2015-04-09T08:29:03-07:00 2014-05-31 TD&T CPAs and Advisors PC 317 HIGH AVE E OSKALOOSA IA 525772823 990 2013-06-01 420680332 IOWA WESLEYAN COLLEGE IOWA 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 SHANE DOLOHANTY CFO 2015-04-07 true Joseph B Ryan CPA P00769873 6416722523 2013 2016-03-07 17:11:31Z 23682488 false false 2573 X WWW.IWC.EDU X 1842 IA The mission of Iowa Wesleyan College is to prepare students to succeed in a changing global environment. Iowa Wesleyan is a four year liberal arts college providing quality individualized learning experiences that combine the development of the intellect with adaptive life skills. The college is affiliated with the United Methodist Church with which it shares a commitment to spiritual values, social justice and human welfare. 36 29 419 50 0 2141899 1753367 15178233 14379539 352503 374748 52725 65663 17725360 16573317 5269717 4870932 0 8013375 7554198 0 327835 6895965 7002726 20179057 19427856 -2453697 -2854539 44047467 44226839 16205508 18629275 27841959 25597564 X The mission of Iowa Wesleyan College is to prepare students to succeed in a changing global environment. Iowa Wesleyan is a four year liberal arts college providing quality individualized learning experiences that combine the development of the intellect with adaptive life skills. The college is affiliated with the United Methodist Church with which it shares a commitment to spiritual values, social justice and human welfare. false false 7848696 11944713 THE COLLEGE IS ACCREDITED AS A BACCALAUREATE INSTITUTION BY THE NORTH CENTRAL ASSOC. OF COLLEGES AND UNIVERSITIES. STUDENT PAYMENTS OF TUITION AND SERVICE FEES ARE USED TO PROVIDE THE HIGHEST POSSIBLE QUALITY EDUCATION AT THE LOWEST POSSIBLE COST. THE COLLEGE HAD 1,131 FULL AND PART TIME STUDENTS ENROLLED DURING THE FALL AND SPRING SEMESTERS. 4808900 4808900 SCHOLARSHIP PROGRAMS FOR SCHOLARSHIPS AND GRANTS TO 663 STUDENTS. 2541442 STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNSELING, INTERCOLLEGIATE ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 1,131 FULL AND PART TIME STUDENTS. 1225779 16424817 true true false false false false false true false true true false false true true true true false true false false false false false false false false false true false true false true true false false false false false false false true true false false false false false false false false true 25 0 true 419 true false false false false false false false false 0 false false false false false false false false false false X 36 29 true false false false false false false true true false false false true true true true true true true false X SHANE DOLOHANTY 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 DEBORAH STOWERS Trustee 1.00 0.00 X 0 0 0 KATHY NELLOR Trustee 1.00 0.00 X 0 0 0 W CHRISTINE RAUSCHER Trustee 1.00 0.00 X 0 0 0 ANNETTE SCIESZINSKI Trustee 1.00 0.00 X 0 0 0 MARY ELGAR Secretary 1.00 0.00 X X 0 0 0 JAMARCO CLARK STUDENT REP 1.00 0.00 X 0 0 0 RICHARD FERGUSON STU. AFR. CHAIR 1.00 0.00 X X 0 0 0 ANN KLINGENSMITH FACULTY REP 1.00 0.00 X 0 0 0 JOY ANDERSON Trustee 1.00 0.00 X 0 0 0 JOHN BADGER Trustee 1.00 0.00 X 0 0 0 JOHN CAVANAH ACD. AFR. CHAIR 1.00 0.00 X X 0 0 0 JAMES BROCKWAY Trustee 1.00 0.00 X 0 0 0 ELIZABETH GARRELS Trustee 1.00 0.00 X 0 0 0 WALLACE LOH Trustee 1.00 0.00 X 0 0 0 WINIFRED THOMAS Trustee 1.00 0.00 X 0 0 0 STEVE HEDLUND Trustee 1.00 0.00 X 0 0 0 BYRON JOHNSON FINANCE CHAIR 1.00 0.00 X X 0 0 0 DAVID MCCOID Trustee 1.00 0.00 X 0 0 0 MICK MICHAEL Trustee 1.00 0.00 X 0 0 0 MICHAEL MORGAN VICE CHAIRMAN 1.00 0.00 X X 0 0 0 VINCENT NACCARATO Trustee 1.00 0.00 X 0 0 0 RANDALL PERRY CHR CHURCH REL 1.00 0.00 X X 0 0 0 JASON KIESEY Trustee 1.00 0.00 X 0 0 0 KENNETH ROYAR Trustee 1.00 0.00 X 0 0 0 JD SCHIMMDELPFENNIG Trustee 1.00 0.00 X 0 0 0 GARY SHAW Trustee 1.00 0.00 X 0 0 0 HUGH STAFFORD MARKETING CHAIR 1.00 0.00 X X 0 0 0 DAVID STANLEY Trustee 1.00 0.00 X 0 0 0 KENT SWAIM Trustee 1.00 0.00 X 0 0 0 LILIAN SEAGREN Trustee 1.00 0.00 X 0 0 0 RANDALL PERRY Trustee 1.00 0.00 X 0 0 0 THEODORE ROTH Trustee 1.00 0.00 X 0 0 0 DON WILEY Chairman 1.00 0.00 X X 0 0 0 LORI WILLIAMS-WRIGHT Trustee 1.00 0.00 X 0 0 0 JULIUS TRIMBLE Trustee 1.00 0.00 X 0 0 0 CHRISTOPHER VAN GELS Trustee 1.00 0.00 X 0 0 0 JAY K SIMMONS PAST President 50.00 0.00 X 86900 0 14087 PHYILLIS WHITNEY SR VP & CFO 50.00 0.00 X 126467 0 19733 LINDA BUCHANAN DEAN OF STUDENT 50.00 0.00 X 101284 0 10619 CAROL NEMITZ SP ASST TO PRES 40.00 0.00 X 13000 0 0 JERRY THOMAS PAST VP 50.00 0.00 X 66667 0 14067 JEFFREY FAGER PAST VP 50.00 0.00 X 73802 0 14622 STEVEN TITUS President 50.00 0.00 X 108930 0 14066 MEG RICHTMAN VP INST. RELATI 50.00 0.00 X 38230 0 178 SCOTT BRIELL SR. VP ENROLLME 50.00 0.00 X 0 0 0 615280 87372 3 false false false US BANK PO BOX 790408 ST LOUIS MO 63179 CREDIT CARD 299323 REGISTRY FOR COLLEGE AND UNIVERSITY 3 CENTENNIAL DRIVE PEABODY MA 01960 TEMPORARY STAFFING 189714 MBS DIRECT PO BOX 597 COLUMBIA MO 65205 ON-LINE BOOKSTORE 124958 SODEXHO AMERICA 601 N MAIN MT PLEASANT IA 52641 FOOD SERVICE 691430 NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGR GA 30241 MAINTENANCE 740780 7 122305 1631062 52631 1753367 BOOKSTORE 451211 223113 223113 FINANCE CHARGE 900099 25201 25201 MISC FEES 900099 128242 128242 ROOM & BOARD 721310 2058270 2058270 TUITION AND FEES 611600 11944713 11944713 14379539 358130 358130 0 0 65663 65663 65663 65663 7124069 1720 7109171 14898 1720 16618 16618 0 0 0 0 16573317 11944713 2875237 0 4870932 4870932 0 0 692007 143752 419968 128287 0 5214203 4547920 586235 80048 79336 57744 17942 3650 1067629 848085 181885 37659 501023 324313 161214 15496 0 76859 76859 59640 59640 0 0 0 31173 5360 25813 66783 54024 12122 637 0 0 0 774067 754837 13418 5812 265189 193920 55428 15841 0 32215 27181 5034 672768 618946 47094 6728 0 1065691 980436 74598 10657 319216 98385 220831 FOOD SERVICE CONTRACT 1551966 1551966 CONTRACTED SERVICES 792839 632304 160535 SUPPLIES 571777 498899 68211 4667 Printing and Publications 195138 70727 117765 6646 527405 145086 370612 11707 19427856 16424817 2675204 327835 1848 1546 2765146 2559987 10000 573625 169084 126161 0 0 501389 425917 0 340573 329146 41795281 18128133 24405708 23667148 9249787 9823946 0 0 0 6603932 6719363 44047467 44226839 1227037 1217556 128638 86423 250495 123830 11563090 11190449 2730354 5768778 305894 242239 16205508 18629275 X 10854640 7433678 3062843 3371017 13924476 14792869 27841959 25597564 44047467 44226839 X -2854539 410830 199314 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18638 704794 X X X false 13386500 651392 921525 467356 14492061 12534095 672148 1098605 918348 13386500 12297104 968928 -731937 12534095 10680370 178149 1627323 188738 12297104 9600145 340197 925705 185677 10680370 1.00000 true false false 363027 363027 58150 31774944 10088095 21744999 845419 615955 229464 7954944 6673406 1281538 798797 750677 48120 23667148 BENEFICIAL INTEREST IN PERPETUAL TR 4058725 CASH RESTRICTED FOR CONSTRUCTION COLLECTIONS 704794 PROPERTY HELD FOR SALE 172881 UNAMORTIZED LOAN COSTS 276368 6719363 ANNUITY OBLIGATIONS 221289 STUDENT DEPOSITS 20950 242239 X 12205504 410830 7699 22558 441087 11764417 4808900 4808900 16573317 14626655 7699 7699 14618956 4808900 4808900 19427856 Part III, Line 4: Description of organization's collections and how it furthers its purpose. THE COLLEGE'S FINE ART COLLECTION INCLUDES DRAWINGS, PAINTINGS, FURNITURE AND SCULPTURES THAT ARE MAINTAINED FOR PURPOSES OF SCHOLARLY RESEARCH, PUBLIC EXHIBITS AND PRESERVATION FOR FUTURE GENERATIONS. Part V, Line 4: Intended uses of the endowment fund. ENDOWMENT FUNDS ARE INVESTED AND THE REVENUE OF SUCH IS USED PRIMARILY TO FUND GRANTS AND SCHOLARSHIPS TO QUALIFIED STUDENTS OF THE COLLEGE. Part X : FIN48 Footnote The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to the year ended May 31, 2011. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 CHANGE IN SPLIT INT AGREEMENTS $22558 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S SCH AND GRANTS NETTED REVENUE $4808900 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S SCH AND GRANTS NETTED REVENUES $4808900 true true true true true true true false false false false false false false false true false true Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency THE ORGANIZATION RECEIVES STUDENT FINANCIAL ASSISTANCE THROUGH THE DEPARTMENT OF EDUCATION. THE FOLLOWING PROGRAMS ARE ADMINISTERED THROUGH THE COLLEGE: DIRECT STUDENT LOANS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, WORK-STUDY, PERKINS LOANS, AND TEACH GRANTS. FOR THE YEAR ENDED MAY 31, 2014, THE ORGANIZATION HAD $5,285,182 IN FEDERAL EXPENDITURES RELATES TO THE PROGRAMS. Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NONDISCRIMINATION POLICY NOTED IN ALL PUBLIC ADVERTISING, COLLEGE CATALOGS AND FINANCIAL AID LITERATURE Schedule E, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race true 0 0 FEDERAL SUPPLEMENTAL EDUC OPPOR GRANTS 166 82787 INSTITUTION SCHOLARSHIPS AND GRANTS 443 4788145 Grantmaker's Description of How Grants are Used THE COLLEGE HAS A FINANCIAL AID DEPARTMENT WHOSE STAFF IS TRAINED AND CONTINUOUSLY EDUCATED REGARDING FEDERAL FINANCIAL AID RULES AND REGULATIONS. THE STAFF OF THE COLLEGE 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. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460LJ3 2006-05-01 5750000 FINANCE CAMPUS IMPROVEMENTS AND ADVANCE REFUNDING false false B CITY OF MT PLEASANT IA 426004995 2011-05-05 7000000 CAMPUS IMPROV & REFIN DEBT false false C IOWA HIGHER EDUCATION LOA 421235696 462460L13 2000-03-15 3942410 PARTIAL FUND AND STUD ACTV CTR true true false A 5750000 364455 3780000 210000 1386328 false true true true B 7000000 112100 5318839 1569061 false false false true C 4000000 2272417 80000 120000 1673507 false true true true A false false false false false true B false false false false false true C false false false false false true A false false false false true B false false false false false false true C true false false false DON WILEY SCHEDULE O 105691 SEE SCHEDULE O false DON WILEY SCHEDULE O 1500000 SEE SCHEDULE O false DON WILEY SCHEDULE O 2750000 SEE SCHEDULE O false X 1 5000 FAIR MARKET X 2008 FAIR MARKET X 5 12214 FAIR MARKET X 1 12410 FAIR MARKET X 6 1828 FAIR MARKET X SOFTBALL TEAM EXPENSE 1 4146 FAIR MARKET X SUPPLIES 25 11363 FAIR MARKET X TRAVEL 5 2183 FAIR MARKET X EVENT 4 1479 FAIR MARKET false false true Part I, Line 32, Hire and Use of Third Parties THE COLLEGE USES AN INDEPENDENT BROKER TO SELL SECURITIES RECEIVED AS A NONCASH CONTRIBUTION. Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNSELING, INTERCOLLEGIATE ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 1,131 FULL AND PART TIME STUDENTS. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et Don Wiley, President of the Board of Iowa Wesleyan College, is also on the Board of Two Rivers Bank and Trust (where the College does their banking). Kathy Nellor, who works at Two Rivers Bank and Trust is also on the Board of Trustees for Iowa Wesleyan College. Therefore, there is a business relationship between Wiley, Nellor and the bank. Form 990, Part VI, Line 11b: Form 990 Review Process While any member of the Board may request a copy of the Form 990 at any time, all of the members are not asked to review a draft prior to the filing. The audit committee reviews the results of the audit with management and the outside auditor. As the financial information reflected in the audited financial statements is utilized in the Form 990, the audit committee requires the controller to reconcile the financial information reflected in the Form 990 to the audited financial statements. Any exceptions noted by the controller are to be brought to the attention of the CFO and the Chair of the audit committee. The Chair of the audit committee reviews the entire draft of the Form 990 and discusses any questions or concerns from this review with the CFO, Controller, outside auditor or other trustees as is appropriate prior to the filing of the Form. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts THE COLLEGE TRUSTEES VOLUNTARILY REPORT CONFLICTS AND ABSTAIN FROM VOTING ON ISSUES IN WHICH CONFLICTS EXIST. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Salaries are determined by comparisons with appropriate benchmarking surveys and available resources. The Presidential Review Committee meets to review the President's salary. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Salaries are determined by comparisons with appropriate benchmarking surveys and available resources. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The documents are provided to the Board and available to anyone else upon request. Other Changes In Net Assets Or Fund Balances - Other Increases CHANGE IN BENEFICIAL INTEREST IN TRUST = $176756 Other Changes In Net Assets Or Fund Balances - Other Increases CHANGE IN SPLIT INTEREST AGREEMENTS = $22558 FORM 990, SCHEDULE L, PART IV, LINE (1) THE COLLEGE RECEIVES COMPETITIVE BIDS AND ALL WORK AWARDED TO TAFT-WILEY IS BASED ON LOWEST BID. DON WILEY, BOARD TRUSTEE, IS THE BROTHER OF THE OWNER OF TAFT-WILEY, INC., A COMPANY THAT PROVIDED COOLING AND HEATING SERVICES FOR THE COLLEGE FOR THE CURRENT YEAR-END. FORM 990, SCHEDULE L, PART IV, LINE (2) DON WILEY, BOARD TRUSTEE, IS ALSO A BOARD MEMBER FOR TWO RIVERS BANK AND TRUST. THE COLLEGE OBTAINED A $1,500,000 LINE OF CREDIT FROM TWO RIVERS BANK AND TRUST. MR. WILEY ABSTAINS FROM ALL VOTING REGARDING TRANSACTIONS BETWEEN THE BANK AND THE COLLEGE. FORM 990, SCHEDULE L, PART IV, LINE (3) DON WILEY, BOARD TRUSTEE, IS ALSO A BOARD MEMBER FOR TWO RIVERS BANK AND TRUST. THE COLLEGE OBTAINED A $2,750,000 REVOLVING NOTE FROM TWO RIVERS BANK AND TRUST. MR. WILEY ABSTAINS FROM ALL VOTING REGARDING TRANSACTIONS BETWEEN THE BANK AND THE COLLEGE.