Civic Intelligence

Illinois Wesleyan University

990 • Fiscal year 2018 • EIN 37-0662594

Aug 01, 2017 to Jul 31, 2018 • Filed on Jun 11, 2019

PO Box 2900Bloomington, IL 61702

(309) 556-3449

Siviq Scores

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

Liabilities / Assets

49th percentile

0.31x

Higher debt load relative to assets than 49% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

85th percentile

1.75x

Higher debt load relative to revenue than 85% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

9th percentile

-11%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

16th percentile

$379,393

Higher top officer pay than 16% of similar nonprofits.

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

33rd percentile

0.5%

Faster asset growth than 33% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2018

Revenue Growth

12th percentile

-9.7%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2018

Assets

Up

$381,150,421

Up $3,816,076 (+1.0%) from 2016

Net Assets

Up

$261,919,113

Up $3,912,581 (+1.5%) from 2016

Liabilities

Down

$119,231,308

Down $96,505 (-0.1%) from 2016

Revenue

Down

$68,166,368

Down $15,489,650 (-19%) from 2016

Expenses

Up

$75,658,407

Up $1,512,544 (+2.0%) from 2016

Net Income

Down

-$7,492,039

Down $17,002,194 (-179%) from 2016

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $324,890,572Liabilities 2010: $121,880,322Net Assets 2010: $203,010,2502010Assets 2011: $347,911,269Liabilities 2011: $121,238,385Net Assets 2011: $226,672,8842011Assets 2012: $356,996,117Liabilities 2012: $127,527,744Net Assets 2012: $229,468,3732012Assets 2013: $384,426,354Liabilities 2013: $126,367,587Net Assets 2013: $258,058,7672013Assets 2014: $395,382,216Liabilities 2014: $121,651,066Net Assets 2014: $273,731,1502014Assets 2015: $393,108,424Liabilities 2015: $120,069,357Net Assets 2015: $273,039,0672015Assets 2016: $377,334,345Liabilities 2016: $119,327,813Net Assets 2016: $258,006,5322016Assets 2018: $381,150,421Liabilities 2018: $119,231,308Net Assets 2018: $261,919,1132018Assets 2019: $376,723,932Liabilities 2019: $117,209,850Net Assets 2019: $259,514,0822019Assets 2020: $377,291,473Liabilities 2020: $114,836,862Net Assets 2020: $262,454,6112020Assets 2021: $439,789,641Liabilities 2021: $111,809,357Net Assets 2021: $327,980,2842021Assets 2024: $436,309,632Liabilities 2024: $108,175,807Net Assets 2024: $328,133,8252024

Highlighted filing

2018

Assets$381,150,421
Liabilities$119,231,308
Net Assets$261,919,113

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $71,192,9972010Expenses 2011: $72,145,4872011Expenses 2012: $72,659,0412012Expenses 2013: $72,801,4912013Revenue 2014: $79,374,884Expenses 2014: $75,103,764Net Income 2014: $4,271,1202014Revenue 2015: $79,794,548Expenses 2015: $74,682,853Net Income 2015: $5,111,6952015Revenue 2016: $83,656,018Expenses 2016: $74,145,863Net Income 2016: $9,510,1552016Revenue 2018: $68,166,368Expenses 2018: $75,658,407Net Income 2018: -$7,492,0392018Revenue 2019: $74,052,550Expenses 2019: $76,879,835Net Income 2019: -$2,827,2852019Revenue 2020: $72,297,405Expenses 2020: $70,648,924Net Income 2020: $1,648,4812020Revenue 2021: $142,868,777Expenses 2021: $67,728,730Net Income 2021: $75,140,0472021Revenue 2024: $66,128,003Expenses 2024: $77,950,182Net Income 2024: -$11,822,1792024

Highlighted filing

2018

Revenue$68,166,368
Expenses$75,658,407
Net Income-$7,492,039
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Jun 11, 2019
Return Version
2017v2.3
Gross Receipts
$91,493,209
Mission and Program Overview

