2025-11-11T15:10:55+00:00 2025-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2024-07-01 350885591 INDIANA WESLEYAN UNIVERSITY INDI 7656772947 4201 S WASHINGTON STREET MARION IN 46953 JEFFREY RAYIS CFO 7656772947 2025-11-11 true true Lauren Denton P01571860 2604604000 2025-11-11 2024 2025-03-06 01:10:19Z JEFFREY RAYIS 4201 S WASHINGTON STREET MARION IN 46953 330635193 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 19 3690 435 0 15552084 46026574 197491436 209483591 12303726 12641321 701810 939490 226049056 269090976 34180022 38011312 0 92872071 100631535 0 2664669 85965578 84441197 213017671 223084044 13031385 46006932 614595507 685685861 59305420 60011177 555290087 625674684 INDIANA WESLEYAN UNIVERSITY IS A CHRIST-CENTERED ACADEMIC COMMUNITY COMMITTED TO CHANGING THE WORLD BY DEVELOPING STUDENTS IN CHARACTER, SCHOLARSHIP, AND LEADERSHIP. false false 197437231 38011312 209483591 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. 197437231 true true false false false false false false false true true false false false true false false true true false true false false false false 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 21345 0 3690 true false false false false false true true false false false false false false X 26 19 false false false false false false false true true false false false true true true true true true true true false false IN X JEFFREY RAYIS 7656772947 4201 S WASHINGTON STREET MARION IN 46953 Jonathan S Kulaga University President 39.0 1.0 X X 318645 0 135902 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 1.0 0.0 X 0 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 Gary Ott Trustee 1.0 0.0 X 0 0 0 James Poore II Trustee (End 12/31/24) 1.0 0.0 X 0 0 0 Jeffrey Freeman Trustee (End 12/9/24) 1.0 0.0 X 0 0 0 Johanna Rugh Trustee 1.0 39.0 X 0 115192 18196 Kent Morgan Trustee (Beg 5/7/25) 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 (End 3/31/25) 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 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 Trey Rohrman Trustee (Beg 5/7/25) 1.0 0.0 X 0 0 0 Wayne Schmidt Trustee 1.0 39.0 X 0 214246 24539 Yaremi Alicea Morales Trustee (End 5/5/25) 1.0 0.0 X 0 0 0 Jeff Rayis CFO (Beg 7/8/24) 40.0 0.0 X 105266 0 25940 Tiffany Lewis Interim CFO (End 7/7/24) 40.0 0.0 X 124505 0 29036 Eulala Eileen Hulme Chancellor of National Global 39.0 1.0 X 171052 0 30930 Greg Tonagel Head Coach, Men's Basketball 40.0 0.0 X 169761 0 32735 Karen Dowling Exec VP/Chief People & Culture Officer 40.0 0.0 X 147929 0 31892 Robert Friberg Professor/Program Director, DPT 40.0 0.0 X 149817 0 48834 Tod Dalberg EVP/Chief Innovation & Strategy Officer 40.0 0.0 X 164853 0 80675 Warren Rogers Professor, Blanchard Endowed Chair 40.0 0.0 X 145717 0 23714 1497545 329438 482393 77 false true false Google LLC PO Box 883654 Los Angeles CA 90088 Advertising Services 6860127 Slingshot LP 1500 S Western Ave Marion IN 46953 Bookstore 5565424 Pioneer College Caterers 303 Glenrose Avenue Nashville TN 37210 Food Service 5164518 EchoPoint Media 407 Fulton St Indianapolis IN 46202 Media Services 4408693 Vesta Technology Solutions LLC PO Box 11362 Zephyr Cove NV 89448 Recruitment 4027200 76 1294608 4447796 40284170 512100 46026574 TUITION AND FEES 900099 183625486 183625486 FOOD SERVICE 451211 9299122 9299122 RESIDENCE HALLS 721310 10009845 10009845 CONFERENCES 721310 1719526 1719526 BOOKSTORE 900099 868019 868019 3961593 3961593 0 0 209483591 12774037 12774037 1987942 1048452 939490 0 939490 939490 60363049 60495765 -132716 0 -132716 -132716 0 0 0 0 0 0 269090976 209483591 0 13580811 73000 73000 37938312 37938312 1019108 1019108 483615 483615 78625558 70593338 6769938 1262282 