Wheaton College

EIN: 362182171 501(c)(3) Education

Wheaton, IL

Total Revenue
$181,635,763
Total Expenses
$175,303,151
Total Assets
$1,048,214,568
Net Assets
$857,761,516
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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
1860
Legal Domicile
IL
Phone
6307525970
Tax Period
2022-07-01 to 2023-06-30

Wheaton College, founded in 1860, is a major nonprofit in the Education sector that reported $181.6M in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $175.3M left a modest 3% surplus.

Mission

Wheaton College serves Jesus Christ and advances His kingdom through excellence in liberal arts and graduate programs that educate the whole person to build the church and benefit society worldwide.

Program Service Accomplishments

Program 1
Expenses: $98,141,138 Revenue: $99,839,556

EDUCATION AND INSTRUCTION - THE COLLEGE OFFERS UNDERGRADUATE DEGREES IN 47 AREAS OF MAJOR STUDY INCLUDING 7 IN THE CONSERVATORY; 13 MASTER OF ARTS DEGREES AND 3 DOCTORAL DEGREES. THERE ARE...

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EDUCATION AND INSTRUCTION - THE COLLEGE OFFERS UNDERGRADUATE DEGREES IN 47 AREAS OF MAJOR STUDY INCLUDING 7 IN THE CONSERVATORY; 13 MASTER OF ARTS DEGREES AND 3 DOCTORAL DEGREES. THERE ARE APPROXIMATELY 2900 STUDENTS ENROLLED AT THE COLLEGE.

Program 2
Expenses: $27,233,626 Revenue: $271,894

STUDENT SERVICES - PROGRAMS ARE PROVIDED FOR THE ENRICHMENT OF THE STUDENTS TO ALLOW THEM TO EXPERIENCE LIFE AS A CHRISTIAN COMMUNITY. WHEATON COLLEGE ATHLETICS SPONSORS 21 SPORTS FOR MALE AND FEMALE...

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STUDENT SERVICES - PROGRAMS ARE PROVIDED FOR THE ENRICHMENT OF THE STUDENTS TO ALLOW THEM TO EXPERIENCE LIFE AS A CHRISTIAN COMMUNITY. WHEATON COLLEGE ATHLETICS SPONSORS 21 SPORTS FOR MALE AND FEMALE STUDENT ATHLETES.

Program 3
Expenses: $14,244,747 Revenue: $21,347,505

AUXILIARY ENTERPRISES - THE COLLEGE PROVIDES ROOM AND BOARD FOR ITS STUDENTS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $34,317,420
Program Service Revenue $127,639,901
Investment Income $18,740,032
Other Revenue $938,410
TOTAL REVENUE $181,635,763

Expense Breakdown

Grants Paid $44,749,799
Salaries & Benefits $75,810,679
Fundraising Expenses $7,002,148
Program Expenses $144,177,192
Other Expenses $54,742,673
TOTAL EXPENSES $175,303,151

Year-over-Year Comparison

2022 2021 Change
Revenue $181,635,763 $231,489,050 -0.2%
Expenses $175,303,151 $169,298,848 +0.0%
Net Income $6,332,612 $62,190,202 -0.9%
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

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Governance

Voting Members
18
Independent Members
15
Employees
2974
Volunteers
50

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
10
$1,978,965
Total Directors
18
$594,484
Key Employees
3
$672,464
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Vice Chair/Trustee 2.0
Officer Director
$0 $0 $0
N/A Chair/Trustee 2.0
Officer Director
$0 $0 $0
N/A Secretary/Trustee 2.0
Officer Director
$0 $0 $0
N/A President/Trustee 40.0
Officer Director
$380,220 $136,261 $516,481
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$73,380 $4,623 $78,003
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A Trustee 2.0
Director
$0 $0 $0
N/A VP for Finance & Operations, Treasurer 40.0
Officer
$280,866 $50,931 $331,797
N/A Provost 40.0
Officer
$224,322 $46,060 $270,382
N/A VP for Advancement & Alumni Relations 40.0
Officer
$232,570 $46,344 $278,914
N/A Vice President - Student Development 40.0
Officer
$174,366 $90,688 $265,054
N/A Chief Enrollment Management Officer 40.0
Officer
$173,951 $48,426 $222,377
N/A Chief Intercultural Engagement Officer (From July, 2022) 40.0
Officer
$77,872 $16,088 $93,960
N/A Chief Information Officer (from January, 2022) 40.0
Key Emp
$207,509 $19,775 $227,284
N/A Director of Facilities 40.0
Key Emp
$161,604 $36,321 $197,925
N/A Investment Manager 40.0
Key Emp
$181,028 $66,227 $247,255
N/A Controller 40.0
Highest
$146,046 $38,567 $184,613
N/A DEAN & EXEC DIR WCBGC 0.0
Highest
$182,145 $52,316 $234,461
N/A Professor/Exec Director of HDI 40.0
Highest
$154,264 $42,007 $196,271
N/A Professor 40.0
Highest
$166,612 $37,436 $204,048
N/A Dean of Music & Communications 40.0
Highest
$147,013 $35,850 $182,863
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 No data No data No data No data
2023 $181,635,763 $175,303,151 $1,048,214,568 $6,332,612
2022 $231,489,050 $169,298,848 $1,009,461,058 $62,190,202
2021 $280,776,360 $163,618,905 $1,105,725,018 $117,157,455
2020 $176,853,672 $162,031,167 $933,202,060 $14,822,505
2019 $212,894,342 $160,312,654 $930,846,496 $52,581,688
2018 $190,097,750 $155,118,932 $903,412,441 $34,978,818
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