Tennessee Wesleyan University
- Assets
- $44.8m
- Revenue
- $36.5m
- Investments
- $0.0
- Employees
- 456
- Location
- Athens, TN
- Founding
- 06/1940
- Data as of
- 06/2022
- EIN
- 62-0476661
Organization Overview
Tennessee Wesleyan University is located in Athens, TN. 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 06/2023, Tennessee Wesleyan University employed 456 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee 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 06/2022, Tennessee Wesleyan University generated $36.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $36.4m during the year ending 06/2022. While expenses have increased by 4.5% 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
FOUR-YEAR LIBERAL ARTS COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 1000 STUDENTS.
ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES.
STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Honorable Jerri S Bryant Chancellor | Trustee | 1 | $0 |
Susan Buttram Board Member | Trustee | 1 | $0 |
Allen F Carter Board Member | Trustee | 1 | $0 |
Alan Guy Board Member | Trustee | 1 | $0 |
Jeffrey L Cunningham Board Member | Trustee | 1 | $0 |
Marilyn Miller Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corp Food Service | 6/29/23 | $1,528,076 |
Simmons Bank Loans | 6/29/23 | $1,170,985 |
Bluecross Blueshield Of Tn Insurance | 6/29/23 | $859,211 |
Athens Utility Board Utilities | 6/29/23 | $657,063 |
National Management Resources Corp Maintenance | 6/29/23 | $790,372 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,679,718 |
| Investment income | $272,698 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,534,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $12,055,024 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,455,575 |
| Pension plan accruals and contributions | $317,287 |
| Other employee benefits | $834,863 |
| Payroll taxes | $845,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,648 |
| Fees for services: Accounting | $79,072 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $219,647 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $492,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $688,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,691,811 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $36,432,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,305 |
| Savings and temporary cash investments | $1,977,495 |
| Pledges and grants receivable | $530,673 |
| Accounts receivable, net | $653,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,490 |
| Inventories for sale or use | $8,024 |
| Prepaid expenses and deferred charges | $157,769 |
| Investments—publicly traded securities | $15,313,778 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,814,456 |
| Accounts payable and accrued expenses | $1,276,516 |
| Grants payable | $0 |
| Deferred revenue | $868,506 |
| 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 | $23,657,417 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $497,727 |
| Total liabilities | $26,300,166 |
| Net assets without donor restrictions | $677,676 |
| Net assets with donor restrictions | $17,836,614 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $18,514,290 |