Iowa Wesleyan University: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- Iowa Wesleyan University (EIN 42-0680332)
- Tax period
- 2022-06-01 to 2023-05-31
- Filed
- 2024-02-29
- IRS object ID
- 202430609349300723
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-02-29T22:10:40-05:00 | ReturnTs |
| Tax Period End | 2023-05-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 271176164 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Riverview Financial Group PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 709 1st Street Suite 3 PO Box 515 | AddressLine1Txt |
| City | Keosauqua | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52565 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-06-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420680332 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Iowa Wesleyan University | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IOWA | BusinessNameControlTxt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1570 235th Street | AddressLine1Txt |
| City | Mount Pleasant | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52641 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Robert A Miller | PersonNm |
| Person Title | Chairman | PersonTitleTxt |
| Phone | 3199313887 | PhoneNum |
| Signature | 2024-02-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Robert | PersonFirstNm |
| Person Last | Miller | PersonLastNm |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Janice S Towne | PreparerPersonNm |
| PTIN | P00770311 | PTIN |
| Phone | 3192937176 | PhoneNum |
| Preparation | 2024-02-29 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| OOB Security Verification | 00 | OOBSecurityVerificationCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | Robert Miller | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1570 235th Street | AddressLine1Txt |
| City | Mount Pleasant | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52641 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $28,421,728 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Group Exemption | 2573 | GroupExemptionNum |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | NA | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1842 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | Iowa Wesleyan University is a Transformational Learning Community whose passion is to Educate, Empower, and Inspire Students to Lead Meaningful Lives and Careers. The University is closed and operations ceased May 31, 2023. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 443 | TotalEmployeeCnt |
| Total Volunteers | 50 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,781,584 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,362,765 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $26,052,717 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $26,859,398 | CYProgramServiceRevenueAmt |
| PY Investment Income | $41,503 | PYInvestmentIncomeAmt |
| CY Investment Income | $98,245 | CYInvestmentIncomeAmt |
| PY Other Revenue | $26,050 | PYOtherRevenueAmt |
| CY Other Revenue | $36,432 | CYOtherRevenueAmt |
| PY Total Revenue | $30,901,854 | PYTotalRevenueAmt |
| CY Total Revenue | $28,356,840 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $13,094,006 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $14,084,383 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $8,652,412 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $9,047,079 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $479,587 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,339,057 | PYOtherExpensesAmt |
| CY Other Expenses | $9,725,518 | CYOtherExpensesAmt |
| PY Total Expenses | $32,085,475 | PYTotalExpensesAmt |
| CY Total Expenses | $32,856,980 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$1,183,621 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$4,500,140 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $33,894,397 | TotalAssetsBOYAmt |
| Total Assets EOY | $28,364,630 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $29,818,243 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $29,406,672 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,076,154 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$1,042,042 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Iowa Wesleyan University is a Transformational Learning Community whose passion is to Educate, Empower, and Inspire Students to Lead Meaningful Lives and Careers. The University is closed and operations ceased May 31, 2023. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $14,084,383 | ExpenseAmt |
| Grant | $14,084,383 | GrantAmt |
| Desc | Scholarship Programs for Scholarship and Grants to 693 Students. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $7,032,343 | ExpenseAmt |
| Revenue | $22,245,616 | RevenueAmt |
| Desc | The University is accredited as a Baccalaureate institution by the higher power learning commission. Student payments of tuition and service fees are used to provide the highest possible quality education at the lowest possible cost. The university enrolled 874 full and part-time students in the fall semester of 2022 and 783 students in the spring semester of 2023.The University ceased operations on May 31, 2023. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,094,023 | ExpenseAmt |
| Revenue | $4,613,782 | RevenueAmt |
