Wesley College Inc
- Assets
- $24.0m
- Revenue
- $24.1m
- Investments
- $0.0
- Employees
- 543
- Location
- Dover, DE
- Founding
- 04/1957
- Data as of
- 06/2021
- EIN
- 51-0064335
Organization Overview
Wesley College Inc is located in Dover, DE. The organization was established in 1957. 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, Wesley College Inc employed 543 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley College Inc 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, Wesley College Inc generated $24.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $39.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BE AMONG THE FINEST STUDENT-CENTERED LEARNING COMMUNITIES IN THE LIBERAL ARTS TRADITION
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESLEY COLLEGE IS A UNITED METHODIST INSTITUTION OF HIGHER EDUCATION THAT SEEKS TO BE AMONG THE FINEST STUDENT-CENTERED LEARNING COMMUNITIES IN THE LIBERAL ARTS TRADITION. CONSISTENT WITH OUR METHODIST HERITAGE, THE COLLEGE AFFIRMS MEANING AND PURPOSE IN LIFE THROUGH JUSTICE, COMPASSION, INCLUSION AND SOCIAL RESPONSIBILITIES THAT ENHANCE COMMUNITY LIFE AND RESPECT FOR THE ENVIRONMENT. WESLEY COLLEGE EXISTS TO LIBERATE AND EMPOWER ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, ETHICAL ATTITUDE AND CAPACITY FOR CRITICAL THINKING NEEDED TO ACHIEVE PERSONAL AND PROFESSIONAL GOALS AND TO CONTRIBUTE TO THE LOCAL AND GLOBAL SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Clark II President Emeritus | Officer | 40 | $231,160 |
Malcolm D'souza Dean Of Sponsored Research | 40 | $140,650 | |
Alban W Urbanas Acting President | Officer | 40 | $115,913 |
William J Strickland Chair | OfficerTrustee | 1 | $0 |
William H Willis Jr Vice Chair | OfficerTrustee | 1 | $0 |
Stephanie Smith Christiano Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Dining Services Dining Services | 6/29/21 | $1,854,873 |
National Management Resources Corp Facilities Maintenance | 6/29/21 | $1,973,219 |
Ellucian Company Lp It Services | 6/29/21 | $1,616,214 |
C & N Services Llc Repairs, Maintenance Capital Projects | 6/29/21 | $1,052,979 |
Delmarva Campus Housing Facilities Maintenance | 6/29/21 | $1,635,785 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $838,286 |
| All other contributions, gifts, grants, and similar amounts not included above | $740,605 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,578,891 |
| Total Program Service Revenue | $24,468,526 |
| Investment income | $36,701 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,965,792 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,133,723 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,996,858 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $378,103 |
| Compensation of current officers, directors, key employees. | $60,497 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,678,041 |
| Pension plan accruals and contributions | $100,201 |
| Other employee benefits | $982,449 |
| Payroll taxes | $700,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $232,894 |
| Fees for services: Accounting | $58,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,377 |
| Fees for services: Other | $207,178 |
| Advertising and promotion | $20,178 |
| Office expenses | $437,602 |
| Information technology | $1,774,021 |
| Royalties | $0 |
| Occupancy | $5,593,571 |
| Travel | $79,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,309 |
| Interest | $378,615 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,052,585 |
| Insurance | $405,945 |
| All other expenses | $875,384 |
| Total functional expenses | $38,992,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525,238 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,450,180 |
| 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 | $0 |
| Net Land, buildings, and equipment | $18,715,855 |
| Investments—publicly traded securities | $2,275,451 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,961 |
| Other assets | $0 |
| Total assets | $23,971,685 |
| Accounts payable and accrued expenses | $9,132,143 |
| Grants payable | $0 |
| Deferred revenue | $1,984,595 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $70,117 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,011,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,037 |
| Total liabilities | $18,224,566 |
| Net assets without donor restrictions | -$1,095,960 |
| Net assets with donor restrictions | $6,843,079 |
| 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 | $23,971,685 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wesley College Inc has recieved totaling $300.
| Awarding Organization | Amount |
|---|---|
Andrew And Carol Parsons Family Foundation Fisher Island, FL PURPOSE: EDUCATION | $300 |
Endowment Analysis
| Beg. Balance | $3,157,250 |
| Earnings | $518,578 |
| Admin Expense | $15,377 |
| Other Expense | $1,385,000 |
| Ending Balance | $2,275,451 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lebanon Valley College Annville, PA | $214,348,628 | $104,612,783 |
Seton Hill University Greensburg, PA | $189,465,294 | $99,847,300 |
Juniata College Huntingdon, PA | $246,892,473 | $100,031,718 |
Washington And Jefferson College Washington, PA | $317,857,588 | $82,152,318 |
Elizabethtown College Elizabethtown, PA | $232,746,641 | $88,467,618 |
Saint Vincent College Latrobe, PA | $298,895,974 | $111,303,783 |
Chatham University Pittsburgh, PA | $217,171,716 | $86,845,252 |
Board Of Trustees Of Essex County College Newark, NJ | $178,662,602 | $106,959,657 |
Washington College Chestertown, MD | $509,587,236 | $93,610,957 |
Grove City College Grove City, PA | $365,541,622 | $83,257,741 |
Lycoming College Williamsport, PA | $279,702,335 | $68,926,133 |