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.
86¢ of each $1 spent went to programs.
$3.4M 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

FY2023 · 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
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.4M
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
2 mo
of spending, in cash
Plus $315.9M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
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
$161.5M
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
34
of 37 voting members
Looks good: 34 of 37 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$137.8M
+5% vs prior year
Spent
$172.9M
To programs
86%
Net assets
$374.8M
By yearFY2020–FY2025
Revenue
$137.8M
FY2023▲ +5%
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
$172.9M
FY2023▲ +11%
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
$374.8M
FY2023▼ -4%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

86 cents of each dollar spent went to programs.

Program services 86% · $148.6M Management & general 12% · $20.1M Fundraising 2% · $4.2M

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

50 people listed on the 990; $3.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$484,263Pt VII · Sec A
Dean, College of Law
$262,794Pt VII · Sec A
President, COO & Treasurer
$262,276Pt VII · Sec A
VP for Advancement
$260,974Pt VII · Sec A
Provost and Senior Vice President
$241,969Pt VII · Sec A
Counsel & VP of Human Resources
$223,846Pt VII · Sec A
Claudia Peterson Professor of Law
$220,931Pt VII · Sec A
Professor of Free Enterprise
$219,343Pt 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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2 programs · $148.6M · in their own filed words · FY2022
01

Higher Education

Instruction and support: 1,347 in the college of arts and sciences, 314 in the college of law, 122 in the atkinson graduate school of management, 17 in the school of computing and information sciences, 75 in a joint degree program, 365 in pacific northwest college of arts, and 106 in the hallie ford school of graduate studies (2,346…

$134.5Mprogram expense
02

Higher Education

Auxiliary functions: includes room & board (for 1,059 students) and summer conferences.

$14.1Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$137.8M
Ln 12
Fees for servicesLn 2g$120.2M
Gifts and grantsLn 1h$15.4M
Other incomeLn 4–11$1.7M
Money outPt IX
$172.9M
Ln 25
Programscol B$148.6M
Managementcol C$20.1M
Fundraisingcol D$4.2M
Owns and owesPt X
$374.8M
net assets · Ln 32
Cash and savingsLn 1–2$23.9M
Total assetsLn 16$536.3M
LiabilitiesLn 26$161.5M
PeoplePt VI, VII
50
listed · VII A
PaidVII A15
Voting boardVI 1a37
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15.4M
Government grantsLn 1e$3.0M
Noncash giftsLn 1g$578K
Fees for servicesLn 2g$120.2M
Investment incomeLn 3$408K
Other incomeLn 4–11$1.7M
Gains on assetsLn 7−$117K
Total revenueLn 12$137.8M
Assets in detailPt X, end of year
CashLn 1$2.2M
SavingsLn 2$21.8M
Cash and savings togetherLn 1–2$23.9M
InvestmentsLn 11–13$315.9M
Land, buildings, equipmentLn 10c$166.8M
Other assetsLn 15$17.3M
Total assetsLn 16$536.3M
LiabilitiesLn 26$161.5M
Net assetsLn 32$374.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6867
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 FY23End FY23
Cash and savingsLn 1–2$32.5M$23.9M
InvestmentsLn 11–13$322.6M$315.9M
Land, buildings, equipmentLn 10c$166.6M$166.8M
Total assetsLn 16$555.4M$536.3M
LiabilitiesLn 26$163.8M$161.5M
Net assetsLn 32$391.6M$374.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$8K$8K
Grants to domestic individualsLn 2$56.8M$56.8M
Grants and assistance to foreign recipientsLn 3$955K$955K
Pay of current officers, directors and key staffLn 5$3.0M$935K$1.9M$192K
Pay of disqualified personsLn 6$45K$45K
Other salaries and wagesLn 7$48.6M$41.2M$4.9M$2.5M
Pension plan contributionsLn 8$4.5M$3.8M$449K$252K
Other employee benefitsLn 9$6.8M$5.7M$782K$365K
Payroll taxesLn 10$3.8M$3.1M$441K$198K
Legal feesLn 11b$465K$20K$439K$5K
Accounting feesLn 11c$208K$13K$195K
Professional fundraising feesLn 11e$88K$88K
Investment management feesLn 11f$1.7M$1.7M
Other fees for servicesLn 11g$8.4M$5.5M$2.7M$125K
Advertising and promotionLn 12$648K$438K$210K$65
Office expensesLn 13$3.9M$3.2M$363K$269K
Information technologyLn 14$2.3M$2.2M$61K$113K
OccupancyLn 16$7.8M$5.5M$2.3M$11K
TravelLn 17$2.4M$2.3M$65K$73K
Conferences, conventions and meetingsLn 19$112K$95K$7K$10K
InterestLn 20$3.8M$2.9M$893K
Depreciation, depletion and amortizationLn 22$6.6M$6.3M$264K
InsuranceLn 23$1.9M$19K$1.9M
Other expenses (24a–d)Ln 24$7.4M$7.2M$150K$16K
All other expensesLn 24e$739K$293K$446K$1K
Total functional expensesLn 25$172.9M$148.6M$20.1M$4.2M

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 Viewing $137.8M$172.9M−$35.2M$374.8M 990 PDF
FY2022 $131.1M$156.0M−$24.8M$391.6M 990 PDF
FY2021 $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 I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $137,752,242 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $18,552,130$15,414,203
I-9 Program service revenuePrior year $107,193,404$120,183,646
I-10 Investment incomePrior year $2,378,328$407,937
I-11 Other revenuePrior year $2,990,657$1,746,456
I-12 Total revenuePrior year $131,114,519$137,752,242
I-13 Grants and similar amounts paidPrior year $47,903,739$57,722,938
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $63,715,908$66,784,819
I-16a Professional fundraising feesPrior year $85,369$88,434
I-17 Other expensesPrior year $44,246,617$48,319,478
I-18 Total expensesPrior year $155,951,633$172,915,669
I-19 Revenue less expensesPrior year −$24,837,114−$35,163,427
Part VI · Governance 34 of 37 board members independent, 1 to look at
VI-1a Voting members of the governing body37
VI-1b Independent voting members34
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
Part VIII · Statement of revenue $137,752,242 across 10 lines filed
Lines not itemized here account for $914,673 of total revenue; see the IRS return.
VIII-1e Government grants$3,047,489
VIII-1f All other contributions, gifts and grants$12,366,714
VIII-1g Noncash contributions (included above)$577,818
VIII-1h Total contributions, gifts and grants$15,414,203
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $120,183,646$120,183,646
VIII-3 Investment incomeUnrelated business −$554,457 · Excluded from tax $1,079,147$524,690
VIII-6 Net rental income or lossExcluded from tax $146,567$146,567
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$116,753−$116,753
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $33,767 · Excluded from tax $651,449$685,216
VIII-12 Total revenueRelated to mission $120,192,446 · Unrelated business −$520,690 · Excluded from tax $2,666,283$137,752,242
Part IX · Statement of functional expenses $172,915,669 across 25 lines filed
IX-1 Grants to domestic organizationsPrograms $8,270$8,270
IX-2 Grants to domestic individualsPrograms $56,759,308$56,759,308
IX-3 Grants and assistance to foreign recipientsPrograms $955,360$955,360
IX-5 Pay of current officers, directors and key staffPrograms $934,652 · Management $1,860,055 · Fundraising $191,573$2,986,280
IX-6 Pay of disqualified personsPrograms $44,741$44,741
IX-7 Other salaries and wagesPrograms $41,168,894 · Management $4,912,885 · Fundraising $2,497,508$48,579,287
IX-8 Pension plan contributionsPrograms $3,842,739 · Management $448,773 · Fundraising $252,171$4,543,683
IX-9 Other employee benefitsPrograms $5,699,620 · Management $781,670 · Fundraising $364,926$6,846,216
IX-10 Payroll taxesPrograms $3,145,492 · Management $441,392 · Fundraising $197,728$3,784,612
IX-11b Legal feesPrograms $19,917 · Management $439,224 · Fundraising $5,479$464,620
IX-11c Accounting feesPrograms $12,868 · Management $194,794$207,662
IX-11e Professional fundraising feesFundraising $88,434$88,434
IX-11f Investment management feesManagement $1,696,301$1,696,301