| Desc | Auxillary enterprises for the benefit of the students(Residence Halls, Dining, Etc.) The university had 496 students living on campus during the fall 2022 semester. The university had 432 students living on campus during the spring 2023 semester. All students living on campus also purchased meal plans. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $5,537,339 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $29,748,088 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | Yes (true) | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (true) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 40 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 443 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Robert Miller | PersonNm |
| Phone | 3199313887 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1570 235th Street | AddressLine1Txt |
| City | Mount Pleasant | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52641 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Key EmployeeKeyEmployeeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|---|---|
| Dewayne Frazier | |||||||||
| University Provost | 50.00 | 0.00 | Yes (X) | $161,044 | $0 | $12,167 | |||
| Meg Richtman | |||||||||
| Vp of EnrollmentMarketing | 50.00 | 0.00 | $136,315 | $0 | $19,348 | Yes (X) | |||
| Derek Zander | |||||||||
| VP of Advancment | 50.00 | 0.00 | $117,729 | $0 | $19,348 | Yes (X) | |||
| Gary Shaw | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Robert Meyer | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Christopher Van Gels | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Michelle Rosell | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Christie Vilsack | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Wallace Loh | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Paul Dennison | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Jason Bender | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Elizabeth Garrels | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Denise Johnson | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Nathan Gause | |||||||||
| Trustee | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Byron Johnson | |||||||||
| Vice Chair | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | ||
| Robert Miller | |||||||||
| Chair | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | ||
| Christine Plunkett | |||||||||
| President | 50.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | ||
| Mary Elgar | |||||||||
| Secratary | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $415,088 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $50,863 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Sodexo | |||||
| 9801 Washingtonian BLVD | Gaithersburg | MD | 20878 | Food Service | $1,179,642 |
| National Managment Resources | |||||
| PO Box 1224 | Lagrange | GA | 30241 | Maintenance | $830,276 |
| SIHEA | |||||
| 1500 West Agency RD | West Burlington | IA | 52655 | Administrative Fee | $241,500 |
| Registry for College and University | |||||
| 3 Centennial Dr | Peabody | MA | 01961 | Consulting | $333,000 |
| EAB | |||||
| 1920 East Parham RD | Henrico | VA | 23228 | Consulting | $285,835 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $167,222 | GovernmentGrantsAmt |
| All Other Contributions | $1,195,543 | AllOtherContributionsAmt |
| Noncash Contributions | $64,888 | NoncashContributionsAmt |
| Total Contributions | $1,362,765 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| Tuition and Fees | 611600 | $22,245,616 | $22,245,616 | |
| Room and Board | 721310 | $4,133,389 | $4,133,389 | |
| Misc Fees | 900099 | $286,971 | $286,971 | |
| Bookstore | 900099 | $193,422 | $193,422 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $26,859,398 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $100,385 | TotalRevenueColumnAmt |
| Exclusion | $100,385 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $36,432 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $36,432 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,432 | TotalRevenueColumnAmt |
| Exclusion | $36,432 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $62,748 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $64,888 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$2,140 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$2,140 | TotalRevenueColumnAmt |
| Exclusion | -$2,140 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $28,356,840 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $22,245,616 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,748,459 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,084,383 | TotalAmt |
| Program Services | $14,084,383 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $632,160 | TotalAmt |
| Program Services | $305,310 | ProgramServicesAmt |
| Management And General | $171,148 | ManagementAndGeneralAmt |
| Fundraising | $155,702 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,516,324 | TotalAmt |
| Program Services | $6,171,632 | ProgramServicesAmt |
| Management And General | $190,387 | ManagementAndGeneralAmt |
| Fundraising | $154,305 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,384,583 | TotalAmt |
| Program Services | $1,200,533 | ProgramServicesAmt |
| Management And General | $143,014 | ManagementAndGeneralAmt |
