2025-04-25T15:06:17-05:00 2024-06-30 135565207 KPMG LLP 8350 BROAD ST STE 900 MCLEAN VA 22102 990 2023-07-01 540505977 WASHINGTON AND LEE UNIVERSITY WASH 5404588400 204 W WASHINGTON STREET LEXINGTON VA 24450 STEVEN G MCALLISTER VP FOR FIN AND TREAS 5404588400 2025-04-11 1 0 RAYMOND LY P01205643 7032868000 2023 2025-03-06 01:10:19Z WILLIAM C DUDLEY 204 W WASHINGTON STREET LEXINGTON VA 24450 642341125 0 X WWW.WLU.EDU X 1749 VA SEE SCHEDULE OWASHINGTON AND LEE UNIVERSITY PROVIDES A LIBERAL ARTS EDUCATION TO APPROXIMATELY 1,900 UNDERGRADUATE STUDENTS & OFFERS JD & LLM STUDIES TO APPROXIMATELY 400 LAW STUDENTS EACH YEAR. 27 26 2833 1800 5280155 4801318 64715034 63381460 160267418 169776574 51601498 51603567 25919 21701 276609869 284783302 64982065 73433850 0 0 124860528 129821364 123769 319579 6457724 86873954 93421667 276840316 296996460 -230447 -12213158 2535613259 2606326104 323771682 315531798 2211841577 2290794306 X SEE SCHEDULE OMISSION STATEMENT OF WASHINGTON AND LEE UNIVERSITY: WASHINGTON AND LEE UNIVERSITY PROVIDES A LIBERAL ARTS EDUCATION THAT DEVELOPS STUDENTS' CAPACITY TO THINK FREELY, CRITICALLY, AND HUMANELY AND TO CONDUCT THEMSELVES WITH HONOR, INTEGRITY, AND CIVILITY. GRADUATES WILL BE PREPARED FOR LIFE-LONG LEARNING, PERSONAL ACHIEVEMENT, RESPONSIBLE LEADERSHIP, SERVICE TO OTHERS, AND ENGAGED CITIZENSHIP IN A GLOBAL AND DIVERSE SOCIETY. 0 0 209025794 73433850 169776574 UNIVERSITY PROVIDING A LIBERAL ARTS EDUCATION - SEE SCHEDULE O. 209025794 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 1 3520 0 1 2833 1 1 1 0 0 0 0 1 1 0 0 0 0 0 1 X 27 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X IRMA J BAILEY 5404588400 204 W WASHINGTON STREET LEXINGTON VA 24450 WANGDALI C BACDAYAN RECTOR 6.00 X 0 0 0 JAMES L BALDWIN TRUSTEE 4.00 X 0 0 0 DANA J BOLDEN TRUSTEE 4.00 X 0 0 0 SCOTT B BOYD TRUSTEE 4.00 X 0 0 0 JOHN P CASE III TRUSTEE 4.00 X 0 0 0 CYNTHIA T CHEATHAM TRUSTEE 4.00 X 0 0 0 CHRISTOPHER C DYSON TRUSTEE 4.00 X 0 0 0 KELLY B GOLUB TRUSTEE 4.00 X 0 0 0 CINDY D HAUSER TRUSTEE 4.00 X 0 0 0 CLIFFORD K HOLEKAMP TRUSTEE 4.00 X 0 0 0 LEE M HOLLIS TRUSTEE 4.00 X 0 0 0 GEORGE D JOHNSON III TRUSTEE 4.00 X 0 0 0 L JAMES LAWSON III TRUSTEE 4.00 X 0 0 0 DAVID A LEHMAN TRUSTEE 4.00 X 0 0 0 MICHAEL R MCALEVEY RECTOR 6.00 X 0 0 0 SAMANTHA MCLEMORE TRUSTEE 4.00 X 0 0 0 ELIZABETH B PAKENAS TRUSTEE 4.00 X 0 0 0 WILLIAM G PAYNE TRUSTEE 4.00 X 0 0 0 CHARLES H PRIOLEAU TRUSTEE 4.00 X 0 0 0 LAURIE A RACHFORD TRUSTEE 4.00 X 0 0 0 BRODIE GREGORY RIORDAN TRUSTEE 4.00 X 0 0 0 JOHN W ROBINSON III TRUSTEE 4.00 X 0 0 0 HELEN H SANDERS TRUSTEE 4.00 X 0 0 0 JACKSON R SHARMAN III TRUSTEE 4.00 X 0 0 0 JAMES R SMALL TRUSTEE 4.00 X 0 0 0 MICHAEL H SPENCER TRUSTEE 4.00 X 0 0 0 TODD L SUTHERLAND TRUSTEE 4.00 X 0 0 0 LIZANNE THOMAS TRUSTEE 4.00 X 0 0 0 WILLIAM M TOLES TRUSTEE 4.00 X 0 0 0 NATHAN K URQUHART TRUSTEE 4.00 X 0 0 0 CHRISTOPHER H WILLIAMS TRUSTEE 4.00 X 0 0 0 JONATHAN M WORTHAM TRUSTEE 4.00 X 0 0 0 WILLIAM C DUDLEY PRESIDENT AND TRUSTEE 40.00 X X 632313 0 105208 STEVEN G MCALLISTER TREASURER 40.00 X 387321 0 52362 JESSICA L WILLETT SECRETARY 40.00 X 241027 0 72308 LENA HILL PROVOST 40.00 X 348439 0 74459 THOMAS JENNINGS VICE PRESIDENT 40.00 X 431344 0 53784 MELANIE WILSON DEAN 40.00 X 380377 0 50830 CHAWNE KIMBER DEAN 40.00 X 263174 