2013-01-14T08:21:43-08:00 2012-05-31 TD&T FINANCIAL GROUP PC 317 HIGH AVE E OSKALOOSA IA 525772823 990 2011-06-01 420680332 IOWA WESLEYAN COLLEGE IOWA 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 PHYLLIS WHITNEY 2013-01-11 true Joseph B Ryan CPA 6416722523 2011 2016-03-07 17:11:31Z 21290857 false false 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. 37 32 508 50 0 2330639 4062241 16258263 16853476 349373 312820 57025 62320 18995300 21290857 5329873 5827301 0 7425588 7662253 0 321655 6814124 6454764 19569585 19944318 -574285 1346539 44465380 44203033 16155442 15493570 28309938 28709463 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 7081704 13873723 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 1,387 FULL AND PART TIME STUDENTS ENROLLED DURING THE FALL AND SPRING SEMESTERS. 5827301 5827301 SCHOLARSHIP PROGRAMS FOR SCHOLARSHIPS AND GRANTS TO 739 STUDENTS. 2437148 60744 STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNCELING, INTERCOLLEGIATE ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 1,387 FULL AND PART TIME STUDENTS. 1795157 2919009 17141310 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 true true false true true false false false false false false true true false false false false false false false false false true 27 0 true 508 true false false false false false false false false true true false 0 false false false false false false false false false false false X 37 32 true false false false false false false true true true false false false true true true true true true true false false X PHYLLIS WHITNEY 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 CHARLES SMITH 1.00 X 0 0 0 DONALD WICK 1.00 X 0 0 0 CHRISTOPHER VAN GELS 1.00 X 0 0 0 JULIUS TRIMBLE 1.00 X 0 0 0 LORI WILLIAMS-WRIGHT 1.00 X 0 0 0 DON WILEY 1.00 X X 0 0 0 THEODORE ROTH 1.00 X 0 0 0 HERB SHAFER 1.00 X 0 0 0 JODIE BECK WENDEL 1.00 X 0 0 0 KENT SWAIM 1.00 X 0 0 0 DAVID STANLEY 1.00 X 0 0 0 HUGH STAFFORD 1.00 X X 0 0 0 GARY SHAW 1.00 X 0 0 0 JD SCHIMMELPFENNIG 1.00 X 0 0 0 KENNETH ROYAR 1.00 X X 0 0 0 JASON KIESEY 1.00 X 0 0 0 RANDALL PERRY 1.00 X 0 0 0 JAMES PEDRICK 1.00 X X 0 0 0 RICHARD OBERMAN 1.00 X 0 0 0 VINCENT NACCARATO 1.00 X 0 0 0 MICHAEL MORGAN 1.00 X X 0 0 0 ROBERT MILLER 1.00 X 0 0 0 DAVID MCCOID 1.00 X 0 0 0 BYRON JOHNSON 1.00 X X 0 0 0 STEVE HEDLUND 1.00 X 0 0 0 CHARLES ESPY JR 1.00 X 0 0 0 WALLACE LOH 1.00 X 0 0 0 ELIZABETH GARRELS 1.00 X 0 0 0 A LOWELL DOUD 1.00 X 0 0 0 TARVIS GORDON 1.00 X 0 0 0 JOHN CAVANAH 1.00 X X 0 0 0 JOHN BADGER 1.00 X 0 0 0 JOY ANDERSON 1.00 X 0 0 0 RICHARD FERGUSON 1.00 X X 0 0 0 MARY ELGAR 1.00 X 0 0 0 W CHRISTINE RAUSCHER 1.00 X 0 0 0 KATHY NELLOR 1.00 X 0 0 0 JERRY THOMAS 50.00 X 96508 0 18328 CAROL NEMITZ 40.00 X 14400 0 0 LINDA BUCHANAN 50.00 X 99292 0 12340 NANCY ERICKSON 50.00 X 92000 0 12485 PHYILLIS WHITNEY 50.00 X 122000 0 22641 MARK PETTY 50.00 X 62338 0 15554 JAY K SIMMONS 50.00 X 175085 0 29456 661623 110804 2 false true false US BANK PO BOX 790408 ST LOUIS MO 63179 CREDIT CARD 281413 SODEXHO AMERICA 601 N MAIN MT PLEASANT IA 52641 FOOD SERVICE 875365 NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGR GA 30241 MAINTENANCE 773506 GLAHI TRUST 200 S WACKER SUITE 1000 CHICAGO IL 60606 INSURANCE 804260 ENERGY SYSTEMS GROUP LLC PO BOX 634987 CINCINNATI OH 45263 HEATING/COOLING WORK 4661954 12 139929 3922312 32213 4062241 TUITION AND FEES 13873723 13873723 ROOM & BOARD 2538668 2538668 MISC FEES 60744 60744 FINANCE CHARGE 60987 60987 BOOKSTORE 319354 319354 16853476 312820 312820 0 0 62320 62320 62320 62320 0 0 0 0 0 21290857 13873723 3354893 0 5827301 5827301 0 0 782341 216827 447186 118328 0 5128122 4393057 629085 105980 260507 228878 27743 3886 1047891 881204 137916 28771 443392 322023 105863 15506 0 550 550 65422 65422 0 0 0 29247 7982 21265 32472 24915 7257 300 0 0 0 663254 639087 21378 2789 225724 172287 43366 10071 0 33684 25968 7072 644 452134 415964 31649 4521 0 1080674 994220 75647 10807 297938 61850 236088 Printing and Publications 158240 101444 46960 9836 CONTRACTED SERVICES 556661 466232 90429 SUPPLIES 638597 602805 32996 2796 FOOD SERVICE CONTRACT 1572743 1572743 647424 186523 453481 7420 19944318 17141310 2481353 321655 4185 310 2358252 1982675 17975 799975 470596 178847 0 0 480789 514789 0 565192 391951 41383149 15971008 21676331 25412141 8612733 7704401 1000000 1500000 0 0 9279327 5717944 44465380 44203033 1965269 1388162 107342 115273 473129 238950 12265000 11919762 1045192 1537773 299510 293650 16155442 15493570 X 15852897 13556575 159937 2060879 12297104 13092009 28309938 28709463 44465380 44203033 X 1346539 -947014 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 12297104 968928 -731937 12534095 10680370 178149 1627323 188738 12297104 9600145 340197 925705 185677 10680370 1.00000 true false false 363027 363027 58150 31586681 8612612 23032219 845419 580593 264826 7737947 6113315 1624632 791925 664488 127437 25412141 UNAMORTIZED LOAN COSTS 277119 PROPERTY HELD FOR SALE 63 CONSTRUCTION IN PROGRESS 2493 CASH RESTRICTED FOR CONSTRUCTION 364338 BENEFICIAL INTEREST IN PERPETUAL TR 3573953 5717944 STUDENT DEPOSITS 22230 ANNUITY OBLIGATIONS 271420 293650 21290857 19944318 1346539 -752039 -194975 -947014 399525 14755359 -752039 -35486 -787525 15542884 5747973 5747973 21290857 14196345 14196345 5747973 5747973 19944318 Part X 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 2009. Part XIII, Line 4b Part XIII, Line 4b: Other revenue amounts included on 990 but not included in F/S SCH AND GRANTS NETTED REVENUES $5747973 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S SCH AND GRANTS NETTED REVENUE $5747973 COLLECTION OF PRIOR YEARS PLEDGES $0 Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances PRIOR YEAR PLEDGE REVENUE $ -0 CHANGE IN SPLIT INTEREST AGREEMENTS $ -194975 Part V, Line 4 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 III, Line 4 Part III, Line 4: Description of organization's collections and how it furthers its purpose. THE COLLEGE'S FINE ART COLLECTION INCLUDING DRAWINGS, PAINTINGS, FURNITURE AND SCULPTURES THAT ARE MAINTAINED FOR PURPOSES OF SCHOLARLY RESEARCH, PUBLIC EXHIBITS AND PRESERVATION FOR FUTURE GENERATIONS. Part III, Line 1a Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o THE COLLEGE DOES NOT HAVE A FOOTNOTE TO THE FINANCIAL STATEMENTS THAT DESCRIBES THE ACCOUNTING FOR THE THE WORKS OF ART, HISTORICAL TREASURES, ETC. HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH. true true true true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NONDISCRIMINATION POLICY NOTED IN ALL PUBLIC ADVERTISING, COLLEGE CATALOGS AND FINANCIAL AID LITERATURE true X 0 0 INSTITUTION SCHOLARSHIPS AND GRANTS 562 5747973 BOOK FEDERAL SUPPLEMENTAL EDUC OPPOR GRANTS 177 79328 BOOK 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. X true true X X X X false false false false false false false false false false JAY K SIMMONS 175085 12250 17206 204541 Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. Housing allowance is paid to an employee of the College. The amount paid is then added to the W-2 of the employee. IOWA HIGHER EDUCATION LOA 421235696 462460L13 2000-03-15 3942410 PARTIAL FUND AND STUD ACTV CTR true true false CITY OF MT PLEASANT IA 426004995 2011-05-05 7000000 CAMPUS IMPROV & REFIN DEBT false false IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460LJ3 2006-05-01 5750000 FINANCE CAMPUS IMPROVEMENTS AND ADVANCE REFUNDING false false 4000000 2272417 80000 120000 1673507 false true true true 7000000 364338 112100 5068984 1454578 false false false true 5750000 373723 3780000 210000 1386328 false true true true false false false false false true false false false false false true false false false false false true true false false false false false false false false false false false true false false false false false true X DON WILEY SEE SCHEDULE O 1500000 SEE SCHEDULE O false KATHY NELLOR SEE SCHEDULE O 1500000 SEE SCHEDULE O false DON WILEY SEE SCHEDULE O 43870 SEE SCHEDULE O false X 1 10455 FAIR MARKET X 2 10541 FAIR MARKET X 1 8725 FAIR MARKET X 2 2492 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 NONCASH CONTRIBUTIONS. 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 $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 (2) KATHY NELLOR, BOARD TRUSTEE, IS THE CHIEF RETAIL BANKING OFFICER AND MT. PLEASANT MARKETING PRESIDENT OF TWO RIVERS BANK AND TRUST. THE COLLEGE OBTAINED A $1,500,000 LINE OF CREDIT FROM TWO RIVERS BANK AND TRUST. MS. NELLOR ABSTAINS FROM ALL VOTING REGARDING TRANSACTIONS BETWEEN THE BANK AND THE COLLEGE. 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, PART V, 3A PRIOR YEARS FORM 990 REPORTED RENTAL REAL ESTATE REVENUE ON FORM 990-T. HOWEVER, THE RENTAL INCOME IS FROM NON-DEBT FINANCED PROPERTY AND THEREFORE IS NOT REQUIRED TO BE REPORTED ON FORM 990-T. THEREFORE FOR THE YEAR ENDED 5-31-11, THERE WAS NO UNRELATED BUSINESS INCOME. Form 990, Part VI, Line 19 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. Form 990, Part VI, Line 15b 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 12c 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 9 Form 990, Part VI, Line 9: Officer, Director, Trustee, Key Employee Mailing Address THE COLLEGE MAINTAINS A LIST OF CURRENT ADDRESSES AND TELEPHONE NUMBERS FOR EACH TRUSTEE. ALL MEMBERS OF THE BOARD CAN BE REACHED FROM THIS LIST. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: 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 2 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 III, Line 4d Form 990, Part III, Line 4d : Other Program Services Description OTHER PROGRAM SERVICES 4: STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNCELING, INTERCOLLEGIATE ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 1,387 FULL AND PART TIME STUDENTS.