2024-11-11T07:39:05+00:00 2024-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2023-07-01 350885591 INDIANA WESLEYAN UNIVERSITY INDI 7656772947 4201 S WASHINGTON STREET MARION IN 46953 JEFFREY RAYIS CFO 7656772947 2024-11-11 true true Lauren Denton P01571860 2604604000 2023-11-09 2023 2024-10-15 13:58:12Z JEFFREY RAYIS 4201 S WASHINGTON STREET MARION IN 46953 281233635 false X WWW.INDWES.EDU X 1920 IN INDIANA WESLEYAN UNIVERSITY IS A CHRIST-CENTERED ACADEMIC COMMUNITY COMMITTED TO CHANGING THE WORLD BY DEVELOPING STUDENTS IN CHARACTER, SCHOLARSHIP, AND LEADERSHIP 26 20 3673 374 0 0 15690230 15552084 174903737 197491436 7205782 12303726 28584 701810 197828333 226049056 34239882 34180022 0 0 91092143 92872071 246586 0 2490580 74876217 85965578 200454828 213017671 -2626495 13031385 572069015 614595507 52440237 59305420 519628778 555290087 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. false false 190169830 34180022 197491436 INSTRUCTION:THIS PROGRAM ENCOMPASSES A WIDE RANGE OF INSTRUCTIONS IN LIBERAL ARTS CURRICULUM, AS WELL AS PROVIDING TEXTBOOK DISTRIBUTION AND RESIDENTIAL DINING SERVICES FOR STUDENTS. BOOKSTORE: THIS PROGRAM SERVICE PROVIDES TEXTBOOK DISTRIBUTION FOR STUDENTS. FOOD SERVICE: THIS PROGRAM SERVICE PROVIDES STUDENTS RESIDENTIAL DINING SERVICES. 190169830 true true false false false false false false true true false false false true false false true true false true false false false true false false true true true true false false false false false false true true true false true false false false true true true true false false true 19056 0 3673 true false false false false false true true false false false false false false X 26 20 false false false false false false false true true false false true true true true true true true true false IN X JEFFREY RAYIS 7656772947 4201 S WASHINGTON STREET MARION IN 46953 Dr Jonathan S Kulaga University President 39.0 1.0 X X 327158 0 66034 Barry Hines Trustee 1.0 1.0 X 0 0 0 Brian Harlow Trustee 1.0 0.0 X 0 0 0 Carl Shepherd Trustee 1.0 0.0 X 0 0 0 Christopher Conrad Trustee 1.0 0.0 X 0 0 0 Cindy Krall Trustee-Began March 2024 1.0 0.0 X 0 0 0 Connie Erpelding Trustee (END 04/24) 1.0 0.0 X 5995 0 0 Dale Sloan Trustee 1.0 0.0 X 0 0 0 David Dimmich Trustee 1.0 0.0 X 0 0 0 Debbye Turner Bell Trustee 1.0 0.0 X 0 0 0 Diane Foley Trustee 1.0 0.0 X 0 0 0 Donald Cady Trustee 1.0 0.0 X 0 0 0 Evan Longstreth Trustee (END 07/23) 1.0 0.0 X 0 0 0 Gary Ott Trustee 1.0 0.0 X 0 0 0 James Poore II Trustee 1.0 0.0 X 0 0 0 Jeffrey Freeman Trustee 1.0 0.0 X 0 0 0 Kevin Myers Trustee 1.0 0.0 X 0 0 0 Michael Carmichael Trustee 1.0 0.0 X 0 0 0 Michael Colaw Trustee 1.0 0.0 X 0 0 0 Paul Anthes Trustee 1.0 0.0 X 0 0 0 Petra Ray Trustee 1.0 0.0 X 0 0 0 Ryan Frank Trustee 1.0 0.0 X 0 0 0 Sharon Epps Trustee 1.0 0.0 X 0 0 0 Stephen Laudermilch Trustee-Began Nov 2023 1.0 0.0 X 0 0 0 Steven DeNeff Trustee 1.0 0.0 X 0 0 0 Steven Edmondson Trustee 1.0 0.0 X 0 0 0 Thomas Schmidt Trustee 1.0 0.0 X 0 0 0 Yaremi Alicea Morales Trustee 1.0 0.0 X 0 0 0 Nancy Schoonmaker Executive VP & CFO (END 11/24) 39.0 1.0 X 184725 0 18126 Tiffany J Lewis Interim CFO (BEGAN 11/24) 40.0 0.0 X 102090 0 11057 Eulala (Eillen) Hulme Chancellor of National and Global 39.0 1.0 X 165304 0 6046 Amanda J Drury Professor 40.0 0.0 X 114069 0 35418 Kevin J Wachtel EX. DIRECTOR PARTNERSHIP DEV. & OPS. 39.0 1.0 X 156738 0 13808 Michael D White Lead Coordinator of International Studies 40.0 0.0 X 143093 0 3926 Robert J Childs Professor/Director of Aviation/Dept Chair 40.0 0.0 X 129247 0 10363 Tod J Dalberg Chief Marketing Officer 40.0 0.0 X 140418 0 32435 Yamil Acevedo Executive Vice President, Seminary 40.0 0.0 73649 0 36330 1542486 0 233543 74 false true false Google LLC PO Box 883654 Los Angeles CA 90088 Advertising Services 6716383 Malachi Global Pathway Group Inc PO Box 11362 Zephyr Cove NV 89448 Recruitment Services 5798800 Pioneer