0 34573 ROBERT D STRAUGHAN DEAN 40.00 X 302277 0 50040 BRIAN C MURCHISON PROFESSOR 40.00 X 313875 0 49353 MARIA FEELEY CHIEF LEGAL OFFICER AND GENERAL COUNSEL 40.00 X 302382 0 51493 MARK DRUMBL PROFESSOR 40.00 X 292087 0 29886 ELIZABETH OLIVER PROFESSOR 40.00 X 277682 0 36431 SCOTT HOOVER PROFESSOR 40.00 X 275288 0 44190 4447586 0 704917 261 1 1 0 KJELLSTROM & LEE INC 1607 OWNBY LANE RICHMOND VA 23220 CONSTRUCTION 25882602 MAKENA CAPITAL LP 2755 SAND HILL ROAD MENLO PARK CA 94025 INVESTMENT MGMT 6586479 WORKDAY INC 6110 STONERIDGE MALL ROAD PLEASANTON CA 94588 SOFTWARE DEVELOPMENT 1207818 E4H - ENVIRONMENTS FOR HEALTH LLC DEPT 6529 PO BOX 11407 BIRMINGHAM AL 35246 CONSTRUCTION 848304 HOLIDAY TOURS 10367 RANDLEMAN ROAD RANDLEMAN NC 27317 TRANSPORTATION 569654 68 3476538 59904922 9096959 63381460 TUITION AND FEES 611710 138459748 138459748 AUXILIARY SERVICES 611710 30339856 30030100 309756 OTHER MISCELLANEOUS INCOME 611710 976970 976970 169776574 649803 649803 21701 21701 408511587 357557823 50953764 50953764 4970399 45983365 284783302 169466818 5280155 46654869 825296 825296 62948926 62948926 9659628 9659628 5442669 2446307 2247574 748788 91353805 61460379 27233486 2659940 7567627 5230873 1945882 390872 18832923 12462967 5358862 1011094 6624340 4361325 1941297 321718 689473 479513 209960 288801 200855 87946 319579 319579 6618074 4602720 2015354 7497710 3954998 3496166 46546 162138 80335 81283 520 3314313 1909661 1369510 35142 3473477 2008754 1443444 21279 9524904 3148811 6334353 41740 6255290 4765724 1043540 446026 4862896 2996018 1672295 194583 8193822 3339722 4854100 21403910 12339891 9064019 1507815 160527 1346788 500 COST OF SALES FOR AUX. 7447036 7447036 DUES AND SUBSCRIPTIONS 3597258 2436253 1142620 18385 POSTAGE AND PRINTING 1336694 387962 755845 192887 7248056 6818349 421582 8125 296996460 209025794 81512942 6457724 10204 6665 12761582 5361571 57527813 67209563 5027362 5838054 328813 204356 48916797 50666999 1233537 1199477 5736129 5489851 688998362 333749790 338425521 355248572 231089351 253745568 1757449367 1804830452 4481910 4528730 72624873 51996246 2535613259 2606326104 15338104 14552342 836792 836858 169924640 163492705 64574134 64346779 73098012 72303114 323771682 315531798 X 407178326 400450361 1804663251 1890343945 2211841577 2290794306 2535613259 2606326104 -12213158 91165887 0 X X 0 1 X 1 1 1 X 49258971 37949672 42496973 64715034 63381460 257802110 49258971 37949672 42496973 64715034 63381460 257802110 103776908 154025202 655372 759999 927694 621041 671504 3635610 18745 3425655 3444400 264882120 761528671 0.58150 0.52700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 176426 176426 0 PART II-B, LINE 1: THE ORGANIZATION PAYS MEMBERSHIP DUES TO MEMBER EDUCATIONAL ORGANIZATIONS INCLUDING NACUBO (NATIONAL ASSOCIATION OF COLLEGES AND UNIVERSITY BUSINESS OFFICERS), NAICU (NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES), CICV (COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA), AND ASC (ASSOCIATED COLLEGES OF THE SOUTH) THAT MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO DE MINIMIS LOBBYING ACTIVITIES. SCHEDULE C, PART II-B, LINE 11: THE ORGANIZATION PAYS MEMBERSHIP DUES TO MEMBER EDUCATIONAL ORGANIZATIONS INCLUDING NACUBO (NATIONAL ASSOCIATION OF COLLEGES AND UNIVERSITY BUSINESS