Illinois Wesleyan University
- Assets
- $425.3m
- Revenue
- $61.9m
- Investments
- $0.0
- Employees
- 1,775
- Location
- Bloomington, IL
- Founding
- 10/1940
- Data as of
- 07/2023
- EIN
- 37-0662594
Organization Overview
Illinois Wesleyan University is located in Bloomington, IL. The organization was established in 1940. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 07/2023, Illinois Wesleyan University employed 1,775 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Wesleyan University 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, Illinois Wesleyan University generated $61.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $76.7m during the year ending 07/2023. 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
THE UNIVERSITY STRIVES TO ATTAIN THE IDEAL OF A LIBERAL ARTS EDUCATION WHILE PROVIDING UNIQUE OPPORTUNITIES WITH ITS DISTINCTIVE CURRICULA AND PROGRAMS. A LIBERAL ARTS EDUCATION FOSTERS CREATIVITY, CRITICAL THINKING, EFFECTIVE COMMUNICATION, STRENGTH OF CHARACTER AND A SPIRIT OF INQUIRY; IT DEEPENS THE SPECIALIZED KNOWLEDGE OF A DISCIPLINE WITH A COMPREHENSIVE WORLD VIEW.
Describe the Organization's Program Activity:
ILLINOIS WESLEYAN UNIVERSITY PROVIDES A RICH LEARNING ENVIRONMENT FOR APPROXIMATELY 1,550 UNDERGRADUATE STUDENTS WITH EXTENSIVE PERSONAL ATTENTION. THE EXPERIENTIAL LEARNING MODEL FOSTERS CREATIVITY, CRITICAL THINKING, EFFECTIVE COMMUNICATION, STRENGTH OF CHARACTER AND A SPIRIT OF INQUIRY. THE INSTITUTION SERVES STUDENTS PURSING BACCALAUREATE DEGREES IN THE LIBERAL ARTS, FINE ARTS AND PROFESSIONAL PROGRAMS AS WELL AS INTERDISCIPLINARY STUDY AND OFF CAMPUS LEARNING. SPECIFIC DISCIPLINES OF EMPHASIS INCLUDE BIOLOGY, NURSING, ACCOUNTING, BUSINESS, THEATER AND MUSIC. THE UNIVERSITY OFFERS A ROBUST STUDENT LIFE AND RESIDENTIAL EXPERIENCE TO CREATE AN INCLUSIVE COMMUNITY FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Zimmermann Trustee | Trustee | 2 | $0 |
Steven Dudash Trustee | Trustee | 2 | $0 |
Richard Ames Trustee | Trustee | 2 | $0 |
Marc Talluto Trustee | Trustee | 2 | $0 |
Timothy Szerlong Trustee | Trustee | 2 | $0 |
Ann Marquis Fisher Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Services Food Service | 7/30/23 | $4,288,105 |
Bldd Architects Architectural Services | 7/30/23 | $1,447,555 |
Core Construction Services Of Illinois General Contractor | 7/30/23 | $1,108,962 |
Ellucian Company Lp It Services Vendor | 7/30/23 | $799,540 |
Ruyle Mechanical Services General Contractor | 7/30/23 | $486,091 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $842,128 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,695,786 |
| Noncash contributions included in lines 1a–1f | $234,922 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,537,914 |
| Total Program Service Revenue | $48,065,946 |
| Investment income | $128,171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $200,978 |
| Net Gain/Loss on Asset Sales | $5,829,719 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $134,782 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,897,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $916,604 |
| Compensation of current officers, directors, key employees. | $916,604 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,126,573 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,919,592 |
| Payroll taxes | $1,476,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $239,877 |
| Fees for services: Accounting | $143,112 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,551,413 |
| Advertising and promotion | $0 |
| Office expenses | $4,469,187 |
| Information technology | $1,799,841 |
| Royalties | $0 |
| Occupancy | $7,221,043 |
| Travel | $1,461,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $254,391 |
| Interest | $2,036,267 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,420,536 |
| Insurance | $1,013,348 |
| All other expenses | $0 |
| Total functional expenses | $76,677,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,770,135 |
| Pledges and grants receivable | $2,061,385 |
| Accounts receivable, net | $1,854,281 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,744,462 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $328,767 |
| Net Land, buildings, and equipment | $140,221,627 |
| Investments—publicly traded securities | $251,684,065 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,625,196 |
| Total assets | $425,289,918 |
| Accounts payable and accrued expenses | $6,906,732 |
| Grants payable | $0 |
| Deferred revenue | $5,848,627 |
| Tax-exempt bond liabilities | $66,438,691 |
| 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 | $1,696,986 |
| Other liabilities | $21,842,390 |
| Total liabilities | $102,733,426 |
| Net assets without donor restrictions | $152,866,781 |
| Net assets with donor restrictions | $169,689,711 |
| 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 | $425,289,918 |