Washington & Lee University
70% goes to programs $10 to raise $100 Strong reserves
Washington & Lee University is a 501(c)(3) organization based in Lexington, Virginia, registered in 1923, with $284,783,302 in FY2023 revenue. CharityIndex grades it B+, and it directs about 70% of spending to programs.
204 W Washington St, Lexington, VA, 24450 EIN 54-0505977 Since 1923
Revenue (FY2023)
$284.8M
▲ 3.0% vs prior year
Education median: $200K
Expenses (FY2023)
$297.0M
Net assets
$2.3B
Employees
2,833
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating70% to programs · $10 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Washington & Lee University: 70% to programs · $10 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating93 mo reserves · -4% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Washington & Lee University: 93 mo reserves · -4% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Washington & Lee University: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Washington & Lee University: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
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.
Contact & location
- Address
- 204 W Washington St, Lexington, VA, 24450
- City
- Lexington
- State
- Virginia
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $194.0M (FY2013) to $284.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $315.5MNet assets $2.3B
Operating margin
-4.3%
Spent more than it raised in the latest fiscal year.
Total assets
$2.6B
Total liabilities
$315.5M
Net assets
$2.3B
Salaries & benefits
$129.8M
44% of expenses
Board members
27
26 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $284,783,302▲3.0% | $296,996,460▲7.3% | $2,290,794,306▲3.6% | $2,606,326,104▲2.8% | 990 |
| 2022 | $276,609,869▲11.2% | $276,840,316▲8.6% | $2,211,841,577▼0.1% | $2,535,613,259▲1.9% | 990 |
| 2021 | $248,819,904▼3.7% | $254,894,072▲6.6% | $2,214,533,746▼3.8% | $2,488,364,359▼3.6% | 990 |
| 2020 | $258,505,782▲38.8% | $239,141,002▼0.8% | $2,300,932,352▲26.0% | $2,582,500,341▲22.9% | 990 |
| 2019 | $186,199,453▼34.2% | $241,164,102▲2.5% | $1,826,636,614▼3.0% | $2,101,751,936▼2.8% | 990 |
| 2018 | $283,158,640▲26.9% | $235,220,510▲5.2% | $1,882,740,220▲3.7% | $2,161,435,497▲4.2% | 990 |
| 2017 | $223,174,779▼41.0% | $223,662,843▲6.2% | $1,814,893,443▲3.4% | $2,074,715,366▲2.8% | 990 |
| 2016 | $378,454,881▲81.8% | $210,548,426▲4.0% | $1,755,211,927▲4.7% | $2,018,935,767▲3.6% | 990 |
| 2015 | $208,173,690▼12.2% | $202,360,753▲1.6% | $1,676,185,061▼0.8% | $1,948,547,262▼0.9% | 990 |
| 2014 | $237,141,471▲22.2% | $199,251,731▲3.1% | $1,689,640,209▲1.1% | $1,965,589,597▲2.5% | 990 |
| 2013 | $193,982,696 | $193,241,107▲5.9% | $1,670,814,566▲9.0% | $1,917,503,821▲10.2% | 990 |
| 2012 | — | $182,422,523▲5.6% | $1,532,714,469▲7.0% | $1,740,052,311▲6.4% | 990 |
| 2011 | — | $172,799,909▲7.7% | $1,432,008,827▲3.0% | $1,635,596,621▲2.3% | 990 |
| 2010 | — | $160,380,611▲0.2% | $1,390,412,285▲16.7% | $1,598,398,222▲15.2% | 990 |
| 2009 | — | $160,033,429 | $1,191,736,530 | $1,387,416,640 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: William C Dudley — $632,313 (0.21% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William C Dudley | President and Trustee | 40 | $632,313 |
| Thomas Jennings | Vice President | 40 | $431,344 |
| Steven G Mcallister | Treasurer | 40 | $387,321 |
| Melanie Wilson | Dean | 40 | $380,377 |
| Lena Hill | Provost | 40 | $348,439 |
| Brian C Murchison | Professor | 40 | $313,875 |
| Maria Feeley | Chief Legal Officer and General Counsel | 40 | $302,382 |
| Robert D Straughan | Dean | 40 | $302,277 |
| Mark Drumbl | Professor | 40 | $292,087 |
| Elizabeth Oliver | Professor | 40 | $277,682 |
| Scott Hoover | Professor | 40 | $275,288 |
| Chawne Kimber | Dean | 40 | $263,174 |
| Jessica L Willett | Secretary | 40 | $241,027 |
| Brodie Gregory Riordan | Trustee | 4 | — |
| Charles H Prioleau | Trustee | 4 | — |
| Christopher C Dyson | Trustee | 4 | — |
| Christopher H Williams | Trustee | 4 | — |
| Cindy D Hauser | Trustee | 4 | — |
| Clifford K Holekamp | Trustee | 4 | — |
| Cynthia T Cheatham | Trustee | 4 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Kjellstrom & Lee Inc | Construction | $25,882,602 |
| Makena Capital LP | Investment Mgmt | $6,586,479 |
| Workday Inc | Software Development | $1,207,818 |
| E4h - Environments For Health LLC | Construction | $848,304 |
| Holiday Tours | Transportation | $569,654 |
Grants received · $123.9M total
410 grants to Washington & Lee University totaling $123.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $767K in FY2023
7 grants totaling $767K in FY2023. All grants made by Washington & Lee University →
| Recipient | Purpose | Amount |
|---|---|---|
| City of Lexington Va | Payment in lieu of taxes/program service | $647,068 |
| Ndponics | Program service | $64,508 |
| Rockbridge Area Free Clinic | Program service | $25,000 |
| Omicron Delta Kappa Society and Educational Foundation Inc | Program service | $10,000 |
| Rockbridge NAACP | Program service | $10,000 |
| Bridge To Hope Food Pantry LLC | Program service | $5,500 |
| Rockbridge Area Relief Association Incorporated | Program service | $5,120 |
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Compare Washington & Lee University
Frequently asked questions
- Is Washington & Lee University a legitimate nonprofit?
- Yes. Washington & Lee University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 54-0505977, based in Lexington, Virginia. Donations are tax-deductible.
- What is Washington & Lee University's EIN?
- Washington & Lee University's Employer Identification Number (EIN) is 54-0505977.
- How much revenue does Washington & Lee University report?
- Washington & Lee University reported $284,783,302 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Washington & Lee University's spending goes to programs?
- Washington & Lee University spends about 70% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Washington & Lee University have?
- CharityIndex grades Washington & Lee University B+, based on program efficiency and fundraising cost.
- How much does Washington & Lee University's highest-paid employee make?
- The highest reported compensation on Washington & Lee University's latest Form 990 is $632,313, paid to William C Dudley (President and Trustee).
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Data for Washington & Lee University (EIN 54-0505977) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.