Civic Intelligence

Wilkes University

990 • Fiscal year 2018 • EIN 24-0795506

Jun 01, 2017 to May 31, 2018 • Filed on Apr 04, 2019

84 West South StreetWilkes Barre, PA 18766

(570) 408-4500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.44x

Higher debt load relative to assets than 64% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

61st percentile

0.67x

Higher debt load relative to revenue than 61% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

59th percentile

6.9%

Higher net margin than 59% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$489,349

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

60th percentile

4.9%

Faster asset growth than 60% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

54th percentile

6.4%

Faster revenue growth than 54% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$227,558,147

Up $10,557,124 (+4.9%) from 2017

Net Assets

Up

$126,350,551

Up $10,453,446 (+9.0%) from 2017

Liabilities

Up

$101,207,596

Up $103,678 (+0.1%) from 2017

Revenue

Up

$151,572,972

Up $9,122,605 (+6.4%) from 2017

Expenses

Up

$141,080,974

Up $2,894,834 (+2.1%) from 2017

Net Income

Up

$10,491,998

Up $6,227,771 (+146%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $144,202,555Liabilities 2010: $70,455,773Net Assets 2010: $73,746,7822010Assets 2011: $151,354,084Liabilities 2011: $70,165,867Net Assets 2011: $81,188,2172011Assets 2012: $169,047,074Liabilities 2012: $88,152,779Net Assets 2012: $80,894,2952012Assets 2013: $189,461,510Liabilities 2013: $94,658,530Net Assets 2013: $94,802,9802013Assets 2014: $201,908,746Liabilities 2014: $97,951,293Net Assets 2014: $103,957,4532014Assets 2015: $201,180,987Liabilities 2015: $94,944,504Net Assets 2015: $106,236,4832015Assets 2017: $217,001,023Liabilities 2017: $101,103,918Net Assets 2017: $115,897,1052017Assets 2018: $227,558,147Liabilities 2018: $101,207,596Net Assets 2018: $126,350,5512018Assets 2019: $230,606,431Liabilities 2019: $103,828,421Net Assets 2019: $126,778,0102019Assets 2020: $232,735,413Liabilities 2020: $107,706,458Net Assets 2020: $125,028,9552020Assets 2021: $257,594,047Liabilities 2021: $112,942,930Net Assets 2021: $144,651,1172021Assets 2022: $255,715,402Liabilities 2022: $110,690,776Net Assets 2022: $145,024,6262022

Highlighted filing

2018

Assets$227,558,147
Liabilities$101,207,596
Net Assets$126,350,551

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $99,334,6382010Expenses 2011: $102,663,2882011Expenses 2012: $101,519,9282012Expenses 2013: $103,039,0732013Revenue 2014: $116,646,619Expenses 2014: $108,596,850Net Income 2014: $8,049,7692014Revenue 2015: $120,193,942Expenses 2015: $115,156,847Net Income 2015: $5,037,0952015Revenue 2017: $142,450,367Expenses 2017: $138,186,140Net Income 2017: $4,264,2272017Revenue 2018: $151,572,972Expenses 2018: $141,080,974Net Income 2018: $10,491,9982018Revenue 2019: $150,728,118Expenses 2019: $146,506,000Net Income 2019: $4,222,1182019Revenue 2020: $139,424,489Expenses 2020: $142,466,122Net Income 2020: -$3,041,6332020Revenue 2021: $146,082,857Expenses 2021: $137,178,946Net Income 2021: $8,903,9112021Revenue 2022: $160,900,129Expenses 2022: $153,585,983Net Income 2022: $7,314,1462022

Highlighted filing

2018

Revenue$151,572,972
Expenses$141,080,974
Net Income$10,491,998
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 4, 2019
Return Version
2017v2.3
Gross Receipts
$161,180,131
Mission and Program Overview

Mission

Please see schedule o for detail.to continue the wilkes tradition of liberally educating our students for lifelong learning and success in a constantly evolving and multicultural world through a commitment to individualized attention, exceptional teaching, scholarship, and academic excellence, while continuing the university's commitment to community engagement.

To educate through a commitment to attention, exceptional teaching, and academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$109,504,527$118,161,536▲ $8,657,009
Investments in Publicly Traded Securities$44,295,427$48,458,922▲ $4,163,495
Savings and Temporary Cash Investments$31,612,093$29,608,775▼ $2,003,318
Investments Other Securities$16,990,696$17,152,862▲ $162,166
Pledges and Grants Receivable$6,651,720$7,288,622▲ $636,902
Investments Program Related$3,993,541$3,646,266▼ $347,275
Prepaid Expenses and Deferred Charges$1,337,614$1,350,433▲ $12,819
Accounts Receivable$1,182,772$1,034,726▼ $148,046
Cash and Non-Interest-Bearing Accounts$5,100$5,556▲ $456
Total Assets$217,001,023$227,558,147▲ $10,557,124
Other Assets Total$1,427,533$850,449▼ $577,084
Liabilities
Tax Exempt Bond Liabilities$71,378,376$68,636,753▼ $2,741,623
Other Liabilities$12,111,282$11,881,820▼ $229,462
Accounts Payable and Accrued Expenses$10,669,812$11,099,894▲ $430,082
Deferred Revenue$6,944,448$7,089,129▲ $144,681
Mortgage Notes Payable Secured by Investment Property-$2,500,000-
Total Liabilities$101,103,918$101,207,596▲ $103,678
Net Assets / Fund Balance
Unrestricted Net Assets$66,171,717$73,091,463▲ $6,919,746
Permanently Rstr Net Assets$32,186,018$34,171,810▲ $1,985,792
Temporarily Rstr Net Assets$17,539,370$19,087,278▲ $1,547,908
Total Net Assets Fund Balance$115,897,105$126,350,551▲ $10,453,446
Total Liabilities and Net Assets / Fund Balance$217,001,023$227,558,147▲ $10,557,124

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$97,425,549$65,499,825$162,925,374
Equipment$5,459,287$16,184,823$21,644,110
Other Land Buildings$9,210,405$11,047,598$20,258,003
Land$6,066,295-$6,066,295
Other Securities$4,172,374--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$47,733,723$1,822,744▲ $4,171,178-$51,627,190
2016$40,589,592$2,565,969▲ $6,684,695-$47,733,723
2015$43,410,267$1,092,967▼ $1,955,151-$40,589,592
2014$43,729,478$425,300▲ $1,109,984-$43,410,267
2013$40,534,859$366,481▲ $4,714,391-$43,729,478
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick F LeahyPresidentFT$390,430$98,919$489,349
Anne SklederSenior VP / ProvostFT$222,682$50,350$273,032
Loren D Prescott JrVP of Finance and General CounselFT$216,905$34,096$251,001
Thomas MackinnonVP of AdvancementFT$174,165$54,859$229,024
Bernard GrahamDean of PharmacyFT$193,907$29,909$223,816
Michael WoodVP Special Asst. to the PresidentFT$179,550$35,759$215,309
Paul AdamsVP of Student AffairsFT$178,168$30,977$209,145
Terese WignotAssoc Provost Enrollment (begin 7/17)FT$169,748$23,747$193,495
Terese WignotAssoc Provost Enrollment (begin 7/17-$165,134$28,361$193,495
John StachaczDean for Library and ItFT$156,352$34,284$190,636
William HudsonDean of College of Sci & Eng.FT$155,406$30,498$185,904
Marianne RexerProfessor / Director AbbaFT$171,600$12,344$183,944
Rodney RidleyAllan P. Kirby DirectorFT$152,056$29,154$181,210
Abel AdekolaDean of Sidhu Business SchoolFT$157,827$20,535$178,362
Prahlad MurthyProfessor / Engineering Dept.FT$161,218$14,609$175,827
Teri OomsExec Director Joint UrbanFT$156,290$17,907$174,197
Jonathan FerenceAssociate Provost (begin 7/17)FT$109,423$21,311$130,734
Brian DaltonFormer VP Enrollment Services-$43,556$61,539$105,095

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Hotchalk INCDistance Education1999 S BASCOM AVE SUITE 1030, Campbell, CA 95008$6,471,079
Aramark Services INCFood Service1101 MARKET STREET, Philadelphia, PA 19101-7548$4,112,426
Learning Sciences InternationalGraduate Course Provider175 CORNELL ROAD, Blairsville, PA 15717$1,408,969
Ellucian Company LPComputer Management Services2003 EDMUND HALLEY DRIVE, Reston, VA 20191$702,803
Aspire Technology Partners LLCNetwork Services600 EAGLEVIEW DR SUITE 300, Exton, PA 19341$442,728
Revenue and Support

Revenue Composition

Contributions and Grants
$15,442,906
Program Service Revenue
$131,020,179
Investment Income
$2,786,361
Other Revenue
$2,323,526
All Other Contributions
$7,244,258
Change in Net Assets
$10,491,998

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table7$29,103Estimated Fair Market Value (FMV)
Books and Publications-$769Estimated Fair Market Value (FMV)
Total Noncash Contributions7$29,872-

Audited Revenue Reconciliation

Revenue per Audited Statements
$151,846,838
Revenue Not Reported on Financial Statements
$-273,866
Revenue Not Reported on Form 990
$-1,761,004
Other Revenue Adjustments
$-273,866
Total Revenue per Audited Statements
$150,085,834
Total Revenue per Form 990
$151,572,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$58,968,017
Other Expenses$41,807,267
Grants and Similar Amounts Paid$40,304,190
Total Fundraising Expense$1,236,818
Professional Fundraising Fees$1,500

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,193,721$4,676,686$608,818$44,479,225
Grants to Domestic Individuals$40,304,190--$40,304,190
Fees for Services Other$10,781,132$2,628,181$3,482$13,412,795
Depreciation Depletion$5,964,209$641,930-$6,606,139
Other Employee Benefits$5,380,067$776,762$85,858$6,242,687
Occupancy$3,572,768$406,880-$3,979,648
Office Expenses$2,625,465$562,427$92,693$3,280,585
Payroll Taxes$2,855,264$371,198$39,551$3,266,013
Interest$2,787,327$299,957-$3,087,284
Information Technology$2,609,072$91,844-$2,700,916
Current Officers, Directors, Trustees, and Key Employees$580,480$1,866,239$194,277$2,640,996
Pension Plan Contributions$2,096,294$217,882$24,920$2,339,096
Travel$1,585,054$144,420$11,823$1,741,297
All Other Expenses$740,330$531,266$36,347$1,307,943
Advertising$134,130$656,896$12,608$803,634
Insurance$429,190$291,825$2,754$723,769
Other Expenses$110,185$361,817$38,807$510,809
Conferences and Meetings$238,340$85,981$415$324,736
Fees for Service Investment Mgmnt Fees-$267,141-$267,141
Fees for Services Legal-$97,875-$97,875
Fees for Services Accounting-$93,194-$93,194
Fees for Services Professional Fundraising--$1,500$1,500
Total Functional Expenses$123,454,840$16,389,316$1,236,818$141,080,974

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$141,080,974
Total Expenses per Audited Statements$139,632,388
Expenses per Audited Statements$139,341,097
Expenses Not Reported on Financial Statements$1,739,877
Other Expense Adjustments$1,739,877
Expenses Not Reported on Form 990$291,291
International Activity

International Summary

Offices
0
Employees
2
Spending
$3,432,692

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America/ CaribbeanInvestments - Alternative InvestmentsRecruitment00$2,912,000
EuropeInvestments - Alternative Investments-00$222,000
Central America/ CaribbeanProgram ServicesStrategic Initiative and Study Abroad00$161,401
Middle East and North AfricaProgram Services-01$57,981
EuropeProgram ServicesRecruitment00$43,310
North AmericaInvestments - Alternative Investments-00$20,000
East Asia and the PacificProgram ServicesInstruction and Research01$14,000
Sub-saharan AfricaInvestments - Alternative Investments-00$2,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$231,815
Fundraising Gross Income$227,011
Professional Fundraising Fees$1,500

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
COLONEL'S CLUB$241,799$175,590$96,499$79,091
FOUNDER'S GALA$834,833$41,000$57,346$-16,346
Total Events$1,095,192$227,011$231,815$-4,804
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Matthew SordoniTrusteeSee Part VNo$2,243,130
Robert MugfordTrustee, EmeritiSee Part VNo$607,446
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Investments Held in Trust for Others$4,172,374
Capital Lease Obligations$3,409,718
Advances From Federal Government$3,314,522
Postretirement Benefits$551,571
Liability Under Split Interest$311,639
Deposits Held in Custody$121,996

Bond Issues

BondIssuerIssuedIssue PricePurpose
CNortheastern Pa Hospital & Education Authority2016-05-19$33,603,743Advance refunding bonds 2007
DNortheastern Pa Hospital & Education Authority2016-12-20$20,012,768REFUNDING BONDS 2007
ANortheastern Pa Hospital & Education Authority2012-05-09$16,956,391FINANCE NEW FACILITY
BNortheastern Pa Hospital & Education Authority2012-04-13$15,000,000FINANCE NEW FACILITY

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$33,603,743-$805,000$480,772
D$20,012,768--$305,329
A$16,956,391$33,119,026$13,476,370$284,230
B$15,000,000$19,707,439$990,000$139,234

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Eugene roth and steven roth, both board members, are father and son.

Form 990, Part VI, Section B, Line 11B

Wilkes university has established a review process for the form 990. Once the draft form 990 return is received, it is reviewed by the finance office. After this review, it is sent to the vp of finance and general counsel. A final review is then done by the board of trustees before the return is filed.

Form 990, Part VI, Section B, Line 12C

Wilkes university's conflict of interest policy covers all board members. Any conflicts of interest concerning board members are forwarded to the audit committee for review and approval. All conflict of interest statements are reviewed upon submission and forwarded to the audit committee as appropriate.

Form 990, Part VI, Section B, Line 15

The human resources committee of the board of trustees performs an annual review of the compensation provided to the university's president and vice presidents. Benchmark data, including data from colleges and university professional association for human resources (cupa) is used for comparative purposes for executive positions. The benchmarking comparison is completed on an annual basis. The university keeps written documentation of the human resources committee's deliberation and decision making process.

Form 990, Part VI, Section C, Line 19

Wilkes university makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Wilkes University
EIN
24-0795506
Phone
5704084500
Address
84 WEST SOUTH STREET, WILKES BARRE, PA 18766

Signing Officer

Name
Loren D Prescott Jr
Title
Vice President of Finance
Phone
5704084500
Signed
2019-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick F Leahy
Formed
1933
Legal Domicile
Pa
Voting Board Members
31
Independent Board Members
30
Employees
2,123
Volunteers
306

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
1650 MARKET STREET SUITE 4500, PHILADELPHIA, PA 19103-7341
Preparer
Julius C Green CPA
Phone
2159720701
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Student loans advanced 253,706. Change in liability on split interest agreements 235,029.

Financial Statement Notes

PART V, LINE 4:

The intended use of the university's endowment funds is to fund scholarships as well as departmental chairs and to support operating expenses.

PART X, LINE 2:

Management evaluates income tax positions taken by the university and recognizes a tax liability (or asset) if the university has taken an uncertain tax position that more likely than not would not be sustained upon examination by the irs. Management has analyzed the tax positions taken by the university, and has concluded that as of may 31, 2018, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The university is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split interest agreements 235,029. Investment expenses netted to income on financials -242,460. Room grants netted against auxiliary revenue on financials -1,243,711.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses -231,815. Rental expenses -42,051.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses 231,815. Rental expenses 42,051.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Student loans disbursed 253,706. Investment expenses netted to income on financials 242,460. Room grants netted against auxiliary revenues on financials 1,243,711.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ContractorCompensationGrp/ServicesDesc2GRADUATE COURSE PROVIDER
IRS990/ContractorCompensationGrp/ServicesDesc3COMPUTER MANAGEMENT SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4NETWORK SERVICES
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IRS990/Desc0INSTRUCTION - INCLUDES ALL EXPENDITURES FOR ACTIVITIES THAT ARE PART OF THE INSTITUTION'S INSTRUCTIONAL PROGRAMS. THIS INCLUDES CREDIT AND NON-CREDIT COURSES, ACADEMIC, VOCATIONAL, AND TECHNICAL INSTRUCTION. THE UNIVERSITY OFFERS 45 UNDERGRADUATE MAJORS, 14 GRADUATE PROGRAMS, AND SEVERAL PRE-PROFESSIONAL PROGRAMS. ENROLLMENT INCLUDES 2,233 FULL-TIME UNDERGRADUATE STUDENTS FROM 23 STATES AND 12 FOREIGN COUNTRIES. CLASS SIZES ARE KEPT SMALL TO ENABLE GREATER ACCESS TO PROFESSORS AND MORE INDIVIDUALIZED ATTENTION IN THE CLASSROOM. UNDERGRADUATE FRESHMEN CLASS SIZES AVERAGE 22 STUDENTS WITH 19 STUDENTS FOR UPPER LEVEL CLASSES. WILKES IS DEDICATED TO BEING A LEADER IN HIGHER EDUCATION THROUGHOUT THE NORTHEASTERN UNITED STATES AND IS DEDICATED TO ACADEMIC EXCELLENCE THROUGH MENTORING.
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IRS990/Form990PartVIISectionAGrp/PersonNm3LAURA BARBERA CARDINALE
IRS990/Form990PartVIISectionAGrp/PersonNm4VIRGINIA SIKES UNTIL 0118
IRS990/Form990PartVIISectionAGrp/PersonNm5MICHAEL BREWSTER
IRS990/Form990PartVIISectionAGrp/PersonNm6TERRENCE CASEY
IRS990/Form990PartVIISectionAGrp/PersonNm7CHARLES COHEN
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IRS990/Form990PartVIISectionAGrp/PersonNm9WILLIAM GRANT
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$256$111$145$161$154$7.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$258$113$145$146$137$8.90
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$233$108$125$139$142$3.04
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$231$104$127$151$147$4.22
2018Detailed filing. Detailed filing data is available for this year.$228$101$126$152$141$10.5
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$217$101$116$142$138$4.26
2015Detailed filing. Detailed filing data is available for this year.$201$94.9$106$120$115$5.04
2014Detailed filing. Detailed filing data is available for this year.$202$98.0$104$117$109$8.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$189$94.7$94.8$103
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$169$88.2$80.9$102
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$151$70.2$81.2$103
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$144$70.5$73.7$99.3