Civic Intelligence

Wabash College

990 • Fiscal year 2024 • EIN 35-0868202

Jul 01, 2023 to Jun 30, 2024 • Filed on May 15, 2025

PO 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

21st percentile

0.07x

Higher debt load relative to assets than 21% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.40x

Higher debt load relative to revenue than 44% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

76th percentile

16%

Higher net margin than 76% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

35th percentile

$591,256

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

64th percentile

9.2%

Faster asset growth than 64% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

88th percentile

45%

Faster revenue growth than 88% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$633,150,192

Up $46,310,137 (+7.9%) from 2022

Net Assets

Up

$588,343,429

Up $52,146,156 (+9.7%) from 2022

Liabilities

Down

$44,806,763

Down $5,836,019 (-12%) from 2022

Revenue

Up

$111,002,080

Up $17,127,378 (+18%) from 2022

Expenses

Up

$93,486,161

Up $6,295,482 (+7.2%) from 2022

Net Income

Up

$17,515,919

Up $10,831,896 (+162%) from 2022

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

2024

Assets$633,150,192
Liabilities$44,806,763
Net Assets$588,343,429

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

2024

Revenue$111,002,080
Expenses$93,486,161
Net Income$17,515,919
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$384,275,526
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$335,189,261$363,885,795▲ $28,696,534
Land, Buildings, and Equipment, Net$125,700,955$126,419,712▲ $718,757
Savings and Temporary Cash Investments$36,694,314$50,088,348▲ $13,394,034
Investments in Publicly Traded Securities$25,002,685$37,798,270▲ $12,795,585
Pledges and Grants Receivable$17,303,196$13,779,814▼ $3,523,382
Prepaid Expenses and Deferred Charges$495,142$1,171,596▲ $676,454
Investments Program Related$2,954,410$1,040,505▼ $1,913,905
Accounts Receivable$605,404$837,783▲ $232,379
Cash and Non-Interest-Bearing Accounts$4,855$5,907▲ $1,052
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$579,551,315$633,150,192▲ $53,598,877
Other Assets Total$35,601,093$38,122,462▲ $2,521,369
Liabilities
Tax Exempt Bond Liabilities$35,566,000$32,349,785▼ $3,216,215
Other Liabilities$9,812,844$9,844,890▲ $32,046
Accounts Payable and Accrued Expenses$715,456$2,612,088▲ $1,896,632
Total Liabilities$46,094,300$44,806,763▼ $1,287,537
Net Assets / Fund Balance
Net Assets With Donor Restrictions$282,308,260$331,181,100▲ $48,872,840
Net Assets Without Donor Restrictions$251,148,755$257,162,329▲ $6,013,574
Total Net Assets Fund Balance$533,457,015$588,343,429▲ $54,886,414
Total Liabilities and Net Assets / Fund Balance$579,551,315$633,150,192▲ $53,598,877

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$104,952,338$88,946,192$193,898,530
Equipment$1,712,869$22,987,784$24,700,653
Land$13,535,226-$13,535,226
Other Land Buildings$6,219,279-$6,219,279
Other Assets Org$185,530--
Other Securities$363,885,795--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$381,502,056$12,329,889▲ $41,096,851$14,946,317$413,960,341
2022$376,541,330$7,533,656▲ $17,813,607$14,559,266$381,502,056
2021$409,721,338$5,190,657▼ $19,065,560$13,692,403$376,541,330
2020$327,543,389$4,769,753▲ $96,621,526$13,802,744$409,721,338
2019$335,639,720$8,249,288▲ $2,343,994$13,752,548$327,543,389
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott E FellerPresidentFT$489,213$102,043$591,256
Steven L JonesDean for Prof. DevelopmentFT$239,319$33,683$273,002
Michelle L JanssenDean for AdvancementFT$207,400$48,634$256,034
Kendra a CooksCFO/treasurerFT$209,050$30,823$239,873
Todd F McdormanDean of the CollegeFT$181,043$33,860$214,903
Lynne N WestfieldDirector of Wabash CenterFT$153,510$49,265$202,775
James L Amidon JrSecretary/chief of StaffFT$166,580$27,478$194,058
Charles F BlaichDirector of Inquiries-cilaFT$151,059$27,169$178,228

