North Carolina Wesleyan University
- Assets
- $60.7m
- Revenue
- $47.5m
- Investments
- $3.8m
- Employees
- 791
- Location
- Rocky Mount, NC
- Founding
- 08/1961
- Data as of
- 05/2023
- EIN
- 56-0686603
Organization Overview
North Carolina Wesleyan University is located in Rocky Mount, NC. The organization was established in 1961. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, North Carolina Wesleyan University employed 791 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina 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 05/2023, North Carolina Wesleyan University generated $47.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $52.5m during the year ending 05/2023. While expenses have increased by 1.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE STUDENTS FOR PROFESSIONAL ADVANCEMENT, LIFE-LONG LEARNING, AND RESPONSIBLE PARTICIPATION IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
INSTRUCTIONAL SERVICES TO UNIVERSITY STUDENTS
PUBLIC SERVICE - OPERATED THE DUNN CENTER FOR THE PERFORMING ARTS, OPEN TO THE COMMUNITY AND EASTERN NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Paul A Bauer Vice Chariman | Trustee | 5 | $0 |
Mr Vernon T Bradley Jr Trustee | Trustee | 5 | $0 |
Mr Arnold Gordon-Gray Trustee | Trustee | 5 | $0 |
Mr Dan L Bell Trustee | Trustee | 5 | $0 |
Mr Thomas A Betts Jr Trustee | Trustee | 5 | $0 |
Mr Harry Bynum Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nashco Inc Construction Services | 5/30/23 | $258,040 |
Jenzabar Inc Software Services | 5/30/23 | $442,275 |
Sodexo Inc & Affiliates Cafeteria Food Service And Maintenance | 5/30/23 | $1,789,257 |
Radio Werks Llc Media Services | 5/30/23 | $317,950 |
Aramark Services Inc Food Service | 5/30/23 | $834,445 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,761 |
| Related organizations | $0 |
| Government grants | $3,605,441 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,852,848 |
| Noncash contributions included in lines 1a–1f | $134,086 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,462,050 |
| Total Program Service Revenue | $41,749,728 |
| Investment income | $296,995 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $124,101 |
| Net Gain/Loss on Asset Sales | -$227,937 |
| Net Income from Fundraising Events | $22,230 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,525,427 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,381,368 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $933,312 |
| Compensation of current officers, directors, key employees. | $417,733 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,252,168 |
| Pension plan accruals and contributions | $469,978 |
| Other employee benefits | $1,896,298 |
| Payroll taxes | $916,397 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,248 |
| Fees for services: Accounting | $82,884 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,880 |
| Fees for services: Other | $651,376 |
| Advertising and promotion | $450,192 |
| Office expenses | $210,635 |
| Information technology | $678,189 |
| Royalties | $0 |
| Occupancy | $4,114,144 |
| Travel | $496,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $392,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,254,544 |
| Insurance | $414,113 |
| All other expenses | $918,042 |
| Total functional expenses | $52,498,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,149 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $614,168 |
| Accounts receivable, net | $970,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $71,914 |
| Inventories for sale or use | $104,829 |
| Prepaid expenses and deferred charges | $650,874 |
| Net Land, buildings, and equipment | $42,230,954 |
| Investments—publicly traded securities | $10,224,396 |
| Investments—other securities | $3,802,303 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,473,102 |
| Total assets | $60,676,201 |
| Accounts payable and accrued expenses | $3,098,928 |
| Grants payable | $0 |
| Deferred revenue | $965,853 |
| 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 | $10,866,189 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,199,527 |
| Total liabilities | $16,130,497 |
| Net assets without donor restrictions | $30,690,111 |
| Net assets with donor restrictions | $13,855,593 |
| 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 | $60,676,201 |