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.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
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
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $263.5M in investments, Pt X · Ln 11–13
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $48K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$72.0M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
33
of 33 voting members
Looks good: 33 of 33 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$131.6M
+41% vs prior year
Spent
$92.9M
To programs
84%
Net assets
$403.8M
By yearFY2020–FY2025
Revenue
$131.6M
FY2022▲ +41%
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
$92.9M
FY2022▲ +8%
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
$403.8M
FY2022▼ -7%
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

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

84 cents of each dollar spent went to programs.

Program services 84% · $78.1M Management & general 15% · $13.8M Fundraising 1% · $1.1M

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

46 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President Through September 2021
$253,494Pt VII · Sec A
VP, Advancement, Alumni Af
$208,500Pt VII · Sec A
Provost & Dean of the College
$202,308Pt VII · Sec A
Vice President Enrollment
$194,250Pt VII · Sec A
Provost & Dean of the Coll
$170,800Pt VII · Sec A
Director, Ces
$170,000Pt VII · Sec A
Vice President and Dean of
$147,075Pt VII · Sec A
VP for Finance & Administr
$140,423Pt 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 →

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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.

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Provided by the organization

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3 programs · $78.1M · in their own filed words · FY2021
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.

$77.7Mprogram 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.

$313Kprogram 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.

