Washington College

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Washington College challenges and inspires emerging citizen leaders to discover lives of purpose and passion.core valueswe share these values of our founding patron, george Washington: integrity, determination, curiosity, civility, leadership, and moral courage. We offer academic rigor and self-discovery in a supportive, residential community of well-qualified, diverse, and motivated individuals. We develop in our students habits of analytic thought and clear communication, aesthetic insight, ethical sensitivity, and civic responsibility.

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-0591691) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 329 volunteers and 1,266 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $17.5M a year · 15% of revenue · last 6 filings
A surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
81% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.0M
to officers and key staff · 3% of spending
Pay to officers and key staff is 3% of spending.
Part VII, Section A
1.5 mo
of spending, in cash
Plus $351.1M in investments, Pt X · Ln 11–13
1.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $48K
5 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$81.6M
14% of total assets
Liabilities are 14% of assets.
Pt X · Ln 26
Independent board members
35
of 36 voting members
35 of 36 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$132.3M
-14% vs prior year
Spent
$113.4M
To programs
81%
Net assets
$485.5M
By yearFY2020–FY2025
Revenue
$132.3M
FY2025▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$102.9M
FY2021$93.6M
FY2022$131.6M
FY2023$94.4M
FY2024$154.2M
FY2025$132.3M
Expenses
$113.4M
FY2025▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$97.6M
FY2021$86.0M
FY2022$92.9M
FY2023$101.4M
FY2024$112.3M
FY2025$113.4M
Net assets
$485.5M
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$375.8M
FY2021$434.6M
FY2022$403.8M
FY2023$405.2M
FY2024$477.4M
FY2025$485.5M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1947.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $91.8M Management & general 16% · $18.7M Fundraising 3% · $2.9M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

47 people listed on the 990; $3.0M paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
President (until 7/31/25)
$553,587Pt VII · Sec A
VP, Advancement, Alumni Af
$270,974Pt VII · Sec A
Vice President for Marketing and Com
$226,221Pt VII · Sec A
Provost & Dean of the College
$210,918Pt VII · Sec A
Director, Ces
$205,320Pt VII · Sec A
VP of Student Affairs
$189,242Pt VII · Sec A
Vice President for Enrollment Management
$188,034Pt VII · Sec A
Chief of Staff/VP for Planning
$174,297Pt VII · Sec A

Michael Sosulski’s $554K as President (until 7/31/25) is at the 46th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michael Sosulski$553,587$441,251$403,599$129,354——
Kurt Landgraf————$389,301$407,235
Susannah C Sutley$270,974$264,053$260,868$208,500$216,319—
Edward Patrick$154,224$254,175$240,917———
Wayne Powell———$253,494——
Susannah Sutley—————$238,478
Mark Hampton—————$228,406
Brian Speer$226,221$211,973————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Washington College executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides a residential liberal arts college education that challenges students to become responsible citizen leaders through academic study and on-campus community living.

Questions for Washington College

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3 programs · $91.8M · in their own filed words · FY2024
01

Washington college's achievements include succeeding as an institution of higher education promoting habits of analytic thought, aesthetic insight, imagination, ethical sensitivity and clarity of expression while successfully graduating students in 4 years.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-0591691) · Dispute this line
$91.7Mprogram expense
02

Washington college uses its facilities during summer months to facilitate educational experiences for younger k-12 students. These students are given an opportunity to participate in summer camps ranging from sciences, mathematics and hands on projects.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-0591691) · Dispute this line
$134Kprogram expense
03

Washington college's residential life program provides students with opportunities and experiences that help them to develop responsibilities both to themselves and to their fellow students. It attempts to provide a relaxing and calm atmosphere for study and day-to-day living.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-0591691) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 5 funders →
Grants paid · 12 grants · $181.6M · 2019–2024
Unitemized GrantFY2024$32,287,280
Outerarts Maryland INCMD · FY2024$32,709
Unitemized GrantFY2023$29,188,934
Unitemized GrantFY2023$406,711
Unitemized GrantFY2022$29,197,890
Unitemized GrantFY2022$472,524
Unitemized GrantFY2021$29,151,909
Unitemized GrantFY2021$303,617
Unitemized GrantFY2020$28,210,590
Unitemized GrantFY2020$460,378
Unitemized GrantFY2019$31,144,198
Unitemized GrantFY2019$781,916

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $6.9M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.8M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.4M
National Priority Safety ProgramsDepartment of Transportation · ALN 20.616 · Through Maryland Highway Safety Office$349K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$147K
Geographic Programs - Chesapeake Bay ProgramEnvironmental Protection Agency · ALN 66.466 · Through National Fish and Wildlife Foundation$119K

Plus 2 smaller programs.

The auditor reported 2 findings: a weakness in money controls.

Year ending Jun 2024 · $6.8M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
National Priority Safety ProgramsDepartment of Transportation · ALN 20.616 · Through Maryland Highway Safety Office$506K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$179K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$141K

Plus 3 smaller programs.

The auditor reported 11 findings: a weakness in money controls, questioned costs.

Year ending Jun 2023 · $8.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$5.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.0M
Promotion of the Humanities_challenge GrantsNational Endowments for the Arts and Humanities · ALN 45.130 · Direct$625K
National Priority Safety ProgramsDepartment of Transportation · ALN 20.616 · Through MD Highway Safety Office$372K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$183K

Plus 4 smaller programs.

The auditor reported 6 findings: a material weakness in money controls.

Year ending Jun 2022 · $10.6M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$5.4M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$2.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
Promotion of the Humanities_challenge GrantsNational Endowments for the Arts and Humanities · ALN 45.130 · Direct$625K
State and Community Highway SafetyDepartment of Transportation · ALN 20.600 · Through Maryland Highway Safety$233K

Plus 8 smaller programs.

The auditor reported 4 findings: a weakness in money controls.

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$132.3M
Ln 12
Fees for servicesLn 2g$61.1M
Other incomeLn 4–11$37.0M
Gifts and grantsLn 1h$21.4M
Money outPt IX
$113.4M
Ln 25
Programscol B$91.8M
Managementcol C$18.7M
Fundraisingcol D$2.9M
Owns and owesPt X
$485.5M
net assets · Ln 32
Cash and savingsLn 1–2$14.4M
Total assetsLn 16$567.1M
LiabilitiesLn 26$81.6M
PeoplePt VI, VII
47
listed · VII A
PaidVII A14
Voting boardVI 1a36
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$21.4M
Government grantsLn 1e$8.0M
Noncash giftsLn 1g$231K
Fundraising eventsLn 1c$10K
Fees for servicesLn 2g$61.1M
Investment incomeLn 3$12.8M
Other incomeLn 4–11$37.0M
Gains on assetsLn 7$35.7M
Total revenueLn 12$132.3M
Assets in detailPt X, end of year
CashLn 1$6.6M
SavingsLn 2$7.8M
Cash and savings togetherLn 1–2$14.4M
Pledges and grants receivableLn 3$15.1M
Accounts receivableLn 4$1.6M
Notes and loans receivableLn 7$45K
Prepaid expenses and deferred chargesLn 9$1.2M
Land, buildings, equipmentLn 10c$168.2M
InvestmentsLn 11–13$351.1M
Other assetsLn 15$15.5M
Total assetsLn 16$567.1M
LiabilitiesLn 26$81.6M
Net assetsLn 32$485.5M
OperationsPt I, VI
EmployeesI 51,266
VolunteersI 6329
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$56.7M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$77.9M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$977K
Noncash gifts receivedSch M Pt I$231K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$1.6M
Share of the $371.0M endowmentSch D 1g0.43%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY25FY24FY23FY22FY21
End of yearLn 1g$371.0M$362.3M$281.1M$273.0M$299.8M
AddedLn 1b$4.2M$61.2M$6.6M$12.1M$5.3M
SpentLn 1d–1f$32.2M$17.9M$19.2M$15.3M$14.1M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$9.5M$14.4M
InvestmentsLn 11–13$346.7M$351.1M
Land, buildings, equipmentLn 10c$172.5M$168.2M
Total assetsLn 16$563.0M$567.1M
LiabilitiesLn 26$85.7M$81.6M
Net assetsLn 32$477.4M$485.5M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$38K$38K
Grants to domestic individualsLn 2$32.3M$32.3M
Grants and assistance to foreign recipientsLn 3$977K$977K
Pay of officers and key staff (Part IX, line 5)Ln 5$2.4M$919K$1.2M$308K
Other salaries and wagesLn 7$31.2M$26.3M$3.6M$1.3M
Pension plan contributionsLn 8$907K$780K$19K$108K
Other employee benefitsLn 9$5.3M$4.4M$715K$214K
Payroll taxesLn 10$2.3M$1.9M$317K$110K
Legal feesLn 11b$556K$556K
Accounting feesLn 11c$173K$173K
Investment management feesLn 11f$1.6M$1.6M
Other fees for servicesLn 11g$8.1M$3.5M$4.0M$495K
Advertising and promotionLn 12$297K$207K$89K$1K
Office expensesLn 13$589K$512K$16K$61K
OccupancyLn 16$3.0M$1.9M$1.1M$26K
TravelLn 17$1.7M$1.6M$31K$109K
InterestLn 20$3.9M$2.4M$1.5M
Depreciation, depletion and amortizationLn 22$9.1M$6.7M$2.4M$2K
InsuranceLn 23$1.1M$649K$403K
Other expenses (24a–d)Ln 24$5.5M$4.9M$538K$82K
All other expensesLn 24e$2.4M$1.9M$413K$53K
Total functional expensesLn 25$113.4M$91.8M$18.7M$2.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS May 15, 2026 $132.3M$113.4M$18.8M$485.5M 990 PDF
FY2024Filed with the IRS May 15, 2025 $154.2M$112.3M$41.9M$477.4M 990 PDF
FY2023Filed with the IRS May 15, 2024 $94.4M$101.4M−$7.0M$405.2M 990 PDF
FY2022Filed with the IRS May 15, 2023 $131.6M$92.9M$38.7M$403.8M 990 PDF
FY2021Filed with the IRS May 16, 2022 $93.6M$86.0M$7.6M$434.6M 990 PDF
FY2020Filed with the IRS May 13, 2021 $102.9M$97.6M$5.3M$375.8M 990 PDF