College Caterers 303 Glenrose Avenue Nashville TN 37210 Food Service 5217966 Slingshot LP 1500 S Western Ave Marion IN 46953 Bookstore 5056456 EchoPoint Media 407 Fulton St Indianapolis IN 46202 Media Services 3172888 68 34200 2165991 3090403 10261490 53116 15552084 TUITION AND FEES 900099 172260695 172260695 FOOD SERVICE 451211 8929550 8929550 RESIDENCE HALLS 721310 8808164 8808164 CONFERENCES 721310 2033033 2033033 BOOKSTORE 900099 1349833 1349833 4110161 4110161 0 0 197491436 11430143 11430143 1624612 921250 703362 0 703362 703362 55124120 54250537 873583 0 873583 873583 11240 34200 12792 -1552 -1552 0 0 0 0 0 226049056 197491436 0 13005536 72000 72000 34108022 34108022 914957 914957 475042 475042 71850565 63297376 7476628 1076561 3549604 2602789 839159 107656 10948350 9512082 1241330 194938 5133553 4409240 641956 82357 37498 37498 84850 84850 232176 232176 4287897 3507065 565682 215150 20981624 20480195 312769 188660 5967962 5208015 534749 225198 8281657 3896267 4273626 111764 7272847 6806800 466047 5052266 4196684 571565 284017 389411 308065 77067 4279 608995 570567 38428 13782272 12912611 869661 1179113 1179113 RECRUITMENT SERVICES 8576272 8576272 FOOD SERVICE 5217966 5217966 UNCOLLECTIBLE ACCOUNTS 4012772 4012772 0 0 0 0 213017671 190169830 20357261 2490580 26964 17976 10800887 10683705 1269441 586215 11307502 14068171 0 0 4510385 3759013 4029945 3388596 403048277 180919067 231640817 222129210 302349203 347693787 0 0 6133871 12268834 572069015 614595507 16948618 23257343 9639025 10562178 14953277 14966020 0 10899317 10519879 52440237 59305420 X 416903742 443861795 102725036 111428292 519628778 555290087 572069015 614595507 X 13031385 21992444 637480 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 265768494 2560551 30402545 7540638 2557966 288632986 229901931 25716263 21871181 11720881 265768494 268508114 2343292 -33754228 7195247 229901931 201367949 6551964 67446885 6858684 268508114 204472442 7498554 -4059463 6543584 201367949 0.676 0.22 0.104 true false 24083693 24083693 348115199 159131724 188983475 30849383 21787343 9062040 2 2 222129210 REFUNDABLE DEPOSITS & SECURITY 840731 ACCUM POSTRETIREMENT BENEFITS 944934 ANNUITY PAYMENT LIABILITY 1962000 FEDERAL ADVANCE FOR STUDENT LOANS 6312255 TRUST LIABILITIES 287960 CAPITAL LEASE OBLIGATIONS 171999 10519879 214867520 21992444 934042 22926486 191941034 34108022 34108022 226049056 179843691 934042 934042 178909649 34108022 34108022 213017671 Schedule D, Part X, Line 2 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 V, Line 4 Intended uses of endowment funds 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. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENTAL EXPENSE RECLASS - 921250 FUNDRAISING EXPENSE RECLASS - 12792 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 34108022 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSE RECLASS - 921250 FUNDRAISING EXPENSE RECLASS - 12792 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 34108022 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THE NONDISCRIMINATION POLICY IS NOTED IN THE TRUSTEE BYLAWS, IN A BOARD APPROVED RESOLUTION, AND IN PROGRAM LITERATURE. IT IS ALSO POSTED ON THE INDWES.EDU WEBSITE. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT INDIANA WESLEYAN UNIVERSITY PARTICIPATES IN STUDENT AID PROGRAMS PROVIDED BY THE FEDERAL GOVERNMENT AND SOME GRANT PROGRAMS ADMINSTERED BY FEDERAL AGENCIES. true Central America and the Caribbean Program Services Grant Related Expenses 1500 East Asia and the Pacific Program Services Travel Expense 8417 Europe (Including Iceland and Greenland) Program Services Travel Expense 53698 North America (Canada & Mexico only) Program Services Travel Expense 26386 Russia and Neighboring States Program Services Software Expense, Conference 43382 South Asia Program Services Honorariums 1000 Sub-Saharan Africa Program Services Travel Expense 49930 Central America and