Civic Intelligence

Indiana Wesleyan University

990 • Fiscal year 2020 • EIN 35-0885591

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 16, 2020

Refreshing map…

4201 S Washington StreetMarion, IN 46953

(765) 677-2947

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.10x

Higher debt load relative to assets than 23% of similar nonprofits.

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

Liabilities / Revenue

22nd percentile

0.25x

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

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

Net Margin

34th percentile

0.5%

Higher net margin than 34% of similar nonprofits.

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

Top Officer Pay

15th percentile

$341,211

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

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

Asset Growth

15th percentile

-2.4%

Faster asset growth than 15% of similar nonprofits.

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

Revenue Growth

24th percentile

-5.3%

Faster revenue growth than 24% of similar nonprofits.

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

Assets

Down

$509,326,465

Down $12,512,841 (-2.4%) from 2019

Net Assets

Down

$457,997,378

Down $8,365,558 (-1.8%) from 2019

Liabilities

Down

$51,329,087

Down $4,147,283 (-7.5%) from 2019

Revenue

Down

$208,118,995

Down $11,735,848 (-5.3%) from 2019

Expenses

Down

$207,113,282

Down $4,753,125 (-2.2%) from 2019

Net Income

Down

$1,005,713

Down $6,982,723 (-87%) 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: $420,531,963Liabilities 2010: $100,395,946Net Assets 2010: $320,136,0172010Assets 2011: $406,214,048Liabilities 2011: $54,039,204Net Assets 2011: $352,174,8442011Assets 2012: $422,475,725Liabilities 2012: $62,362,192Net Assets 2012: $360,113,5332012Assets 2013: $437,048,714Liabilities 2013: $58,116,884Net Assets 2013: $378,931,8302013Assets 2014: $470,903,483Liabilities 2014: $56,324,079Net Assets 2014: $414,579,4042014Assets 2015: $478,442,166Liabilities 2015: $55,460,604Net Assets 2015: $422,981,5622015Assets 2016: $480,050,683Liabilities 2016: $58,929,276Net Assets 2016: $421,121,4072016Assets 2017: $498,667,818Liabilities 2017: $58,667,659Net Assets 2017: $440,000,1592017Assets 2018: $512,243,031Liabilities 2018: $56,113,062Net Assets 2018: $456,129,9692018Assets 2019: $521,839,306Liabilities 2019: $55,476,370Net Assets 2019: $466,362,9362019Assets 2020: $509,326,465Liabilities 2020: $51,329,087Net Assets 2020: $457,997,3782020Assets 2021: $576,888,484Liabilities 2021: $49,408,980Net Assets 2021: $527,479,5042021Assets 2022: $535,078,455Liabilities 2022: $49,945,565Net Assets 2022: $485,132,8902022Assets 2023: $572,069,015Liabilities 2023: $52,440,237Net Assets 2023: $519,628,7782023Assets 2025: $685,685,861Liabilities 2025: $60,011,177Net Assets 2025: $625,674,6842025

Highlighted filing

2020

Assets$509,326,465
Liabilities$51,329,087
Net Assets$457,997,378

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $164,813,0282010Expenses 2011: $171,764,9042011Expenses 2012: $203,017,3562012Expenses 2013: $204,230,0732013Revenue 2014: $226,180,003Expenses 2014: $205,335,163Net Income 2014: $20,844,8402014Revenue 2015: $228,769,168Expenses 2015: $217,121,849Net Income 2015: $11,647,3192015Revenue 2016: $224,787,145Expenses 2016: $217,353,837Net Income 2016: $7,433,3082016Revenue 2017: $220,162,282Expenses 2017: $216,902,960Net Income 2017: $3,259,3222017Revenue 2018: $225,099,742Expenses 2018: $216,163,600Net Income 2018: $8,936,1422018Revenue 2019: $219,854,843Expenses 2019: $211,866,407Net Income 2019: $7,988,4362019Revenue 2020: $208,118,995Expenses 2020: $207,113,282Net Income 2020: $1,005,7132020Revenue 2021: $211,253,299Expenses 2021: $205,931,732Net Income 2021: $5,321,5672021Revenue 2022: $212,201,058Expenses 2022: $213,678,137Net Income 2022: -$1,477,0792022Revenue 2023: $197,828,333Expenses 2023: $200,454,828Net Income 2023: -$2,626,4952023Revenue 2025: $269,090,976Expenses 2025: $223,084,044Net Income 2025: $46,006,9322025

Highlighted filing

2020

Revenue$208,118,995
Expenses$207,113,282
Net Income$1,005,713
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$246,686,274
Mission and Program Overview

Mission

Indiana wesleyan university's purpose is to search for truth, by study in liberal arts and in professional education within the framework of christian faith and philosophy so that the person is developed for service to god and man in the church and in society.

