Totals
- Total revenue
- $3,142,887
- Total expenses
- $8,496,336
- Contributions and grants received
- $751,497
- Grants paid
- $0
- Program service revenue
- $7,716
- Investment income
- $2,198,777
- Other revenue
- $184,897
- Total assets, end of year
- $55,555,637
- Total liabilities, end of year
- $4,511,569
- Net assets or fund balances, end of year
- $51,044,068
- Program services expenses (Part IX)
- $3,941,510
- Management and general expenses
- $4,477,148
- Fundraising expenses
- $77,678
- Program service expenses (Part III)
- $3,941,510
Program services were 46.4% 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)
$151,713
-
1f · All other contributions, gifts and grants
$599,784
-
1g · Noncash contributions included above
$61,961
-
2a · Program service revenue: TUITION & FEES
total $6,878 · related or exempt $6,878
-
2b · Program service revenue: AUXILIARY ENTERPRISES
total $838 · related or exempt $838
-
3 · Investment income
total $665,787 · excluded $665,787
-
6a · Gross rents
real property $19,102
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $19,102
-
6d · Net rental income or loss
total $19,102 · excluded $19,102
-
7a · Gross sales of assets other than inventory
securities $1,097,071 · other assets $1,400,914
-
7b · Less cost or other basis and sales expenses
securities $764,995 · other assets $200,000
-
7c · Gain or loss
securities $332,076 · other assets $1,200,914
-
7d · Net gain or loss
total $1,532,990 · excluded $1,532,990
-
10a · Gross sales of inventory
$43,000
-
10b · Cost of goods sold
-$8,944
-
10c · Net income from sales of inventory
total $51,944 · excluded $51,944
-
11a · Other revenue: OTHER REVENUE
total $113,851 · related or exempt $113,851
-
11e · Other revenue, total
$113,851
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $508,682 · program services $288,968 · management and general $194,466 · fundraising $25,248
-
7 · Other salaries and wages
total $1,681,368 · program services $1,040,112 · management and general $594,806 · fundraising $46,450
-
8 · Pension plan contributions
total $35,533 · program services $20,655 · management and general $13,703 · fundraising $1,175
-
9 · Other employee benefits
total $93,498 · program services $55,880 · management and general $37,011 · fundraising $607
-
10 · Payroll taxes
total $127,608 · program services $74,103 · management and general $49,201 · fundraising $4,304
-
11b · Fees: legal
total $572,778 · management and general $572,778
-
11c · Fees: accounting
total $2,500 · management and general $2,500
-
11g · Fees: other
total $1,327,860 · program services $850,576 · management and general $477,284
-
12 · Advertising and promotion
total -$5,304 · program services -$5,304
-
13 · Office expenses
total $205,951 · program services -$567 · management and general $206,624 · fundraising -$106
-
14 · Information technology
total $848,122 · program services -$6,768 · management and general $854,890
-
16 · Occupancy
total $447,552 · program services $336,911 · management and general $110,641
-
17 · Travel
total $2,616 · program services $2,481 · management and general $135
-
19 · Conferences, conventions and meetings
total $6,823 · management and general $6,823
-
22 · Depreciation, depletion and amortization
total $1,700,287 · program services $1,232,457 · management and general $467,830
-
23 · Insurance
total $388,118 · management and general $388,118
-
24a · Other expenses: EXPENSED EQUIPMENT
total $251,995 · program services $2,513 · management and general $249,482
-
24b · Other expenses: CREDIT LOSSES
total $232,295 · management and general $232,295
-
24c · Other expenses: REPAIRS & MAINTANENCE
total $47,740 · program services $45,815 · management and general $1,925
-
24d · Other expenses: MISCELLANEOUS
total $17,019 · program services $383 · management and general $16,636
-
24e · All other expenses
total $3,295 · program services $3,295
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,839,199 · end of year $893,397
-
2 · Savings and temporary cash investments
beginning of year $214,964 · end of year $20,891
-
3 · Pledges and grants receivable
beginning of year $999,454 · end of year $924,132
-
4 · Accounts receivable
beginning of year $257,186 · end of year $48,059
-
8 · Inventories for sale or use
beginning of year $77,052
-
10a · Land, buildings and equipment: cost or other basis
$73,189,184
-
10b · Land, buildings and equipment: accumulated depreciation
$49,710,538
-
10c · Land, buildings and equipment, net
beginning of year $25,625,817 · end of year $23,478,646
-
11 · Investments: publicly traded securities
beginning of year $21,225,114 · end of year $22,796,595
-
12 · Investments: other securities
beginning of year $6,741,128 · end of year $6,590,920
-
13 · Investments: program-related
beginning of year -$92,692
-
15 · Other assets
beginning of year $1,163,965 · end of year $802,997
-
17 · Accounts payable and accrued expenses
beginning of year $3,283,735 · end of year $3,592,441
-
19 · Deferred revenue
beginning of year $28,189 · end of year $1,891
-
23 · Secured mortgages and notes payable
beginning of year $99,791 · end of year $71,062
-
25 · Other liabilities
beginning of year $1,165,339 · end of year $846,175
-
27 · Net assets without donor restrictions
beginning of year $14,227,620 · end of year $11,520,038
-
28 · Net assets with donor restrictions
beginning of year $40,246,513 · end of year $39,524,030
Mission and programs · 2024
Mission
TO EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES.
Activities or mission (Part I)
EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. THROUGH WELLS' ACADEMIC PROGRAM, RESIDENTIAL ATMOSPHERE, AND COMMUNITY ACTIVITIES, STUDENTS LEARN AND PRACTICE THE IDEALS OF THE LIBERAL ARTS. THE WELLS EXPERIENCE PREPARES STUDENTS TO APPRECIATE COMPLEXITY AND DIFFERENCE, TO EMBRACE NEW WAYS OF KNOWING, TO BE CREATIVE, AND TO RESPOND ETHICALLY TO THE INTERDEPENDENT WORLDS TO WHICH THEY BELONG. COMMITTED TO EXCELLENCE IN ALL AREAS OF ITS REACH, WELLS COLLEGE EQUIPS STUDENTS FOR LIFELONG LEARNING AND FOR SHARING THE PRIVILEGES OF EDUCATION WITH OTHERS.
-
HIGHER EDUCATION - INSTRUCTIONAL COSTS INCLUDING SALARY AND BENEFITS FOR FACULTY AND EXPENSES ASSOCIATED WITH MAINTAINING EDUCATIONAL DEPARTMENTS. ALL PROGRAM EXPENSES ARE INCURRED TO FURTHER THE EDUCATION OF FORMER STUDENTS.
Expenses $3,941,510 · Revenue $121,567
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Marie Chapman CarrollMARIE CHAPMAN CARROLL
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Kathryn L FongKATHRYN L FONG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Deborah L CallahanDEBORAH L CALLAHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Vicki Keller PanhuiseVICKI KELLER PANHUISE
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Stephen L ZabriskieSTEPHEN L ZABRISKIE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Nicola A WilliamsNICOLA A WILLIAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kris Selander GordonKRIS SELANDER GORDON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Michael J BurgessMICHAEL J BURGESS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Janice W AlbanoJANICE W ALBANO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Talyse L HamptonTALYSE L HAMPTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Susan HenkingSUSAN HENKING
PRESIDENT
- Total calculated
- $267,928
- From this org
- $266,460
- From related orgs
- $0
- Other
- $1,468
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $244,850
- Bonus
- $0
- Other
- $21,610
- Deferred
- $1,198
- Nontaxable benefits
- $270
- Filer's total
- $267,928
-
Sabrina BurnsSABRINA BURNS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John CallahanJOHN CALLAHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Mazzola CaniaLISA MAZZOLA CANIA
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Joanne KelleyJOANNE KELLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Molly MoenMOLLY MOEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gail M PesynaGAIL M PESYNA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robert CreeROBERT CREE
VICE PRESIDENT AND CFO
- Total calculated
- $210,224
- From this org
- $206,542
- From related orgs
- $0
- Other
- $3,682
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $188,726
- Bonus
- $0
- Other
- $17,816
- Deferred
- $3,442
- Nontaxable benefits
- $240
- Filer's total
- $210,224
-
Pamela SheridanPAMELA SHERIDAN
VP FOR ADVANCEMENT
- Total calculated
- $90,423
- From this org
- $88,705
- From related orgs
- $0
- Other
- $1,718
- Hours/week
- 35
-
Jonathan GibralterJONATHAN GIBRALTER
FORMER PRESIDENT
- Total calculated
- $220,589
- From this org
- $206,488
- From related orgs
- $0
- Other
- $14,101
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $178,823
- Bonus
- $0
- Other
- $27,665
- Deferred
- $13,831
- Nontaxable benefits
- $270
- Filer's total
- $220,589
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 · Personal services (maid, chauffeur, chef)
- 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 VII AND SCHEDULE J PART II
- AMOUNTS REPORTED IN PART VII AND SCHEDULE J PART II REPRESENT COMPENSATION PAID DURING THE PERIOD JANUARY 1, 2024 THROUGH DECEMBER 31, 2024. THE AVERAGE HOURS PER WEEK REPORTED IN PART VII REPRESENT HOURS DEVOTED TO THE COLLEGE DURING THE PERIOD JULY 1, 2024 THROUGH JUNE 30, 2025.
- SCHEDULE J PART II COLUMN (B)(III)
- AMOUNTS REPORTED IN SCHEDULE J PART II COLUMN (B)(III) REPRESENT THE VALUE OF HOUSING PROVIDED BY EMPLOYER AND VACATION LEAVE CASHED OUT DURING THE PERIOD JANUARY 1, 2024 THROUGH DECEMBER 31, 2024.
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
- 2024
- Filed
- 1 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202621249349301207
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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