2022-2023 WLC Annual Report

Wisconsin Lutheran College students who are awarded donor-funded scholarships annually thank their scholarship donors. Below you’ll find information about three such students, including excerpts from their thank-you notes. Gifts to scholarships make a big impact in the lives of WLC students. We thank all those who generously donate to student scholarships each year.

ELIJAH STRUTZ ’25

Verona, Wisconsin Finance Major

Despite a challenging course load and participating in both cross country and track and field for the Warriors, our unchanging, loving God has been there for me every step of the way. The scholarship I receive has a big impact on me, and I’m incredibly thankful to receive it.

The award not only helps me today, but also sets me up for my future after college. I have loved WLC more and more as I spend time in class with peers and professors, with great friends, and with teammates.

I am majoring in finance with an accounting minor to prepare me for a job as a financial analyst. Over the summer I completed an internship with Northwestern Mutual as a financial representative. I am grateful for my education at WLC and for your generous support.

TREVION GREEN ’24

Miami, Florida Sports Management Major

I am writing to pass along my heartfelt gratitude for the tremendous support that my scholarship has provided me with. As I prepare to graduate next May, I cannot help but reflect on the incredible journey that brought me to this point. Your generosity has played a pivotal role in my academic and personal development, and I want to express how deeply thankful I am for the opportunities that my scholarship has given me. As a first-generation college student, my journey through higher education has been marked with challenges and uncertainties.

Your support has not only relieved my financial burden, but has also instilled in me a sense of confidence and determination to succeed. I am proud to say that I have not only excelled academically but have also been able to fulfill my passion for playing football throughout my time at WLC.

TRICIA BIDINGER ’25

Cascade, Wisconsin Nursing Major

Thank you so much for your generous gift. Working a full-time job during the summer doesn’t come close to covering the cost of college for me. Without your generosity, it would be much harder to attend Wisconsin Lutheran College.

With support from you I am able to pay more attention to my studies.

God has always provided for me and I know He is using you to do that. WLC has helped me find ways to spend time with Jesus, and I’ve made good Christian friends who help me keep God at the center of my life. I’m part of the Christian Leadership Certificate Program, and I am the Student Organizational Council president on Student Senate. I also volunteer and help organize many activities on campus. Outside of class I love to be outside, go hiking, and dabble in art when I have the time.

2022-2023

UNDERGRADUATE FAST FACTS Average class size: 18 Student/faculty ratio: 12:1

Wisconsin Lutheran College is a nationally ranked, independent Christian college in Milwaukee that serves nearly 1,100 undergraduate and graduate students through its on-campus and online programming.

The college, which prepares students for lives of Christian leadership, is recognized for its academic excellence and superior student experience.

99% of full-time students receive financial assistance 97% of students are between the ages of 18 and 22 Percent of resident undergraduate students: 70% Student demographics: 32 states and 4 foreign countries Grade point average is 3.52 for incoming freshmen Ministry, outreach, and service opportunities Co-curricular activities: member of NCAA Division III and Northern Athletics Collegiate Conference with 20 varsity sports; intramural sports; choir, chamber choir, concert band, music ensembles, and theatre productions; 35+ clubs and organizations

THE MISSION OF WISCONSIN LUTHERAN COLLEGE Wisconsin Lutheran College, affiliated with the Wisconsin Evangelical Lutheran Synod, is a Lutheran liberal arts college for Christian men and women. The college is committed to providing quality teaching, scholarship, and service that are rooted in Holy Scripture; promoting the spiritual growth of students, faculty, and staff; and preparing students for lives of Christian leadership.

Annual Report 2022-2023

Dear Friends,

BOARD OF REGENTS 2022-2023

WLC CABINET 2022-2023 Dr. Daniel W. Johnson President Dr. John D. Kolander Provost Jon Boche ’01 Vice President of Student Life Lucas Faust ’02 Vice President of Enrollment Jon Flanagan Vice President of Human Resources Diane Hoehnke Vice President of Finance Dr. Richard Mannisto ’94 Vice President of Advancement Ryan Oertel Vice President of Operations

June 30, 2023

Balance June 30, 2022

ASSETS

We began the year with our highest-ever freshman enrollment, record undergrad enrollment, and the most resident students ever.