Indiana wesleyan university is a christ-centered academic community committed to changing the world by developing students in character, scholarship, and leadership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$263,854,681$254,922,121▼ $8,932,560
Investments in Publicly Traded Securities$214,357,956$217,302,779▲ $2,944,823
Accounts Receivable$8,196,597$7,631,735▼ $564,862
Other Notes and Loans Receivable, Net$8,061,019$7,022,850▼ $1,038,169
Savings and Temporary Cash Investments$11,399,583$6,994,256▼ $4,405,327
Pledges and Grants Receivable$7,149,531$6,022,103▼ $1,127,428
Prepaid Expenses and Deferred Charges$2,684,779$3,219,426▲ $534,647
Inventories for Sale or Use$25,885$0▼ $25,885
Cash and Non-Interest-Bearing Accounts$11,457$13,143▲ $1,686
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$521,839,306$509,326,465▼ $12,512,841
Other Assets Total$6,097,818$6,198,052▲ $100,234
Liabilities
Accounts Payable and Accrued Expenses$25,170,564$20,024,137▼ $5,146,427
Tax Exempt Bond Liabilities$14,949,201$14,969,521▲ $20,320
Other Liabilities$10,932,746$10,270,883▼ $661,863
Deferred Revenue$4,423,859$6,064,546▲ $1,640,687
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$55,476,370$51,329,087▼ $4,147,283
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$381,945,048$377,468,550▼ $4,476,498
Net Assets With Donor Restrictions$84,417,888$80,528,828▼ $3,889,060
Total Net Assets Fund Balance$466,362,936$457,997,378▼ $8,365,558
Total Liabilities and Net Assets / Fund Balance$521,839,306$509,326,465▼ $12,512,841

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$216,112,569$124,894,247$341,006,816
Equipment$13,601,587$12,702,624$26,304,211
Land$23,706,956-$23,706,956
Other Land Buildings$1,501,009$2,835,346$4,336,355

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$204,472,442$7,498,554▼ $4,059,463-$201,367,949
2018$190,810,563$12,729,218▲ $6,845,801-$204,472,442
2017$166,785,949$14,592,218▲ $14,637,212-$190,810,563
2016$146,838,068$6,226,436▲ $18,679,849-$166,785,949
2015$145,985,049$9,375,236▼ $3,622,176-$146,838,068
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David WrightUniversity PresidentFT$245,893$95,318$341,211
Dennis Matthew LucasChancellor/national & Global CFT$152,210$46,960$199,170
Martin RiceDean of School of Health ScienFT$137,770$55,688$193,458
Nancy SchoonmakerCFO/VP of Business AffairsFT$139,904$51,085$190,989
Scott TurcottVP of University AdvancementFT$136,627$40,919$177,546
Stacy HammonsProvostFT$149,988$24,937$174,925
Warren RogersProfessor/blanchard Endowed ChFT$141,718$30,391$172,109
Diane McdanielVP of Diversity and InclusionFT$139,071$30,608$169,679
Connie ErpeldingTrusteePT$8,226-$8,226

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Pioneer College CaterersFood Service303 GLENROSE AVENUE, Nashville, TN 37210$5,490,526
Spectrum ReachAdvertisingPO BOX 782922, Philadelphia, PA 19178$757,259
Ruffalo Noel LevitzEnroll. ConsultantPO BOX 718, Des Moines, IA 50303$509,903
Peregrine Academic ServicesAssessmentPO BOX 741, Gillette, WY 82717$509,014
Reach Network INCAdvertising123 LAKE ST S STE B-1, Kirkland, WA 98033$291,555
Revenue and Support

Revenue Composition

Contributions and Grants
$12,518,248
Program Service Revenue
$189,466,894
Investment Income
$5,865,597
Other Revenue
$268,256
All Other Contributions
$3,857,941
Change in Net Assets
$1,005,713

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
Other Non Cash Contri Table2$11,561Fair Market Value (FMV)
Total Noncash Contributions2$11,561-