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo And AffiliatesCampus Services4880 PAYSPHERE CIRCLE, STE 400, Chicago, IL 60674$3,459,407
Compass Group USA INCFood Service301 W WABASH AVE, FL 17, Crawfordsville, IN 47933$2,908,028
Shepley Bulfinch Richardson & Abbott INCArchitecture2 SEAPORT LANE, Boston, MA 02210$1,713,131
Campus Cooks LLCFood Service1400 S WOLF RD, Wheeling, IL 60090$1,309,100
Strategic Investment Group LLCOutsourced Chief Investment Officer1001 19TH ST N, Arlington, VA 22209$1,110,056
Revenue and Support

Revenue Composition

Contributions and Grants
$48,247,581
Program Service Revenue
$53,105,285
Investment Income
$9,338,121
Other Revenue
$311,093
All Other Contributions
$47,835,207
Change in Net Assets
$17,515,919

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 Traded41$6,327,002Market value
Total Noncash Contributions41$6,327,002-

Audited Revenue Reconciliation

Revenue per Audited Statements
$81,047,648
Revenue Not Reported on Financial Statements
$29,954,432
Revenue Not Reported on Form 990
$39,230,586
Other Revenue Adjustments
$28,968,745
Total Revenue per Audited Statements
$120,278,234
Total Revenue per Form 990
$111,002,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$32,832,864
Grants and Similar Amounts Paid$30,710,807
Salaries, Compensation, and Employee Benefits$29,814,890
Total Fundraising Expense$1,715,906
Professional Fundraising Fees$127,600

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$29,497,803--$29,497,803
Other Salaries and Wages$19,296,952$3,594,173$487,076$23,378,201
Occupancy$8,202,866$368,373$47,359$8,618,598
Depreciation Depletion$5,180,862$76,572$334$5,257,768
Fees for Services Other$3,047,769$567,665$76,929$3,692,363
Travel$2,429,502$72,119$85,126$2,586,747
Pension Plan Contributions$1,981,170$369,005$50,007$2,400,182
Payroll Taxes$1,368,308$254,855$34,538$1,657,701
Other Employee Benefits$1,117,311$208,106$28,202$1,353,619
Grants to Domestic Orgs$1,183,024--$1,183,024
Current Officers, Directors, Trustees, and Key Employees$846,215$157,613$21,359$1,025,187
Office Expenses$979,219$31,364$13,315$1,023,898
Fees for Service Investment Mgmnt Fees-$985,687-$985,687
Insurance$108,065$813,984-$922,049
Interest$837,003$32,417-$869,420
Information Technology$721,903$15,506$49,871$787,280
Advertising$302,535-$366,024$668,559
Other Expenses$95,973$240,430$3,959$340,362
Fees for Services Legal$1,430$283,527$3,925$288,882
Fees for Services Accounting-$203,314-$203,314
Fees for Services Professional Fundraising--$127,600$127,600
Fees for Services Management$34,245--$34,245
Foreign Grants$29,980--$29,980
Conferences and Meetings$9,813$6,205-$16,018
Total Functional Expenses$83,382,744$8,387,511$1,715,906$93,486,161

