Indiana Wesleyan University

The information on this page was last updated 3/20/2023. If you see errors or omissions, please email: [email protected]


Summary

Indiana Wesleyan University is an evangelical Christian comprehensive university that is committed to liberal arts and professional education. U.S. News & World Report ranks Indiana Wesleyan University as "one of the best Master's universities in the Midwest." IWU has been Indiana's fastest-growing University for the past two years. The University's total enrollment, which now exceeds 15,000 students, makes IWU the largest private university in Indiana. One result of this growth has been the establishment of the IWU School of Nursing, a premier nursing school in its own right.


Contact information

Mailing address:
Indiana Wesleyan University
4201 S Washington St.
Marion, IN 46953

Website: indwes.edu

Phone: 866-468-6498

Email: [email protected]


Organization details

EIN: 350885591

CEO/President: Dr. Jonathan Kulaga

Chairman:

Board size: 25

Founder:

Ruling year: 1970

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

IWU's purpose is to search for truth, by study in liberal arts and in professional education within the framework of Christian faith and philosophy so that the person is developed for service to God and man in the church and in society.


Mission statement

Indiana Wesleyan University is a Christ-centered academic community committed to changing the world by developing students in character, scholarship, and leadership.


Statement of faith

We believe in one God, who is Father, Son, and Holy Spirit, the Savior of all persons who put their faith in Him alone for eternal life.

We believe those who receive new life in Christ are called to be holy in character and conduct, and can only live this way by being filled with the Lord's Spirit.

We believe in the Bible and seek to establish our faith and actions on its teachings.

We believe God wants people everywhere to know Him and that the purpose of the church is to tell the world about Christ through its worship, witness, and loving deeds.

Donor confidence score

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Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating441 of 111062 of 129
Fund acquisition rating589 of 111176 of 129
Resource allocation rating249 of 111122 of 129
Asset utilization rating635 of 111086 of 129

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%13%8%10%16%19%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%1%1%1%1%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
20%8%15%10%6%5%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%1%1%1%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
80%92%85%90%94%95%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%89%89%88%89%91%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%101%101%97%100%96%
Program output ratio Program output ratio =
Program services /
Total revenue
80%90%89%86%89%88%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%-1%-1%3%0%4%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%-1%0%1%0%2%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%10%10%11%10%8%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.350.400.360.410.41
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.691.731.881.822.112.14
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.440.610.750.650.860.87
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.2312.4011.3913.089.248.24
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.120.080.090.080.110.12
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.2918.1514.5617.1012.4612.13
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
24%9%9%9%10%11%
Debt ratio Debt ratio =
Debt /
Total assets
11%3%3%3%3%3%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
151%259%227%256%221%220%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$10,827,851$10,407,596$12,640,794$7,007,399$11,411,040
Receivables, inventories, prepaids$16,606,888$17,311,365$17,972,565$16,873,264$18,056,792
Short-term investments$302,349,203$256,429,571$287,122,818$217,302,779$214,357,956
Other current assets$0$0$0$0$0
Total current assets$329,783,942$284,148,532$317,736,177$241,183,442$243,825,788
Long-term investments$0$0$0$0$0
Fixed assets$231,640,817$239,717,802$245,446,949$254,922,121$263,854,681
Other long-term assets$10,644,256$11,212,121$13,705,358$13,220,902$14,158,837
Total long-term assets$242,285,073$250,929,923$259,152,307$268,143,023$278,013,518
Total assets$572,069,015$535,078,455$576,888,484$509,326,465$521,839,306
 
Liabilities20232022202120202019
Payables and accrued expenses$16,948,618$17,112,503$16,738,043$20,024,137$25,170,564
Other current liabilities$9,639,025$7,825,279$7,546,944$6,064,546$4,423,859
Total current liabilities$26,587,643$24,937,782$24,284,987$26,088,683$29,594,423
Debt$14,953,277$14,953,368$14,989,840$14,969,521$14,949,201
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$10,899,317$10,054,415$10,134,153$10,270,883$10,932,746
Total long-term liabilities$25,852,594$25,007,783$25,123,993$25,240,404$25,881,947
Total liabilities$52,440,237$49,945,565$49,408,980$51,329,087$55,476,370
 
Net assets20232022202120202019
Without donor restrictions$416,903,742$390,151,653$422,169,251$377,468,550$381,945,048
With donor restrictions$102,725,036$94,981,237$105,310,253$80,528,828$84,417,888
Net assets$519,628,778$485,132,890$527,479,504$457,997,378$466,362,936
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$15,690,230$31,493,322$21,649,627$12,518,248$11,843,608
Program service revenue$174,903,737$173,877,299$184,704,472$189,466,894$202,587,389
Membership dues$0$0$0$0$0
Investment income$7,205,782$6,900,791$4,542,899$5,865,597$5,170,593
Other revenue$28,584($70,354)$356,301$268,256$253,253
Total other revenue$182,138,103$180,707,736$189,603,672$195,600,747$208,011,235
Total revenue$197,828,333$212,201,058$211,253,299$208,118,995$219,854,843
 
Expenses20232022202120202019
Program services$177,726,965$189,816,428$181,138,164$185,151,210$193,445,908
Management and general$20,649,802$21,397,634$22,694,780$20,005,114$16,136,607
Fundraising$2,078,061$2,464,075$2,098,788$1,956,958$2,283,892
Total expenses$200,454,828$213,678,137$205,931,732$207,113,282$211,866,407
 
Change in net assets20232022202120202019
Surplus (deficit)($2,626,495)($1,477,079)$5,321,567$1,005,713$7,988,436
Other changes in net assets$0$0$0$0$0
Total change in net assets($2,626,495)($1,477,079)$5,321,567$1,005,713$7,988,436

Compensation

NameTitleCompensation
David WrightPresident Emeritus$281,579
Rod Reed End 1222Chancellor/ National & Global$211,328
Karen DowlingVP For Diversity$195,776
Carson CastlemanVP of Student Experience$195,752
Eulala Eileen HulmeChancellor/National & Global$188,269
Nancy SchoonmakerExecutive VP and CFO$183,275
Scott TurcottVP of University Advancement$175,799
Silvia Lucaschi-DeckerVP of Enroll Mgmt (left 2/23)$169,129
Jon Kulaga Began 0822University President$168,860

Compensation data as of: 6/30/2023


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/20/2023. To update the information below, please email: [email protected]


History

https://www.indwes.edu/about/iwu-profile/iwu-story


Program accomplishments


Needs