2018-02-15T11:26:39-06:00 2017-06-30 KPMG LLP 1676 International Drive Ste 1200 McLean VA 22102 990 2016-07-01 540505977 Washington and Lee University % DEBORAH Z CAYLOR WASH 5404588400 204 W Washington Street Lexington VA 24450 STEVEN G MCALLISTER VP FOR FIN AND TREAS 5404588400 2018-02-13 true RAYMOND LY P01205643 7032868000 2018-02-13 167.68.102.5 54028020180465000006 2018-02-15 P 642138A8EB9C11D639CBD1F487E1B8DC97AA26B7 338DF67F7D76F452896565F2BC00488146B8E0D7 2016 2021-01-29 14:40:06Z William C Dudley 204 W Washington Street Lexington VA 24450 665457844 false X www.wlu.edu X 1749 VA Washington and Lee provides a liberal arts college education to over 1,800 undergraduate students & offers JD & LLM studies to over 350 law students each year. 38 37 2532 1600 821777 -16216 19777347 32919342 118023107 124164928 70333802 221329236 39434 41375 208173690 378454881 42925312 44568390 0 0 95778800 97488688 0 0 5391871 63656641 68491348 202360753 210548426 5812937 167906455 1948547262 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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 4.0 0.0 X 0 0 0 JAMES E DUNN JR TRUSTEE 4.0 0.0 X 0 0 0 C CHRISTOPHER DYSON TRUSTEE 4.0 0.0 X 0 0 0 DWIGHT H EMANUELSON JR TRUSTEE 4.0 0.0 X 0 0 0 C DOUGLAS FUGE TRUSTEE 4.0 0.0 X 0 0 0 J BAKER GENTRY JR TRUSTEE 4.0 0.0 X 0 0 0 R ALLEN HAIGHT TRUSTEE 4.0 0.0 X 0 0 0 CLAY T JACKSON TRUSTEE 4.0 0.0 X 0 0 0 GEORGE D JOHNSON III TRUSTEE 4.0 0.0 X 0 0 0 SALLY P LAWRENCE 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 MARSHALL B MILLER JR TRUSTEE 4.0 0.0 X 0 0 0 B CRAIG OWENS TRUSTEE 4.0 0.0 X 0 0 0 WILLIAM E PRITCHARD III TRUSTEE 4.0 0.0 X 0 0 0 LAURIE A RACHFORD TRUSTEE 4.0 0.0 X 0 0 0 BENNETT L ROSS TRUSTEE 4.0 0.0 X 0 0 0 ROBERT E SADLER JR 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 THOMAS R WALL IV TRUSTEE 4.0 0.0 X 0 0 0 WILLIAM M WEBSTER IV TRUSTEE 4.0 0.0 X 0 0 0 CHRISTOPHER H WILLIAMS TRUSTEE 4.0 0.0 X 0 0 0 KENNETH P RUSCIO PRESIDENT&TRUSTEE(THRU Dec/16) 40.0 0.0 X X 550195 0 112156 WILLIAM C DUDLEY PRESIDENT AND TRUSTEE 40.0 0.0 X X 50000 0 0 JAMES D FARRAR JR SECRETARY 40.0 0.0 X 171541 0 31159 STEVEN G MCALLISTER TREASURER 40.0 0.0 X 301425 0 83213 DENNIS W CROSS VICE PRESIDENT 40.0 0.0 X 359730 0 86660 MARC C CONNER PROVOST 40.0 0.0 X 234196 0 80364 NORA VERENA DEMLEITNER LAW PROFESSOR 40.0 0.0 X 285796 0 50149 BRANT J HELLWIG DEAN 40.0 0.0 X 361624 0 28527 DAVID MILLON LAW PROFESSOR 40.0 0.0 X 309429 0 42012 JAMES E MOLITERNO LAW PROFESSOR 40.0 0.0 X 289180 0 40588 DANIEL A WUBAH SR ADVISOR TO PRESIDENT 40.0 0.0 X 279667 0 42400 3192783 0 597228 199 false true false Kjellstrom Lee Inc 1607 OWNBY LANE RICHMOND VA 23220 CONSTRUCTION 15529309 The Whiting-Turner Contracting Co 3000 E JOPPA ROAD BALTIMORE MD 21286 CONSTRUCTION 8963883 MAKENA CAPITAL LP 2755 SAND HILL ROAD MENLO PARK CA 94025 INVESTMENT MGMT 4847064 PARKHURST DINING SERVICES INC 285 E WATERFORD DRIVE HOMESTEAD PA 15120 MANAGEMENT SERVICES 3259940 TAYLOR PARRISH INC 710 PERRY ST RICHMOND VA 23224 CONSTRUCTION 1484892 26 1073806 31845536 5176051 32919342 TUITION AND FEES 611710 100913220 100396004 517216 AUXILIARY SERVICES 611710 22484565 22484565 OTHER MISCELLANEOUS INCOME 611710 767143 518119 249024 124164928 559380 559380 0 41375 41375 0 0 