Mission

The university strives to attain the ideal of a liberal arts education while providing unique opportunities with its distinctive curricula and programs. A liberal arts education fosters creativity, critical thinking, effective communication, strength of character and a spirit of inquiry; it deepens the specialized knowledge of a discipline with a comprehensive world view.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$190,996,151$188,535,438▼ $2,460,713
Investments in Publicly Traded Securities$146,119,879$154,105,260▲ $7,985,381
Investments Other Securities$15,506,013$16,014,349▲ $508,336
Other Notes and Loans Receivable, Net$7,633,940$7,331,050▼ $302,890
Pledges and Grants Receivable$7,347,173$6,415,917▼ $931,256
Savings and Temporary Cash Investments$7,420,312$4,448,557▼ $2,971,755
Accounts Receivable$6,206,257$1,230,244▼ $4,976,013
Prepaid Expenses and Deferred Charges$1,451,554$1,064,899▼ $386,655
Inventories for Sale or Use$705,930$732,842▲ $26,912
Cash and Non-Interest-Bearing Accounts$100,027$98,460▼ $1,567
Total Assets$384,068,782$381,150,421▼ $2,918,361
Other Assets Total$581,546$1,173,405▲ $591,859
Liabilities
Tax Exempt Bond Liabilities$74,180,607$72,999,134▼ $1,181,473
Other Liabilities$30,996,887$30,166,852▼ $830,035
Deferred Revenue$9,529,092$7,630,566▼ $1,898,526
Unsecured Notes Loans Payable$4,000,000$6,000,000▲ $2,000,000
Accounts Payable and Accrued Expenses$2,651,836$2,434,756▼ $217,080
Total Liabilities$121,358,422$119,231,308▼ $2,127,114
Net Assets / Fund Balance
Unrestricted Net Assets$144,230,489$144,634,050▲ $403,561
Permanently Rstr Net Assets$92,440,942$93,404,627▲ $963,685
Temporarily Rstr Net Assets$26,038,929$23,880,436▼ $2,158,493
Total Net Assets Fund Balance$262,710,360$261,919,113▼ $791,247
Total Liabilities and Net Assets / Fund Balance$384,068,782$381,150,421▼ $2,918,361

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$108,766,780$108,256,383$214,928,406
Equipment$25,403,202-$25,403,202
Land$54,374,815-$9,741,742

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$203,346,555$884,902▲ $19,330,109$204,603$207,198,480
2016$201,840,803$1,004,710▲ $13,275,279$355,567$203,346,555
2015$216,245,018$3,230,496▼ $4,802,899$311,315$201,840,803
2014$219,508,439$1,965,964▲ $6,038,123$210,984$216,245,018
2013$205,398,671$7,121,809▲ $16,764,160$211,861$219,508,439
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eric R JensenPresidentFT$328,333$51,060$379,393
Steven SeibringAssc VP AdvFT$194,167$37,409$231,576
Leann HughesVP Enrllmt &FT$175,729$47,919$223,648
Leann HughesVP Enrllmt & Mrkting-$175,729$47,919$223,648
Daniel P KlotzbachVP Bus & FinFT$168,489$40,068$208,557
Daniel P KlotzbachVP Bus & Fin Aug-dec-$168,489$40,068$208,557
Karla Carney-hallVP Stud AffrFT$144,331$32,810$177,141
Michele BradyAssoc VP AdvFT$125,521$42,062$167,583
Michele BradyAssoc VP Advancement-$125,521$42,062$167,583
Mario PelusiProfessorFT$125,920$40,903$166,823
Michael SeeborgProfessorFT$116,770$27,127$143,897
Mark BrodlProvostFT$94,365$21,374$115,739

Highest Paid Contractors

ContractorServicesLocationCompensation
Ruyle Mechanical Services INCMechanical Serv1325 NE BOND ST, SUITE 201, Peoria, IL 61603$644,482
Carroll Seating Company INCSeating Install2105 LUNT AVE, PO BOX 160, Elk Grove Village, IL 60007$594,500
Kelly Services INCTemporary Staff1212 SOLUTIONS CENTER, Chicago, IL 60677-1002$342,854
Capture LLCStudent Recruit2303 RIVER RD, Louisville, KY 40206$293,000
Core Construction Services Of IllinoGeneral Contrac866 N MAIN ST, Morton, IL 61550$284,096
Revenue and Support

Revenue Composition

Contributions and Grants
$6,333,687
Program Service Revenue
$52,738,796
Investment Income
$7,708,735
Other Revenue
$1,385,150
All Other Contributions
$5,471,445
Change in Net Assets
$-7,492,039

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 Traded40$339,119Fair Market Value
Other Non Cash Contri Table7$6,644Fair Value
Total Noncash Contributions47$345,763-

