Nonprofit · EIN 35-0885591
INDIANA WESLEYAN UNIVERSITY
Tax-exempt · MARION, IN 46953
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $269,090,976 | $223,084,044 | $46,006,932 | $685,685,861 | $60,011,177 | $625,674,684 |
| June 30, 2024 | 990 | $226,049,056 | $213,017,671 | $13,031,385 | $614,595,507 | $59,305,420 | $555,290,087 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $46,026,574
- of which government grants
- $4,447,796
- Program service revenue
- $209,483,591
- Investment income
- $12,641,321
- Net rental income
- $939,490
- Net gain from sales of assets
- -$132,716
- Other revenue
- $939,490
Expenses
- Grants and similar amounts paid
- $38,011,312
- Compensation of officers, directors and key employees
- $1,019,108
- Other salaries and wages
- $78,625,558
- Salaries, compensation and benefits (total)
- $100,631,535
- Professional fundraising fees
- $0
- Legal fees
- $130,840
- Accounting fees
- $66,410
- Occupancy
- $7,895,533
- Travel
- $5,983,963
- Depreciation
- $13,560,967
- Program services (functional)
- $197,437,231
- Management and general (functional)
- $22,982,144
- Fundraising (functional)
- $2,664,669
Balance sheet and other
- Total assets, start of year
- $614,595,507
- Total assets, end of year
- $685,685,861
- Total liabilities, end of year
- $60,011,177
- Net assets, end of year
- $625,674,684
- Land, buildings and equipment
- $227,281,947
- Publicly traded securities
- $377,093,568
- Net assets without donor restrictions
- $476,628,158
- Net assets with donor restrictions
- $149,046,526
- Gross receipts
- $330,635,193
- Employees
- 3,690
- Volunteers
- 435
- Year formed
- 1920
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jonathan S Kulaga | University President Trustee or director, Officer | 39 | $318,645 | $0 | $135,902 |
| Tod Dalberg | EVP/Chief Innovation & Strategy Officer Highest-paid employee | 40 | $164,853 | $0 | $80,675 |
| Wayne Schmidt | Trustee Trustee or director | 1 | $0 | $214,246 | $24,539 |
| Greg Tonagel | Head Coach, Men's Basketball Highest-paid employee | 40 | $169,761 | $0 | $32,735 |
| Eulala Eileen Hulme | Chancellor of National Global Key employee | 39 | $171,052 | $0 | $30,930 |
| Robert Friberg | Professor/Program Director, DPT Highest-paid employee | 40 | $149,817 | $0 | $48,834 |
| Karen Dowling | Exec VP/Chief People & Culture Officer Highest-paid employee | 40 | $147,929 | $0 | $31,892 |
| Warren Rogers | Professor, Blanchard Endowed Chair Highest-paid employee | 40 | $145,717 | $0 | $23,714 |
| Tiffany Lewis | Interim CFO (End 7/7/24) Officer | 40 | $124,505 | $0 | $29,036 |
| Johanna Rugh | Trustee Trustee or director | 1 | $0 | $115,192 | $18,196 |
| Jeff Rayis | CFO (Beg 7/8/24) Officer | 40 | $105,266 | $0 | $25,940 |
| Barry Hines | Trustee Trustee or director | 1 | $0 | $0 | $0 |
| Brian Harlow | Trustee Trustee or director | 1 | $0 | $0 | $0 |
| Carl Shepherd | Trustee Trustee or director | 1 | $0 | $0 | $0 |
| Christopher Conrad | Trustee Trustee or director | 1 | $0 | $0 | $0 |
23 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Cindy Krall | Trustee Trustee or director | 1 | $0 |
| Dale Sloan | Trustee Trustee or director | 1 | $0 |
| David Dimmich | Trustee Trustee or director | 1 | $0 |
| Debbye Turner Bell | Trustee Trustee or director | 1 | $0 |
| Diane Foley | Trustee Trustee or director | 1 | $0 |
| Donald Cady | Trustee Trustee or director | 1 | $0 |
| Gary Ott | Trustee Trustee or director | 1 | $0 |
| James Poore II | Trustee (End 12/31/24) Trustee or director | 1 | $0 |
| Jeffrey Freeman | Trustee (End 12/9/24) Trustee or director | 1 | $0 |
| Kent Morgan | Trustee (Beg 5/7/25) Trustee or director | 1 | $0 |
| Kevin Myers | Trustee Trustee or director | 1 | $0 |
| Michael Carmichael | Trustee Trustee or director | 1 | $0 |
| Michael Colaw | Trustee Trustee or director | 1 | $0 |
| Paul Anthes | Trustee Trustee or director | 1 | $0 |
| Petra Ray | Trustee (End 3/31/25) Trustee or director | 1 | $0 |
| Ryan Frank | Trustee Trustee or director | 1 | $0 |
| Sharon Epps | Trustee Trustee or director | 1 | $0 |
| Stephen Laudermilch | Trustee Trustee or director | 1 | $0 |
| Steven DeNeff | Trustee Trustee or director | 1 | $0 |
| Steven Edmondson | Trustee Trustee or director | 1 | $0 |
| Thomas Schmidt | Trustee Trustee or director | 1 | $0 |
| Trey Rohrman | Trustee (Beg 5/7/25) Trustee or director | 1 | $0 |
| Yaremi Alicea Morales | Trustee (End 5/5/25) Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 37 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dr Jonathan S Kulaga | University President Trustee or director, Officer | 39 | $327,158 | $66,034 |
| Nancy Schoonmaker | Executive VP & CFO (END 11/24) Officer | 39 | $184,725 | $18,126 |
| Tod J Dalberg | Chief Marketing Officer Highest-paid employee | 40 | $140,418 | $32,435 |
| Eulala (Eillen) Hulme | Chancellor of National and Global Key employee | 39 | $165,304 | $6,046 |
| Kevin J Wachtel | EX. DIRECTOR PARTNERSHIP DEV. & OPS. Highest-paid employee | 39 | $156,738 | $13,808 |
| Amanda J Drury | Professor Highest-paid employee | 40 | $114,069 | $35,418 |
| Michael D White | Lead Coordinator of International Studies Highest-paid employee | 40 | $143,093 | $3,926 |
| Robert J Childs | Professor/Director of Aviation/Dept Chair Highest-paid employee | 40 | $129,247 | $10,363 |
| Tiffany J Lewis | Interim CFO (BEGAN 11/24) Officer | 40 | $102,090 | $11,057 |
| Yamil Acevedo | Executive Vice President, Seminary | 40 | $73,649 | $36,330 |
| Connie Erpelding | Trustee (END 04/24) Trustee or director | 1 | $5,995 | $0 |
| Barry Hines | Trustee Trustee or director | 1 | $0 | $0 |
| Brian Harlow | Trustee Trustee or director | 1 | $0 | $0 |
| Carl Shepherd | Trustee Trustee or director | 1 | $0 | $0 |
| Christopher Conrad | Trustee Trustee or director | 1 | $0 | $0 |
| Cindy Krall | Trustee-Began March 2024 Trustee or director | 1 | $0 | $0 |
| Dale Sloan | Trustee Trustee or director | 1 | $0 | $0 |
| David Dimmich | Trustee Trustee or director | 1 | $0 | $0 |
| Debbye Turner Bell | Trustee Trustee or director | 1 | $0 | $0 |
| Diane Foley | Trustee Trustee or director | 1 | $0 | $0 |
| Donald Cady | Trustee Trustee or director | 1 | $0 | $0 |
| Evan Longstreth | Trustee (END 07/23) Trustee or director | 1 | $0 | $0 |
| Gary Ott | Trustee Trustee or director | 1 | $0 | $0 |
| James Poore II | Trustee Trustee or director | 1 | $0 | $0 |
| Jeffrey Freeman | Trustee Trustee or director | 1 | $0 | $0 |
| Kevin Myers | Trustee Trustee or director | 1 | $0 | $0 |
| Michael Carmichael | Trustee Trustee or director | 1 | $0 | $0 |
| Michael Colaw | Trustee Trustee or director | 1 | $0 | $0 |
| Paul Anthes | Trustee Trustee or director | 1 | $0 | $0 |
| Petra Ray | Trustee Trustee or director | 1 | $0 | $0 |
| Ryan Frank | Trustee Trustee or director | 1 | $0 | $0 |
| Sharon Epps | Trustee Trustee or director | 1 | $0 | $0 |
| Stephen Laudermilch | Trustee-Began Nov 2023 Trustee or director | 1 | $0 | $0 |
| Steven DeNeff | Trustee Trustee or director | 1 | $0 | $0 |
| Steven Edmondson | Trustee Trustee or director | 1 | $0 | $0 |
| Thomas Schmidt | Trustee Trustee or director | 1 | $0 | $0 |
| Yaremi Alicea Morales | Trustee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4201 SOUTH WASHINGTON STREET, MARION, IN 46953-4974
- In care of
- % JEFF RAYIS
- Principal officer (990 for 2024)
- JEFFREY RAYIS, 4201 S WASHINGTON STREET, MARION, IN 46953
- Signed the 990
- JEFFREY RAYIS, CFO
- Phone
- (765) 677-2947
- Website
- WWW.INDWES.EDU
- Return prepared by
- Forvis Mazars LLP
Mission
INDIANA WESLEYAN UNIVERSITY IS A CHRIST-CENTERED ACADEMIC COMMUNITY COMMITTED TO CHANGING THE WORLD BY DEVELOPING STUDENTS IN CHARACTER, SCHOLARSHIP, AND LEADERSHIP.
Program accomplishments
- INSTRUCTION:THIS PROGRAM ENCOMPASSES A WIDE RANGE OF INSTRUCTIONS IN LIBERAL ARTS CURRICULUM, AS WELL AS PROVIDING TEXTBOOK DISTRIBUTION AND RESIDENTIAL DINING SERVICES FOR STUDENTS. BOOKSTORE: THIS PROGRAM SERVICE PROVIDES TEXTBOOK DISTRIBUTION FOR STUDENTS. FOOD SERVICE: THIS PROGRAM SERVICE PROVIDES STUDENTS RESIDENTIAL DINING SERVICES.Expenses $197,437,231 · grants $38,011,312 · revenue $209,483,591
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 35-0885591
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1951
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B42Z)
- Assets (IRS master file)
- $685,685,861
- Income (IRS master file)
- $330,635,193
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $269,090,976 | $223,084,044 | $685,685,861 | XML |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $226,049,056 | $213,017,671 | $614,595,507 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $197,828,333 | $200,454,828 | $572,069,015 | IRS |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 35-0885591).
Questions about INDIANA WESLEYAN UNIVERSITY
- What is the EIN of INDIANA WESLEYAN UNIVERSITY?
- The employer identification number (EIN) of INDIANA WESLEYAN UNIVERSITY is 35-0885591.
- Is INDIANA WESLEYAN UNIVERSITY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1951.
- Are donations to INDIANA WESLEYAN UNIVERSITY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDIANA WESLEYAN UNIVERSITY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INDIANA WESLEYAN UNIVERSITY due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDIANA WESLEYAN UNIVERSITY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of INDIANA WESLEYAN UNIVERSITY?
- The 990 for the year ended June 30, 2025 names JEFFREY RAYIS.
- Who are the officers and directors of INDIANA WESLEYAN UNIVERSITY?
- The 990 for the year ended June 30, 2025 lists 38 people; 9 received compensation from the organization, the highest $318,645 (Jonathan S Kulaga, University President).
- How much revenue does INDIANA WESLEYAN UNIVERSITY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $269,090,976, expenses of $223,084,044 and total assets of $685,685,861 at year end.
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