0 507772819 287002963 220769856 220769856 55537 220714319 0 0 0 0 0 0 0 0 0 0 378454881 123398688 821777 221315074 619919 619919 41217673 41217673 2730798 2730798 0 3814215 845176 2519195 449844 0 69885510 50588561 16300389 2996560 7477431 5483574 1693666 300191 11373515 7512115 3336902 524498 4938017 3514745 1193392 229880 1447258 884033 563225 16161 9632 6529 278304 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1676185061 1755211927 1948547262 2018935767 167906455 -88879589 X X false true X true true true X 55445299 40372780 64119681 19777347 32919342 212634449 0 0 55445299 40372780 64119681 19777347 32919342 212634449 101787437 110847012 1331387 1260730 1036258 755380 600755 4984510 1556620 1880764 2780802 2146560 2500000 10864746 0 228483705 0.48514 0.53841 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 299890 299890 false Schedule C, Part II-B, Line 1i 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) AND ASC (ASSOCIATED COLLEGES OF THE SOUTH) WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO DE MINIMUS LOBBYING ACTIVITIES. X X 1 69.00 1 false 127410 4382171 X X X X false false 995373361 15514799 108933011 25603498 23275461 1110020 1069832192 1047786882 17644572 -21433971 24998305 22964842 650975 995383361 1026155485 14587468 50862611 22693864 19732434 1392384 1047786882 915770122 20451320 131552378 22009313 18499015 1110007 1026155485 837376444 36616570 80728579 21051995 17065077 834399 915770122 0.23000 0.45000 0.32000 true false 6123664 6123664 439536929 156131248 283405681 19736899 6569570 13167329 62734268 42632761 20101506 7046014 5046297 1999717 324797897 LIMITED PARTNERSHIP INTERESTS 813714990 F FUNDS HELD IN TRUST BY OTHERS 477293318 F 1291008308 0 STUDENT AND OTHER DEPOSITS 770072 U.S. GOVERNMENT GRANTS REFUNDA 1366680 SPLIT INTEREST AGREEMENT OBLIG 32574559 POSTRETIREMENT BENEFIT OBLIGAT 19597915 ASSET RETIREMENT OBLIGATIONS 1004832 CAPITAL LEASE OBLIGATIONS 1247519 56561577 X 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 PROVIDE A DESCRIPTION OF THE ORGANIZATIONS COLLECTIONS AND EXPLAIN HOW THEY FURTHER THE ORGANIZATION'S EXEMPT PURPOSE: THE UNIVERSITY COLLECTIONS OF ART AND HISTORY (UCAH) AT WASHINGTON AND LEE UNIVERSITY, WHICH REPORTS TO THE VICE PRESIDENT FOR ADVANCEMENT, SUPPORTS THE UNIVERSITY AS AN INTERDISCIPLINARY TEACHING RESOURCE THROUGH THE PRESERVATION, STUDY, INTERPRETATION, AND EXHIBITION OF ITS COLLECTIONS. UCAH IS COMPOSED OF THREE AREAS THAT ARE ADMINISTERED COLLECTIVELY BY THE DIRECTOR OF UCAH: THE LEE CHAPEL & MUSEUM (LC&M) WAS CREATED IN 1928 IN THE LOWER LEVEL OF THE ORIGINAL COLLEGE CHAPEL, WHICH WAS DESIGNATED A NATIONAL HISTORIC LANDMARK IN 1963. THE LEE CHAPEL COLLECTION IS A UNIQUE AND NATIONALLY SIGNIFICANT LEGACY COLLECTION (FORMED EARLY, WITHOUT PLANNING) THAT 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, 11 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 CENTER WAS ESTABLISHED IN 1967 FROM A BEQUEST BY EUCHLIN AND LOUISE REEVES. THE REEVES CENTER CARES FOR, DISPLAYS AND INTERPRETS W&L'S CERAMIC COLLECTION. THE REEVES COLLECTION OF CERAMICS CONTAINS OVER 3,000 PIECES OF CERAMICS MADE IN ASIA, EUROPE, AND THE AMERICAS OVER FOUR MILLENNIA. THE COLLECTION HAS TWO AREAS OF SPECIAL STRENGTH: THE COLLECTION OF CHINESE EXPORT PORCELAIN MADE FOR THE EUROPEAN AND AMERICAN MARKET BETWEEN 1500 AND 1900, WHICH IS ESTIMATED TO BE THE FOURTH LARGEST IN THE NATION, AND THE COLLECTION OF BRITISH AND CONTINENTAL EUROPEAN EARTHENWARE, STONEWARE, AND PORCELAIN MADE BETWEEN 1600 AND 1900. THE REEVES ALSO MAINTAINS THE UNIVERSITY'S NON-CERAMIC ASIAN ART, AS WELL AS HOUSES THE GOTTWALD GALLEY, DISPLAYING THE PAINTINGS OF LOUISE HERRESHOFF. THE ART COLLECTION IS HOUSED THROUGHOUT THE UNIVERSITY CAMPUS. IT ORIGINATED IN 1874 WITH A GIFT OF FIVE IMPORTANT EARLY AMERICAN PORTRAITS FROM NEWTON MERCER AND EXPANDED GREATLY IN 1884 FROM A LARGE BEQUEST BY VINCENT BRADFORD. SINCE THAT TIME, THE ART COLLECTIONS INCLUDE A SIGNIFICANT COLLECTION OF WESTERN EUROPEAN AND AMERICAN PAINTINGS, WORKS ON PAPER, AND SCULPTURE, WITH PARTICULAR STRENGTH IN 19TH CENTURY AMERICAN LANDSCAPES AND 20TH CENTURY PRINTS. 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 - COMMUNITY LEGAL CLINIC - 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. THE INTERNAL REVENUE SERVICE HAS HELD THAT A VIRGINIA LIMITED LIABILITY COMPANY, TREATED AS A PARTNERSHIP FOR STATE INCOME TAX PURPOSES, WOULD ALSO BE TREATED AS A PARTNERSHIP FOR FEDERAL INCOME TAX PURPOSES. THEREFORE, INCOME TAXES ARE NOT PROVIDED WITH RESPECT TO THE OPERATIONS OF COLONNADE RESTORATION, LLC SINCE EACH MEMBER IS RESPONSIBLE FOR THE INCOME TAX CONSEQUENCES ASSOCIATED WITH ITS PROPORTIONATE SHARE OF SUCH OPERATIONS. 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 UNIVERSITYS NONDISCRIMINATION POLICIES, INCLUDING NON-RACIAL DISCRIMINATION. ANNUALLY, THE PRESIDENT OF 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, 2017, THE UNIVERSITY HOLDS FEDERAL GRANTS WITH DEPARTMENTS SUCH AS NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES, AND THE U.S. FISH AND WILDLIFE SERVICE. true Central America and the Caribbean Grantmaking 122494 East Asia and the Pacific Grantmaking 720713 Europe (Including Iceland and Greenland) Grantmaking 317758 Middle East and North Africa Grantmaking 248173 North America Grantmaking 176512 South America Grantmaking 177568 South Asia Grantmaking 466082 Sub-Saharan Africa Grantmaking 501498 Central America and the Caribbean Program Services study abroad 40037 East Asia and the Pacific Program Services study abroad 35101 Europe (Including Iceland and Greenland) Program Services study abroad 352187 South America Program Services study abroad 62792 South Asia Program Services study abroad 87377 Central America and the Caribbean Investment 7624520 10932812 10932812 SCHOLARSHIP Central America and the Caribbean 2 122494 SCHOLARSHIP SCHOLARSHIP East Asia and the Pacific 19 720713 SCHOLARSHIP SCHOLARSHIP Europe (Including Iceland and Greenland) 5 317758 SCHOLARSHIP SCHOLARSHIP Middle East and North Africa 4 248173 SCHOLARSHIP SCHOLARSHIP North America 6 176512 SCHOLARSHIP SCHOLARSHIP South America 4 177568 SCHOLARSHIP SCHOLARSHIP South Asia 8 466082 SCHOLARSHIP SCHOLARSHIP Sub-Saharan Africa 8 501498 SCHOLARSHIP 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 2016-2017 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1,249 STUDENTS. 