Civic Intelligence

Wilmington College

990 • Fiscal year 2021 • EIN 31-0537514

Jul 01, 2020 to Jun 30, 2021 • Filed on May 15, 2022

1870 Quaker WayWilmington, OH 45177

(937) 481-2243

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.21x

Higher debt load relative to assets than 43% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

46th percentile

0.40x

Higher debt load relative to revenue than 46% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

82nd percentile

41%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

13th percentile

$206,420

Higher top officer pay than 13% of similar nonprofits.

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

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

76th percentile

22%

Faster asset growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

73rd percentile

29%

Faster revenue growth than 73% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$137,983,559

Up $24,993,689 (+22%) from 2020

Net Assets

Up

$109,320,924

Up $33,856,294 (+45%) from 2020

Liabilities

Down

$28,662,635

Down $8,862,605 (-24%) from 2020

Revenue

Up

$72,527,709

Up $16,508,836 (+29%) from 2020

Expenses

Up

$42,732,460

Up $1,600,472 (+3.9%) from 2020

Net Income

Up

$29,795,249

Up $14,908,364 (+100%) from 2020

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $66,035,685Liabilities 2010: $16,959,513Net Assets 2010: $49,076,1722010Assets 2011: $68,790,614Liabilities 2011: $17,320,466Net Assets 2011: $51,470,1482011Assets 2012: $67,521,798Liabilities 2012: $17,156,054Net Assets 2012: $50,365,7442012Assets 2013: $68,366,814Liabilities 2013: $14,424,577Net Assets 2013: $53,942,2372013Assets 2014: $74,538,681Liabilities 2014: $16,079,321Net Assets 2014: $58,459,3602014Assets 2015: $89,745,615Liabilities 2015: $29,120,768Net Assets 2015: $60,624,8472015Assets 2016: $92,836,335Liabilities 2016: $34,280,410Net Assets 2016: $58,555,9252016Assets 2017: $96,743,546Liabilities 2017: $36,738,404Net Assets 2017: $60,005,1422017Assets 2018: $98,699,690Liabilities 2018: $37,357,318Net Assets 2018: $61,342,3722018Assets 2019: $98,221,161Liabilities 2019: $36,289,458Net Assets 2019: $61,931,7032019Assets 2020: $112,989,870Liabilities 2020: $37,525,240Net Assets 2020: $75,464,6302020Assets 2021: $137,983,559Liabilities 2021: $28,662,635Net Assets 2021: $109,320,9242021Assets 2022: $125,090,188Liabilities 2022: $24,627,102Net Assets 2022: $100,463,0862022Assets 2023: $124,718,529Liabilities 2023: $22,886,495Net Assets 2023: $101,832,0342023Assets 2024: $123,554,082Liabilities 2024: $21,925,023Net Assets 2024: $101,629,0592024

Highlighted filing

2021

Assets$137,983,559
Liabilities$28,662,635
Net Assets$109,320,924

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $37,010,9762010Expenses 2011: $38,339,1412011Expenses 2012: $39,798,4872012Expenses 2013: $40,258,1472013Revenue 2014: $41,539,183Expenses 2014: $40,807,369Net Income 2014: $731,8142014Revenue 2015: $46,022,459Expenses 2015: $42,379,014Net Income 2015: $3,643,4452015Revenue 2016: $36,292,346Expenses 2016: $37,180,873Net Income 2016: -$888,5272016Revenue 2017: $37,911,235Expenses 2017: $37,878,205Net Income 2017: $33,0302017Revenue 2018: $40,344,716Expenses 2018: $38,779,624Net Income 2018: $1,565,0922018Revenue 2019: $39,940,482Expenses 2019: $40,179,802Net Income 2019: -$239,3202019Revenue 2020: $56,018,873Expenses 2020: $41,131,988Net Income 2020: $14,886,8852020Revenue 2021: $72,527,709Expenses 2021: $42,732,460Net Income 2021: $29,795,2492021Revenue 2022: $36,397,348Expenses 2022: $40,865,659Net Income 2022: -$4,468,3112022Revenue 2023: $37,880,480Expenses 2023: $44,205,280Net Income 2023: -$6,324,8002023Revenue 2024: $37,824,972Expenses 2024: $45,253,931Net Income 2024: -$7,428,9592024

