Kentucky Wesleyan College
- Assets
- $65.5m
- Revenue
- $31.3m
- Investments
- $0.0
- Employees
- 546
- Location
- Owensboro, KY
- Founding
- 05/1956
- Data as of
- 05/2023
- EIN
- 61-0466713
Organization Overview
Kentucky Wesleyan College is located in Owensboro, KY. The organization was established in 1956. 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, Kentucky Wesleyan College employed 546 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Wesleyan 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 05/2023, Kentucky Wesleyan College generated $31.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $33.1m during the year ending 05/2023. While expenses have increased by 4.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER A LIBERAL ARTS EDUCATION THAT NOURISHES, STIMULATES AND PREPARES FUTURE LEADERS INTELLECTUALLY, SPIRITUALLY AND PHYSICALLY TO ACHIEVE SUCCESS IN LIFE
Describe the Organization's Program Activity:
KENTUCKY WESLEYAN COLLEGE, IN PARTNERSHIP WITH THE UNITED METHODIST CHURCH, PROVIDES INSTRUCTION AND RELATED ACTIVITIES TO STUDENTS BY OFFERING A QUALITY LIBERAL ARTS EDUCATION AND OPPORTUNITIES FOR PERSONAL GROWTH AND LEADERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Meeks Bishop Trustee | Trustee | 1 | $0 |
Dale Carden Trustee | Trustee | 1 | $0 |
Bc Childress Trustee | Trustee | 1 | $0 |
Noel Clayton Trustee | Trustee | 1 | $0 |
Deborah Carter Dearing Trustee/secretary | Trustee | 1 | $0 |
Steve Devine Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aladdin Food Management Services Food Service Contractor | 5/30/23 | $1,298,440 |
Miller Transportation Travel Bus Transportation | 5/30/23 | $286,825 |
Us Lawns-owensboro Ky Lawn Services | 5/30/23 | $235,252 |
Nighthawk Security Security Services | 5/30/23 | $127,187 |
Building By Wayne Baker Inc Construction Services | 5/30/23 | $269,405 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $260,746 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,645,651 |
| Noncash contributions included in lines 1a–1f | $44,177 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,906,397 |
| Total Program Service Revenue | $25,774,462 |
| Investment income | $930,629 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,429 |
| Net Rental Income | $35,067 |
| Net Gain/Loss on Asset Sales | $605,498 |
| Net Income from Fundraising Events | $26,196 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,280,678 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,879,990 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,138,003 |
| Compensation of current officers, directors, key employees. | $1,020,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,258,781 |
| Pension plan accruals and contributions | $232,177 |
| Other employee benefits | $980,749 |
| Payroll taxes | $598,035 |
| Fees for services: Management | $230,043 |
| Fees for services: Legal | $40,201 |
| Fees for services: Accounting | $80,512 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $154,219 |
| Advertising and promotion | $118,252 |
| Office expenses | $461,786 |
| Information technology | $868,532 |
| Royalties | $0 |
| Occupancy | $1,858,050 |
| Travel | $776,304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $385,627 |
| Interest | $650,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,066,371 |
| Insurance | $522,020 |
| All other expenses | $256,789 |
| Total functional expenses | $33,093,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,987 |
| Savings and temporary cash investments | $2,730,865 |
| Pledges and grants receivable | $663,982 |
| Accounts receivable, net | $1,091,390 |
| Loans from Officers, Directors, or Controlling Persons | $750 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $228,406 |
| Net Land, buildings, and equipment | $21,333,766 |
| Investments—publicly traded securities | $32,714,233 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,607,962 |
| Total assets | $65,472,341 |
| Accounts payable and accrued expenses | $2,029,317 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $15,334,370 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,807,839 |
| Total liabilities | $20,171,526 |
| Net assets without donor restrictions | $7,466,635 |
| Net assets with donor restrictions | $37,834,180 |
| 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 | $65,472,341 |