Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $233,285

• 1f · All other contributions, gifts and grants

  $2,715,748

• 1g · Noncash contributions included above

  $24,635

• 2a · Program service revenue: TUITION AND FEES

  total $23,055,872 · related or exempt $23,055,872

• 2b · Program service revenue: AUXILIARY INCOME

  total $5,236,336 · related or exempt $5,236,336

• 3 · Investment income

  total $997,174 · excluded $997,174

• 5 · Royalties

  total $2,492 · excluded $2,492

• 6a · Gross rents

  real property $41,431

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $41,431

• 6d · Net rental income or loss

  total $41,431 · excluded $41,431

• 7a · Gross sales of assets other than inventory

  securities $14,707,968 · other assets $4,222

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

  securities $13,287,053 · other assets $0

• 7c · Gain or loss

  securities $1,420,915 · other assets $4,222

• 7d · Net gain or loss

  total $1,425,137 · excluded $1,425,137

• 8a · Fundraising events: gross income

  $46,081

• 8b · Fundraising events: direct expenses

  $15,443

• 8c · Net income from fundraising events

  total $30,638 · excluded $30,638

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $13,670,724 · program services $13,670,724

• 5 · Compensation of officers, directors and key employees

  total $1,052,679 · management and general $937,042 · fundraising $115,637

• 7 · Other salaries and wages

  total $6,935,660 · program services $4,810,492 · management and general $1,693,340 · fundraising $431,828

• 8 · Pension plan contributions

  total $201,554 · program services $137,998 · management and general $49,691 · fundraising $13,865

• 9 · Other employee benefits

  total $1,441,392 · program services $1,173,998 · management and general $204,542 · fundraising $62,852

• 10 · Payroll taxes

  total $566,746 · program services $401,635 · management and general $124,782 · fundraising $40,329

• 11a · Fees: management

  total $210,497 · program services $190,289 · management and general $18,524 · fundraising $1,684

• 11b · Fees: legal

  total $72,873 · management and general $72,873

• 11c · Fees: accounting

  total $99,735 · management and general $99,735

• 11g · Fees: other

  total $326,251 · program services $294,931 · management and general $28,710 · fundraising $2,610

• 12 · Advertising and promotion

  total $144,384 · program services $130,523 · management and general $12,706 · fundraising $1,155

• 13 · Office expenses

  total $434,678 · program services $392,949 · management and general $38,252 · fundraising $3,477

• 14 · Information technology

  total $819,882 · program services $741,173 · management and general $72,150 · fundraising $6,559

• 16 · Occupancy

  total $1,988,261 · program services $1,797,388 · management and general $174,967 · fundraising $15,906

• 17 · Travel

  total $707,835 · program services $108,089 · management and general $559,008 · fundraising $40,738

• 19 · Conferences, conventions and meetings

  total $381,026 · program services $344,448 · management and general $33,530 · fundraising $3,048

• 20 · Interest

  total $683,408 · program services $617,801 · management and general $60,140 · fundraising $5,467

• 22 · Depreciation, depletion and amortization

  total $1,355,382 · program services $1,225,265 · management and general $119,274 · fundraising $10,843

• 23 · Insurance

  total $593,378 · program services $536,414 · management and general $52,217 · fundraising $4,747

• 24a · Other expenses: ATHLETICS

  total $1,269,201 · program services $1,269,201

• 24b · Other expenses: OTHER EXPENSES

  total $865,994 · program services $778,668 · management and general $80,048 · fundraising $7,278

• 24c · Other expenses: UTILITIES

  total $745,828 · program services $674,228 · management and general $65,633 · fundraising $5,967

• 24d · Other expenses: INSTRUCTIONAL

  total $577,093 · program services $577,093

• 24e · All other expenses

  total $676,722 · program services $116,703 · management and general $558,986 · fundraising $1,033

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $100,987 · end of year $79,506

• 2 · Savings and temporary cash investments

  beginning of year $2,730,865 · end of year $2,384,347

• 3 · Pledges and grants receivable

  beginning of year $663,982 · end of year $519,994

• 4 · Accounts receivable

  beginning of year $1,091,390 · end of year $648,790

• 5 · Loans and receivables from officers and key people

  beginning of year $750 · end of year $1,500

• 9 · Prepaid expenses and deferred charges

  beginning of year $228,406 · end of year $353,979

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

  $48,359,498

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

  $26,886,610

• 10c · Land, buildings and equipment, net

  beginning of year $21,333,766 · end of year $21,472,888

• 11 · Investments: publicly traded securities

  beginning of year $32,714,233 · end of year $34,175,982

• 15 · Other assets

  beginning of year $6,607,962 · end of year $6,567,939

• 17 · Accounts payable and accrued expenses

  beginning of year $2,029,317 · end of year $1,351,481

• 23 · Secured mortgages and notes payable

  beginning of year $15,334,370 · end of year $15,449,745

• 25 · Other liabilities

  beginning of year $2,807,839 · end of year $2,842,794

• 27 · Net assets without donor restrictions

  beginning of year $7,466,635 · end of year $6,861,616

• 28 · Net assets with donor restrictions

  beginning of year $37,834,180 · end of year $39,699,289

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT OF THE INSTITUTION HAS A SPECIFIC CUSTODIAN FOR HIS HOME. THE CUSTODIAN THAT CLEANS THE PRESIDENT'S HOME IS AN EMPLOYEE OF KENTUCKY WESLEYAN COLLEGE.

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUST - 6

  T · BENEFICIAL TRUST · KY