2015-05-12T07:11:29-05:00 2014-06-30 203934956 WHISMAN GIORDANO & ASSOCIATES LLC 111 CONTINENTAL DR STE 210 NEWARK DE 197134330 990 2013-07-01 510064335 WESLEY COLLEGE INC WESL 3027362566 120 NORTH STATE STREET DOVER DE 199013835 CHRISTINE GIBSON VP OF FINANCE 3027362566 2015-05-11 true JOSEPH A GIORDANO CPA P00578904 3022660202 2015-05-12 2013 2016-02-25 16:41:14Z 46914785 false X WWW.WESLEY.EDU X 1873 DE ACADEMIC INSTRUCTION TO ASSIST STUDENTS WITH THE GAIN OF KNOWLEDGE, SKILLS, MORAL AND ETHICAL ATTITUDES NECESSARY TO ACHIEVE THEIR PERSONAL GOALS AND CONTRIBUTE TO THE WELFARE OF THEIR COMMUNITIES IN THE GLOBAL SOCIETY. AS WELL AS TO IMPART A DESIRE FOR LIFELONG LEARNING AND AN ENHANCED CAPACITY FOR CRITICAL AND CREATIVE THINKING SO THAT STUDENTS CAN REAP THE REWARD OF INTELLECTUAL GROWTH AND PROFESSIONAL EFFECTIVENESS. 24 24 990 20 0 7470027 3420579 40177730 42780290 201341 144439 84073 569477 47933171 46914785 0 0 13724259 13609464 0 678948 31060376 31188562 44784635 44798026 3148536 2116759 35589490 38082107 13502214 13160131 22087276 24921976 X ACADEMIC INSTRUCTION TO ASSIST STUDENTS WITH THE GAIN OF KNOWLEDGE, SKILLS, MORAL AND ETHICAL ATTITUDES NECESSARY TO ACHIEVE THEIR PERSONAL GOALS AND CONTRIBUTE TO THE WELFARE OF THEIR COMMUNITIES IN THE GLOBAL SOCIETY. AS WELL AS TO IMPART A DESIRE FOR LIFELONG LEARNING AND AN ENHANCED CAPACITY FOR CRITICAL AND CREATIVE THINKING SO THAT STUDENTS CAN REAP THE REWARD OF INTELLECTUAL GROWTH AND PROFESSIONAL EFFECTIVENESS. false false 35896337 ACADEMIC INSTRUCTION TO ASSIST STUDENTS WITH THE GAIN OF KNOWLEDGE, SKILLS, MORAL AND ETHICAL ATTITUDES NECESSARY TO ACHIEVE THEIR PERSONAL GOALS AND CONTRIBUTE TO THE WELFARE OF THEIR COMMUNITIES IN THE GLOBAL SOCIETY. 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ALTHOUGH THE COLLEGE IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES, THE ENTITY WAS REQUIRED TO ADOPT ASC 740 "ACCOUNTING FOR INCOME TAXES", WHICH APPLIES TO ALL ENTITIES INCLUDING THOSE THAT ARE TAX EXEMPT UNDER 501(C) (3). ASC 740 CLARIFIES THE ACCOUNTING AND REPORTING FOR INCOME TAXES WHERE INTERPRETATION OF THE TAX LAW MAY BE UNCERTAIN. ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF INCOME TAX UNCERTAINTIES WITH RESPECT TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN TAX RETURNS. MANAGEMENT HAS REVIEWED ITS CURRENT AND PAST FEDERAL INCOME TAX POSITIONS AND HAS DETERMINED, BASED ON CLEAR AND UNAMBIGUOUS TAX LAW AND REGULATIONS, THAT THE TAX POSITIONS TAKEN ARE CERTAIN AND THAT THERE IS NO LIKELIHOOD THAT A MATERIAL TAX ASSESSMENT WOULD BE MADE IF THE RESPECTIVE GOVERNMENT AGENCY EXAMINED TAX RETURNS SUBJECT TO AUDIT. ACCORDINGLY, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED. CURRENTLY, THE 2011, 2012 AND 2013 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. HOWEVER, THE ENTITY IS NOT CURRENTLY UNDER AUDIT NOR HAS THE COLLEGE BEEN CONTACTED BY THIS JURISDICTION. ANY INTEREST AND PENALTIES RELATED TO INCOME TAXES WOULD BE IN INCOME TAX EXPENSES. THERE ARE NO INTEREST AND PENALTIES AS OF JUNE 30, 2014. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 A NON-DISCRIMINATION POLICY STATEMENT IS INCLUDED IN EVERY STUDENT HANDOUT WHICH IS DISTRIBUTED TO ALL POTENTIAL STUDENTS SCHEDULE E, LINE 6 MONEY IS RECEIVED FROM THE DEPARTMENT OF EDUCATION AND AWARDED TO STUDENTS ACCORDING TO APPLICABLE FEDERAL GUIDELINES. X true false false false false false false false false false false WILLIAM JOHNSTON PRESIDENT 248705 18000 99219 9968 375892 FORM 990 - ORGANIZATION'S MISSION ACADEMIC INSTRUCTION TO ASSIST STUDENTS WITH THE GAIN OF KNOWLEDGE, SKILLS, MORAL AND ETHICAL ATTITUDES NECESSARY TO ACHIEVE THEIR PERSONAL GOALS AND CONTRIBUTE TO THE WELFARE OF THEIR COMMUNITIES IN THE GLOBAL SOCIETY. AS WELL AS TO IMPART A DESIRE FOR LIFELONG LEARNING AND AN ENHANCED CAPACITY FOR CRITICAL AND CREATIVE THINKING SO THAT STUDENTS CAN REAP THE REWARD OF INTELLECTUAL GROWTH AND PROFESSIONAL EFFECTIVENESS. FORM 990, PAGE 6, PART VI, LINE 11B REVIEWED BY GOVERNING BOARD BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 12C CFO MONITORS ALL MATTERS RELATED TO CONFLICT OF INTEREST FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW AND ADJUST SALARIES ACCORDINGLY. FORM 990, PAGE 6, PART VI, LINE 15B CEO CONDUCTS AN ANNUAL PERFORMANCE REVIEW FOR ALL TOP LEVEL (KEY) EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATIONS GOVERNING DOCUMENTS ARE ON RECORD WITH THE STATE OF DELAWARE, AND ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE INTEREST SWAP 4,826