2020-07-15T13:59:56-05:00 2019-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2018-07-01 510064335 WESLEY COLLEGE INC WESL 3027362566 120 NORTH STATE STREET DOVER DE 19901 DENNIS E STARK VP OF FINANCE 3027362566 2020-07-15 1 KAREN GRIES P00078514 6123764500 2020-07-15 67.137.57.251 2020-07-15 11:43:25 CD P BF88B2E75C20C69271D32A7A8AD00889DE1B1210 9C60282527656A465DFCFC0150A1AF7F6A0AA5C9 2018 2020-09-23 17:36:50Z ROBERT CLARK II 120 NORTH STATE STREET DOVER DE 19901 41070614 0 X WWW.WESLEY.EDU X 1873 DE UNITED METHODIST INSTITUTION OF HIGHER EDUCATION AMONG THE FINEST STUDENT-CENTERED LEARNING COMMUNITIES IN THE LIBERAL ARTS TRADITION. 22 22 648 22 0 0 4795885 3508091 41160283 36494570 230854 128190 884124 939763 47071146 41070614 17209198 14835713 0 0 15022555 14359879 0 0 564025 15112084 14531626 47343837 43727218 -272691 -2656604 34343087 34385655 11095787 14076133 23247300 20309522 X WESLEY COLLEGE IS A UNITED METHODIST INSTITUTION OF HIGHER EDUCATION THAT SEEKS TO BE AMONG THE FINEST STUDENT-CENTERED LEARNING COMMUNITIES IN THE LIBERAL ARTS TRADITION. CONSISTENT WITH OUR METHODIST HERITAGE, THE COLLEGE AFFIRMS MEANING AND PURPOSE IN LIFE THROUGH JUSTICE, COMPASSION, INCLUSION AND SOCIAL RESPONSIBILITIES THAT ENHANCE COMMUNITY LIFE AND RESPECT FOR THE ENVIRONMENT. WESLEY COLLEGE EXISTS TO LIBERATE AND EMPOWER ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, ETHICAL ATTITUDE AND CAPACITY FOR CRITICAL THINKING NEEDED TO ACHIEVE PERSONAL AND PROFESSIONAL GOALS AND TO CONTRIBUTE TO THE LOCAL AND GLOBAL SOCIETY. 0 0 33131351 14835713 36494570 WESLEY COLLEGE IS A UNITED METHODIST INSTITUTION OF HIGHER EDUCATION THAT SEEKS TO BE AMONG THE FINEST STUDENT-CENTERED LEARNING COMMUNITIES IN THE LIBERAL ARTS TRADITION. CONSISTENT WITH OUR METHODIST HERITAGE, THE COLLEGE AFFIRMS MEANING AND PURPOSE IN LIFE THROUGH JUSTICE, COMPASSION, INCLUSION AND SOCIAL RESPONSIBILITIES THAT ENHANCE COMMUNITY LIFE AND RESPECT FOR THE ENVIRONMENT. WESLEY COLLEGE EXISTS TO LIBERATE AND EMPOWER ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, ETHICAL ATTITUDE AND CAPACITY FOR CRITICAL THINKING NEEDED TO ACHIEVE PERSONAL AND PROFESSIONAL GOALS AND TO CONTRIBUTE TO THE LOCAL AND GLOBAL SOCIETY. 33131351 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 32 0 648 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X DENNIS E STARK 3027362484 120 NORTH STATE STREET DOVER DE 19904 WILLIAM J STRICKLAND CHAIR 1.00 X X 0 0 0 WILLIAM H WILLIS JR VICE CHAIR 1.00 X X 0 0 0 STEPHANIE SMITH CHRISTIANO SECRETARY 1.00 X X 0 0 0 CHARLES R DASHIELL JR DIRECTOR 1.00 X 0 0 0 CHARLES BURTON DIRECTOR 1.00 X 0 0 0 DR WILLIAM E BAZZELLE SR DIRECTOR 1.00 X 0 0 0 DAVID V BLAEUER DIRECTOR 1.00 X 0 0 0 SCOTT R BROWN DIRECTOR 1.00 X 0 0 0 TIMOTHY J CONSTANTINE DIRECTOR 1.00 X 0 0 0 REV BOYD B ETTER DIRECTOR 1.00 X 0 0 0 REV VICKI GORDY-STITH DIRECTOR 1.00 X 0 0 0 ROBERT VA HARRA JR DIRECTOR 1.00 X 0 0 0 REV W LEROY JONES DIRECTOR 1.00 X 0 0 0 ALAN B LEVIN DIRECTOR 1.00 X 0 0 0 DONALR L MASTEN DIRECTOR 1.00 X 0 0 0 REV CHARLOTTE A NICHOLS DIRECTOR 1.00 X 0 0 0 MATHEW T SELLITTO DIRECTOR 1.00 X 0 0 0 GREGORY V MOORE DIRECTOR 1.00 X 0 0 0 HARRY D SKIPWILLIS DIRECTOR 1.00 X 0 0 0 KEVIN BAIRD DIRECTOR 1.00 X 0 0 0 LARRY MERCARDANTE DIRECTOR 1.00 X 0 0 0 HONORABLE CHARLES H TOLIVER IV DIRECTOR 1.00 X 0 0 0 ROBERT CLARK II PRESIDENT 40.00 X 231175 0 27165 BELINDA BURKE VP OF FINANCE 40.00 X 156883 0 8300 MALCOLM D'SOUZA DEAN OF SPONSORED RESEARCH 40.00 X 143147 0 0 JEFF GIBSON VP FOR ACADEMIC AFFAIRS 40.00 X 150236 0 10528 WILLIAM PRITCHARD VP INSTITUTIONAL ADVANCEME 40.00 X 113297 0 4709 KAREN PANUNTO PROFESSOR 40.00 X 100854 0 0 JOHN DEARTH VP OF ENROLLMENT 40.00 X 131568 0 13402 1027160 0 64104 7 0 1 0 ARAMARK DINING SERVICES PO BOX 827598 PHILADELPHIA PA 191827598 FOOD SERVICES 2143132 NATIONAL MANAGEMENT RESOURCES CORP 118 SANDY DRIVE UNIT 7 NEWARK DE 19713 FACILITIES MAINT 1791180 ELLUCIAN COMPANY LP 134 MAPLE LEAF COURT GLASSBORO NJ 08028 IT SERVICES 1587904 BARNES AND NOBLE PO BOX 823660 PHILADELPHIA PA 191823660 BOOKSTORE 278097 WINDSTREAM PO BOX 9001013 LOUISVILLE KY 402901013 INTERNET SERVICES 216911 18 1185385 2322706 33081 3508091 TUITION AND FEES 611600 32322974 32322974 MEAL PLAN 611710 2586383 2586383 STUDENT RESIDENT HOUSING 531110 1547569 1547569 AUXILIARY INCOME 900099 37644 37644 36494570 56635 56635 71555 0 71555 71555 71555 OTHER REVENUE 900099 939763 939763 939763 41070614 36494570 0 1067953 14835713 14835713 417307 338019 66769 12519 11392177 8804864 2301107 286206 449759 370923 72753 6083 1324886 951954 338853 34079 775750 616237 139920 19593 79861 1500 78361 93750 93750 28628 28628 53908 53908 89391 16005 20435 52951 530314 321792 200130 8392 1714852 24000 1690852 4185441 94873 4062554 28014 280244 252717 26375 1152 80758 65906 11767 3085 449059 449059 1980906 1966016 14890 443246 443246 DINING HALL 2046952 2046600 352 STUDENT SERVICES 919199 911027 5670 2502 OTHER EXPENSES 766245 221366 435430 109449 GRANTS, SCHOLARSHIPS, E 570098 570098 218774 218774 43727218 33131351 10031842 564025 1499339 1543704 251368 81226 1280680 1106035 1105638 1045651 74071 6364 66367578 39222141 26841624 27145437 3281339 3450244 9028 6994 34343087 34385655 1834819 1893594 989312 2406287 583489 449982 7382759 8767772 305408 558498 11095787 14076133 X 12958971 12078101 7592978 6516164 2695351 1715257 23247300 20309522 34343087 34385655 X -2656604 68800 -349974 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 3281329 1000 196534 28629 3450234 4763130 37186 339889 504969 1353907 3281329 4741331 19324 2475 4763130 4697889 43442 303 4741634 4671332 26557 2185 4700074 0.50000 0.00000 0.50000 0 0 3204025 3204025 43281879 25405719 17876160 3037542 3037542 14482433 13816422 666011 2361699 2361699 27145437 LEASES PAYABLE 49770 FAIR VALUE IN INTEREST RATE SWAPS 508728 558498 X 26275073 68800 68800 26206273 28628 14835713 14864341 41070614 28862877 0 28862877 28628 14835713 14864341 43727218 PART IV, LINE 2B: FUNDS ARE RAISED BY STUDENTS AND THEN HELD FOR DISBURSEMENT FOR STUDENT ACTIVITES PART V, LINE 4: PROVISION OF SCHOLARSHIPS PART X, LINE 2: THE COLLEGE QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC); ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. ALTHOUGH THE COLLEGE IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES, THE ENTITY WAS REQUIRED TO ADOPT ASC 740 ACCOUNTING/OR 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 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 14,835,713. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 14,835,713. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A NON-DISCRIMINAITON POLICY STATEMENT IS INCLUDED IN EVERY STUDENT HANDOUT WHICH IS DISTRIBUTED TO ALL POTENTIAL STUDENTS. SCHEDULE E, PART I, LINE 6 MONEY IS RECEIVED FROM THE DEPARTMENT OF EDUCATION AND AWARDED TO STUDENTS ACCORDING TO APPLICABLE FEDERAL GUIDELINES. 