2021-05-12T18:11:40-05:00 2020-06-30 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2019-07-01 540505977 WASHINGTON AND LEE UNIVERSITY % CELIA A KOVAC WASH 5404588400 204 W WASHINGTON STREET LEXINGTON VA 24450 STEVEN G MCALLISTER VP FOR FIN AND TREASURE 5404588400 2021-04-30 true Raymond Ly P01205643 7032868000 2021-04-29 2019 2022-09-23 18:48:47Z WILLIAM C DUDLEY 204 W WASHINGTON STREET LEXINGTON VA 24450 591808366 false X www.wlu.edu X 1749 VA WASHINGTON AND LEE PROVIDES A LIBERAL ART COLLEGE EDUCATION TO APPROXIMATELY 1,800 UNDERGRADUATE STUDENTS & OFFERS JD & LLM STUDIES TO APPROXIMATELY 400 LAW STUDENTS EACH YEAR. 30 29 2590 1800 -3035313 17745 28847238 49258971 137585778 135611159 116698175 1299732 27449 29591 283158640 186199453 54484704 57225613 0 0 107040126 110051017 0 0 5511233 73695680 73887472 235220510 241164102 47938130 -54964649 2161435497 2101751936 278695277 275115322 1882740220 1826636614 X SEE SCHEDULE O. false false 172382381 57225613 135611159 PROVIDING A LIBERAL ARTS COLLEGE EDUCATION - SEE SCHEDULE O. 172382381 true true false true false false true true false true true true false false true true true false true false true false true false false false false true true true true false false false false false true false false false false true true false false false true false false false true 3516 0 true 2590 true true true true CJ false false false false false false false false false true X 30 29 true false false false false false false true true false false true true true true true true true false false VA X CELIA A KOVAC 5404588400 204 W WASHINGTON STREET LEXINGTON VA 244502116 X WILLIAM C DUDLEY PRESIDENT AND TRUSTEE 40.0 0.0 X X 643135 0 104993 DENNIS W CROSS Vice President 40.0 0.0 X 390379 0 46335 BRANT J HELLWIG DEAN 40.0 0.0 X 371403 0 46335 STEVEN G MCALLISTER TREASURER 40.0 0.0 X 349133 0 50618 MARC C CONNER PROVOST 40.0 0.0 X 295916 0 66273 ROBERT D STRAUGHAN DEAN 40.0 0.0 X 270094 0 76607 NORA DEMLEITNER LAW PROFESSOR 40.0 0.0 X 293662 0 46008 JAMES E MOLITERNO LAW PROFESSOR 40.0 0.0 X 289818 0 43080 BRIAN C MURCHISON LAW PROFESSOR 40.0 0.0 X 280748 0 42594 SCOTT HOOVER PROFESSOR 40.0 0.0 X 252374 0 55491 MARK A DRUMBL LAW PROFESSOR 40.0 0.0 X 267684 0 27557 JAMES D FARRAR JR SECRETARY 40.0 0.0 X 189733 0 34395 J DONALD CHILDRESS RECTOR (UNTIL 05/2020) 6.0 0.0 X 0 0 0 WANGDALI C BACDAYAN TRUSTEE 4.0 0.0 X 0 0 0 JAMES L BALDWIN TRUSTEE 4.0 0.0 X 0 0 0 DANA J BOLDEN TRUSTEE 4.0 0.0 X 0 0 0 SCOTT B BOYD TRUSTEE 4.0 0.0 X 0 0 0 JOHN P CASE III TRUSTEE 4.0 0.0 X 0 0 0 MARY C CHOKSI TRUSTEE 4.0 0.0 X 0 0 0 J LAWRENCE CONNOLLY TRUSTEE 4.0 0.0 X 0 0 0 ROGERS L CRAIN TRUSTEE 4.0 0.0 X 0 0 0 BLAIR H DAVIS TRUSTEE(UNTIL 05/2020) 4.0 0.0 X 0 0 0 JAMES E DUNN JR TRUSTEE 4.0 0.0 X 0 0 0 CHRISTOPHER C DYSON TRUSTEE 4.0 0.0 X 0 0 0 CLIFFORD K HOLEKAMP TRUSTEE 4.0 0.0 X 0 0 0 CLAY T JACKSON TRUSTEE (UNTIL 05/2020) 4.0 0.0 X 0 0 0 GEORGE D JOHNSON III TRUSTEE 4.0 0.0 X 0 0 0 DAVID A LEHMAN TRUSTEE 4.0 0.0 X 0 0 0 JOSEPH W LUTER IV TRUSTEE 4.0 0.0 X 0 0 0 MICHAEL R