Civic Intelligence

Wabash College

990 • Fiscal year 2020 • EIN 35-0868202

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

P O Box 352Crawfordsville, IN 47933

(765) 361-6011

Siviq Scores

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

Liabilities / Assets

26th percentile

0.13x

Higher debt load relative to assets than 26% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

63rd percentile

0.76x

Higher debt load relative to revenue than 63% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

68th percentile

9.6%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

30th percentile

$530,778

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

35th percentile

2.0%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

76th percentile

9.8%

Faster revenue growth than 76% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Assets

Up

$537,122,152

Up $10,661,285 (+2.0%) from 2019

Net Assets

Up

$468,481,396

Up $2,629,126 (+0.6%) from 2019

Liabilities

Up

$68,640,756

Up $8,032,159 (+13%) from 2019

Revenue

Up

$89,745,763

Up $7,989,761 (+9.8%) from 2019

Expenses

Down

$81,138,735

Down $1,671,847 (-2.0%) from 2019

Net Income

Up

$8,607,028

Up $9,661,608 (+916%) from 2019

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

2020

Assets$537,122,152
Liabilities$68,640,756
Net Assets$468,481,396

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

2020

Revenue$89,745,763
Expenses$81,138,735
Net Income$8,607,028
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.1
Gross Receipts
$239,644,651
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 Other Securities$264,375,496$261,761,610▼ $2,613,886
Land, Buildings, and Equipment, Net$119,820,854$124,826,930▲ $5,006,076
Investments in Publicly Traded Securities$57,722,744$71,775,102▲ $14,052,358
Pledges and Grants Receivable$18,040,405$25,862,089▲ $7,821,684
Savings and Temporary Cash Investments$24,712,446$13,145,914▼ $11,566,532
Investments Program Related$5,432,639$4,594,911▼ $837,728
Prepaid Expenses and Deferred Charges$543,096$649,297▲ $106,201
Accounts Receivable$489,132$564,417▲ $75,285
Cash and Non-Interest-Bearing Accounts$4,081$5,291▲ $1,210
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$526,460,867$537,122,152▲ $10,661,285
Other Assets Total$35,319,974$33,936,591▼ $1,383,383
Liabilities
Tax Exempt Bond Liabilities$41,892,400$39,060,800▼ $2,831,600
Other Liabilities$15,826,745$15,038,217▼ $788,528
Mortgage Notes Payable Secured by Investment Property$1,051,429$10,000,000▲ $8,948,571
Accounts Payable and Accrued Expenses$1,838,023$4,541,739▲ $2,703,716
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$60,608,597$68,640,756▲ $8,032,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$243,449,324$237,759,002▼ $5,690,322
Net Assets With Donor Restrictions$222,402,946$230,722,394▲ $8,319,448
Total Net Assets Fund Balance$465,852,270$468,481,396▲ $2,629,126
Total Liabilities and Net Assets / Fund Balance$526,460,867$537,122,152▲ $10,661,285

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$101,139,027$71,059,104$172,198,131
Equipment$3,477,642$20,482,350$23,959,992
Land$11,778,872-$11,778,872
Other Land Buildings$8,431,389-$8,431,389
Other Assets Org$23,307,494--
Other Securities$261,761,610--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$335,639,720$8,249,288▲ $2,343,994$13,752,548$327,543,389
2018$341,122,051$8,788,144▲ $5,740,391$14,664,834$335,639,720
2017$331,748,928$3,718,112▲ $26,771,741$15,281,747$341,122,051
2016$319,964,719$3,529,351▲ $30,124,157$16,786,017$331,748,928
2015$346,844,625$5,611,669▼ $10,230,045$17,159,522$319,964,719
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gregory Hess End 0630President and TrusteeFT$409,560$121,218$530,778
Steven JonesDean of Prof. DevelopmentFT$221,636$31,951$253,587
Scott FellerDean of CollegeFT$211,416$36,523$247,939
Michelle JanssenDean for AdvancementFT$190,899$49,154$240,053
Kendra CooksCFO and TreasurerFT$192,425$45,064$237,489
James Amidon JrSecretary/chief of StaffFT$154,927$30,510$185,437
Derek NelsonProfessor of ReligionFT$158,166$23,747$181,913
Charles BlaichDirector of Heds and CilaFT$147,720$25,456$173,176
Nadine PenceDirector of Wabash CenterFT$143,504$22,142$165,646
Charles M TimmonsDean of Enrollment ManagementFT$136,656$27,507$164,163
Douglas C SmithControllerFT$121,277$21,845$143,122

Highest Paid Contractors

ContractorServicesLocationCompensation
F A Wilhelm Constructions Co InConstruction3914 PROSPECT STREET, Indianapolis, IN 46206$5,248,992
Sodexo And AffiliatesCampus Services4880 PAYSPHERE CIRCLE, Chicago, IL 60674$3,371,113
Compass Group USA INCFood Service301 W WABASH AVE, Crawfordsville, IN 47933$1,872,486
Strategic Investment Group LLCInvestment Services1001 NINETEENTH STREET N 16TH FL, Arlington, VA 22209$939,935
Dlr Group INCArchitecture7290 W 133RD STREET, Overland Park, KS 66213$788,502
Revenue and Support

Revenue Composition

Contributions and Grants
$33,720,126
Program Service Revenue
$46,402,448
Investment Income
$9,559,079
Other Revenue
$64,110
All Other Contributions
$33,681,568
Change in Net Assets
$8,607,028

