Wheaton Academy
- Assets
- $55.5m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 233
- Location
- West Chicago, IL
- Founding
- 01/1960
- Data as of
- 07/2023
- EIN
- 36-2388793
Organization Overview
Wheaton Academy is located in West Chicago, IL. The organization was established in 1960. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 07/2023, Wheaton Academy employed 233 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wheaton Academy 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 07/2023, Wheaton Academy generated $21.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $19.6m during the year ending 07/2023. While expenses have increased by 2.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF AN ACCREDITED HIGH SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF ACCREDITED HIGH SCHOOL WITH AN ENROLLMENT OF APPROXIMATELY 650 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed President | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice President | OfficerTrustee | 1 | $0 |
Name Not Listed Head Of School / Trustee | OfficerTrustee | 40 | $218,529 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amdg Architects Inc Building Architects | 7/30/23 | $1,603,293 |
Joshua Expeditions Travel Services | 7/30/23 | $190,126 |
Servicemaster Clean Cleaning Service | 7/30/23 | $236,380 |
Briggs Paving Paving Services | 7/30/23 | $265,350 |
Ecampuscom Text Book Seller | 7/30/23 | $217,852 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $189,239 |
| Related organizations | $147,690 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,308,127 |
| Noncash contributions included in lines 1a–1f | $84,685 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,645,056 |
| Total Program Service Revenue | $15,311,905 |
| Investment income | $724,073 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $463,739 |
| Net Gain/Loss on Asset Sales | -$168,831 |
| Net Income from Fundraising Events | -$53,399 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$4,688 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,917,855 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $133,258 |
| Grants and other assistance to domestic individuals. | $3,070,199 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $581,842 |
| Compensation of current officers, directors, key employees. | $170,438 |
| Compensation to disqualified persons | $19,663 |
| Other salaries and wages | $6,210,249 |
| Pension plan accruals and contributions | $181,429 |
| Other employee benefits | $1,174,065 |
| Payroll taxes | $512,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,834 |
| Fees for services: Accounting | $239,673 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $810,012 |
| Advertising and promotion | $11,847 |
| Office expenses | $1,038,538 |
| Information technology | $120,695 |
| Royalties | $0 |
| Occupancy | $671,996 |
| Travel | $1,199,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $395,245 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,613,233 |
| Insurance | $225,587 |
| All other expenses | $259,097 |
| Total functional expenses | $19,554,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $845,514 |
| Savings and temporary cash investments | $8,849,786 |
| Pledges and grants receivable | $95,690 |
| Accounts receivable, net | $5,247,449 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,530 |
| Prepaid expenses and deferred charges | $292,110 |
| Net Land, buildings, and equipment | $24,721,829 |
| Investments—publicly traded securities | $15,369,380 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,453,288 |
| Accounts payable and accrued expenses | $1,149,877 |
| Grants payable | $0 |
| Deferred revenue | $10,347,062 |
| Tax-exempt bond liabilities | $8,917,480 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $79,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,758 |
| Total liabilities | $20,545,902 |
| Net assets without donor restrictions | $23,903,448 |
| Net assets with donor restrictions | $11,003,938 |
| 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 | $55,453,288 |
Grants Awarded
Over the last fiscal year, Wheaton Academy has awarded $133,258 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WHEATON ACADEMY FOUNDATION PURPOSE: Liability Forgiveness | $59,443 |
WHEATON ACADEMY INSTITUTE PURPOSE: Liability Forgiveness | $73,815 |