2025-05-15T13:27:20-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2023-07-01 520591691 WASHINGTON COLLEGE WASH 4107787784 300 WASHINGTON AVENUE CHESTERTOWN MD 216201197 TERI SIMMONS DEPUTY CFO 4107787204 2025-05-15 1 1 ROBERT WILLIAMS P01345960 5712279500 2025-05-15 2023 2025-03-06 01:10:19Z DR MICHAEL J SOSULSKI 300 WASHINGTON AVENUE CHESTERTOWN MD 216201197 218612505 0 X WWW.WASHCOLL.EDU X 1782 MD WASHINGTON COLLEGE CHALLENGES AND INSPIRES EMERGING CITIZEN LEADERS TO DISCOVER LIVES OF PURPOSE AND PASSION. 33 32 1230 381 -191922 134613 17694758 85403009 60129111 59014658 13723495 8310699 2835199 1464316 94382563 154192682 30603110 30251019 0 0 34387601 38496999 0 0 2578970 36426709 43546638 101417420 112294656 -7034857 41898026 490986375 563029259 85812464 85666030 405173911 477363229 X WASHINGTON COLLEGE CHALLENGES AND INSPIRES EMERGING CITIZEN LEADERS TO DISCOVER LIVES OF PURPOSE AND PASSION.CORE VALUESWE SHARE THESE VALUES OF OUR FOUNDING PATRON, GEORGE WASHINGTON: INTEGRITY, DETERMINATION, CURIOSITY, CIVILITY, LEADERSHIP, AND MORAL COURAGE. WE OFFER ACADEMIC RIGOR AND SELF-DISCOVERY IN A SUPPORTIVE, RESIDENTIAL COMMUNITY OF WELL-QUALIFIED, DIVERSE, AND MOTIVATED INDIVIDUALS. WE DEVELOP IN OUR STUDENTS HABITS OF ANALYTIC THOUGHT AND CLEAR COMMUNICATION, AESTHETIC INSIGHT, ETHICAL SENSITIVITY, AND CIVIC RESPONSIBILITY. 0 0 90769678 30251020 46827851 WASHINGTON COLLEGE'S ACHIEVEMENTS INCLUDE SUCCEEDING AS AN INSTITUTION OF HIGHER EDUCATION PROMOTING HABITS OF ANALYTIC THOUGHT, AESTHETIC INSIGHT, IMAGINATION, ETHICAL SENSITIVITY AND CLARITY OF EXPRESSION WHILE SUCCESSFULLY GRADUATING STUDENTS IN 4 YEARS. THE COLLEGE ENDEAVORS TO PREPARE ITS GRADUATES FOR FURTHER EDUCATION AND PRODUCTIVE CAREERS. WITH MANY MAJORS AND ACADEMIC PROGRAMS TO CHOOSE FROM, STUDENTS CAN DEVISE A COURSE OF STUDY THAT FITS THEIR INTELLECTUAL INTERESTS AND CAREER ASPIRATIONS. IN ADDITION TO TRADITIONAL FIELDS OF STUDY, THEY MAY CHOOSE AN AREA OF CONCENTRATION IN FIELDS SUCH AS BEHAVIORAL NEUROSCIENCE, CLINICAL PSYCHOLOGY OR EAST ASIAN STUDIES, AMONG OTHERS. THE COLLEGE ALSO OFFERS PROFESSIONAL PREPARATION TRACKS IN PREMEDICAL STUDIES AND PRE-LAW, AS WELL AS DUAL DEGREE PROGRAMS IN ENGINEERING, NURSING AND PHARMACY. 213173 0 1130016 WASHINGTON COLLEGE USES ITS FACILITIES DURING SUMMER MONTHS TO FACILITATE EDUCATIONAL EXPERIENCES FOR YOUNGER K-12 STUDENTS. THESE STUDENTS ARE GIVEN AN OPPORTUNITY TO PARTICIPATE IN SUMMER CAMPS RANGING FROM SCIENCES, MATHEMATICS AND HANDS ON PROJECTS. THESE CAMPS LAST ANYWHERE FROM FOUR DAYS TO THREE WEEKS AND ARE MANAGED BY OTHER OUTSIDE NONPROFIT ORGANIZATIONS. 