0 FINANCIAL AID 1309 14835713 0 N/A N/A X X 1 0 X 0 0 0 0 0 0 0 0 0 ROBERT CLARK II PRESIDENT 231175 0 0 0 0 0 0 0 27165 0 258340 0 0 0 BELINDA BURKE VP OF FINANCE 156883 0 0 0 0 0 0 0 8300 0 165183 0 0 0 JEFF GIBSON VP FOR ACADEMIC AFFAIRS 150236 0 0 0 0 0 0 0 10528 0 160764 0 0 0 PART I, LINE 1A AS PART OF HIS EMPLOYMENT AGREEMENT, THE PRESIDENT IS PROVIDED HOUSING AND CLEANING SERVICES. BECAUSE THESE AMOUNTS ARE RELATED TO HIS EMPLOYMENT, THE AMOUNTS ARE NOT INCLUDED IN TAXABLE INCOME. X 12259 FMV X 1528 FMV X 1 4790 FMV X MISCELLANEOUS 52 7417 FMV X GIFT CARDS 39 5310 FMV X GIFT BASKETS 24 1777 FMV 0 0 0 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD, THE SECRETARY OF THE BOARD, AND THE CHAIR OF EACH STANDING COMMITTEE (EXCEPT THE COMMITTEE ON AUDIT), THE DOVER DISTRICT SUPERINTENDENT, AND TWO (2) MEMBERS-AT-LARGE NOMINATED BY THE CHAIR AND ELECTED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FALL MEETING OF THE BOARD. THE CHAIR SHALL PRESIDE AT ALL MEETINGS AND THE PRESIDENT SHALL BE THE STAFF PERSON TO THE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL POWERS OF THE BOARD WHEN THE BOARD IS NOT IN SESSION. THE EXECUTIVE COMMITTEE, UPON NOMINATION BY THE COMMITTEE ON TRUSTEE DEVELOPMENT, MAY ELECT TRUSTEES TO FILL VACANCIES OCCURRING BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ENSURE THAT THERE IS AN UPDATED MASTER PLAN SETTING GOALS AND STRATEGY FOR THE COLLEGE THAT INCLUDES BOTH ACADEMIC AND FINANCIAL CONSIDERATIONS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP OF THE WESLEY COLLEGE SHALL BE THE MEMBERS OF THE PENINSULA-DELAWARE ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH OR ITS SUCCESSOR. FORM 990, PART VI, SECTION A, LINE 7A WESLEY COLLEGE SHALL BE GOVERNED BY A THIRTY (30) MEMBER BOARD OF TRUSTEES, TWENTY-EIGHT (28) OF WHOM SHALL BE ELECTED BY THE MEMBERS OF THE CORPORATION THAT CONSISTS OF MEMBERS OF THE PENINSULA-DELAWARE ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH OR ITS SUCCESSOR. THE DOVER DISTRICT SUPERINTENDENT OF THE UNITED METHODIST CHURCH AND PRESIDENT OF THE COLLEGE SHALL BE EX-OFFICIO MEMBERS. OF THE ELECTED TRUSTEES, TWENTY (20) SHALL BE LAY PERSONS, AT LEAST TEN (10) OF WHOM SHALL BE MEMBERS OF LOCAL CHURCHES OF THE PENINSULA-DELAWARE ANNUAL CONFERENCE. EIGHT (8) ELECTED TRUSTEES SHALL BE ORDAINED CLERGY, AT LEAST FIVE (5) OF WHOM SHALL BE MEMBERS OF THE PENINSULA-DELAWARE ANNUAL CONFERENCE. THE EXECUTIVE COMMITTEE, UPON NOMINATION BY THE COMMITTEE ON TRUSTEE DEVELOPMENT, MAY ELECT TRUSTEES TO FILL VACANCIES OCCURRING BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. A DRAFT OF THE RETURN IS PROVIDED TO THE COLLEGE FOR REVIEW WITH ANY CHANGES INCORPORATED INTO THE FILING BEFORE THE RETURN IS FINALIZED. THE RETURN IS PROVIDED TO THE GOVERNING BODY BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WHEN A POTENTIAL CONFLICT OF INTEREST EXISTS UPON THE PART OF A TRUSTEE, THE TRUSTEE SHALL MAKE KNOWN THE POTENTIAL CONFLICT TO THE BOARD OR COMMITTEE ON WHICH THE TRUSTEE SERVES AND SHALL ABSENT SELF FROM THE MEETING DURING THE TIME THE SUBJECT MATTER OF THE POTENTIAL CONFLICT OF INTEREST IS TO BE DISCUSSED AND VOTED UPON. THE CFO MONITORS ALL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE CONDUCTS AS ANNUAL REVIEW AND ADJUSTS SALARIES ACCORDINGLY FOR TOP MANAGEMENT OFFICIAL. THE CEO CONDUCTS AN ANNUAL PERFORMANCE REVIEW FOR ALL TOP LEVEL (KEY) EMPLOYEES BOTH OF THESE ACTS LAST OCCURRED IN 2018. FORM 990, PART VI, SECTION C, 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 OF SWAP -349,974.