Highlighted filing

2021

Revenue$72,527,709
Expenses$42,732,460
Net Income$29,795,249
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 15, 2022
Return Version
2020v4.1
Gross Receipts
$121,254,009
Mission and Program Overview

Mission

The mission of wilmington college is to educate, inspire and prepare each student for a life of service and success. To fulfill that mission, wilmington college provides a high quality undergraduate and graduate educational environment shaped by the traditions of the liberal arts, career preparation and the distinctive practices of the religious society of friends (quakers). By offering academic programs, practical experience and co-curricular activities in a variety of settings to students from diverse backgrounds, the college leads students to gain an awareness of the world, to acquire knowledge of career and vocation and to seek truth and social justice. In keeping with the rich heritage of the liberal arts, the college seeks to educate the whole person - intellectual, emotional, physical and spiritual - in ways that foster critical thinking, reflection, the free exchange of ideas, open inquiry, respect for all persons and a desire for lifelong learning. The liberal arts are integra

The purpose of wilmington college is to educate, inspire, and prepare each student for a life of success and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$47,211,563$67,259,228▲ $20,047,665
Land, Buildings, and Equipment, Net$33,706,490$37,849,396▲ $4,142,906
Other Notes and Loans Receivable, Net$10,945,321$10,262,674▼ $682,647
Investments Other Securities$7,407,363$7,353,867▼ $53,496
Savings and Temporary Cash Investments$5,790,355$5,824,816▲ $34,461
Accounts Receivable$887,270$872,330▼ $14,940
Pledges and Grants Receivable$605,799$828,364▲ $222,565
Prepaid Expenses and Deferred Charges$188,877$338,697▲ $149,820
Inventories for Sale or Use$49,706$50,910▲ $1,204
Cash and Non-Interest-Bearing Accounts$305$305→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$112,989,870$137,983,559▲ $24,993,689
Other Assets Total$6,196,821$7,342,972▲ $1,146,151
Liabilities
Mortgage Notes Payable Secured by Investment Property$28,678,238$21,100,845▼ $7,577,393
Other Liabilities$5,333,328$4,458,826▼ $874,502
Deferred Revenue$2,183,760$1,805,504▼ $378,256
Accounts Payable and Accrued Expenses$1,329,914$1,297,460▼ $32,454
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$37,525,240$28,662,635▼ $8,862,605
Net Assets / Fund Balance
Net Assets With Donor Restrictions$48,177,579$62,053,486▲ $13,875,907
Net Assets Without Donor Restrictions$27,287,051$47,267,438▲ $19,980,387
Total Net Assets Fund Balance$75,464,630$109,320,924▲ $33,856,294
Total Liabilities and Net Assets / Fund Balance$112,989,870$137,983,559▲ $24,993,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,012,080$25,810,572$57,822,652
Equipment$2,121,524$18,342,158$20,463,682
Other Land Buildings$1,692,812$2,001,723$3,694,535
Land$2,022,980-$2,022,980
Other Assets Org$5,066,538--
Other Securities$7,289,030--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$24,245,837$825,299▲ $7,621,868$462,451$31,434,730
2019$25,084,386$998,211▼ $619,134$452,852$24,245,837
2018$25,200,895$300,303▲ $782,070$447,490$25,084,386
2017$24,863,479$358,115▲ $1,628,174$635,423$25,200,895
2016$22,802,311$326,990▲ $2,856,057$439,066$24,863,479
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erika GoodwinProvostFT$169,550$36,870$206,420
Bradley MitchellVP Business/financeFT$150,320$34,179$184,499
Matt WahrhaftigVP for AdvancementFT$114,258$45,881$160,139
Dennis KellyVP of Enrollment ManagementFT$135,069$24,791$159,860
Cindy HahnDirector of Occupational TherapyFT$127,873$30,793$158,666
Trevor BatesPresidentFT$132,498$6,571$139,069
Sigrid SolomonVP Student Affairs/DeanFT$124,330$12,946$137,276
Terry RupertDirector of AthleticsFT$125,493$7,865$133,358

Board Members and Trustees

NameTitle
Peggy J SturdivantTrustee / Chair
Richard SidwellTrustee / Chair
Aaron DenuTrustee
Brent BillTrustee
Dan BuckleyTrustee
Daniel Smith-christopherTrustee
Elizabeth J GarveyTrustee
Evan WilliamsTrustee
Evans NwankwoTrustee
Jeremiah GuapponeTrustee
John R ReidTrustee
Jonathan C MckayTrustee
Larry SidwellTrustee
Marcy HawleyTrustee
Nancy SummersTrustee
Pamela MccoyTrustee
Sidney MishkinTrustee
Timothy a BurenTrustee
Tyrone TaylorTrustee
William P ShawTrustee
Mary Ann RaizkTrustee - Term Ended
William E PeelleTrustee - Term Ended
Henry B FreemanTrustee / Assistant Secretary
William D ShoecraftTrustee / Secretary
Renee LapineTrustee / Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Megen Construction CompanyConstruction11130 ASHBURN ROAD, Cincinnati, OH 45240$3,963,492
Sodexo INC And AffiliatesCafeteriaPO BOX 360170, Pittsburh, PA 15251-6170$1,400,342
Alpha And OmegaCleaning2843 CULVER AVE, Kettering, OH 45249$656,433
3 Enrollment MarketingMarketing352 MAIN STREET 333, Oneonta, NY 13820$370,100
The Motz GroupAthletic Facilities3607 CHURCH STREET, Cincinnati, OH 45244$286,003
Revenue and Support

Revenue Composition

Contributions and Grants
$24,313,131
Program Service Revenue
$36,013,942
Investment Income
$11,668,973
Other Revenue
$531,663
All Other Contributions
$19,506,664
Change in Net Assets
$29,795,249

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 Table3$14,675Current Value
Other Non Cash Contri Table32$8,752Cost
Other Non Cash Contri Table2$4,000Cost
Other Non Cash Contri Table3$2,851Cost
Total Noncash Contributions40$30,278-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$15,134,026
Other Expenses$14,121,199
Salaries, Compensation, and Employee Benefits$13,477,235
Total Fundraising Expense$1,737,301
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$15,134,026--$15,134,026
Other Salaries and Wages$8,329,494$1,526,834$735,909$10,592,236
All Other Expenses$2,136,176$391,571$188,731$2,716,478
Fees for Services Other$1,755,204$321,737$155,072$2,232,012
Occupancy$1,314,042$240,870$116,095$1,671,007
Depreciation Depletion$1,502,331$144,108$13,427$1,659,866
Other Employee Benefits$810,645$148,595$71,620$1,030,860
Interest-$888,201-$888,201
Payroll Taxes$626,768$114,889$55,375$797,032
Current Officers, Directors, Trustees, and Key Employees$416,771$76,396$36,822$529,988
Pension Plan Contributions$414,514$75,982$36,622$527,119
Information Technology$408,697$74,916$36,108$519,721
Insurance$387,949$71,113$34,275$493,337
Office Expenses$348,738$63,925$30,811$443,474
Other Expenses$237,939$223,618$107,780$237,939
Travel$186,557$34,197$16,482$237,236
Fees for Services Legal$172,626$31,643$15,251$219,520
Fees for Services Accounting$98,212$18,003$8,677$124,892
Fees for Service Investment Mgmnt Fees$88,068$16,143$7,781$111,992
Advertising$75,008$13,749$6,627$95,384
Conferences and Meetings$28,078$5,147$2,481$35,706
Total Functional Expenses$36,386,225$4,608,933$1,737,301$42,732,459
International Activity

International Summary

Spending
$65,584,276

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaPassive Investments---$55,886,508
Europe (including Iceland and Greenland)Passive Investments---$5,499,118
East Asia and the PacificPassive Investments---$3,567,671
South AsiaPassive Investments---$231,378
Central America and the CaribbeanPassive Investments---$133,263
AsiaPassive Investments---$98,490
Middle East and North AfricaPassive Investments---$97,927
Sub-saharan AfricaPassive Investments---$69,921
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$17,841
Fundraising Gross Income$7,185
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$21,825$4,575$476$4,099
Virtual 5k$8,125$2,610$2,168$442
Total Events$29,950$7,185$17,841$-10,656
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
ADVANCES FROM FEDERAL GOV'T$3,658,724
Annuities Payable$800,102
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 35% controlled entity
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Family or business relationships larry sidwell and richard sidwell have a family relationship.

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

Process to review the form 990 the board of trustees receives a copy of the draft 990 through our secure electronic portal for their review. Board members have an opportunity to comment or ask questions prior to filing. The full board directed the college administration to make the appropriate and timely filings of the irs form 990.

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

Process for monitoring compliance with conflict of interest policy all board members and officers receive a conflict of interest policy and business relationship disclosure. Each member completes the form and sends it back to the president of the college. The president reports all conflicts to the chairman of the board. If any conflicts arise, the board of directors investigates the conflict of interest, and the person with the conflict abstains from voting on the related issue.

Form 990, Part VI, Section B, Line 15A

Review of ceo or top management official compensation ml strategies (washington dc) conducts a compensation study to determine the president's compensation range, and the board uses the study during contract negotiations. 2017 was the last time the study was performed on the president of the college.

Form 990, Part VI, Section B, Line 15B

Review of other officer or key employees compensation the organization uses cupa hr salary surveys (knoxville, tn) and academic search (washington dc) to help in the search and determining salary for key employees. December 2017 was the last time the organization used one of these firms. The organization's human resources department also completes an annual compensation study. The president then establishes the compensation based on the survey results and the annual compensation study.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest, and financial statements the organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Wilmington College
EIN
31-0537514
In Care Of
% BEATRIZ IBANEZ
Phone
9374812243
Address
1870 QUAKER WAY, WILMINGTON, OH 45177

Signing Officer

Name
Beatriz Ibanez
Title
VP Business/finance
Phone
9374812231
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Trevor Bates
Formed
1870
Legal Domicile
Oh
Voting Board Members
24
Independent Board Members
24
Employees
750
Volunteers
50

Preparer

Firm
Bkd Llp
Address
312 WALNUT STREET SUITE 3000, CINCINNATI, OH 45202
Preparer
Aaron Hershberger
Phone
5136218300
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other changes in net assets of fund balances change in value of split interest trust $210,642

Financial Statement Notes

Schedule D, Part III, Line 4

Description of collections the college's collections are made up of rare books, art objects and artifacts of historical significance that are held for educational and curatorial purposes. Most of the items are catalogued. All items are preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. The collection items are not recognized as assets in the statements of financial position and contributions of collection items are not recognized in the statements of activities. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired. Assets used to purchase collection items are reflected as temporarily or permanently restricted net assets if they are restricted for such purposes by the donors. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. The college requires that proceeds from the sale of collection items be used to acquire other collection items.

Schedule D, Part V, Line 4

Intended uses of the organization's endowment funds to provide scholarships for the organization's students to attend an institution for higher education and to support the educational programs of the organization.

Schedule D, Part X

Fin 48 disclosure management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

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IRS990/Desc0EDUCATIONAL INSTRUCTION AND RELATED ACTIVITIES WERE PROVIDED FOR LIBERAL ARTS STUDENTS. AUXILIARY ENTERPRISES INCLUDES RESIDENCE HALLS, DINING ROOM, BOOK STORE AND OTHER ACTIVITIES RELATING TO THE EDUCATIONAL PURPOSES OF THE INSTITUTION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt1VP BUSINESS/FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt2VP for Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt3VP OF ENROLLMENT MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIR OF OCCUPATIONAL THERAPY
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6VP Student Affairs/Dean
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director of Athletics
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$124$21.9$102$37.8$45.3$7.43
2023Detailed filing. Detailed filing data is available for this year.$125$22.9$102$37.9$44.2$6.32
2022Detailed filing. Detailed filing data is available for this year.$125$24.6$100$36.4$40.9$4.47
2021Detailed filing. Detailed filing data is available for this year.$138$28.7$109$72.5$42.7$29.8
2020Detailed filing. Detailed filing data is available for this year.$113$37.5$75.5$56.0$41.1$14.9
2019Detailed filing. Detailed filing data is available for this year.$98.2$36.3$61.9$39.9$40.2$0.24
2018Detailed filing. Detailed filing data is available for this year.$98.7$37.4$61.3$40.3$38.8$1.57
2017Detailed filing. Detailed filing data is available for this year.$96.7$36.7$60.0$37.9$37.9$0.03
2016Detailed filing. Detailed filing data is available for this year.$92.8$34.3$58.6$36.3$37.2$0.89
2015Detailed filing. Detailed filing data is available for this year.$89.7$29.1$60.6$46.0$42.4$3.64
2014Detailed filing. Detailed filing data is available for this year.$74.5$16.1$58.5$41.5$40.8$0.73
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.4$14.4$53.9$40.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.5$17.2$50.4$39.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.8$17.3$51.5$38.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.0$17.0$49.1$37.0