0 0 10837839 WASHINGTON COLLEGE'S RESIDENTIAL LIFE PROGRAM PROVIDES STUDENTS WITH OPPORTUNITIES AND EXPERIENCES THAT HELP THEM TO DEVELOP RESPONSIBILITIES BOTH TO THEMSELVES AND TO THEIR FELLOW STUDENTS. IT ATTEMPTS TO PROVIDE A RELAXING AND CALM ATMOSPHERE FOR STUDY AND DAY-TO-DAY LIVING. INDEED, LIVING ON-CAMPUS IS TRULY THE "OTHER-HALF" OF A COLLEGE EDUCATION. WITH APPROXIMATELY 27 DORMS TO CHOOSE FROM, STUDENTS HAVE CHOICES OF SINGLE, DOUBLES OR TRIPLES IN EACH ROOM/UNIT. HODSON HALL HOUSES THE DINING FACILITIES FOR WASHINGTON COLLEGE. THE MAIN DINING HALL SEATS 500 ON TWO LEVELS. STUDENTS, FACULTY AND STAFF FIND MADE-TO-ORDER MEALS ALONG WITH SELF-SERVE OPTIONS ALLOWING FOR A CUSTOMIZED DINING EXPERIENCE. STUDENTS CHOOSE FROM FIVE MEALS PLANS WITH ADDITIONAL OPTIONS FOR MEAL EQUIVALENCIES. CASUAL DINING IS LOCATED ON THE FIRST FLOOR OF THE COMMONS. OPERATING UNTIL LATE EVENING, OPTIONS INCLUDE MONDO SUBS, MARTHA'S KITCHEN, AND THE CAMPUS COFFEE BAR, JAVA GEORGE. 90982851 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 377 0 1 1230 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MD X TERI SIMMONS DEPUTY CFO 4107787784 300 WASHINGTON AVE CHESTERTOWN MD 21620 STEPHEN T GOLDING CHAIR 1.00 X X 0 0 0 RICHARD WHEELER VICE CHAIR 1.00 X X 0 0 0 VALARIE A SHEPPARD SECRETARY 1.00 X X 0 0 0 PETER MALLER TREASUER 1.00 X X 0 0 0 JIM BAROSSI MEMBER 1.00 X 0 0 0 THAD BENCH MEMBER 1.00 X 0 0 0 H LAWRENCE CULP JR MEMBER 1.00 X 0 0 0 RYDER DANIELS MEMBER 1.00 X 0 0 0 HILARY FALK MEMBER 1.00 X 0 0 0 L MYRTON GAINES II MEMBER 1.00 X 0 0 0 MARGARET STEVENS JACKS MEMBER 1.00 X 0 0 0 KIRK B JOHNSON MEMBER 1.00 X 0 0 0 HONG JIM LIM MEMBER 1.00 X 0 0 0 REBECCA CORBIN LOREE MEMBER 1.00 X 0 0 0 WILLIAM S SHEP MILLER MEMBER 1.00 X 0 0 0 EDWARD P NORDBERG MEMBER 1.00 X 0 0 0 BERT W REIN MEMBER 1.00 X 0 0 0 BRANDON RIKER MEMBER 1.00 X 0 0 0 REBECCA RIMEL MEMBER 1.00 X 0 0 0 LAURA SALLADIN MEMBER 1.00 X 0 0 0 HUGH SHERMAN MEMBER 1.00 X 0 0 0 LISA SMITH MEMBER 1.00 X 0 0 0 WILLIAM L SNOOK MEMBER 1.00 X 0 0 0 DARYL L SWANSTROM MEMBER 1.00 X 0 0 0 JOHN H TIMKEN MEMBER 1.00 X 0 0 0 DONALD C TOMASSO MEMBER 1.00 X 0 0 0 DEBORAH MOXLEY TURNER MEMBER 1.00 X 0 0 0 JANICE DAUE WALKER MEMBER 1.00 X 0 0 0 ELIZABETH WAREHIME MEMBER 1.00 X 0 0 0 MICHAEL WOODFOLK MEMBER (THRU 12/31) 1.00 X 0 0 0 MICHELLE GIBBONS-NEFF MEMBER 1.00 X 0 0 0 NAYEF SAMHAT MEMBER 1.00 X 0 0 0 RICHARD D WOOD MEMBER 1.00 X 0 0 0 CARYN YORK MEMBER 1.00 X 0 0 0 MICHAEL SOSULSKI PRESIDENT 55.00 X X 441251 0 68560 EDWARD PATRICK VP FOR FINANCE & ADMINISTRATION 55.00 X 254175 0 14541 SUSANNAH C SUTLEY VP, ADVANCEMENT, ALUMNI AF 55.00 X 264053 0 29471 SARAH FEYERHERM VP OF STUDENT