OFFICERS), NAICU (NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES), CICV (COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA), AND ASC (ASSOCIATED COLLEGES OF THE SOUTH) THAT MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO DE MINIMIS LOBBYING ACTIVITIES. X X 1 69.00 1 0 5500 5675906 X X X X X TEACHING 0 1342150240 27181170 72562297 38412474 28738685 1656006 1373086542 1361442911 23638529 23259175 35800988 28026976 2362411 1342150240 1504053213 15483193 -99369432 30955313 26354121 1414629 1361442911 1150749702 18096758 392372476 30080863 26116953 967907 1504053213 1142350304 30029504 33655213 29416051 23470757 2398511 1150749702 0.21000 0.45000 0.34000 1 0 6123664 6123664 520989557 242434673 278554884 25543993 14287119 11256874 89770548 67111297 22659251 46570600 9916701 36653899 355248572 LIMITED PARTNERSHIP INTERESTS 1134691194 F FUNDS HELD IN TRUST BY OTHERS 670139258 F 1804830452 SPLIT INTEREST AGREEMENT OBLIGATIONS 30650268 OPERATING LEASE LIABILITIES 20126343 POST RETIREMENT BENEFIT OBLIGATION 19289212 STUDENT AND OTHER DEPOSITS 1428068 OTHER OBLIGATIONS 710164 US GOVERNMENT GRANTS REFUNDABLE 99059 72303114 X 296754156 91165887 -72608554 18557333 278196823 6586479 6586479 284783302 217801427 -72608554 -72608554 290409981 6586479 6586479 296996460 PART II, LINE 9: THE SINGLE CONSERVATION EASEMENT HELD BY THE UNIVERSITY WAS ACQUIRED THROUGH THE PURCHASE OF PROPERTY ADJACENT TO THE UNIVERSITY IN DECEMBER 2010. THE PROPERTY IS HELD AS LAND ON THE BOOKS OF THE UNIVERSITY AND THUS NOT DEPRECIATED. NO REVENUE IS EARNED FROM THE PROPERTY. MAINTENANCE COSTS ARE INCURRED AS NORMAL OPERATING EXPENSES OF THE UNIVERSITY. PART III, LINE 4: THE ORGANIZATION'S EXEMPT PURPOSE: THE MUSEUMS AT WASHINGTON AND LEE UNIVERSITY (WLU), INCLUDE THE INSTITUATIONAL HISTORY MUSEUMS, THE REEVES MUSEUM OF CERAMICS, AND THE WATSON GALLERIES, SUPPORTS THE UNIVERSITY AS AN INTERDISCIPLINARY TEACHING RESOURCE THROUGH THE PRESERVATION, STUDY, INTERPRETATION, AND EXHIBITION OF ITS COLLECTIONS. THE MUSEUMS ALSO ADVANCE LEARNING THROUGH DIRECT ENGAGEMENT WITH COLLECTIONS; FACILITATE AN INTERDISCIPLINARY APPRECIATION OF ART, HISTORY, AND CULTURE; AND INSPIRE LEADERSHIP IN THE MUSEUM FIELDS. THE MUSEUMS AT WLU ARE COMPOSED OF THREE AREAS THAT ARE ADMINISTERED COLLECTIVELY BY THE PROVOST AND THE DIRECTORS OF THE MUSEUMS: THE UNIVERSITY CHAPEL WAS BUILT IN 1868; IN 1883 AN ANNEX WAS ADDED TO THE BUILDING TO HOUSE VALENTINE'S STATUE OF ROBERT E. LEE AND THE LEE FAMILY CRYPT. A FEW DECADES LATER, A FOUNDATIONAL BEQUEST OF ART WAS DONATED BY VINCENT BRADFORD AND STILL LATER A COLLECTION OF WASHINGTON-CUSTIS-LEE PORTRAITS WERE ADDED TO THE GALLERIES. A MUSEUM WAS ADDDED IN 1928 IN THE LOWER LEVEL OF THE ORIGINAL COLLEGE CHAPEL. THE CHAPEL ALSO CONTAINS FURNISHINGS AND CONTENTS OF LEE'S OFFICE AS PRESIDENT (1868-1870), AS WELL AS A MODEST COLLECTION OF HISTORICAL OBJECTS RELATED TO THE HISTORY OF WASHINGTON AND LEE UNIVERSITY. IN 1961, THE CHAPEL WAS DESIGNATED A NATIONAL HISTORIC LANDMARK. AND IN 2021 THE BUILDING WAS RENAMED "UNIVERSITY CHAPEL & GALLERIES." THE INSTITUTIONAL HISTORY MUSEUM IS ALSO CURRENTLY RESPONSIBLE FOR A SMALL GARLLERY ON THE LIFE OF GEORGE WASHINGTON LOCATED IN WASHINGTON HALL. THE REEVES MUSEUM OF CERAMICS SHOWCASES