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
Securities Publicly Traded40$4,396,836Market Value
Total Noncash Contributions40$4,396,836-

Audited Revenue Reconciliation

Revenue per Audited Statements
$63,734,861
Revenue Not Reported on Financial Statements
$26,010,902
Revenue Not Reported on Form 990
$-6,047,406
Other Revenue Adjustments
$25,092,987
Total Revenue per Audited Statements
$57,687,455
Total Revenue per Form 990
$89,745,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$27,916,417
Other Expenses$27,092,023
Grants and Similar Amounts Paid$25,830,592
Total Fundraising Expense$2,663,922
Professional Fundraising Fees$299,703

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$25,555,144--$25,555,144
Other Salaries and Wages$17,128,856$2,440,431$908,590$20,477,877
Occupancy$5,321,654$339,916$26,864$5,688,434
Depreciation Depletion$5,074,946$129,846$1,651$5,206,443
Fees for Services Other$2,464,407$756,224$204,582$3,425,213
Other Employee Benefits$2,440,839$433,056$342,514$3,216,409
Travel$1,524,168$68,235$111,809$1,704,212
Current Officers, Directors, Trustees, and Key Employees$1,401,974$267,535$25,774$1,695,283
Interest$1,351,586$50,570-$1,402,156
Payroll Taxes$1,131,177$112,527$154,612$1,398,316
Office Expenses$1,299,630$45,706$25,227$1,370,563
Pension Plan Contributions$920,602$-5,906$187,626$1,102,322
Fees for Service Investment Mgmnt Fees-$917,915-$917,915
All Other Expenses$703,943$11,089$4,909$719,941
Insurance$248,632$311,513-$560,145
Advertising$242,321$57,926$217,304$517,551
Fees for Services Legal$15,318$352,023$2,827$370,168
Fees for Services Professional Fundraising--$299,703$299,703
Other Expenses$80,003$199,133$5,414$284,550
Grants to Domestic Orgs$275,448--$275,448
Fees for Services Accounting-$157,835-$157,835
Information Technology$124,080$22,176-$146,256
Conferences and Meetings$126,042--$126,042
Fees for Services Management$66,053$350-$66,403
Comp Disqual Persons$26,210--$26,210
Total Functional Expenses$71,740,665$6,734,148$2,663,922$81,138,735

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$81,138,735
Total Expenses per Audited Statements$55,409,095
Expenses per Audited Statements$55,127,833
Expenses Not Reported on Financial Statements$26,010,902
Other Expense Adjustments$25,092,987
Expenses Not Reported on Form 990$281,262
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Eden Theological SeminarySt Louis, MO501(c)(3)Educational Assistance$34,986
Bethany CollegeLindsborg, KS501(c)(3)Educational Assistance$30,000
Depaul UniversityChicago, IL501(c)(3)Educational Assistance$30,000
Dominican University of CaliforniaSan Rafael, CA501(c)(3)Educational Assistance$30,000
Grand Valley State UniversityAllendale, MI501(c)(3)Educational Assistance$30,000
Lexington Theological SeminaryLexington, KY501(c)(3)Educational Assistance$30,000
Mccormick Theological SeminaryChicago, IL501(c)(3)Educational Assistance$30,000
North Park UniversityChicago, IL501(c)(3)Educational Assistance$30,000
Gordon-conwell Theological SeminarySouth Hamilton, MA501(c)(3)Educational Assistance$22,440
Garrett Evangelical Theo SemEvanston, IL501(c)(3)Educational Assistance$8,022

International Summary

Offices
0
Employees
0
Spending
$10,582,974

International Compliance

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
North AmericaInvestments-00$6,289,806
Central America and the CaribbeanInvestments-00$4,041,774
Europe (Including Iceland and Greenland)Investments-00$251,394
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$299,703
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Lora HessSpouse of PresidentCompensated EmployeeNo$26,210

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.$8,761,921
Annuities and Trusts Payable$5,943,775
Swap Termination$332,521

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2019-08-30$41,632,000Refinance 2001, 2003, & 2013 bonds
BIndiana Finance Authority2015-11-05$15,000,000STUDENT HOUSING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$41,632,000$0$14,571,200$84,019
B$15,000,000$0$3,000,000$118,000

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
Business relationship with 35% controlled entity
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 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 july 2020.

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.

Filing and Contact Details

Filer

Filer Name
Wabash College
EIN
35-0868202
In Care Of
% KENDRA A COOKS
Phone
7653616011
Address
P O BOX 352, CRAWFORDSVILLE, IN 47933

Signing Officer

Name
Kendra Cooks
Title
CFO, Treasurer
Phone
7653616421
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Feller
Formed
1832
Legal Domicile
In
Voting Board Members
38
Independent Board Members
37
Employees
1,033
Volunteers
37

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: $ 687,151 amortization of net loss - net periodic pension costs 808,205 defined-benefit postretirement health plan (1,144,590) prior service credit recognized in current year ------------ $ 350,766 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

Furtherance 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: $ 281,262 cost of goods sold

Schedule D, Parts XI, Line 4B

Other reconciling items: $ 25,092,987 grants and scholarships

Schedule D, Part XII, Line 2D

Other reconciling items: $ 281,262 cost of goods sold

Schedule D, Part XII, Line 4B

Other reconciling items: $ 25,092,987 grants and scholarships

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IRS990/Desc0INSTRUCTION - THE 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. 868 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
2020Detailed filing. Detailed filing data is available for this year.$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