IX-11g Other fees for servicesPrograms $5,512,343 · Management $2,724,125 · Fundraising $124,609$8,361,077
IX-12 Advertising and promotionPrograms $438,244 · Management $209,862 · Fundraising $65$648,171
IX-13 Office expensesPrograms $3,220,890 · Management $362,756 · Fundraising $269,109$3,852,755
IX-14 Information technologyPrograms $2,172,543 · Management $61,166 · Fundraising $112,849$2,346,558
IX-16 OccupancyPrograms $5,495,633 · Management $2,286,665 · Fundraising $10,823$7,793,121
IX-17 TravelPrograms $2,309,318 · Management $64,618 · Fundraising $72,924$2,446,860
IX-19 Conferences, conventions and meetingsPrograms $95,244 · Management $7,299 · Fundraising $9,753$112,296
IX-20 InterestPrograms $2,906,024 · Management $892,888$3,798,912
IX-22 Depreciation, depletion and amortizationPrograms $6,326,162 · Management $263,785$6,589,947
IX-23 InsurancePrograms $19,260 · Management $1,851,342$1,870,602
IX-24 Other expenses (24a–d)Programs $7,225,876 · Management $149,688 · Fundraising $15,538$7,391,102
IX-24e All other expensesPrograms $292,523 · Management $445,911 · Fundraising $1,060$739,494
IX-25 Total functional expensesPrograms $148,605,921 · Management $20,095,199 · Fundraising $4,214,549$172,915,669
Part X · Balance sheet $536,279,964 assets, 20 lines filed
Asset lines not itemized here account for $1,978,688; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,864,283$2,167,007
X-2 Savings and temporary cash investmentsStart of year $30,684,959$21,755,842
X-3 Pledges and grants receivableStart of year $5,664,804$4,420,753
X-4 Accounts receivableStart of year $4,806,157$4,591,165
X-9 Prepaid expenses and deferred chargesStart of year $1,064,935$1,460,826
X-10c Land, buildings and equipment, netStart of year $166,595,492$166,775,642
X-11 Publicly traded securitiesStart of year $21,379,651$20,603,043
X-12 Other securitiesStart of year $299,957,109$293,946,613
X-13 Program-related investmentsStart of year $1,272,711$1,330,224
X-15 Other assetsStart of year $19,537,019$17,250,161
X-16 Total assetsStart of year $555,407,413$536,279,964
X-17 Accounts payable and accrued expensesStart of year $16,271,207$16,904,353
X-19 Deferred revenueStart of year $1,917,910$2,574,008
X-20 Tax-exempt bond liabilitiesStart of year $100,445,563$100,101,681
X-25 Other liabilitiesStart of year $43,978,170$40,735,013
X-26 Total liabilitiesStart of year $163,796,612$161,483,437
X-27 Net assets without donor restrictionsStart of year $103,975,196$84,095,210
X-28 Net assets with donor restrictionsStart of year $287,635,605$290,701,317
X-32 Total net assets or fund balancesStart of year $391,610,801$374,796,527
X-33 Total liabilities and net assetsStart of year $555,407,413$536,279,964
Part XI · Reconciliation of net assets $374,796,527 net assets at year end
XI-1 Total revenue$137,752,242
XI-2 Total expenses$172,915,669
XI-3 Revenue less expenses−$35,163,427
XI-4 Net assets at start of year$391,610,801
XI-5 Net unrealized gains (losses) on investments$16,586,530
XI-9 Other changes in net assets$1,762,623
XI-10 Net assets at end of year$374,796,527

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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