2012-03-01T09:36:48-08:00 2011-05-31 TD&T FINANCIAL GROUP PC 317 HIGH AVE E OSKALOOSA IA 525772823 990 2010-06-01 420680332 IOWA WESLEYAN COLLEGE IOWA 3193856206 601 N MAIN STREET MT PLEASANT IA 52641 PHYLLIS WHITNEY 2012-02-13 Joseph B Ryan CPA 6416722523 2010 2016-02-24 21:20:13Z JAY K SIMMONS 601 NORTH MAIN STREET MT PLEASANT IA 52641 18995300 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 37 528 50 0 6794318 2330639 17500520 16258263 232303 349373 59100 57025 24586241 18995300 6134020 5329873 0 7394462 7425588 0 349738 6759294 6814124 20287776 19569585 4298465 -574285 38525459 44465380 11499452 16155442 27026007 28309938 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 7256703 13276388 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 1,479 FULL AND PART TIME STUDENTS ENROLLED DURING THE FALL AND SPRING SEMESTERS. 5329873 5329873 SCHOLARSHIP PROGRAMS FOR SCHOLARSHIPS AND GRANTS TO 739 STUDENTS. 2510521 110837 STUDENTS SERVICES, INCLUDING STUDENT DEVELOPMENT, ACADEMIC AND CAREER COUNCELING, INTERCOLLEGIATE ATHLETICS, FINANCIAL ASSISTANCE AND OTHER SERVICES, WAS PROVIDED TO 1,479 FULL AND PART TIME STUDENTS. 1839555 2780148 16936652 true true false false false false false true false true true false false true true false true false true false false false false false false false false false true true true false true true false false false false true true true true true false false false false false false false false true 15 0 true 528 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 37 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 WINIFRED THOMAS 1.00 X 0 0 0 WARREN LUDVIGSEN 50.00 X X 70108 0 24458 WALLACE LOH 1.00 X 0 0 0 W CHRISTINE RAUSCHER 1.00 X 0 0 0 VINCENT NACCARATO 1.00 X 0 0 0 STEVE HEDLUND 1.00 X X 0 0 0 STEVE DIXON 40.00 X X 39811 0 11322 ROBERT MILLER 1.00 X 0 0 0 RICHARD OBERMAN 1.00 X 0 0 0 RICHARD FERGUSON 1.00 X X 0 0 0 RANDALL PERRY 1.00 X 0 0 0 PHYILLIS WHITNEY 50.00 X X 138500 0 39142 NANCY ERICKSON 50.00 X X 92000 0 17536 MICHAEL MORGAN 1.00 X 0 0 0 MARY ELGAR 1.00 X 0 0 0 MARK PETTY 50.00 X 62408 0 18282 LORI WILLIAMS-WRIGHT 1.00 X X 0 0 0 LINDA BUCHANAN 50.00 X 48615 0 16870 KENT SWAIM 1.00 X 0 0 0 KENNETH ROYAR 1.00 X X 0 0 0 KATHY NELLOR 1.00 X 0 0 0 JULIUS TRIMBLE 1.00 X 0 0 0 JOY ANDERSON 1.00 X 0 0 0 JOHN CAVANAH 1.00 X X 0 0 0 JOHN BADGER 1.00 X 0 0 0 JOANNA WENDEL 1.00 X 0 0 0 JERRY THOMAS 50.00 X X 36176 0 6859 JAY K SIMMONS 50.00 X X 169000 0 44949 JASON KIESEY 1.00 X 0 0 0 JAMES PEDRICK 1.00 X X 0 0 0 JD SCHIMMELPFENNIG 1.00 X 0 0 0 HUGH STAFFORD 1.00 X X 0 0 0 HERB SHAFER 1.00 X 0 0 0 GARY SHAW 1.00 X 0 0 0 ELIZABETH GARRELS 1.00 X 0 0 0 DONALD WICK 1.00 X 0 0 0 DON WILEY 1.00 X 0 0 0 DAVID STANLEY 1.00 X 0 0 0 DAVID MCCOID 1.00 X 0 0 0 CHRISTOPHER VAN GELS 1.00 X 0 0 0 CHARLES ESPY JR 1.00 X 0 0 0 CAROL NEMITZ 40.00 X X 14867 0 0 BYRON JOHNSON 5.00 X X 0 0 0 A LOWELL DOUD 1.00 X 0 