Pt IX · 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

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$131.6M
Ln 12
Fees for servicesLn 2g$61.3M
Investment incomeLn 3$46.8M
Gifts and grantsLn 1h$22.6M
Money outPt IX
$92.9M
Ln 25
Programscol B$78.1M
Managementcol C$13.8M
Fundraisingcol D$1.1M
Owns and owesPt X
$403.8M
net assets · Ln 32
Cash and savingsLn 1–2$33.0M
Total assetsLn 16$475.9M
LiabilitiesLn 26$72.0M
PeoplePt VI, VII
46
listed · VII A
PaidVII A13
Voting boardVI 1a33
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$22.6M
Government grantsLn 1e$7.0M
Noncash giftsLn 1g$20K
Fees for servicesLn 2g$61.3M
Investment incomeLn 3$46.8M
Other incomeLn 4–11$796K
Gains on assetsLn 7$46.7M
Total revenueLn 12$131.6M
Assets in detailPt X, end of year
SavingsLn 2$33.0M
Cash and savings togetherLn 1–2$33.0M
InvestmentsLn 11–13$263.5M
Land, buildings, equipmentLn 10c$170.2M
Other assetsLn 15$0
Total assetsLn 16$475.9M
LiabilitiesLn 26$72.0M
Net assetsLn 32$403.8M
OperationsPt I, VI
EmployeesI 51,266
VolunteersI 6329
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$33.8M$33.0M
InvestmentsLn 11–13$291.5M$263.5M
Land, buildings, equipmentLn 10c$174.1M$170.2M
Total assetsLn 16$509.6M$475.9M
LiabilitiesLn 26$75.0M$72.0M
Net assetsLn 32$434.6M$403.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3K$3K
Grants to domestic individualsLn 2$29.5M$29.5M
Grants and assistance to foreign recipientsLn 3$843K$843K
Pay of current officers, directors and key staffLn 5$1.0M$868K$119K$27K
Other salaries and wagesLn 7$22.6M$19.4M$2.6M$591K
Other employee benefitsLn 9$3.0M$2.5M$397K$139K
Payroll taxesLn 10$1.6M$1.4M$182K$65K
Legal feesLn 11b$383K$335K$48K
Accounting feesLn 11c$79K$79K
Investment management feesLn 11f$819K$819K
Other fees for servicesLn 11g$5.9M$4.2M$1.7M$80K
Advertising and promotionLn 12$91K$76K$15K
Office expensesLn 13$591K$523K$38K$30K
OccupancyLn 16$4.0M$2.5M$1.5M
TravelLn 17$852K$803K$33K$17K
InterestLn 20$2.1M$1.4M$729K
Depreciation, depletion and amortizationLn 22$8.8M$6.1M$2.6M$2K
InsuranceLn 23$699K$432K$267K
Other expenses (24a–d)Ln 24$5.7M$3.7M$2.0M$82K
All other expensesLn 24e$4.2M$3.5M$620K$74K
Total functional expensesLn 25$92.9M$78.1M$13.8M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $132.3M$113.4M$18.8M$485.5M 990 PDF
FY2024 $154.2M$112.3M$41.9M$477.4M 990 PDF
FY2023 $94.4M$101.4M−$7.0M$405.2M 990 PDF
FY2022 Viewing $131.6M$92.9M$38.7M$403.8M 990 PDF
FY2021 $93.6M$86.0M$7.6M$434.6M 990 PDF
FY2020 $102.9M$97.6M$5.3M$375.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $131,582,653 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,460,258$22,634,199
I-9 Program service revenuePrior year $52,714,646$61,304,647
I-10 Investment incomePrior year $26,865,806$46,847,634
I-11 Other revenuePrior year $570,247$796,173
I-12 Total revenuePrior year $93,610,957$131,582,653
I-13 Grants and similar amounts paidPrior year $29,297,802$30,302,039
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $27,564,691$28,276,896
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $29,114,313$34,336,597
I-18 Total expensesPrior year $85,976,806$92,915,532
I-19 Revenue less expensesPrior year $7,634,151$38,667,121
Part VI · Governance 33 of 33 board members independent, no flags
VI-1a Voting members of the governing body33
VI-1b Independent voting members33
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 $131,582,653 across 9 lines filed
VIII-1e Government grants$7,047,128
VIII-1f All other contributions, gifts and grants$15,587,071
VIII-1g Noncash contributions (included above)$19,650
VIII-1h Total contributions, gifts and grants$22,634,199
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $60,942,383 · Unrelated business $362,264$61,304,647
VIII-3 Investment incomeUnrelated business −$110,145 · Excluded from tax $230,046$119,901
VIII-7 Net gain or loss on sales of assetsExcluded from tax $46,727,733$46,727,733
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $796,173$796,173
VIII-12 Total revenueRelated to mission $60,942,383 · Unrelated business $252,119 · Excluded from tax $47,753,952$131,582,653
Part IX · Statement of functional expenses $92,915,532 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $3,137$3,137
IX-2 Grants to domestic individualsPrograms $29,455,526$29,455,526
IX-3 Grants and assistance to foreign recipientsPrograms $843,376$843,376
IX-5 Pay of current officers, directors and key staffPrograms $868,439 · Management $118,647 · Fundraising $26,515$1,013,601
IX-7 Other salaries and wagesPrograms $19,372,439 · Management $2,646,740 · Fundraising $591,492$22,610,671
IX-9 Other employee benefitsPrograms $2,478,169 · Management $396,514 · Fundraising $138,624$3,013,307
IX-10 Payroll taxesPrograms $1,392,286 · Management $182,136 · Fundraising $64,895$1,639,317
IX-11b Legal feesPrograms $335,403 · Management $48,019$383,422
IX-11c Accounting feesPrograms $78,957$78,957
IX-11f Investment management feesManagement $818,935$818,935
IX-11g Other fees for servicesPrograms $4,169,748 · Management $1,690,604 · Fundraising $80,282$5,940,634
IX-12 Advertising and promotionPrograms $75,534 · Management $15,284$90,818
IX-13 Office expensesPrograms $522,628 · Management $38,097 · Fundraising $30,294$591,019
IX-16 OccupancyPrograms $2,513,269 · Management $1,527,329$4,040,598
IX-17 TravelPrograms $802,662 · Management $32,630 · Fundraising $16,759$852,051
IX-20 InterestPrograms $1,415,888 · Management $729,397$2,145,285
IX-22 Depreciation, depletion and amortizationPrograms $6,133,357 · Management $2,637,596 · Fundraising $1,998$8,772,951
IX-23 InsurancePrograms $432,349 · Management $266,657$699,006
IX-24 Other expenses (24a–d)Programs $3,652,259 · Management $1,985,219 · Fundraising $81,691$5,719,169
IX-24e All other expensesPrograms $3,510,066 · Management $619,909 · Fundraising $73,777$4,203,752
IX-25 Total functional expensesPrograms $78,055,492 · Management $13,753,713 · Fundraising $1,106,327$92,915,532
Part X · Balance sheet $475,865,680 assets, 18 lines filed
Asset lines not itemized here account for $48,606; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $33,787,310$33,030,486
X-3 Pledges and grants receivableStart of year $2,630,395$6,394,599
X-4 Accounts receivableStart of year $2,044,208$1,438,366
X-9 Prepaid expenses and deferred chargesStart of year $1,652,137$1,306,157
X-10c Land, buildings and equipment, netStart of year $174,143,492$170,170,019
X-11 Publicly traded securitiesStart of year $152,764,737$140,705,820
X-12 Other securitiesStart of year $138,764,989$122,771,627
X-15 Other assetsStart of year $3,750,000$0
X-16 Total assetsStart of year $509,587,236$475,865,680
X-17 Accounts payable and accrued expensesStart of year $4,232,271$3,480,585
X-19 Deferred revenueStart of year $2,075,043$630,080
X-20 Tax-exempt bond liabilitiesStart of year $60,169,200$66,723,761
X-25 Other liabilitiesStart of year $8,516,779$1,203,848
X-26 Total liabilitiesStart of year $74,993,293$72,038,274
X-27 Net assets without donor restrictionsStart of year $125,115,744$117,441,716
X-28 Net assets with donor restrictionsStart of year $309,478,199$286,385,690
X-32 Total net assets or fund balancesStart of year $434,593,943$403,827,406
X-33 Total liabilities and net assetsStart of year $509,587,236$475,865,680
Part XI · Reconciliation of net assets $403,827,406 net assets at year end
XI-1 Total revenue$131,582,653
XI-2 Total expenses$92,915,532
XI-3 Revenue less expenses$38,667,121
XI-4 Net assets at start of year$434,593,943
XI-5 Net unrealized gains (losses) on investments−$69,883,713
XI-9 Other changes in net assets$450,055
XI-10 Net assets at end of year$403,827,406

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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