Wesleyan University
- Assets
- $1.7b
- Revenue
- $326.6m
- Investments
- $503.0m
- Employees
- 3,382
- Location
- Middletown, CT
- Founding
- 04/1943
- Data as of
- 06/2020
- EIN
- 06-0646959
Organization Overview
Wesleyan University is located in Middletown, CT. The organization was established in 1943. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Wesleyan University employed 3,382 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesleyan University 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 06/2020, Wesleyan University generated $326.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $291.2m during the year ending 06/2020. While expenses have increased by 1.9% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE DESCRIPTION IN SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND RESEARCHWESLEYAN UNIVERSITY OFFERS MORE THAN 1,000 COURSES IN 45 MAJOR FIELDS OF STUDY, 32 MINOR FIELDS OF STUDY, AND 3 CERTIFICATES OF STUDY, AND AWARDS THE BACHELOR OF ARTS AND GRADUATE DEGREES. THE MASTER OF ARTS DEGREE AND THE DOCTOR OF PHILOSOPHY ARE REGULARLY AWARDED IN SIX FIELDS OF STUDY. IN ADDITION, STUDENTS MAY BE COUNTED UPON TO DEVISE, WITH THE FACULTY, SOME 800 INDIVIDUAL TUTORIALS AND LESSONS.INSTRUCTION AND RESEARCH INCLUDES ALL EXPENDITURES FOR COMPENSATION AND OTHER EXPENSES IN SUPPORT OF INSTRUCTIONAL ACTIVITY.- 710 BACHELOR OF ARTS AND 68 GRADUATE DEGREES WERE AWARDED IN 2020.- THE STUDENT BODY IS MADE UP OF APPROXIMATELY 3,200 STUDENTS FULL-TIME UNDERGRADUATES AND 140 GRADUATE STUDENTS, AS WELL AS AROUND 60 STUDENTS PER YEAR IN THE GRADUATE LIBERAL STUDIES PROGRAM. AN ONGOING FACULTY OF MORE THAN 430 IS JOINED EACH SEMESTER BY A DISTINGUISHED GROUP OF VISITING ARTISTS AND PROFESSORS. TODAY'S STUDENT/INSTRUCTOR RATIO IS 8 TO 1, AND ABOUT TWO THIRDS OF ALL COURSES ENROLL FEWER THAN 20 STUDENTS.
AUXILIARY SERVICES AND OTHERAUXILIARY SERVICES INCLUDE THE COSTS OF ROOM AND BOARD FOR APPROXIMATELY 3,000 STUDENTS RESIDING ON A 316 ACRE CAMPUS. THERE ARE 8 RESIDENCE HALLS, 7 APARTMENT COMPLEXES AND OVER 25 PROGRAM HOUSES IN ADDITION TO OVER 140 HOUSE UNITS ON CAMPUS FOR UPPER-CLASS STUDENTS. WORKING IN PARTNERSHIP WITH STUDENTS AND COLLABORATIVELY WITH OTHER MEMBERS OF THE WESLEYAN COMMUNITY, THE OFFICE OF RESIDENTIAL LIFE STRIVES TO PROVIDE A SAFE AND SUPPORTIVE RESIDENTIAL ENVIRONMENT THAT COMPLEMENTS AND EXTENDS STUDENTS' EDUCATIONAL EXPERIENCE. STUDENT-CENTERED PROGRAMS AND SERVICES ARE DEVELOPED AND IMPLEMENTED WITH AN EMPHASIS ON HOLISTIC INDIVIDUAL AND COMMUNITY DEVELOPMENT, STUDENT LEADERSHIP, INDIVIDUAL RESPONSIBILITY, ADVOCACY OF ACADEMIC INQUIRY, AND FREEDOM OF THOUGHT, OPINION AND EXPRESSION IN THE SPIRIT OF MUTUAL RESPECT. THESE ARE THE HALLMARKS OF THE WESLEYAN RESIDENTIAL EXPERIENCE, AND THEY PROVIDE THE ESSENTIAL FOUNDATION FOR A QUALITY LIBERAL ARTS EDUCATION WITHIN A DIVERSE AND DYNAMIC COMMUNITY.
