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Nonprofiteer
← KENTUCKY WESLEYAN COLLEGE

Form 990 for tax year 2024

Filed by KENTUCKY WESLEYAN COLLEGE.

Totals

Total revenue
$38,770,643
Total expenses
$36,501,258
Contributions and grants received
$4,306,167
Grants paid
$15,043,088
Program service revenue
$30,021,757
Investment income
$4,341,470
Other revenue
$101,249
Total assets, end of year
$65,756,508
Total liabilities, end of year
$16,513,630
Net assets or fund balances, end of year
$49,242,878
Program services expenses (Part IX)
$31,320,809
Management and general expenses
$4,434,990
Fundraising expenses
$745,459
Program service expenses (Part III)
$31,320,809

Program services were 85.8% 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.

  • 1e · Government grants (contributions)

    $233,369

  • 1f · All other contributions, gifts and grants

    $4,072,798

  • 1g · Noncash contributions included above

    $147,684

  • 2a · Program service revenue: TUITION AND FEES

    total $24,627,680 · related or exempt $24,627,680

  • 2b · Program service revenue: AUXILIARY INCOME

    total $5,394,077 · related or exempt $5,394,077

  • 3 · Investment income

    total $898,175 · excluded $898,175

  • 5 · Royalties

    total $1,419 · excluded $1,419

  • 6a · Gross rents

    real property $70,148

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $70,148

  • 6d · Net rental income or loss

    total $70,148 · excluded $70,148

  • 7a · Gross sales of assets other than inventory

    securities $13,265,159 · other assets $2,952,033

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

    securities $11,633,916 · other assets $1,139,981

  • 7c · Gain or loss

    securities $1,631,243 · other assets $1,812,052

  • 7d · Net gain or loss

    total $3,443,295 · excluded $3,443,295

  • 8a · Fundraising events: gross income

    $42,186

  • 8b · Fundraising events: direct expenses

    $12,504

  • 8c · Net income from fundraising events

    total $29,682 · excluded $29,682

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $15,043,088 · program services $15,043,088

  • 5 · Compensation of officers, directors and key employees

    total $1,184,429 · management and general $1,073,026 · fundraising $111,403

  • 7 · Other salaries and wages

    total $6,760,449 · program services $4,806,691 · management and general $1,560,325 · fundraising $393,433

  • 8 · Pension plan contributions

    total $201,898 · program services $116,571 · management and general $70,710 · fundraising $14,617

  • 9 · Other employee benefits

    total $1,285,341 · program services $861,986 · management and general $335,170 · fundraising $88,185

  • 10 · Payroll taxes

    total $572,118 · program services $346,552 · management and general $189,571 · fundraising $35,995

  • 11a · Fees: management

    total $247,770 · program services $223,984 · management and general $21,804 · fundraising $1,982

  • 11b · Fees: legal

    total $27,401 · management and general $27,401

  • 11c · Fees: accounting

    total $120,039 · management and general $120,039

  • 11g · Fees: other

    total $138,203 · program services $124,935 · management and general $12,162 · fundraising $1,106

  • 12 · Advertising and promotion

    total $374,069 · program services $338,158 · management and general $32,918 · fundraising $2,993

  • 13 · Office expenses

    total $486,632 · program services $439,915 · management and general $42,824 · fundraising $3,893

  • 14 · Information technology

    total $897,479 · program services $811,321 · management and general $78,978 · fundraising $7,180

  • 16 · Occupancy

    total $1,979,753 · program services $1,789,697 · management and general $174,218 · fundraising $15,838

  • 17 · Travel

    total $484,215 · program services $296,824 · management and general $156,401 · fundraising $30,990

  • 19 · Conferences, conventions and meetings

    total $366,697 · program services $331,494 · management and general $32,269 · fundraising $2,934

  • 20 · Interest

    total $661,715 · program services $598,190 · management and general $58,231 · fundraising $5,294

  • 22 · Depreciation, depletion and amortization

    total $1,413,041 · program services $1,277,392 · management and general $124,348 · fundraising $11,301

  • 23 · Insurance

    total $601,746 · program services $543,978 · management and general $52,954 · fundraising $4,814

  • 24a · Other expenses: ATHLETICS

    total $1,380,927 · program services $1,380,927 · management and general $0 · fundraising $0

  • 24b · Other expenses: UTILITIES

    total $800,729 · program services $723,859 · management and general $70,464 · fundraising $6,406

  • 24c · Other expenses: OTHER EXPENSES

    total $761,500 · program services $688,393 · management and general $67,012 · fundraising $6,095

  • 24d · Other expenses: INSTRUCTIONAL

    total $463,909 · program services $463,909 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $248,110 · program services $112,945 · management and general $134,165 · fundraising $1,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,506 · end of year $58,878

  • 2 · Savings and temporary cash investments

    beginning of year $2,384,347 · end of year $916,202

  • 3 · Pledges and grants receivable

    beginning of year $519,994 · end of year $707,007

  • 4 · Accounts receivable

    beginning of year $648,790 · end of year $549,918

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,500 · end of year $1,917

  • 9 · Prepaid expenses and deferred charges

    beginning of year $353,979 · end of year $237,579

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

    $46,478,482

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

    $26,554,654

  • 10c · Land, buildings and equipment, net

    beginning of year $21,472,888 · end of year $19,923,828

  • 11 · Investments: publicly traded securities

    beginning of year $34,175,982 · end of year $34,446,692

  • 15 · Other assets

    beginning of year $6,567,939 · end of year $8,914,487

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,351,481 · end of year $1,474,635

  • 23 · Secured mortgages and notes payable

    beginning of year $15,449,745 · end of year $12,520,433

  • 25 · Other liabilities

    beginning of year $2,842,794 · end of year $2,518,562

  • 27 · Net assets without donor restrictions

    beginning of year $6,861,616 · end of year $8,595,626

  • 28 · Net assets with donor restrictions

    beginning of year $39,699,289 · end of year $40,647,252

Mission and programs · 2024

Mission

FOSTER A LIBERAL ARTS EDUCATION THAT NOURISHES, STIMULATES AND PREPARES FUTURE LEADERS INTELLECTUALLY, SPIRITUALLY AND PHYSICALLY TO ACHIEVE SUCCESS IN LIFE

  • KENTUCKY WESLEYAN COLLEGE, IN PARTNERSHIP WITH THE UNITED METHODIST CHURCH, PROVIDES INSTRUCTION AND RELATED ACTIVITIES TO STUDENTS BY OFFERING A QUALITY LIBERAL ARTS EDUCATION AND OPPORTUNITIES FOR PERSONAL GROWTH AND LEADERSHIP.

    Expenses $31,320,809 · Grants $15,043,088 · Revenue $30,021,757

As filed on the 2024 return.

Listed in Part VII

  • Fred Wright

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Keith Sharber

    TRUSTEE/ VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Deborah Carter Dearing

    TRUSTEE/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Steve Devine

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sherry M Feldpausch

    TRUSTEE/IMMEDIATE PAST CHA

    Total calculated
    $0
    Hours/week
    1

  • Cathy Meeks Bishop

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Dale Carden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Bc Childress

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Noel Clayton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Mark Dickinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Mark Gibbons

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Tom Grieb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James J Griffin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • D Talmage Hocker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jay Ivey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas C Major

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mark Marsh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Donna Meador

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Greg Risch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Charles Schertzinger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Catherine Sherrard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Jay F Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Keith Switzer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sam Taylor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Heath Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom Mitzel

    PRESIDENT (END 8/24)/CONSULTANT (END 12/24)

    Total calculated
    $205,068
    From this org
    $181,292
    From related orgs
    $0
    Other
    $23,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,292
    Bonus
    $0
    Other
    $0
    Deferred
    $5,675
    Nontaxable benefits
    $18,101
    Filer's total
    $205,068

  • Edmond Kenny

    V.P. OF ADVANCEMENT (END 5/25)

    Total calculated
    $132,558
    From this org
    $111,167
    From related orgs
    $0
    Other
    $21,391
    Hours/week
    40

  • Matthew Ruark

    ASST. V.P. OF ENROLLMENT MGT

    Total calculated
    $87,688
    From this org
    $81,027
    From related orgs
    $0
    Other
    $6,661
    Hours/week
    40

  • Dan Frazier

    V.P. OF FINANCE (END 12/24)

    Total calculated
    $185,893
    From this org
    $162,704
    From related orgs
    $0
    Other
    $23,189
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,704
    Bonus
    $0
    Other
    $0
    Deferred
    $5,023
    Nontaxable benefits
    $18,166
    Filer's total
    $185,893

  • Scott E Kramer

    V.P. OF EXECUTIVE INITIATI

    Total calculated
    $106,225
    From this org
    $102,628
    From related orgs
    $0
    Other
    $3,597
    Hours/week
    40

  • Morgan Russelburg

    V.P. OF STUDENT AFFAIRS (START 9/24)

    Total calculated
    $76,759
    From this org
    $74,159
    From related orgs
    $0
    Other
    $2,600
    Hours/week
    40

  • Mark Shook

    V.P. OF ATHLETICS (END 4/25)

    Total calculated
    $115,457
    From this org
    $94,646
    From related orgs
    $0
    Other
    $20,811
    Hours/week
    40

  • James Cousins

    V.P. AAD (END 8/24)/PRESIDENT (START 9/24)

    Total calculated
    $198,369
    From this org
    $174,797
    From related orgs
    $0
    Other
    $23,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,797
    Bonus
    $0
    Other
    $0
    Deferred
    $5,500
    Nontaxable benefits
    $18,072
    Filer's total
    $198,369

  • Stephen Germic

    PROVOST/SR. V.P. OF ACADEMIC AFFAIRS (END 9/24)

    Total calculated
    $51,229
    From this org
    $47,916
    From related orgs
    $0
    Other
    $3,313
    Hours/week
    40

  • Stephanie Snyder

    INTERIM V.P. OF FINANCE (START 1/25)

    Total calculated
    $96,888
    From this org
    $93,924
    From related orgs
    $0
    Other
    $2,964
    Hours/week
    40

  • Shawn Tomes

    V.P. OF MISSION AND CULTURE (END 6/24)

    Total calculated
    $45,372
    From this org
    $43,979
    From related orgs
    $0
    Other
    $1,393
    Hours/week
    40

  • Rebecca McQueen-Ruark

    V.P. OF STUDENT SERVICES (END 6/24)

    Total calculated
    $57,194
    From this org
    $47,665
    From related orgs
    $0
    Other
    $9,529
    Hours/week
    40

  • Lindsey Crowe

    DIRECTOR OF ONLINE LEARNING

    Total calculated
    $85,019
    From this org
    $75,624
    From related orgs
    $0
    Other
    $9,395
    Hours/week
    40

  • Linda Keller

    DIRECTOR OF HR

    Total calculated
    $126,032
    From this org
    $105,280
    From related orgs
    $0
    Other
    $20,752
    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
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 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
THE PRESIDENT OF THE INSTITUTION HAS A SPECIFIC CUSTODIAN FOR HIS HOME THAT CLEANS THE PRESIDENT'S HOME. THIS CUSTODIAN IS AN EMPLOYEE OF KENTUCKY WESLEYAN COLLEGE. IN ADDITION, THE COLLEGE PAYS MERRY MAIDS TO COMPLETE ADDITIONAL HOUSEKEEPING. TOTAL PAID IN FY25 WAS $4,300.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • CHARITABLE REMAINDER UNITRUST - 6

    T · BENEFICIAL TRUST · KY

Provenance

Return type
form_990
Tax year
2024
Filed
31 March 2026
IRS schema version
2024v5.5
Source object
202630969349300233

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