A COLLECTION OF EUROPEAN, ASIAN, AND AMERICAN CERAMICS THAT TELL STORIES OF HISTORY, DESIGN, TECHNOLOGY, TRADE, PATRIOTISM, AND PROTEST. THE COLLECTION IS ON DISPLAY IN THE REEVES AND IN THE ADJOINING WATSON GALLERIES, AND IT IS USED IN A VARIETY OF UNIVERSITY CLASSES, INCLUDING ART HISTORY, CHEMISTRY, AND POLITICS. ALSO LOCATED IN THE REEVES IS THE ELISABETH S. GOTTWALD GALLERY, CURRENTLY HIGHLIGHTING THE WORK OF LOUISE HERRESHOFF REEVES, AN EARLY-20TH CENTURY AMERICAN PAINTER NOTED FOR HER IMPRESSIONIST AND FAUVIST WORKS. THE WLU ART COLLECTION BEGAN WITH A BEQUEST OF SIX PORTRAITS IN 1874 AND HAS GROWN TO INCLUDE AN ECLECTIC COLLECTION OF ABOUT 7500 WORKS OF FINE AND DECORATIVE ARTS FROM AROUND THE GLOBE, INCLUDING THE AMERICAS, EUROPE, AND EAST ASIA. PAINTINGS, PRINTS AND SCULPTURE ARE ON DISPLAY IN ACADEMIC SPACES THROUGHOUT CAMPUS AND ARE USED AS TEACHING TOOLS BY VARIOUS ACADEMIC DEPARTMENTS. PART V, LINE 4: ENDOWMENT IS A TERM USED COMMONLY TO REFER TO THE RESOURCES THAT HAVE BEEN RESTRICTED BY THE DONOR OR DESIGNATED BY THE BOARD OF TRUSTEES THAT WILL BE INVESTED TO PROVIDE FUTURE REVENUE TO SUPPORT THE UNIVERSITY'S ACTIVITIES. BECAUSE TUITION AND FEES REVENUE DOES NOT COVER THE ENTIRE COST OF EDUCATION FOR A STUDENT, ENDOWMENT FUNDS SUPPLEMENT THE COST OF FACULTY SALARIES AND EDUCATIONAL PROGRAMS. THE ENDOWMENT AND CURRENT CONTRIBUTIONS SUPPORT SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS. THE UNIVERSITY ENDOWMENT ALSO PROVIDES FUNDS FOR THE FOLLOWING AREAS > LIBRARY MAINTENANCE AND ACQUISITIONS > FACULTY AND STUDENT RESEARCH > PROGRAM COSTS FOR AREAS SUCH AS - ENVIRONMENTAL STUDIES PROGRAM - THE SHEPHERD POVERTY PROGRAM -STUDY ABROAD PROGRAMS > ATHLETIC PROGRAMS > BUILDINGS AND GROUNDS MAINTENANCE AND IMPROVEMENTS PART X, LINE 2: FIN 48 FOOTNOTE FROM AUDITED FINANCIAL STATEMENTS: THE WASHINGTON AND LEE UNIVERSITY HAS BEEN CLASSIFIED AS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THUS EXEMPT FROM FEDERAL INCOME TAXES ON ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY DOES NOT BELIEVE THAT THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR COSTS THAT SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES -72,608,554. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES -72,608,554. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE SUPPLEMENTAL PAGE SCHEDULE E, PART I, Q3: ALL POLICIES, INCLUDING THE UNIVERSITY'S NONDISCRIMINATION / EEO STATEMENT ARE POSTED TO THE UNIVERSITY WEBSITE. ALL PROSPECTIVE STUDENTS RECEIVE SOLICITATION MATERIALS THAT OUTLINE THE UNIVERSITY'S NONDISCRIMINATION POLICIES, INCLUDING BUT NOT LIMITED TO DISCRIMINATION ON THE BASIS OF RACE. ANNUALLY, THE UNIVERSITY BROADCASTS THE NONDISCRIMINATION POLICY AND REINFORCES SUPPORT FOR THE UNIVERSITY COMMUNITY TO FOLLOW POLICY. THERE IS ALSO ONGOING CAMPUS-WIDE ORIENTATION AND TRAINING OCCURS ON WHERE ONE CAN FIND POLICIES AND RESOURCES. SCHEDULE E, PART I, Q6: THE UNIVERSITY ADMINISTERS FEDERAL LOANS AND GRANTS TO STUDENTS THROUGH DEPARTMENT OF EDUCATION PROGRAMS SUCH AS PELL AND PERKINS. DURING THE TAX YEAR ENDED JUNE 30, 2024, THE UNIVERSITY HOLDS FEDERAL GRANTS WITH DEPARTMENTS SUCH AS NATIONAL SCIENCE FOUNDATION AND THE DEPARTMENT OF THE INTERIOR. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 197222 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 1526528 EUROPE 0 0 GRANTMAKING 1035245 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 949649 NORTH AMERICA 0 0 GRANTMAKING 479629 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 916962 SOUTH AMERICA 0 0 GRANTMAKING 568510 SOUTH ASIA 0 0 GRANTMAKING 2125628 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 1860255 EUROPE 0 0 PROGRAMS STUDY ABROAD 968322 EAST ASIA AND THE PACIFIC 0 0 PROGRAMS STUDY ABROAD 176998 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAMS STUDY ABROAD 52110 SOUTH ASIA 0 0 PROGRAMS STUDY ABROAD 100935 0 0 0 0 0 0 7799373 3158620 10957993 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 3 197222 STUDENT ACCOUNT CREDIT SCHOLARSHIP EAST ASIA AND THE PACIFIC 26 1526528 STUDENT ACCOUNT CREDIT SCHOLARSHIP EUROPE 13 1035245 STUDENT ACCOUNT CREDIT SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 10 949649 STUDENT ACCOUNT CREDIT SCHOLARSHIP NORTH AMERICA 5 479629 STUDENT ACCOUNT CREDIT SCHOLARSHIP RUSSIA AND THE NEIGHBORING STATES 11 916962 STUDENT ACCOUNT CREDIT SCHOLARSHIP SOUTH AMERICA 7 568510 STUDENT ACCOUNT CREDIT SCHOLARSHIP SOUTH ASIA 25 2125628 STUDENT ACCOUNT CREDIT SCHOLARSHIP SUB-SAHARAN AFRICA 20 1860255 STUDENT ACCOUNT CREDIT 1 0 1 1 1 0 SCHEDULE F - SUPPLEMENTAL INFO: THE UNIVERSITY ISSUES GRANTS AND OTHER FINANCIAL ASSISTANCE TO STUDENTS, WHICH ALLOWS STUDENTS TO FURTHER THEIR EDUCATION. GRANTED FUNDS ARE CREDITED TO THE STUDENT'S UNIVERSITY BILLING ACCOUNT AND APPLIED TO TUITION, FEES, AND OTHER COSTS OF EDUCATION. IN FISCAL YEAR 2023-2024 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1,454 STUDENTS. 120 OF THOSE STUDENTS WERE CITIZENS OF OTHER COUNTRIES AS REPORTED IN SCHEDULE F. X X X X 1 LANDESBERG DESIGN 64 SOUTH 14TH STREET SUITE 200 PITTSBURGH PA 15203 BRANDING AND COMMUNICATIONS 0 0 142811 -142811 LIBRETTO INC 554 RUTLAND SQ BOSTON MA 02118 BRANDING AND COMMUNICATIONS 0 0 30000 -30000 WASHBURN & MCGOLDRICK LLC 24 N BRYN MAWR AVENUE 252 BRYN MAWR PA 19010 GENERAL CAMPAIGN CONSULTING 0 0 18000 -18000 TRIBE LTD 310 MAIN STREET CHATHAM NJ 07928 CAMPAIGN VIDEO PRODUCTION 0 0 128668 -128668 319479 -319479 1 ROCKBRIDGE AREA RELIEF ASSOCIATION 350 SPOTSWOOD DRIVE LEXINGTON VA 24450 237303807 501(C)(3) 5120 0 PROGRAM SERVICE BRIDGE TO HOPE FOOD PANTRY 906 MAGNOLIA AVENUE BUENA VISTA VA 24416 851347394 501(C)(3) 5500 0 PROGRAM SERVICE ROCKBRIDGE NAACP 221 ALUM SPRINGS ROAD LEXINGTON VA 24450 831521954 501(C)(4) 10000 0 PROGRAM SERVICE OMICRON DELTA KAPPA SOCIETY INC 224 MCLAUGHLIN STREET LEXINGTON VA 24450 611216165 501(C)(3) 10000 0 PROGRAM SERVICE ROCKBRIDGE AREA FREE CLINIC 25 NORTHRIDGE LANE LEXINGTON VA 24450 541642220 501(C)(3) 25000 0 PROGRAM SERVICE NDPONICS PO BOX 1475 LEXINGTON VA 24450 472531760 501(C)(3) 64508 0 PROGRAM SERVICE CITY OF LEXINGTON VA 300 E WASHINGTON ST LEXINGTON VA 24450 546001392 GOV'T 647068 0 PAYMENT IN LIEU OF TAXES/PROGRAM SERVICE 6 1 STUDENT FINANCIAL AID 1334 62948926 BOOK SCHEDULE I - SUPPLEMENTAL INFO: THE UNIVERSITY ISSUES GRANTS AND OTHER FINANCIAL ASSISTANCE TO STUDENTS, WHICH ALLOWS STUDENTS TO FURTHER THEIR EDUCATION. GRANTED FUNDS ARE CREDITED TO THE STUDENT'S UNIVERSITY BILLING ACCOUNT AND APPLIED TO TUITION, FEES, AND OTHER COSTS OF EDUCATION. IN FISCAL YEAR 2023-2024 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1,454 STUDENTS. 