Audited Revenue Reconciliation

Revenue per Audited Statements
$172,761,286
Revenue Not Reported on Financial Statements
$35,357,709
Revenue Not Reported on Form 990
$-8,459,016
Other Revenue Adjustments
$35,357,709
Total Revenue per Audited Statements
$164,302,270
Total Revenue per Form 990
$208,118,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$104,768,856
Other Expenses$66,895,765
Grants and Similar Amounts Paid$35,436,199
Total Fundraising Expense$1,956,958
Professional Fundraising Fees$12,462

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$71,000,958$5,963,370$998,153$77,962,481
Grants to Domestic Individuals$35,357,709--$35,357,709
Advertising$16,053,620$346,276$60,377$16,460,273
Other Employee Benefits$12,946,543$1,507,575$225,973$14,680,091
Depreciation Depletion$12,120,209$1,082,633-$13,202,842
Information Technology$4,198,571$3,768,394$80,000$8,046,965
Occupancy$6,611,660$642,927-$7,254,587
Office Expenses$4,888,176$2,040,543$107,548$7,036,267
Pension Plan Contributions$5,068,056$670,798$99,815$5,838,669
Payroll Taxes$4,647,596$513,160$76,359$5,237,115
Travel$2,246,333$100,553$221,478$2,568,364
Other Expenses$2,113,527--$2,113,527
Fees for Service Investment Mgmnt Fees-$1,001,619-$1,001,619
Insurance-$937,560-$937,560
Fees for Services Other$604,768$150,021$70,297$825,086
Current Officers, Directors, Trustees, and Key Employees$0$744,610-$744,610
Conferences and Meetings$303,562$259,528$4,496$567,586
Interest$321,411$11,981-$333,392
Comp Disqual Persons$305,890--$305,890
Fees for Services Legal-$183,666-$183,666
Fees for Services Accounting-$79,900-$79,900
Grants to Domestic Orgs$78,490--$78,490
Fees for Services Professional Fundraising--$12,462$12,462
Total Functional Expenses$185,151,210$20,005,114$1,956,958$207,113,282

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$207,113,282
Total Expenses per Audited Statements$172,354,018
Expenses per Audited Statements$171,755,573
Expenses Not Reported on Financial Statements$35,357,709
Other Expense Adjustments$35,357,709
Expenses Not Reported on Form 990$598,445
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community FoundationMarion, IN501 C 3Operational Support$17,450
United Way of Grant CountyMarion, IN501 C 3Operational Support$15,000
Bridges to HealthMarion, IN501 C 3Operational Support$12,000
Family Services SocietyMarion, IN501 C 3Operational Support$10,000
Grace House for RecoveryMarion, IN501 C 3Operational Support$8,040
Boys & Girls ClubMarion, IN501 C 3Operational Support$8,000
Project LeadershipMarion, IN501 C 3Operational Support$8,000

International Summary

Spending
$283,633

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesAcademic/mission Trip--$104,100
Sub-saharan AfricaProgram ServicesAcademic/mission Trip--$78,787
Central America/caribbeanProgram ServicesAcademic/mission Trip--$42,111
East Asia and the PacificProgram ServicesFinancial Aid--$23,559
Central America/caribbeanProgram ServicesFinancial Aid--$11,063
EuropeProgram ServicesFinancial Aid--$8,278
South AmericaProgram ServicesEducational Services--$8,075
North AmericaProgram ServicesEducational Services--$3,900
Cenral America/caribbeanProgram ServicesEducational Services--$2,250
Middle East and North AfricaProgram ServicesAcademic/mission Trip--$1,141
EuropeProgram ServicesAcademic/mission Trip--$369
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$12,462
Professional Fundraising Fees$12,462
Fundraising Gross Income$4,360
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Colescott Golf$27,278$4,360$12,462$-8,102
Total Events$27,278$4,360$12,462$-8,102
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
Substantial ContributorSubstantial ContributorIndependent ContractorNo$5,490,526
Tlc ManagementGary Ott OwnerLease IncomeNo$2,727,665
Tree of LifeNancy Campbell Part OwnerPrint/mail ExpNo$534,612
Tree of LifeNancy Campbell Part OwnerCommission IncomeNo$241,142
Campus IncNancy CampbellSoftware Provider ExpNo$200,000
Financial Advisory CorpPaul Anthes Shareholder and PresidentInvestment Fees ExpNo$180,340
Phillip RenfroeBro-in-law of David WrightCompensated by IwuNo$129,741
Ryan ShepherdSon of Carl ShepherdCompensated by IwuNo$85,562
Jerry ShepherdBrother of Carl ShepherdCompensated by IwuNo$68,437
Tree of LifeNancy Campbell Part OwnerLease IncomeNo$52,134
Brooklyn EckartDaughter of Mark EckartCompensated by IwuNo$51,181
EmplifySantiago Jaramillo - CEO and Co-founderEmployee Engagement SoftwareNo$50,720
Graeme ElsSon-in-law of David WrightCompensated by IwuNo$48,351
Christin TaylorDaughter of David WrightCompensated by IwuNo$24,672
Tree of Life ConsultingNancy Campbell Part OwnerConsulting ExpNo$10,000