AFFAIRS 55.00 X 174884 0 16582 VICTOR SENSENIG CHIEF OF STAFF/VP FOR PLANNING 55.00 X 162265 0 27120 BRIAN SPEER VICE PRESIDENT FOR MARKETING AND COMMUNICATION 55.00 X 211973 0 28888 JOHNNIE JOHNSON VICE PRESIDENT FOR ENROLLMENT MANAGEMENT 55.00 X 175349 0 16954 LISA MARX DIRECTOR OF HEALTH SERVICE 55.00 X 142766 0 5366 MICHAEL HARVEY SPECIAL ASSISTANT TO THE PRESIDENT FOR STRATEGIC I 55.00 X 166305 0 20413 ADAM GOODHEART DIRECTOR OF THE STARR CENTER 55.00 X 147593 0 15890 VALERIE IMBRUCE DIRECTOR, CES 55.00 X 198670 0 24711 SHEKAYLA HOOKS NURSE PRACTITIONER 55.00 X 133133 0 13855 JOHN SEIDEL FORMER DIRECTOR, CES (THRU 12/22) 0.00 X 210230 0 981 2682647 0 283332 30 1 1 0 ELLUCIAN COMPANY LP 2003 EDMUND HALLEY DR SUITE 500 RESTON VA 20191 OIT MANAGEMENT 2024135 OSPREY CUSTOM CARPENTRY 6008 CHRUCH HILL ROAD CHESTERTOWN MD 21620 BUILDING CONTRACTOR 957163 HOLMAN BUILDING 526 HIGH STREET CHESTERTOWN MD 21620 BUILDING CONTRACTOR 888741 BSC GROUP LLC 114 BAY STREET EASTON MD 21601 PROFESSIONAL FINANCE SERVICES 380755 CLIFTON LARSON ALLEN LLP PO BOX 829709 PHILADELPHIA PA 19182 CPA SERVICES 160479 10 16731 6763317 78622961 98673 85403009 TUITION AND FEES 900099 46827851 46827851 RESIDENTIAL LIFE/DINING 900099 10837839 10837839 SUMMER CONFERENCES/CATERING 900099 1281945 1062993 218952 AUXILIARY ENTERPRISES 900099 67023 67023 59014658 6246002 -434365 6680367 107929 0 107929 107929 107929 65755240 719523 63903752 506314 1851488 213209 2064697 23491 2041206 0 16731 9757 -9757 -9757 MISCELLANEOUS INCOME 900099 1105908 1105908 ATHLETIC PROGRAMS 900099 207587 207587 GIS PROGRAM 900099 52649 52649 1366144 154192682 58795706 -191922 10185889 19461 19461 29595645 29595645 635913 635913 1988460 661183 1016807 310470 29274737 24510245 3718537 1045955 916914 815816 61043 40055 4233837 3437171 620294 176372 2083051 1690978 303453 88620 379120 379120 170727 170727 883121 883121 10805564 5462943 4823453 519168 435695 423814 11881 463278 412279 14481 36518 3430511 2173228 1225786 31497 1865727 1745768 82808 37151 3783006 2190185 1592821 8962490 6563294 2396976 2220 722051 442689 279362 REPAIRS & MAINTENANCE 2358981 1937274 393772 27935 SUPPLIES 1863206 1705049 99956 58201 PRINTING & PUBLICATION 1015599 868593 49322 97684 LIBRARY EXPENSES 472733 472733 5934829 5218590 609115 107124 112294656 90982851 18732835 2578970 4721884 17903306 4732544 6229825 16525291 2587033 1676441 47016 45174 1524459 1114002 326306484 153849843 172738116 172456641 142886315 188339576 132138915 158319860 14931390 15097846 490986375 563029259 6225986 7410670 523352 645977 63449802 60093261 15613324 17516122 85812464 85666030 X 119080074 98932210 