0 0 671485 179418 2 false true false SODEXHO AMERICA 601 N MAIN MT PLEASANT IA 52641 FOOD SERVICE 841140 PREMIER COMMUNICATIONS 117 Rivers Edge Dr Savannah GA 31406 PROMOTIONAL MAILINGS 167212 NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGR GA 30241 MAINTENANCE 656000 GLAHI TRUST 200 S WACKER SUITE 1000 CHICAGO IL 60606 INSURANCE 849977 EIIA 200 SOUTH WACKER DRIVE SUITE 1000 CHICAGO IL 60606 INS. ADMINISTRATION 192379 6 170714 2159925 166553 2330639 TUITION AND FEES 13276388 13276388 ROOM & BOARD 2435313 2435313 MISC FEES 107411 107411 FINANCE CHARGE 94316 94316 BOOKSTORE 344835 344835 16258263 349373 349373 0 0 57025 57025 57025 57025 0 0 0 0 0 18995300 13276388 3388273 0 5329873 5329873 0 0 850903 175021 538281 137601 0 4896390 4485184 332365 78841 312015 255120 45008 11887 973077 795639 140366 37072 393203 300563 76772 15868 0 14465 495 13970 54793 54793 0 0 0 37941 2396 35545 28589 27163 1246 180 0 0 0 1049367 1005094 3435 40838 205192 177605 26142 1445 0 25473 19035 6438 448177 412323 31373 4481 0 974485 896526 68214 9745 0 SUPPLIES 522161 421843 96928 3390 FOOD SERVICE CONTRACT 1540024 1540024 COST OF TEXTBOOKS SOLD 235592 235592 CONTRACTED SERVICES 463694 369361 94333 BAD DEBTS EXPENSE 187214 187214 1026957 487795 530772 8390 19569585 16936652 2283195 349738 2485 4185 2832456 2358252 217225 17975 277121 470596 0 0 538893 480789 0 559230 565192 36588430 14912099 21763518 21676331 7191152 8612733 1500000 1000000 0 0 3643379 9279327 38525459 44465380 1404130 1965269 149822 107342 409290 473129 5365000 12265000 3803926 1045192 367284 299510 11499452 16155442 X 14940136 15852897 163858 159937 11922013 12297104 27026007 28309938 38525459 44465380 X -574285 1858216 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 10680370 178149 1627323 188738 12297104 9600145 340197 925705 185677 10680370 10883670 1395787 -2443019 236293 9600145 1.00000 true false false 363027 363027 58150 26552491 8023035 18587606 783752 546429 237323 8041292 5728980 2312312 789718 613655 176063 21676331 UNAMORTIZED LOAN COSTS 287593 PROPERTY HELD FOR SALE 223074 CASH RESTRICTED FOR CONSTRUCTION 5437106 BENEFICIAL INTEREST IN PERPETUAL TR 2008742 9279327 STUDENT DEPOSITS 18580 ANNUITY OBLIGATIONS 280930 299510 18995300 19569585 -574285 1887239 -29023 1858216 1283931 15612441 1887239 188211 2075450 13536991 5458309 5458309 18995300 14328526 14328526 5241059 5241059 19569585 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 $5241059 OTHER ADJUSTMENTS $0 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 $5241059 OTHER CHANGES $0 COLLECTION OF PRIOR YEARS PLEDGES $217250 Part XII, Line 2d Part XII, Line 2d: Other revenue amounts included in F/S but not included on form 990 CHANGE IN SPLIT INT AGREEMENTS $170236 CURRENT YEARS PLEDGE RECEIVABLE $17975 Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances CHANGE IN SPLIT INT AGREEMENTS $170236 CURRENT YEARS