Wheaton College
- Assets
- $459.1m
- Revenue
- $148.8m
- Investments
- $114.0m
- Employees
- 1,534
- Location
- Norton, MA
- Founding
- 05/1950
- Data as of
- 06/2021
- EIN
- 04-2103638
Organization Overview
Wheaton College is located in Norton, MA. The organization was established in 1950. 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, Wheaton College employed 1,534 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wheaton 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 06/2021, Wheaton College generated $148.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $143.0m during the year ending 06/2021. While expenses have increased by 3.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WHEATON COLLEGE PROVIDES A TRANSFORMATIVE LIBERAL ARTS EDUCATION FOR INTELLECTUALLY CURIOUS STUDENTS IN A COLLABORATIVE, ACADEMICALLY VIBRANT RESIDENTIAL COMMUNITY THAT VALUES A DIVERSE WORLD.
Describe the Organization's Program Activity:
WHEATON COLLEGE (THE "COLLEGE") IS A PRIVATE, COEDUCATIONAL, LIBERAL ARTS COLLEGE LOCATED IN NORTON, MASSACHUSETTS AND IS ACCREDITED BY THE NEW ENGLAND COMMISSION OF HIGHER EDUCATION, INC. FOUNDED AS A FEMALE SEMINARY IN 1834 AND CHARTERED AS A FOUR-YEAR COLLEGE IN 1912, THE COLLEGE BECAME COEDUCATIONAL IN 1988. THE COLLEGE PROVIDES ACADEMIC, RESIDENTIAL AND OTHER SERVICES TO A DIVERSE STUDENT POPULATION OF MORE THAN 1,700 DRAWN FROM SCHOOLS PREDOMINATELY IN THE NORTHEAST REGION OF THE UNITED STATES, AS WELL AS FROM MANY OTHER U.S. STATES AND TERRITORIES AND MORE THAN 40 COUNTRIES. THE COLLEGE'S MISSION IS TO PROVIDE A TRANSFORMATIVE LIBERAL ARTS EDUCATION FOR INTELLECTUALLY CURIOUS STUDENTS IN A COLLABORATIVE, ACADEMICALLY VIBRANT RESIDENTIAL COMMUNITY THAT VALUES A DIVERSE WORLD. THE CURRICULUM FEATURES MORE THAN 100 MAJORS AND MINORS IN THE ARTS, BUSINESS, HUMANITIES, NATURAL SCIENCES, AND SOCIAL SCIENCES. THE COLLEGE OFFERS THE BACHELOR OF ARTS DEGREE AT THE UNDERGRADUATE LEVEL, AND THE MASTERS OF ARTS DEGREE UNDER SPECIAL CIRCUMSTANCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Hanno President And Ex Officio Trustee | OfficerTrustee | 40 | $390,884 |
Renee White Provost | Officer | 40 | $232,852 |
Walter Caffey VP Enrollment, Dean Admission & Student Aid | Officer | 40 | $226,398 |
Meghan Kass Vice President For Finance & Administration | Officer | 40 | $211,246 |
Merritt Crowley Vice President Advancement | Officer | 40 | $200,328 |
John Sullivan Assistant VP Of Business Services & Physical Plant | 40 | $168,831 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Dining Services | 6/29/21 | $3,926,978 |
Commodore Builders Building Contractor | 6/29/21 | $2,693,636 |
Miller Dyer Spears Inc Architect | 6/29/21 | $652,081 |
Fj Roberts Sports Surfaces Construction Services | 6/29/21 | $788,885 |
Inhouse Physicans Sc Covid Testing Administration | 6/29/21 | $743,833 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $30,510 |
| Related organizations | $0 |
| Government grants | $3,059,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,280,044 |
| Noncash contributions included in lines 1a–1f | $706,659 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,370,267 |
| Total Program Service Revenue | $108,602,639 |
| Investment income | $2,676,717 |
| Tax Exempt Bond Proceeds | $1,750 |
| Royalties | $0 |
| Net Rental Income | $228,142 |
| Net Gain/Loss on Asset Sales | $8,163,552 |
| Net Income from Fundraising Events | -$5,335 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $148,800,782 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $60,489,235 |
| Grants and other assistance to Foreign Orgs/Individuals | $113,450 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,897,472 |
| Compensation of current officers, directors, key employees. | $688,101 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,201,543 |
| Pension plan accruals and contributions | $1,183,927 |
| Other employee benefits | $5,230,756 |
| Payroll taxes | $2,355,280 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $485,110 |
| Fees for services: Accounting | $145,459 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,606,464 |
| Fees for services: Other | $10,049,040 |
| Advertising and promotion | $376,363 |
| Office expenses | $893,255 |
| Information technology | $1,393,521 |
| Royalties | $0 |
| Occupancy | $2,629,925 |
| Travel | $210,032 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,290 |
| Interest | $2,315,333 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,607,968 |
| Insurance | $490,132 |
| All other expenses | $2,002,007 |
| Total functional expenses | $142,995,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,783,390 |
| Savings and temporary cash investments | $23,014,147 |
| Pledges and grants receivable | $8,477,044 |
| Accounts receivable, net | $567,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,431,730 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,129,027 |
| Net Land, buildings, and equipment | $120,490,931 |
| Investments—publicly traded securities | $159,449,674 |
| Investments—other securities | $114,020,612 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,704,817 |
| Total assets | $459,069,163 |
| Accounts payable and accrued expenses | $9,497,942 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $87,712,951 |
| 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 | $12,293,557 |
| Total liabilities | $109,504,450 |
| Net assets without donor restrictions | $95,998,634 |
| Net assets with donor restrictions | $253,566,079 |
| 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 | $459,069,163 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wheaton College has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Stearns Charitable Trust Boston, MA PURPOSE: PROGRAM SUPPORT | $20,000 |
General E R Quesada Educational Portland, ME PURPOSE: UNRESTRICTED | $10,000 |
Houston Family Foundation Armonk, NY PURPOSE: GENERAL PURPOSE | $5,000 |
Endowment Analysis
| Beg. Balance | $210,646,508 |
| Earnings | $66,034,098 |
| Admin Expense | $5,606,464 |
| Net Contributions | $8,605,089 |
| Other Expense | $7,278,463 |
| Grants | $5,523,061 |
| Ending Balance | $266,877,707 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Providence College Providence, RI | $748,292,244 | $299,300,711 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |