Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $453,000

• 1e · Government grants (contributions)

  $1,152,552

• 1f · All other contributions, gifts and grants

  $40,692,738

• 1g · Noncash contributions included above

  $3,465,077

• 2a · Program service revenue: Tuition & Fees

  total $100,333,664 · related or exempt $100,333,664

• 2b · Program service revenue: Auxiliary Revenue

  total $22,889,274 · related or exempt $22,889,274

• 2c · Program service revenue: Public Service Revenues

  total $2,542,039 · related or exempt $2,542,039

• 2d · Program service revenue: Minor Program Revenues

  total $5,169,204 · related or exempt $5,169,204

• 2e · Program service revenue: Student Insurance

  total $282,442 · related or exempt $282,442

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $16,853,105 · unrelated business $104,183 · excluded $16,748,922

• 5 · Royalties

  total $4,879 · excluded $4,879

• 6a · Gross rents

  real property $37,833

• 6c · Rental income or loss

  real property $37,833 · personal property $0

• 6d · Net rental income or loss

  total $37,833 · unrelated business $398 · excluded $37,435

• 7a · Gross sales of assets other than inventory

  securities $219,475,237 · other assets $1,867,544

• 7b · Less cost or other basis and sales expenses

  securities $204,187,624 · other assets $1,905,824

• 7c · Gain or loss

  securities $15,287,613 · other assets -$38,280

• 7d · Net gain or loss

  total $15,249,333 · excluded $15,249,333

• 11a · Other revenue: Trust Company Fees

  total $836,102 · related or exempt $817,075 · unrelated business $19,027

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $836,102

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,060,385 · program services $1,060,385

• 2 · Grants to domestic individuals

  total $47,559,533 · program services $47,559,533

• 3 · Grants to foreign organizations and individuals

  total $19,800 · program services $19,800

• 5 · Compensation of officers, directors and key employees

  total $2,836,300 · program services $765,801 · management and general $1,730,143 · fundraising $340,356

• 6 · Compensation of disqualified persons

  total $296,494 · management and general $296,494

• 7 · Other salaries and wages

  total $58,308,909 · program services $43,517,848 · management and general $10,126,348 · fundraising $4,664,713

• 8 · Pension plan contributions

  total $2,580,755 · program services $1,926,102 · management and general $448,193 · fundraising $206,460

• 9 · Other employee benefits

  total $9,299,396 · program services $6,940,443 · management and general $1,615,001 · fundraising $743,952

• 10 · Payroll taxes

  total $4,152,735 · program services $3,099,322 · management and general $721,194 · fundraising $332,219

• 11b · Fees: legal

  total $795,747 · management and general $795,747

• 11c · Fees: accounting

  total $237,769 · management and general $237,769

• 11f · Fees: investment management

  total $441,326 · management and general $441,326

• 11g · Fees: other

  total $4,801,593 · program services $3,553,179 · management and general $1,200,398 · fundraising $48,016

• 12 · Advertising and promotion

  total $1,182,115 · program services $319,171 · management and general $721,090 · fundraising $141,854

• 13 · Office expenses

  total $2,441,692 · program services $1,766,438 · management and general $602,002 · fundraising $73,252

• 14 · Information technology

  total $3,011,756 · program services $832,906 · management and general $2,178,850

• 16 · Occupancy

  total $8,639,170 · program services $8,379,995 · management and general $172,783 · fundraising $86,392

• 17 · Travel

  total $3,170,689 · program services $2,821,913 · management and general $126,828 · fundraising $221,948

• 19 · Conferences, conventions and meetings

  total $345,164 · program services $249,708 · management and general $95,456

• 20 · Interest

  total $4,037,188 · management and general $4,037,188

• 22 · Depreciation, depletion and amortization

  total $15,606,763 · program services $13,684,792 · management and general $1,921,971

• 23 · Insurance

  total $2,051,893 · program services $529,933 · management and general $1,521,960

• 24a · Other expenses: HOSPITALITY

  total $1,391,943 · program services $1,006,999 · management and general $384,944

• 24b · Other expenses: PRINTING AND PUBLICATIONS

  total $789,208 · program services $157,842 · management and general $623,474 · fundraising $7,892

• 24c · Other expenses: Professional Development

  total $304,953 · program services $207,368 · management and general $82,337 · fundraising $15,248

• 24d · Other expenses: Dues/Memberships

  total $406,186 · program services $259,959 · management and general $138,103 · fundraising $8,124

• 24e · All other expenses

  total $9,214,375 · program services $6,510,160 · management and general $2,704,215 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $45,823,730 · end of year $51,738,926

• 3 · Pledges and grants receivable

  beginning of year $5,859,898 · end of year $14,431,680

• 4 · Accounts receivable

  beginning of year $2,942,184 · end of year $3,767,505

• 5 · Loans and receivables from officers and key people

  beginning of year $36,050 · end of year $18,294

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $3,860,553 · end of year $3,904,916

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,281,578 · end of year $2,578,680

• 10a · Land, buildings and equipment: cost or other basis

  $498,779,169

• 10b · Land, buildings and equipment: accumulated depreciation

  $249,154,107

• 10c · Land, buildings and equipment, net

  beginning of year $254,095,005 · end of year $249,625,062

• 11 · Investments: publicly traded securities

  beginning of year $626,980,793 · end of year $655,915,226

• 12 · Investments: other securities

  beginning of year $90,802,469 · end of year $108,629,045

• 13 · Investments: program-related

  beginning of year $992,027 · end of year $1,437,569

• 15 · Other assets

  beginning of year $13,540,281 · end of year $12,814,801

• 17 · Accounts payable and accrued expenses

  beginning of year $12,077,404 · end of year $11,807,935

• 19 · Deferred revenue

  beginning of year $5,033,792 · end of year $5,190,303

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $72,000,000 · end of year $72,000,000

• 25 · Other liabilities

  beginning of year $101,341,856 · end of year $91,635,594

• 27 · Net assets without donor restrictions

  beginning of year $376,115,076 · end of year $349,472,057

• 28 · Net assets with donor restrictions

  beginning of year $481,646,440 · end of year $574,755,815

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

The President of the College receives a housing allowance that is excluded from taxable income pursuant to IRC §119.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• WHEATON COLLEGE TRUST COMPANY NA

  C Corporation · TRUST ADMINISTRATION · IL · 99.7% owned · share of income $1,333,940 · share of assets $3,911,263 · controlled entity

  Directly controlled by WHEATON COLLEGE

• Charitable Remainder Trust

  Trust · Trust · IL · controlled entity

  Directly controlled by Wheaton College