MCALEVEY TRUSTEE 4.0 0.0 X 0 0 0 B CRAIG OWENS TRUSTEE 4.0 0.0 X 0 0 0 WILLIAM B PAYNE TRUSTEE 4.0 0.0 X 0 0 0 LAURIE A RACHFORD TRUSTEE 4.0 0.0 X 0 0 0 BRODIE GREGORY RIORDAN TRUSTEE 4.0 0.0 X 0 0 0 JOHN W ROBINSON III TRUSTEE 4.0 0.0 X 0 0 0 ELLEN F ROGOWSKI TRUSTEE 4.0 0.0 X 0 0 0 HELEN H SANDERS TRUSTEE 4.0 0.0 X 0 0 0 JAMES R SMALL TRUSTEE 4.0 0.0 X 0 0 0 TODD L SUTHERLAND TRUSTEE 4.0 0.0 X 0 0 0 ROWAN GP TAYLOR TRUSTEE 4.0 0.0 X 0 0 0 LIZANNE THOMAS TRUSTEE 4.0 0.0 X 0 0 0 WILLIAM M TOLES TRUSTEE 4.0 0.0 X 0 0 0 ANDREA K WAHLQUIST TRUSTEE 4.0 0.0 X 0 0 0 CHRISTOPHER H WILLIAMS TRUSTEE 4.0 0.0 X 0 0 0 3894079 0 640286 250 false true false THE WHITING-TURNER CONTRACTING CO 3000 E JOPPA ROAD BALTIMORE MD 21286 CONSTRUCTION 19799466 MAKENA CAPITAL LP 2755 SAND HILL ROAD SUITE 200 MENLO PARK CA 94025 INVESTMENT MGMT 5861485 KJELLSTROM AND LEE INC 1607 OWNBY LANE RICHMOND VA 23220 CONSTRUCTION 2018069 GUNNER CONSTRUCTION 323 OLD FARM ROAD LEXINGTON VA 24450 CONSTRUCTION 1405293 WORKDAY INC 6110 STONERIDGE MALL ROAD PLEASANTON CA 94588 SOFTWARE DVLPMT 800315 37 2121638 47137333 18777889 49258971 TUITION AND FEES 611710 116257477 116257477 AUXILIARY SERVICES 611710 19050598 18452423 598175 OTHER MISC INCOME 611710 303084 269607 33477 135611159 625781 625781 0 29591 29591 0 0 0 406282864 405608913 673951 673951 -3666965 4340916 0 0 0 0 0 0 0 0 0 0 186199453 134979507 -3035313 4996288 681610 681610 52806315 52806315 3737688 3737688 0 4622481 1644180 2535585 442716 0 76113915 53619969 19198116 3295830 6579843 4667688 1609280 302875 17191567 11081532 5536900 573135 5543211 3783201 1511044 248966 320668 218375 102293 195472 133116 62356 371971 253312 118659 0 0 6429317 4378365 2050952 2410179 1587985 768847 53347 95717 27316 68010 391 2706338 1801159 889679 15500 4702122 2709757 1964238 28127 0 6532501 2197071 4309529 25901 3281339 2334900 695900 250539 0 2863803 1908830 873412 81561 7800316 3972382 3827934 0 18771258 11066884 7704374 1112373 148581 963792 COST OF SALES FOR AUXILIARY 4592008 607 4591401 DUES AND SUBSCRIPTIONS 2540682 1820593 705931 14158 POSTAGE AND PRINTING 1399643 342530 882665 174448 ALL OTHER EXPENSES 7761765 5458435 2299591 3739 241164102 172382381 63270488 5511233 18577 45484 18456610 9900665 41656795 38690489 3083815 5986353 558677 497092 0 0 56074133 56357789 1615537 1651814 4669375 4261444 597884319 250483671 333637853 347400648 187943784 191844692 1492895488 1439030410 14875061 5993875 0 0 5949792 91181 2161435497 2101751936 17633402 17834547 0 0 1554658 1407186 203765983 163678265 0 0 0 0 0 0 0 37383651 55741234 54811673 278695277 275115322 X 374212370 370067837 1508527850 1456568777 1882740220 1826636614 2161435497 2101751936 -54964649 -1138957 X false true X true true true X 19777347 32919342 36167038 28847238 49258971 166969936 0 0 19777347 32919342 36167038 28847238 49258971 166969936 76640823 90329113 755380 600755 326178 864021 655372 3201706 2146560 0 4171323 74001 18745 6410629 0 176582271 0.51154 0.57670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 