Wabash College FY2024 filing

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Wabash College is a liberal arts College for men that educates them to think critically, act responsibly, lead effectively, and live humanely.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $5.6M a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Plus $402.7M in investments, Pt X · Ln 11–13
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$44.8M
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
39
of 40 voting members
Looks good: 39 of 40 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$111.0M
+45% vs prior year
Spent
$93.5M
To programs
89%
Net assets
$588.3M
By yearFY2020–FY2025
Revenue
$111.0M
FY2024▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2020$89.7M
FY2021$85.4M
FY2022$93.9M
FY2023$76.3M
FY2024$111.0M
FY2025$110.3M
Expenses
$93.5M
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$81.1M
FY2021$82.7M
FY2022$87.2M
FY2023$89.0M
FY2024$93.5M
FY2025$99.7M
Net assets
$588.3M
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$468.5M
FY2021$557.8M
FY2022$536.2M
FY2023$533.5M
FY2024$588.3M
FY2025$649.7M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1941.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $83.4M Management & general 9% · $8.4M Fundraising 2% · $1.7M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

47 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$544,213Pt VII · Sec A
Dean for Prof. Development
$239,319Pt VII · Sec A
Dean for Advancement
$219,496Pt VII · Sec A
CFO/Treasurer
$209,050Pt VII · Sec A
Dean of the College
$181,043Pt VII · Sec A
Director of Wabash Center
$177,510Pt VII · Sec A
Secretary/Chief of Staff
$166,580Pt VII · Sec A
Director of Inquiries-Cila
$151,059Pt VII · Sec A

Scott E Feller’s $575K as President is at the 49th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Scott E Feller$574,750$544,213————
Feller Scott E——$515,695$494,820$316,647—
Gregory Hess End 0630—————$489,876
Hess Gregory————$358,919—
Steven L Jones$247,685$239,319————
Jones Steven L——$233,585$228,335$225,106—
Michelle L Janssen$232,775$219,496————
Steven Jones—————$221,636

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Wabash College executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates young men through a liberal arts curriculum, athletic programs, and support services to foster critical thinking, responsible leadership, and humane living.

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1 program · $83.4M · in their own filed words · FY2023
01

Instruction

The academic instruction program. Student services and athletics - activities whose primary goal is to contribute to the student's emotional and physical well-being as well as intellectual, cultural, and social development outside of the classroom.

$83.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$2K
Grants paid · 188 grants · $176.0M · 2019–2024
Unitemized GrantFY2024$31,587,491
Unitemized GrantFY2024$158,400
Unitemized GrantFY2024$107,836
Unitemized GrantFY2024$103,125
Unitemized GrantFY2024$68,457
Unitemized GrantFY2024$60,887
Gustavus Adolphus CollegeMN · FY2024$31,838
Vanderbilt UniversityTN · FY2024$30,000
Indigenous Pathways INCME · FY2024$30,000
See all 188 grants →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $6.8M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.5M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$127K
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct$124K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$80K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2024 · $6.4M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$156K
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct$143K
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct$113K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $6.9M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$981K
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Direct$834K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$141K
Social, Behavioral, and Economic SciencesNational Science Foundation · ALN 47.075 · Direct$137K

Plus 3 smaller programs.

The auditor reported no findings.

Year ending Jun 2022 · $7.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.8M
Covid-19 Higher Education Emergency Relief Fund - StudentDepartment of Education · ALN 84.425 · Direct$1.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$917K
Social, Behavioral, and Economic SciencesNational Science Foundation · ALN 47.075 · Direct$162K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$141K

Plus 3 smaller programs.

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$111.0M
Ln 12
Fees for servicesLn 2g$53.1M
Gifts and grantsLn 1h$48.2M
Investment incomeLn 3$9.3M
Money outPt IX
$93.5M
Ln 25
Programscol B$83.4M
Managementcol C$8.4M
Fundraisingcol D$1.7M
Owns and owesPt X
$588.3M
net assets · Ln 32
Cash and savingsLn 1–2$50.1M
Total assetsLn 16$633.2M
LiabilitiesLn 26$44.8M
PeoplePt VI, VII
47
listed · VII A
PaidVII A8
Voting boardVI 1a40
IndependentVI 1b39
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$48.2M
Government grantsLn 1e$379K
Noncash giftsLn 1g$1.1M
Fees for servicesLn 2g$53.1M
Investment incomeLn 3$9.3M
Other incomeLn 4–11$311K
Gains on assetsLn 7$1.9M
Total revenueLn 12$111.0M
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$50.1M
Cash and savings togetherLn 1–2$50.1M
InvestmentsLn 11–13$402.7M
Land, buildings, equipmentLn 10c$126.4M
Other assetsLn 15$38.1M
Total assetsLn 16$633.2M
LiabilitiesLn 26$44.8M
Net assetsLn 32$588.3M
OperationsPt I, VI
EmployeesI 51,031
VolunteersI 639
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$32.3M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$57.1M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$30K
Noncash gifts receivedSch M Pt I$6.3M
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$414.0M$381.5M$376.5M$409.7M$327.5M
Given inLn 1b$12.3M$7.5M$5.2M$4.8M$8.2M
SpentLn 1d–1f$21.0M$20.4M$19.3M$19.2M$18.7M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$36.7M$50.1M
InvestmentsLn 11–13$363.1M$402.7M
Land, buildings, equipmentLn 10c$125.7M$126.4M
Total assetsLn 16$579.6M$633.2M
LiabilitiesLn 26$46.1M$44.8M
Net assetsLn 32$533.5M$588.3M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Grants to domestic individualsLn 2$29.5M$29.5M
Grants and assistance to foreign recipientsLn 3$30K$30K
Pay of current officers, directors and key staffLn 5$1.0M$846K$158K$21K
Other salaries and wagesLn 7$23.4M$19.3M$3.6M$487K
Pension plan contributionsLn 8$2.4M$2.0M$369K$50K
Other employee benefitsLn 9$1.4M$1.1M$208K$28K
Payroll taxesLn 10$1.7M$1.4M$255K$35K
Management feesLn 11a$34K$34K
Legal feesLn 11b$289K$1K$284K$4K
Accounting feesLn 11c$203K$203K
Professional fundraising feesLn 11e$128K$128K
Investment management feesLn 11f$986K$986K
Other fees for servicesLn 11g$3.7M$3.0M$568K$77K
Advertising and promotionLn 12$669K$303K$366K
Office expensesLn 13$1.0M$979K$31K$13K
Information technologyLn 14$787K$722K$16K$50K
OccupancyLn 16$8.6M$8.2M$368K$47K
TravelLn 17$2.6M$2.4M$72K$85K
Conferences, conventions and meetingsLn 19$16K$10K$6K
InterestLn 20$869K$837K$32K
Depreciation, depletion and amortizationLn 22$5.3M$5.2M$77K$334
InsuranceLn 23$922K$108K$814K
Other expenses (24a–d)Ln 24$6.9M$6.2M$347K$324K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$93.5M$83.4M$8.4M$1.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $110.3M$99.7M$10.6M$649.7M 990 PDF
FY2024 ViewingFiled with the IRS May 15, 2025 $111.0M$93.5M$17.5M$588.3M 990 PDF
FY2023Filed with the IRS May 15, 2024 $76.3M$89.0M−$12.7M$533.5M 990 PDF
FY2022Filed with the IRS May 11, 2023 $93.9M$87.2M$6.7M$536.2M 990 PDF
FY2021Filed with the IRS May 13, 2022 $85.4M$82.7M$2.7M$557.8M 990 PDF
FY2020Filed with the IRS May 17, 2021 $89.7M$81.1M$8.6M$468.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $111,002,080 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $16,946,142$48,247,581
I-9 Program service revenuePrior year $50,465,239$53,105,285
I-10 Investment incomePrior year $8,741,841$9,338,121
I-11 Other revenuePrior year $183,458$311,093
I-12 Total revenuePrior year $76,336,680$111,002,080
I-13 Grants and similar amounts paidPrior year $29,143,954$30,710,807
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $28,438,116$29,814,890
I-16a Professional fundraising feesPrior year $223,002$127,600
I-17 Other expensesPrior year $31,235,395$32,832,864
I-18 Total expensesPrior year $89,040,467$93,486,161
I-19 Revenue less expensesPrior year −$12,703,787$17,515,919
Part VI · Governance 39 of 40 board members independent, no flags
VI-1a Voting members of the governing body40
VI-1b Independent voting members39
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $111,002,080 across 9 lines filed
Lines not itemized here account for $311,093 of total revenue; see the IRS return.
VIII-1d Related organizations$33,033
VIII-1e Government grants$379,341
VIII-1f All other contributions, gifts and grants$47,835,207
VIII-1g Noncash contributions (included above)$1,138,940
VIII-1h Total contributions, gifts and grants$48,247,581
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,105,285$53,105,285
VIII-3 Investment incomeUnrelated business $766,587 · Excluded from tax $6,720,668$7,487,255
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,850,866$1,850,866
VIII-12 Total revenueRelated to mission $53,276,654 · Unrelated business $906,311 · Excluded from tax $8,571,534$111,002,080
Part IX · Statement of functional expenses $93,486,161 across 25 lines filed
IX-1 Grants to domestic organizationsPrograms $1,183,024$1,183,024
IX-2 Grants to domestic individualsPrograms $29,497,803$29,497,803
IX-3 Grants and assistance to foreign recipientsPrograms $29,980$29,980
IX-5 Pay of current officers, directors and key staffPrograms $846,215 · Management $157,613 · Fundraising $21,359$1,025,187
IX-7 Other salaries and wagesPrograms $19,296,952 · Management $3,594,173 · Fundraising $487,076$23,378,201
IX-8 Pension plan contributionsPrograms $1,981,170 · Management $369,005 · Fundraising $50,007$2,400,182
IX-9 Other employee benefitsPrograms $1,117,311 · Management $208,106 · Fundraising $28,202$1,353,619
IX-10 Payroll taxesPrograms $1,368,308 · Management $254,855 · Fundraising $34,538$1,657,701
IX-11a Management feesPrograms $34,245$34,245
IX-11b Legal feesPrograms $1,430 · Management $283,527 · Fundraising $3,925$288,882
IX-11c Accounting feesManagement $203,314$203,314
IX-11e Professional fundraising feesFundraising $127,600$127,600
IX-11f Investment management feesManagement $985,687$985,687
IX-11g Other fees for servicesPrograms $3,047,769 · Management $567,665 · Fundraising $76,929$3,692,363
IX-12 Advertising and promotionPrograms $302,535 · Fundraising $366,024$668,559
IX-13 Office expensesPrograms $979,219 · Management $31,364 · Fundraising $13,315$1,023,898
IX-14 Information technologyPrograms $721,903 · Management $15,506 · Fundraising $49,871$787,280
IX-16 OccupancyPrograms $8,202,866 · Management $368,373 · Fundraising $47,359$8,618,598
IX-17 TravelPrograms $2,429,502 · Management $72,119 · Fundraising $85,126$2,586,747
IX-19 Conferences, conventions and meetingsPrograms $9,813 · Management $6,205$16,018
IX-20 InterestPrograms $837,003 · Management $32,417$869,420
IX-22 Depreciation, depletion and amortizationPrograms $5,180,862 · Management $76,572 · Fundraising $334$5,257,768
IX-23 InsurancePrograms $108,065 · Management $813,984$922,049
IX-24 Other expenses (24a–d)Programs $6,206,769 · Management $347,026 · Fundraising $324,241$6,878,036
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $83,382,744 · Management $8,387,511 · Fundraising $1,715,906$93,486,161
Part X · Balance sheet $633,150,192 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $4,855$5,907
X-2 Savings and temporary cash investmentsStart of year $36,694,314$50,088,348
X-3 Pledges and grants receivableStart of year $17,303,196$13,779,814
X-4 Accounts receivableStart of year $605,404$837,783
X-9 Prepaid expenses and deferred chargesStart of year $495,142$1,171,596
X-10c Land, buildings and equipment, netStart of year $125,700,955$126,419,712
X-11 Publicly traded securitiesStart of year $25,002,685$37,798,270
X-12 Other securitiesStart of year $335,189,261$363,885,795
X-13 Program-related investmentsStart of year $2,954,410$1,040,505
X-15 Other assetsStart of year $35,601,093$38,122,462
X-16 Total assetsStart of year $579,551,315$633,150,192
X-17 Accounts payable and accrued expensesStart of year $715,456$2,612,088
X-20 Tax-exempt bond liabilitiesStart of year $35,566,000$32,349,785
X-25 Other liabilitiesStart of year $9,812,844$9,844,890
X-26 Total liabilitiesStart of year $46,094,300$44,806,763
X-27 Net assets without donor restrictionsStart of year $251,148,755$257,162,329
X-28 Net assets with donor restrictionsStart of year $282,308,260$331,181,100
X-32 Total net assets or fund balancesStart of year $533,457,015$588,343,429
X-33 Total liabilities and net assetsStart of year $579,551,315$633,150,192
Part XI · Reconciliation of net assets $588,343,429 net assets at year end
XI-1 Total revenue$111,002,080
XI-2 Total expenses$93,486,161
XI-3 Revenue less expenses$17,515,919
XI-4 Net assets at start of year$533,457,015
XI-5 Net unrealized gains (losses) on investments$39,063,442
XI-9 Other changes in net assets−$1,692,947
XI-10 Net assets at end of year$588,343,429

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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