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.
81¢ of each $1 spent went to programs.
$2.7M 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

FY2024 · 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
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
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
1 mo
of spending, in cash
Plus $346.7M in investments, Pt X · Ln 11–13
Fine: 1.0 months of spending in cash; 1 to 3.
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
$85.7M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 33 voting members
Looks good: 32 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
$154.2M
+63% vs prior year
Spent
$112.3M
To programs
81%
Net assets
$477.4M
By yearFY2020–FY2025
Revenue
$154.2M
FY2024▲ +63%
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
$112.3M
FY2024▲ +11%
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
$477.4M
FY2024▲ +18%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

81 cents of each dollar spent went to programs.

Program services 81% · $91.0M Management & general 17% · $18.7M Fundraising 2% · $2.6M

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; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$441,251Pt VII · Sec A
VP, Advancement, Alumni Af
$264,053Pt VII · Sec A
VP for Finance & Administration
$254,175Pt VII · Sec A
Vice President for Marketing and Communication
$211,973Pt VII · Sec A
Former Director, Ces (thru 12/22)
$210,230Pt VII · Sec A
Director, Ces
$198,670Pt VII · Sec A
Vice President for Enrollment Management
$175,349Pt VII · Sec A
VP of Student Affairs
$174,884Pt 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.

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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 · $91.0M · in their own filed words · FY2023
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.

$90.8Mprogram 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.