170333 170333 false 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 false 32530 5029510 X X X X X Teaching false 1142350304 30029504 33655213 29416051 23470757 2398511 1150749702 1129016644 16640954 49843425 27682735 24181390 1286594 1142350304 1069842192 15238678 94504129 25901000 23865791 801564 1129016644 995373361 15514799 108933011 25603498 23275461 1110020 1069832192 1047786882 17644572 -21433971 24998305 22964842 650975 995383361 0.23000 0.46000 0.31000 true false 6123664 6123664 480721414 190178076 290543338 23059171 9823777 13235394 62802802 42638251 20164551 25177268 7843567 17333701 347400648 LIMITED PARTNERSHIP INTERESTS 959617603 F FUNDS HELD IN TRUST BY OTHERS 479412807 F 1439030410 0 SPLIT INTEREST AGREEMENT OBLIG 29333889 POSTRETIREMENT BENEFIT OBLIGAT 23211802 CAPITAL LEASE OBLIGATIONS 774174 U.S. GOVERNMENT GRANTS REFUNDA 730769 ASSET RETIREMENT OBLIGATIONS 456914 STUDENT AND OTHER DEPOSITS 304125 54811673 X 122655009 -1138956 -1138956 123793965 5861485 56544003 62405488 186199453 178758614 178758614 5861485 56544003 62405488 241164102 SCHEDULE D, PART II, QUESTION 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. SCHEDULE D, PART III, QUESTION 4 THE MUSEUMS AT WASHINGTON AND LEE UNIVERSITY (WLU), WHICH REPORTS TO THE DIRECTOR OF INSTITUTIONAL HISTORY, 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, STIMULATE APPRECIATION OF GLOBAL CULTURES, AND INSPIRE LEADERSHIP IN THE ARTS AND SCIENCES. THE MUSEUMS AT WLU IS COMPOSED OF THREE AREAS THAT ARE ADMINISTERED COLLECTIVELY BY THE DIRECTOR: THE LEE CHAPEL & MUSEUM WAS CREATED IN 1928 IN THE LOWER LEVEL OF THE ORIGINAL COLLEGE CHAPEL, WHICH WAS DESIGNATED A NATIONAL HISTORIC LANDMARK IN 1961. THE LEE CHAPEL COLLECTION WAS GIVEN AND BEQUEATHED TO WASHINGTON AND LEE UNIVERSITY BY LEE FAMILY AND FRIENDS, MUCH OF WHICH WAS ACQUIRED BETWEEN 1897 AND 1928. IT INCLUDES THE WASHINGTON-CUSTIS-LEE COLLECTION OF EARLY AMERICAN PORTRAITS, AS WELL AS HISTORICAL OBJECTS (PERSONAL ARTIFACTS, MILITARY EQUIPMENT, MATERIAL CULTURE, AND FURNISHINGS) RELATED TO THESE IMPORTANT VIRGINIA FAMILIES, AND ESPECIALLY TO GEORGE WASHINGTON, BENEFACTOR OF WASHINGTON ACADEMY, AND ROBERT E. LEE. THE CHAPEL ALSO CONTAINS FURNISHINGS AND CONTENTS OF LEE'S OFFICE AS PRESIDENT (1868-1870), AS WELL AS A SMALL COLLECTION OF HISTORICAL OBJECTS RELATED TO THE HISTORY OF WASHINGTON AND LEE UNIVERSITY. THE REEVES MUSEUM OF CERAMICS SHOWCASES ONE OF THE COUNTRYS LARGEST AND FINEST COLLECTIONS OF CERAMICS. HUNDREDS OF PIECES OF ASIAN, EUROPEAN, AND AMERICAN CERAMICS SPANNING SOME 4,000 YEARS TELL STORIES OF DESIGN, TECHNOLOGY, AND TRADE AND ILLUSTRATE HOW PEOPLE DRANK, DINED AND DECORATED THEIR HOMES OVER THE PAST FIVE CENTURIES. THE COLLECTION IS ON DISPLAY IN THE REEVES AND IN THE ADJOINING WATSON GALLERIES AND IS USED IN A WIDE RANGE OF UNIVERSITY CLASSES INCLUDING ART HISTORY, CHEMISTRY, AND POLITICS. ALSO LOCATED IN THE REEVES IS THE ELISABETH S. GOTTWALD GALLERY, WHICH HIGHLIGHTS THE WORK OF LOUISE HERRESHOFF REEVES (1876-1967), 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. SCHEDULE D, PART V, Q4 DESCRIBE THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUND: 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 RESEARCH > PROGRAM COSTS FOR AREAS SUCH AS - ENVIRONMENTAL STUDIES PROGRAM - THE SHEPHERD POVERTY PROGRAM > ATHLETIC PROGRAMS > BUILDINGS AND GROUNDS MAINTENANCE AND IMPROVEMENTS SCHEDULE D, PART X, 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 CONSOLIDATED FINANCIAL STATEMENTS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. SCHEDULE D, PART XI, Line 4A Investment Management Fees $5,861,485 SCHEDULE D, PART XI, Line 4B Financial Aid Expenses $56,544,003 SCHEDULE D, PART XII, Line 4A Investment Management Fees $5,861,485 SCHEDULE D, PART XII, Line 4B Financial Aid Expenses $56,544,003 true true true true true true true false false false false false false false false true false true 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 LOAN AND GRANTS TO STUDENTS THROUGH PROGRAMS SUCH AS PELL AND PERKINS. DURING THE TAX YEAR ENDED JUNE 30, 2020, THE UNIVERSITY HOLDS FEDERAL GRANTS WITH DEPARTMENTS SUCH AS NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES, AND THE NATIONAL ENDOWMENT FOR THE HUMANITIES. true Central America and the Caribbean Grantmaking 111537 East Asia and the Pacific Grantmaking 766184 Europe (Including Iceland and Greenland) Grantmaking 499824 Middle East and North Africa Grantmaking 345112 North America Grantmaking 80000 Russia and the Newly Independent States Grantmaking 291809 South America Grantmaking 60013 South Asia Grantmaking 741338 Sub-Saharan Africa Grantmaking 841871 Middle East and North Africa Program Services study abroad 886 East Asia and the Pacific Program Services study abroad 90382 Europe (Including Iceland and Greenland) Program Services study abroad 37580 Sub-Saharan Africa Program Services study abroad 9424 South Asia Program Services study abroad 1180 Central America and the Caribbean Investments 187587 4064727 4064727 SCHOLARSHIP Central America and the Caribbean 2 111537 Stdnt Acc Cr SCHOLARSHIP East Asia and the Pacific 18 766184 Stdnt Acc Cr SCHOLARSHIP Europe (Including Iceland and Greenland) 7 499824 Stdnt Acc Cr SCHOLARSHIP Middle East and North Africa 5 345112 Stdnt Acc Cr SCHOLARSHIP North America 2 80000 Stdnt Acc Cr SCHOLARSHIP Russia and the Newly Independent States 4 291809 Stdnt Acc Cr SCHOLARSHIP South America 2 60013 Stdnt Acc Cr SCHOLARSHIP South Asia 11 741338 Stdnt Acc Cr SCHOLARSHIP Sub-Saharan Africa 12 841871 Stdnt Acc Cr true false true true true false 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 2019-2020 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1,395 STUDENTS. 