Southern Wesleyan University

Analysis

Southern Wesleyan University is a registered charity in United States, based in Central, SC. It received its IRS tax-exemption ruling in May 1970, 56 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a church under section 501(c)(3).

In the financial year ending June 2023, Southern Wesleyan University reported income of $29.8m and spending of $29.0m, spending 97% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $34.0m to $29.8m (-12%), an average of -6.4% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Southern Wesleyan University sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within SC. Charities of a similar size with the same main cause include Harlem Childrens Zone Promise Academy Charter School ($29.8m), Phoenix Country Day School ($29.9m) and Floridians for Quality Virtual Education Inc ($29.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $402k (1.4% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $47.0m against liabilities of $6.0m, net assets of $41.0m. It reported 509 employees.