Wheaton College
- Assets
- $1.1b
- Revenue
- $280.8m
- Investments
- $61.2m
- Employees
- 2,978
- Location
- Wheaton, IL
- Founding
- 01/1976
- Data as of
- 06/2021
- EIN
- 36-2182171
Organization Overview
Wheaton College is located in Wheaton, IL. The organization was established in 1976. 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 2,978 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. 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 $280.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $163.6m during the year ending 06/2021. While expenses have increased by 1.8% 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.
Since 2015, Wheaton College has awarded 215 individual grants totaling $6,283,448. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WHEATON COLLEGE SERVES JESUS CHRIST AND ADVANCES HIS KINGDOM THROUGH EXCELLENCE IN LIBERAL ARTS AND GRADUATE PROGRAMS THAT EDUCATE THE WHOLE PERSON TO BUILD THE CHURCH AND BENEFIT SOCIETY WORLDWIDE.
Describe the Organization's Program Activity:
EDUCATION AND INSTRUCTION - THE COLLEGE OFFERS UNDERGRADUATE DEGREES IN 44 AREAS OF MAJOR STUDY INCLUDING 6 IN THE CONSERVATORY; 16 MASTER OF ARTS DEGREES AND 3 DOCTORAL DEGREES. THERE ARE APPROXIMATELY 3,000 STUDENTS ENROLLED AT THE COLLEGE.
STUDENT SERVICES - PROGRAMS ARE PROVIDED FOR THE ENRICHMENT OF THE STUDENTS TO ALLOW THEM TO EXPERIENCE LIFE AS A CHRISTIAN COMMUNITY. WHEATON COLLEGE ATHLETICS SPONSORS 21 SPORTS FOR MALE AND FEMALE STUDENT ATHLETES.
AUXILIARY ENTERPRISES - THE COLLEGE PROVIDES ROOM AND BOARD FOR ITS STUDENTS.
ARTIST SERIES, THE COMMUNITY SCHOOL OF THE ARTS AND SUMMER SPORTS CAMPS. MINOR PROGRAMS, APPLICATION FEES, TUITION INSTALLMENT PLAN FEES, PARKING FINES, PARKING PERMITS AND LIBRARY FINES. THE COLLEGE SOLICITS A VARIETY OF CONTRIBUTIONS FOR ITS PROGRAMS INCLUDING DONOR-ADVISED FUNDS. DONOR-ADVISED FUND CONTRIBUTIONS RECEIVED ARE ACCOUNTED FOR AS OTHER INVESTMENTS. DONOR-ADVISED FUNDS ALLOW FOR THE DONOR TO RECOMMEND DISTRIBUTIONS TO COLLEGE PROGRAMS OR OTHER CHARITABLE ORGANIZATIONS. ALTHOUGH THE COLLEGE GENERALLY COMPLIES WITH THE DONOR'S RECOMMENDATION, THEY ARE SUBJECT TO APPROVAL BY THE COLLEGE'S CHARITY SELECTION COMMITTEE. THE COLLEGE'S POLICY IS TO DISTRIBUTE A MAXIMUM OF 75% - 90% OF DONOR-ADVISED FUND CONTRIBUTIONS TO UNRELATED THIRD PARTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Food Service | 6/29/21 | $5,171,381 |
Ma Mortenson Co Construction Services | 6/29/21 | $5,060,199 |
Power Construction Construction Services | 6/29/21 | $1,027,992 |
Mep Associates Llc Engineering Consultants | 6/29/21 | $436,887 |
Kinsale Contracting Group Construction Services | 6/29/21 | $308,443 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $543,702 |
| Government grants | $4,748,604 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,960,396 |
| Noncash contributions included in lines 1a–1f | $4,688,538 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,252,702 |
| Total Program Service Revenue | $114,849,588 |
| Investment income | $8,006,198 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $23,857 |
| Net Rental Income | $41,192 |
| Net Gain/Loss on Asset Sales | $114,806,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $280,776,360 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,359,434 |
| Grants and other assistance to domestic individuals. | $37,686,869 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,871,684 |
| Compensation of current officers, directors, key employees. | $1,622,319 |
| Compensation to disqualified persons | $366,873 |
| Other salaries and wages | $57,848,547 |
