $2,870,768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,583,382 |
| Insurance | $669,641 |
| All other expenses | $1,340,468 |
| Total functional expenses | $150,515,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,069,961 |
| Savings and temporary cash investments | $14,072,713 |
| Pledges and grants receivable | $13,738,262 |
| Accounts receivable, net | $941,411 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,156,503 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,676,720 |
| Net Land, buildings, and equipment | $137,866,703 |
| Investments—publicly traded securities | $131,715,526 |
| Investments—other securities | $115,821,054 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,241,051 |
| Total assets | $437,299,904 |
| Accounts payable and accrued expenses | $9,477,174 |
| Grants payable | $0 |
| Deferred revenue | $1,376,507 |
| Tax-exempt bond liabilities | $86,350,601 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,264,958 |
| Total liabilities | $101,469,240 |
| Net assets without donor restrictions | $100,855,697 |
| Net assets with donor restrictions | $234,974,967 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $437,299,904 |