ILLINOIS 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

1850

Legal Domicile

Principal Officer

CRAIG MAYNARD

Phone

3095563021

Tax Period

2024-08-01 to 2025-07-31

ILLINOIS WESLEYAN UNIVERSITY, founded in 1850, is a mid-sized nonprofit in the Education sector that reported $78.1M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Net assets of $344.7M represent 53 months of operating reserves.

Mission

THE UNIVERSITY STRIVES TO ATTAIN THE IDEAL OF A LIBERAL ARTS EDUCATION WHILE PROVIDING UNIQUE OPPORTUNITIES WITH ITS DISTINCTIVE CURRICULA AND PROGRAMS. A LIBERAL ARTS EDUCATION FOSTERS CREATIVITY, CRITICAL THINKING, EFFECTIVE COMMUNICATION, STRENGTH OF CHARACTER AND A SPIRIT OF INQUIRY; IT DEEPENS THE SPECIALIZED KNOWLEDGE OF A DISCIPLINE WITH A COMPREHENSIVE WORLD VIEW.

Program Service Accomplishments

Program 1

Expenses: $75,985,509 Revenue: $52,208,366

ILLINOIS WESLEYAN UNIVERSITY PROVIDES A RICH LEARNING ENVIRONMENT FOR APPROXIMATELY 1,600 UNDERGRADUATE STUDENTS WITH EXTENSIVE PERSONAL ATTENTION. THE EXPERIENTIAL LEARNING MODEL FOSTERS CREATIVITY, CRITICAL THINKING, EFFECTIVE COMMUNICATION, STRENGTH OF CHARACTER AND A SPIRIT OF INQUIRY. THE INSTITUTION SERVES STUDENTS PURSING BACCALAUREATE DEGREES IN THE LIBERAL ARTS, FINE ARTS AND PROFESSIONAL PROGRAMS AS WELL AS INTERDISCIPLINARY STUDY AND OFF CAMPUS LEARNING. SPECIFIC DISCIPLINES OF EMPHASIS INCLUDE BIOLOGY, NURSING, ACCOUNTING, BUSINESS, THEATER AND MUSIC. THE UNIVERSITY OFFERS A ROBUST STUDENT LIFE AND RESIDENTIAL EXPERIENCE TO CREATE AN INCLUSIVE COMMUNITY FOR 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,408,584

Program Service Revenue $52,208,366

Investment Income $8,464,860

Other Revenue $-13,325

TOTAL REVENUE $78,068,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $39,376,319

Fundraising Expenses $0

Program Expenses $75,985,509

Other Expenses $40,621,657

TOTAL EXPENSES $79,997,976

Year-over-Year Comparison

	2024	2023	Change
Revenue	$78,068,485	$66,128,003	+0.2%
Expenses	$79,997,976	$77,950,182	+0.0%
Net Income	$-1,929,491	$-11,822,179	-0.8%

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

1692

Volunteers

600

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

$467,500

Total Directors

Key Employees

$838,558

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY SZERLONG	CHAIR	2.00	Officer Director	$0	$0	$0
JOHN DICKENS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
THOMAS LAWRENCE	VICE CHAIR	2.00	Officer Director	$0	$0	$0
EDWARD RUST JR	VICE CHAIR	2.00	Officer Director	$0	$0	$0
ROBERT ZIMMERMANN	TREASURER	2.00	Officer Director	$0	$0	$0
HERBERT GETZ	SECRETARY	2.00	Officer Director	$0	$0	$0
ROD ADAMS	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD AMES	TRUSTEE	2.00	Director	$0	$0	$0
PHYLLIS BARKER	TRUSTEE	2.00	Director	$0	$0	$0
FRANK BEARD	TRUSTEE	2.00	Director	$0	$0	$0
DIRK BEHRENDS	TRUSTEE	2.00	Director	$0	$0	$0
ERIC BIEBER	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL CLARK	TRUSTEE	2.00	Director	$0	$0	$0
MARK DENZLER	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN DUDASH	TRUSTEE	2.00	Director	$0	$0	$0
ANN MARQUIS FISHER	TRUSTEE	2.00	Director	$0	$0	$0
RONALD GREENE	TRUSTEE	2.00	Director	$0	$0	$0
DEON HORNSBY	TRUSTEE	2.00	Director	$0	$0	$0
JOHN HORTON	TRUSTEE	2.00	Director	$0	$0	$0
NANCY HUTSON	TRUSTEE	2.00	Director	$0	$0	$0
MARK ISRAEL	TRUSTEE	2.00	Director	$0	$0	$0
JIM JOSLIN	TRUSTEE	2.00	Director	$0	$0	$0
COLLEEN KANNADAY	TRUSTEE	2.00	Director	$0	$0	$0
DANIELLE KAYS	TRUSTEE	2.00	Director	$0	$0	$0
KATHY LAREY LEWTON	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS MCKINNEY	TRUSTEE	2.00	Director	$0	$0	$0
LEAH MERRIFIELD	TRUSTEE	2.00	Director	$0	$0	$0
SUNDEEP MULLANGI	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS NEIS	TRUSTEE	2.00	Director	$0	$0	$0
LAURA RANDOLPH	TRUSTEE	2.00	Director	$0	$0	$0
MARTINA SCANLAN	TRUSTEE	2.00	Director	$0	$0	$0
COREY SCHIELER	TRUSTEE	2.00	Director	$0	$0	$0
ANDY SHIRK	TRUSTEE	2.00	Director	$0	$0	$0
KIMBERLY STERLING	TRUSTEE	2.00	Director	$0	$0	$0
MARC TALLUTO	TRUSTEE	2.00	Director	$0	$0	$0
DERRICK TILLMAN-KELLY	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN WANNEMACHER	TRUSTEE	2.00	Director	$0	$0	$0
STEPHANIE WHYTE	TRUSTEE	2.00	Director	$0	$0	$0
JOSH YOUNT	TRUSTEE	2.00	Director	$0	$0	$0
SHEAHON ZENGER	PRESIDENT	40.00	Officer	$212,500	$38,932	$251,432
DAVID MARVIN	INTERIM PROVOST	40.00	Officer	$176,752	$39,316	$216,068
LEANN HUGHES	VP ENROLLMENT & MARKETING	40.00	Key Emp	$190,000	$49,342	$239,342
AMBER KUJATH	PROFESSOR DIRECTOR OF NURSING	40.00	Key Emp	$160,000	$45,168	$205,168
KARLA CARNEY-HALL	VP STUDENT AFFAIRS	40.00	Key Emp	$160,391	$32,996	$193,387
BRYAN MCCANNON	DEAN OF SCHOOL OF BUSINESS & ECONOMICS	40.00	Key Emp	$175,975	$24,686	$200,661
MARK BRODL	BIOLOGY PROFESSOR	40.00	Highest	$198,112	$41,625	$239,737
STEVEN SEIBRING	VP EXTERNAL RELATIONSHIPS	40.00	Highest	$208,100	$36,450	$244,550
JOHN QUARTON	DIRECTOR PETRICK IDEA CENTER	40.00	Highest	$173,400	$39,922	$213,322
MICHAEL WAGNER	ATHLETIC DIRECTOR	40.00	Highest	$128,031	$31,213	$159,244
DAKESA PINA	VP OF STUDENT RETENTION	40.00	Highest	$134,100	$40,499	$174,599
S GEORGIA NUGENT	FORMER OFFICER	40.00		$297,917	$38,660	$336,577

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	$78,068,485	$79,997,976	$449,834,382	$-1,929,491
2024	$66,128,003	$77,950,182	$436,309,632	$-11,822,179
2023	$61,897,510	$76,677,351	$425,289,918	$-14,779,841
2022	$81,766,269	$70,495,801	$432,672,024	$11,270,468
2021	$142,868,777	$67,728,730	$439,789,641	$75,140,047
2020	$72,297,405	$70,648,924	$377,291,473	$1,648,481
2019	$74,052,550	$76,879,835	$376,723,932	$-2,827,285
2018	$68,166,368	$75,658,407	$381,150,421	$-7,492,039