Washington College

Analysis

Washington College is a registered charity in United States, based in Chestertown, MD. It received its IRS tax-exemption ruling in April 1947, 79 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Washington College reported income of $94.4m and spending of $101.4m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $100.4m to $94.4m (-6.0%), an average of -1.5% a year. The sharpest change came in the year to June 2022, when income rose by 41%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Washington College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Robert W Woodruff Health Sciences Center Fund Inc ($94.3m), University of Mount Union ($94.4m) and Antelope Valley Learning Academy Inc ($94.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $1.5m (1.5% of expenses). Other salaries and wages came to $26.7m. At year end it held assets of $491.0m against liabilities of $85.8m, net assets of $405.2m. It reported 1,203 employees.