Schedules filed Part IV

A · Public support B · Donors D · Assets and endowments E · Schools F · Foreign I · Grants J · Pay K · Bonds M · Noncash O · Explanations R · Related orgs
See the full FY2025 990
Part I · Summary $132,277,197 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $85,403,009$21,433,245
I-9 Program service revenuePrior year $59,014,658$61,062,512
I-10 Investment incomePrior year $8,310,699$48,496,422
I-11 Other revenuePrior year $1,464,316$1,285,018
I-12 Total revenuePrior year $154,192,682$132,277,197
I-13 Grants and similar amounts paidPrior year $30,251,019$33,301,798
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $38,496,999$42,107,174
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $43,546,638$38,041,020
I-18 Total expensesPrior year $112,294,656$113,449,992
I-19 Revenue less expensesPrior year $41,898,026$18,827,205
Part VI · Governance 35 of 36 board members independent, no flags
VI-1a Voting members of the governing body36
VI-1b Independent voting members35
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $132,277,197 across 12 lines filed
VIII-1c Fundraising events$10,335
VIII-1e Government grants$7,998,057
VIII-1f All other contributions, gifts and grants$13,424,853
VIII-1g Noncash contributions (included above)$231,280
VIII-1h Total contributions, gifts and grants$21,433,245
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $60,883,789 · Unrelated business $178,723$61,062,512
VIII-3 Investment incomeUnrelated business −$134,408 · Excluded from tax $12,935,488$12,801,080
VIII-6 Net rental income or lossExcluded from tax $117,393$117,393
VIII-7 Net gain or loss on sales of assetsUnrelated business −$84,497 · Excluded from tax $35,779,839$35,695,342
VIII-8 Net income from fundraising eventsExcluded from tax −$655−$655
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,168,280$1,168,280
VIII-12 Total revenueRelated to mission $60,883,789 · Unrelated business −$40,182 · Excluded from tax $50,000,345$132,277,197
Part IX · Statement of functional expenses $113,449,992 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $37,661$37,661
IX-2 Grants to domestic individualsPrograms $32,287,280$32,287,280
IX-3 Grants and assistance to foreign recipientsPrograms $976,857$976,857
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $919,329 · Management $1,219,103 · Fundraising $307,669$2,446,101
IX-7 Other salaries and wagesPrograms $26,297,576 · Management $3,562,775 · Fundraising $1,319,532$31,179,883
IX-8 Pension plan contributionsPrograms $779,528 · Management $19,249 · Fundraising $108,365$907,142
IX-9 Other employee benefitsPrograms $4,351,251 · Management $715,096 · Fundraising $214,097$5,280,444
IX-10 Payroll taxesPrograms $1,866,710 · Management $316,950 · Fundraising $109,944$2,293,604
IX-11b Legal feesManagement $555,544$555,544
IX-11c Accounting feesManagement $172,869$172,869
IX-11f Investment management feesManagement $1,604,034$1,604,034