the Caribbean Program Services Study Abroad/Service Learning 94418 East Asia and the Pacific Program Services Study Abroad/Service Learning 8650 Europe (Including Iceland and Greenland) Program Services Study Abroad/Service Learning 34600 Sub-Saharan Africa Program Services Study Abroad/Service Learning 63835 0 0 0 0 0 0 385816 0 385816 false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds SCHOLARSHIPS AND GRANTS TO STUDENTS ARE DETERMINED BY THE FINANCIAL AID OFFICE IN WHICH EACH STUDENT FILE IS REVIEWED IN ACCORDANCE WITH DESIGNATED ELIGIBILITY REQUIREMENTS OF THE SCHOLARSHIPS OR GRANTS. SCHOLARSHIPS AND GRANTS ARE THEN MONITORED BY DISBURSING FUNDS FROM THE FINANCIAL AID OFFICE TO THE STUDENT ACCOUNT OFFICE. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual 2024 IWU Athletic Gala 6500 6500 0 3070 47 IWU Golf Experience 38940 27700 11240 2240 2116 5319 0 45440 34200 11240 2240 5186 5366 12792 -1552 true United Way of Grant County PO Box 61 Marion IN 46952 350995975 501 C 3 15000 OPERATIONAL SUPPORT Boys and Girls Club 3402 S Meridan Street Marion IN 46952 351065247 501 C 3 10000 OPERATIONAL SUPPORT Bridges to Health 1251 West Kem Road Marion IN 46952 205405181 501 C 3 12000 OPERATIONAL SUPPORT Radiant Health 505 N Wabash Avenue Marion IN 46952 356202739 501 C 3 10000 OPERATIONAL SUPPORT Carey Services 2724 S Carey Street Marion IN 46953 350965642 501 C 3 25000 OPERATIONAL SUPPORT 5 0 Scholarships 3338 34108022 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Any scholarships or grants to students are determined by the financial aid office in which each student file is reviewed in accordance with eligibility requirements of the scholarships or grants. Scholarships and grants are then monitored by disbursing funds from the financial aid office to the student account office. X X X X true true X X X X false false false false false false false false false Dr Jonathan S Kulaga University President 300146 0 24240 0 2772 0 18180 0 47854 0 393192 0 0 0 Nancy Schoonmaker Executive VP & CFO (END 11/24) 152376 0 30294 0 2055 0 15321 0 2805 0 202851 0 0 0 Eulala (Eillen) Hulme Chancellor of National and Global 158286 0 4848 0 2170 0 3232 0 2814 0 171350 0 0 0 Kevin J Wachtel EX. DIRECTOR PARTNERSHIP DEV. & OPS. 152701 0 2897 0 1140 0 5794 0 8014 0 170546 0 0 0 Tod J Dalberg Chief Marketing Officer 135257 0 4492 0 669 0 17967 0 14468 0 172853 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE PRESIDENT HAS COUNTRY CLUB DUES PAID BY THE UNIVERSITY FOR BUSINESS ENTERTAINMENT PURPOSES. THE DUES ARE TAXABLE FOR PERSONAL USE. Schedule J, Part I, Line 1a Personal services HOUSING AND PERSONAL SERVICES FOR THE PRESIDENT IS PROVIDED BY THE UNIVERSITY AND REQUIRED BY CONTRACT. THE RESIDENCE IS CONTIGUOUS TO THE CAMPUS, THE PRESIDENT IS REQUIRED TO LIVE THERE AND IS REQUIRED TO CONDUCT UNIVERSITY RELATED BUSINESS PER HIS CONTRACT. THIS AMOUNT IS NOT INCLUDED IN TAXABLE INCOME AND IS SHOWN IN COLUMN (D) FOR JON KULAGA. A City of Marion Economic Dev Series 2016 356001102 2016-12-01 15000000 Construction false false false A 0 0 15000000 0 0 0 0 0 0 0 0 0 2007 false false true true A false false false false 0.0 0.0 0.0 false false true A false false false false true false false false true A true Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: City of Marion, Economic Dev, Series 2016 n/a NA N/A 50572 Scholarships Educational Ryan Shepherd Son of Carl Shepherd 88971 Compensated by IWU false Scott Kulaga Son of Jon Kulaga 27189 Compensated by IWU false Yamil Acevedo Husband of Yaremi Morales 211687 Compensated by IWU false Darla Gowan Sister of Diane Foley 147195 Compensated by IWU false Financial Advisory Corporation Paul Anthes Shareholder 216814 Investment Fees Exp false PIONEER COLLEGE CATERERS Substantial Contributor 5217966 Independent Contractor false SLINGSHOT LP Substantial Contributor 5056456 INDEPENDENT CONTRACTOR false Schedule