58 OF THOSE STUDENTS WERE CITIZENS OF OTHER COUNTRIES AS REPORTED IN SCHEDULE F. true OMICRON DELTA KAPPA SOCIETY INC 224 MCLAUGHLIN ST LEXINGTON VA 24450 611216165 501(C)(3) 10000 book See Part IV PROGRAM SERVICES CITY OF LEXINGTON VA 300E WASHINGTON ST Lexington VA 24450 546001392 540743 book Program Services 1 1 STUDENT FINANCIAL AID 1249 41217673 BOOK SEE PART IV 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 THE FISCAL YEAR 2016-2017 THE UNIVERSITY PROVIDED DOMESTIC FINANCIAL AID TO SUPPORT 1249 STUDENTS X X X X true true X X X false true false false false false false false false KENNETH P RUSCIO PRESIDENT&TRUSTEE(THRU Dec/16) 440510 0 0 0 109685 0 26500 0 85656 0 662351 0 0 0 JAMES D FARRAR JR SECRETARY 171541 0 0 0 0 0 17492 0 13667 0 202700 0 0 0 STEVEN G MCALLISTER TREASURER 301425 0 0 0 0 0 26500 0 56713 0 384638 0 0 0 DENNIS W CROSS VICE PRESIDENT 359730 0 0 0 0 26500 0 60160 0 446390 0 0 0 MARC C CONNER PROVOST 234196 0 0 0 0 0 24000 0 56364 0 314560 0 0 0 NORA VERENA DEMLEITNER LAW PROFESSOR 285796 0 0 0 0 0 26500 0 23649 0 335945 0 0 0 BRANT J HELLWIG DEAN 361624 0 0 0 0 0 26500 0 2027 0 390151 0 0 0 DAVID MILLON LAW PROFESSOR 309429 0 0 0 0 0 26500 0 15512 0 351441 0 0 0 JAMES E MOLITERNO LAW PROFESSOR 289180 0 0 0 0 0 26500 0 14088 0 329768 0 0 0 DANIEL A WUBAH SR ADVISOR TO PRESIDENT 279667 0 0 0 0 0 25940 0 16460 0 322067 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 $58,350 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. TRAVEL EXPENSE OF LESS THAN $3,000 WAS PAID FOR THE FORMER PRESIDENT'S SPOUSE TO ATTEND MULTIPLE FUNDRAISING AND BOARD OF TRUSTEE FUNCTIONS DURING THE FISCAL YEAR. 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 FORMER UNIVERSITY PRESIDENT PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN SPONSORED BY THE UNIVERSITY. FOR THE CALENDAR YEAR 2016, $109,685 WAS CONTRIBUTED TO THIS PLAN AND IS INCLUDED ABOVE IN PART II, COLUMN B. A Industrial Development Authority of Rockbridge 541284598 999999999 2003-03-31 3950000 Reduce outstanding debt false false false B Industrial Development Authority-Lexington City 546001392 52976TAF4 2010-09-24 15000000 Various capital projects false false false C Industrial Development Authority-Lexington City 546001392 52976TAH0 2013-07-10 35190505 Renovate residence halls /other ca false false false A 0 0 39500000 0 0 39500000 0 0 0 39500000 0 0 2003 false false true true B 0 0 15000000 0 0 0 205607 0 0 14829933 0 0 2012 false false true true C 0 0 35190505 0 0 0 299959 0 0 35080546 0 0 2016 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A true true true SUNTRUST CAP MARKET 15. false false false 0 false true B 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 AUGUST 16, 2016 FOR THE Industrial Development Authority-Lexington City Bond. THE REBATE COMPUTATION WAS LAST PERFORMED ON NOVEMBER 26, 2016 AND MAY 24, 2017 FOR VIRGINIA COLLEGE BUILDING AUTHORITY BOND. A Virginia College Building Authority 541249154 9277817C2 2015-04-22 15000000 Build residence halls false false false B Virginia College Building Authority 541249154 999999999 2015-04-22 32040000 Renovate residence halls ans capit false false false A 0 0 14968500 0 0 0 144142 0 0 14883436 0 0 2017 false false true true B 0 0 30360348 0 0 6437829 308692 0 0 30234883 0 0 2017 false false true true A false false false false 0 false false false true B 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 