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,152,818
Revenue Not Reported on Financial Statements
$13,550
Revenue Not Reported on Form 990
$6,734,261
Other Revenue Adjustments
$13,550
Total Revenue per Audited Statements
$74,887,079
Total Revenue per Form 990
$68,166,368
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$41,958,429
Other Expenses$33,652,811
Total Fundraising Expense$2,816,032
Professional Fundraising Fees$47,167
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$27,576,618$2,372,678$1,223,649$31,172,945
Occupancy$6,915,621$43,857$14,129$6,973,607
Other Employee Benefits$5,264,511$447,249$222,952$5,934,712
Depreciation Depletion$5,527,382--$5,527,382
Office Expenses$2,835,123-$336,098$3,171,221
Interest$2,490,408--$2,490,408
All Other Expenses$2,318,150$42,598$67,688$2,428,436
Payroll Taxes$1,859,808$189,703$110,142$2,159,653
Pension Plan Contributions$1,543,236$193,339$96,623$1,833,198
Travel$1,379,121$39,997$153,284$1,572,402
Conferences and Meetings$928,349$31,599$51,327$1,011,275
Information Technology$483,120$461,354$4,890$949,364
Other Expenses$888,234--$888,234
Current Officers, Directors, Trustees, and Key Employees-$487,921$370,000$857,921
Insurance$759,307$2,205-$761,512
Fees for Service Investment Mgmnt Fees-$300,559-$300,559
Advertising$113,002$11,698$92,185$216,885
Fees for Services Other$190,150$460$25,898$216,508
Fees for Services Legal$198,057--$198,057
Fees for Services Accounting$169,268--$169,268
Fees for Services Professional Fundraising--$47,167$47,167
Royalties$4,475--$4,475
Total Functional Expenses$68,217,158$4,625,217$2,816,032$75,658,407

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$75,678,326
Total Expenses per Form 990$75,658,407
Expenses per Audited Statements$75,644,857
Expenses Not Reported on Form 990$33,469
Expenses Not Reported on Financial Statements$13,550
Other Expense Adjustments$13,550
International Activity

International Summary

Spending
$588,676

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
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Barcelona, SpainProgram ServiceStudy Abroad--$306,667
London, EnglandProgram ServiceStudy Abroad--$282,009
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$47,167
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Postretirement Benefits$13,243,000
Annuities Payable$7,843,174
Refundable US Government Grants$4,330,221
Asset Retirement Obligation$4,284,955
Agency Funds$465,502

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIllinois Finance Authorityseries2012016-07-13$56,775,000Refi series 2006, 2006b, & 2008
AIllinois Finance Authorityseries2012012-05-30$12,900,000Refi series 2001 & fund construction of 2 apartment style housing units

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$56,775,000$292,093-$523,341
A$12,900,000$192,722$1,845,000$301,416

Bond Financing Compliance

No rebate due
Yes
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
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, Page 6, Part VI, Line 1A

In accordance with the by-laws of the board of trustees, the executive committee shall meet at least once between regular meetings of the board. The executive committee shall have and may exercise the authority of the board in the interim between stated meetings of the board to the extent permitted by law and the by-laws and the board itself, except that the executive committee shall not conduct elections of the board members, nor fill vacancies of the board.

Form 990, Page 6, Part VI, Line 9

Daniel p. Klotzbach 5455 n sheridan rd chicago, il 60640

Form 990, Page 6, Part VI, Line 11B

It is the policy of the board of trustees of illinois wesleyan university that the audit committee shall review internal revenue services form 990 prior to filing it with the irs. Once the audit committee has reviewed irs form 990, a copy shall be made available to all board members prior to filing of form 990. Board members shall exercise their best effort to review form 990. Board members who have comments or revisions to form 990 shall submit those comments or revisions to the audit committee chair no later than one week following notification of the availability of the form 990 being posted for review.

Form 990, Page 6, Part VI, Line 12C

An annual conflict of interest statement is collected from trustees and key employees. Reminders are sent to trustees and key employees with outstanding statements until received. Conflicts disclosed are reviewed and monitored. Trustees abstain from voting when a vote is required and the trustee has a conflict of interest.

Form 990, Page 6, Part VI, Line 15A

The president's salary is approved annually by the executive committee of the board of trustees and a written agreement is signed by both parties. Salary amount is based on, but not limited to: prior salary, budgeted compensation increase to all employees of the university, performance, changes in responsibility, comparative data from cupa and other relevant factors as determined by the executive committee of the board of trustees.

Form 990, Page 6, Part VI, Line 15B

Vice presidents salaries are approved annually by the executive committee of the board of trustees. Salary amounts are based on, but not limited to: prior salary, budgeted compensation increase to all employees of the university, performance, changes in responsibility, comparative data from cupa and other relevant factors as determined by the executive committee of the board of trustees.

Form 990, Page 6, Part VI, Line 19

The university does not make its governing documents, conflict of interest policy or financial statements available to the public. Requests for such data are reviewed and information is provided if deemed appropriate.

Filing and Contact Details

Filer

Filer Name
Illinois Wesleyan University
EIN
37-0662594
Phone
3095563449
Address
PO BOX 2900, BLOOMINGTON, IL 61702

Signing Officer

Name
Matt Bierman
Title
VP Bus & Fin May-jul
Phone
3095563449
Signed
2019-06-11

Organization Details

Principal Officer
Matt Bierman
Formed
1850
Legal Domicile
Il
Voting Board Members
40
Independent Board Members
39
Employees
2,088
Volunteers
714

Preparer

Firm
Illinois Wesleyan University
Address
303 E EMERSON ST, BLOOMINGTON, IL 61701-1730
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The university strives to attain the ideal of a liberal arts education while providing unique opportunities with its distinctive curricula and programs. A liberal arts education fosters creativity, critical thinking, effective communication, strength of character and a spirit of inquiry; it deepens the specialized knowledge of a discipline with a comprehensive world view.

Form 990, Page 1, Part I, Line 6

Volunteers participate in various academic, campus and alumni events like homecoming and alumni relations connections events. Academic volunteers speak to classes, act as mentors and host student visits to various workplaces.

Form 990, Page 2, Part III, Line 4D

Instruction to approximately 1,700 students for baccalaureate degrees in the liberal arts and sciences, nursing, fine arts, drama and music. Student services include education, housing, and board.

Form 990, Part XI, Line 9

Change in pv of swap agreement 591,860 change in split interest annuity agreements -510,522 cogs - form 990 t catering 556,469 parking lot exp form 990t inc -13,550 recognition of change in postretirment funded status 523,000 cogs - form 990-t catering -556,469 parking lot exp form 990t inc 13,550 total 604,338

Financial Statement Notes

Schedule D, Page 1, Part III, Line 1A

Contributed collections such as works of art and historical treasures, where no appraised value was attainable at the time of receipt, are not recognized as revenue and have not been capitalized or depreciated. A collection of traditional pueblo pottery and a few wooden and basketry objects was presented to the university in the mid 1880's by john wesley powell. The collection is preserved by the university and is on display in the ames library.

Schedule D, Page 2, Part V, Line 4

Endowment funds are intendd to provide financial support for scholarships, scholarly achievement, program support and other functions of the university consistent with donor intent. Financial support is provided from investment income of the endowed corpus, which is invested to provide income in perpetuity.

Schedule D, Page 3, Part X

In accordance with u.s. Generally accepted accounting principles, the university recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Based upon this practice the university, as of july 31, 2018, has not recorded a liability for any unrecognized tax benefits.

Schedule D, Page 4, Part XI, Line 2D

Change in pv of swap agreement 591,860 change in split interest annuity agreements -510,522 cogs - form 990 t catering 556,469

Schedule D, Page 4, Part XI, Line 4B

Parking lot exp form 990t inc 13,550

Schedule D, Page 4, Part XII, Line 2D

Recognition of change in postretirment funded status -523,000 cogs - form 990-t catering 556,469

Schedule D, Page 4, Part XII, Line 4B

Parking lot exp form 990t inc 13,550

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IRS990/ContractorCompensationGrp/ServicesDesc1SEATING INSTALL
IRS990/ContractorCompensationGrp/ServicesDesc2TEMPORARY STAFF
IRS990/ContractorCompensationGrp/ServicesDesc3STUDENT RECRUIT
IRS990/ContractorCompensationGrp/ServicesDesc4GENERAL CONTRAC
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IRS990/Desc0ILLINOIS WESLEYAN'S UNIVERSITY PROVIDES A RICH LEARNING ENVIRONMENT FOR APPROXIMATELY 1,700 UNDERGRADUATE STUDENTS WITH EXTENSIVE PERSONAL ATTENTION. THE EXPERIENTIAL LEARNING MODEL FOSTERS CREATIVITY, CRITICAL THINKING, EFFECTIVE COMMUNICATION, STRENGTH OF CHARACTER AND A SPIRIT OF INQUIRY. THE INSTITUTION SERVES STUDENTS PURSING BACCALAUREATE DEGREES IN THE LIBERAL ARTS, FINE ARTS AND PROFESSIONAL PROGRAMS AS WELL AS INTERDISCIPLINARY STUDY AND OFF CAMPUS LEARNING. SPECIFIC DISCIPLINES OF EMPHASIS INCLUDE BIOLOGY, NURSING, ACCOUNTING, BUSINESS, THEATER AND MUSIC. THE UNIVERSITY OFFERS A ROBUST STUDENT LIFE AND RESIDENTIAL EXPERIENCE TO CREATE AN INCLUSIVE COMMUNITY FOR STUDENTS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$436$108$328$66.1$78.0$11.8
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$440$112$328$143$67.7$75.1
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$377$115$262$72.3$70.6$1.65
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$377$117$260$74.1$76.9$2.83
2018Detailed filing. Detailed filing data is available for this year.$381$119$262$68.2$75.7$7.49
2016Detailed filing. Detailed filing data is available for this year.$377$119$258$83.7$74.1$9.51
2015Detailed filing. Detailed filing data is available for this year.$393$120$273$79.8$74.7$5.11
2014Detailed filing. Detailed filing data is available for this year.$395$122$274$79.4$75.1$4.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$384$126$258$72.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$357$128$229$72.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$348$121$227$72.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$325$122$203$71.2