LIBRARIESLIBRARY EXPENSES INCLUDE ACQUISITION OF BOOKS, PERIODICALS AND OTHER MATERIALS, COMPENSATION OF STAFF, AND OTHER EXPENDITURES IN SUPPORT OF THE LIBRARY. THE MISSION OF THE LIBRARY IS TO PROVIDE THE INFORMATION SERVICES AND RESOURCES REQUIRED TO SUPPORT THE LEARNING, TEACHING, AND RESEARCH OF THE WESLEYAN COMMUNITY.TO CARRY OUT THIS MISSION THE LIBRARY WILL: - ORGANIZE AND PROVIDE INTELLECTUAL AND PHYSICAL ACCESS TO COLLECTIONS AND INFORMATION RESOURCES LOCALLY AND WORLD-WIDE- DEVELOP AND PRESERVE LOCAL COLLECTIONS - TEACH AND GUIDE USERS IN THE LIBRARY RESEARCH PROCESS - PROVIDE AN ATMOSPHERE CONDUCIVE TO STUDY, RESEARCH, AND LEARNING - CONTRIBUTE TO THE LARGER SCHOLARLY WORLDTHE WESLEYAN LIBRARY WILL PROVIDE UNEXCELLED SERVICES. IT IS A DYNAMIC PLACE WHERE LIBRARY STAFF PROVIDE USERS WITH THE INFORMATION THEY NEED, AS WELL AS A KEEN SENSE THAT THERE ARE MANY PATHS, AND A WIDE RANGE OF SKILLS NECESSARY FOR THE EFFECTIVE USE AND EVALUATION OF INFORMATION RESOURCES.
STUDENT SERVICES INCLUDES THE COSTS ASSOCIATED WITH ADMINISTERING THE OFFICE OF ADMISSIONS, REGISTRAR, FINANCIAL AID, CAREER PLANNING, HEALTH SERVICES, INSTITUTIONAL RESEARCH AND DEAN'S OFFICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Martin Chief Investment Officer | Officer | 38 | $902,344 |
Michael S Roth President And Trustee | OfficerTrustee | 38 | $685,168 |
Jonathan Don Farrar Director Of Investments | 38 | $329,805 | |
Renell M Wynn Vice President For Communications | Officer | 38 | $263,398 |
Andrew Tanaka Svp, Chief Admin Off. & Tr | Officer | 38 | $260,255 |
Frantz Williams Jr VP For Advancement | Officer | 38 | $258,353 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Dining Services | 6/29/21 | $7,500,755 |
Clinical Research Sequencing P Covid Testing | 6/29/21 | $3,227,500 |
Smg Corporate Services Custodial Services | 6/29/21 | $4,548,265 |
Payette Assoc Inc Consultant Fees | 6/29/21 | $3,073,974 |
Fip Construction Inc Construction Svcs | 6/29/21 | $3,007,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,283,000 |
| Investment income | $1,210,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $14,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,893,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $434,000 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $326,592,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $66,589,295 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,376,705 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,400,277 |
| Compensation to disqualified persons | $874,208 |
| Other salaries and wages | $100,132,542 |
| Pension plan accruals and contributions | $9,107,000 |
| Other employee benefits | $16,434,973 |
| Payroll taxes | $7,289,660 |
| Fees for services: Management | $5,304,927 |
| Fees for services: Legal | $370,339 |
| Fees for services: Accounting | $346,536 |
| Fees for services: Lobbying | $645 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,647,000 |
| Fees for services: Other | $79,776 |
| Advertising and promotion | $4,652,500 |
| Office expenses | $1,812,619 |
| Information technology | $2,399,511 |
| Royalties | $0 |
| Occupancy | $12,214,635 |
| Travel | $2,295,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $194,251 |
| Interest | $13,742,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,021,453 |
| Insurance | $732,525 |
| All other expenses | $0 |
| Total functional expenses | $291,157,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,604,000 |
| Savings and temporary cash investments | $142,582,000 |
| Pledges and grants receivable | $22,474,000 |
| Accounts receivable, net | $1,084,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,381,000 |
| Inventories for sale or use | $1,329,000 |
| Prepaid expenses and deferred charges | $1,029,000 |
| Investments—publicly traded securities | $644,587,000 |
| Investments—other securities | $502,964,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,995,000 |
| Total assets | $1,706,429,000 |
| Accounts payable and accrued expenses | $18,504,000 |
| Grants payable | $0 |
| Deferred revenue | $5,958,000 |
| Tax-exempt bond liabilities | $20,105,000 |
| 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 | $325,000,000 |
| Other liabilities | $64,243,000 |
| Total liabilities | $433,810,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,272,619,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Wesleyan University has recieved totaling $152,000.
| Awarding Organization | Amount |
|---|---|
Uw Harold S Geneen Charitable Tr Dallas, TX PURPOSE: SUPPORTS MULTIPLE | $135,000 |
Timothy T Day Foundation Inc Phoenix, AZ PURPOSE: EDUCATION | $10,000 |
Kates Foundation Inc Norwell, MA PURPOSE: CHARITABLE CONTRIBUTION | $3,000 |
New England Society In The City Of Brooklyn Brooklyn, NY PURPOSE: SCHOLARSHIP FOR LEXA KREBS | $3,000 |
Sharrock Family Charitable Tr Harrison, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $1,130,907,000 |
| Earnings | $574,535,000 |
| Net Contributions | $10,549,000 |
| Other Expense | $35,211,000 |
| Grants | $10,984,000 |
| Ending Balance | $1,669,796,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Providence College Providence, RI | $748,292,244 | $299,300,711 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |