2021-03-05T11:46:25-06:00 2020-05-31 421029744 TDT CPAS AND ADVISORS PC 1700 42ND ST NE CEDAR RAPIDS IA 52402 990 2019-06-01 420680332 IOWA WESLEYAN UNIVERSITY IOWA 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 CHRISTINE PLUNKETT PRESIDENT 3193856210 2021-02-03 true ROSS VANLAAR CPA P01532250 3193932374 2021-03-05 2019 2022-09-23 18:48:47Z CHRISTINE PLUNKETT 601 N MAIN STREET MT PLEASANT IA 52641 20331873 false X WWW.IW.EDU X 1842 IA IOWA WESLEYAN UNIVERSITY IS A TRANSFORMATIONAL LEARNING COMMUNITY WHOSE PASSION IS TO EDUCATE, EMPOWER AND INSPIRE STUDENTS TO LEAD MEANINGFUL LIVES AND CAREERS. 22 21 393 50 0 3846713 2832465 17619811 17313494 -13862 134794 65563 50982 21518225 20331735 8140716 8102338 0 7827110 7790600 0 619701 8092520 8560695 24060346 24453633 -2542121 -4121898 37525577 35770496 27781503 30495392 9744074 5275104 X IOWA WESLEYAN UNIVERSITY IS A TRANSFORMATIONAL LEARNING COMMUNITY WHOSE PASSION IS TO EDUCATE, EMPOWER AND INSPIRE STUDENTS TO LEAD MEANINGFUL LIVES AND CAREERS. false false 5625296 14243082 THE UNIVERSITY IS ACCREDITED AS A BACCALAUREATE INSTITUTION BY THE HIGHER 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 578 FULL AND PART TIME STUDENTS IN THE FALL SEMESTER OF 2019 AND 509 STUDENTS IN THE SPRING SEMESTER OF 2020. 2793408 3070412 AUXILIARY ENTERPRISES FOR THE BENEFIT OF THE STUDENTS (RESIDENCE HALLS, DINING, ETC.) THE UNIVERSITY HAD 547 STUDENTS LIVING ON CAMPUS DURING THE FALL 2019 SEMESTER. THE UNIVERSITY HAD 483 STUDENTS LIVING ON CAMPUS DURING THE SPRING 2020 SEMESTER. ALL STUDENTS LIVING ON CAMPUS ALSO PURCHASED MEAL PLANS. 8102338 8102338 SCHOLARSHIP PROGRAMS FOR SCHOLARSHIPS AND GRANTS TO 585 STUDENTS. 4464575 STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNSELING, ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 578 FULL AND PART TIME STUDENTS IN THE FALL SEMESTER OF 2019 AND 509 STUDENTS IN THE SPRING SEMESTER OF 2020. 4464575 20985617 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 false false false false false false false true true false false false true false false false false true 20 0 true 393 true false false false false false false false false false false false false X 22 21 false true false false false false false true true false false false true true true true true true true false X CHRISTINE PLUNKETT 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 ANNETTE SCIESZINSKI CHAIRPERSON 1.00 X X 0 0 0 CHRISTIE VILSACK VICE CHAIR 1.00 X X 0 0 0 MARY ELGAR SECRETARY 1.00 X X 0 0 0 JASON BENDER TRUSTEE 1.00 X 0 0 0 ELIZABETH GARRELS TRUSTEE 1.00 X 0 0 0 PAUL DENNISON TRUSTEE 1.00 X 0 0 0 CHARLES FLUHARTY TRUSTEE 1.00 X 0 0 0 L NATHAN GAUSE TRUSTEE 1.00 X 0 0 0 MELINDA HUISINGA TRUSTEE 1.00 X 0 0 0 DENISE JOHNSON TRUSTEE 1.00 X 0 0 0 BYRON JOHNSON TRUSTEE 1.00 X 0 0 0 TONY KASKA TRUSTEE 1.00 X 0 0 0 MARIA LOGREN TRUSTEE 1.00 X 0 0 0 WALLACE LOH TRUSTEE 1.00 X 0 0 0 ROBERT MEYER TRUSTEE 1.00 X 0 0 0 ROBERT MILLER TRUSTEE 1.00 X 0 0 0 RANDALL PERRY TRUSTEE 1.00 X 0 0 0 THEODORE ROTH TRUSTEE 1.00 X 0 0 0 JD SCHIMMELPFENNIG TRUSTEE 1.00 X 0 0 0 GARY SHAW TRUSTEE 1.00 X 0 0 0 CHRISTOPHER VAN GELS TRUSTEE 1.00 X 0 0 0 DON WILEY TRUSTEE 1.00 X 0 0 0 STEVEN TITUS FORMER PRESI 50.00 X 287484 0 16225 CHRISTINE PLUNKETT PRESIDENT 50.00 X 0 0 0 DEWAYNE FRAZIER VP ACADEMIC 50.00 X 149233 0 27570 MEG RICHTMAN VP STRATEGIC 50.00 X 116220 0 26519 MICHAEL HEATON VP INSTITUTI 50.00 X 122333 0 27474 675270 97788 4 false true false NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGR GA 30241 MAINTENANCE 746390 SODEXHO AMERICA 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 587983 EAB 1920 EAST PARHAM RD RICHMOND VA 23228 CONSULTING 404299 REGISTRY FOR COLLEGE AND UNIVERSITY 3 CENTENNIAL DR SUITE 320 PEABODY MA 01960 CONSULTING 274037 KEYS PROPERTY MANAGEMENT 126 W STONEBROOK DR MOUNT PLEASANT IA 52641 LANDLORD 187200 7 475806 2356659 392022 2832465 TUITION AND FEES 611600 14243082 14243082 ROOM & BOARD 721310 2789462 2789462 BOOKSTORE 900099 150095 150095 MISC FEES 900099 110261 110261 FINANCE CHARGE 451211 20594 20594 17313494 134906 134906 50982 50982 50982 50982 26 138 -112 -112 -112 20331735 14243082 3256188 8102338 8102338 860408 158610 540309 161489 5265306 4602586 423862 238858 1239884 1035230 149445 55209 425002 334962 63574 26466 14020 14020 72014 72014 96649 8245 83404 5000 91380 22675 68211 494 88295 37652 34331 16312 978578 893762 84816 274639 245430 22664 6545 39653 28261 11012 380 784828 722042 54938 7848 1120994 1031315 78470 11209 233081 53936 179145 FOOD SERVICE CONTRACT 1664944 1664944 CONTRACT SERVICES 1444229 1026432 410272 7525 SUPPLIES 639244 515197 99131 24916 RENTALS 269492 261697 5121 2674 748655 240303 453576 54776 24453633 20985617 2848315 619701 1557 1684 903873 1428440 571068 1056434 138205 137982 83337 71620 142237 168541 44543746 24256841 20892562 20286905 3238809 3092679 11553929 9526211 37525577 35770496 1325620 2676857 83398 105179 26128673 26075187 1391035 243812 247134 27781503 30495392 X -8371538 -13259094 18115612 18534198 9744074 5275104 37525577 35770496 X -4121898 -200568 -146504 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 15082077 99861 -104840 180000 14897098 15268043 47335 -23301 210000 15082077 15180125 182475 613205 707762 15268043 13065291 1682979 898855 467000 15180125 14451710 166855 -598274 955000 13065291 1.00000 true false 373116 363027 736143 1076693 32025552 14712327 18389918 845419 722330 123089 9061142 8024877 1036265 798797 797307 1490 20286905 BENEFICIAL INTEREST IN PERPETUAL TRU 6053251 DEBT SERVICE RESERVE FUND 1234465 COLLECTIONS 704794 SAVINGS ACCTS & CDS 442259 PROPERTY HELD FOR SALE 360000 MINERAL RIGHTS 310000 CASH SURRENDER VALUE OF LIFE INS 191502 WRESTLING BUILDING CIP 130645 REFUNDABLE GOVT LOAN PROGRAM 99295 9526211 ANNUITY OBLIGATIONS 165719 STUDENT DEPOSITS 81415 247134 X 11958450 -200568 -146504 -347072 12305522 8026213 8026213 20331735 16427420 16427420 8026213 8026213 24453633 SCHEDULE D, PAGE 2, PART III, LINE 4 THE UNIVERSITY'S FINE ART COLLECTION INCLUDING DRAWINGS, PAINTINGS, FURNITURE, AND SCULPTURES ARE MAINTAINED FOR PURPOSES OF SCHOLARLY RESEARCH, PUBLIC EXHIBITS, AND PRESERVATION FOR FUTURE GENERATIONS. SCHEDULE D, PAGE 2, 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. SCHEDULE D, PAGE 3, PART X THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX AS DESCRIBED 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 D, PAGE 4, PART XI, LINE 2D CHANGE IN SPLIT INTEREST AGREEMENT -108,884 CHANGE IN BENEFICIAL INTEREST IN TRUST -37,620 SCHEDULE D, PAGE 4, PART XI, LINE 4B SCH & GRANTS NETTED REVENUE 8,026,213 SCHEDULE D, PAGE 4, PART XII, LINE 4B SCH & GRANTS NETTED REVENUE 8,026,213 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 NONDISCRIMINATION POLICY NOTED IN ALL PUBLIC ADVERTISING, UNIVERSITY CATALOGS AND FINANCIAL AID LITERATURE. SCHEDULE E, LINE 6 THE ORGANIZATION RECEIVES STUDENT FINANCIAL ASSISTANCE THROUGH THE DEPARTMENT OF EDUCATION. THE UNIVERSITY ALSO RECEIVED FUNDING FROM THE CARES ACT HIGHER EDUCATION EMERGENCY RELIEF FUND IN THE AMOUNT OF 459,610 FOR THE YEAR ENDED MAY 31, 2020. THE FOLLOWING STUDENT FINANCIAL ASSISTANCE PROGRAMS ARE ADMINISTERED THROUGH THE UNIVERSITY: DIRECT STUDENT LOANS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, WORK- STUDY, PERKINS LOANS, AND TEACH GRANTS. FOR THE YEAR ENDED MAY 31, 2020 THE ORGANIZATION HAD 5,148,974 IN FEDERAL EXPENDITURES RELATED TO THOSE PROGRAMS. true FEDERAL SUPPLEMENTAL EDUC 165 76125 INSTITUTION SCHOLARSHIPS 420 8026213 SCHEDULE I, PAGE 1, PART I, LINE 2 THE UNIVERSITY HAS A FINANCIAL 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. X true true X X X X false false false false false false false false false STEVEN TITUS FORMER PRESIDENT 280484 7000 16225 303709 DEWAYNE FRAZIER VP ACADEMIC AFFAIRS 149233 27570 176803 DON WILEY SEE PART V 60799 SEE PART V false SCHEDULE L, PART V FORM 990, SCHEDULE L, PART IV, LINE (1) THE UNIVERSITY 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 UNIVERSITY FOR THE CURRENT YEAR-END. X 2 18906 FMV X 1 373116 FMV false false true SCHEDULE M, PAGE 1, PART I, LINE 32B THE UNIVERSITY USES AN INDEPENDENT BROKER TO SELL SECURITIES RECEIVED AS A NONCASH CONTRIBUTION. FORM 990, PAGE 2, PART III, LINE 4D STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNSELING, ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 578 FULL AND PART TIME STUDENTS IN THE FALL SEMESTER OF 2019 AND 509 STUDENTS IN THE SPRING SEMESTER OF 2020. FORM 990, PAGE 6, PART VI, LINE 3 IOWA WESLEYAN UNIVERSITY PAID THE REGISTRY FOR COLLEGE AND UNIVERSITY FOR CONTRACTED SERVICES AS THE VICE PRESIDENT OF FINANCE FOR THE UNIVERSITY. CHRIS PLUNKETT RECEIVED COMPENSATION OF 226,618.59 FOR HER ROLE AS VICE PRESIDENT OF FINANCE FOR IOWA WESLEYAN UNIVERSITY DURING THE CALENDAR YEAR. FORM 990, PAGE 6, PART VI, LINE 11B 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, PAGE 6, PART VI, LINE 12C THE UNIVERSITY TRUSTEES VOLUNTARILY REPORT CONFLICTS AND ABSTAIN FROM VOTING ON ISSUES IN WHICH CONFLICTS EXIST. FORM 990, PAGE 6, PART VI, LINE 15A 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, PAGE 6, PART VI, LINE 15B SALARIES ARE DETERMINED BY COMPARISONS WITH APPROPRIATE BENCHMARKING SURVEYS AND AVAILABLE RESOURCES. FORM 990, PAGE 6, PART VI, LINE 19 THE DOCUMENTS ARE PROVIDED TO THE BOARD AND AVAILABLE TO ANYONE ELSE UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN SPLIT INTEREST AGREEMENT -108,884 CHANGE IN BENEFICIAL INTEREST IN TRUST -37,620 SCH & GRANTS NETTED REVENUE -8,026,213 SCH & GRANTS NETTED REVENUE 8,026,213 TOTAL -146,504 IW REAL ESTATE FOUNDATION LLC 601 NORTH MAIN STREET MT PLEASANT IA 52641 811054775 PART VII IA 18876034 PART VII SCHEDULE R SCHEDULE R, PART I, LINE 1, COLUMN (B) THE PRIMARY ACTIVITY OF THE COMPANY IS TO ACQUIRE 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 BENEFIT OF THE SOLE MEMBER. SCHEDULE R, PART I, LINE 1, COLUMN (E) THE COMPANY OWNS SUBSTANTIALLY ALL OF THE REAL ESTATE USED BY THE UNIVERSITY. SCHEDULE R, PART I, LINE 1, COLUMN (F) THE SOLE MEMBER OF THE COMPANY IS IOWA WESLEYAN UNIVERSITY.