Our freshman class was comprised of 37% first-generation college students and nearly 27% students of color.

Cash, investments, and charitable trust

$

55,845,000

$

52,978,000

Contributions receivable

$

1,503,000

$

2,101,000

Other assets

$

569,000

$

683,000

Land, building, and equipment, net

$

65,913,000

$

67,819,000

$

123,830,000

$

123,581,000

TOTAL ASSETS

INVESTMENTS

LIABILITIES AND NET ASSETS LIABILITIES

Highlights included two special 50th anniversary celebrations: an open house for alumni, parents, and friends in September, and a special Founders’ Day service and public proclamation ceremony on January 31, 2023.

18,258,000

Interest in charitable trust

$

364,000

Quasi- (board designated-) endowment*

$

8,582,000

Legacy Fund endowment*

$

16,363,000

Split interest agreements/cash

$

940,000

MARKET VALUE

$

44,507,000

1,184,000

$

1,203,000

TRANSACTIONS

Annuities payable

$

171,000

$

183,000

Contributions

$

1,106,000

Long-term bonds and notes payable

$

48,253,000

$

48,738,000

Earned income and market price adjustments

$

3,432,000

TOTAL LIABILITIES

$

49,608,000

$

50,124,000

Scholarships granted

$

(1,400,000)

NET INCREASE

$

3,138,000

Permanent endowment*

$

19,022,000

Interest in charitable trust

$

349,000

Quasi- (board designated-) endowment*

$

10,099,000

Legacy Fund endowment*

$

17,178,000

Split interest agreements/cash

$

997,000

TOTAL MARKET VALUE

$

47,645,000

In June, I was honored to present Kurt and Brenda Warner with the 2023 Divine Servant Award during a celebration at Discovery World in downtown Milwaukee. More than 400 guests joined together to raise over $850,000 in support of student scholarships at WLC.

Unrestricted

$

30,292,000

$

31,734,000

Temporarily restricted

$

34,596,000

$

32,714,000

Permanently restricted

$

9,334,000

$

9,009,000

TOTAL NET ASSETS

$

74,222,000

$

73,457,000

$

123,830,000

$

123,581,000

TOTAL LIABILITIES AND NET ASSETS

Balance June 30, 2023 INVESTMENTS

REVENUE AND EXPENSES – audited (rounded to 000s)

As we thank our gracious God for all that He has done for WLC since 1973, we also turn our eyes to the future. The college recently launched two new majors (fermentation science and digital marketing), along with a master’s program in sport and recreation management. We’re in the midst of a comprehensive campaign designed to help WLC serve a growing student body while updating campus facilities and technology.

OPERATING REVENUE for the fiscal year ended June 30, 2023

And even as we address the changing demographics in our country and the ensuing enrollment challenges many colleges will face, WLC holds steadfast in its commitment to providing a high-quality, Christian higher-education experience.

OPERATING REVENUE

OPERATING EXPENSES for the fiscal year ended June 30, 2023

Gross tuition and fees

$

32,248,000

Institutional scholarships

$

17,766,000

Room and board

$

8,245,000

Salaries

$

11,665,000

Unrestricted contributions

$

5,528,000

Benefits

$

4,499,000

Restricted contributions

$

3,071,000

Supplies and expenses

$

6,642,000

Endowment earnings

$

1,643,000

Contract services

$

5,462,000

Other income

$

1,237,000

Utilities

$

2,091,000

$

51,972,000

Depreciation

$

3,166,000

Interest

$

1,990,000

OPERATING EXPENSES

$

53,281,000

2% 3%

6% 11%

4%

Operating revenue 62%

$

$

NET ASSETS

We thank you for your support over the past five decades.

Without you, we couldn’t have fulfilled our mission of preparing thousands of students for lives of Christian leadership.

Permanent endowment*

Accounts payable and other liabilities

In April, WLC and the Center for Christian Leadership hosted platinum-selling recording artist and 10-time Grammy Award nominee Tauren Wells and his “The Joy in the Morning Tour” for a sold-out show in our Time of Grace Center.

In Christ’s service with you,

June 30, 2022

16% Total expenses

$ 51,972,000

33%

6% 4% 10%

$ (53,281,000)

Non-operating investment change

$

2,074,000

TOTAL CHANGE IN NET ASSETS

$

765,000

*includes realized and unrealized gains and earned income In 2022-2023, the overall return on the market value of the endowment before scholarship awards was an increase of 7.3%.

ENDOWMENT MARKET VALUE AND STUDENT ENROLLMENT $50,000,000

1,500

$40,000,000

1,200

$30,000,000

900

$20,000,000

600

$10,000,000

300 Endowment Market Value

13%

Dr. Daniel W. Johnson, President Wisconsin Lutheran College

$0

22%

8%

ENROLLMENT

C. Peter Aisbet (Chair) Slinger, Wisconsin Steven Boettcher Hartland, Wisconsin Matthew Burow West Bend, Wisconsin Rev. James Buske Milwaukee, Wisconsin Gary Drska Muskego, Wisconsin Bruce Eberle Vienna, Virginia Rev. Jonathan Enter South St. Paul, Minnesota Patricia Freer Fremont, Wisconsin Stephen Granberg Appleton, Wisconsin Dr. Terry Gueldner Manitowoc, Wisconsin Charles Kluenker Roseville, California Rev. Carlos Leyrer Doral, Florida Dr. R. Bowen Loftin Bryan, Texas Jamie Luehring Cedarburg, Wisconsin Rev. Jeremy Mattek Willis, Texas Dr. David Miller Abrams, Wisconsin Dawn Myers Naples, Florida Rev. Jared Oldenburg Castle Rock, Colorado John Pahmeier ’92 Mequon, Wisconsin Greg Patterson ’12 Milwaukee, Wisconsin Tom Plath Germantown, Tennessee Kent Raabe Pewaukee, Wisconsin Dr. William Raasch Wauwatosa, Wisconsin Jim Reinert Parkville, Missouri Rev. Aaron Robinson New Ulm, Minnesota Paul Scriver Kansasville, Wisconsin Dr. Zach Shiels ’09 Waukesha, Wisconsin Chellee Siewert Big Bend, Wisconsin C. Daniel Stefferud Redondo Beach, California Dr. Gary Stimac Houston, Texas Lawrence Totsky Menomonee Falls, Wisconsin Debra Waller Kenosha, Wisconsin Dr. Ronald White Fort Myers, Florida Dr. Rhoda Wolle St. Francis, Wisconsin Mark Wrightsman Venice, Florida

ENDOWMENT – audited (rounded to 000s)

STATEMENT OF FINANCIAL POSITION – audited (rounded to 000s)

MARKET VALUE

As we reflect on the 2022-2023 academic year, we’re grateful for the tremendous blessings that our loving God has showered upon Wisconsin Lutheran College over the past 50 years.

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

0

Student Enrollment

Wisconsin Lutheran College students who are awarded donor-funded scholarships annually thank their scholarship donors. Below you’ll find information about three such students, including excerpts from their thank-you notes. Gifts to scholarships make a big impact in the lives of WLC students. We thank all those who generously donate to student scholarships each year.

ELIJAH STRUTZ ’25

Verona, Wisconsin Finance Major

Despite a challenging course load and participating in both cross country and track and field for the Warriors, our unchanging, loving God has been there for me every step of the way. The scholarship I receive has a big impact on me, and I’m incredibly thankful to receive it.

The award not only helps me today, but also sets me up for my future after college. I have loved WLC more and more as I spend time in class with peers and professors, with great friends, and with teammates.

I am majoring in finance with an accounting minor to prepare me for a job as a financial analyst. Over the summer I completed an internship with Northwestern Mutual as a financial representative. I am grateful for my education at WLC and for your generous support.

TREVION GREEN ’24

Miami, Florida Sports Management Major

I am writing to pass along my heartfelt gratitude for the tremendous support that my scholarship has provided me with. As I prepare to graduate next May, I cannot help but reflect on the incredible journey that brought me to this point. Your generosity has played a pivotal role in my academic and personal development, and I want to express how deeply thankful I am for the opportunities that my scholarship has given me. As a first-generation college student, my journey through higher education has been marked with challenges and uncertainties.

Your support has not only relieved my financial burden, but has also instilled in me a sense of confidence and determination to succeed. I am proud to say that I have not only excelled academically but have also been able to fulfill my passion for playing football throughout my time at WLC.

TRICIA BIDINGER ’25

Cascade, Wisconsin Nursing Major

Thank you so much for your generous gift. Working a full-time job during the summer doesn’t come close to covering the cost of college for me. Without your generosity, it would be much harder to attend Wisconsin Lutheran College.

With support from you I am able to pay more attention to my studies.

God has always provided for me and I know He is using you to do that. WLC has helped me find ways to spend time with Jesus, and I’ve made good Christian friends who help me keep God at the center of my life. I’m part of the Christian Leadership Certificate Program, and I am the Student Organizational Council president on Student Senate. I also volunteer and help organize many activities on campus. Outside of class I love to be outside, go hiking, and dabble in art when I have the time.

2022-2023

UNDERGRADUATE FAST FACTS Average class size: 18 Student/faculty ratio: 12:1

Wisconsin Lutheran College is a nationally ranked, independent Christian college in Milwaukee that serves nearly 1,100 undergraduate and graduate students through its on-campus and online programming.

The college, which prepares students for lives of Christian leadership, is recognized for its academic excellence and superior student experience.

99% of full-time students receive financial assistance 97% of students are between the ages of 18 and 22 Percent of resident undergraduate students: 70% Student demographics: 32 states and 4 foreign countries Grade point average is 3.52 for incoming freshmen Ministry, outreach, and service opportunities Co-curricular activities: member of NCAA Division III and Northern Athletics Collegiate Conference with 20 varsity sports; intramural sports; choir, chamber choir, concert band, music ensembles, and theatre productions; 35+ clubs and organizations

THE MISSION OF WISCONSIN LUTHERAN COLLEGE Wisconsin Lutheran College, affiliated with the Wisconsin Evangelical Lutheran Synod, is a Lutheran liberal arts college for Christian men and women. The college is committed to providing quality teaching, scholarship, and service that are rooted in Holy Scripture; promoting the spiritual growth of students, faculty, and staff; and preparing students for lives of Christian leadership.

Annual Report 2022-2023

Dear Friends,

BOARD OF REGENTS 2022-2023

WLC CABINET 2022-2023 Dr. Daniel W. Johnson President Dr. John D. Kolander Provost Jon Boche ’01 Vice President of Student Life Lucas Faust ’02 Vice President of Enrollment Jon Flanagan Vice President of Human Resources Diane Hoehnke Vice President of Finance Dr. Richard Mannisto ’94 Vice President of Advancement Ryan Oertel Vice President of Operations

June 30, 2023

Balance June 30, 2022

ASSETS

We began the year with our highest-ever freshman enrollment, record undergrad enrollment, and the most resident students ever.

Our freshman class was comprised of 37% first-generation college students and nearly 27% students of color.

Cash, investments, and charitable trust

$

55,845,000

$

52,978,000

Contributions receivable

$

1,503,000

$

2,101,000

Other assets

$

569,000

$

683,000

Land, building, and equipment, net

$

65,913,000

$

67,819,000

$

123,830,000

$

123,581,000

TOTAL ASSETS

INVESTMENTS

LIABILITIES AND NET ASSETS LIABILITIES

Highlights included two special 50th anniversary celebrations: an open house for alumni, parents, and friends in September, and a special Founders’ Day service and public proclamation ceremony on January 31, 2023.

18,258,000

Interest in charitable trust

$

364,000

Quasi- (board designated-) endowment*

$

8,582,000

Legacy Fund endowment*

$

16,363,000

Split interest agreements/cash

$

940,000

MARKET VALUE

$

44,507,000

1,184,000

$

1,203,000

TRANSACTIONS

Annuities payable

$

171,000

$

183,000

Contributions

$

1,106,000

Long-term bonds and notes payable

$

48,253,000

$

48,738,000

Earned income and market price adjustments

$

3,432,000

TOTAL LIABILITIES

$

49,608,000

$

50,124,000

Scholarships granted

$

(1,400,000)

NET INCREASE

$

3,138,000

Permanent endowment*

$

19,022,000

Interest in charitable trust

$

349,000

Quasi- (board designated-) endowment*

$

10,099,000

Legacy Fund endowment*

$

17,178,000

Split interest agreements/cash

$

997,000

TOTAL MARKET VALUE

$

47,645,000

In June, I was honored to present Kurt and Brenda Warner with the 2023 Divine Servant Award during a celebration at Discovery World in downtown Milwaukee. More than 400 guests joined together to raise over $850,000 in support of student scholarships at WLC.

Unrestricted

$

30,292,000

$

31,734,000

Temporarily restricted

$

34,596,000

$

32,714,000

Permanently restricted

$

9,334,000

$

9,009,000

TOTAL NET ASSETS

$

74,222,000

$

73,457,000

$

123,830,000

$

123,581,000

TOTAL LIABILITIES AND NET ASSETS

Balance June 30, 2023 INVESTMENTS

REVENUE AND EXPENSES – audited (rounded to 000s)

As we thank our gracious God for all that He has done for WLC since 1973, we also turn our eyes to the future. The college recently launched two new majors (fermentation science and digital marketing), along with a master’s program in sport and recreation management. We’re in the midst of a comprehensive campaign designed to help WLC serve a growing student body while updating campus facilities and technology.

OPERATING REVENUE for the fiscal year ended June 30, 2023

And even as we address the changing demographics in our country and the ensuing enrollment challenges many colleges will face, WLC holds steadfast in its commitment to providing a high-quality, Christian higher-education experience.

OPERATING REVENUE

OPERATING EXPENSES for the fiscal year ended June 30, 2023

Gross tuition and fees

$

32,248,000

Institutional scholarships

$

17,766,000

Room and board

$

8,245,000

Salaries

$

11,665,000

Unrestricted contributions

$

5,528,000

Benefits

$

4,499,000

Restricted contributions

$

3,071,000

Supplies and expenses

$

6,642,000

Endowment earnings

$

1,643,000

Contract services

$

5,462,000

Other income

$

1,237,000

Utilities

$

2,091,000

$

51,972,000

Depreciation

$

3,166,000

Interest

$

1,990,000

OPERATING EXPENSES

$

53,281,000

2% 3%

6% 11%

4%

Operating revenue 62%

$

$

NET ASSETS

We thank you for your support over the past five decades.

Without you, we couldn’t have fulfilled our mission of preparing thousands of students for lives of Christian leadership.

Permanent endowment*

Accounts payable and other liabilities

In April, WLC and the Center for Christian Leadership hosted platinum-selling recording artist and 10-time Grammy Award nominee Tauren Wells and his “The Joy in the Morning Tour” for a sold-out show in our Time of Grace Center.

In Christ’s service with you,

June 30, 2022

16% Total expenses

$ 51,972,000

33%

6% 4% 10%

$ (53,281,000)

Non-operating investment change

$

2,074,000

TOTAL CHANGE IN NET ASSETS

$

765,000

*includes realized and unrealized gains and earned income In 2022-2023, the overall return on the market value of the endowment before scholarship awards was an increase of 7.3%.

ENDOWMENT MARKET VALUE AND STUDENT ENROLLMENT $50,000,000

1,500

$40,000,000

1,200

$30,000,000

900

$20,000,000

600

$10,000,000

300 Endowment Market Value

13%

Dr. Daniel W. Johnson, President Wisconsin Lutheran College

$0

22%

8%

ENROLLMENT

C. Peter Aisbet (Chair) Slinger, Wisconsin Steven Boettcher Hartland, Wisconsin Matthew Burow West Bend, Wisconsin Rev. James Buske Milwaukee, Wisconsin Gary Drska Muskego, Wisconsin Bruce Eberle Vienna, Virginia Rev. Jonathan Enter South St. Paul, Minnesota Patricia Freer Fremont, Wisconsin Stephen Granberg Appleton, Wisconsin Dr. Terry Gueldner Manitowoc, Wisconsin Charles Kluenker Roseville, California Rev. Carlos Leyrer Doral, Florida Dr. R. Bowen Loftin Bryan, Texas Jamie Luehring Cedarburg, Wisconsin Rev. Jeremy Mattek Willis, Texas Dr. David Miller Abrams, Wisconsin Dawn Myers Naples, Florida Rev. Jared Oldenburg Castle Rock, Colorado John Pahmeier ’92 Mequon, Wisconsin Greg Patterson ’12 Milwaukee, Wisconsin Tom Plath Germantown, Tennessee Kent Raabe Pewaukee, Wisconsin Dr. William Raasch Wauwatosa, Wisconsin Jim Reinert Parkville, Missouri Rev. Aaron Robinson New Ulm, Minnesota Paul Scriver Kansasville, Wisconsin Dr. Zach Shiels ’09 Waukesha, Wisconsin Chellee Siewert Big Bend, Wisconsin C. Daniel Stefferud Redondo Beach, California Dr. Gary Stimac Houston, Texas Lawrence Totsky Menomonee Falls, Wisconsin Debra Waller Kenosha, Wisconsin Dr. Ronald White Fort Myers, Florida Dr. Rhoda Wolle St. Francis, Wisconsin Mark Wrightsman Venice, Florida

ENDOWMENT – audited (rounded to 000s)

STATEMENT OF FINANCIAL POSITION – audited (rounded to 000s)

MARKET VALUE

As we reflect on the 2022-2023 academic year, we’re grateful for the tremendous blessings that our loving God has showered upon Wisconsin Lutheran College over the past 50 years.

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

0

Student Enrollment

Dear Friends,

BOARD OF REGENTS 2022-2023

WLC CABINET 2022-2023 Dr. Daniel W. Johnson President Dr. John D. Kolander Provost Jon Boche ’01 Vice President of Student Life Lucas Faust ’02 Vice President of Enrollment Jon Flanagan Vice President of Human Resources Diane Hoehnke Vice President of Finance Dr. Richard Mannisto ’94 Vice President of Advancement Ryan Oertel Vice President of Operations

June 30, 2023

Balance June 30, 2022

ASSETS

We began the year with our highest-ever freshman enrollment, record undergrad enrollment, and the most resident students ever.

Our freshman class was comprised of 37% first-generation college students and nearly 27% students of color.

Cash, investments, and charitable trust

$

55,845,000

$

52,978,000

Contributions receivable

$

1,503,000

$

2,101,000

Other assets

$

569,000

$

683,000

Land, building, and equipment, net

$

65,913,000

$

67,819,000

$

123,830,000

$

123,581,000

TOTAL ASSETS

INVESTMENTS

LIABILITIES AND NET ASSETS LIABILITIES

Highlights included two special 50th anniversary celebrations: an open house for alumni, parents, and friends in September, and a special Founders’ Day service and public proclamation ceremony on January 31, 2023.

18,258,000

Interest in charitable trust

$

364,000

Quasi- (board designated-) endowment*

$

8,582,000

Legacy Fund endowment*

$

16,363,000

Split interest agreements/cash

$

940,000

MARKET VALUE

$

44,507,000

1,184,000

$

1,203,000

TRANSACTIONS

Annuities payable

$

171,000

$

183,000

Contributions

$

1,106,000

Long-term bonds and notes payable

$

48,253,000

$

48,738,000

Earned income and market price adjustments

$

3,432,000

TOTAL LIABILITIES

$

49,608,000

$

50,124,000

Scholarships granted

$

(1,400,000)

NET INCREASE

$

3,138,000

Permanent endowment*

$

19,022,000

Interest in charitable trust

$

349,000

Quasi- (board designated-) endowment*

$

10,099,000

Legacy Fund endowment*

$

17,178,000

Split interest agreements/cash

$

997,000

TOTAL MARKET VALUE

$

47,645,000

In June, I was honored to present Kurt and Brenda Warner with the 2023 Divine Servant Award during a celebration at Discovery World in downtown Milwaukee. More than 400 guests joined together to raise over $850,000 in support of student scholarships at WLC.

Unrestricted

$

30,292,000

$

31,734,000

Temporarily restricted

$

34,596,000

$

32,714,000

Permanently restricted

$

9,334,000

$

9,009,000

TOTAL NET ASSETS

$

74,222,000

$

73,457,000

$

123,830,000

$

123,581,000

TOTAL LIABILITIES AND NET ASSETS

Balance June 30, 2023 INVESTMENTS

REVENUE AND EXPENSES – audited (rounded to 000s)

As we thank our gracious God for all that He has done for WLC since 1973, we also turn our eyes to the future. The college recently launched two new majors (fermentation science and digital marketing), along with a master’s program in sport and recreation management. We’re in the midst of a comprehensive campaign designed to help WLC serve a growing student body while updating campus facilities and technology.

OPERATING REVENUE for the fiscal year ended June 30, 2023

And even as we address the changing demographics in our country and the ensuing enrollment challenges many colleges will face, WLC holds steadfast in its commitment to providing a high-quality, Christian higher-education experience.

OPERATING REVENUE

OPERATING EXPENSES for the fiscal year ended June 30, 2023

Gross tuition and fees

$

32,248,000

Institutional scholarships

$

17,766,000

Room and board

$

8,245,000

Salaries

$

11,665,000

Unrestricted contributions

$

5,528,000

Benefits

$

4,499,000

Restricted contributions

$

3,071,000

Supplies and expenses

$

6,642,000

Endowment earnings

$

1,643,000

Contract services

$

5,462,000

Other income

$

1,237,000

Utilities

$

2,091,000

$

51,972,000

Depreciation

$

3,166,000

Interest

$

1,990,000

OPERATING EXPENSES

$

53,281,000

2% 3%

6% 11%

4%

Operating revenue 62%

$

$

NET ASSETS

We thank you for your support over the past five decades.

Without you, we couldn’t have fulfilled our mission of preparing thousands of students for lives of Christian leadership.

Permanent endowment*

Accounts payable and other liabilities

In April, WLC and the Center for Christian Leadership hosted platinum-selling recording artist and 10-time Grammy Award nominee Tauren Wells and his “The Joy in the Morning Tour” for a sold-out show in our Time of Grace Center.

In Christ’s service with you,

June 30, 2022

16% Total expenses

$ 51,972,000

33%

6% 4% 10%

$ (53,281,000)

Non-operating investment change

$

2,074,000

TOTAL CHANGE IN NET ASSETS

$

765,000

*includes realized and unrealized gains and earned income In 2022-2023, the overall return on the market value of the endowment before scholarship awards was an increase of 7.3%.

ENDOWMENT MARKET VALUE AND STUDENT ENROLLMENT $50,000,000

1,500

$40,000,000

1,200

$30,000,000

900

$20,000,000

600

$10,000,000

300 Endowment Market Value

13%

Dr. Daniel W. Johnson, President Wisconsin Lutheran College

$0

22%

8%

ENROLLMENT

C. Peter Aisbet (Chair) Slinger, Wisconsin Steven Boettcher Hartland, Wisconsin Matthew Burow West Bend, Wisconsin Rev. James Buske Milwaukee, Wisconsin Gary Drska Muskego, Wisconsin Bruce Eberle Vienna, Virginia Rev. Jonathan Enter South St. Paul, Minnesota Patricia Freer Fremont, Wisconsin Stephen Granberg Appleton, Wisconsin Dr. Terry Gueldner Manitowoc, Wisconsin Charles Kluenker Roseville, California Rev. Carlos Leyrer Doral, Florida Dr. R. Bowen Loftin Bryan, Texas Jamie Luehring Cedarburg, Wisconsin Rev. Jeremy Mattek Willis, Texas Dr. David Miller Abrams, Wisconsin Dawn Myers Naples, Florida Rev. Jared Oldenburg Castle Rock, Colorado John Pahmeier ’92 Mequon, Wisconsin Greg Patterson ’12 Milwaukee, Wisconsin Tom Plath Germantown, Tennessee Kent Raabe Pewaukee, Wisconsin Dr. William Raasch Wauwatosa, Wisconsin Jim Reinert Parkville, Missouri Rev. Aaron Robinson New Ulm, Minnesota Paul Scriver Kansasville, Wisconsin Dr. Zach Shiels ’09 Waukesha, Wisconsin Chellee Siewert Big Bend, Wisconsin C. Daniel Stefferud Redondo Beach, California Dr. Gary Stimac Houston, Texas Lawrence Totsky Menomonee Falls, Wisconsin Debra Waller Kenosha, Wisconsin Dr. Ronald White Fort Myers, Florida Dr. Rhoda Wolle St. Francis, Wisconsin Mark Wrightsman Venice, Florida

ENDOWMENT – audited (rounded to 000s)

STATEMENT OF FINANCIAL POSITION – audited (rounded to 000s)

MARKET VALUE

As we reflect on the 2022-2023 academic year, we’re grateful for the tremendous blessings that our loving God has showered upon Wisconsin Lutheran College over the past 50 years.

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Student Enrollment

Wisconsin Lutheran College students who are awarded donor-funded scholarships annually thank their scholarship donors. Below you’ll find information about three such students, including excerpts from their thank-you notes. Gifts to scholarships make a big impact in the lives of WLC students. We thank all those who generously donate to student scholarships each year.

ELIJAH STRUTZ ’25

Verona, Wisconsin Finance Major

Despite a challenging course load and participating in both cross country and track and field for the Warriors, our unchanging, loving God has been there for me every step of the way. The scholarship I receive has a big impact on me, and I’m incredibly thankful to receive it.

The award not only helps me today, but also sets me up for my future after college. I have loved WLC more and more as I spend time in class with peers and professors, with great friends, and with teammates.

I am majoring in finance with an accounting minor to prepare me for a job as a financial analyst. Over the summer I completed an internship with Northwestern Mutual as a financial representative. I am grateful for my education at WLC and for your generous support.

TREVION GREEN ’24

Miami, Florida Sports Management Major

I am writing to pass along my heartfelt gratitude for the tremendous support that my scholarship has provided me with. As I prepare to graduate next May, I cannot help but reflect on the incredible journey that brought me to this point. Your generosity has played a pivotal role in my academic and personal development, and I want to express how deeply thankful I am for the opportunities that my scholarship has given me. As a first-generation college student, my journey through higher education has been marked with challenges and uncertainties.

Your support has not only relieved my financial burden, but has also instilled in me a sense of confidence and determination to succeed. I am proud to say that I have not only excelled academically but have also been able to fulfill my passion for playing football throughout my time at WLC.

TRICIA BIDINGER ’25

Cascade, Wisconsin Nursing Major

Thank you so much for your generous gift. Working a full-time job during the summer doesn’t come close to covering the cost of college for me. Without your generosity, it would be much harder to attend Wisconsin Lutheran College.

With support from you I am able to pay more attention to my studies.

God has always provided for me and I know He is using you to do that. WLC has helped me find ways to spend time with Jesus, and I’ve made good Christian friends who help me keep God at the center of my life. I’m part of the Christian Leadership Certificate Program, and I am the Student Organizational Council president on Student Senate. I also volunteer and help organize many activities on campus. Outside of class I love to be outside, go hiking, and dabble in art when I have the time.

2022-2023

UNDERGRADUATE FAST FACTS Average class size: 18 Student/faculty ratio: 12:1

Wisconsin Lutheran College is a nationally ranked, independent Christian college in Milwaukee that serves nearly 1,100 undergraduate and graduate students through its on-campus and online programming.

The college, which prepares students for lives of Christian leadership, is recognized for its academic excellence and superior student experience.

99% of full-time students receive financial assistance 97% of students are between the ages of 18 and 22 Percent of resident undergraduate students: 70% Student demographics: 32 states and 4 foreign countries Grade point average is 3.52 for incoming freshmen Ministry, outreach, and service opportunities Co-curricular activities: member of NCAA Division III and Northern Athletics Collegiate Conference with 20 varsity sports; intramural sports; choir, chamber choir, concert band, music ensembles, and theatre productions; 35+ clubs and organizations

THE MISSION OF WISCONSIN LUTHERAN COLLEGE Wisconsin Lutheran College, affiliated with the Wisconsin Evangelical Lutheran Synod, is a Lutheran liberal arts college for Christian men and women. The college is committed to providing quality teaching, scholarship, and service that are rooted in Holy Scripture; promoting the spiritual growth of students, faculty, and staff; and preparing students for lives of Christian leadership.

Annual Report 2022-2023