286093837 378431019 405173911 477363229 490986375 563029259 X 41898026 30225531 65760 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 1 X X 0 281135336 61249962 37806298 17889681 362301915 273011325 6640830 20638335 19155154 281135336 299835141 12099808 -23644635 15278989 273011325 235039624 5294003 73591590 14090076 299835141 236685309 5631681 5902540 7141988 6037918 235039624 0.02200 0.97800 0.00000 0 0 22688654 22688654 257462046 123584731 133877315 40755181 30265112 10490069 5400603 5400603 172456641 LIMITED PARTNERSHIPS 96813376 F HEDGE FUNDS 54122728 F REAL ESTATE 7383756 F 158319860 FINANCING LEASE LIABILITY 16115139 FUNDS HELD FOR OTHERS 661656 OPERATING LEASE LIABILITY 379572 ANNUITIES PAYABLE 359755 17516122 X 153379052 30225531 -30165798 59733 153319319 883121 -9757 873364 154192683 81189734 9757 9757 81179977 883121 30231558 31114679 112294656 PART II, LINE 9: WASHINGTON COLLEGE HAS NOT REPORTED EASEMENTS IN THE FINANCIAL STATEMENTS. PART III, LINE 4: WASHINGTON COLLEGE HOLDS A SIGNIFICANT PLACE IN THE HISTORY OF AMERICAN HIGHER EDUCATION AS THE FIRST COLLEGE OF THE NEW NATION. PART V, LINE 4: THE ENDOWMENT FUNDS HAVE MANY DIFFERENT PURPOSES BUT OVERALL THEY ARE THERE TO SUPPLEMENT THE COLLEGE'S OPERATIONS IN WAYS THAT ENHANCE THE STUDENT EXPERIENCE. PART X, LINE 2: UNDER PROVISIONS OF THE INTERNAL REVENUE CODE SECTION 501(C)(3) AND APPLICABLE INCOME TAX REGULATIONS OF THE STATE OF MARYLAND, THE COLLEGE IS EXEMPT FROM TAXES ON INCOME, OTHER THAN UNRELATED BUSINESS INCOME. THE COLLEGE RECOGNIZES OR DERECOGNIZES A TAX POSITION BASED THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 65,760. GRANTS, SCHOLARSHIPS, AND OTHER TUITION DISCOUNTS -30,231,558. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -9,757. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 9,757. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS, SCHOLARSHIPS, AND OTHER TUITION DISCOUNTS 30,231,558. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE RACIALLY NONDISCRIMINATORY POLICY IS PROVIDED IN THE STUDENT HANDBOOK, THE FACULTY HANDBOOK, THE STAFF HANDBOOK, THE COLLEGE CATALOG, AND ON THE COLLEGE'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ANNUAL GRANTS FROM FEDERAL, STATE AND LOCAL AGENCIES. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECIPIENTS IN THE REGION 72188 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS IN THE REGION 26500 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS IN THE REGION 29000 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 61800 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 30000 RUSSIA AND NEIGHBORING STATES 0 0 GRANTS TO