Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $16,731

• 1e · Government grants (contributions)

  $6,763,317

• 1f · All other contributions, gifts and grants

  $78,622,961

• 1g · Noncash contributions included above

  $98,673

• 2a · Program service revenue: TUITION AND FEES

  total $46,827,851 · related or exempt $46,827,851

• 2b · Program service revenue: RESIDENTIAL LIFE/DINING

  total $10,837,839 · related or exempt $10,837,839

• 2c · Program service revenue: SUMMER CONFERENCES/CATERING

  total $1,281,945 · related or exempt $1,062,993 · unrelated business $218,952

• 2d · Program service revenue: AUXILIARY ENTERPRISES

  total $67,023 · related or exempt $67,023

• 3 · Investment income

  total $6,246,002 · unrelated business -$434,365 · excluded $6,680,367

• 6a · Gross rents

  real property $107,929

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $107,929

• 6d · Net rental income or loss

  total $107,929 · excluded $107,929

• 7a · Gross sales of assets other than inventory

  securities $65,755,240 · other assets $719,523

• 7b · Less cost or other basis and sales expenses

  securities $63,903,752 · other assets $506,314

• 7c · Gain or loss

  securities $1,851,488 · other assets $213,209

• 7d · Net gain or loss

  total $2,064,697 · unrelated business $23,491 · excluded $2,041,206

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $16,731

• 8b · Fundraising events: direct expenses

  $9,757

• 8c · Net income from fundraising events

  total -$9,757 · excluded -$9,757

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $1,105,908 · excluded $1,105,908

• 11b · Other revenue: ATHLETIC PROGRAMS

  total $207,587 · excluded $207,587

• 11c · Other revenue: GIS PROGRAM

  total $52,649 · excluded $52,649

• 11e · Other revenue, total

  $1,366,144

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $19,461 · program services $19,461

• 2 · Grants to domestic individuals

  total $29,595,645 · program services $29,595,645

• 3 · Grants to foreign organizations and individuals

  total $635,913 · program services $635,913

• 5 · Compensation of officers, directors and key employees

  total $1,988,460 · program services $661,183 · management and general $1,016,807 · fundraising $310,470

• 7 · Other salaries and wages

  total $29,274,737 · program services $24,510,245 · management and general $3,718,537 · fundraising $1,045,955

• 8 · Pension plan contributions

  total $916,914 · program services $815,816 · management and general $61,043 · fundraising $40,055

• 9 · Other employee benefits

  total $4,233,837 · program services $3,437,171 · management and general $620,294 · fundraising $176,372

• 10 · Payroll taxes

  total $2,083,051 · program services $1,690,978 · management and general $303,453 · fundraising $88,620

• 11b · Fees: legal

  total $379,120 · management and general $379,120

• 11c · Fees: accounting

  total $170,727 · management and general $170,727

• 11f · Fees: investment management

  total $883,121 · management and general $883,121

• 11g · Fees: other

  total $10,805,564 · program services $5,462,943 · management and general $4,823,453 · fundraising $519,168

• 12 · Advertising and promotion

  total $435,695 · program services $423,814 · management and general $11,881

• 13 · Office expenses

  total $463,278 · program services $412,279 · management and general $14,481 · fundraising $36,518

• 16 · Occupancy

  total $3,430,511 · program services $2,173,228 · management and general $1,225,786 · fundraising $31,497

• 17 · Travel

  total $1,865,727 · program services $1,745,768 · management and general $82,808 · fundraising $37,151

• 20 · Interest

  total $3,783,006 · program services $2,190,185 · management and general $1,592,821

• 22 · Depreciation, depletion and amortization

  total $8,962,490 · program services $6,563,294 · management and general $2,396,976 · fundraising $2,220

• 23 · Insurance

  total $722,051 · program services $442,689 · management and general $279,362

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $2,358,981 · program services $1,937,274 · management and general $393,772 · fundraising $27,935

• 24b · Other expenses: SUPPLIES

  total $1,863,206 · program services $1,705,049 · management and general $99,956 · fundraising $58,201