IX-11g Other fees for servicesPrograms $3,547,630 · Management $4,009,196 · Fundraising $494,525$8,051,351
IX-12 Advertising and promotionPrograms $207,153 · Management $89,078 · Fundraising $1,000$297,231
IX-13 Office expensesPrograms $511,767 · Management $16,383 · Fundraising $61,193$589,343
IX-16 OccupancyPrograms $1,879,444 · Management $1,100,984 · Fundraising $26,280$3,006,708
IX-17 TravelPrograms $1,589,698 · Management $30,814 · Fundraising $108,564$1,729,076
IX-20 InterestPrograms $2,383,726 · Management $1,542,952$3,926,678
IX-22 Depreciation, depletion and amortizationPrograms $6,742,715 · Management $2,402,664 · Fundraising $2,220$9,147,599
IX-23 InsurancePrograms $648,693 · Management $402,729$1,051,422
IX-24 Other expenses (24a–d)Programs $4,909,432 · Management $537,966 · Fundraising $82,478$5,529,876
IX-24e All other expensesPrograms $1,913,260 · Management $412,539 · Fundraising $53,490$2,379,289
IX-25 Total functional expensesPrograms $91,849,710 · Management $18,710,925 · Fundraising $2,889,357$113,449,992
Part X · Balance sheet $567,114,447 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $4,721,884$6,564,301
X-2 Savings and temporary cash investmentsStart of year $4,732,544$7,826,959
X-3 Pledges and grants receivableStart of year $16,525,291$15,060,045
X-4 Accounts receivableStart of year $1,676,441$1,609,117
X-7 Notes and loans receivableStart of year $45,174$45,174
X-9 Prepaid expenses and deferred chargesStart of year $1,114,002$1,174,583
X-10c Land, buildings and equipment, netStart of year $172,456,641$168,220,881
X-11 Publicly traded securitiesStart of year $188,339,576$180,771,819
X-12 Other securitiesStart of year $158,319,860$170,311,042
X-15 Other assetsStart of year $15,097,846$15,530,526
X-16 Total assetsStart of year $563,029,259$567,114,447
X-17 Accounts payable and accrued expensesStart of year $7,410,670$7,105,209
X-19 Deferred revenueStart of year $645,977$1,001,719
X-20 Tax-exempt bond liabilitiesStart of year $60,093,261$56,657,916
X-25 Other liabilitiesStart of year $17,516,122$16,810,000
X-26 Total liabilitiesStart of year $85,666,030$81,574,844
X-27 Net assets without donor restrictionsStart of year $98,932,210$95,674,142
X-28 Net assets with donor restrictionsStart of year $378,431,019$389,865,461
X-32 Total net assets or fund balancesStart of year $477,363,229$485,539,603
X-33 Total liabilities and net assetsStart of year $563,029,259$567,114,447
Part XI · Reconciliation of net assets $485,539,603 net assets at year end
XI-1 Total revenue$132,277,197
XI-2 Total expenses$113,449,992
XI-3 Revenue less expenses$18,827,205
XI-4 Net assets at start of year$477,363,229
XI-5 Net unrealized gains (losses) on investments−$10,703,352
XI-9 Other changes in net assets$52,521
XI-10 Net assets at end of year$485,539,603

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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