RECIPIENTS IN THE REGION 14000 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 35000 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS IN THE REGION 158146 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 209279 0 0 0 0 0 0 426634 209279 635913 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 72188 OTHER SCHOLARSHIPS EAST ASIA AND THE PACIFIC 2 26500 OTHER SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 1 29000 OTHER SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 1 61800 OTHER SCHOLARSHIPS NORTH AMERICA 1 30000 OTHER SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 1 14000 OTHER SCHOLARSHIPS SOUTH AMERICA 1 35000 OTHER SCHOLARSHIPS SOUTH ASIA 4 158146 OTHER SCHOLARSHIPS SUB-SAHARAN AFRICA 6 209279 OTHER 1 0 1 0 1 0 PART I, LINE 2: WASHINGTON COLLEGE OFFERS SEVERAL TYPES OF FINANCIAL AID TO HELP QUALIFIED FULL-TIME UNDERGRADUATE STUDENTS MEET THEIR COLLEGE EXPENSES. COLLEGE-SPONSORED TUITION SCHOLARSHIPS, TUITION GRANTS, AND WORK/STUDY ARE AVAILABLE TO FULL-TIME UNDERGRADUATE STUDENTS WHO DEMONSTRATE FINANCIAL NEED AND WHO MEET THE COLLEGE'S ADMISSION CRITERIA. IN ADDITION TO COLLEGE-SPONSORED FINANCIAL AID, ELIGIBLE STUDENTS CAN RECEIVE ASSISTANCE FROM FEDERAL, STATE, AND INDEPENDENT AID PROGRAMS. GRANT AND SCHOLARSHIP ASSISTANCE FROM ALL SOURCES IS FIRST APPLIED TO FULL-TIME TUITION CHARGES. GRANT AND SCHOLARSHIP ASSISTANCE IN EXCESS OF TUITION IS THEN APPLIED TO DIRECT COLLEGE CHARGES FOR FEES, AND ON CAMPUS ROOM AND BOARD. THE FEDERAL GOVERNMENT MAKES FFELP FUNDS AVAILABLE TO UNDERGRADUATE STUDENTS TO ATTEND POST-SECONDARY INSTITUTIONS. ELIGIBILITY IS BASED ON FINANCIAL NEED, AND APPLICATION IS THROUGH THE NORMAL FINANCIAL AID APPLICATION PROCESS OF WASHINGTON COLLEGE. 1 GRANTS AND SCHOLARSHIPS 859 29188934 N/A N/A EMPLOYEE WAIVERS 25 406711 N/A N/A PART I, LINE 2: WASHINGTON COLLEGE OFFERS SEVERAL TYPES OF FINANCIAL AID TO HELP QUALIFIED FULL-TIME UNDERGRADUATE STUDENTS MEET THEIR COLLEGE EXPENSES. COLLEGE-SPONSORED TUITION SCHOLARSHIPS, TUITION GRANTS, AND WORK/STUDY ARE AVAILABLE TO FULL-TIME UNDERGRADUATE STUDENTS WHO DEMONSTRATE FINANCIAL NEED AND WHO MEET THE COLLEGE'S ADMISSION CRITERIA. IN ADDITION TO COLLEGE-SPONSORED FINANCIAL AID, ELIGIBLE STUDENTS CAN RECEIVE ASSISTANCE FROM FEDERAL, STATE, AND INDEPENDENT AID PROGRAMS. GRANT AND SCHOLARSHIP ASSISTANCE FROM ALL SOURCES IS FIRST APPLIED TO FULL-TIME TUITION CHARGES. GRANT AND SCHOLARSHIP ASSISTANCE IN EXCESS OF TUITION IS THEN APPLIED TO DIRECT COLLEGE CHARGES FOR FEES, AND ON CAMPUS ROOM AND BOARD. THE FEDERAL GOVERNMENT MAKES FFELP FUNDS AVAILABLE TO UNDERGRADUATE STUDENTS TO ATTEND