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
Federal Advance for Student Lo$5,472,969
Annuity Payment Liability$1,903,144
Accum Postretirement Benefits$1,074,487
Refundable Deposits & Security$1,046,595
Trust Liabilities$470,685
Capital Lease Obligations$303,003

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Marion Economic Dev Series 20162016-12-01$15,000,000CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$15,000,000$0$0$0

Bond Financing Compliance

No rebate due
No
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
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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 1B

Board members paul anthes, gary ott, nancy campbell, carl shepherd, david wright, mark eckart, nathan hoover, mark meeks, santiago jaramillo, shawn cossin, and christopher conrad are non-independent due to information disclosed on schedule l. University president, david wright, is also a compensated employee of iwu. Form 990, part vi, section a, line 2 dan bickel and nathan hoover have a family relationship. Mark meeks and david wright have a family relationship.

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

The entire board receives a copy of the return before filing. It is also reviewed by an independent cpa firm.

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

Indiana wesleyan's conflict of interest policy is signed annually by the officers, trustees, and key employees. The audit committee of the board of trustees annually reviews the policy. The completed questionnaires are reviewed by the board of trustees chairperson and president.

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

The compensation committee of the board of trustees annually reviews and sets the president's salary based on an external benchmark, which is the 75th percentile of presidents of schools in the council of christian colleges and universities. In turn, key employees are benchmarked by the 75th percentile for their discipline. All other compensation is reviewed and approved by executive employees.

Form 990, Part VI, Section C, Line 19

Copies of documents and policies can be obtained by contacting the office of the vice president for business affairs.

Filing and Contact Details

Filer

Filer Name
Indiana Wesleyan University
EIN
35-0885591
In Care Of
% NANCY SCHOONMAKER
Phone
7656772947
Address
4201 S WASHINGTON STREET, MARION, IN 46953

Signing Officer

Name
Nancy Schoonmaker
Title
CFO
Phone
7656772947
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Schoonmaker
Formed
1920
Legal Domicile
In
Voting Board Members
32
Independent Board Members
21
Employees
4,614
Volunteers
5

Preparer

Firm
Bkd Llp
Address
200 E Main St Suite 700, Fort Wayne, IN 46802
Preparer
Lauren R Denton
Phone
2604604000
Supplemental Narrative

Additional Explanations

Part XI, Reconciliation of Net Assets

Line 9 change in value of split-interest agreements (277,017) change in beneficial interest in perpetual trusts (36,793) total: (313,810)

Financial Statement Notes

Schedule D, Part V, Line 4

The university's endowment consists of approximately 300 individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the governing body to function as endowments (board-designated endowment funds). As required by accounting principles generally accepted in the united states of america (gaap), net assets associated with endowment funds, including board-designated endowment funds, are classified and reported based on the existence or absence of donor-imposed restrictions.

Asc 740 Footnote

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 Reconciliation

Part xi & xii line 2d rental expense reclass $585,983 fundraising expense $ 12,462 total: $598,445 line 4b scholarships $35,357,709

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$686$60.0$626$269$223$46.0
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$572$52.4$520$198$200$2.63
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$535$49.9$485$212$214$1.48
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$577$49.4$527$211$206$5.32
2020Detailed filing. Detailed filing data is available for this year.$509$51.3$458$208$207$1.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$522$55.5$466$220$212$7.99
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$512$56.1$456$225$216$8.94
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$499$58.7$440$220$217$3.26
2016Detailed filing. Detailed filing data is available for this year.$480$58.9$421$225$217$7.43
2015Detailed filing. Detailed filing data is available for this year.$478$55.5$423$229$217$11.6
2014Detailed filing. Detailed filing data is available for this year.$471$56.3$415$226$205$20.8
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$437$58.1$379$204
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$422$62.4$360$203
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$406$54.0$352$172
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$421$100$320$165
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $250M-$1B nonprofits