120 OF THOSE STUDENTS WERE CITIZENS OF OTHER COUNTRIES AS REPORTED IN SCHEDULE F. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 WILLIAM C DUDLEY PRESIDENT AND TRUSTEE 632313 0 0 0 0 0 33000 0 72208 0 737521 0 0 0 THOMAS JENNINGS VICE PRESIDENT 431344 0 0 0 0 0 33000 0 20784 0 485128 0 0 0 STEVEN G MCALLISTER TREASURER 387321 0 0 0 0 0 33000 0 19362 0 439683 0 0 0 MELANIE WILSON DEAN 380377 0 0 0 0 0 33000 0 17830 0 431207 0 0 0 LENA HILL PROVOST 348439 0 0 0 0 0 33000 0 41459 0 422898 0 0 0 BRIAN C MURCHISON PROFESSOR 313875 0 0 0 0 0 31438 0 17915 0 363228 0 0 0 MARIA FEELEY CHIEF LEGAL OFFICER AND GENERAL COUN 302382 0 0 0 0 0 31225 0 20268 0 353875 0 0 0 ROBERT D STRAUGHAN DEAN 302277 0 0 0 0 0 30828 0 19212 0 352317 0 0 0 MARK DRUMBL PROFESSOR 292087 0 0 0 0 0 29003 0 883 0 321973 0 0 0 SCOTT HOOVER PROFESSOR 275288 0 0 0 0 0 24108 0 20082 0 319478 0 0 0 ELIZABETH OLIVER PROFESSOR 277682 0 0 0 0 0 27932 0 8499 0 314113 0 0 0 JESSICA L WILLETT SECRETARY 241027 0 0 0 0 0 24750 0 47558 0 313335 0 0 0 CHAWNE KIMBER DEAN 263174 0 0 0 0 0 26523 0 8050 0 297747 0 0 0 SCHEDULE J, PART I, LINE 1A: THE PRESIDENT RESIDES IN ON-CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE VALUE OF THIS ON-CAMPUS HOUSING IS $50,605 FOR TWELVE MONTHS AND IS INCLUDED AS A NON-TAXABLE BENEFIT ABOVE IN PART II, COLUMN D. THE RESIDENCE IS USED FOR UNIVERSITY-RELATED BUSINESS AND ENTERTAINMENT PURPOSES ON A REASONABLE AND CONTINUAL BASIS. THE UNIVERSITY ALSO PAYS CLUB DUES OF $300 PER MONTH FOR THE PRESIDENT. THE CLUB MEMBERSHIP IS USED PREDOMINANTLY FOR UNIVERSITY BUSINESS. THE ABOVE BENEFITS WERE TREATED AS TAXABLE INCOME WHEN APPROPRIATE. SCHEDULE J, PART I, LINE 4B: THE UNIVERSITY PRESIDENT PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN SPONSORED BY THE UNIVERSITY. FOR THE CALENDAR YEAR 2023, $126,875 WAS CONTRIBUTED TO THIS PLAN AND IS INCLUDED ABOVE IN PART II, COLUMN B IN THE CALENDAR YEAR WHEN VESTING OCCURS. A VIRGINIA COLLEGE BUILDING AUTHORITY 541249154 9277817B4 2015-04-22 36897502 BUILD DORMS, CAP PROJECTS, REFUNDING 2006 1 0 0 B INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON VIRGINIA 546001392 52976TBG1 2018-08-07 36076396 CAPITAL PROJECTS, REFUNDING 2010 0 0 0 C INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON VIRGINIA 546001392 000000000 2018-08-07 15110000 REFUNDING 2015B 0 0 0 D VIRGINIA COLLEGE BUILDING AUTHORITY 541249154 000000000 2023-06-15 52700000 EDUCATIONAL FACILITIES CAPITAL PROJECT 0 0 0 A 6550000 24520000 30459673 6437829 308692 30234883 2017 0 0 1 1 B 2250000 22356396 13720000 338078 22018319 2019 0 0 1 1 C 105685 15004315 105685 2018 0 0 1 1 D 54845718 2145718 242514 26344935 26112551 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 1 0 1 1 0 NA 0 0 0 NA 0 0 1 B 0 1 0 1 1 0 NA 0 0 0 NA 0 0 1 C 0 1 0 1 1 0 NA 0 0 0 NA 0 0 1 D 0 1 0 0 0 0 NA 0 0 0 NA 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: VIRGINIA COLLEGE BUILDING AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/24/2017 ISSUER NAME: INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON, VIR DATE THE REBATE COMPUTATION WAS PERFORMED: 09/11/2020 ISSUER NAME: INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON, VIR