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$93,486,161
Total Expenses per Audited Statements$63,698,873
Expenses per Audited Statements$63,531,729
Expenses Not Reported on Financial Statements$29,954,432
Other Expense Adjustments$28,968,745
Expenses Not Reported on Form 990$167,144
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Garrett EvangelicalEvanston, IL501(c)(3)Educational Assistance$134,908
United Lutheran SeminaryGettysburg, PA501(c)(3)Educational Assistance$112,000
Columbia Theological SeminaryDecatur, GA501(c)(3)Educational Assistance$75,000
Howard UniversityWashington, DC501(c)(3)Educational Assistance$60,000
Drew UniversityMadison, NJ501(c)(3)Educational Assistance$50,770
Samuel Dewitt Proctor Conference IncChicago, IL501(c)(3)Educational Assistance$50,000
The Iliff School of TheologyDenver, CO501(c)(3)Educational Assistance$40,000
Emory UniversityAtlanta, GA501(c)(3)Educational Assistance$35,000
Colgate Rochester Crozer Divinity SchoolRochester, NY501(c)(3)Educational Assistance$30,000
Meadville Lombard Theological SchooChicago, IL501(c)(3)Educational Assistance$30,000
Pittsburgh TheologicalPittsburgh, PA501(c)(3)Educational Assistance$30,000
Princeton Theological SeminaryPrinceton, NJ501(c)(3)Educational Assistance$30,000
Virginia Union UniversityRichmond, VA501(c)(3)Educational Assistance$30,000
Whitworth UniversitySpokane, WA501(c)(3)Educational Assistance$30,000
Denver SeminaryLittleton, CO501(c)(3)Educational Assistance$29,585
Agnes Scott CollegeDecatur, GA501(c)(3)Educational Assistance$29,166
Baylor UniversityWaco, TX501(c)(3)Educational Assistance$28,273
Colorado State UniversityFt Collins, CO501(c)(3)Educational Assistance$21,511
Claremont School of TheologyClaremont, CA501(c)(3)Educational Assistance$20,000
Fordham UniversityBronx, NY501(c)(3)Educational Assistance$18,500
Phi Kappa Psi FraternityGreencastle, IN501(c)(3)Educational Assistance$18,252
St Louis Community CollegeBridgeton, MO501(c)(3)Educational Assistance$17,324
Baptist Seminary of KentuckyLexington, KY501(c)(3)Educational Assistance$15,000
Union Theological Seminary in the City of NyNew York, NY501(c)(3)Educational Assistance$15,000
Saint Paul School of TheologyOverland Park, KS501(c)(3)Educational Assistance$13,500
Austin Presbyterian Theological SeminaryAustin, TX501(c)(3)Educational Assistance$12,283
Anderson UniversityAnderson, IN501(c)(3)Educational Assistance$10,000
Fuller Theological SeminaryPasadena, CA501(c)(3)Educational Assistance$10,000
The Seattle School of Theology and PsychologySeattle, WA501(c)(3)Educational Assistance$10,000
University of DelawareNewark, DE501(c)(3)Educational Assistance$10,000
College of Saint MaryOmaha, NE501(c)(3)Educational Assistance$9,910
Gustavus Adolphus CollegeSt Peter, MN501(c)(3)Educational Assistance$7,229
Washington University-st LouisSaint Louis, MO501(c)(3)Educational Assistance$5,250

International Summary

Offices
0
Employees
0
Spending
$15,429,542

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
North America (Canada & Mexico only)Investments-00$7,479,404
Central America and the CaribbeanInvestments-00$7,286,399
Europe (Including Iceland and Greenland)Investments-00$633,759
North America (Canada & Mexico only)Grantmaking-00$29,980
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$127,600
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
Annuities and Trusts Payable$4,884,303
Post-retirement Benefit Oblig.$4,746,331
Finance Lease Liabilities$214,256

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2019-08-30$41,632,000Refinance 2001, 2003, & 2013 bonds
BIndiana Finance Authority2022-06-17$15,500,000STUDENT HOUSING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$41,632,000-$22,897,600$84,019
B$15,500,000-$1,884,615$88,500

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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Alumni of wabash college are considered members, an alumus 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, Line 11B Review of form 990 by governing body

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

Form 990, Part VI, Line 12C 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 is recused from voting. The conflict of interest and the recusal are noted in the mintues of the board meeting.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

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, national surveys and trends, and performance against goals as part of the review process.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

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 2023.

Form 990, Part VI, Line 19 Required documents available to the public

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 the wabash college website.

Filing and Contact Details

Filer

Filer Name
Wabash College
EIN
35-0868202
Phone
7653616011
Address
PO Box 352, Crawfordsville, IN 47933

Signing Officer

Name
Kendra Cooks
Title
CFO, Treasurer
Phone
7653616212
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1832
Legal Domicile
In
Voting Board Members
40
Independent Board Members
39
Employees
1,002
Volunteers
35

Preparer

Firm
Forvis Mazars LLP
Address
820 Massachusetts Ave Suite 1370, Indianapolis, IN 46204
Preparer
Nicole Fishback
Phone
3173834000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Amortization of net gain - net periodic pension costs - -296896; defined-benefit postretirement health plan - -251461; prior service credit recognized in current year - -1144590;

Financial Statement Notes

Schedule D, Part X, Line 2 ASC 740 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, Part III, Line 1A Collections of art - financial statement footnote

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 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 the 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 the 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 Collections of art - description of collections

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 scholarship for students, funds for special projects, and general operating funds for the college.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Cost of goods sold - 167144

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Grants and scholarships - 28968745

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Cost of goods sold - 167144

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Grants and scholarships - 28968745

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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 THE CLASSROOM. ACADEMIC SUPPORT AND LIBRARY - SUPPORT SERVICES FOR INSTRUCTION, RESEARCH, AND PUBLIC SERVICE. INCLUDES LIBRARY AND COMPUTER SERVICES. 852 STUDENTS SERVED.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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