Iowa Wesleyan University
- Assets
- $33.9m
- Revenue
- $30.9m
- Investments
- $0.0
- Employees
- 430
- Location
- Mt Pleasant, IA
- Founding
- 08/1978
- Data as of
- 05/2022
- EIN
- 42-0680332
Organization Overview
Iowa Wesleyan University is located in Mt Pleasant, IA. The organization was established in 1978. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Iowa Wesleyan University employed 430 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa 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 05/2022, Iowa Wesleyan University generated $30.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $32.1m during the year ending 05/2022. While expenses have increased by 8.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IOWA WESLEYAN UNIVERSITY IS A TRANSFORMATIONAL LEARNING COMMUNITY WHOSE PASSION IS TO EDUCATE, EMPOWER AND INSPIRE STUDENTS TO LEAD MEANINGFUL LIVES AND CAREERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNIVERSITY IS ACCREDITED AS A BACCALAUREATE INSTITUTION BY THE HIGHER LEARNING COMMISSION. STUDENT PAYMENTS OF TUITION AND SERVICE FEES ARE USED TO PROVIDE THE HIGHEST POSSIBLE QUALITY EDUCATION AT THE LOWEST POSSIBLE COST. THE UNIVERSITY ENROLLED 835 FULL AND PART TIME STUDENTS IN THE FALL SEMESTER OF 2021 AND 761 STUDENTS IN THE SPRING SEMESTER OF 2022.
AUXILIARY ENTERPRISES FOR THE BENEFIT OF THE STUDENTS (RESIDENCE HALLS, DINING, ETC.) THE UNIVERSITY HAD 517 STUDENTS LIVING ON CAMPUS DURING THE FALL 2021 SEMESTER. THE UNIVERSITY HAD 479 STUDENTS LIVING ON CAMPUS DURING THE SPRING 2022 SEMESTER. ALL STUDENTS LIVING ON CAMPUS ALSO PURCHASED MEAL PLANS.
SCHOLARSHIP PROGRAMS FOR SCHOLARSHIPS AND GRANTS TO 612 STUDENTS.
STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNSELING, ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 835 FULL AND PART TIME STUDENTS IN THE FALL SEMESTER OF 2021 AND 761 STUDENTS IN THE SPRING SEMESTER OF 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dewayne Frazier University P | Officer | 50 | $155,760 |
Meg Richtman VP Enrollmen | 50 | $134,068 | |
Derek Zander VP Advanceme | 50 | $108,423 | |
Robert Miller Chair | OfficerTrustee | 1 | $0 |
Christine Plunkett President | OfficerTrustee | 50 | $0 |
Byron Johnson Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Registry For College And University Consulting | 5/30/22 | $297,803 |
National Management Resources Maintenance | 5/30/22 | $1,184,519 |
Eab Consulting | 5/30/22 | $560,672 |
Sodexo America Food Service | 5/30/22 | $1,211,430 |
Consolidate Management Food Service | 5/30/22 | $317,053 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,237,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,543,612 |
| Noncash contributions included in lines 1a–1f | $247,753 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,781,584 |
| Total Program Service Revenue | $26,052,717 |
| Investment income | $36,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,050 |
| Net Gain/Loss on Asset Sales | $4,650 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,901,854 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,094,006 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $486,879 |
| Compensation of current officers, directors, key employees. | $163,116 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,376,388 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,286,350 |
| Payroll taxes | $502,795 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,906 |
| Fees for services: Accounting | $74,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $114,732 |
| Advertising and promotion | $162,589 |
| Office expenses | $138,060 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,124,753 |
| Travel | $551,900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,252 |
| Interest | $710,831 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,079,871 |
| Insurance | $316,488 |
| All other expenses | $1,000,482 |
| Total functional expenses | $32,085,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,681 |
| Savings and temporary cash investments | $555,421 |
| Pledges and grants receivable | $1,461,275 |
| Accounts receivable, net | $316,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,919 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $339,113 |
| Net Land, buildings, and equipment | $19,103,508 |
| Investments—publicly traded securities | $2,338,629 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,717,131 |
| Total assets | $33,894,397 |
| Accounts payable and accrued expenses | $3,300,712 |
| Grants payable | $0 |
| Deferred revenue | $140,366 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $26,127,618 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $249,547 |
| Total liabilities | $29,818,243 |
| Net assets without donor restrictions | -$16,588,433 |
| Net assets with donor restrictions | $20,664,587 |
| 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 | $33,894,397 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Iowa Wesleyan University has recieved totaling $167,488.
| Awarding Organization | Amount |
|---|---|
Beck Memorial Trust Milwaukee, WI PURPOSE: GENERAL OPERATING | $53,508 |
Iowa College Foundation Des Moines, IA PURPOSE: PROVIDE SCHOLARSHIPS | $43,094 |
Harry And Virginia Murray Foundation Milwaukee, WI PURPOSE: GENERAL OPERATING | $25,000 |
P E O Foundation Des Moines, IA PURPOSE: College Maint | $22,036 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION | $20,000 |
Charles E Fahrney Education Foundation Milwaukee, WI PURPOSE: SCHOLARSHIPS | $2,850 |
Endowment Analysis
| Beg. Balance | $16,134,739 |
| Earnings | -$426,727 |
| Net Contributions | $1,131,270 |
| Other Expense | $27,782 |
| Ending Balance | $16,811,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concordia College Corporation Moorhead, MN | $403,850,675 | $127,833,637 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
College Of St Scholastica Inc Duluth, MN | $228,173,776 | $117,585,202 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
College Of St Benedict Business Off Saint Joseph, MN | $251,991,111 | $110,041,062 |
St Norbert College Inc De Pere, WI | $336,117,917 | $103,405,590 |
University Of Northwestern-St Paul St Paul, MN | $144,732,947 | $110,000,439 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |