Civic Intelligence

Wabash College

990 • Fiscal year 2015 • EIN 35-0868202

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

P O Box 352Crawfordsville, IN 47933

(765) 361-6421

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.12x

Higher debt load relative to assets than 22% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

72nd percentile

0.88x

Higher debt load relative to revenue than 72% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Net Margin

39th percentile

4.0%

Higher net margin than 39% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

31st percentile

$543,794

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Asset Growth

28th percentile

-1.2%

Faster asset growth than 28% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

19th percentile

-5.0%

Faster revenue growth than 19% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Down

$520,401,226

Down $6,448,974 (-1.2%) from 2014

Net Assets

Up

$457,117,850

Up $7,957,234 (+1.8%) from 2014

Liabilities

Down

$63,283,376

Down $14,406,208 (-19%) from 2014

Revenue

Down

$71,554,840

Down $3,796,167 (-5.0%) from 2014

Expenses

Up

$68,674,480

Up $2,909,560 (+4.4%) from 2014

Net Income

Down

$2,880,360

Down $6,705,727 (-70%) from 2014

Historical Trend

Balance Sheet Trend

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

$800M$600M$400M$200M$0Assets 2010: $434,726,805Liabilities 2010: $72,361,906Net Assets 2010: $362,364,8992010Assets 2012: $479,681,725Liabilities 2012: $83,859,825Net Assets 2012: $395,821,9002012Assets 2013: $491,249,849Liabilities 2013: $78,978,667Net Assets 2013: $412,271,1822013Assets 2014: $526,850,200Liabilities 2014: $77,689,584Net Assets 2014: $449,160,6162014Assets 2015: $520,401,226Liabilities 2015: $63,283,376Net Assets 2015: $457,117,8502015Assets 2016: $514,658,871Liabilities 2016: $76,868,217Net Assets 2016: $437,790,6542016Assets 2018: $539,185,373Liabilities 2018: $67,081,949Net Assets 2018: $472,103,4242018Assets 2019: $526,460,867Liabilities 2019: $60,608,597Net Assets 2019: $465,852,2702019Assets 2020: $537,122,152Liabilities 2020: $68,640,756Net Assets 2020: $468,481,3962020Assets 2021: $622,033,627Liabilities 2021: $64,202,057Net Assets 2021: $557,831,5702021Assets 2022: $586,840,055Liabilities 2022: $50,642,782Net Assets 2022: $536,197,2732022Assets 2024: $633,150,192Liabilities 2024: $44,806,763Net Assets 2024: $588,343,4292024

Highlighted filing

2015

Assets$520,401,226
Liabilities$63,283,376
Net Assets$457,117,850

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $61,917,2682010Expenses 2012: $64,190,1192012Expenses 2013: $64,090,2272013Revenue 2014: $75,351,007Expenses 2014: $65,764,920Net Income 2014: $9,586,0872014Revenue 2015: $71,554,840Expenses 2015: $68,674,480Net Income 2015: $2,880,3602015Revenue 2016: $58,328,157Expenses 2016: $70,397,846Net Income 2016: -$12,069,6892016Revenue 2018: $78,826,853Expenses 2018: $75,687,773Net Income 2018: $3,139,0802018Revenue 2019: $81,756,002Expenses 2019: $82,810,582Net Income 2019: -$1,054,5802019Revenue 2020: $89,745,763Expenses 2020: $81,138,735Net Income 2020: $8,607,0282020Revenue 2021: $85,394,352Expenses 2021: $82,737,904Net Income 2021: $2,656,4482021Revenue 2022: $93,874,702Expenses 2022: $87,190,679Net Income 2022: $6,684,0232022Revenue 2024: $111,002,080Expenses 2024: $93,486,161Net Income 2024: $17,515,9192024

Highlighted filing

2015

Revenue$71,554,840
Expenses$68,674,480
Net Income$2,880,360
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$152,863,745
Mission and Program Overview

Mission

Wabash college is a liberal arts college for men that educates them to think critically, act responsibly, lead effectively, and live humanely.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$191,711,761$194,412,702▲ $2,700,941
Investments Other Securities$158,458,716$150,250,387▼ $8,208,329
Land, Buildings, and Equipment, Net$107,706,450$111,361,590▲ $3,655,140
Savings and Temporary Cash Investments$19,125,071$18,133,573▼ $991,498
Pledges and Grants Receivable$16,378,451$12,157,283▼ $4,221,168
Investments Program Related$7,028,699$7,151,135▲ $122,436
Accounts Receivable$469,888$766,891▲ $297,003
Prepaid Expenses and Deferred Charges$355,182$317,816▼ $37,366
Cash and Non-Interest-Bearing Accounts$4,764$4,574▼ $190
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$526,850,200$520,401,226▼ $6,448,974
Other Assets Total$25,611,218$25,845,275▲ $234,057
Liabilities
Tax Exempt Bond Liabilities$39,550,400$37,468,800▼ $2,081,600
Other Liabilities$30,002,510$16,650,705▼ $13,351,805
Accounts Payable and Accrued Expenses$4,318,674$5,345,871▲ $1,027,197
Mortgage Notes Payable Secured by Investment Property$3,818,000$3,818,000→ $0
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$77,689,584$63,283,376▼ $14,406,208
Net Assets / Fund Balance
Unrestricted Net Assets$229,864,676$233,216,379▲ $3,351,703
Permanently Rstr Net Assets$121,553,536$122,746,547▲ $1,193,011
Temporarily Rstr Net Assets$97,742,404$101,154,924▲ $3,412,520
Total Net Assets Fund Balance$449,160,616$457,117,850▲ $7,957,234
Total Liabilities and Net Assets / Fund Balance$526,850,200$520,401,226▼ $6,448,974

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$92,454,357$51,323,953$143,778,310
Equipment$3,486,581$15,145,683$18,632,264
Land$9,992,166-$9,992,166
Other Land Buildings$5,428,486-$5,428,486
Other Securities$150,250,387--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$362,448,629$1,439,500▲ $4,823,807$17,428,197$346,844,625
2013$339,789,723$3,038,561▲ $40,816,593$16,979,239$362,448,629
2012$317,968,783$6,774,550▲ $35,218,016$16,486,548$339,789,723
2011$331,924,878$5,542,318▲ $269,907$16,075,669$317,968,783
2010$287,383,239$4,027,977▲ $57,542,864$13,466,711$331,924,878
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gregory HessPresident & TrusteeFT$437,589$106,205$543,794
Patrick WhiteFormer President-$273,176$309,136$309,136
Charles BlaichDirector of Cila & HedsFT$139,866$75,997$215,863
Larry GriffithTreasurer and CFOFT$176,486$27,608$204,094
Gary PhillipsDean of College (jan-jun)FT$174,258$27,386$201,644
Steven KleinDean of AdmissionsFT$152,019$25,162$177,181
Michael RatersDean of StudentsFT$117,636$57,697$175,333
Scott FellerDean of College (jul-dec)FT$146,412$24,421$170,833
James AmidonSecretary of CollegeFT$123,734$22,333$146,067
Dwight WatsonProfessor of Theater (aug-dec)FT$116,533$21,613$138,146
Nadine PenceAssoc. Faculty-religion Dept.FT$115,752$18,295$134,047
Stephen MorilloHistory Dept. ChairFT$109,810$23,041$132,851
Richard DallingerProfessor of ChemistryFT$107,996$20,757$128,753
Fred RuebeckChief Investment OfficerPT$50,000-$50,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo AffiliatesCampus Services4880 PAYSPHERE CIRCLE, Chicago, IL 60674$3,237,938
Hagerman INCConstructionPO BOX 11848-1848, Fort Wayne, IN 46861$2,837,581
Bon Appetit Dining ServicesFood ServicePOBOX 352, Crawfordsville, IN 47933$1,684,973
Shepley Bulfinch Richardson AbbotConstruction2 SEAPORT LANE, Boston, MA 02210$875,335
State Street BankFinancial ServicesSTATE STREET BANK BLDG, Boston, MA 02110$679,517
Revenue and Support

Revenue Composition

Contributions and Grants
$20,255,245
Program Service Revenue
$38,712,853
Investment Income
$12,430,978
Other Revenue
$155,764
All Other Contributions
$20,222,055
Change in Net Assets
$2,880,360

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded32$4,673,951Market Value
Total Noncash Contributions32$4,673,951-

Audited Revenue Reconciliation

Revenue per Audited Statements
$52,503,545
Revenue Not Reported on Financial Statements
$19,051,295
Revenue Not Reported on Form 990
$-8,673,268
Other Revenue Adjustments
$18,210,997
Total Revenue per Audited Statements
$43,830,277
Total Revenue per Form 990
$71,554,840
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,653,494
Other Expenses$23,324,916
Grants and Similar Amounts Paid$18,691,770
Total Fundraising Expense$1,799,864
Professional Fundraising Fees$4,300

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$18,033,742--$18,033,742
Other Salaries and Wages$14,143,917$2,359,410$226,869$16,730,196
Occupancy$5,014,367$667,451$51,502$5,733,320
Depreciation Depletion$4,122,927$139,731$9,610$4,272,268
Pension Plan Contributions$3,228,048$117,733$305,022$3,650,803
Other Employee Benefits$2,185,092$926,763$243,568$3,355,423
Fees for Services Other$2,227,562$229,218$126,598$2,583,378
Travel$1,908,968$111,379$141,042$2,161,389
Current Officers, Directors, Trustees, and Key Employees$1,380,343$263,407$25,376$1,669,126
Office Expenses$1,314,334$22,242$54,333$1,390,909
Payroll Taxes$1,032,037$93,564$122,345$1,247,946
Fees for Service Investment Mgmnt Fees-$840,298-$840,298
All Other Expenses$579,626$237,610$4,495$821,731
Advertising$360,581$97,184$332,806$790,571
Grants to Domestic Orgs$638,028--$638,028
Insurance$192,851$384,125-$576,976
Other Expenses$520,410$1,846$1,806$520,410
Conferences and Meetings$273,933$2,925$806$277,664
Fees for Services Accounting-$169,691-$169,691
Fees for Services Legal-$141,379$2,608$143,987
Interest$66,667$46,637-$113,304
Information Technology$95,154$468$770$96,392
Foreign Grants$20,000--$20,000
Fees for Services Professional Fundraising--$4,300$4,300
Total Functional Expenses$59,905,285$6,969,331$1,799,864$68,674,480

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$68,674,480
Total Expenses per Audited Statements$50,208,856
Expenses per Audited Statements$49,623,185
Expenses Not Reported on Financial Statements$19,051,295
Other Expense Adjustments$18,210,997
Expenses Not Reported on Form 990$585,671
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Rector & Visitors of the Univ of VaCharlottesville, VA501(c)(3)Program Support$39,734
Appalachian State UniversityBoone, NC501(c)(3)Program Support$20,000
Drew UniversityMadison, NJ501(c)(3)Program Support$20,000
Duquesne UniversityPittsburgh, PA501(c)(3)Program Support$20,000
San Francisco Theological SeminarySan Anselmo, CA501(c)(3)Program Support$20,000
The Catholic University of AmericaWashington, DC501(c)(3)Program Support$20,000
The Seattle School of Theology & PsychologySeattle, WA501(c)(3)Program Support$20,000
Austin Presbyterian Theological SeminaryAustin, TX501(c)(3)Program Support$19,301

International Summary

Spending
$74,806,804

International Compliance

Foreign grant records maintained
Yes
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
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$68,410,700
North AmericaInvestments---$6,376,104
North AmericaGrantmaking---$20,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$4,300
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
Post-retirement Benefit Oblig.$9,898,007
Annuities and Trusts Payable$4,732,134
Swap Termination$2,020,564

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2013-04-29$41,632,000Refinance 2001 & 2003 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$41,632,000$0$0$84,019

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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

Business relationships: d. Broecker and t. Grossnickle have a business relationship.

Form 990, Part VI, Section A, Line 6 & 7A

Classes of member or stockholders: alumni of wabash college are considered members. An alumnus is any person who attended wabash for at least two semesters. Every even-numbered year, alumni elect two trustees to the board. Every odd-numbered year, alumni elect one trustee to the board.

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

Process to review the form 990: the audit committee chairman, the controller, and the treasurer/cfo do a detailed review of the 990. The audit committee is given a chance to review the return before it is given to the full board. An electronic copy of the form is available to the entire board prior to filing. An independent accounting firm performs a detailed review of the 990 prior to filing.

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

Process for monitoring compliance with conflict of interest policy: conflict of interest questionnaires are sent to all board members. The controller reviews the completed forms. There have been few conflicts on the board, but when one does occur, the board member recuses himself from voting. The conflict of interest and the recusal are noted in the minutes of the board meeting.

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

Review of ceo or top mgmt official compensation: the president's compensation is reviewed and determined annually by a compensation committee consisting of the chairman of the board of trustees and the chairman of the executive committee. The committee considers data from other schools, among other things, in making its review. The president reviews and determines the compensation of the deans and the other members of the president's staff on an annual basis, with the advice and consent of the compensation committee. All compensation decisions are noted in the college's books and records. Officer compensation was last reviewed in january 2015.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of int. Policy, and financial statements: wabash college's governing documents, conflict of interest policy, and financial statements are available to the public upon request. The financial statements are also available on wabash's website.

Form 990, Part VII, Section A

Compensation of officers: fred ruebeck is paid a service fee in the amount of $50,000 and does not receive any employee benefits or deferred compensation.

Filing and Contact Details

Filer

Filer Name
Wabash College
EIN
35-0868202
In Care Of
% LARRY GRIFFITH
Phone
7653616421
Address
P O BOX 352, CRAWFORDSVILLE, IN 47933

Signing Officer

Name
Larry Griffith
Title
Treasurer
Phone
7653616421
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Hess
Formed
1832
Legal Domicile
In
Voting Board Members
35
Independent Board Members
33
Employees
1,259
Volunteers
34

Preparer

Firm
Bkd Llp
Address
201 N Illinois Street, Indianapolis, IN 46204
Preparer
Nicole B Fishback
Phone
3173834000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other changes in net assets or fund balances: $ 13,735,074 prior service cost - plan amendment 1,159,357 amortization of net loss - net periodic pension costs (555,596) defined-benefit postretirement health plan (3,022) provision for early retirement incentive ------------- $ 14,335,813 total change in net assets

Financial Statement Notes

Schedule D, Part III, Line 1A

Footnotes to financial statements: the college's collections, which were acquired through purchases and contributions since the college's inception, are not recognized as assets in the statements of financial position. Purchases of collection items are reported in the year of acquisition as decreases in unrestricted net assets, or in temporarily or permanently restricted net assets if the assets used to purchase the items were restricted to that use by donor stipulation. Contributions of collection items are not reported in the financial statements. Proceeds from deaccessions or insurance recoveries related to collection items are reported as increases in the appropriate net asset classes. The college's collections consist primarily of books, artwork and scientific artifacts. Each of the items is cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. The collections are subject to a policy that requires proceeds from the disposition of collection items to be used to acquire other collection items.

Schedule D, Part III, Line 4

Futherance of exempt purpose: education wabash college employs the art collection in connection with the instruction of art and art history courses.

Schedule D, Part V, Line 4

Intended uses of endowment funds: endowed funds support the college's mission by providing scholarships for students, funds for special projects, and general operating funds for the college.

Schedule D, Part X, Line 2

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.

Schedule D, Parts XI, Line 2D

Other reconciling items: $ 585,671 cost of goods sold

Schedule D, Parts XI, Line 4B

Other reconciling items: $ 18,033,742 grants and scholarships 177,255 allocated health center expenses ------------ $ 18,210,997 total

Schedule D, Part XII, Line 2D

Other reconciling items: $ 585,671 cost of goods sold

Schedule D, Part XII, Line 4B

Other reconciling items: $ 18,033,742 grants and scholarships 177,255 allocated health center expenses ------------ $ 18,210,997 total

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IRS990/Desc0INSTRUCTION - INSTITUTIONS'S ACADEMIC INSTRUCTION PROGRAM. STUDENT SERVICES AND ATHLETICS - ACTIVITIES WHOSE PRIMARY GOAL IS TO CONTRIBUTE TO THE STUDENT'S EMOTIONAL AND PHYSICAL WELL-BEING AS WELL AS INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE OF CLASS. ACADEMIC SUPPORT AND LIBRARY - SUPPORT SERVICES FOR INSTRUCTION, RESEARCH, AND PUBLIC SERVICE. INCLUDES LIBRARY AND COMPUTER SERVICES. 928 STUDENTS SERVED.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$633$44.8$588$111$93.5$17.5
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$587$50.6$536$93.9$87.2$6.68
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$622$64.2$558$85.4$82.7$2.66
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$537$68.6$468$89.7$81.1$8.61
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$526$60.6$466$81.8$82.8$1.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$539$67.1$472$78.8$75.7$3.14
2016Detailed filing. Detailed filing data is available for this year.$515$76.9$438$58.3$70.4$12.1
2015Detailed filing. Detailed filing data is available for this year.$520$63.3$457$71.6$68.7$2.88
2014Detailed filing. Detailed filing data is available for this year.$527$77.7$449$75.4$65.8$9.59
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$491$79.0$412$64.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$480$83.9$396$64.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$435$72.4$362$61.9