DATE THE REBATE COMPUTATION WAS PERFORMED: 11/07/2019 PART VI: THE REBATE COMPUTATION WAS LAST PERFORMED ON NOVEMBER 7, 2019 AND SEPTEMBER 11, 2020 FOR THE INDUSTRIAL DEVELOPMENT AUTHORITY-LEXINGTON CITY BONDS. THE REBATE COMPUTATION WAS LAST PERFORMED ON MAY 24, 2017 FOR VIRGINIA COLLEGE BUILDING AUTHORITY BOND. JESSICA WILLETT EMPLOYEE HOME MORTGAGE X 347239 204536 0 0 1 204536 PART II - LOANS TO AND/OR FROM INTERESTED PERSONS: WASHINGTON AND LEE PROVIDES HOUSING LOANS TO FULL-TIME EMPLOYEES. SUCH LOANS MAY BE USED TO PURCHASE, BUILD, OR IMPROVE A PRINCIPAL RESIDENCE IN THE LEXINGTON ROCKBRIDGE COUNTY AREA. INTEREST RATES ON LOANS ARE 25 PERCENT LESS THAN THE INTEREST RATE CHARGED BY LOCAL FINANCIAL INSTITUTIONS FOR RESIDENTIAL MORTGAGE LOANS. IMPUTED INTEREST INCOME RELATED TO A UNIVERSITY-PROVIDED HOUSING LOAN IS INCLUDED IN EMPLOYEE W-2S, AS APPLICABLE, EACH YEAR.AS OF JUNE 30, 2023, THE UNIVERSITY HAD 264 EMPLOYEES WITH HOME LOANS OUTSTANDING. THE LOAN PROGRAM IS APPROVED BY THE BOARD OF TRUSTEES AND REVIEWED AS PART OF THE INVESTMENT PORTFOLIO OF THE UNIVERSITY BY THE INVESTMENT COMMITTEE. X 1 5500 APPRAISAL X 139 9091459 SELLING PRICE 4 0 1 0 SCHEDULE M, PART I, COLUMN (B): THIS COLUMN REPRESENTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. FORM 990, PART III, LINE 4A, DESCRIPTION OF PROGRAM SERVICE: PROGRAM SERVICE ACCOMPLISHMENTS FOUNDED IN 1749, WASHINGTON AND LEE UNIVERSITY IS NAMED IN RECOGNITION OF THE PIVOTAL ROLES OF GEORGE WASHINGTON, WHOSE GENEROUS ENDOWMENT OF $20,000 IN 1796 HELPED THE FLEDGLING SCHOOL (THEN KNOWN AS LIBERTY HALL ACADEMY) SURVIVE, AND ROBERT E. LEE, WHOSE PRESIDENCY AND INNOVATIVE LEADERSHIP BROUGHT THE UNIVERSITY INTO THE NATIONAL LIMELIGHT. WASHINGTON AND LEE IS A SMALL, PRIVATE, LIBERAL ARTS UNIVERSITY NESTLED BETWEEN THE BLUE RIDGE AND ALLEGHENY MOUNTAINS IN LEXINGTON, VA. IT IS THE NINTH OLDEST INSTITUTION OF HIGHER LEARNING IN THE NATION. WASHINGTON AND LEE IS COMPOSED OF TWO UNDERGRADUATE DIVISIONS, THE COLLEGE AND THE WILLIAMS SCHOOL OF COMMERCE, ECONOMICS, AND POLITICS; AND A GRADUATE SCHOOL OF LAW. THE MUDD CENTER FOR ETHICS IS A RESOURCE FOR STUDENTS AND FACULTY AT ALL THREE SCHOOLS. THE SCHOOL OF LAW IS HOME TO THE CENTER FOR LAW AND HISTORY, THE FRANCIS LEWIS LAW CENTER AND THE TRANSNATIONAL LAW INSTITUTE. FORM 990, PART VI, SECTION A, LINE 2 TO BE PROVIDED FORM 990, PART VI, SECTION B, LINE 11B 990 REVIEW THE 990 IS PREPARED BY THE UNIVERSITY BUSINESS OFFICE AND REVIEWED BY MANAGEMENT. AN OUTSIDE ACCOUNTING AND TAX FIRM COMPILES THE 990 FORMS AND PROVIDES ADDITIONAL CLARIFICATION. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990, AFTER WHICH A COPY IS DISTRIBUTED THROUGH A CONFIDENTIAL WEB PORTAL TO THE ENTIRE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE CONFLICT OF INTEREST AND TRANSACTIONS WITH INTERESTED PERSONS POLICY IMPOSES A CONTINUING OBLIGATION TO DISCLOSE POTENTIAL CONFLICTS TO THE OFFICE OF GENERAL COUNSEL OF THE UNIVERSITY. THE CONTROLLER WILL ADVISE THE CHAIR OF THE TRUSTEESHIP COMMITTEE (FOR TRUSTEE AND INTERESTED PERSON DISCLOSURES) AND CHAIR OF THE AUDIT COMMITTEE (FOR EMPLOYEE DISCLOSURES) REGARDING ANY POTENTIAL CONFLICTS OF INTEREST AMONG THESE PERSONS. THE TRUSTEESHIP COMMITTEE FOR TRUSTEES AND INTERESTED PERSONS AND THE AUDIT