Washington & Lee University

Analysis

Washington & Lee University is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in May 1923, 103 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 & Lee University reported income of $276.6m and spending of $276.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $283.2m to $276.6m (-2.3%), an average of -0.6% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Washington & Lee University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within VA. Charities of a similar size with the same main cause include Early Learning Coalition of Palm Beach County Inc ($276.6m), American Friends of Bar-Ilan University Inc ($277.2m) and Teach for America Inc ($275.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $4.9m (1.8% of expenses). Other salaries and wages came to $87.8m. It paid $124k in professional fundraising fees. At year end it held assets of $2.54bn against liabilities of $323.8m, net assets of $2.21bn. It reported 2,712 employees.