Willamette University provides rigorous education in the liberal arts and selected professional fields. Teaching and learning, strengthened by scholarship and service, flourish in a vibrant campus community. A Willamette education prepares graduates to transform knowledge into action and lead lives of achievement, contribution and meaning.

501(c)(3) charity; gifts are tax-deductible.
$3.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2021 · 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
0 of 6
filings with a surplus
Average deficit $20.0M a year · 16% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
×19
of spending
Looks good: 1832% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.1M
to officers and key staff · 50% of spending
Concern: pay to officers and key staff is 50% of spending; over 30%.
Pt VII · Sec A
37 mo
of spending, in cash
Plus $392.0M in investments, Pt X · Ln 11–13
Looks good: 36.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $42K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$154.3M
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 33 voting members
Looks good: 30 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
$5.5M
-96% vs prior year
Spent
$6.3M
To programs
×19
Net assets
$457.2M
By yearFY2020–FY2025
Revenue
$5.5M
FY2021▼ -96%
Tap a bar for its year
Revenue by fiscal year
FY2020$130.3M
FY2021$5.5M
FY2022$131.1M
FY2023$137.8M
FY2024$163.3M
FY2025$175.8M
Expenses
$6.3M
FY2021▼ -96%
Tap a bar for its year
Expenses by fiscal year
FY2020$140.7M
FY2021$6.3M
FY2022$156.0M
FY2023$172.9M
FY2024$190.5M
FY2025$197.3M
Net assets
$457.2M
FY2021▲ +34%
Tap a bar for its year
Net assets by fiscal year
FY2020$339.9M
FY2021$457.2M
FY2022$391.6M
FY2023$374.8M
FY2024$380.1M
FY2025$398.4M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Sep 1935.

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

Where the money goes

1832 cents of each dollar spent went to programs.

Program services 1832% · $114.5M Management & general 197% · $12.3M Fundraising 57% · $3.6M

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

79 people listed on the 990; $3.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$401,690Pt VII · Sec A
Parks Distinguished Prof. of Law
$272,951Pt VII · Sec A
Vice President for Advancement
$256,054Pt VII · Sec A
Carol Wendt Chair in Business Law
$249,704Pt VII · Sec A
Professor, Atkinson Graduate School of Management
$242,110Pt VII · Sec A
Provost & Senior Vice President
$232,309Pt VII · Sec A
President, COO & Treasurer
$217,618Pt VII · Sec A
Professor of Law
$208,543Pt VII · Sec A

Stephen Thorsett’s $501K as President is at the 38th 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
Stephen E Thorsett———$641,568$401,690$414,138
Stephen Thorsett$500,509$487,093$484,263———
Shelby Radcliffe$272,564$342,077$260,974$253,462$256,054$260,955
Daniel Valles SR Vice$246,390$265,063$262,276$283,950$217,618—
Symeon Symeonides—————$275,518
Symeon Symeonides Alex L——$202,727$240,665$272,951—
Brian Gallini—$268,039$262,794$254,892$160,971—
Anne Gallagher Associate—$160,684$156,887$261,948——

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 Willamette University 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides rigorous higher education in the liberal arts and professional fields, preparing students for lives of achievement, contribution, and leadership through active campus learning.

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Provided by the organization

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3 programs · $118.6M · in their own filed words · FY2020
01

Higher Education

Instruction and support: 1,277 in the college of arts and sciences, 325 in the college of law, 145 in the atkinson graduate school of management, 12 in data science, and 64 in a joint degree program (1,823 students).

$104.7Mprogram expense
02

Higher Education

Auxiliary functions: includes room & board (for 663 students) and summer conferences.

$9.8Mprogram expense
03

Higher Education

Instruction and support for the month of june 2021 only: 100 students in the college of law, 107 students in the atkinson graduate school of management, 17 students in data science, and one student in the joint degree JD/MBA (222 students).

$4.1Mprogram expense

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
Total grants receivedfrom 3 funders$42K
See all 3 funders →
Grants paid · 27 grants · $354.9M · 2019–2024
Unitemized GrantFY2024$74,888,875
Unitemized GrantFY2024$4,419,915
Unitemized GrantFY2024$601,213
Unitemized GrantFY2024$582,792
Unitemized GrantFY2023$64,716,563
Unitemized GrantFY2023$5,367,764
Unitemized GrantFY2023$617,241
Unitemized GrantFY2023$517,236
Unitemized GrantFY2022$49,873,252
Unitemized GrantFY2022$5,781,506
Unitemized GrantFY2022$602,540
Unitemized GrantFY2022$457,201
Unitemized GrantFY2022$44,810
Unitemized GrantFY2021$44,385,980
Unitemized GrantFY2021$2,548,293
Unitemized GrantFY2021$364,363
See all 27 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$5.5M
Ln 12
Fees for servicesLn 2g$102.1M
Gifts and grantsLn 1h$11.2M
Investment incomeLn 3$1.5M
Money outPt IX
$6.3M
Ln 25
Programscol B$114.5M
Managementcol C$12.3M
Fundraisingcol D$3.6M
Owns and owesPt X
$457.2M
net assets · Ln 32
Cash and savingsLn 1–2$19.2M
Total assetsLn 16$639.5M
LiabilitiesLn 26$154.3M
PeoplePt VI, VII
79
listed · VII A
PaidVII A14
Voting boardVI 1a33
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11.2M
Government grantsLn 1e$4.4M
Fees for servicesLn 2g$102.1M
Investment incomeLn 3$1.5M
Total revenueLn 12$5.5M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$19.2M
Total assetsLn 16$639.5M
LiabilitiesLn 26$154.3M
Net assetsLn 32$457.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6867
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $175.8M$197.3M−$21.5M$398.4M 990 PDF
FY2024 $163.3M$190.5M−$27.3M$380.1M 990 PDF
FY2023 $137.8M$172.9M−$35.2M$374.8M 990 PDF
FY2022 $131.1M$156.0M−$24.8M$391.6M 990 PDF
FY2021 Viewing $5.5M$6.3M−$735K$457.2M 990 PDF
FY2020 $130.3M$140.7M−$10.5M$339.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2021 990 (1 part)
Part VI · Governance 30 of 33 board members independent, 1 to look at
VI-1a Voting members of the governing body33
VI-1b Independent voting members30
VI-2 Family or business relationship among officers or directorsYes
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

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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