WHEATON COLLEGE
501 COLLEGE AVENUE, WHEATON, IL · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $249,246,344 | $197,785,333 | $1,003,460,598 |
| FY2024 | $206,496,165 | $184,983,837 | $924,227,872 |
| FY2023 | $181,635,763 | $175,303,151 | $857,761,516 |
| FY2022 | $231,489,050 | $169,298,848 | $813,843,520 |
| FY2021 | $280,776,360 | $163,618,905 | $927,011,301 |
| FY2020 | $176,853,672 | $162,031,167 | $761,446,074 |
| FY2019 | $212,894,342 | $160,312,654 | $766,079,502 |
| FY2018 | $190,097,750 | $155,118,932 | $732,950,383 |
| FY2017 | $173,359,454 | $153,098,738 | $681,375,273 |
| FY2016 | $169,142,222 | $147,226,308 | $617,264,885 |
| FY2015 | $179,537,824 | $142,499,175 | $636,677,068 |
| FY2014 | $187,258,956 | $137,100,353 | $624,980,150 |
| FY2013 | $166,866,005 | $136,475,266 | $554,774,583 |
| FY2012 | $126,407,163 | $130,325,386 | $501,625,177 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $49,459,723 | 26% |
| Program service revenue | $141,989,817 | 74% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $152,275,920 | 77% |
| Management & general | $38,183,165 | 19% |
| Fundraising | $7,326,248 | 4% |
What the numbers show
- Program service revenue made up 74% of total revenue in FY2025.
- Program services accounted for 77% of functional expenses, management & general 19%, and fundraising 4%.
- 77% of functional expenses went to program services in FY2025. That is higher than 24.4% of 123 Education organizations in IL.
- Net assets covered about 60.9 months of expenses at the end of the reporting year. That puts it in the 77th percentile among 2302 Education organizations in IL.
- Total revenue was higher than 99.7% of 2337 Education organizations in IL.
- Total revenue rose from $126,407,163 in FY2012 to $249,246,344 in FY2025, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 1 of 14 reported years (FY2012).
- The highest revenue on record here is $280,776,360 in FY2021.
- Net assets grew from $501,625,177 to $1,003,460,598 between FY2012 and FY2025.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
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.
IRS status
| Ruling year | 1976 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B420 — Education (in IL) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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