Kentucky Wesleyan College
- Assets
- $66.9m
- Revenue
- $34.5m
- Investments
- $0.0
- Employees
- 494
- Location
- Owensboro, KY
- Founding
- 05/1956
- Data as of
- 05/2022
- 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 05/2022, Kentucky Wesleyan College employed 494 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 05/2022, Kentucky Wesleyan College generated $34.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $31.7m during the year ending 05/2022. While expenses have increased by 5.6% 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
2022
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 |
|---|---|---|---|
Tom Mitzel President | Officer | 40 | $228,582 |
Dan Frazier V.P. Of Finance | Officer | 40 | $136,440 |
Mark Shook V.P. Of Athletics | Officer | 40 | $103,794 |
Eddie Kenny V.P. Of Advancement | Officer | 40 | $94,913 |
Scott E Kramer V.P. Of Executive Initiatives | Officer | 40 | $93,394 |
Matt Ruark V.P. Of Admissions/finance | Officer | 40 | $84,927 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lonnie Nave's Service Company Hvac Contractor | 5/30/22 | $459,531 |
Aladdin Food Management Services Food Service Contractor | 5/30/22 | $1,423,001 |
Building By Wayne Baker Inc Construction Services | 5/30/22 | $372,586 |
Miller Transportation Travel Bus Transportation | 5/30/22 | $293,171 |
Us Lawns-owensboro Ky Lawn Services | 5/30/22 | $267,436 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $2,350 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $247,071 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,396,430 |
| Noncash contributions included in lines 1a–1f | $39,708 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,645,851 |
| Total Program Service Revenue | $24,555,459 |
| Investment income | $688,114 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,953 |
| Net Rental Income | $10,808 |
| Net Gain/Loss on Asset Sales | $2,540,697 |
| Net Income from Fundraising Events | $34,964 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,478,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,099,090 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,030,817 |
| Compensation of current officers, directors, key employees. | $924,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,869,276 |
| Pension plan accruals and contributions | $274,634 |
| Other employee benefits | $1,029,668 |
| Payroll taxes | $553,654 |
| Fees for services: Management | $231,591 |
| Fees for services: Legal | $36,503 |
| Fees for services: Accounting | $88,384 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,597 |
| Advertising and promotion | $121,182 |
| Office expenses | $537,025 |
| Information technology | $732,511 |
| Royalties | $0 |
| Occupancy | $1,710,137 |
| Travel | $627,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $333,932 |
| Interest | $616,731 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,227,043 |
| Insurance | $495,532 |
| All other expenses | $603,820 |
| Total functional expenses | $31,664,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,796 |
| Savings and temporary cash investments | $4,442,394 |
| Pledges and grants receivable | $623,743 |
| Accounts receivable, net | $604,636 |
| Loans from Officers, Directors, or Controlling Persons | $500 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $181,131 |
| Net Land, buildings, and equipment | $21,349,861 |
| Investments—publicly traded securities | $34,904,792 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,723,856 |
| Total assets | $66,922,709 |
| Accounts payable and accrued expenses | $1,710,364 |
| 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 | $15,007,162 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $840,720 |
| Total liabilities | $17,558,246 |
| Net assets without donor restrictions | $7,806,019 |
| Net assets with donor restrictions | $41,558,444 |
| 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 | $66,922,709 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kentucky Wesleyan College has recieved totaling $17,434.
| Awarding Organization | Amount |
|---|---|
Lena Harris Tr Ua Fbo Methodist Technological Students Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $12,434 |
Koch Foundation Inc Evansville, IN PURPOSE: CHARITABLE OPERATIONS | $5,000 |
Endowment Analysis
| Beg. Balance | $42,146,419 |
| Earnings | -$2,533,687 |
| Net Contributions | $965,956 |
| Other Expense | $310,657 |
| Grants | $1,553,282 |
| Ending Balance | $38,714,749 |
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 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
Ohio Wesleyan University Delaware, OH | $522,945,081 | $119,149,215 |
Trine University Inc Angola, IN | $221,741,150 | $121,889,140 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Saint Marys College Notre Dame, IN | $523,384,557 | $143,002,673 |
Taylor University Upland, IN | $297,240,119 | $122,251,609 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Wittenberg College Board Of Directors Springfield, OH | $198,135,859 | $89,178,248 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |