Wisconsin Association Of Independent Colleges And Universit
- Assets
- $20.6m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 22
- Location
- Madison, WI
- Founding
- 07/1975
- Data as of
- 06/2022
- EIN
- 39-1039417
Organization Overview
Wisconsin Association Of Independent Colleges And Universit is located in Madison, WI. The organization was established in 1975. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2022, Wisconsin Association Of Independent Colleges And Universit employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Association Of Independent Colleges And Universit 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 06/2022, Wisconsin Association Of Independent Colleges And Universit generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.0m during the year ending 06/2022. While expenses have increased by 0.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND FACILITATE SERVICES TO WISCONSIN'S PRIVATE NONPROFIT COLLEGES AND UNIVERSITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLABORATIVE SERVICES - THE WAICU COLLABORATION PROJECT IS A COMPREHENSIVE INITIATIVE TO PERFORM ADMINISTRATIVE SUPPORT FUNCTIONS OF WISCONSIN'S TWENTY-THREE PRIVATE NONPROFIT COLLEGES AND UNIVERSITIES ON A COLLABORATIVE BASIS. THE OBJECTIVES ARE TO SAVE MONEY, TO IMPROVE THE QUALITY OF SERVICES TO STUDENTS, FACULTY, AND STAFF, AND TO SERVE AS A NATIONAL MODEL FOR CONTROLLING COLLEGE COSTS.
SCHOLARSHIPS - THE ORGANIZATION AWARDS ON AN ANNUAL BASIS APPROXIMATELY $900,000 TO 120 PRIVATE COLLEGE STUDENTS. IN ADDITION THEY MANAGE SIX ENDOWED SCHOLARSHIP PROGRAMS VALUED AT APPROXIMATELY $16.7 MILLION. THESE SCHOLARSHIPS ALLOW MANY STUDENTS TO CONTINUE THEIR COLLEGE EDUCATION.
STUDENT ACCESS - WAICU HAS ORGANIZED JOINT ADMISSION PROGRAMS SINCE 1978., FOCUSING ON CONTACTS WITH POTENTIAL STUDENTS AND THEIR PARENTS AND COUNSELORS EACH YEAR. WAICU'S ADMISSION PROGRAMS ARE SPECIFICALLY DESIGNED TO REINFORCE THE STUDENT RECRUITMENT EFFORTS OF MEMBERS. WAICU'S ROLE IS TO HIGHLIGHT THE AFFORDABILITY AND OPPORTUNITIES QUALITY OF WISCONSIN'S PRIVATE NONPROFIT COLLEGES AND TO CREATE OPPORTUNITIES FOR STUDENTS AND COUNSELORS TO CONSIDER PRIVATE NONPROFIT COLLEGES.
ADVOCACY AND RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rolf Wegenke President | Officer | 40 | $334,262 |
Rebecca A Larson Sr. VP For Advocacy | Officer | 40 | $148,576 |
Jennifer E Dehart Sr. VP For Collaborative Service | Officer | 12 | $141,246 |
Elizabeth Simon Sr. VP For Finance & Operations | Officer | 40 | $105,350 |
Connie J Boerst Director | Trustee | 1 | $0 |
Beth Borland Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hovde Properties Property Management | 6/29/22 | $201,605 |
Ibm Corp Technology | 6/29/22 | $217,439 |
Ceresco Consulting Technology | 6/29/22 | $135,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $447,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $447,600 |
| Total Program Service Revenue | $3,062,364 |
| Investment income | $858,351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $527,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,896,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $893,088 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $654,543 |
| Compensation of current officers, directors, key employees. | $265,462 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $663,518 |
| Pension plan accruals and contributions | $54,509 |
| Other employee benefits | $301,409 |
| Payroll taxes | $89,209 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,630 |
| Fees for services: Accounting | $71,747 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,534 |
| Fees for services: Other | $384,561 |
| Advertising and promotion | $0 |
| Office expenses | $279,439 |
| Information technology | $51,009 |
| Royalties | $0 |
| Occupancy | $219,720 |
| Travel | $22,815 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,994 |
| Insurance | $96,776 |
| All other expenses | -$3,339 |
| Total functional expenses | $3,966,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,233,760 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $102,000 |
| Accounts receivable, net | $89,690 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $427,496 |
| Net Land, buildings, and equipment | $42,957 |
| Investments—publicly traded securities | $16,706,144 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,602,047 |
| Accounts payable and accrued expenses | $96,308 |
| Grants payable | $0 |
| Deferred revenue | $219,023 |
| 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 | $14,392 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $83,868 |
| Total liabilities | $413,591 |
| Net assets without donor restrictions | $3,182,107 |
| Net assets with donor restrictions | $17,006,349 |
| 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 | $20,602,047 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Wisconsin Association Of Independent Colleges And Universit has recieved totaling $413,100.
| Awarding Organization | Amount |
|---|---|
Rath Foundation Inc Janesville, WI PURPOSE: SUPPORT FOR DEVELOPMENT OF INDEPENDENT COLLEGES & UNIVERSITIES IN WISCONSIN | $221,100 |
Theodore W Batterman Family Foundation Inc Milwaukee, WI PURPOSE: WAICU NONPROFIT INTERNSHIP PROGRAM | $102,000 |
Ruth St John & John Dunham West Foundation Inc Manitowoc, WI PURPOSE: RESTRICTED | $60,000 |
Kikkoman Foods Foundation Inc Walworth, WI PURPOSE: FINANCIAL SUPPORT 2022 | $30,000 |
Endowment Analysis
| Beg. Balance | $17,367,970 |
| Earnings | -$2,689,527 |
| Admin Expense | $169,401 |
| Net Contributions | $222,100 |
| Grants | $668,250 |
| Ending Balance | $14,062,892 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Higher Learning Commission Chicago, IL | $30,215,357 | $14,566,348 |
Best Academy Inc Minneapolis, MN | $10,985,443 | $14,343,198 |
Lincoln Christian University Lincoln, IL | $26,403,234 | $11,063,987 |
Leech Lake Tribal College Cass Lake, MN | $13,791,510 | $6,377,712 |
Puritan Reformed Theological Seminary Grand Rapids, MI | $13,368,431 | $7,247,093 |
Wisconsin Association Of Independent Colleges And Universit Madison, WI | $20,602,047 | $4,896,137 |
Institute For American Universities Batavia, IL | $0 | $2,168,286 |
Ascendium Education Group Inc Madison, WI | $2,297,580,826 | $30,305,077 |
Illini Media Company Champaign, IL | $660,510 | $954,260 |
Grand Valley University Foundation Allendale, MI | $3,517,597 | $1,567,995 |
Taskin Educational Organization Rolling Meadows, IL | $5,195,736 | $2,445,320 |
Darien Study Center Inc Darien, IL | $5,636,681 | $500,706 |