PLEDGES $17975 OTHER $16 PRIOR YEAR PLEDGE REVENUE $ -217250 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 OTHER GRANTS AND SCHOLARSHIPS 51 95696 BOOK INSTITUTION SCHOLARSHIPS AND GRANTS 515 5145363 BOOK FEDERAL SUPPLEMENTAL EDUC OPPOR GRANTS 173 88814 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 PHYILLIS WHITNEY 138500 25040 14102 177642 JAY K SIMMONS 169000 28750 16199 213949 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 3780000 4000000 2272417 80000 120000 1673507 2002 false true true true 7000000 5437106 112100 1450794 false false false true 5750000 373672 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 ROBERT MILLER SEE SCHEDULE O 1500000 SEE SCHEDULE O false DON WILEY SEE SCHEDULE O 1500000 SEE SCHEDULE O false DON WILEY SEE SCHEDULE O 7000000 SEE SCHEDULE O false KATHY NELLOR SEE SCHEDULE O 1500000 SEE SCHEDULE O false ROBERT MILLER SEE SCHEDULE O 7000000 SEE SCHEDULE O false KATHY NELLOR SEE SCHEDULE O 7000000 SEE SCHEDULE O false DON WILEY SEE SCHEDULE O 38497 SEE SCHEDULE O false X 1 4850 FMV X 5365 FMV X 11978 FMV X 4 136841 FMV X 1 2130 FMV false true true Part I, Line 32, Hire and Use of Third Parties THE COLLEGE USES AN INDEPENDENT BROKER TO SELL SECURITIES RECEIVED AS A NON CASH CONTRIBUTION. FORM 990, SCHEDULE L, PART IV, LINE (7) ROBERT MILLER, 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. MILLER ABSTAINS FROM ALL VOTING REGARDING TRANSACTIONS BETWEEN THE BANK AND THE COLLEGE. FORM 990, SCHEDULE L, PART IV, LINE (6) 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 (5) DON WILEY, BOARD TRUSTEE, IS ALSO A BOARD MEMBER FOR TWO RIVERS BANK AND TRUST. THE COLLEGE OBTAINED A $7,000,000 BOND ISSUE DURING THE YEAR FROM TWO RIVERS BANK AND TRUST. SEE ALSO FORM 990, SCHEDULE K, PART I, LINE (B) FOR FURTHER INFORMATION RELATED TO THE BOARD ISSUE. MR. WILEY ABSTAINS FROM ALL VOTING REGARDING TRANSACTIONS BETWEEN THE BANK AND THE COLLEGE. FORM 990, SCHEDULE L, PART IV, LINE (4) 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 (3) ROBERT MILLER, BOARD TRUSTEE, IS ALSO A BOARD MEMBER FOR TWO RIVERS BANK AND TRUST. THE COLLEGE OBTAINED A $7,000,000 BOND ISSUE DURING THE YEAR FROM TWO RIVERS BANK AND TRUST. SEE ALSO FORM 990, SCHEDULE K, PART I, LINE (B) FOR FURTHER INFORMATION RELATED TO THE BOARD ISSUE. MR. MILLER 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 MARKET PRESIDENT OF TWO RIVERS BANK & TRUST. THE COLLEGE OBTAINED A $7,000,000 BOND ISSUE DURING THE YEAR FROM TWO RIVERS BANK & TRUST. SEE ALSO FORM 990, SCHEDULE K, PART I, LINE (B) FOR FURTHER INFORMATION RELATED TO THE BOND ISSUE. 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. SPECIFICALLY, REPAIRS TO THE HVAC SYSTEM AND A COMPRESSOR REPLACEMENT WERE COMPLETED DURING THE YEAR. 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 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 1,479 FULL AND PART TIME STUDENTS.