$213Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$154.2M
Ln 12
Gifts and grantsLn 1h$85.4M
Fees for servicesLn 2g$59.0M
Investment incomeLn 3$8.3M
Money outPt IX
$112.3M
Ln 25
Programscol B$91.0M
Managementcol C$18.7M
Fundraisingcol D$2.6M
Owns and owesPt X
$477.4M
net assets · Ln 32
Cash and savingsLn 1–2$9.5M
Total assetsLn 16$563.0M
LiabilitiesLn 26$85.7M
PeoplePt VI, VII
47
listed · VII A
PaidVII A13
Voting boardVI 1a33
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$85.4M
Government grantsLn 1e$6.8M
Noncash giftsLn 1g$99K
Fundraising eventsLn 1c$17K
Fees for servicesLn 2g$59.0M
Investment incomeLn 3$8.3M
Other incomeLn 4–11$1.5M
Gains on assetsLn 7$2.1M
Total revenueLn 12$154.2M
Assets in detailPt X, end of year
CashLn 1$4.7M
SavingsLn 2$4.7M
Cash and savings togetherLn 1–2$9.5M
InvestmentsLn 11–13$346.7M
Land, buildings, equipmentLn 10c$172.5M
Other assetsLn 15$15.1M
Total assetsLn 16$563.0M
LiabilitiesLn 26$85.7M
Net assetsLn 32$477.4M
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 FY24End FY24
Cash and savingsLn 1–2$17.9M$9.5M
InvestmentsLn 11–13$275.0M$346.7M
Land, buildings, equipmentLn 10c$172.7M$172.5M
Total assetsLn 16$491.0M$563.0M
LiabilitiesLn 26$85.8M$85.7M
Net assetsLn 32$405.2M$477.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$19K$19K
Grants to domestic individualsLn 2$29.6M$29.6M
Grants and assistance to foreign recipientsLn 3$636K$636K
Pay of current officers, directors and key staffLn 5$2.0M$661K$1.0M$310K
Other salaries and wagesLn 7$29.3M$24.5M$3.7M$1.0M
Pension plan contributionsLn 8$917K$816K$61K$40K
Other employee benefitsLn 9$4.2M$3.4M$620K$176K
Payroll taxesLn 10$2.1M$1.7M$303K$89K
Legal feesLn 11b$379K$379K
Accounting feesLn 11c$171K$171K
Investment management feesLn 11f$883K$883K
Other fees for servicesLn 11g$10.8M$5.5M$4.8M$519K
Advertising and promotionLn 12$436K$424K$12K
Office expensesLn 13$463K$412K$14K$37K
OccupancyLn 16$3.4M$2.2M$1.2M$31K
TravelLn 17$1.9M$1.7M$83K$37K
InterestLn 20$3.8M$2.2M$1.6M
Depreciation, depletion and amortizationLn 22$9.0M$6.6M$2.4M$2K
InsuranceLn 23$722K$443K$279K
Other expenses (24a–d)Ln 24$5.7M$5.0M$543K$184K
All other expensesLn 24e$5.9M$5.2M$609K$107K
Total functional expensesLn 25$112.3M$91.0M$18.7M$2.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $132.3M$113.4M$18.8M$485.5M 990 PDF
FY2024 Viewing $154.2M$112.3M$41.9M$477.4M 990 PDF
FY2023 $94.4M$101.4M−$7.0M$405.2M 990 PDF
FY2022 $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 M · Noncash J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $154,192,682 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,694,758$85,403,009
I-9 Program service revenuePrior year $60,129,111$59,014,658
I-10 Investment incomePrior year $13,723,495$8,310,699
I-11 Other revenuePrior year $2,835,199$1,464,316
I-12 Total revenuePrior year $94,382,563$154,192,682
I-13 Grants and similar amounts paidPrior year $30,603,110$30,251,019
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $34,387,601$38,496,999
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $36,426,709$43,546,638
I-18 Total expensesPrior year $101,417,420$112,294,656
I-19 Revenue less expensesPrior year −$7,034,857$41,898,026
Part VI · Governance 32 of 33 board members independent, no flags
VI-1a Voting members of the governing body33
VI-1b Independent voting members32
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 $154,192,682 across 12 lines filed
VIII-1c Fundraising events$16,731
VIII-1e Government grants$6,763,317
VIII-1f All other contributions, gifts and grants$78,622,961
VIII-1g Noncash contributions (included above)$98,673
VIII-1h Total contributions, gifts and grants$85,403,009
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $58,795,706 · Unrelated business $218,952$59,014,658
VIII-3 Investment incomeUnrelated business −$434,365 · Excluded from tax $6,680,367$6,246,002
VIII-6 Net rental income or lossExcluded from tax $107,929$107,929
VIII-7 Net gain or loss on sales of assetsUnrelated business $23,491 · Excluded from tax $2,041,206$2,064,697
VIII-8 Net income from fundraising eventsExcluded from tax −$9,757−$9,757
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,366,144$1,366,144
VIII-12 Total revenueRelated to mission $58,795,706 · Unrelated business −$191,922 · Excluded from tax $10,185,889$154,192,682
Part IX · Statement of functional expenses $112,294,656 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $19,461$19,461
IX-2 Grants to domestic individualsPrograms $29,595,645$29,595,645
IX-3 Grants and assistance to foreign recipientsPrograms $635,913$635,913
IX-5 Pay of current officers, directors and key staffPrograms $661,183 · Management $1,016,807 · Fundraising $310,470$1,988,460
IX-7 Other salaries and wagesPrograms $24,510,245 · Management $3,718,537 · Fundraising $1,045,955$29,274,737
IX-8 Pension plan contributionsPrograms $815,816 · Management $61,043 · Fundraising $40,055$916,914
IX-9 Other employee benefitsPrograms $3,437,171 · Management $620,294 · Fundraising $176,372$4,233,837
IX-10 Payroll taxesPrograms $1,690,978 · Management $303,453 · Fundraising $88,620$2,083,051
IX-11b Legal feesManagement $379,120$379,120
IX-11c Accounting feesManagement $170,727$170,727
IX-11f Investment management feesManagement $883,121$883,121
IX-11g Other fees for servicesPrograms $5,462,943 · Management $4,823,453 · Fundraising $519,168$10,805,564
IX-12 Advertising and promotionPrograms $423,814 · Management $11,881$435,695
IX-13 Office expensesPrograms $412,279 · Management $14,481 · Fundraising $36,518$463,278
IX-16 OccupancyPrograms $2,173,228 · Management $1,225,786 · Fundraising $31,497$3,430,511
IX-17 TravelPrograms $1,745,768 · Management $82,808 · Fundraising $37,151$1,865,727
IX-20 InterestPrograms $2,190,185 · Management $1,592,821$3,783,006
IX-22 Depreciation, depletion and amortizationPrograms $6,563,294 · Management $2,396,976 · Fundraising $2,220$8,962,490
IX-23 InsurancePrograms $442,689 · Management $279,362$722,051
IX-24 Other expenses (24a–d)Programs $4,983,649 · Management $543,050 · Fundraising $183,820$5,710,519
IX-24e All other expensesPrograms $5,218,590 · Management $609,115 · Fundraising $107,124$5,934,829
IX-25 Total functional expensesPrograms $90,982,851 · Management $18,732,835 · Fundraising $2,578,970$112,294,656
Part X · Balance sheet $563,029,259 assets, 19 lines filed
Asset lines not itemized here account for $45,174; see the IRS return.
X-1 Cash, non-interest-bearing$4,721,884
X-2 Savings and temporary cash investmentsStart of year $17,903,306$4,732,544
X-3 Pledges and grants receivableStart of year $6,229,825$16,525,291
X-4 Accounts receivableStart of year $2,587,033$1,676,441
X-9 Prepaid expenses and deferred chargesStart of year $1,524,459$1,114,002
X-10c Land, buildings and equipment, netStart of year $172,738,116$172,456,641
X-11 Publicly traded securitiesStart of year $142,886,315$188,339,576
X-12 Other securitiesStart of year $132,138,915$158,319,860
X-15 Other assetsStart of year $14,931,390$15,097,846
X-16 Total assetsStart of year $490,986,375$563,029,259
X-17 Accounts payable and accrued expensesStart of year $6,225,986$7,410,670
X-19 Deferred revenueStart of year $523,352$645,977
X-20 Tax-exempt bond liabilitiesStart of year $63,449,802$60,093,261
X-25 Other liabilitiesStart of year $15,613,324$17,516,122
X-26 Total liabilitiesStart of year $85,812,464$85,666,030
X-27 Net assets without donor restrictionsStart of year $119,080,074$98,932,210
X-28 Net assets with donor restrictionsStart of year $286,093,837$378,431,019
X-32 Total net assets or fund balancesStart of year $405,173,911$477,363,229
X-33 Total liabilities and net assetsStart of year $490,986,375$563,029,259
Part XI · Reconciliation of net assets $477,363,229 net assets at year end
XI-1 Total revenue$154,192,682
XI-2 Total expenses$112,294,656
XI-3 Revenue less expenses$41,898,026
XI-4 Net assets at start of year$405,173,911
XI-5 Net unrealized gains (losses) on investments$30,225,531
XI-9 Other changes in net assets$65,760
XI-10 Net assets at end of year$477,363,229

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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