| Pension plan accruals and contributions | $2,721,044 |
| Other employee benefits | $10,786,335 |
| Payroll taxes | $4,060,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $252,799 |
| Fees for services: Accounting | $263,129 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $489,700 |
| Fees for services: Other | $9,657,651 |
| Advertising and promotion | $1,030,028 |
| Office expenses | $3,233,053 |
| Information technology | $2,139,239 |
| Royalties | $0 |
| Occupancy | $6,736,199 |
| Travel | $482,153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $173,329 |
| Interest | $2,419,005 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,766,746 |
| Insurance | $1,401,035 |
| All other expenses | $2,010,495 |
| Total functional expenses | $163,618,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $37,492,348 |
| Pledges and grants receivable | $10,243,561 |
| Accounts receivable, net | $1,819,054 |
| Loans from Officers, Directors, or Controlling Persons | $70,003 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,749,220 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,975,193 |
| Net Land, buildings, and equipment | $231,888,788 |
| Investments—publicly traded securities | $744,425,655 |
| Investments—other securities | $61,171,007 |
| Investments—program-related | $2,190,630 |
| Intangible assets | $0 |
| Other assets | $7,699,559 |
| Total assets | $1,105,725,018 |
| Accounts payable and accrued expenses | $12,791,900 |
| Grants payable | $0 |
| Deferred revenue | $4,196,541 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $49,500,000 |
| Other liabilities | $112,225,276 |
| Total liabilities | $178,713,717 |
| Net assets without donor restrictions | $368,979,609 |
| Net assets with donor restrictions | $558,031,692 |
| 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 | $1,105,725,018 |
Grants Awarded
Over the last fiscal year, Wheaton College has awarded $2,356,434 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
Speculator, NY PURPOSE: General Fund | $260,000 |
Naples, FL PURPOSE: $50k Capital Campaign;$15 General Fund;$135k Missions | $200,000 |
Boone, NC PURPOSE: $6k General Fund; $37,500 Alaska; $112,500 Disaster Relief | $156,000 |
Warrenton, MO PURPOSE: mission support | $150,000 |
Cary, NC PURPOSE: $75k Women of Hope;$75k General Fund | $150,000 |
Philadelphia, PA PURPOSE: $10k mission support;$140k General Fund | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wheaton College has recieved totaling $22,000.
| Awarding Organization | Amount |
|---|---|
Gregg W And Denise E Steinhafel Family Foundation Wayzata, MN PURPOSE: GENERAL FUND | $15,000 |
Backer Family Charitable Trust Omaha, NE PURPOSE: GENERAL FUND | $5,000 |
Myer & Lois Franklin Charitable Tr Jackson, MI PURPOSE: SCHOLORSHIP | $2,000 |
Endowment Analysis
| Beg. Balance | $502,044,000 |
| Earnings | $157,876,000 |
| Net Contributions | $11,367,000 |
| Other Expense | $1,388,000 |
| Grants | $22,466,000 |
| Ending Balance | $647,433,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Chicago Chicago, IL | $667,072,943 | $221,332,415 |
Indiana Wesleyan University Marion, IN | $535,078,455 | $212,201,058 |
Trustees Of Grinnell College Grinnell, IA | $3,450,447,819 | $273,975,826 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
Wheaton College Wheaton, IL | $1,105,725,018 | $280,776,360 |
Berea College Berea, KY | $1,637,313,850 | $205,202,087 |
Augustana College Rock Island, IL | $426,442,517 | $147,587,977 |
Marian University Indianapolis, IN | $323,995,376 | $176,218,802 |
Carroll University Inc Waukesha, WI | $261,882,162 | $140,965,442 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |