Wheaton College FY2024 filing

Tax-deductible

Wheaton, IL501(c)(3)Since 1860Colleges & UniversitiesEIN 36-2182171

Wheaton College serves Jesus Christ and advances His kingdom through excellence in liberal arts and graduate programs that educate the whole person to build the church and benefit society worldwide.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$3.0M 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $44.4M a year · 21% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.0M
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
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $132K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$180.6M
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 20 voting members
Looks good: 19 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$206.5M
+14% vs prior year
Spent
$185.0M
To programs
78%
Net assets
$924.2M
By yearFY2020–FY2024
Revenue
$206.5M
FY2024▲ +14%
Revenue by fiscal year
FY2020$176.9M
FY2021$280.8M
FY2022$231.5M
FY2023$181.6M
FY2024$206.5M
FY2024$249.2M
Expenses
$185.0M
FY2024▲ +6%
Expenses by fiscal year
FY2020$162.0M
FY2021$163.6M
FY2022$169.3M
FY2023$175.3M
FY2024$185.0M
FY2024$197.8M
Net assets
$924.2M
FY2024▲ +8%
Net assets by fiscal year
FY2020$761.4M
FY2021$927.0M
FY2022$813.8M
FY2023$857.8M
FY2024$924.2M
FY2024$1.0B

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 (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1976.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $145.2M Management & general 18% · $32.9M Fundraising 4% · $6.9M

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

Who runs it and what they're paid

35 people listed on the 990; $3.0M 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
President/Trustee
$389,576Pt VII · Sec A
VP for Finance & Operations, Treasurer
$282,882Pt VII · Sec A
VP for Advancement & Alumni Relations
$242,743Pt VII · Sec A
Provost
$229,159Pt VII · Sec A
Chief Information Officer
$195,637Pt VII · Sec A
Investment Manager
$185,740Pt VII · Sec A
Chief Enrollment Management Officer
$181,069Pt VII · Sec A
Professor
$176,757Pt VII · Sec A

Philip G Ryken’s $408K as President/Trustee is at the 27th 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Stanton Jones—————$480,421
Dale a Kemp—————$422,432
Philip G Ryken$407,626$389,576$380,220$338,341$363,618$376,846
J Chadwick Rynbrandt$264,476$282,882$280,866$257,084$266,444$122,780
Kirk D Farney$252,997$242,743$232,570$220,066$232,342$228,017
Karen Lee$238,294$229,159$224,322$212,624$104,245—
Margaret Diddams————$146,467$224,561
Alan Wolff$202,808$195,637$207,509———

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 Wheaton College executive salaries →

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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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides Christ-centered liberal arts and graduate education to prepare students for service in the church and society worldwide, while offering on-campus housing and dining.

Provided by the organization

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3 program services account for $141.0M of program spending, described in the organization's own filed words · FY2023.
01

Education and Instruction

The college offers undergraduate degrees in 47 areas of major study including 7 in the conservatory; 13 master of arts degrees and 3 doctoral degrees. There are approximately 2700 students enrolled at the college.

$100.4Mprogram expense
02

Student Services

Programs are provided for the enrichment of the students to allow them to experience life as a christian community. Wheaton college athletics sponsors 21 sports for male and female student athletes.

$27.6Mprogram expense
03

Auxiliary Enterprises

The college provides room and board for its students.

$13.1Mprogram expense

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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
See all 4 funders →
Grants paid · 208 grants · $271.9M · 2019–2024
Unitemized GrantFY2024$34,404,458
Unitemized GrantFY2024$15,140,671
Unitemized GrantFY2024$1,459,719
Unitemized GrantFY2024$1,200,006
Unitemized GrantFY2024$910,818
Unitemized GrantFY2024$257,892
Mars Hill Ministries INCOH · FY2024$250,000
Covenant Church of NaplesFL · FY2024$200,000
Grace Bible Presbyterian ChurchFY2024$40,000
Messiah Lutheran Church of RoanokeFY2024$16,000
Cef of Greater CincinnatiOH · FY2024$15,000
Village Chapel INCNC · FY2024$14,000
See all 208 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$206.5M
Ln 12
Fees for servicesLn 2g$131.2M
Gifts and grantsLn 1h$42.3M
Investment incomeLn 3$32.1M
Money outPt IX
$185.0M
Ln 25
Programscol B$145.2M
Managementcol C$32.9M
Fundraisingcol D$6.9M
Owns and owesPt X
$924.2M
net assets · Ln 32
Cash and savingsLn 1–2$51.7M
Total assetsLn 16$1.1B
LiabilitiesLn 26$180.6M
PeoplePt VI, VII
35
listed · VII A
PaidVII A15
Voting boardVI 1a20
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$42.3M
Government grantsLn 1e$1.2M
Noncash giftsLn 1g$3.5M
Fees for servicesLn 2g$131.2M
Investment incomeLn 3$32.1M
Other incomeLn 4–11$879K
Gains on assetsLn 7$15.2M
Total revenueLn 12$206.5M
Assets in detailPt X, end of year
SavingsLn 2$51.7M
Cash and savings togetherLn 1–2$51.7M
InvestmentsLn 11–13$766.0M
Land, buildings, equipmentLn 10c$249.6M
Other assetsLn 15$12.8M
Total assetsLn 16$1.1B
LiabilitiesLn 26$180.6M
Net assetsLn 32$924.2M
OperationsPt I, VI
EmployeesI 52,802
VolunteersI 676
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$45.8M$51.7M
InvestmentsLn 11–13$718.8M$766.0M
Land, buildings, equipmentLn 10c$254.1M$249.6M
Total assetsLn 16$1.05B$1.10B
LiabilitiesLn 26$190.5M$180.6M
Net assetsLn 32$857.8M$924.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.1M$1.1M
Grants to domestic individualsLn 2$47.6M$47.6M
Grants and assistance to foreign recipientsLn 3$20K$20K
Pay of current officers, directors and key staffLn 5$2.8M$766K$1.7M$340K
Pay of disqualified personsLn 6$296K$296K
Other salaries and wagesLn 7$58.3M$43.5M$10.1M$4.7M
Pension plan contributionsLn 8$2.6M$1.9M$448K$206K
Other employee benefitsLn 9$9.3M$6.9M$1.6M$744K
Payroll taxesLn 10$4.2M$3.1M$721K$332K
Legal feesLn 11b$796K$796K
Accounting feesLn 11c$238K$238K
Investment management feesLn 11f$441K$441K
Other fees for servicesLn 11g$4.8M$3.6M$1.2M$48K
Advertising and promotionLn 12$1.2M$319K$721K$142K
Office expensesLn 13$2.4M$1.8M$602K$73K
Information technologyLn 14$3.0M$833K$2.2M
OccupancyLn 16$8.6M$8.4M$173K$86K
TravelLn 17$3.2M$2.8M$127K$222K
Conferences, conventions and meetingsLn 19$345K$250K$95K
InterestLn 20$4.0M$4.0M
Depreciation, depletion and amortizationLn 22$15.6M$13.7M$1.9M
InsuranceLn 23$2.1M$530K$1.5M
Other expenses (24a–d)Ln 24$2.9M$1.6M$1.2M$31K
All other expensesLn 24e$9.2M$6.5M$2.7M$0
Total functional expensesLn 25$185.0M$145.2M$32.9M$6.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $206.5M$185.0M$21.5M$924.2M 990 PDF
FY2023 $181.6M$175.3M$6.3M$857.8M 990 PDF
FY2022 $231.5M$169.3M$62.2M$813.8M 990 PDF
FY2021 $280.8M$163.6M$117.2M$927.0M 990 PDF
FY2020 $176.9M$162.0M$14.8M$761.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $206,496,165 across 12 lines filed
VIII-1d Related organizations$453,000
VIII-1e Government grants$1,152,552
VIII-1f All other contributions, gifts and grants$40,692,738
VIII-1g Noncash contributions (included above)$3,465,077
VIII-1h Total contributions, gifts and grants$42,298,290
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $131,216,623$131,216,623
VIII-3 Investment incomeUnrelated business $104,183 · Excluded from tax $16,748,922$16,853,105
VIII-5 RoyaltiesExcluded from tax $4,879$4,879
VIII-6 Net rental income or lossUnrelated business $398 · Excluded from tax $37,435$37,833
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,249,333$15,249,333
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $817,075 · Unrelated business $19,027$836,102
VIII-12 Total revenueRelated to mission $132,033,698 · Unrelated business $123,608 · Excluded from tax $32,040,569$206,496,165
Part IX · Statement of functional expenses $184,983,837 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $1,060,385$1,060,385
IX-2 Grants to domestic individualsPrograms $47,559,533$47,559,533
IX-3 Grants and assistance to foreign recipientsPrograms $19,800$19,800
IX-5 Pay of current officers, directors and key staffPrograms $765,801 · Management $1,730,143 · Fundraising $340,356$2,836,300
IX-6 Pay of disqualified personsManagement $296,494$296,494
IX-7 Other salaries and wagesPrograms $43,517,848 · Management $10,126,348 · Fundraising $4,664,713$58,308,909
IX-8 Pension plan contributionsPrograms $1,926,102 · Management $448,193 · Fundraising $206,460$2,580,755
IX-9 Other employee benefitsPrograms $6,940,443 · Management $1,615,001 · Fundraising $743,952$9,299,396
IX-10 Payroll taxesPrograms $3,099,322 · Management $721,194 · Fundraising $332,219$4,152,735
IX-11b Legal feesManagement $795,747$795,747
IX-11c Accounting feesManagement $237,769$237,769
IX-11f Investment management feesManagement $441,326$441,326
IX-11g Other fees for servicesPrograms $3,553,179 · Management $1,200,398 · Fundraising $48,016$4,801,593
IX-12 Advertising and promotionPrograms $319,171 · Management $721,090 · Fundraising $141,854$1,182,115
IX-13 Office expensesPrograms $1,766,438 · Management $602,002 · Fundraising $73,252$2,441,692
IX-14 Information technologyPrograms $832,906 · Management $2,178,850$3,011,756
IX-16 OccupancyPrograms $8,379,995 · Management $172,783 · Fundraising $86,392$8,639,170
IX-17 TravelPrograms $2,821,913 · Management $126,828 · Fundraising $221,948$3,170,689
IX-19 Conferences, conventions and meetingsPrograms $249,708 · Management $95,456$345,164
IX-20 InterestManagement $4,037,188$4,037,188
IX-22 Depreciation, depletion and amortizationPrograms $13,684,792 · Management $1,921,971$15,606,763
IX-23 InsurancePrograms $529,933 · Management $1,521,960$2,051,893
IX-24 Other expenses (24a–d)Programs $1,632,168 · Management $1,228,858 · Fundraising $31,264$2,892,290
IX-24e All other expensesPrograms $6,510,160 · Management $2,704,215 · Fundraising $0$9,214,375
IX-25 Total functional expensesPrograms $145,169,597 · Management $32,923,814 · Fundraising $6,890,426$184,983,837
Part X · Balance sheet $1,104,861,704 assets, 19 lines filed
Asset lines not itemized here account for $3,923,210; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $45,823,730$51,738,926
X-3 Pledges and grants receivableStart of year $5,859,898$14,431,680
X-4 Accounts receivableStart of year $2,942,184$3,767,505
X-9 Prepaid expenses and deferred chargesStart of year $3,281,578$2,578,680
X-10c Land, buildings and equipment, netStart of year $254,095,005$249,625,062
X-11 Publicly traded securitiesStart of year $626,980,793$655,915,226
X-12 Other securitiesStart of year $90,802,469$108,629,045
X-13 Program-related investmentsStart of year $992,027$1,437,569
X-15 Other assetsStart of year $13,540,281$12,814,801
X-16 Total assetsStart of year $1,048,214,568$1,104,861,704
X-17 Accounts payable and accrued expensesStart of year $12,077,404$11,807,935
X-19 Deferred revenueStart of year $5,033,792$5,190,303
X-24 Unsecured notes and loans payableStart of year $72,000,000$72,000,000
X-25 Other liabilitiesStart of year $101,341,856$91,635,594
X-26 Total liabilitiesStart of year $190,453,052$180,633,832
X-27 Net assets without donor restrictionsStart of year $376,115,076$349,472,057
X-28 Net assets with donor restrictionsStart of year $481,646,440$574,755,815
X-32 Total net assets or fund balancesStart of year $857,761,516$924,227,872
X-33 Total liabilities and net assetsStart of year $1,048,214,568$1,104,861,704
Part XI · Reconciliation of net assets $924,227,872 net assets at year end
XI-1 Total revenue$206,496,165
XI-2 Total expenses$184,983,837
XI-3 Revenue less expenses$21,512,328
XI-4 Net assets at start of year$857,761,516
XI-5 Net unrealized gains (losses) on investments$50,718,040
XI-9 Other changes in net assets−$5,764,012
XI-10 Net assets at end of year$924,227,872

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

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