| Fundraising | $41,036 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $514,012 | TotalAmt |
| Program Services | $463,073 | ProgramServicesAmt |
| Management And General | $28,700 | ManagementAndGeneralAmt |
| Fundraising | $22,239 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,381 | TotalAmt |
| Management And General | $28,381 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,230 | TotalAmt |
| Management And General | $82,230 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,242 | TotalAmt |
| Program Services | $15,637 | ProgramServicesAmt |
| Management And General | $54,605 | ManagementAndGeneralAmt |
| Fundraising | $18,000 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,055 | TotalAmt |
| Program Services | $10,648 | ProgramServicesAmt |
| Management And General | $57,293 | ManagementAndGeneralAmt |
| Fundraising | $114 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,440 | TotalAmt |
| Program Services | $16,827 | ProgramServicesAmt |
| Management And General | $24,367 | ManagementAndGeneralAmt |
| Fundraising | $12,246 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $988,814 | TotalAmt |
| Program Services | $943,379 | ProgramServicesAmt |
| Management And General | $45,435 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $430,631 | TotalAmt |
| Program Services | $419,978 | ProgramServicesAmt |
| Management And General | $5,991 | ManagementAndGeneralAmt |
| Fundraising | $4,662 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,354 | TotalAmt |
| Program Services | $43,848 | ProgramServicesAmt |
| Management And General | $1,506 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,871 | TotalAmt |
| Program Services | $362,808 | ProgramServicesAmt |
| Management And General | $27,308 | ManagementAndGeneralAmt |
| Fundraising | $14,755 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,097,178 | TotalAmt |
| Program Services | $1,009,404 | ProgramServicesAmt |
| Management And General | $76,802 | ManagementAndGeneralAmt |
| Fundraising | $10,972 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $571,480 | TotalAmt |
| Program Services | $76,418 | ProgramServicesAmt |
| Management And General | $495,062 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Food ServiceMaintenance Con | $2,134,405 | $2,134,405 | ||
| Contract Services | $1,684,186 | $1,001,966 | $660,424 | $21,796 |
| Membership Dues | $461,977 | $385,258 | $76,719 | |
| Supplies | $691,339 | $624,956 | $51,925 | $14,458 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $894,935 | TotalAmt |
| Program Services | $477,625 | ProgramServicesAmt |
| Management And General | $408,008 | ManagementAndGeneralAmt |
| Fundraising | $9,302 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,856,980 | TotalAmt |
| Program Services | $29,748,088 | ProgramServicesAmt |
| Management And General | $2,629,305 | ManagementAndGeneralAmt |
| Fundraising | $479,587 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,681 | BOYAmt |
| EOY | $63,161 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $555,421 | BOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,461,275 | BOYAmt |
| EOY | $416,071 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $316,720 | BOYAmt |
| EOY | $20,660 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,919 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $339,113 | BOYAmt |
| EOY | $5,000 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $45,695,002 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $27,422,289 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,103,508 | BOYAmt |
| EOY | $18,272,713 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,338,629 | BOYAmt |
| EOY | $769,285 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,717,131 | BOYAmt |
| EOY | $8,817,740 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,894,397 | BOYAmt |
| EOY | $28,364,630 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,300,712 | BOYAmt |
| EOY | $3,262,400 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $140,366 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,127,618 | BOYAmt |
| EOY | $26,033,714 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $249,547 | BOYAmt |
| EOY | $110,558 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,818,243 | BOYAmt |
| EOY | $29,406,672 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$16,588,433 | BOYAmt |
| EOY | -$21,088,573 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,664,587 | BOYAmt |
| EOY | $20,046,531 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,076,154 | BOYAmt |
| EOY | -$1,042,042 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,894,397 | BOYAmt |
| EOY | $28,364,630 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$4,500,140 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$461,143 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$156,913 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | false | FSAuditedInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | General Explanation Attachment | FormAndLineReferenceDesc |
| Explanation | In March, 2023, The university announced effective May 31, 2023, it would no longer provide higher education services and that effective May 31, 2023, it would cease operations. All of the employees were released on that date and the board of trustees will be involved during the fiscal year of 2024 in the liquidation, termination, and dissolution of the university, which will include the disposition of all assets. As part of the process, no assets were disposed of prior to May 31, 2023. From a practical standpoint, all of the assets are subject to the collateral terms of the credit agreements with the USDA and Two Rivers Bank and any proceeds from the disposition of the assets will go to those creditors. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Coll Used Scholarly Rsrch | Yes (X) | CollUsedScholarlyRsrchInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Solicited Assets Sale | false | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $16,811,500 | BeginningYearBalanceAmt |
| Contributions | $124,572 | ContributionsAmt |
| Investment Earnings Or Losses | -$156,913 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $16,779,159 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $16,134,739 | BeginningYearBalanceAmt |
| Contributions | $1,131,270 | ContributionsAmt |
| Investment Earnings Or Losses | -$426,727 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $27,782 | OtherExpendituresAmt |
| End Year Balance | $16,811,500 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $14,897,098 | BeginningYearBalanceAmt |
| Contributions | $17,334 | ContributionsAmt |
| Investment Earnings Or Losses | $1,275,309 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $55,002 | OtherExpendituresAmt |
| End Year Balance | $16,134,739 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $15,082,077 | BeginningYearBalanceAmt |
| Contributions | $99,861 | ContributionsAmt |
| Investment Earnings Or Losses | -$104,840 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $180,000 | OtherExpendituresAmt |
| End Year Balance | $14,897,098 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $15,268,043 | BeginningYearBalanceAmt |
| Contributions | $47,335 | ContributionsAmt |
| Investment Earnings Or Losses | -$23,301 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $210,000 | OtherExpendituresAmt |
| End Year Balance | $15,082,077 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prmnnt Endowment Balance EOY | 1.00000 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (true) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $373,117 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $363,026 | OtherCostOrOtherBasisAmt |
| Book Value | $736,143 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,076,693 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $32,711,524 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,174,749 | DepreciationAmt |
| Book Value | $16,613,468 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $845,419 | OtherCostOrOtherBasisAmt |
| Depreciation | $772,057 | DepreciationAmt |
| Book Value | $73,362 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,526,426 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,677,293 | DepreciationAmt |
| Book Value | $849,133 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $798,797 | OtherCostOrOtherBasisAmt |
| Depreciation | $798,190 | DepreciationAmt |
| Book Value | $607 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,272,713 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Beneficial Interest-Perpetual Trust | $6,628,457 |
| Collections | $704,824 |
| Property Held for Sale | $360,000 |
| Mineral Rights | $310,000 |
| Debt Service Fund | $296,545 |
| Cash Surrender Value of Life Ins | $276,750 |
| Refundable Govt Loan Program | $241,164 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $8,817,740 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Annuity obligations | Desc |
| Amt | $110,558 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $110,558 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Collections descriptions (Part III, line 4) | The universitys fine art collection including drawings, paintings, furniture, and sculptures are maintained for purposes of scholarly research, public exhibits,and preservation for future generations. |
| Endowment funds intended uses (Part V, line 4) | Endowment funds are invested and the revenue of such is used primarily to fund grants and scholarships to qualified students of the university. |
| Other revenues not included on Form 990 (Part XI, line 2d) | Change in Benificial intrest in trust -$156,931 |
| Other revenues included on Form 990 (Part XI, line 4b) | Scholarships and Grants netted Value $14,084,383 |
| Other expenses included on Form 990 (Part XII, line 4b) | Scholarships and Grants netted Revenue $14,084,383 |
| Footnote for uncertain tax position under FIN 48 (Part X) | the university is exempt from federal income tax as desrcibed in section 501(C)(3) of the internal revenue code. The university is subject to routine audits by taxing jurisdictions:however, there are currently no audits for any tax periods in progress. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (true) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Governmental Agency Financial Aid (Questions 6a and 6b) | FormAndLineReferenceDesc |
| Explanation | The orginization Receives student Finacial assistance through the department of education. The following student finacial assistance programs are administered through the university:Direct Student Loans, pell Grants, Supplemental Educational oppurtunity grants, work-study, and perkins Loans. For the year ended May 31, 2023 the Orginization had $5,813,058 in Federal Expenditures related to those programs.For the year ended May 31, 2023, The university also recieved Direct awards under the Education Stabilization fund in the amount of $550,087. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| Federal Supplemental Education | 203 | $74,513 |
| Institutional Scholarships | 693 | $14,009,870 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Monitoring procedures (Part I, line 2) | FormAndLineReferenceDesc |
| Explanation | Procedures for Monitoring the Use of grant fundsThe university has a finacial aid department whose staff is trained and continuously educated regarding federal financial aid rules and regulations. The staff of the university determines the financial need of the student and determines the amount of financial assistance that can be awarded to the student based on federal rules and regulations. The financial aid staff also awards grants and scholarships based on endowed gifts that comply with the terms of the endowed gifts. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|
| Dewayne Frazier | |||
| University Provost | $161,044 | $12,167 | $173,211 |
| Meg Richtman | |||
| Vp of EnrollmentMarketing | $136,315 | $19,348 | $155,663 |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 3 | ContributionCnt |
| Noncash Contributions Rpt F990 | $64,888 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | false | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (true) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Third party arrangements (Part I, line 32b) | FormAndLineReferenceDesc |
| Explanation | The University uses an independent broker to sell securities Received as a noncash contribution. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Management duties delegation Part VI line 3 | Iowa Wesleyan University Paid the registry for college and University for contracted services as the President for the university. Chirs Plunkett received compensation of $330,000 for her role as president for Iowa Wesleyan University During the Calander Year. |
| Form 990 governing body review Part VI line 11 | Line 11B- Orginizations Proccess to Reveiw form 990 While any Board Member may request a copy of the form 990 at any time, all of the members are not asked to review a draft prior to filing. The audit commitee reviews the results of the audit with managment and the outside auditor. As the finacial information reflected in the auditedd financial statements is utilized in the form 990, the audit comitee requires the director of finance to reconcile the financial information reflected in the form 990 audited financial statements. Any exceptions noted by the director of Finance are to be brought to the attention of the president and chair of the audit comitee. The chair of the audit comitee reviews the entire draft of the form 990 and discusses any questions or concerns from the review. |
| Conflict of interest policy compliance Part VI line 12c | The university trustees voluntarily report conflicts and abstain from voting on issues in which conflicts exist. |
| CEO executive director top management comp Part VI line 15a | Salaries are determined by the comparisons with appropriate benchmarking surveys and avalible resources. The review comitee meets to review the presidents salary. |
| Other officer or key employee compensation Part VI line 15b | Salaries are determined by comparisons with appropriate benchmarking surveys and avalible resources. |
| Governing documents etc available to public Part VI line 19 | The documents are provided to the board and avalible to anyone else upon request. |
| Explanation of other changes in net assets or fund balances Part XI line 9 | Change in Benificial Interests in Trust -$156,913Scholarships and Grants netted revenue -$14,084,383Sholarships and Grants netted revenue $14,084,383 Total -$156,913 |
| Part III response or note to any other line in Part III | Line 4D Student Services , Including student development, acedemic and career counseling, athletics, financial assistance and other services, was provided to 874 full and part time students in the fall semester of 2022 and 783 students in the spring semester of 2023. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IW Real Estate Foundation LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 North Main Street | AddressLine1Txt |
| City | Mount Pleasant | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52641 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 811054775 | EIN |
| Primary Activities | Part VII | PrimaryActivitiesTxt |
| Legal Domicile State | IA | LegalDomicileStateCd |
| End Of Year Assets | $17,490,606 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Part VII | BusinessNameLine1Txt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Explanation of information on Schedule R | FormAndLineReferenceDesc |
| Explanation | Line 1 Column (B)The primary activity of the company is to aquire and own real estate and other property for the exclusive use of the sole member and to accept gifts and contributions to be distributed to or for the benifit of the sole member. Line 1 Column (E)The company owns substantially all of the real estate used by the university. Line 1 Column(F)The sole member of the company is Iowa Wesleyan University. | ExplanationTxt |