INDIANA WESLEYAN UNIVERSITY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1920

Legal Domicile

Phone

7656772947

Tax Period

2023-07-01 to 2024-06-30

INDIANA WESLEYAN UNIVERSITY, founded in 1920, is a major nonprofit in the Education sector that reported $226.0M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $213.0M left a modest 6% surplus.

Mission

INDIANA WESLEYAN UNIVERSITY'S PURPOSE IS TO SEARCH FOR TRUTH, BY STUDY IN LIBERAL ARTS AND IN PROFESSIONAL EDUCATION WITHIN THE FRAMEWORK OF CHRISTIAN FAITH AND PHILOSOPHY SO THAT THE PERSON IS DEVELOPED FOR SERVICE TO GOD AND MAN IN THE CHURCH AND IN SOCIETY.

Program Service Accomplishments

Program 1

Expenses: $190,169,830 Revenue: $197,491,436

INSTRUCTION:THIS PROGRAM ENCOMPASSES A WIDE RANGE OF INSTRUCTIONS IN LIBERAL ARTS CURRICULUM, AS WELL AS PROVIDING TEXTBOOK DISTRIBUTION AND RESIDENTIAL DINING SERVICES FOR STUDENTS. BOOKSTORE: THIS PROGRAM SERVICE PROVIDES TEXTBOOK DISTRIBUTION FOR STUDENTS. FOOD SERVICE: THIS PROGRAM SERVICE PROVIDES STUDENTS RESIDENTIAL DINING SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,552,084

Program Service Revenue $197,491,436

Investment Income $12,303,726

Other Revenue $701,810

TOTAL REVENUE $226,049,056

Expense Breakdown

Grants Paid $34,180,022

Salaries & Benefits $92,872,071

Fundraising Expenses $2,490,580

Program Expenses $190,169,830

Other Expenses $85,965,578

TOTAL EXPENSES $213,017,671

Year-over-Year Comparison

	2023	2022	Change
Revenue	$226,049,056	$197,828,333	+0.1%
Expenses	$213,017,671	$200,454,828	+0.1%
Net Income	$13,031,385	$-2,626,495	-6.0%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

3673

Volunteers

374

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$709,190

Total Directors

$399,187

Key Employees

$171,350

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	University President	39.0	Officer Director	$327,158	$66,034	$393,192
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee-Began March 2024	1.0	Director	$0	$0	$0
N/A	Trustee (END 04/24)	1.0	Director	$5,995	$0	$5,995
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee (END 07/23)	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee-Began Nov 2023	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Executive VP & CFO (END 11/24)	39.0	Officer	$184,725	$18,126	$202,851
N/A	Interim CFO (BEGAN 11/24)	40.0	Officer	$102,090	$11,057	$113,147
N/A	Chancellor of National and Global	39.0	Key Emp	$165,304	$6,046	$171,350
N/A	Professor	40.0	Highest	$114,069	$35,418	$149,487
N/A	EX. DIRECTOR PARTNERSHIP DEV. & OPS.	39.0	Highest	$156,738	$13,808	$170,546
N/A	Lead Coordinator of International Studies	40.0	Highest	$143,093	$3,926	$147,019
N/A	Professor/Director of Aviation/Dept Chair	40.0	Highest	$129,247	$10,363	$139,610
N/A	Chief Marketing Officer	40.0	Highest	$140,418	$32,435	$172,853
N/A	Executive Vice President, Seminary	40.0		$73,649	$36,330	$109,979

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$226,049,056	$213,017,671	$614,595,507	$13,031,385
2023	$197,828,333	$200,454,828	$572,069,015	$-2,626,495
2022	$212,201,058	$213,678,137	$535,078,455	$-1,477,079
2021	$211,253,299	$205,931,732	$576,888,484	$5,321,567
2020	$208,118,995	$207,113,282	$509,326,465	$1,005,713
2019	$219,854,843	$211,866,407	$521,839,306	$7,988,436