• 24c · Other expenses: PRINTING & PUBLICATION

  total $1,015,599 · program services $868,593 · management and general $49,322 · fundraising $97,684

• 24d · Other expenses: LIBRARY EXPENSES

  total $472,733 · program services $472,733

• 24e · All other expenses

  total $5,934,829 · program services $5,218,590 · management and general $609,115 · fundraising $107,124

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $4,721,884

• 2 · Savings and temporary cash investments

  beginning of year $17,903,306 · end of year $4,732,544

• 3 · Pledges and grants receivable

  beginning of year $6,229,825 · end of year $16,525,291

• 4 · Accounts receivable

  beginning of year $2,587,033 · end of year $1,676,441

• 7 · Other notes and loans receivable

  beginning of year $47,016 · end of year $45,174

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,524,459 · end of year $1,114,002

• 10a · Land, buildings and equipment: cost or other basis

  $326,306,484

• 10b · Land, buildings and equipment: accumulated depreciation

  $153,849,843

• 10c · Land, buildings and equipment, net

  beginning of year $172,738,116 · end of year $172,456,641

• 11 · Investments: publicly traded securities

  beginning of year $142,886,315 · end of year $188,339,576

• 12 · Investments: other securities

  beginning of year $132,138,915 · end of year $158,319,860

• 15 · Other assets

  beginning of year $14,931,390 · end of year $15,097,846

• 17 · Accounts payable and accrued expenses

  beginning of year $6,225,986 · end of year $7,410,670

• 19 · Deferred revenue

  beginning of year $523,352 · end of year $645,977

• 20 · Tax-exempt bond liabilities

  beginning of year $63,449,802 · end of year $60,093,261

• 25 · Other liabilities

  beginning of year $15,613,324 · end of year $17,516,122

• 27 · Net assets without donor restrictions

  beginning of year $119,080,074 · end of year $98,932,210

• 28 · Net assets with donor restrictions

  beginning of year $286,093,837 · end of year $378,431,019

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT OF WASHINGTON COLLEGE IS PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT TO ENABLE THE PRESIDENT TO RESPOND TO EMERGENT SITUATIONS 24/7. THE PRESIDENT OF WASHINGTON COLLEGE IS REIMBURSED THE COST OF SOCIAL CLUB DUES. TO THE EXTENT THAT THE PRESIDENT USES THE CLUB FOR PERSONAL PURPOSES, THE VALUE OF THE BENEFIT IS INCLUDED IN HIS/HER TAXABLE INCOME. THE PRESIDENT OF THE COLLEGE RECEIVES NOMINAL HOUSEKEEPING AND CHAUFFER SERVICES. PERSONAL SERVICES ARE PROVIDED AS A BUSINESS NEED. HOUSEKEEPING SERVICES ARE FOR CLEANING THE COMMON AREAS USED FOR COLLEGE BUSINESS ONLY. THE CHAUFFER SERVICES ARE PROVIDED ONLY DURING BUSINESS HOURS TO ALLOW THE PRESIDENT TO WORK ELECTRONICALLY WHILE TRAVELING, THOUGH SUCH INSTANCES ARE NOT COMMON.

PART I, LINES 4A-B

NAME: JOHN SEIDEL, DESCRIPTION: DIRECTOR, CES, CURRENT YEAR AMOUNT: $170,000 PLAN DESCRIPTION: SEVERANCE DURING THE 2023 CALENDAR YEAR, THE ORGANIZATION MAINTAINED A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. THE FOLLOWING REPORTABLE INDIVIDUALS WERE ELIGIBLE TO PARTICIPATE IN THAT PLAN: MICHAEL SOSULSKI DURING 2023, THE FOLLOWING CONTRIBUTIONS WERE MADE BY THE COLLEGE TO THE PLAN: MICHAEL SOSULSKI: $36,000 DURING 2023, NO DISTRIBUTIONS WERE MADE BY THE COLLEGE FROM THE PLAN.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• WC WATER LLC

  REAL ESTATE · MD · income $0 · assets $0

  Directly controlled by WASHINGTON COLLEGE