63 OF THOSE STUDENTS WERE CITIZENS OF OTHER COUNTRIES AS REPORTED IN SCHEDULE F. true Rockbridge Area Relief Association PO Box 640 LEXINGTON VA 24450 237303807 501(C)(3) 5045 Program Service Rockbridge Area Transportation 712 N Main Street LEXINGTON VA 24450 043586915 501(C)(3) 7500 PROGRAM SERVICE Kendal at Lexington 160 Kendal Drive LEXINGTON VA 24450 541795871 501(C)(3) 20000 PROGRAM SERVICE Lexington Golf and Country Club 141 Country Club Road LEXINGTON VA 24450 541193752 501(C)(7) 40000 PROGRAM SERVICE CITY OF LEXINGTON VA 300E WASHINGTON ST LEXINGTON VA 24450 546001392 567397 PMT IN LIEU OF TAXES 4 1 STUDENT FINANCIAL AID 1332 52806315 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 2019-2020 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1,332 STUDENTS. X X true true X X X false true false false false false false false false WILLIAM C DUDLEY PRESIDENT AND TRUSTEE 643135 0 0 0 0 0 28000 0 76993 0 748128 0 0 0 JAMES D FARRAR JR SECRETARY 189733 0 0 0 0 0 19300 0 15095 0 224128 0 0 0 STEVEN G MCALLISTER TREASURER 349133 0 0 0 0 0 28000 0 22618 0 399751 0 0 0 MARC C CONNER PROVOST 295916 0 0 0 0 0 28000 0 38273 0 362189 0 0 0 DENNIS W CROSS Vice President 390379 0 0 0 0 0 28000 0 18335 0 436714 0 0 0 NORA DEMLEITNER LAW PROFESSOR 293662 0 0 0 0 0 29073 0 16935 0 339670 0 0 0 MARK A DRUMBL LAW PROFESSOR 267684 0 0 0 0 0 26656 0 901 0 295241 0 0 0 BRANT J HELLWIG DEAN 371403 0 0 0 0 0 28000 0 18335 0 417738 0 0 0 SCOTT HOOVER PROFESSOR 252374 0 0 0 0 0 25770 0 29721 0 307865 0 0 0 JAMES E MOLITERNO LAW PROFESSOR 289818 0 0 0 0 0 28000 0 15080 0 332898 0 0 0 BRIAN C MURCHISON LAW PROFESSOR 280748 0 0 0 0 0 28000 0 14594 0 323342 0 0 0 ROBERT D STRAUGHAN DEAN 270094 0 0 0 0 0 27634 0 48973 0 346701 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 $46,070 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 LESS THAN $250 PER MONTH FOR THE PRESIDENT AND FOR THE VICE PRESIDENT OF ADVANCEMENT AND COMMUNICATIONS. THE CLUB MEMBERSHIPS ARE 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 2019, $54,782 WAS CONTRIBUTED TO THIS PLAN AND IS INCLUDED ABOVE IN PART II, COLUMN C. A Virginia College Building Authority 541249154 9277817B4 2015-04-22 36897502 Build dorms, Cap projects, Refundi false false false B Industrial Development Authority - Lexington City 546001392 52976TBG1 2018-08-07 36076396 Capital projects, Refunding 2010 false false false C Industrial Development Authority - Lexington City 546001392 000000000 2018-08-07 15110000 Refunding 2015B false false false A 0 0 30459673 0 0 6437829 308692 0 0 30234883 0 0 2017 false false true true B 0 0 22356396 0 0 13720000 338078 0 0 22018319 0 0 2019 false false true true C 0 0 105685 0 0 15004315 105685 0 0 0 0 0 2018 false false true true A false false false false false 0 false false false true B false false false false false 0 false false false true C false false false false false 0 false false false true A false true false true true false 0 false 0 false true B false true false true true false 0 false 0 false true C false true false true true false 0 false 0 false true A true B true C true SCHEDULE K, PART IV, LINE 2C 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. JAMES D FARRAR JR Employee Home Mortgage X 240000 137862 false false true BRANT J HELLWIG Employee Home Mortgage X 450000 359230 false false true 497092 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 