POST-SECONDARY INSTITUTIONS. ELIGIBILITY IS BASED ON FINANCIAL NEED, AND APPLICATION IS THROUGH THE NORMAL FINANCIAL AID APPLICATION PROCESS OF WASHINGTON COLLEGE. PART III, COLUMN (B): PER FINANCIAL AID RECORDS X X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 MICHAEL SOSULSKI PRESIDENT 441251 0 0 0 0 0 50658 0 17902 0 509811 0 0 0 SUSANNAH C SUTLEY VP, ADVANCEMENT, ALUMNI AF 264053 0 0 0 0 0 8595 0 20876 0 293524 0 0 0 EDWARD PATRICK VP FOR FINANCE & ADMINISTRATION 254175 0 0 0 0 0 8616 0 5925 0 268716 0 0 0 BRIAN SPEER VICE PRESIDENT FOR MARKETING AND COM 211973 0 0 0 0 0 7785 0 21103 0 240861 0 0 0 VALERIE IMBRUCE DIRECTOR, CES 198670 0 0 0 0 0 5652 0 19059 0 223381 0 0 0 JOHN SEIDEL FORMER DIRECTOR, CES (THRU 12/22) 40230 0 0 0 170000 0 981 0 0 0 211211 0 0 0 JOHNNIE JOHNSON VICE PRESIDENT FOR ENROLLMENT MANAGE 175349 0 0 0 0 0 6156 0 10798 0 192303 0 0 0 SARAH FEYERHERM VP OF STUDENT AFFAIRS 174884 0 0 0 0 0 6133 0 10449 0 191466 0 0 0 VICTOR SENSENIG CHIEF OF STAFF/VP FOR PLANNING 162265 0 0 0 0 0 5974 0 21146 0 189385 0 0 0 MICHAEL HARVEY SPECIAL ASSISTANT TO THE PRESIDENT F 166305 0 0 0 0 0 5911 0 14502 0 186718 0 0 0 ADAM GOODHEART DIRECTOR OF THE STARR CENTER 147593 0 0 0 0 0 5300 0 10590 0 163483 0 0 0 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. A TOWN OF CHESTERTOWN MARYLAND 526000783 2013-07-20 57684000 REFUND 2009 AND 2010 BONDS 0 1 0 B TOWN OF CHESTERTOWN MARYLAND 526000783 2015-11-24 20206000 CAPITAL CONSTRUCTION 0 1 0 A 18844000 57684000 369000 57315000 1 0 1 1 B 3892000 20206000 208134 19997866 0 0 1 1 A 0 0 1 1 0 0.03260 0.00000 0.03260 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 RBCPNC 25.000000000000 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 X 1 78000 FMV X CHESTER RIVER PAINTING 1 6555 FMV X BOAT STORAGE 1 4800 FMV X MEET THE PRESIDENT PARTY IN RI 1 3940 FMV X RESTORATION OF ALUMNI HOUSE DOORS 1 2940 FMV X TENT FOR SOFTBALL 1 1963 FMV X DOGWOOD TREE AT CROMWELL BUILDING 1 475 FMV 1 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN COLUMN B REPRESENTS THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE'S CENTRAL PURPOSE IS TO STRENGTHEN THE BOARD'S PERFORMANCE BY HELPING IT FUNCTION EFFICIENTLY AND EFFECTIVELY. BETWEEN MEETINGS OF THE BOARD, THE COMMITTEE SHALL POSSESS AND EXERCISE ALL OF THE POWERS OF THE BOARD EXCEPT AS LIMITED BY THE GENERAL CORPORATION LAWS OF THE STATE OF MARYLAND. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD, THE PRESIDENT OF THE COLLEGE, THE CHAIR OF ALL STANDING COMMITTEES AND NOT MORE THAN TWO (2) MEMBERS AT LARGE. PRIOR NOTICE OF ALL MEETINGS OF THE EXECUTIVE COMMITTEE SHALL BE GIVEN BY APPROPRIATE MEANS TO ALL MEMBERS. A QUORUM OF THE EXECUTIVE COMMITTEE SHALL CONSIST OF NO LESS THAN EIGHT OF THE DESIGNATED MEMBERS. THE EXECUTIVE COMMITTEE SHALL ASSIST THE PRESIDENT WITH NONESSENTIAL BUSINESS BETWEEN REGULAR BOARD MEETINGS AND SHALL ASSIST THE CHAIR AND THE PRESIDENT WITH THEIR JOINT RESPONSIBILITY TO HELP THE BOARD FUNCTION EFFECTIVELY AND EFFICIENTLY BY SUGGESTING BOARD MEETING AGENDA ITEMS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE DRAFT OF THE 990 FOR ACCURACY AND RECONCILEMENT TO THE AUDITED FINANCIAL STATEMENTS. ONCE THIS REVIEW IS FINAL, A DRAFT COPY OF THE 990 IS PROVIDED TO THE CHAIRMAN OF THE BOARD AND THE AUDIT COMMITTEE CHAIRMAN FOR REVIEW AND COMMENTS FOR A 7 DAY PERIOD. A COPY OF THE DRAFT FORM 990 IS ALSO CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER IS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990. AFTER APPROVAL OF THE 990, THE TAX PREPARER IS NOTIFIED TO FINALIZE THE RETURN FOR FILING. A FINAL 990 PRESENTATION SUMMARY IS PRESENTED TO ALL THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C ALL COVERED PERSONS SHALL DISCLOSE IN WRITING ANY POSSIBLE CONFLICT OF INTEREST WITH REGARD TO A PROPOSED TRANSACTION OR ARRANGEMENT, AS WELL AS ALL MATERIAL FACTS RELATED THERETO, TO THE BOARD AND TO THE APPROPRIATE BOARD COMMITTEE, IF ANY, AT THE EARLIEST PRACTICAL TIME. AFTER A POSSIBLE CONFLICT OF INTEREST HAS BEEN DISCLOSED, THE BOARD OR COMMITTEE SHALL DISCUSS AND, IF NECESSARY, INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. ULTIMATELY, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE COLLEGE CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST AND, IF SUCH ALTERNATIVE TRANSACTION OR ARRANGEMENT IS NOT FEASIBLE, WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN THE COLLEGE'S BEST INTEREST AND WILL NOT COMPROMISE OR HAVE THE APPEARANCE OF COMPROMISING THE COLLEGE'S ACADEMIC AND FISCAL INTEGRITY. THE INTERESTED PERSON SHALL REFRAIN FROM PARTICIPATING IN THE DISCUSSION CONCERNING (AND FROM VOTING ON) THE ISSUE THAT PRESENTS THE CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST AND MAY BE ASKED TO LEAVE THE MEETING DURING DISCUSSION OF AND/OR THE VOTE ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 SINCE THE 1980S, WASHINGTON COLLEGE HAS PURSUED A BOARD-AUTHORIZED ASPIRATION TO COMPENSATE FACULTY, ON AVERAGE, AT THE ALL-RANKS AVERAGE OF INSTITUTIONS WITH A CARNEGIE CLASSIFICATION OF IIB (PRIVATE, INDEPENDENT). IN 2012 THE BOARD REVISED THE GOAL TO COMPENSATE FACULTY ON A RANK BY RANK AVERAGE OF PRIVATE INDEPENDENT COLLEGES. A SIMILAR STANDARD FOR STAFF WAS DEVELOPED IN 2007 IN PARTNERSHIP WITH WATSON WYATT. ALSO IN 2012, THE COLLEGE PARTNERED WITH SIBSON TO CONDUCT A MARKET SALARY ANALYSIS OF ALL STAFF POSITIONS. AS A RESULT WE HAVE ADOPTED AND IMPLEMENTED A REVISED MARKET BASED STAFF SALARY STRUCTURE WHICH HAS 15 PAY LEVELS AND APPLIES TO BOTH EXEMPT AND NON EXEMPT STAFF. WASHINGTON COLLEGE HAS REVISED IT COMPENSATION PHILOSOPHY TO READ AS FOLLOWS: WASHINGTON COLLEGE PROVIDES EMPLOYEES WITH A TOTAL COMPENSATION PACKAGE, COMPRISED OF BOTH SALARY AND BENEFITS, THAT RECOGNIZES AND REWARDS PERFORMANCE AND PRODUCTIVITY WHILE MAINTAINING A COMPETITIVE MARKET POSITION AND INTERNAL EQUITY. IN SUPPORT OF THE COLLEGE'S MISSION WE ENDEAVOR TO PROVIDE A LEVEL OF COMPENSATION, BOTH CASH AND BENEFITS, TO ATTRACT, MOTIVATE AND RETAIN THE QUALITY OF WORKFORCE NECESSARY FOR THE ACHIEVEMENT OF THE COLLEGE'S GOALS. THE COMPENSATION PROGRAM SHALL BE CONSISTENT, RESPONSIVE, TRANSPARENT, AND EQUITABLE. THE COLLEGE IS COMMITTED TO A MERITOCRACY. OUR PERFORMANCE MANAGEMENT PROGRAM IS DESIGNED TO INCREASE THE PERSONAL AND PROFESSIONAL EFFECTIVENESS OF OUR STAFF INCLUDING PROVIDING STAFF WITH CLEAR PERFORMANCE EXPECTATIONS AND DEVELOPMENTAL OPPORTUNITIES. WE PROVIDE LEADERS WITH THE TOOLS AND TRAINING TO ENABLE THEM TO BUILD EFFECTIVE TEAMS AND LEAD SUCCESSFULLY INCLUDING COACHING PERFORMANCE AND MAKING SOUND COMPENSATION DECISIONS. THE PHILOSOPHY IS ACCOMPLISHED BY MAINTAINING ACCURATE JOB DESCRIPTIONS ON ALL POSITIONS AND BENCHMARKING JOBS AGAINST COMPARABLE POSITIONS IN THE MARKET. MARKET DATA IS DEVELOPED FROM NATIONAL DATA BASES, CUPA-HR SURVEYS AND LOCAL MARKET SURVEYS. DECISIONS REGARDING COMPENSATION PROGRAMS AND INDIVIDUAL PAY DECISIONS WILL BE MADE BASED ON THE ABOVE OBJECTIVES AS WELL AS THE COLLEGE'S FINANCIAL SITUATION. EACH SPRING, THE CHIEF OF STAFF PREPARES AN ANALYSIS OF COMPENSATION PROVIDED TO COMPETITOR IIB COLLEGE PRESIDENTS USING DATA ANALYSIS CONDUCTED BY THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA-HR). THE RESULTING SPREADSHEET IS PROVIDED TO THE VICE-CHAIR, ALONG WITH THE EXECUTIVE MARKET-BASED LEVEL RANGE, TO INFORM ANY PAY ADJUSTMENT RECOMMENDATION THAT MIGHT EMERGE FROM THE SUBCOMMITTEE'S ANNUAL ASSESSMENT OF THE PRESIDENT'S PERFORMANCE. THE REPORT OF THE SUBCOMMITTEE, ALONG WITH ANY PAY ADJUSTMENT RECOMMENDATION, IS PRESENTED TO THE FULL BOARD OF VISITORS AND GOVERNORS FOR REVIEW AND APPROVAL IN EXECUTIVE SESSION. ANY DECISION BY THE BOARD OF VISITORS AND GOVERNORS IS RECORDED IN THE MINUTES OF THAT MEETING. THIS PROCESS WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 65,760. WC WATER LLC 300 WASHINGTON AVENUE CHESTERTOWN MD 21620 270886807 REAL ESTATE MD 0 0 WASHINGTON COLLEGE