A true B true JAMES D FARRAR JR Employee Home Mortgage X 240000 161311 false false true DENNIS W CROSS Employee Home Mortgage X 57525 44620 false false true BRANT J HELLWIG Employee Home Mortgage X 450000 394068 false false true 599999 Schedule L, Part II 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 LEXINGTON 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 6/30/17, THE UNIVERSITY HAD 272 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 27 127410 APPRAISAL X 236 3182892 SELLING PRICE X Other - equestrian horse 2 100000 appraisal X Other - harpsichord 1 12000 appraisal 10 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. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990,PART VI, QUESTION 2 FAMILY OR BUSINESS RELATIONSHIPS A TRUSTEE HAS DISCLOSED THAT HE IS AN EMPLOYEE OF M&T BANK. WASHINGTON AND LEE UNIVERSITY DOES HAVE A BUSINESS RELATIONSHIP WITH M&T. IN THE SPRING OF 2014, THROUGH A COMPETITIVE RFP PROCESS, THE UNIVERSITY DETERMINED TO NAME M&T/WILMINGTON TRUST AS THE UNIVERSITY'S PRIMARY SECURITIES BROKER FOR GIFTED SECURITIES. THE TRUSTEE RECEIVES NO BENEFIT FROM THE RELATIONSHIP. THE COMPANIES OF TWO TRUSTEES HAVE PARTICIPATED TOGETHER IN OIL AND GAS INVESTMENTS. ONE TRUSTEE OWNS AN INTEREST IN AN OIL COMPANY THAT DOES BUSINESS WITH ANOTHER TRUSTEE'S COMPANY. THE UNIVERSITY HAS NO INVOLVEMENT WITH EITHER COMPANY. A TRUSTEE HAS DISCLOSED THAT HE HAS BEEN AN OFFICER OR DIRECTOR OF A COMPANY THAT PRODUCES PRODUCTS FOR WHICH UNIVERSITY DINING SERVICES MAY USE. THE UNIVERSITY MAY PURCHASE PRODUCTS FROM THIS COMPANY BUT DOES SO VIA A WHOLESALE DEALER AT FAIR VALUE. 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 IN YEARS PRIOR TO TAX YEAR 2010, THE FINANCIAL STATEMENTS OF THE UNIVERSITY HAVE BEEN REPORTED ON A SEPARATE BASIS, AS NO OTHER AFFILIATES EXISTED. ON NOVEMBER 15, 2010, COLONNADE RESTORATION, LLC, A VIRGINIA LIMITED LIABILITY COMPANY AND CONTROLLED AFFILIATE OF THE UNIVERSITY, WAS FORMED FOR THE PURPOSE OF RESTORING, REHABILITATING, CONSTRUCTING AND DEVELOPING THE HISTORIC BUILDINGS ON THE UNIVERSITY GROUNDS KNOWN COLLECTIVELY AS THE COLONNADE. COLONNADE RESTORATION, LLC WAS FORMED SO THAT THE RENOVATION EXPENDITURES INCURRED ON THE REHABILITATION PROJECTS DESIGNATED BY THE VIRGINIA DEPARTMENT OF HISTORIC RESOURCES WILL SUPPORT VIRGINIA HISTORIC TAX CREDITS CERTIFIED TO COLONNADE RESTORATION, LLC FOR ALLOCATION TO ITS MEMBERS. THE UNIVERSITY HAS NO MEMBERSHIP INTEREST IN COLONNADE RESTORATION, LLC BUT RATHER CONTROLS THE AFFILIATE THROUGH VARIOUS LEASING ARRANGEMENTS. Charitable remainder trusts (54) C/0 BNY MELLON NA PO BOX 185 Pittsburgh VA 15230 CRUT VA W&L UNIVERSITY Trust false Charitable lead trusts (2) C/0 BNY MELLON NA PO BOX 186 Pittsburgh VA 15231 Crut VA W&L UNIVERSITY Trust false Pooled income fund C/0 BNY MELLON NA PO BOX 187 Pittsburgh VA 15232 546123755 CRuT VA W&L UNIVERSITY Trust false Annuities (8) C/0 BNY MELLON NA PO BOX 188 Pittsburgh VA 15233 CRUT VA W&L UNIVERSITY Trust false false false false false false false false false false false false false false false false false false false Schedule R, PART IV, LINE (1), COLUMN (C) LEGAL DOMICILE OF TRUST THE CHARITABLE REMAINDER TRUSTS ARE LEGALLY DOMICILED IN GA, LA, TX, AND VA.