4072856 3167723 778905 126228 10792402 9073694 1536987 181721 5637996 4945569 595862 96565 130840 130840 66410 66410 251003 251003 5859536 4171700 1450927 236909 23933235 22913964 816615 202656 6874765 5726698 1011067 137000 7238159 1825680 5319505 92974 7895533 7384536 510997 5983963 5216780 459578 307605 364051 253386 89936 20729 691144 647533 43611 13560967 12705270 855697 1275158 1275158 Food Service 5164518 5164518 Uncollectible Accounts 2282288 2282288 Recruitment Services 1902695 1902695 Grant Related Contracts 966932 966932 0 0 0 0 223084044 197437231 22982144 2664669 17976 30818 10683705 43782803 586215 3921230 14068171 12732510 0 0 0 0 3759013 3059156 3388596 5308949 416684835 189402888 222129210 227281947 347693787 377093568 0 0 12268834 12474880 614595507 685685861 23257343 24660510 10562178 10154711 14966020 14978762 0 0 10519879 10217194 59305420 60011177 X 443861795 476628158 111428292 149046526 555290087 625674684 614595507 685685861 X 46006932 23872046 505619 X false true true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 288632986 2800006 31371508 10445702 0 2444656 309914142 265768494 2560551 30402545 7540638 0 2557966 288632986 229901931 25716263 21871181 11720881 0 0 265768494 268508114 2343292 -33754228 7195247 0 0 229901931 201367949 6551964 67446885 6858684 0 0 268508114 0.679 0.209 0.112 true false 24116064 24116064 360704871 166697195 194007676 31863896 22705693 9158203 4 0 4 227281947 Federal Income Taxes REFUNDABLE DEPOSITS & SECURITY 772320 ACCUM POSTRETIREMENT BENEFITS 804410 ANNUITY PAYMENT LIABILITY 2162522 FEDERAL ADVANCE FOR STUDENT LOANS 6164937 TRUST LIABILITIES 281291 CAPITAL LEASE OBLIGATIONS 31714 10217194 256073162 23872046 1048452 24920498 231152664 37938312 37938312 269090976 186194184 1048452 1048452 185145732 37938312 37938312 223084044 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 - 1048452 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 37938312 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSE RECLASS - 1048452 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 37938312 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 Europe (Including Iceland and Greenland) 0 0 Program Services Travel Expense 221222 North America (Canada & Mexico only) 0 0 Program Services Mascot, Subscriptions, Travel 28760 Sub-Saharan Africa 0 0 Program Services Travel Expense 33010 Central America and the Caribbean 0 0 Program Services Study Abroad/Service Learning 15771 East Asia and the Pacific 0 0 Program Services Travel Expenses 8383 South America 0 0 Program Services Travel Expense 330 Russia and Neighboring States 0 0 Program Services Honorariums 625 0 0 0 0 0 0 308101 0 308101 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; SOUTH AMERICA-Accrual; SUB-SAHARAN AFRICA-Accrual true Radiant Health 505 N Wabash Ave Marion IN 46952 356202739 501 C 3 10000 Annual campaign support Bridges to Health 119 S Washington St Marion IN 46952 205405181 501 C 3 12000 Healthcare services to uninsured residents of Grant County Boys & Girls Club of Grant County 3402 S Meridian St Marion IN 46953 351065247 501 C 3 10000 Expand academic support and tutoring services, especially in reading and math; enhance youth leadership and character-building programs; provide healthy meals and snacks for club members; support transportation needs to ensure all youth can access the program safely; invest in staff training and development to ensure the highest quality of care St Martin Community Center 901 S Branson St Marion IN 46953 351696367 501 C 3 5000 Meals, pantry items, and essential resources to residents of Grant County Youth for Christ PO Box 431 Bluffton IN 46714 351837273 501 C 3 5000 BIGJAWs chapter wide silver sponsor Circles of Grant County 1240 S Adams St Marion IN 46953 463130471 501 C 3 5000 Updated office technology; meals for Tuesday night program; Circle Leader orientation & supplies; educational toys, books, and supplies for youth development activities Convoy of Hope 1 Convoy Drive Springfield MO 65802 680051386 501 C 3 5000 California wildfire response efforts United Way of Grant County INC 215 South Adams St Marion IN 46952 350995975 501 C 3 15000 Day of Action campaign support Marion Public Library Foundation 600 S Washington St Marion IN 46953 844033363 501 C 3 6000 Story Walk installation at Matter Park 9 0 Scholarships 4307 37938312 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 Jonathan S Kulaga University President 303632 0 12241 0 2772 0 43344 0 92558 0 454547 0 0 0 Wayne Schmidt Trustee 0 212560 0 1686 0 0 0 24539 0 0 0 238785 0 0 Tiffany Lewis Interim CFO (End 7/7/24) 99382 0 4040 0 21083 0 12960 0 16076 0 153541 0 0 0 Eulala Eileen Hulme Chancellor of National Global 162297 0 6529 0 2226 0 13229 0 17701 0 201982 0 0 0 Tod Dalberg EVP/Chief Innovation & Strategy Officer 156607 0 6724 0 1522 0 34467 0 46208 0 245528 0 0 0 Greg Tonagel Head Coach, Men's Basketball 104043 0 4242 0 61476 0 16659 0 16076 0 202496 0 0 0 Robert Friberg Professor/Program Director, DPT 136156 0 5524 0 8137 0 29532 0 19302 0 198651 0 0 0 Karen Dowling Exec VP/Chief People & Culture Officer 115109 0 4395 0 28425 0 14473 0 17419 0 179821 0 0 0 Warren Rogers Professor, Blanchard Endowed Chair 100016 0 3639 0 42062 0 12011 0 11703 0 169431 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 false false 0.0 0.0 0.0 false false 0 false true A false false false false true false 0 false false false 0 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 46754 Scholarships Educational Ryan Shepherd Son of Carl Shepherd 92320 Compensated by IWU false Yamil Acevedo Husband of Yaremi Morales 239485 Compensated by IWU false Darla Gowan Sister of Diane Foley 151810 Compensated by IWU false Financial Advisory Corporation Paul Anthes Shareholder 227597 Investment Fees Exp false PIONEER COLLEGE CATERERS Substantial Contributor 5164518 Independent Contractor false SLINGSHOT LP Substantial Contributor 5565424 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 (End Date 5/5/25), and Jon Kulaga, are/were voting members on the IWU Board of Trustees, have family members that are/have been employed by IWU during the fiscal year. 7 175173 Selling cost 1 299000 Opinions of experts X Commodity 2 35827 Selling cost X Instrument 1 2100 Opinions of experts 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 SLATE TO PROCESS CASH AND NONCASH CONTRIBUTIONS. Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - Number of Contributions Real estate - Residential - Number of items received Other - Commodity Number Other - Instrument Number of Items received Form 990, Part VI, Line 1b BOARD MEMBERS PAUL ANTHES, MICHAEL COLAW, CARL SHEPHERD AND DIANE FOLEY ARE NON-INDEPENDENT DUE TO INFORMATION DISCLOSED ON SCHEDULE L. UNIVERSITY PRESIDENT, JON KULAGA, IS ALSO A COMPENSATED EMPLOYEE OF INDIANA WESLEYAN UNIVERSITY. JOHANNA RUGH AND WAYNE SCHMIDT ARE COMPENSATED EMPLOYEES OF THE WESLEYAN CHURCH. 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: 3961593, Related or Exempt Function Revenue: 3961593, 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 - 101595; CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS - 404024; Total - 505619; 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 1211141 550572 IWU 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 1254405 Cash IWU Accelerator Inc B 173250 Cash IWU Accelerator Inc S 63750 Cash