COMMITTEE FOR EMPLOYEES, HAVE THE AUTHORITY TO OVERSEE AND DECIDE WHETHER AN INDIVIDUAL COVERED UNDER THE POLICY SHOULD DISCLOSE HIS OR HER INTEREST TO THE BOARD AND RECUSE HIM OR HERSELF IN MATTERS WHERE A POTENTIAL CONFLICT MAY EXIST. THEY ALSO DECIDE WHETHER ANY DISCLOSED POTENTIAL CONFLICTS RISE TO THE LEVEL OF EXCESS BENEFIT TRANSACTIONS OR UNMANAGEABLE CONFLICTS. THE GENERAL COUNSEL WILL MAKE A PERMANENT RECORD OF DISCLOSED POTENTIAL CONFLICTS, WHICH IS AVAILABLE TO ANY TRUSTEE OR OTHER PERSONS AUTHORIZED BY THE CHAIR OF THE TRUSTEESHIP COMMITTEE AND AUDIT COMMITTEE. THE POLICY DEFINES THE MEANS TO DISCLOSE, RESOLVE AND MANAGE REAL, APPARENT OR POTENTIAL CONFLICTS. A CONFLICT OF INTEREST POLICY IS IN PLACE FOR ALL OTHER EMPLOYEES AND FINANCIAL AND FINANCIAL AID PERSONNEL REVIEW THEIR RESPECTIVE CODES OF CONDUCT/ETHICS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE COMPENSATION THE POLICY ON GUIDELINES FOR REVIEWING EXECUTIVE COMPENSATION OUTLINES THE PROCESS TO BE FOLLOWED. THE BOARD OF TRUSTEES, OR ITS EXECUTIVE COMMITTEE, IS CHARGED WITH THOROUGHLY REVIEWING THE PRESIDENT'S COMPENSATION, AS WELL AS ASSESSING AND APPROVING THE REASONABLENESS OF THE COMPENSATION. THE REVIEW OF PRESIDENTIAL COMPENSATION INCLUDES EVALUATION OF MARKET DATA AND COMPARISON TO PEER SCHOOLS. THE FULL BOARD OF TRUSTEES APPROVES COMPENSATION FOR THE PRESIDENT. THE BOARD ALSO CONDUCTS A THOROUGH REVIEW OF THE PRESIDENT'S PERFORMANCE FROM THE PRIOR YEAR AT THIS TIME. THE UNIVERSITY GENERAL COUNSEL RECORDS MINUTES OF THE MEETINGS REGARDING THE PRESIDENT'S COMPENSATION, AND RETAINS COPIES OF THE PERFORMANCE REVIEWS. FOR OTHER EXECUTIVES AND OFFICERS, THE PRESIDENT AND EXECUTIVE DIRECTOR OF HUMAN RESOURCES REVIEW FINANCIAL BUDGETS, EMPLOYEE PERFORMANCE, AND BENCHMARK DATA FOR SIMILAR POSITIONS AT PEER SCHOOLS TO DETERMINE REASONABLENESS OF COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS THE UNIVERSITY MAKES ITS GOVERNANCE DOCUMENTS, SUCH AS THE CHARTER AND BYLAWS, AVAILABLE ON THE UNIVERSITY WEBSITE UNDER THE OFFICE OF GENERAL COUNSEL, POLICIES AND LEGAL NOTICES, BOARD POLICIES AND STATEMENTS. THE CONFLICT OF INTEREST POLICIES, STATEMENT OF ETHICAL PRINCIPLES, CODES OF CONDUCT/ETHICS ARE ALSO POSTED AT THE SAME WEBSITE ADDRESS. FINANCIAL STATEMENTS ARE SUMMARIZED ON THE OFFICE OF THE TREASURER WEB PAGE. COPIES OF AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE UNIVERSITY TREASURER. THE UNIVERSITY WEBSITE IS WWW.WLU.EDU FORM 990, PART XII - FINANCIAL STATEMENTS AND REPORTING: THE FINANCIAL STATEMENTS OF THE UNIVERSITY ARE REPORTED ON A SEPARATE BASIS, AS NO OTHER AFFILIATES EXIST. CHARITABLE REMAINDER TRUSTS (38) C/O BNY MELLON NA PO BOX 185 PITTSBURGH PA 15230 CRUT VA W&L UNIVERSITY T 1 CHARITABLE LEAD TRUSTS (2) C/O BNY MELLON NA PO BOX 186 PITTSBURGH PA 15230 CLAT VA W&L UNIVERSITY T 1 POOLED INCOME FUND C/O BNY MELLON NA PO BOX 187 PITTSBURGH PA 15230 546123755 CRAT VA W&L UNIVERSITY T 1 ANNUITIES (4) C/O BNY MELLON NA PO BOX 188 PITTSBURGH PA 15230 546291330 CRAT VA W&L UNIVERSITY T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FORM 990 PART IV, LINE (1), COLUMN (C): LEGAL DOMICILE OF TRUST THE CHARITABLE REMAINDER TRUSTS ARE LEGALLY DOMICILED IN DC, FL, GA, KY, MA, MD, MO, NC, NH, NJ, OH, PA, SC, TN, TX, VA, VT, WY.