Virginia Wesleyan University
- Assets
- $159.8m
- Revenue
- $67.0m
- Investments
- $55.5m
- Employees
- 778
- Location
- Virginia Beach, VA
- Founding
- 10/1964
- Data as of
- 06/2020
- EIN
- 54-6039600
Organization Overview
Virginia Wesleyan University is located in Virginia Beach, VA. The organization was established in 1964. 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, Virginia Wesleyan University employed 778 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia 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, Virginia Wesleyan University generated $67.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $66.6m during the year ending 06/2020. While expenses have increased by 1.3% 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
VIRGINIA WESLEYAN UNIVERSITY IS A FULLY ACCREDITED LIBERAL ARTS, UNITED-METHODIST RELATED INSTITUTION FOUNDED IN 1961.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL AND GENERAL EXPENSES TO INCLUDE INSTRUCTIONAL SERVICES, PUBLIC SERVICES, PLANT OPERATIONS AND STUDENT AID IN FISCAL YEAR 2020, APPROXIMATELY 1,500 STUDENTS WERE ENROLLED AND APPROXIMATELY 300 STUDENTS GRADUATED WITH BACCALAUREATE DEGREES.
AUXILARY ENTERPRISES TO INCLUDE RESIDENCE HALLS, DINING HALL AND CONFERENCE FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Scott D Miller President | Officer | 50 | $487,080 |
James Cooper Former Vice President For Finance | Officer | 50 | $173,080 |
David Macedo Head Men's Basketball Coac | 40 | $147,704 | |
Maynard Schaus Vice President Academic Af | Officer | 50 | $145,060 |
Keith Moore Vice President For Student | Officer | 50 | $128,490 |
Paul L Ewell Dean Of University College/professor | 40 | $126,134 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Facility Management | 6/29/21 | $2,064,760 |
Hoy Construction Inc Construction | 6/29/21 | $999,044 |
Sodexo Food Services | 6/29/21 | $2,012,038 |
Ellucian Company Lp Software | 6/29/21 | $686,885 |
Wiley Edu Llc Online Program Development | 6/29/21 | $655,489 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,421,500 |
| Investment income | $400,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $220,608 |
| Net Gain/Loss on Asset Sales | $1,258,849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,002,662 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $23,892,442 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,188,108 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,814,633 |
| Pension plan accruals and contributions | $1,277,283 |
| Other employee benefits | $3,319,872 |
| Payroll taxes | $1,206,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,866 |
| Fees for services: Accounting | $73,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,723 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $490,528 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,226,238 |
| Travel | $440,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,305,953 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,047,621 |
| Insurance | $498,676 |
| All other expenses | $0 |
| Total functional expenses | $66,608,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,057,319 |
| Savings and temporary cash investments | $10,862,628 |
| Pledges and grants receivable | $1,549,571 |
| Accounts receivable, net | $1,674,180 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,209,714 |
| Inventories for sale or use | $170,399 |
| Prepaid expenses and deferred charges | $1,263,231 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $55,538,059 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,540,911 |
| Total assets | $159,824,749 |
| Accounts payable and accrued expenses | $2,920,049 |
| Grants payable | $956,614 |
| Deferred revenue | $2,925,251 |
| Tax-exempt bond liabilities | $33,546,037 |
| 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 | $1,093,171 |
| Total liabilities | $41,441,122 |
| 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 | $118,383,627 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Wesleyan University has recieved totaling $14,884.
| Awarding Organization | Amount |
|---|---|
Anonymous Trust Raleigh, NC PURPOSE: SCHOLARSHIP FOR BRIANNY OCAMPO | $14,384 |
William C & Mabel D Hunt Dallas, TX PURPOSE: SCHOLARSHIP | $500 |
Endowment Analysis
| Beg. Balance | $58,765,587 |
| Earnings | $17,041,660 |
| Net Contributions | $218,060 |
| Other Expense | $1,257,622 |
| Grants | $1,944,879 |
| Ending Balance | $72,822,806 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Washington College Chestertown, MD | $509,587,236 | $93,610,957 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |