Financial Stewardship and Enrollment

President's Report
This article is part of the complete 2026 President's Report.

IWU is celebrating another productive financial year that reflects both stability and careful stewardship. Since FY2023, revenue from various sources has grown 31%, while the university’s endowment has increased nearly 30%. With strong in-person and online enrollment numbers, strong investment performance, and wise financial management, IWU continues to build on a position of financial strength.

“We are grateful for this year’s stable financial results. A healthy balance sheet and positive operating results strengthen the university’s ability to serve its mission well. The incremental gains enable new scholarships, new professors and programs, and the education of additional students in character, scholarship, and leadership.”

Jeff Frayis
Chief Financial Officer

These results are a blessing and a testament to IWU’s mission of serving students with excellence and continuing to prepare Christ-centered leaders for the world. IWU is also positioned to make stronger strategic investments in scholarships, faculty, programs, and other priorities that will continue to fuel the university’s growth and innovation during unprecedented times in higher education.

$677,155,682
Total Net Assets as of June 30, 2026
$11,572,790
In Scholarships and Other Programs Funded From IWU’s Endowment

3 Signs of a Healthy University

1.   Revenue From Various Sources

$61.78M
Increase in Revenue
Since FY2023
31%
Increase
Since FY2023
FY2023 FY2024 FY2025 FY2026
$197.67M $216.40M $257.41M $259.45M

2.   Revenue Exceeded Expenses Each Year By:

FY2026 Revenue
Exceeded Expenses By
$51.48M
82%
Higher Than FY2023
FY2023 FY2024 FY2025 FY2026
$28.26M $34.25M $70.30M $51.48M

3.   The Investment Performance of the Endowment Is a Key Driver of Scholarships and Other Student Funding

$77.72M
Increase in Endowment
Since 2023
Endowment Value
Has Increased
29.6%
Since 2023
FY2023 FY2024 FY2025 FY2026
$262.77M $288.63M $309.91M $340.49M
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2026 President's Report