L, Part IV Financial Advisory Corporation Paul Anthes serves as the president of Financial Advisory Corporation (FAC) and serves as a trustee on the board of IWU. FAC provides investment advisory services for the university endowment funds. FAC does not serve as custodian or manager of invested funds and only provides advisory services which custodian(s) and/or fund managers use. IWU receives monthly investment statements directly from the custodian of the funds independent of FAC. Additionally, the university has adopted and investment management policy and regularly reviews investment performance and asset allocation within the parameters of this policy. Finally, as an additional measure of independence, FAC receives a set fee for their services and not a percentage of the earnings on the invested funds. Paul Anthes does not serve on the investment committee of the board. Schedule L, Part IV Related Parties Carl Shepherd, Diane Foley, Yaremi Morales, and Jon Kulaga, voting members on the IWU Board of Trustees, have family members that are/have been employed by IWU during the fiscal year. X 2 47676 Market value X Apples 1 5440 Market value 0 false true true Schedule M, Part I THE AMOUNTS LISTED IN PART 1, COLUMN B ARE BASED ON THE NUMBER OF CONTRIBUTORS FOR EACH TYPE OF PROPERTY CONTRIBUTED. Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions IWU PARTNERS WITH IDONATE TO PROCESS CASH AND NONCASH CONTRIBUTIONS. Form 990, Part VI, Line 1b BOARD MEMBERS PAUL ANTHES, MICHAEL COLAW, CARL SHEPHERD, JON KULAGA, DIANE FOLEY AND YAREMI MORALES ARE NON-INDEPENDENT DUE TO INFORMATION DISCLOSED ON SCHEDULE L. UNIVERSITY PRESIDENT, JON KULAGA, IS ALSO A COMPENSATED EMPLOYEE OF INDIANA WESLEYAN UNIVERSITY. Form 990, Part VI, Line 11b Review of form 990 by governing body THE ENTIRE BOARD RECEIVES A COPY OF THE RETURN BEFORE FILING. IT IS ALSO REVIEWED BY AN INDEPENDENT CPA FIRM. Form 990, Part VI, Line 12c Conflict of interest policy 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, Line 15a Process to establish compensation of top management official 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. Form 990, Part VI, Line 15b Process to establish compensation of other employees IN TURN, KEY EMPLOYEES ARE BENCHMARKED BY THE 50TH PERCENTILE FOR THEIR DISCIPLINE. ALL OTHER COMPENSATION IS REVIEWED AND APPROVED BY EXECUTIVE EMPLOYEES. COMPENSATION IS REVIEWED UPON HIRE OF THE EMPLOYEE. Form 990, Part VI, Line 19 Required documents available to the public COPIES OF DOCUMENTS AND POLICIES CAN BE OBTAINED BY CONTACTING THE OFFICE OF THE EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL AND OPERATIONS OFFICER. Form 990, Part VIII, Line 2f Other Program Service Revenue OTHER - Total Revenue: 4110161, Related or Exempt Function Revenue: 4110161, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - 219915; CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS - 417565; IWU Holdings LLC 4201 S Washington Street Marion IN 46936 471041098 Education IN 0 0 IWU Ron Blue Institute for Financial Planning 4201 S Washington Street Marion IN 46953 473753426 Education IN 1221763 808308 IWU Wesleyan Retirement Center 4201 S Washington Street Marion IN 46953 351449080 Elder Care IN 501(c)(3) IWU true Wesleyan Church Corporation PO Box 50434 Indianapolis IN 46250 351148762 Religious Organization IN 501(c)(3) 1 NA false Independent Colleges of Indiana Inc 30 South Meridian Street Indianapolis IN 46204 310901001 Education IN 501(c)(3) NA false IWU Accelerator Inc 4201 S Washington Street Marion IN 46953 884416645 Tech Training IN 501(c)(3) 7 IWU true CRT (6) Charitable Remainder Trusts IN NA Trust false false true true false false false false false false false false false false false false false false false true Wesleyan Church Corporation C 1358858 Cash Wesleyan Retirement Center S 797047 Cash and Property Transfer IWU Accelerator Inc B 250000 Cash