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Nonprofiteer
← WESLEYAN SCHOOL INC

Form 990 for tax year 2022

Filed by WESLEYAN SCHOOL INC.

Totals

Total revenue
$52,364,935
Total expenses
$39,023,062
Contributions and grants received
$17,141,039
Grants paid
$3,021,058
Program service revenue
$33,809,845
Investment income
$952,522
Other revenue
$461,529
Total assets, end of year
$155,972,747
Total liabilities, end of year
$35,287,203
Net assets or fund balances, end of year
$120,685,544
Program services expenses (Part IX)
$34,814,913
Management and general expenses
$3,572,570
Fundraising expenses
$635,579
Program service expenses (Part III)
$34,814,913

Program services were 89.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $17,141,039

  • 2a · Program service revenue: TUITION

    total $32,678,255 · related or exempt $32,678,255

  • 2b · Program service revenue: OTHER STUDENT FEES

    total $1,125,066 · related or exempt $1,125,066

  • 2c · Program service revenue: AUXILIARY PROGRAMS FEES

    total $6,524 · related or exempt $6,524

  • 3 · Investment income

    total $934,271 · excluded $934,271

  • 6a · Gross rents

    real property $115,479

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $115,479

  • 6d · Net rental income or loss

    total $115,479 · excluded $115,479

  • 7a · Gross sales of assets other than inventory

    securities $20,380 · other assets $10,538

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

    securities $12,667 · other assets $0

  • 7c · Gain or loss

    securities $7,713 · other assets $10,538

  • 7d · Net gain or loss

    total $18,251 · excluded $18,251

  • 10a · Gross sales of inventory

    $783,274

  • 10b · Cost of goods sold

    $437,224

  • 10c · Net income from sales of inventory

    total $346,050 · related or exempt $346,050

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,021,058 · program services $3,021,058

  • 5 · Compensation of officers, directors and key employees

    total $1,993,874 · program services $1,701,888 · management and general $252,310 · fundraising $39,676

  • 7 · Other salaries and wages

    total $16,759,407 · program services $14,529,391 · management and general $1,861,241 · fundraising $368,775

  • 8 · Pension plan contributions

    total $1,066,898 · program services $874,856 · management and general $170,704 · fundraising $21,338

  • 9 · Other employee benefits

    total $2,664,806 · program services $2,105,851 · management and general $532,465 · fundraising $26,490

  • 10 · Payroll taxes

    total $1,385,545 · program services $1,163,857 · management and general $191,205 · fundraising $30,483

  • 11b · Fees: legal

    total $7,525 · management and general $7,525

  • 11c · Fees: accounting

    total $60,550 · management and general $60,550

  • 11g · Fees: other

    total $40,328 · program services $33,876 · management and general $5,565 · fundraising $887

  • 12 · Advertising and promotion

    total $208,913 · management and general $208,913

  • 13 · Office expenses

    total $642,427 · program services $447,773 · management and general $71,038 · fundraising $123,616

  • 14 · Information technology

    total $643,446 · program services $602,735 · management and general $32,172 · fundraising $8,539

  • 16 · Occupancy

    total $3,587,541 · program services $3,586,109 · management and general $1,432

  • 19 · Conferences, conventions and meetings

    total $147,545 · program services $61,201 · management and general $86,344

  • 22 · Depreciation, depletion and amortization

    total $4,040,733 · program services $4,040,733

  • 23 · Insurance

    total $428,346 · program services $342,677 · management and general $81,386 · fundraising $4,283

  • 24a · Other expenses: EDUCATIONAL SUPPLIES AN

    total $1,202,528 · program services $1,202,528

  • 24b · Other expenses: CAFETARIA EXPENSES

    total $1,020,679 · program services $1,020,679

  • 24c · Other expenses: PRINTING AND PUBLICATIO

    total $78,637 · program services $69,761 · management and general $2,536 · fundraising $6,340

  • 24d · Other expenses: POSTAGE, TELEPHONE, AND

    total $22,276 · program services $9,940 · management and general $7,184 · fundraising $5,152

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,297,380 · end of year $20,544,688

  • 3 · Pledges and grants receivable

    beginning of year $12,438,831 · end of year $21,060,712

  • 4 · Accounts receivable

    beginning of year $6,806,783 · end of year $5,281,789

  • 9 · Prepaid expenses and deferred charges

    beginning of year $528,774 · end of year $608,903

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

    $102,986,816

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

    $40,055,842

  • 10c · Land, buildings and equipment, net

    beginning of year $63,995,914 · end of year $62,930,974

  • 11 · Investments: publicly traded securities

    beginning of year $29,189,074 · end of year $42,510,401

  • 15 · Other assets

    beginning of year $1,353,701 · end of year $3,035,280

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,315,228 · end of year $3,535,342

  • 19 · Deferred revenue

    beginning of year $28,579,139 · end of year $30,312,356

  • 25 · Other liabilities

    beginning of year $701,875 · end of year $1,439,505

  • 27 · Net assets without donor restrictions

    beginning of year $68,340,217 · end of year $68,635,419

  • 28 · Net assets with donor restrictions

    beginning of year $37,673,998 · end of year $52,050,125

Mission and programs · 2022

Mission

WESLEYAN'S MISSION IS TO BE A CHRISTIAN SCHOOL OF ACADEMIC EXCELLENCE BY PROVIDING EACH STUDENT A DIVERSE COLLEGE PREPARATORY EDUCATION GUIDED BY CHRISTIAN PRINCIPLES AND BELIEFS; BY CHALLENGING AND NURTURING THE MIND, BODY AND SPIRIT; AND BY DEVELOPING RESPONSIBLE STEWARDSHIP IN OUR CHANGING WORLD.

Activities or mission (Part I)

WESLEYAN'S MISSION IS TO BE A CHRISTIAN SCHOOL OF ACADEMIC EXCELLENCE.

  • EDUCATION: WESLEYAN IS AN INDEPENDENT K-12 SCHOOL WITH A COLLEGE PREPARATORY CURRICULUM. THERE IS A LOWER, MIDDLE AND HIGH SCHOOL LOCATED ON 85+ ACRES WITH 6 MAIN BUILDINGS, 10 FACULTY HOUSES, 3 CHAPELS, 2 LIBRARIES AND 2 DINING HALLS. ALL MIDDLE AND HIGH SCHOOL STUDENTS ARE GIVEN A SCHOOL ISSUED COMPUTER TABLET FOR USE IN THEIR STUDIES. THE FINE ARTS PROGRAM UTILIZES A 470 SEAT THEATRE, A BLACK BOX THEATRE, DRAWING, PAINTING AND CERAMIC ROOMS, MIDDLE AND HIGH SCHOOL BAND AND CHORALE STUDIOS AND 18 INDIVIDUAL SOUNDPROOF PRACTICE CHAMBERS. THE ATHLETICS PROGRAM HAVE ACCESS TO 4 GYMNASIUMS, 11 TENNIS COURTS, INDIVIDUAL FOOTBALL, BASEBALL, SOFTBALL FIELDS AND STADIUMS, A COMPETITION TRACK AND FIELD COMPLEX, A 10 LANE POOL/2-DIVE WELL NATATORIUM, 2 BEACH VOLLEYBALL COURTS, 2 WEIGHT ROOMS, AN ADDITIONAL 5 FIELD COMPLEX INCLUDING AN ARTIFICIAL TURF FIELD FOR SOCCER AND LACROSSE AS WELL AS A PROFESSIONALLY DESIGNED CROSS COUNTRY COURSE THROUGHOUT CAMPUS. STARTING ENROLLMENT FOR THE SCHOOL YEAR WAS 1,207. THE 2023 GRADUATING CLASS HAD 112 STUDENTS WITH 100% POSTGRADUATE ACCEPTANCE TO 142 DIFFERENT FOUR-YEAR COLLEGES AND RECEIVED $6.3 MILLION IN MERIT AND ATHLETIC SCHOLARSHIP AWARDS.

    Expenses $34,814,913 · Grants $3,021,058 · Revenue $34,155,895

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Land Bridgers

    BOARD TRUSTEE - CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • Robert E Binion

    BOARD TRUSTEE - VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Mark Chapman

    BOARD TRUSTEE - TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Yumi Shim

    BOARD TRUSTEE - SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Mark Adent

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Claire Barnett

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rob Bennison

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Matt Cole

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dan Cowart

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ashby Foltz

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Amanda Hene

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tim Hillegass

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Betsy John

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Erika Laughlin

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tom Menefee

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Billy Milam

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Amber Moore

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Todd Ratliff

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sean Taylor

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Devane Tidwell

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Christopher B Cleveland

    HEAD OF SCHOOL

    Total calculated
    $509,127
    From this org
    $422,697
    From related orgs
    $0
    Other
    $86,430
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $410,947
    Bonus
    $0
    Other
    $11,750
    Deferred
    $27,000
    Nontaxable benefits
    $59,430
    Filer's total
    $509,127

  • William J Coxhead

    CHIEF FINANCIAL OFFICER

    Total calculated
    $338,723
    From this org
    $291,414
    From related orgs
    $0
    Other
    $47,309
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $287,064
    Bonus
    $0
    Other
    $4,350
    Deferred
    $22,879
    Nontaxable benefits
    $24,430
    Filer's total
    $338,723

  • Ramona Blankenship

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $247,046
    From this org
    $186,958
    From related orgs
    $0
    Other
    $60,088
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $186,958
    Bonus
    $0
    Other
    $0
    Deferred
    $16,945
    Nontaxable benefits
    $43,143
    Filer's total
    $247,046

  • Brian Morgan

    CHIEF OPERATIONS OFFICER

    Total calculated
    $240,275
    From this org
    $217,528
    From related orgs
    $0
    Other
    $22,747
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $217,528
    Bonus
    $0
    Other
    $0
    Deferred
    $14,604
    Nontaxable benefits
    $8,143
    Filer's total
    $240,275

  • Joseph Koch

    PRINCIPAL - HIGH SCHOOL

    Total calculated
    $242,904
    From this org
    $200,157
    From related orgs
    $0
    Other
    $42,747
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $160,157
    Bonus
    $40,000
    Other
    $0
    Deferred
    $10,143
    Nontaxable benefits
    $32,604
    Filer's total
    $242,904

  • Marc Khedouri

    ASSISTANT HEAD OF SCHOOL FOR ADVANCEMENT

    Total calculated
    $226,119
    From this org
    $167,800
    From related orgs
    $0
    Other
    $58,319
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,800
    Bonus
    $0
    Other
    $0
    Deferred
    $15,176
    Nontaxable benefits
    $43,143
    Filer's total
    $226,119

  • Chad McDaniel

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $189,680
    From this org
    $159,433
    From related orgs
    $0
    Other
    $30,247
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,693
    Bonus
    $7,740
    Other
    $0
    Deferred
    $12,783
    Nontaxable benefits
    $17,464
    Filer's total
    $189,680

  • Spencer Cornett

    DIRECTOR OF FACILITIES

    Total calculated
    $174,856
    From this org
    $139,270
    From related orgs
    $0
    Other
    $35,586
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $139,270
    Bonus
    $0
    Other
    $0
    Deferred
    $8,899
    Nontaxable benefits
    $26,687
    Filer's total
    $174,856

  • Joseph Antonio IV

    PRINCIPAL - MIDDLE SCHOOL

    Total calculated
    $170,848
    From this org
    $133,704
    From related orgs
    $0
    Other
    $37,144
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,704
    Bonus
    $0
    Other
    $0
    Deferred
    $12,714
    Nontaxable benefits
    $24,430
    Filer's total
    $170,848

  • Jeffrey Pettit

    CONSTRUCTION MANAGER

    Total calculated
    $157,353
    From this org
    $135,971
    From related orgs
    $0
    Other
    $21,382
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,971
    Bonus
    $0
    Other
    $0
    Deferred
    $6,984
    Nontaxable benefits
    $14,398
    Filer's total
    $157,353

  • Henry F Pridgen

    HEAD FOOTBALL COACH + TEACHER

    Total calculated
    $143,355
    From this org
    $132,419
    From related orgs
    $0
    Other
    $10,936
    Hours/week
    40

  • Matthew Crew Jr

    REGISTRAR + TEACHER

    Total calculated
    $145,954
    From this org
    $126,357
    From related orgs
    $0
    Other
    $19,597
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
CERTAIN KEY EMPLOYEES ARE PROVIDED ON-CAMPUS HOUSING.
PART I, LINE 3
THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES AND APPROVES THE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
6 May 2024
IRS schema version
2022v5.0
Source object
202411289349301951

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