6/30/20, THE UNIVERSITY HAD 285 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 2 32530 APPRAISAL X 192 17745359 SELLING PRICE X 1 395000 APPRAISAL X Other - Equestrian horses 4 605000 APPRAISAL 6 false true false FORM 990, PART III MISSION 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. Form 990, PART III, LINE 4A PROGRAM SERVICE ACCOMPLISHMENTS FOUNDED IN 1749, WASHINGTON AND LEE UNIVERSITY IS NAMED FOR TWO OF THE MOST INFLUENTIAL MEN IN AMERICAN HISTORY: 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. PART VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, QUESTION 2 FAMILY OR BUSINESS RELATIONSHIPS A TRUSTEE HAS DISCLOSED THAT SHE IS A DIRECTOR OF A CAR RENTAL COMPANY. WASHINGTON AND LEE UNIVERSITY DOES HAVE A CONTRACTUAL BUSINESS RELATIONSHIP WITH THIS CAR RENTAL COMPANY. HOWEVER, EMPLOYEES MAY RENT FROM THIS COMPANY AT THEIR TRAVEL DESTINATIONS IF THE ARRANGEMENT IS THE MOST ECONOMICAL AVAILABLE BUT THERE IS NO REQUIREMENT. A TRUSTEE HAS DISCLOSED THAT SHE IS GENERAL COUNSEL AND EXECUTIVE VICE PRESIDENT AT THE CORPORATE OFFICES OF ONE OF THE LOCAL LEXINGTON BANKS. THE UNIVERSITY HAS A RELATIONSHIP WITH THIS BANK THROUGH THE SERIES 2003 BONDS. HOWEVER, THE TRUSTEE WAS NOT ON THE BOARD AT THE TIME THE SERIES 2003 BONDS WERE ISSUED. IN ADDITION, THE SERIES 2003 BONDS WERE PAID IN FULL DURING THE UNIVERSITY'S 2017-2018 FISCAL YEAR. IN 2019, THIS BANK MERGED WITH ANOTHER LOCAL BANK (BANK2) THAT THE UNIVERSITY USES AS ITS MAIN BANKING RELATIONSHIP. THE UNIVERSITY USE OF BANK2 WAS DONE THROUGH A COMPETITIVE RFP PROCESS. A TRUSTEE HAS DISCLOSED THAT HE WORKS FOR AN INSURANCE COMPANY WHICH IS A SUBSIDARY OF THE UNIVERSITY'S MAIN BANKING RELATIONSHIP. AT ONE TIME THE UNIVERSITY USED THE INSURANCE PORTION OF THIS COMPANY BUT IN 2010 THROUGH A COMPETITIVE RFP PROCESS, THE INSURANCE RELATIONSHIP WAS SEVERED AT THE NAMING OF A NEW INSURANCE BROKERAGE. THIS TRUSTEE LEFT THE EMPLOY OF THIS INSURANCE COMPANY IN EARLY 2018 FOR A COMPANY THAT HAD NO ASSOCIATION WITH THE UNIVERSITY AT THAT TIME. DUE TO A BANKING MERGER THE INSURANCE COMPANY IS AGAIN AFFILIATED WITH THE UNIVERSITYS BANK. Form 990, PART VI, QUESTION 11 990 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, QUESTION 12 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, QUESTION 15 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, QUESTION 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 (47) C/O BNY MELLON NA PO BOX 185 Pittsburgh PA 15230 CRUT VA W&L UNIVERSITY Trust true CHARITABLE LEAD TRUSTS (2) C/O BNY MELLON NA PO BOX 186 Pittsburgh PA 15230 CLAT VA W&L UNIVERSITY Trust true POOLED INCOME FUND C/O BNY MELLON NA PO BOX 187 Pittsburgh PA 152300185 546123755 CRAT VA W&L UNIVERSITY Trust true ANNUITIES (4) C/O BNY MELLON NA PO BOX 188 Pittsburgh PA 152300185 586291330 CRAT VA W&L UNIVERSITY Trust true false false false false false false false false false false false false false false false false false false false 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.